Thread: Tuition
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Old 02-12-13 | 07:49 AM
  #19  
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Fangowolf
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From: Houston

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For those "down" on the current generation and paying for education. I just did a little math. In my college days (83-88) I made 20 cents over minimum wage. Those jobs were hard to come by and I had to work 11PM till 7 AM at least twice a week. I did that for 4 years averaging 42 hours a week. That paid roughly 80% of my bills.

Flash forward to today $20,000
lowest tax bracket is 15% so just to cover that cost is 23,000
at minimum wage of 7.25 that is 3172 hours
that is 61 hours a week which includes summer employment.

You can't put yourself through school anymore, unless you can get some kind of scholorship and those are getting rarer.
I pretty much forced my kid to go to school. He wanted to go to auto mechanic school. I told him I was fine if he went to the auto school if he went to a public university first.

I am borrowing the money from myself (401K) and the sad thing is, I'm a better investment than any of the options in my 401K plan by a good 2%.
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