Student Loan Series #2: The Shocking Truth About Out-of-State College Tuition

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In this second episode of our student loan series, we invite you to change your perspective on the value of a college education, especially considering out of state tuition costs, the true cost of loan repayment, and entry level salaries.

In this second episode of our student loan series, we invite you to change your perspective on the value of a college education, especially considering out of state tuition costs, the true cost of loan repayment, and entry level salaries.

In this episode:

  • How much in earnings you would have to make to repay $50K/year college costs; UCLA as an example [1:00]

  • What is the value of education when examining lifetime earnings? [8:00]

  • Why parents need to Just Say No to out of state schools [14:00]

  • The $220K+ job offer instead [16:00]

  • One personal example of how to hack college costs [17:00]

  • Why pay for a Maserati when a Honda Accord will get you to your goal? [21:00]

  • What universities will tell you to get you to sign up today [28:00]

  • Using a multiple of three to calculate the true cost of loan repayment [30:00]

  • Assumptions about the differences between a community college and 4-year institution [32:00]

  • Actual value of community college experience [38:30]

  • The questions you should ask yourself before signing up [47:00]

  • How many years of your life are you willing to give up, working for someone else to pay off your student loan debt? [53:00]

  • Why this should be a family decision with a hard look at the long-term financial implications for all involved [57:00]

resources:

National Center for Education Statistics. Residence and migration of all first-time/degree seeking undergrads in degree-granting postsecondary institutions

UCLA fees, tuition and estimated student budget