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Comment by rayiner

I agree with the ultimate sentiment, which is that it's generally inadvisable to try and pay your way through school these days. The federal government will let you and your parents borrow as much as you need to pay for school, and you'll make more money after you finish your degree, so your efforts are better spent trying to finish in as few semesters as possible to minimize the amount of money you need to borrow instead of trying to pay for things as you go.

This is an area, unfortunately, where kids from wealthier families have a huge advantage. Even if your parents aren't willing to pay for college for you, they are much less likely to be hesitant to take PLUS loans on your behalf that they expect you to pay back. And as a general matter, people who came from wealthier backgrounds are much less afraid of debt and leverage.

I'm not saying that it's the most desirable state of affairs. My total cost of attendance in the early 2000's at Georgia Tech (in-state) was only $10-12k (including housing and food, tuition was just a few thousand) which I could make during the summer. But that's increasingly something that's not possible, even at state schools. And under the new paradigm, debt is the way to go. Especially with the new PAY-E repayment terms.

parent rayiner 13 years ago

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