Would you pay?

[Lux Et Veritas Academy]

Would you pay the high price of college 40,000-55,000 per year at a good school to become a school teacher?

 

This is for my daughter-

 

I am in an emotional crisis on whether or not college is worth the high price tag these days- looking for solutions!

 

Thanks in Advance!

 

 

Give the Gift of Service- Visit our family foundation online

http://www.colormyworldkids.org

Edited October 28, 2011 by Lux Et Veritas Academy

[creekland]

Are you talking for yourself as a second career or for a student starting out their adult life?

 

Is your price tag the annual cost for a top private college or the total cost for a state school?

 

Is it affordable (with cutbacks) or would you be relying on debt?

[speedmom4]

If I could truly afford it, then yes. If I had to go into debt for it, no.

 

Elise in NC

[Harriet Vane]

Is that your actual cost, or cost after financial aid? Is there any grant money available to you? Is this for you or for your child?

[Rhonda in TX]

Is that per year, or total cost? Per year? No. Total cost? Maybe. Schoolteachers don't have a guaranteed job anymore. I know several people with recent education degrees who can't find jobs. There have been a lot of cutbacks at schools around here.

[Chris in VA]

If you mean total cost, then yes, I'd pay that for a BS ED degree.

 

A good, experienced teacher can make 60-70K a year in the right market. Or more, esp if it's a Special Ed degree.

 

A four-year degree can open doors in other areas, too--one is not limited to teaching in a school, or even to teaching, period.

 

The college experience, for some people, is about more than the degree and career afterwards. It can (not always, but can) broaden one's mind, deepen one's thinking, even change one's heart, for the better.

 

Just some reasons I think it's worth it--or can be.

[Brenda in MA]

Would you pay the high price of college 40,000-55,000 at a good school to become a school teacher?

 

I am in an emotional crisis on whether or not college is worth the price tag these days-

 

Thanks in Advance!

 

That's a good question! If I could afford that much and it wouldn't put me in huge debt and wouldn't drastically impact our lifestyle or our future or the futures of other kids, then, yes, I'd pay for a solid education at a college that was a good fit for my child.

 

If I couldn't comfortably afford that much, then, no, I would not send my child to that college. I definitely think a college education is worth while, and it would be necessary if my child wanted to become a teacher. So if I couldn't afford the high cost you listed, I would look for cheaper options. My child could live at home and attend a local community college and then transfer to a state college. My child might also be able to live at home and communte to a local state college or university. Many schools offer teaching degrees. If my child had high test scores/grades, I would also look for some colleges that might offer a merit scholarship to reduce my out-of-pocket costs.

 

To me, the situation is so dependent upon one's individual situation and each particular child, that there is no one "right" answer.

 

Peace to you as you and your family work through a difficult time.

 

Brenda

[Lux Et Veritas Academy]

If you mean total cost, then yes, I'd pay that for a BS ED degree.

 

A good, experienced teacher can make 60-70K a year in the right market. Or more, esp if it's a Special Ed degree.

 

A four-year degree can open doors in other areas, too--one is not limited to teaching in a school, or even to teaching, period.

 

The college experience, for some people, is about more than the degree and career afterwards. It can (not always, but can) broaden one's mind, deepen one's thinking, even change one's heart, for the better.

 

Just some reasons I think it's worth it--or can be.

 

Actually Chris- I agree that college is more than the degree.....and teaching is still valuable, I am not sure if I want to have her go to a school that cost 50000 dollars a year ...aughhh......but I definitely want her to have a college experience and since she will have completed two years at the CC in high school- I hope she makes a fun and valuable decision!

[Lux Et Veritas Academy]

Is that per year, or total cost? Per year? No. Total cost? Maybe. Schoolteachers don't have a guaranteed job anymore. I know several people with recent education degrees who can't find jobs. There have been a lot of cutbacks at schools around here.

 

Rhonda, That is per year- I am not sure it is worth it! I agree teachers are having a rough time getting jobs....She definitely needs to get a 4 year degree- but what we are willing to spend at this stage of the economy is still being debated.

[Lux Et Veritas Academy]

Is that your actual cost, or cost after financial aid? Is there any grant money available to you? Is this for you or for your child?

 

This is for my daughter- no grant money or financial aid available. It is the curse of hard working America. We have worked hard and saved, yet there is no way we could save 52,000 a year each for four kids.....looking at all of our options now. We have done the local CC for high school and she will graduate with AA from there.

[Sebastian (a lady)]

Actually Chris- I agree that college is more than the degree.....and teaching is still valuable, I am not sure if I want to have her go to a school that cost 50000 dollars a year ...aughhh......but I definitely want her to have a college experience and since she will have completed two years at the CC in high school- I hope she makes a fun and valuable decision!

 

Is she planning on getting just an ed degree or a degree in something else with the necessary ed courses for certification? What about getting a science or math degree with the teacher courses? Or a BS in math or science then a quick MS in ED (I was able to earn my MS in about 18 months, including courses over the summer. This was for a non-thesis program.)

 

Would she be earning a specialization like reading specialist, gifted ed or special ed? What about ESL?

 

I personally think that might be a rather steep price for an education degree. I'm not sure that the source of an education degree matters the way that it does for other professions. It seems like jobs in education are most available in districts where the burnout is high and the pay is low.

[butterflymommy]

I definitely would not pay this, particularly for an education degree. There are a glut of recent education majors in the job market, and the job doesn't pay well enough to justify that kind of debt. Is there a less expensive college within an acceptable distance she could attend? Also if she is going into education she should specialize in something (literacy, special ed, ESL etc) as those degrees have fewer applicants for jobs (this is advice from my mum, a retired teacher/ principal) and the pay is often higher.

[kiana]

That's an awfully high $ per year for teaching. If you (the parents) have the money to spend, that's up to you, but if it requires loans that she'll have to pay back I'd say it's absolutely not worth it.

 

If merit aid's in the question, go for it. See what you get.

 

If not, she should be able to find a school for a lot less than that, even if it means living at home. Many college kids are dead-set against the idea. When they look at the costs, at mom/dad saying "Here's what I can afford" and at how long it'd take to repay loans, it may seem more reasonable.

[Jane in NC]

This is for my daughter- no grant money or financial aid available. It is the curse of hard working America. We have worked hard and saved, yet there is no way we could save 52,000 a year each for four kids.....looking at all of our options now. We have done the local CC for high school and she will graduate with AA from there.

 

My son attends one of those LACs with a high sticker price; however, most parents do not pay that price due to the generosity of the alumni who have made a variety of merit aid scholarships available to students.

 

You really need some strategy going into the process. We have a high EFC so my son applied to several schools known to give merit aid. Granted, it would have been cheaper had he attended a state university here in NC where his CC credits would have transferred. His LAC does not accept dual enrollment credit (although AP credit is given--score dependent). But it was not my son's goal to finish college in less than four years--nor does financial necessity dictate this to happen thanks to merit aid.

 

There is not a single formula that works for every family. Welcome to the learning curve!

[Quiver0f10]

I think a college education is wonderful but I wouldn 't pay $40-50K a year for one, unless I was planning on a career that was highly competitive. Even then I am not so sure I would pay that much. There are plenty of less expensive state schools.

[Susan C.]

We are not in a position to go into debt for college for the kids. We have a senior in college, he is going to a state college and has had a great experience. Dd will go the same route. I told the kids that the equivalent of a car loan for college (about $20,000) wouldn't be bad at graduation (the loans being theirs), for either under-graduate or graduate studies.

[Lori D.]

For us, simple math calculations certainly suggest a strong NO answer to your question of "would you pay?":

 

$52,000/year (assuming NO tuition increases, which is highly unlikely), comes out to $208,000 in tuition. Then there are class fees, books, transportation costs (gas/auto upkeep/parking passes, or bus pass fees). (And if she is living away from home, she would also have rent and living expenses -- another $50,000 for 4 years.)

 

Even if she lived at home all through college AND for the years afterwards AND used ALL her teacher salary to pay off college it would take a MINIMUM of six to eight YEARS to pay off college costs, at the current potential starting salary of teachers of $25,000-$35,000/year.

 

And what if she meets someone and wants to get married? Is she willing to bring that much debt into a marriage -- or would he be willing to take on that much debt? What if he has a huge college costs to pay off, too? Would that mean they will both have to work and be 35 years old before they have paid off college debts and can even think about buying a home or having children??

 

 

What's the drive to go to THIS college? Isn't there a cheaper public university in your state? What about she moves to another state, works full time to save money for a year to gain state residency status, and then goes to the much cheaper state's public 4-year institution? (Tuition at the public universities here in the Southwest have doubled in the past 3 years, but are only running just under $10,000/year by comparison.)

 

What does the university offer in the way of:

- a work-study program

- transfer scholarships (start at the community college then transfer)

- freshman scholarships, merit scholarships, scholarships offered within her field of study by individual donors

 

What about the credits she's earned for her AA degree -- wouldn't a number of them count towards gen. ed. requirements for a 4-year degree, lowering the number of semesters she'd have to attend ANY 4-year college?

 

Or what about taking some of transferable gen. ed. credits at the community college, reducing the time (and money!) spent at a 4-year university to just 2 years?

 

What about using her AA degree to get a decent full-time job NOW and working for 2 years and either save the money towards college, or a down payment on a home (and then have roommates whose rent would cover the monthly house payment)?

 

What jobs in the education field would be open to her NOW, without a 4-year degree? Would she be just as happy doing that, and wait and see what happens with this "college tuition bubble" over the next few years?

 

What about an accredited online 4-year degree program?

 

 

Hmmm... I notice a trend in all my questions -- the assumption that while you will contribute what you can, that DD will be ultimately responsible for her college costs. Is that your family's foundational assumption, and if so, is DD aware of that and taking that into consideration? We're in the midst of all this ourselves right now, so lots of empathy -- alas no solutions! BEST of luck! Warmest regards, Lori D.

Edited October 28, 2011 by Lori D.

[Lori D.]

Lux, I just read your post at your Domestic Lifestyle blog. I may be missing the boat here, and I really don't mean to sound harsh, but after reading your post, it certainly sounds like the problem rests with your daughter's attitude and desires, not with you. It certainly sounds like there ARE some low-cost options available to your DD -- from your blog post, she sounds unwilling to consider them. Her goal seems to be living away from home and the social options available through the university (i.e., dorm life).

 

Perhaps the real issue at this time is NOT "should we as parents pay this $52K/year or not" -- but rather, time for a serious heart-to-heart with DD. Watch the Dave Ramsey Foundations in Personal Finance series together. Go over your family budget together, and show her that your offer is pretty generous, considering you also have 3 other children to provide for now, and to save for THEIR college/career futures, too.

 

I also think we have to be careful and not fall into the trap of US assuming we are supposed to provide a college education and easy road to a career for our children -- and I think sometimes our DC assume or expect that of us... What about the life lessons and character development we deprive them of by handing college to them on a silver platter? Butterflies die if they are helped out of the cocoon -- they actually NEED to struggle fiercely to free themselves in order to develop properly to be able to fly.

 

Maybe the best decision right now would be a "gap year" -- to have DD move out upon graduation and work for a year. Sometimes I don't think our DC really "get" how much they have been given until we're not providing it for them any more. I know I was very appreciative of the scholarships I received and any gift anyone gave me when I moved out from my parents' home and was working/going to college full time! But at the same time, I valued being able to make my own decisions and be responsible for myself. I did enjoy doing some social things with friends at work, college, and church, but also was acutely aware of my budgetary limits since I had to earn all the money for food, rent and socializing. :)

 

Forgive me if I am speaking out of turn, or without understanding the situation. I do not mean to offend -- I think I am partly talking to myself because I will probably have to have a hard talk in the next months with our 2nd DS who is 12th grade this year about responsibility and what is he going to do with his life...

 

Just rambling... BEST of luck! Warmest regards, Lori D.

Edited October 28, 2011 by Lori D.

[creekland]

If she's already done two years, I'd be looking at the state college option rather than a private school unless there were some extremely good reason to choose the latter. Without freshman scholarships private schools are really pricey (though the $52000 quoted usually includes all costs associated with going somewhere - not just tuition).

 

I don't have personal experience with it, but some on here have mentioned their kids got scholarships as transfer students. Perhaps they'll chime in with more details.

 

I wouldn't be comfortable graduating with more than $15,000 - $20,000 in debt for an education degree and then it would be best to be in a desired educational field (like math or science) due to job availability.

 

Teach for America is another program to look into, but I've heard it's extremely competitive to get into.

[Vida Winter]

We are in a similar situation financially - have saved for college for several children for *years* but costs are rising so rapidly that we will not have enough when it is all over. For that reason we are looking at state schools or "neighboring" state (WICHE, which may be available to you) with good, achievable merit scholarship opportunities based on ACT and SAT scores. Private college would only be considered with a substantial merit scholarship, so although we are not ruling it out, chances are probably slim. So, to answer your question, no we would not pay in that situation, because it just doesn't make sense. Our kids do not need that kind of debt when they graduate.

[caedmyn]

My kids are young so this won't be an issue for a long while...but I'd be inclined to say, "here is what we can give you for college. That will cover the two years you need to get your degree at a state school, or one year at the out-of-state school that will take you four years to graduate (or whatever it would actually cover)." Then sit down and show her all the different options. Make sure she understand how much she'll be repaying each month if she chooses to get student loans.

 

As a PP said, it really makes financial sense to take a gap year, move to the new state, and work there for a year to gain residency so she can qualify for in-state tuition, if she's really set on attending a pricey out-of-state school.

[Jane in NC]

 

As a PP said, it really makes financial sense to take a gap year, move to the new state, and work there for a year to gain residency so she can qualify for in-state tuition, if she's really set on attending a pricey out-of-state school.

 

Yeah but a number of public universities are on to people who do this. I have known colleges deny residency status to students who take a gap in a different state for the purpose of establishing residency. I suspect that less competitive universities might be more generous but schools like UNC-CH do not grant residency status to students who have appeared to move to NC just for the sake of the tuition benefit.

[Michelle in MO]

I would agree with the thoughts of others who have posted: If the price tag is for a four-year education, then that might be worth the price tag. If it's per year, and especially if you have to accrue debt, then I would say not.

 

I am currently in a graduate certificate degree in English education at a rather pricey school. I should mention that I also have no debt, since I do not have to take a great number of courses at this institution. I had a conversation with a fellow student about a year ago, who had funded his entire college education through student loans at the initial cost you mentioned (per year, in his case). He too was planning on becoming a school teacher. What is especially tragic in his situation is that he is no longer in the program.

 

I would also encourage your daughter to look into the philosophy of education espoused by this school. My past years of homeschooling, plus my own readings and convictions on the matter, have so strongly influenced my philosophy of education that I am quite at odds with the program. However, I am committed to finishing the course before me and am hoping that my teaching futures lies in a direction which I can more fully embrace.

 

If you want more information, please feel free to send me a PM.

[Michelle in AL]

I have a dd in a similar situation: wants to go into nursing (not terribly high pay) and a readily available degree at several excellent in state schools. She would love to go to Biola (less $ than $50K/yr). Her reasoning is the strong Christian values, combined with location (Cali, she is a true Cali girl stuck in AL ;) ) along with the MOST important factor: being close to a beach!! She does LOVE the beach, but is that worth the price? An adult mind would instantly say no, but the idealism and not totally rational thinking of youth, would say no.

 

We are financially stable, she is a great girl who applies herself and is morally upstanding IMHO, but I still could not reward that with that expense.

 

The only way I could is if she received scholarships equal to what it would cost to go locally.

 

For me, I think allowing it would not be teaching a very valuable lesson regarding money.

Edited October 29, 2011 by Michelle in AL

[LizzyBee]

Would you pay the high price of college 40,000-55,000 per year at a good school to become a school teacher?

 

This is for my daughter-

 

I am in an emotional crisis on whether or not college is worth the high price tag these days- looking for solutions!

 

Thanks in Advance!

 

 

Give the Gift of Service- Visit our family foundation online

http://www.colormyworldkids.org

 

Per year? No. Our state has excellent education programs at a couple of the state universities. The starting salary here for teachers is less than $30k for public schools (and the pay scale tops out at $60-$70k), even less for private schools. I want my kids to get through college with no more than $20k debt so that they can manage the payments, and there's no way they could do that if they attended an expensive private college.

 

At the HEAV conference several years ago, SWB talked about the value of not going into debt for college in order to have more options after college. A graduate who is heavily in debt is tied to a lucrative job offer rather than having the freedom to pursue his/her dreams. She also said that an Ivy League education is not worth what it once was relative to a good non-Ivy degree, including many state universities.

Edited November 1, 2011 by LizzyBee

[FaithManor]

Yeah but a number of public universities are on to people who do this. I have known colleges deny residency status to students who take a gap in a different state for the purpose of establishing residency. I suspect that less competitive universities might be more generous but schools like UNC-CH do not grant residency status to students who have appeared to move to NC just for the sake of the tuition benefit.

 

 

Colleges are determined to have access to the parental pocketbook because 9 times out of 10, that purse has more in it than the independent student. Literally, when it comes to financial aid departments, you may as well be pulling teeth on an elephant without sedatives to try to get a child's state of residency switched from the parent's home state much less be declared independent. In Michigan, they are seriously onto this and unless the student has lived here at least two years and is generally over the age of 21 and has not a solitary bill that mom and dad have helped with, they will not allow the student to get in state tuition if the parent is living elsewhere. Gaining residency status for in-state tuition is a lot like going through the immigration interview to see if someone married just to stay in the country! It's not pretty and rarely turns out well. :tongue_smilie:

 

I think the minimum for our state schools is for the student to a. not be on parental medical insurance. b. not have car insurance through the parent. c. for their vehicle to be titled and licensed in state in the student's name only with proof of purchase. d. for two years of state income tax to have been filed for a full-time resident...no part-time residency allowed e. to be 21 or older. Then, sometimes, the student can convince the college to give them in-state tuition. f. employer verification that the student moved to the state for the job...as in, was offered the job before moving. Yes, the universities do ask for these proofs. I know someone going through this right now.

 

Given how tight the job market is, I cannot imagine that a student could move away from home, work, rent, pay car insurance, pay medical bills, utilties, you name it, and make enough money to save a significant amount towards school much less do so in the hope that in-state tuition will be granted when that is not a guarantee.

 

As for paying $50,000.00 a year for an education degree...well, on principle I do agree that the quality of the education is a huge consideration and part and parcel of the college experience is personal growth, maturity of the mind, quality and quantity of faculty/student interaction, etc. and therefore, should not be discounted. But, one does have to be pragmatic about these things. In our state, the average starting pay for a teacher is $35,000.00. In our school district, starting pay is $29,000.00. Even two years of school if the loans were large, could mean a loan payment that is a heavy burden. Given that education budgets have been cut around the country, I would be very worried about incurring that kind of debt load for the degree.

 

Additionally, there is a maximum in both private and federally guaranteed loans that a student can take out each year and it's fairly low for freshman. If significant merit and parental aid isn't given, I would not think that she could afford the bill. I think maximum freshman loans without co-signature of the parent (which means that the student is absolutely going to have tuition based on the parent's address) is below $10,000.00. So, one does need to think, "Am I willing to co-sign for debt? If I am, how much am I willing to take the risk for?" One consideration is that private student loans accumulate interest immediately though payments are deferred and have an unbelievably short grace period after graduation before beginning payments. One of my nephew's loans was only a 30 day grace. It was a $400.00 payment. So, if the student doesn't get a job immediately, mom and dad will most certainly be on the hook for that payment if they co-signed.

 

Lots to consider. I'd be looking for somewhere that offers a good chance at merit aid and given she's going into education and the state of government budgets these days, probably a public university in-state.

 

Faith

[kathkath]

I was a ps teacher for 9 years and I totally WOULD. When I quit 7 years ago I was making $52k with a masters+ and was only going upwards. I was not even in the highest paying district. THere must be cheaper options out there though. Regardless of the pay and regardless of bias on this board against ps, teaching is a calling and if your dd feels called to teach, I would not get in the way.

 

College is not just about the professional degree either.

[elegantlion]

No, not with a degree that was readily available at any number of universities.

[kiana]

I was a ps teacher for 9 years and I totally WOULD. When I quit 7 years ago I was making $52k with a masters+ and was only going upwards. I was not even in the highest paying district. THere must be cheaper options out there though. Regardless of the pay and regardless of bias on this board against ps, teaching is a calling and if your dd feels called to teach, I would not get in the way.

 

College is not just about the professional degree either.

 

I really don't think anyone was saying "Don't let your dd go to be a teacher." but rather "Don't let her take out those kind of loans to be a teacher -- she needs to find a cheaper option if she can't get merit aid."

 

That's certainly what *I* meant -- there's nothing wrong with teaching as a profession and it's a necessary and valuable profession. But starting out life 160k-200k in debt is going to consume a huge chunk of salary for many years.

[laundrycrisis]

Would you pay the high price of college 40,000-55,000 per year at a good school to become a school teacher?

 

This is for my daughter-

 

I am in an emotional crisis on whether or not college is worth the high price tag these days- looking for solutions!

 

 

NO !!! I would find a cheaper way to become a teacher.

[Quiver0f10]

I really don't think anyone was saying "Don't let your dd go to be a teacher." but rather "Don't let her take out those kind of loans to be a teacher -- she needs to find a cheaper option if she can't get merit aid."

 

That's certainly what *I* meant -- there's nothing wrong with teaching as a profession and it's a necessary and valuable profession. But starting out life 160k-200k in debt is going to consume a huge chunk of salary for many years.

 

I agree. I can not imagine paying $200K+ to earn $50K-$60K a year.

[Anne]

I wouldn't pay it - we're looking at retirement within five years! I think you and your dh need to come to some agreement on how much $$ you're willing to contribute to your dd's education (and any younger dc). That will make the discussion much less about you and more about her - how does she want to invest the money available to her educationally?

 

:grouphug::grouphug:

 

It's a hard transition!!

 

Anne

[Michelle in MO]

I was a ps teacher for 9 years and I totally WOULD. When I quit 7 years ago I was making $52k with a masters+ and was only going upwards. I was not even in the highest paying district. THere must be cheaper options out there though. Regardless of the pay and regardless of bias on this board against ps, teaching is a calling and if your dd feels called to teach, I would not get in the way.

 

College is not just about the professional degree either.

 

 

I would have to disagree. I have known professionals (i.e., lawyers and doctors), who eventually make much more than teachers, taking years to pay off student loans. There is no way I would accumulate that kind of debt, especially in this economy when there are better, more economical options. In my previous post, I mentioned a fellow student who has accumulated a huge amount of debt and is no longer even in the program. I believe he is now headed in a different direction at the school--hopefully eventually more lucrative than teaching--but he will still have that debt load to pay off.

 

In a recent discussion with high school students, some of the students had the mistaken belief that, if worse comes to worse, they can forego paying off student loans or that they can eventually "just declare bankruptcy" (their words). Granted, these are high school students. In this discussion, I reminded them that student loans are not dischargeable in bankruptcy court, which means that they must be paid off, even if one declares bankruptcy.

 

We have several very good schools in our state. Two of them offer top-notch teacher's education programs: one with price tag of about $50K (full-time, day school) per year, and one with a price tag of about $14K per year. Obviously, most would choose the option of $14K per year. My daughter is majoring in English education at the less expensive school, and its education department is ranked much higher than the pricier school. I am at the other school, mostly because--for my purposes--its certification program is more flexible and ultimately less expensive.

 

I understand the lure of graduating from a top-notch university and understand that sometimes that can open doors. However, I believe that decision should be made long in advance, through careful savings on the part of the parent and student, scholarships, and discussions between parents and students about the amount of debt that a student can reasonably accumulate and pay off after graduation.

Edited October 29, 2011 by Michelle in MO

[creekland]

The last time I saw reference to a student loan calculator, the average debt (somewhere around $23,000) had a payment around $250 for 5 years to pay off.

 

I consider $250 a good investment toward most jobs. However, double that figure - or triple - or multiply x 10 - and you have a completely different payment or really need to stretch payments out more than 5 years.

 

It's something to consider.

[Mergath]

I think it would depend upon her long-term goals, too. If she dreams of being a kindergarten teacher in a struggling urban school, I'd say absolutely not, because a degree from a state school would be perfectly adequate. If she dreams of going on to a good master's program and working her way up to the higher ranks of a good school system, a degree from a prestigious school might open some doors for her.

 

The problem is that, at this age, few kids know what they want to do twenty or thirty years down the road. But if that's the case here, and she knows she wants to teach but has no more specific ideas than that, I'd vote for a state school.

[Nan in Mass]

Short answer - Just to become a teacher, no. To become a teacher AND have the "college experience", yes, as long as I/we/she could afford it. By afford, I don't mean avoid debt altogether; I just mean avoid unreasonable debt.

 

If I were going back to school to become a teacher, I would go to our local state school and live at home. It used to be a teaching college. It would be relatively cheap. But I would discourage my children from doing this. I would encourage them to go away to school and I would encourage them to pick a school where the students were serious and where they would grow intellectually and make lifelong friends.

 

Nan

[mommymilkies]

I agree. I can not imagine paying $200K+ to earn $50K-$60K a year.

 

I've never seen an el Ed teacher make more than $30k. I would not go into that kind of debt or have my dd go into that kind of debt for an education degree. No way. In our state, it's nearly impossible to find a job in education right now anyway. That would be a recipe for disaster.

[AngieW in Texas]

I wouldn't recommend that much cost to anybody as an annual cost for 4 years regardless of what the major was. If she could do it at that annual cost and graduate in 2 years, I can see it. If she only needs 2 years to finish (because of having an AA already), then the total is $80,000-110,000. That's still a lot, but it is in the realm of possibility.

 

The nice thing is that Education degrees are offered at most colleges. Surely there's a college somewhere that she would consider going to that costs less.

 

The major thing is whether or not she can get some type of scholarship. Our EFC is higher than the annual cost of the school our dd is attending, but she is going to a state school and they accepted 42 of her 45 cc credits and she has in-state tuition rates. The cost at her school to be in the dorm and have a full unlimited meal plan is about $20,000/year for residents and $29,000/year for nonresidents. I can't imagine an annual cost as high as what you're talking about.

 

Is there any possibility of merit aid? Has she taken the SAT yet? Is she in range for National Merit?

 

Some schools are known to be generous with merit aid and others are not. We live commuting distance from a very sought-after state school, but since they are extremely stingy with merit aid, it would cost a LOT more for our dd to go there and live at home than it would for her to go where she is now and live on campus.

[Quiver0f10]

I've never seen an el Ed teacher make more than $30k. I would not go into that kind of debt or have my dd go into that kind of debt for an education degree. No way. In our state, it's nearly impossible to find a job in education right now anyway. That would be a recipe for disaster.

 

The poster I was referring to said she made $52K a year so that's why I said $50-60K.

[Barbara H]

Most people do not pay "sticker price" at private colleges. I would suggest looking at the net price calculators on the college websites and seeing what sort of discounts or scholarships she might get.

 

For me the key consideration wouldn't be that she wants to be a teacher because the reality is that the vast majority of students change their majors anyway. You could agree to pay for the private university with the idea your kid is premed only to have her change to social work down the road.

 

As soon as possible, I would encourage you to calculate what you can afford and are willing to pay and to share that information openly and honestly with your daughter. The earlier in the process that this can happen, the better.

[Jane in NC]

Most people do not pay "sticker price" at private colleges. I would suggest looking at the net price calculators on the college websites and seeing what sort of discounts or scholarships she might get.

 

For me the key consideration wouldn't be that she wants to be a teacher because the reality is that the vast majority of students change their majors anyway. You could agree to pay for the private university with the idea your kid is premed only to have her change to social work down the road.

 

As soon as possible, I would encourage you to calculate what you can afford and are willing to pay and to share that information openly and honestly with your daughter. The earlier in the process that this can happen, the better.

 

:iagree:

 

I think parents need to have that discussion before senior year!

 

Colleges are now required to have a net price calculator on their websites. Perhaps this transparency will help students and parents make better decisions?

[FloridaLisa]

Our family would not choose that. I probably would not even encourage my dc to take on that kind of debt for undergraduate even if they were planning to go into a high paying job. (I would only consider it if our family could afford it NOW or if it was imperative for my dc's field.)

 

There are waaaaay too many variables for the future. I worked with attorneys that were saddled with lots of undergrad and grad debt and it took them years to pay off. If that price was cut by generous merit aid or scholarships, the school might go into the consideration pile. But there are too many other lower cost options at solid schools that open the way to the same career possibilities.

 

Lisa

 

P.S. It's also been my experience that if you are feeling angst now, time alone won't make it go away.

[laughing lioness]

Our family would not choose that. I probably would not even encourage my dc to take on that kind of debt for undergraduate even if they were planning to go into a high paying job. (I would only consider it if our family could afford it NOW or if it was imperative for my dc's field.)

 

There are waaaaay too many variables for the future. I worked with attorneys that were saddled with lots of undergrad and grad debt and it took them years to pay off. If that price was cut by generous merit aid or scholarships, the school might go into the consideration pile. But there are too many other lower cost options at solid schools that open the way to the same career possibilities.

 

Lisa

 

P.S. It's also been my experience that if you are feeling angst now, time alone won't make it go away.

 

:iagree:I would be vary wary about much debt for a field like education-If one of my kids were itnerested I would encourage them to go more the route of a biz degree at a much less expensive place and start a UMS.

[tex-mex]

I've never seen an el Ed teacher make more than $30k. I would not go into that kind of debt or have my dd go into that kind of debt for an education degree. No way. In our state, it's nearly impossible to find a job in education right now anyway. That would be a recipe for disaster.

 

Back in the mid-to late '90's, I worked in a dinky rural school district in CA as a 4th grade teacher and made $38,000/yr. If I had completed my Master's, my salary would have been closer to $42,000 back then. And if I wanted my MA in Elem Administration -- then if I were Assistant Principal my salary would have started at $60,000. If I wanted my MA in Special Ed or other areas like school psychologist, then yes, the pay scale increases. But so does the workload. Like mentioned before, teachers certainly do not go into the profession for the pay! ;) It is a calling.

 

I was fortunate to have had scholarships and grants to attend a private Christian liberal arts college for my BA and credential. But I do know of many other fellow students whose parents went into debt for their education for them to be a teacher. It just depends on what you are willing to do as a family.

 

Personally, if I had to do it all over again, I would have done my first 2 years at a jc -to avoid my having to take out a student loan in my last 2 years of college- then transfer to the private college to save some $$$.

 

There are great programs out there like Teach for America -- if the OP's ds is very serious -- she can apply and get the funds for her education. Working the 2 years at an inner city or rural school is eye opening and will do her a great service for helping our ps system.

 

http://www.teachforamerica.org/why-teach-for-america/who-we-look-for

 

The OP's ds will have to be highly competitive to earn a TFA slot. She needs to already be planning what leadership roles she will do at college (i.e. Student Life council, greek sorority/charity work, big sister, YMCA, club leadership, etc.). And her grades need to be above par. I highly suggest she also major in math or science -- plus get her Masters ASAP for a "bump" in pay scale. They need good math and science teachers. Good luck.

 

ETA: Whelp, I am confused. After reading more posts, it sounds like the OP's ds is not willing to look at state schools for less $$? That is crazy. State schools are so much reasonable and they have clout with area school districts for shadowing, student teaching placement, and more. I still suggest she go the extra mile with leadership skills in college and gpa, tho'. If she wants to teach in a luxury upper class enclave as a ps or private teacher -- it will be competitive. If she decides on private school (salary stinks compared to ps) then she needs both a state credential and credential like an ACSI to be a candidate. Hiring in some private schools in good areas are competitive too.

Edited October 30, 2011 by tex-mex

[toawh]

I'm studying to get my BA in interdisciplinary Education K-8. I'm doing wgu. It's waaaaaaaaaay cheaper. About 6,000 a year. You pay by year and can go as quickly as you want. Also most of the textbooks are available to students as free e-books. And it's all online (except the in school teaching) which in my case is a good thing as I can study fast, take classes back to back and graduate sooner. But not everyone enjoys independent study. I'd definitely look into it though. wgu.edu

[MIch elle]

NO! Not for a school teacher's degree.

[katilac]

Nope. I don't think I would pay it for any degree. Even if my kids were planning on a high-paying job, that high pay goes to them, not me. I would pay the same amount regardless of what degree they wanted, and they have to decide if they are willing to take on the added expense via loans, working, etc.

 

Unless there's an agreement (in writing!) to pay the parents back, I have never thought it was fair to offer one child more family money than another, based on the degree being 'worth it' or not.

[oldskool]

I think with many degrees it is important to pair it with something practical or unique that would either provide a good back up skill in hard times, or set you a part from others during the job search process. Maybe encourage her to be very strong in computer and business/accounting skills along with the education degree. I would think with technology entering the classroom that these may be the new skills to possess in teaching. Technology and business skills also may help her find a temporary job that could pay the bills if she couldn't find a teaching job or wanted to make extra money to pay down debt. Another possibility would be to double up her major so that she could have something extra to offer employers. I was told in grad school to find a niche and get good at it. Anything to set yourself a part during the job search and interview process.

 

I also struggle with the the decision to let the kids take on high debt for their education. I am sitting on a lot and it is a real burden. Especially now that I am grown up and all I really want to do is be a wife and mom. The student loan debt means I have to work. While it is a good security for us to have, I sure wish it didn't cost so much.

 

Lesley

[justamouse]

Hell no. Nothing is worth getting into a 200,000 dollars worth of debt right off the bat for.

 

She'll be paying it off for years, it will be an anvil hanging over her head, she may not be able to afford a house, she'll be lugging that debt into her marriage...that if she has to take maternity leave and decides to not go back? If her husband looses his job and she's the sole provider and paying off two college loans? If he has to pay hers off? No. Being able to pay off that debt is going to control her life until it's paid off.

No. Way the hell no.

Edited November 1, 2011 by justamouse

[MeaganS]

I would never pay that for almost any undergraduate school, regardless of the degree. Maybe I would pay that for a graduate degree, but undergraduate? No way. Especially a low-paying undergraduate degree. My husband is in medical school and we don't even pay that for medical school. It is a cost/benefit analysis for us, and I think you can get good experiences at other schools for way less cost. Heck, if experiences are important, go to a school that is $10,000/year and go a world cruise for $20,000 and then pocket the other $10,000. There are so many things $30,000/year could buy that I just don't think, in most cases, "experience" at a college is worth that much more money. My undergrad college was $5,000/year and I had a great experience.