[John Mayes]

Originally Posted by OrangeBlossomBaby

That was great advice in the late 1970's, when colleges and universities were affordable, you could get guaranteed student loans from the government and start paying monthly a full year after you graduated, and were allowed to defer your loan if you fell on hardships.

It was great, back when your earnings with that college degree, were typically enough to cover the cost of those loans (perhaps with a year or two deferral over the course of a 10-year loan).

Here's the costs for FSU:

$23,486 is the "full tuition" which most people don't ever have to pay. That's their MSRP. The "overcharge" they impose so they can pretend you're getting a great discount if you aren't paying full price.

The most anyone actually pays is $16,126, if their household income is over $110,001 per year.

If you're living in poverty and your household is pulling in less than $30,000/year you only have to pay $4,950 per year to attend, after you get all your aid and scholarships and grant money.

But wait - if your parents are only earning $30,000 per year - where is that $4950 coming from to pay the annual expense of going to college?

Even more - if you don't live near that college, you will need to pay for an apartment, or room/board in a dorm. That's extra. Who's paying for that? If you commute, who's buying you your car and paying for the insurance and gas? Remember if you come from poverty, it's not likely your parents have ever had enough money for an extra vehicle for their kid(s).

Compare with community college - I checked North Florida College, a 2-year school. Their "price that no one actually ever pays" is $12,754/year. If you earn more than $110,001 and get all the aid available, you only pay $6,401/year. If you live in poverty with household income under $30k, your cost after aid is only $1206/year. That - you can easily save up working part time weekends during your 4 years of high school at Burger King so your parents don't have to inconvenience themselves by going without such luxuries as - food - to pay for Johnny to get an Associates degree in something.

Excellent post.