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Comment by wtvanhest | Hacker News Reader

It is impossible to 'work your way through college' now unless you are making $50k/year part-time. State schools start around $10k/year just for tuition. All in costs are $30k/year+.

I'm so glad I went to school 15 years ago. Students today are totally screwed.

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If in-state tuition is 11k (my case), you don't think you can make that while going to school? Granted, I worked and of course, there were other expenses, so I didn't get out loan free. But it's possible if you're some sort of penny-pinching masochist...

The math is very simple, you need about $30k/year which is $50k pre-tax. That is 50 hours a week at $20/hour with no weeks of vacation + school.

It is extremely difficult to make $50k/year with no degree or experience. That is almost the house hold median income in the US (2 people working). (Currently: $59k/year)

> The math is very simple, you need about $30k/year which is $50k pre-tax.

This is wrong.

$30k - $12k standard deduction = 18k taxable, 0% tax on 0-$10k, 12% tax on $10k-$18k = -960 taxes owed, then you get 2500 American Opportunity Credit or $2000 Life Long Learning Credit. So if you earn 30k as a "full time student" you would take home ~$31k less 0-10% state income tax on $18k

Good point. I can no longer edit my post. Even still, $30k per year is too much for the majority of people.

This is so untrue. I just looked it up, and costs aren't that much different than they were when I graduated in 2006: https://trends.collegeboard.org/college-pricing/figures-tabl...

Looks like the median for tuition and fees at state 4-year schools is around $10k. My contention: if you can make ~$15k per year, you can put yourself through school.

First, you can start at community college, which is very cheap in most states. And many states have a deal where you are guaranteed admission and transfer to the 4-year system if you get good grades at community college. So that'll save you some money.

Second, many states (and possibly the Federal government) offer grants to help defray these costs. You can also apply to tons of private scholarships.

Third, you can live very frugally in terms of lodging and food. Not fun, but doable.

Fourth, you can take out a little bit in loans. If you take out $5k / year in loans, you'll have $20k at graduation. Hardly crippling.

I actually did this, though I also had the GI Bill so I didn't have to do the loans part, so don't tell me it's not possible. It's not easy or fun, and I'm not saying we can't improve it, but today's students are hardly totally screwed.

To be clear, you didnt do it bc you had the GI bill so dont claim you did.

College tuition has sort of switched to "sliding scale". For example, 40% of UC Berkeley undergraduate students pay zero in tuition despite the sticker price.

Berkeley is an exception. Most state schools do not offer nearly that level of aid. If you are upper middle class (i.e. parents make $70Ksh-$150ksh), and you don't have exceptional grades, you will pay the sticker price and you will leave school with $20k-$75k of debt. That is before adjusting for the rapidly rising price of college which will no doubt continue rising at 7%-10% per year over that 4 year period.

Honestly, leaving school with $20k-30k in debt is hardly the end of the world. That's what, $200 - 300 / month? Seems well worth it for a 4-year education of even decent quality. Beats the alternative.

Note: I'm not saying that we shouldn't do a better job of funding higher education, but this level of debt is not crippling. The real issue to me is people who run up high five figure or low six figure levels of debt for low-quality degrees or institutions, or who don't finish, or who are being trained for a career that will never make enough to have that be a positive ROI.

While students may be especially fortunate to live in California, my understanding is few even in other states at the $75k family income level pay sticker price. Note also that median family income in the US is around 60k. For example, at UW, CollegeSimply reports the net price for a family income of $48,001 to $75,000 is $10,231: http://www.collegesimply.com/colleges/washington/university-...

Average student debt of those who borrow is in the 20s-30s of thousands at most schools. $75k of debt for an undergraduate degree would be an outlier anywhere. https://lendedu.com/blog/student-loan-debt-statistics-by-sch...

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