RE: Student loans and making mad cash overseas
Just read the last few pages. A few thoughts:
About the guys making mad cash out of the country? I travel often and have plenty of reason to come into contact with EXPATS. One I know just landed a gig with KBR in Australia for near $200K U.S. plus expenses a year.
Exception, not rule. Most of the expats I know struggle to make $50K a year.
For the ones who have gone completely on the local economy? Why would anyone assume that they would make any more than the locals doing the same job? Unless of course they had a rare skill not possessed by the locals.
There are many newer expat communities where the residents expect a level of service above what the locals can provide and may pay for it....but let's remember, they are there mostly to live on a limited budget, so how much more will they really pay?
A friend of mine is looking at Belize because he can live there on less than $1300 a month and his pension will be $1900 a month. What are the chances that he's going to pay mad cash to get his boat fixed?
I posses a rare and mysterious skill which would easily earn me several hundred thousands of dollars a year in select countries......No thanks. I'll pass. I like it here just fine.
As for College? I put my kid thru college in four years. we paid for most of it and borrowed a total $8K.
1. College costs will rise to consume all available funding. Making loans easier to get or cheaper won't control costs. It will do the opposite.
2. Not everyone belongs in college. Sorry, that's a hard fact that goes against our current touchy feely climate. Some kids? Belong in a factory making widgets. Let's spend some money finding meaningful jobs instead of education kids who don't belong there for jobs that don't exist.
3. No more free rides. A kid going to college needs to have some skin in the game. If they really want to go, they'll figure it out. Uncle Sam giving away cheaper loans won;t do anything but make it more expensive. I gave my son what I was giving and the rest was on him. He worked, he saved and he scrimped to get by. And he knew I was only playing for 4 years. Not 4 1/2 or 5. I was paying for education, not drinking and banging young hot skanks.
I've got three kids that are all straight A students and two left who need college. I could buy a new Corvette every year...but instead I save for college. Because that's what grown ups do. I was making $11 an hour when my son was born 24 years ago. In 24 years I've done some crappy jobs and I've worked for a lot less than $11 an hour and I make a whole lot more than that now. All the time I've missed from work in the last 24 years adds up to less than 3 months. Total. And that includes the recession of the early 90's.
If I made less, I would pay for my kids to go to a school more in line with what I could afford. And if my kids weren't college material? The Military is a fine place for a young man and there are plenty of vocations that require minimal (18 months or less) training for a young lady to take up.