How are you paying for your DL degree?

There are also considerable tax benefits to paying for education with cash, as well. I do it so that I don't take on a debt. I don't like debt, regardless, and since one never knows what the future holds, if I don't need to take on debt, I don't.

 

I totally agree. I have plenty of investments so the miniscule amount I would get on student loan money is not worth it to me. Like you, I feel a debt is a debt and rather have as few as possible.

Just my opinion

 

Unless you have an insanely good investment idea, that's just not a good option for most people. Let's say you have a 3% interest rate Stafford loan. You'd need to make a 5% interest on an investment... and even then you'd only be getting about a 2% return when you subtract the loan interest, so you might as well be putting the money in a simple, less risky savings account. You're better off paying tuition in cash and staying debt-free.

That reminds me, I knew a philosophy grad student who took out a Stafford loan and spent all $8,000 on high-end digital equipment for his hobby of bootlegging Bob Dylan shows. I never knew whether to pity or respect him for that...

 

Re: To Horne from Ottawa

I am studying through two schools in the United States. I am pursuing a AA in General Studies (Concentration in Counterterrorism) at AMU (www.apus.edu) and an AS in Computer & Digital Forensics at Champlain College (www.champlain.edu).

Previously, I was studying though Athabasca University (athabascau.ca) but the 6-months per course was taking too long since the courses were correspondence format. I have been comparing the depth of material coverage between Athabasca University and AMU and Champlain College; overall the depth is about the same though obviously there are a few differences considering 6-month courses versus 7-or 8-week courses are different animals. AMU is NA while Champlain is RA but so far I have not encountered any significant differences in the quality of the courses, delivery method, or professors.

Perhaps Athabasca University will move into the 21st century and make most of their courses available on-line and with compressed formats more suited to working adults. Champlain does in fact offer 7-week accelerated courses for working adults working in areas where they are already experienced or very familiar, and 15-week courses for those lacking the necessary background to successfully navigate the 7-week compressed format. So it can be done.

 

Re: To Horne from Ottawa

Actually Horne and I used to go to the same online school
My tuition cost me a total of $4,200 for the entire MBA so I think I got lucky, and did not have to finance it at all. Actually my wife also helped me out by pooling our earnings. For textbooks, I used to buy used ones from half.com so they were about 20 to 40% of the original price... that slashed the grand total some more.

As for Canadian DL, it's just beginning to happen... In my opinion, Australian DL prorams are quite mature, and a bit more economical than those in the UK.

 

Angela:

Thanks for the link.

A valuable Web resource.

BTW, I tried to post this yesterday, but I couldn't get this bleepin' board to post it.



marilynd

 

Yes, but it isn't debt. You can still pay your tuition out-of-pocket, and throw this "free money" into whatever type of investment your risk tolerance allows. It is an arbitrage situation subsidized by the government.
The subsidized loans earn no interest while you are in school.
The unsubsidized loans' interest rate is very low.
The interest you pay is deductible regardless of whether you itemize or not.
So for an average, single person making around $50,000 a year (I realize many here make a lot more than that, and the cutoff points certainly should be considered), the real interest rate is probably around 1.5-2% right now. A person could easily beat that with very little risk, and by the time he/she finished school the difference in the balances and growth rate of these two accounts (loan and investment) would be exponentially increasing (because of compounding).

Like I said, it isn't debt, it's increasing your net worth.

Tony

FREE MONEY

 

My own pocket.
It's hard and making me go very slowly. But the advantage is that it acts as a strong motivating force to study because I really cannot afford to waste any of those expensive exams (with travelling to London and other places included).

 

"Straight cash, homey" as stated by Randy Moss after being asked how he was going to pay a fine given to him by the NFL.

My words might be a little different, but the spirit the same! Cash!

 

I am taking classes here at UOP and at Penn State's world campus (to help satisfy some grad credit) and Apollo is footing the entire bill for both, can't complain.

 

aic712 (Myles)- I'm curious - What is UOP and at Penn State's world campus?...what the relationship between UOP and Penn State?

I suspect that Apollo is paying your tuition because you work for them...correct?

Cheryl

 

aic712 (Myles)- I'm curious - What is UOP and at Penn State's world campus?...what the relationship between UOP and Penn State?

I suspect that Apollo is paying your tuition because you work for them...correct?

Cheryl