Quote:
Originally Posted by mcjaredsandwich
I'll say this...We thought the financial collapse was bad in 2008 when the low interest rates for mortgages caught up with people who couldn't pay their debts.
Now, every 18+ year old coming out of high school is told their only way to succeed is to get a college degree. Tuition rates are increasing yearly and college textbook prices are through the roof. A kid graduates from school, some are passed through with failing grades, and the kid is told they have to have a college degree to be successful.
Colleges are more than willing to hand out a student loan to some kid studying an art degree, general studies, business, agriculture, economics, engineering, etc., and MOST students are middle of the road students. We have kids spending upwards of 100k on a BACHELORS degree with no real job opportunities coming out of school. 100k to pay back is a hefty sum, I don't have a doubt in my mind that the government backing student loans will be the next major financial crisis.
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Great points, but in Louisiana, it is not so bleak, due to the TOPS program which will pay 100% if the tuition at Louisiana colleges and universities for high school graduates meeting certain requirements, which are not that tough. For students who can live at home while attending college, they's have to work really hard to accrue anywhere near 100k in debt on these programs.
See:
https://www.osfa.la.gov/TOPS_O.htm
https://www.osfa.la.gov/TOPS_T.htm
The TOPS Opportunity Award pays for tuition and certain fees at any of the Louisiana Public Colleges and Universities. If a student attends a college within the Louisiana Association of Independent Colleges and Universities, the award amount will be the weighted average tuition of public-degree granting schools.
Standard Eligibility Requirements
- Minimum High School GPA of 2.50 (GPA computed on core courses only)
- 19.0 Core Units
- Minimum ACT Score (or SAT Equivalent) of the prior year state average; Currently 20
- Must enroll full time as a first time freshman, by the first semester following the first anniversary of high school graduation
- Be a US citizen or permanent resident
- Meet TOPS Louisiana residency requirements
*BESE-Approved Home Study Eligibility – ACT/SAT Score of 2 points above standard – Currently 22
*Louisiana Residents graduating from an eligible out-of-state/country high school – ACT/SAT Score of 3 points above standard – Currently 23
Renewal Requirements
- Minimum 2.30 GPA at the end of the first Academic Year(between 24-47 hours of earned credit) 1
- Minimum 2.50 GPA at the end of all other Academic Years (once 48 hours have been earned) 1
- Maintain steady Academic Progress at the end of all other semesters/terms (2.00 Cumulative GPA) 1
- Student must be enrolled full-time as of the 15th class day at a semester institution or as of the 10th class day at a quarter institution and maintain continuous enrollment2
- Earn at least 24 Credit Hours for Academic Year (the TOPS Academic Year begins with the fall term of the award year and concludes immediately before the next fall term commences. All intersessions and summer sessions are included)
- Hours earned during the Intersession between Fall and Spring Semesters will be counted toward meeting the 24 Hours Annual Requirement but not toward Full-Time Enrollment
- For more information on courses that will and will not fulfill the 24 Hours annual requirement click here.
1 Suspended Award will be reinstated if appropriate GPA regained within 24 months.
2 Failure to enroll full time, maintain continuous enrollment or earn 24 hours results in cancellation of award and it cannot be reinstated without an Approved Request for Exception to the Initial, Continuous, Full-Time Enrollment and/or 24 Hour Requirement.