A demonstration at the University of Prince Edward Island campus Wednesday drew attention to the high cost of tuition fees.
Here is part of a comment on the item about fees at UPEI: "i am spending 5000 dollars just to take 10 courses, i spent close to 500 dollars on books this semester and will have to get more next semester. thats not even including living expenses, rent is ridiculous"
The pips are squeaking - my warning is "Please think about what it may mean to leave with a BA and a big loan."
If you leave any university today with a student loan over $20,000 what have you done to yourself?
Remember you cannot use bankruptcy to get out of this loan.
Will you have a good chance of getting a good job soon that will enable you to pay this off? Remember that if you do, the clock starts to tick and you have to service the loan. So the moment you start work, you will be poor as the loan payments come before everything.
On PEI what are the chances of getting a well paying job on graduation? I taught for 5 years and taught many of the best students - I cannot think of one that has such a job and that is many years ago. Most are now approaching 30!
Where are the jobs that will pay a graduate - who has in reality NO skills - the kind of money that will make loan service easy? When you took the loan did you ever think about this or did you accept that with your BA a good well paying job would be easy to get? Do you know what youth unemployment is today? Do you have any idea of what you intent to do?
With such a loan how will you really afford to buy a car or a home? What if you owe $35,000! What will that do to your life?
In reality, your BA means very little today. That is why so many then go on to grad school and dig an even deeper hole of debt and still emerge with no skills and no direction.
Your BA is not a ticket to a job. Your loan is an anchor not a sail.
If you want work and want to earn a decent living - then get some real skills and get them from a master who also has a network.
If you wish to broaden your mind keep your costs down at school. Above all live at home. Your living costs will equal your direct costs. Look at an online alternative too.
Be careful out there