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Skimming Nina Smith's archives at Sitting Pretty, I came across Personal Finance Advice (PFA) on her blogroll. At PFA I read a "confession". The confessor said that s/he had spent $80,000 on a college degree s/he would never use. We've heard such laments before. It seems common to run across people who went to college in a certain field that has nothing to do with the job they presently hold. Still, I hear a chorus of others who couldn't obtain a degree whispering, "At least they went." For some, college is on a shelf they'll never reach because they can't find enough money to attend.
I also read Nina Smith's post earlier this summer here at BlogHer entitled "Risking your life to get out of debt." She wrote about soldier and blogger Nick Sloan, a young man who volunteered for the military because he needed money for college.
That military road to college is riskier than some think. I know of a former Marine who joined the military for the same reason only to discover that a mix-up in paperwork made him ineligible for tuition help. I assure you that I'm not saying our military is scamming recruits about college, but I do think it's wise to read thoroughly and understand fully all contracts before you sign your name. Perhaps my former Marine friend neglected to read everything before he signed up.
Joining the military may seem to some a drastic measure to pay for college, but it's not as drastic as robbing a bank for your tuition. I heard about an MSNBC bank-robbing story from Shawna at One Girl's Quest:
CINCINNATI - A college student accused of robbing a bank had been worried for months about his mounting tuition bills, his mother said. "He just really was struggling, working two jobs here, you know, temp jobs, two jobs and trying to get the money," said Franki Butler, whose son Andrew was charged this week with robbery. Andrew Butler, 19, and another man were arrested Tuesday after a Valley Central Savings Bank in suburban Reading was robbed, police said. Police recovered an undisclosed amount of cash. (Source MSNBC)
In her post Shawna says the bank robbery is "proof that college tuition is too high."
He was caught, of course, and it's quite sad that he did this. Clearly he felt like he was under a mountain of debt that he was never going to get out from under, regardless of his constant hard work. I know, because I feel like that sometimes with my debt, and I suspect I'm not the only one. (Shawna)
I'm much older than Shawna and so possibly more suspicious; therefore, I doubt the sincerity of the bank robber's reason. Nevertheless, I sympathize with the young man's worries about tuition costs.
It seems you can toss a penny and hit someone lamenting college costs. As a mother whose son is two years from attending college, I've pulled out tissue while thinking of college tuition, but I'm not crying yet despite recovering from the financial woes of divorce. I admit I don't have the money to pay even half my son's tuition. So, it's not too early for me to hunt down financial aid sources, but today I learned that both parents and students must be careful when seeking information on tuition assistance.
A U.S. News article says that many parents and students are the victims of college tuition scams:
Students and parents figuring out how to pay for college should add one more item to their list of things to worry about—scams. While it's hard to estimate the number of victims, because many people never report fraud, college loan scams appear to be on the rise as college becomes more expensive. The Better Business Bureau received 782 complaints against scholarship, loan, and grant services companies in 2006, up 61 percent from 2005. Companies—some of which frequently change their names and locations—send offers of seminars, free grant money, and other enticements in exchange for fees. Once money changes hands, they quickly disappear. (U.S. News)
Imagine being relieved to hear that tons of money are available for your child's tuition only to discover the source of the information has taken the fees you paid and vanished.
No matter how glossy the mailer when these kinds of
