Job Discussion Forums

johnslat · Posted: Sat Mar 22, 2014 6:49 pm Post subject:

Dear Sentinel33

Well, all debt (including credit card debt) is higher:

"Class of 2013 grads average $35,200 in total debt "

http://money.cnn.com/2013/05/17/pf/college/student-debt/

"As of Quarter 1 in 2012, the average student loan balance for all age groups is $24,301. About one-quarter of borrowers owe more than $28,000; 10% of borrowers owe more than $54,000; 3% owe more than $100,000; and less than 1%, or 167,000 people, owe more than $200,000."

http://www.asa.org/policy/resources/stats/

10% is about 2 million students - and that's only the student loans, no credit card or other debt figured in,

Regards,
John

veiledsentiments · Joined: 20 Feb 2003 Posts: 17644 Location: USA

And that is $35200 for one degree...

Our system sucks... it requires planning skills that not everyone has at 18 years of age.

VS

ChloeJoe · Joined: 25 Feb 2014 Posts: 12 Location: Virginia, USA

Lol, I'm starting to get a better picture concerning what a certain poster is like. And actually, I do take the comments to be 'leaning on' and I'm still stinging a little.

I really don't think I need to in this forum, but just a bit about my 'planning.' I chose my BA based on what I wanted to do post-graduation. It was middle-of-the-road cost wise but the absolute best program for what I was interested in. I'm a first-generation college grad with little financial help from the parents. The community college thing is laughable, as it's just not the same thing. BA tuition increased noticeably every year. I never owned a car until I was twenty-one (a '95 Honda). I've still never owned an iPhone. I worked multiple jobs all throughout by riding my bike and taking the bus. I chose the cheapest MA program I could that still promised to be what I needed. BA- 4 years; MA- 2 years. Vast majority of debt from BA. The MBA choice came from the thought of getting it done while I'm young and because costs go up each year. Finally, I have an IRA that I contribute to as I can.

Yes, it's a lot of debt (and golly do I regret throwing that number to the jaws of the interwebs), but it has helped get me to where I am right now, and I don't regret a single dollar of it.

My interest in the ME is not a panic move- I've always been interested in going there. If I seemed flippant about achieving the money, it was in my continual effort to be be pleasant. I'm applying to lots of other places as well. I know this will be a long slog but I'm up for it, detractors be damned.

I've already said too much; so let me end with this- yes, the vast majority of my debt is from my BA. So, if it is your intention, Certain Poster, to skewer a girl based on her choice of college as an 18-year-old (a choice she still doesn't regret), then you're a right fine chappy, you are. Lol.

MuscatGary · Posted: Sun Mar 23, 2014 5:15 am Post subject:

Any country (including my own - the UK) which saddles it's young people with such debts isn't worth living in. Don't pay, just leave and never go back.

johnslat · Posted: Sun Mar 23, 2014 2:35 pm Post subject:

Dear MuscatGary,

"Any country (including my own - the UK) which saddles it's young people with such debts isn't worth living in. Don't pay, just leave and never go back."

Never's a long time. Since you're giving that advice, can I assume that's what you have done? Well, if so, I certainly hope it works out for you. But your circumstances are likely to be different, perhaps very different, from the OP's or anyone else's.

What has worked (so far) for you - kind of burning your bridges in front of you - just might not work for everyone else.

Regards,
John

scot47 · Joined: 10 Jan 2003 Posts: 15343

"Never" ? I decided in my 20s that I would never live in my native land again. I retired and where am I ? In Bonnie Scotland !

Solar Strength · Joined: 12 Jul 2005 Posts: 557 Location: Bangkok, Thailand

oxi · Joined: 16 Apr 2007 Posts: 347 Location: elsewhere

scot47 · Joined: 10 Jan 2003 Posts: 15343

Health Care. The "Socialised Medicine" that is anathema to free-born Murkans !

ttxor1 · Joined: 04 Jan 2014 Posts: 119

veiledsentiments · Joined: 20 Feb 2003 Posts: 17644 Location: USA

nomad soul · Joined: 31 Jan 2010 Posts: 11454 Location: The real world

dustdevil · Joined: 27 Mar 2014 Posts: 38 Location: Retired in U.S.

DB65 · Joined: 27 Mar 2014 Posts: 6

ChloeJoe,

Disregard the cheap flak---with $90K in debt, you are wise to want to come work in Saudi. You can make the same or better salary in the more desirable Gulf countries like UAE and Qatar, but your lack of post-MA experience would put you at a disadvantage, as well as the simple fact that those are the countries that everyone (esp. female teachers) would like to work in, so you'd face much stiffer competition.

With an entry-level position at a place like PNU, you'd probably be making around $3-4K/month. Since you are frugal, you can expect to save as much as 90% of that, tax free. That means you could be debt free within 3 years, as opposed to paying interest on those loans for 20 years like other graduates who are too lazy or scared to consider working in the Middle East.

Good luck!

PS. I should add that as a single woman in Saudi, with a little bit of networking you will have all sorts of social opportunities in the expat community simply due to the dearth of western women there, which would make your time there much more enjoyable than you might assume.