Tuesday, May 8, 2007

Student Loans - Beware

We were asked to read a New York Times article called "Top Chef" Dreams, which was basically about how culanry school students pay exhorbitant amounts of money - up to $40,000 for a two year school. Only a fraction on that cost - up to $4000 - is covered by federal money. The rest has to be found through loans. When entering the school, students are told that they will have around a $200 monthly, but end up with a $700 monthly instead.

The reason why these students are falling into so much dept is not because of a lack of jobs in the market, but because these jobs don't pay very well. The average income for a culunary student is just over $9 an hour. At that rate, it would take a student thier entire life to pay off a nonsubsidesed loan.

In order to go to a private school like RIT, I would have to pay $35,000 for all 4 years together, which is insane. And RIT pretty much gaurantees a good paying job. Why would someone pay $45,00 for a 2 year school, that does not allow for good paying jobs when any CUNY or SUNY with an art program probablly also has a culunary program for a fraction of the cost.

No comments: