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The crisis in educational financing

Share your views on the state of the Animation Industry.

The crisis in educational financing

Postby Charles » Mon Aug 09, 2010 11:04 pm

Yesterday I spent quality time with a friend I hadn't seen in a while. As we were catching up on things, we got started talking about the economy and naturally this lead to some discussion about how we're personally dealing with it.

He mentioned his students loans and how they were affecting his life. One loan, from the government, was manageable at around $12,000. The others, from several private sources, were over $100,000. His monthly payments are around $1200 a month and $800 of that going towards interest. Unlike a home loan, this debt cannot be absolved through bankruptcy or from walking away from the house and letting the bank take it over. this is something that he's committed to for the rest of his life, rain or shine.

To top it off, he's working at a job that pays $3 an hour less than what he was doing before he went to school.

Check out this article about how big business in getting into education and how its affecting things at the colleges they take over.

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Subprime for students: A default deluge

For-profit colleges are the fastest-growing sector of education, but will the federal aid that pours into these schools have results similar to the mortgage meltdown?

http://articles.moneycentral.msn.com/Co ... eluge.aspx

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And here's another one that suggests students not go to college at all because of the heavy financial burden involved.

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Is it worth it to go to college?
Daunting debt makes some wary of higher education

http://www.msnbc.msn.com/id/38561562/ns ... ?gt1=43001

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As an educator and owner of my own school, I feel very strongly that people interested in pursuing a career in animation shouldn't have to pay for it for the rest of their lives. I believe in alternatives to the high priced institutions that require emerging artists to go into debt that is so immense they may never be able to pay it off.

To be sure, the expenses involved in operating a school are daunting, but when the school is paying more for their marketing than they are for the educational program they offer, something's wrong. The first link I posted above deals with this kind of thing.

Is it necessary to go as much as $100,000 or more in debt to get into animation? Is it worth it?

Your input on this topic is welcome.
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Re: The crisis in educational financing

Postby Jose Saenz » Tue Aug 10, 2010 6:07 am

Is it worth it? Not anymore...not with the resources that are available to you online. Even if you did want some kind of certificate or acknowledgment there are alternatives. Animation Mentor is a fraction of the price with 10 times the quality of education you'll find at most schools that are just after your money.

I don't regret going to school for one second. At the time, my options were limited. But now? There's just no way I'm going to pay that much for a continuing education. As an example, I wanted to learn to be a better photographer, so I went to an orientation at the local private art school. After listening to what the costs would be, I decided that it just wasn't worth it. ALL the information they're going to teach me is online, DVDs, books, forums, etc.

The future of education is online. You just have to look at the success of such schools as Animation Mentor and Lynda.com for proof.

Having said that, there is Cal Arts...with their track record of alumni being picked up by major studios, it makes it an attractive school to go to still. Going to CA gives you a huge advantage in getting into your dream job/studio. You'll be broke for a very long time, but yeah chances are you'll have a leg up on a lot of other just as qualified animation job seekers.

But with a little patience and a lot of hard work, you can get to the same destination without the weight of a $100,000 tuition on your shoulders.
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Re: The crisis in educational financing

Postby Greg B » Tue Aug 10, 2010 9:07 am

When I was in college many Moons ago I was paying one of the highest tuitions for an ivy league school. I was also working a full time job as an illustrator for the largest news service. I was lucky. I did see how many people were burdened and would be burdened with heavy college loans for a good part of their lives.

What some people were able to do was start their own businesses, take out personal loans and pay off their college debts. That gave them breathing room and put the debt in a different category. Investing any profits in paying off the debt restructure and in educating themselves for higher salary achievements etc.

A guy getting out of college and his girl likewise with $100k in debt each. Now they get married, buy a house. They're in the hole for upwards of $1 million. See the scam?

Jose is right about education being online. The sheer mass of tutorials and free stuff is overwhelming. You can get that education but can you get that certification that you do have it? That's what college is all about, certifying that you've passed the criteria of specific fields of study. Doesn't mean you will be an Einstein.

Business is still a game of what you know and whom you know.

I've said it before, artists need to know business and marketing skills so that they can establish a procedure of building wealth to safeguard themselves. Not wait for some studio sugar daddy. Do some marketing online, generate some healthy passive income and reinvest in more skills and services.
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Re: The crisis in educational financing

Postby SNAKEBITE » Tue Aug 10, 2010 11:27 am

I wonder if Einstein got into debt to be educated?

The problem with educational institutions is they are owned by big banks. The same institutions that put us into debt in other ways is the same infrastructure that educates us. No wonder we all chase the rubber dog sht, they have been in our heads since child hood. They programmed us to think in order to be educated we must be in debt, and then in order to function in society you must buy a house and car and have credit cards...all to be in debt. Its slavery IMHO.

But like religion, education is something that has been used to keep us divided, desperate and willing to do anything to get ours. When actually, like religion, education should be something to keep us united, empowered and willing to do anything to help each other.
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Re: The crisis in educational financing

Postby EAllen » Fri Aug 20, 2010 3:06 pm

I'm reading Bite's post some ten days after he wrote it, and it nails much of how I feel about higher education; however, not all colleges are run by bad guys looking to use naive youngsters to get rich.

The real goal for young people today would be to focus on all the free information, previously under lock-and-key (as it was for me when I was in college) and use the parts that directly apply to whatever their objectives are to gain the advantages and succeed in the game. The key word, however, is FOCUS since much of the good stuff is encased in boring, stultifying conjecture!
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Re: The crisis in educational financing

Postby Charles » Tue Mar 22, 2011 1:13 pm

Bumping this up.

It's getting worse and worse for higher education in America.

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State universities face deepening cuts

Growing budget problems mean even tenured professors could be at risk

By Kristina Dell
3/22/2011

Wisconsin government workers aren’t the only ones feeling the pinch because of budget cuts. Governors of cash-strapped states are now putting public colleges on the chopping block.

Forty-three states have cut higher education since the start of the recession in December 2007, according to the Center on Budget and Policy Priorities. And many states are now considering more drastic measures such as closing departments or entire campuses, curtailing student enrollment and laying off staff — even tenured professors.

Tuition hikes are inevitable, so students will be paying more for more crowded classrooms and fewer services.

Full article here.
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