why don’t freshman credits transfer?
A nasty trend we’re seeing a lot more of: Universities front-load their financial aid for freshmen, so it makes them much cheaper than alternatives year 1. Year two that aid expires, no additional aid is granted. But you’re locked in, credits don’t transfer.
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Usually some will, rarely all will
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That wasn’t my experience... upper level courses usually don’t transfer but generals which is most of freshman and sophomore levels almost always do...
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Depends on university, definitely not true 100% of the time. Beyond that the switching cost of changing universities after one year is just huge.
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Sure... as long as they universities are accredited by the same bodies they should pretty much transfer across the board. My personal experience, which varies from others, was that switching costs aren’t that bad. I studied at 1 community college & two universities in undergrad
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Unfortunately that’s not the case. It’s case by case depending on the presumed rigor of each class. Americans waste $6B/yr on credits that won’t transfer:https://www.usnews.com/news/national-news/articles/2016-11-22/when-credits-dont-count-transfer-students-face-debt-more-classes …
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Probably not a freshman level course though right?
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Semi-related note: Do you think that by the time my 2 yo is 18—she’ll be able to earn a degree from Harvard from her bedroom?
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Thanks. I’ll keep that in mind
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So, are the parents not reading the fine print, or is there anything that states they offer financial aid the first year and then it's not applicable? I want to be prepared to look for this since my daughter will be starting her search next year
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It just says “this is the scholarship you get, it may be renewed depending on academics” and you basically need a 4.0 for it to be renewed
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Thanks. yep...bait and switch... first year of college is difficult to get a 4.0. Thank you for clarifying
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This sounds exactly like adjustable rate mortgages
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this guy gets it
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1. In all things, there’s nuances. One could purchase multiple homes w/ ARMs, I don’t think that incentive exists w student debt (ie multiple degrees)?
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2. Add in CDOs + other synthetic securities & you get the real estate bubble of the last cycle culminating in the 2008 mortgage crisis. Does anyone know if there r comparable instruments & systemic releveraging for student debt? ie r banks making same mistakes in a different way?
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that Google search should do a good job explaining most things on the topic, including "wait why are student loans the only loan that doesn't go away in bankruptcy" bonus see if you can graphically spot on the charts when that began, if you don't already know when it did
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1. Wow. I might jump like Alice (Disclamer: I traded mortgages & non-performing loans). This is fascinating. I didn’t know SLABS were a thing...this leads to so many questions...how do institutions underwrite a student?https://www.investopedia.com/articles/investing/081815/student-loan-assetbacked-securities-safe-or-subprime.asp …
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Most loans are straight up government backed/guaranteed, which tells you everything you need to know about level of underwriting
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