Topic Author
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Money At Graduation

Wed Jun 16, 2004 3:19 pm

This is a really strange question....but I've been wondering, what in general do typical American college students have in savings when they graduate college? I've searched the internet and surprisingly enough haven't been able to find a survey or anything.

Anyone have any insight?
Posts: 6064
Joined: Thu May 06, 2004 3:13 am

RE: Money At Graduation

Thu Jun 17, 2004 1:26 am

Every single one of them I know, myself included has $0 or close to it in savings on graduation. College costs a fuckload.
Things were better when it was two guys in a dorm room.
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RE: Money At Graduation

Thu Jun 17, 2004 1:28 am

I'm sure that all these teenage Mega-Ultra-Titanium-First Class Flyers on these boards will have tons of cash in their savings when its time to head off to college.
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Joined: Thu Jun 20, 2002 9:59 am

RE: Money At Graduation

Thu Jun 17, 2004 1:31 am

I graduate next week with just over $7000 in savings, mostly from working the last year and a half, and will be mostly out of debt. I've been pretty lucky with that.
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RE: Money At Graduation

Thu Jun 17, 2004 1:51 am

I graduated with about $5,000 and zero debt. All in all, I figured I did pretty well.
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RE: Money At Graduation

Thu Jun 17, 2004 3:22 am

i graduated with 500$ but im in the hole 2000 for just my excessive credit based purchases

last month i took out a loan for what will be the first of several tens of thousands of dollars as i now try and get thru graduate school and law school
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Joined: Wed Feb 25, 2004 8:53 am

RE: Money At Graduation

Sun Jun 20, 2004 2:40 am

Unless their parents are paying their way, chances are most college students are going to be in the hole for a couple grand. I've racked up about $15k and I'm about half way through. I should be at about $20k when I graduate. Then on to law/business school.  Angry

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Joined: Sun May 16, 2004 10:20 am

RE: Money At Graduation

Sun Jun 20, 2004 3:54 pm

I thought college in the states required stupid money to go to, like over $20k a term?

I've just finished my second year at Uni in England and have £8k of debt, and will have £12k when I finish next year, thanks to the government giving loans instead of grants  Angry

nwa man
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RE: Money At Graduation

Sun Jun 20, 2004 4:30 pm

I thought college in the states required stupid money to go to, like over $20k a term?

Ehh - depends on what type of college you attend. Going to Harvard with no financial aid will run you about $35K a year, but attending your local state school, including room and board, can often cost under $10k annually. Of course, there's all sorts of schools between Harvard and Western Wyoming Tech. My college is about $20k per year. Am I getting ripped off - well, I guess I'll find out after I graduate. With that in mind - choose wisely.

To answer the original question, including my savings, cash in my wallet, change mug, pennies underneath couch cushions, and online poker accounts, I've got $1,500 as an incoming college junior. After scholarships, grants, and money from the family, I'll be in debt about $10K or so after I'm done. Money well spent (hopefully).


Create your own luck.
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Joined: Tue Jul 10, 2001 12:48 pm

RE: Money At Graduation

Wed Jun 23, 2004 2:42 pm

Where I go to school...it costs nearly $40k per year. But since I am poor (read: average middle class), and everyone else is FILTHY rich, i get nearly everything taken care of buy the university with scholarships. So you don't see me bitching at those rich people who fly first class all the time on daddy's penny...because these same people are fully funding my college education  Smile

However, unlike most others, I realize what I special opportunity I have there and will NEVER take it for granted

By the way...$2000 in my savings acct (and I'm only a sophomore working 2 jobs with no financial help from the parents)

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Joined: Sat Feb 07, 2004 1:36 am

RE: Money At Graduation

Fri Jun 25, 2004 12:15 am

well i know many many friends of mine in college upon graduation had anywhere from $5k to $20k in savings, before any loans. but the large amount was primarily because of the signing bonuses a majority of them got when they accepted a job offer. of course when you move to the city and put down your first, last, and security deposit plus a brokers fee (if you are a moron) and your signing bonus is essentially gone.

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