Go to college? Get a good job? Live in basement forever?

[DavidofMN]

You have to go to college to get a good job! Everyone's doing it!

Student Loan Slavery: Paying More in Loans Than I Make Each Month

Oh wait. That didn't work out to well. We at least she learned some personal responsibility....

I wish I'd never gone to college; instead of enhancing my life, it has made me lifeless. All thanks to student loans.

Oh wait. That's right... those silly student loans took themselves out and signed on the dotted line. They forced her to take those loans.

 

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[AndrewNC]

So what you're saying is that I should learn how to code instead of going to college?














</trolling>

 

[DavidofMN]

That or go to trade school and become electrician, welder, plumber, etc.

 

[Pete799p]

The whole college thing now a days is such a joke and the really sad part is that people want to go even more now then ever. I think it was the Colbert report or one of those shows where they had a scared straight bit direct at high school student but instead of jail it was going to college. They sent a 20 something kid in to tell the students about how terrible college has been for his life, over all really funny bit.

What kids should do is think about what they want to do and then find a job or internship, paid or unpaid working in that field. If you want to build houses find a home builder in the area, tell him/her that you want to become a home builder someday and would like to work for him, doing anything, so you can learn the business. This can even work in main stream fields as well, I worked for an architect when I was 18 and realized that I really didn't like it as much as I thought I would, saved me a lot of cash not having to transfer schools etc. When you are 18 and really motivated it really sets you apart from the crowd and I'm sure you can find somebody to help you out.

 

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[gazillionaire]

Student loans touched me where I go pee pee

Who borrows "more than $160,000" for a BA in Sociology? Hard to see her as a victim here.

 

[DavidofMN]

Question: who in their right mind loans $30,000+ to an unemployed high school kid with no job?

Answer: Someone who KNOWS that the government (or the government itself) is going to make the taxpayers pay if the loan isn't paid back!

It's win-win for the lender and lose-lose for the borrower.

 

[qewrtyass]

if you cant afford college education, then you better dont.
being in debt will chained you. and it feels not good.
and most education prepared us to be corporate zombies. so, its not cool.
i quote bryan tracy: knowing what i know now, will i go to college again if i had to do it over? NO

 

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[Err0rX]

The thing about college is that it's pushed heavily on high school students. The loans are integrated into the college process, as a part of your financial aid package, and it's very easy to lose track of how much you have out between the (for me it's 4) different loan companies.

The whole go to high school, go to college, get a good paying job and do something with your life was something that was drilled into my head all my life. Both my parents were high school dropouts, so it was even more important that I get a full education. Being 17 when I finished high school, I had a lot of faith in what they told me and followed through. I attended college for 4 years, and whatever I couldn't afford and wasn't covered by other financial aid, I took loans for because college graduates make x times what high school grads make, so it was all going to pay itself back.

Yes, ultimately it was me who signed the loans, and my 50k balance is now my responsibility. I don't claim to be a victim, and I will work through the debt eventually. For me, it was a matter of listening to those who I trusted because they were the ones with life experience. I learned a lot of new things in college, and I also got some real life lessons about taking out loans and the consequences of financing out your future.

While I don't expect others to feel bad for me, I can't help but feel there are some predatory practices going on. Like David said, who loans $30k+ to an unemployed high school student?

 

[socaldude]

Question: who in their right mind loans $30,000+ to an unemployed high school kid with no job?

Answer: Someone who KNOWS that the government (or the government itself) is going to make the taxpayers pay if the loan isn't paid back!

It's win-win for the lender and lose-lose for the borrower.

Not to get political but seriously this is not right. This is not free markets.

The same with the mortgage debacle. If the student loan lending market was truly "free" then no one would give an 18 year with no credit history and no job a 100k loan. And no one would give a 500k mortgage to some guy who makes 35k a year. This is risk management 101. But once you have this "hand" aka government come out of nowhere and messes shit up you get this kind of crap going on.

Private colleges know that students are defaulting but everywhere you go there are advertisements for a "better future" because they know they will get their money no matter what.

IMO the solutions to this student loan crisis is to privatize it. Allow students to "test" for a degree. This will open up the way for education start ups competing with each other and hence lowering the price of education even making it free. You log on to "learnfinance.com" pay a small subscription or even nothing, learn, then test for your degree on an accredited examination the same way students pay a small fee to take the SAT or the same way lawyers take the BAR exam to get their state license to practice law.

 

[Roberteking78]

While it is logical and fair to blame the person for taking the loan I think it is also logical and fair to point out that student loans are ridiculous.

 

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[Kak]

Contrary to very popular belief, you can learn things outside of a classroom. Actually anything you can learn inside of a classroom, you can learn outside. There are many people without a business degree that know way more than I do. A positive... my business degree buys me some extra credibility right now when my age is a factor. Other than that... pretty much a waste of time.

 

[Pete799p]

‘The Daily Show’ Tackles Higher Ed Bubble, Warns Kids Not To Attend College (VIDEO)

 

[theag]

So what should I major in to get rich?

 

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[GuestUser8117]

So what should I major in to get rich?

Self-employment. Lol.

 

[gazillionaire]

The lenders are drug pushers, but anyone who borrows $160k+ for college is the addict.

 

[TurboTT]

College was useless for me and did nothing but place me in debt straight outta school. Now, between my wife and I we owe almost $100,000 in college loans and neither of us are doing anything in the field we studied.

When I got out of school I couldnt find a job. When I did get an interview I got the same lame excuse I didnt have the experience. Almost 10 years later I own my own business and wish I never went to college, because I could have had a nice junk of change in my pocket per month besides paying these loans back.

 

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[campbellronald7]

if you cant afford college education, then you better dont.
being in debt will chained you. and it feels not good.
and most education prepared us to be corporate zombies. so, its not cool.
i quote bryan tracy: knowing what i know now, will i go to college again if i had to do it over? NO

Seriously taking loan and being in debt is like going to hell for me.

 

[Pixpax]

You can say "She signed on the line" and criticise her for supposedly not taking responsibility, but she was presumably around 17 at the time. Also parental, societal and peer pressure and perceived wisdom dictates that you need a college degree to do well.

So although she signed the papers, she was young, was sold a lie (somewhat) and peer pressure (everyone else is doing it) and well-meaning parents are the reason she probably did it.

Also this is isn't the only college scenario. Some people get a fantastic degree, pay a lot for it, but end up earning a lot more than they otherwise would have as they have specialist knowledge and experience etc.

For the most part though, I agree that college (particularly in the US and increasing the UK) is an oversold right of passage that often isn't worth what they are trying to charge.

 

[Futscher]

Hi all,

I think that college is good if you are really committed. Someone told that having a loan to be a biologist isn't worth it… if Hiiit is that person’s dream why not?

Although college is a bit overrated it is still a great way if you want to be hired, because it shows to your potential employers that you can commit and have the learning ability. Of course being on college is not for everyone, Steve Jobs, Mark Zuckeberg or Bill Gates dropped college to pursue their dreams because they wanted to do what they loved.

The point, in my opinion, is to make the choices that makes you feel comfortable. If you want to go to college to be a certified accountant, a biologist or an architect then getting a loan is perfectly acceptable.

If you want to be an entrepreneur then forget college and start doing what you want right away, but regard that sometimes during college the lessons you learn are cheaper than the ones in real life.

Regards,
Futscher

 

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[MJ DeMarco]

Hi all,

I think that college is good if you are really committed. Someone told that having a loan to be a biologist isn't worth it… if Hiiit is that person’s dream why not?

Although college is a bit overrated it is still a great way if you want to be hired, because it shows to your potential employers that you can commit and have the learning ability. Of course being on college is not for everyone, Steve Jobs, Mark Zuckeberg or Bill Gates dropped college to pursue their dreams because they wanted to do what they loved.

The point, in my opinion, is to make the choices that makes you feel comfortable. If you want to go to college to be a certified accountant, a biologist or an architect then getting a loan is perfectly acceptable.

If you want to be an entrepreneur then forget college and start doing what you want right away, but regard that sometimes during college the lessons you learn are cheaper than the ones in real life.

Regards,
Futscher

Please STOP with the link signature. These are not allowed unless you are an INSIDERS or with more than 100 posts.

 

[million$$$smile]

"It is a thousand times better to have common sense without education than to have education without common sense."
Robert G. Ingersoll

Serious guys, over and above education or no education is one SIMPLE PRECEPT:

MOTIVATION

If you are not motivated, all the schooling in the world will not help,

If you are motivated, you can create a million dollar company with no formal education.

Figure it out BEFORE you spend the cash, because either way, it will cost you WITHOUT the motivation to succeed in whatever path you decide to go.

A learned man can either gain an education in a formal university or the university online...

Or as my son in law does...
Cutting hair as a barber and buying a million dollars worth of property in four years just from contacts made, wisdom imparted, and... listening,
then pulling the trigger...

Motivation...

One of the keys...

Randall

 

[Lights]

A bachelor degree, no matter what it is for, is not worth 160 k... unless it comes with a Harvard/Yale name on it.... and that's a maybe. A college degree is just an investment.

I feel slightly sorry for her, but at the same time, it's just common sense. She is an exception more than the rule though for a college graduate. I don't think college is a waste of time for someone who has a specific goal in mind, but it's a waste of time for most people I believe.

 

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[N.Entrepreneur]

I walked away with about 50k in loans for a Bachelors and Masters degree in accounting.

My salary is enough to make me not drown in loans, although I plan on switching to the fastlane.

I have a couple of friends in 80-100k in debt with dumb majors and no sign of slowlane job offers anywhere.

 

[TJones21]

College makes plenty of sense if you plan on becoming a CPA, as it is a requirement. Trying to figure out how to move into the fastlane currently but I am in a great place relative to a lot of people and it is because I went to college.

 

[Jon Snow]

Yes. College is a joke.
I've been there, and it's useless...

 

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[jazb]

Seriously taking loan and being in debt is like going to hell for me.

How do you intend on going into business then ?

 

[FeaRxUnLeAsHeD]

This reminds me of an email I got yesterday. A guy keeps reaching out to my to work with their company to use their client management software. I've been using a competitor's software for a few months and had signed for a year.

I politely emailed back and stated "I'm already using X software and signed for a year, thank you"

He replies back and says "Oh i'm sorry to hear that, I know the feeling of getting locked into a contract blablabla... we offer monthly and don't lock you in, potentially when the contract expires we can do business"

I'm thinking to myself "No you fool, I chose to pay in full for a year for a discount because I liked their software, I'm not a victim, you freaking turd"

 

[Trivium iz rC]

Business isn't for everyone, everyone here knows that.

I also have no problem with college if you don't want to own a business & rather have a career. The problem that I have is government guaranteeing loans & students majoring in stupid degree's (Liberal Arts, HR, Women's Studies, Ancient Greek Mythology, Social Work, Underwater Basket Weaving <---MJ's Favorite). "Do What You Love & The Money Will Follow".

Don't do what you love and find some career/job with a lot of demand.

Plumber,Electrician, Industrial Heating & Cooling, Aviation Technician, Auto Technician, Heavy Duty Diesel Technician, Computer Science, Computer Engineering, IT/Networking ect.

Then complaining about how there not making enough money & there loan payments are too much. Doe's no one check what "average" salary for a job is before they spend 4 Years & 5-6 Figures going to school for it? How about the growth in that specific career for the next 5+ years? Worst of all currently student loans cannot be removed in bankruptcy so all my fellow millennials will be slaves to these loans until they put there ego aside, live on beans & rice and tackle the debt as quick as they can. But sadly enough most will just complain & defer the loans & get eaten alive by deferred compounding interest until they can find there magical dream job.

But most of us here know whats going to happen with the 1 Trillion + in student loans. Some legislation will get passed and everyone with student loan debt thinks there debt will go to zero. But it really won't because instead of just paying your own 50K in student loan debt and being clear and free, you will now just add all the student loan debt to the federal debt & have a bigger portion of government debt & higher taxes on earned income.

 

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[Under-Dog]

This tends to be a touchy subject with certain people, personally I believe it's a waste of time and money. I know 5 people with bachelors and they can't a job in their field each of them is over $45k in debt and they are working McDonalds type part time jobs just to try getting by you can learn a lot in the real world with real experience not only that but you can make connections

 

[TonyStark]

College doesn't guarantee success, neither does a job. The only guarantee is yourself, and your work ethic which is something you cannot teach in schools.