If you get out of college $40K in the hole, that is like adding a car payment to your expenses. How can one justify...
How can one justify taking on any more than that? Or even that much when, depending on what you study, you may make considerably less every year of your entire life than someone who welds ships together or drives a truck, never had any such debt, and starts working five years before you do?
10 Answers to "If you get out of college $40K in the hole, that is like adding a car payment to your expenses. How can one justify..."
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It may look bad on paper, but as long as the payments aren't too big compared to the salary, that debt isn't going to seriously reduce the debtor's quality of life. And the important thing is, I'd go insane welding ships or driving trucks my whole life. What I really like to do - science - requires a degree. You mustn't omit enjoyment from the cost-benefit analysis.
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Very true. One's natural talents and likes must be considered. I question whether most kids or parents do, though, when they rush the kids off to school.
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An educated workforce help the GDP, there's a bazillion studies to reinforce this. But when nobody can afford an education, the incentive to get one is kind of low. It's like tuition should be affordable or something.
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And yet, at least in the States, it has increased at rates that make medicine look like a bargain. Third party payments and lemming-like demand have made it possible for schools to pawn off crazy expenses or things that are the proper domain of think tanks onto taxpayers, alumni, and students/parents.
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Because most people who start college are 18 and don't know any better. Honestly, taking out school loans was the biggest mistake of my life, and if I could rewind my life and change it, I would.
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I hear that more often than I care to. Keep trucking, child. Get that stuff paid off.
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Went to public University and boy am I glad I did :) My friend went to a private Uni and is up to her knees in student loan debt..
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I drive truck and love it. I could not do a desk job like my youngest brother does. But he went too university and is making insane money. His company just gave him $4 raise out of the blue
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I like being on my feet all day, hated desk work. University was wasted on me, and I went back when it miraculously cheaper. I have come to doubt that it will make sense for my kids, given the range of occupations they seem likely to choose from.
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Should someone who finishes college necessarily make as much or more than someone who welds ships together or who drives a truck? Also, should a student who has just graduated from college be considering the purchase of a $40K automobile?
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You are at the heart of the matter. The answer appears to be no, as long as your economy has a free floating labor market, no government wage fixing. It is becoming apparent that many college graduates will never catch up with the welders, etc, even without the debt factored in. I trust society's valuation of labor more than any university administor's.
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And cars, I was thinking $22K for five years at one rate versus $40K for fifteen or twenty at a lower rate.
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A $900 iPhone 5 seems logical :)
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Told one young child to go get a job of his own if that's what he wants. Doesn't seem to want one so badly anymore.
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Lol
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vote
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As the average college student will make more than a million more more then a HS graduate only, I would say it is still a good investment.
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Average means that millions of people are below average. Is it good for them? I'm not trying to be inflammatory, I'm just questioning if it really makes sense at all to take on much debt.
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Best Answer (Chosen By Asker):
Posted by aesgard 1 Nov 12th, 2012 at 2:06PM
you don't have to go to college to learn nor do you need to go into debt to learn.... sadly that's not a concept taught in college....
good point and very valid in today's economic climate.
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Reply by TheSquirrel Nov 12th, 2012 at 2:10PM
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Reply by aesgard Nov 12th, 2012 at 2:16PM
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