So I've recently read articles about that college grads make 89% more than a high school grad. As soon as a read it, it reminded me the old statement "college graduates make up 1 million dollars more over a life time than high school graduate". Me: "really?" But as I grew older until now, I realize that it is mathematically impossible . Why? Because no one who ever graduated college doesn't have student loans. Every college grad has a loan to payback. Now to pay back student loans takes about like 15 or 20 yrs included recurring interest rates upon the debt. So lets say you graduated college and got a Job that pays 50k based on a degree on civil engineer. During the time it takes to pay a the student debt, also you have good credit score and you buy a house, finance a car at 36 months bases and have other expenses. During the first 15 or 29 yrs it takes to pay a student loan, by the time you pay off you car loan and have half of your mortgage payed off, then you start making real money. From the day till your retirement you'll probably have like 300k saved up for retirement (assuming you have a raise on your annual salary) so where is that myth that a college grad will make 800k or 1 mill more than a HS grad when you have a huge debt to pay back? If you get a job...
Storyguy007 Storyguy007
22-25, M
1 Response Aug 23, 2014

you're totally wrong. one, not everyone needs to pay back loans. it's called having parents that pay it for you. and two, it's not saying when you start making real money.. you make real money every single time you get paid. just bc you have a mortgage, etc, doesn't mean you aren't making money. you're just paying for those things.

"It's called having parents that pay it for you." Sooty dude not everyone has those rich parents that do that. The vast majority are forced to get into a loan. Also if you have a debt from college lets say about 150k and you find a job that pays lets day 60k do basic math equations. As time passes you'll pay a house and or finance a car...do basic math and you'll see what I'm going at..

where I come from your debt would never be 150k, maybe 20k at max. the statistics you read aren't taking in consideration what you pay off. they are taking in consideration the money you actually make. say I, a college graduate, make 120k a year (that's pretty average in my country for the job I want) although I have to pay off all my loans, mortgages, debts, I'm still making 120k a year. the government is recording that I made 120k. just like a non graduate would make 60k, they still need to pay of debts, but yet, they STILL make 60k.