Tuesday, November 19, 2013


Going to College

The big lure, the big dream is to go to college and get a degree.  That is supposed to guarantee you a far larger income for life, and better jobs and job environments. Colleges are happy to foster this dream, and so is the government.  Together, they have come up with student loans on the one hand, and massive tuitions on the other. 

Of all the students that begin college, fully half drop out after the first year, and go home, with a student loan debt of about $25,000 to $50,000, depending on the quality of the school and its tuition and other costs.  This is a family debt, and if the student is irresponsible, the debt becomes a burden on the parents.  Half of the remainder drop out the second year, and they are saddled with $50, 000 to $100,000 of student loan debt and no degree.  Young women looking for an acceptable mate and not a degree will have paid a steep price for their excursion into academia, whether they succeed or fail.

Those that stay the course for a full four years will leave with a piece of paper that says they graduated, and another piece of paper that says, you owe the lender $100,000 to $200,000.  If you don't have wealthy parents, this is your start in life, indebted for say 20 years at lot more than $5,000 or $10,000 a year payments depending on the interest charged. For many people this simply doesn't make sense, especially if their degree isn't one of the perennial favorites that companies will offer excellent beginning salaries, such as engineers and scientists.

Then, too, to demand really big incomes you must obtain an advanced degree, such as an MBA, a PhD, or an MD, which can cost you yet another $100,000 to $200,000!  Very few people stay these courses for a variety of reasons, among them: the cost, the lack of adequate grades, or marriage and its strains on finances.

How would you like to steam out of college with nearly $400,000 in debt?


Post a Comment

<< Home

This page is powered by Blogger. Isn't yours?