College degree: Four wasted years and a huge debt.

You don’t want 4 years of college wasted, with accumulated a huge debt when you came out of college. You don’t want to end up working at coffee stores like Dunkin Donuts or Starbuck or restaurant with your engineering or finance degree. 4 years, $100,000 debt is a huge investment in your life.

The debt game starts early. Every year Universities raise tuition and the lending programs- both government and private, follow suit. After 4 years students enter the work force not as forces for economic development but as indentured servants.

Education should be in line with real incomes- same goes for the housing market. But if you let the lenders/educators raise prices you’ll get a debt bubble that will never end.

This is the biggest fallacy of modern higher education in the US–the confusion between a liberal arts education and training for a trade. The minute universities began giving degrees in business, communications, computer sciences and the like, the public began to be confused about what an education is about.

You don’t get a degree to get a job, you get it to learn to think. The latest graduates are finding that they thought they were getting trained for a job, but what they got instead were four wasted years, a huge debt, and a hole where critical thinking, creativity and culture should have been. It’s the kids who studied what they were really interested in and liked who will figure out ways to put their degrees to work for them.

“Too many students are busy studying the process of how it is done versus knowing why it is done that way or questioning why another method of approach might not be better.

Again, in my opinion, the school you got out of will not matter in a few years–because if you do quality work–you will be noticed–and no one will care where you got the degree from in your school days.
Yes, you may begin behind the fancy university graduates–but, over time, if you really have it and use it, you will surpass most, if not all, of them. I used that as a motivator—so, they went to Fancy U.–I went to Small U NeverHeard Of it–a state school of all things. I believe that I am just as smart as they are–and I believe I can outwork them. Develop that attitude and then put the effort in to make it happen. You do not have to step on people, you just have to show you can do superior work–let your work speak for itself.”

Here is my take on the educational system.

There are really 2 groups of graduates out there. The first group is those fortunate coming from a wealthy background. No college loans, no car loans (their first car was bought by Mom and Dad), after graduation lots of opportunities based on family connections. These people almost always end up in high paid positions at the top.

The other group is filled with regular people with lots of debt. Student loan debt, car payments, few opportunities without connections and maybe with a bit of luck you can make it, or not.

It is a class system.

Most of the people I know belong to the second group. They are struggling. Working hard year after year to accomplish what? I know a lady in her late 30s, she still paying her college loans; with a Master’s Degree she has never held a job making more than 40K.

Don’t believe the statistics indicating people with higher education make so much money. Education helps but only if you are from the right background and have the connections to move ahead.

A story posted from elsewhere:

“A very good friend of mine has spent somewhere in the ball park’s of $150,000 in college education. He has a masters degree and 2 bachelors degrees. He excels in computer science and engenering. Before college he took i cant tell you how many vocational coarses on multiple diffrent subjects and interest. Horticulture,physology,mechanics, you name it. I have never met a man or person in general that is so versital in my life as tom. Do you know where tom is now and what hes doing. After all his training and years worth of education hes working for the home depot for $10.21 a hour.

I have rented the back room out to tom as of recently and its all i can do to keep him motivated about anything. As much as i am for increasing ones education. At east for the moment, i cant see ever putting money into college, unless i have them money on hand. College is a good thing but atm college is as much oif a gamble as the stock market. We have soldiers coming back from iraq just to come home to be unemployed. Their employers have since filed for bankruptcy.

I went to high school. Dropped out in 10th grade and got my GED. Worked in a cabnit shop for 22 years. I lived with mom and dad till i was 25. It wasnt fun but i lived there till i was in my mid 20’s. But i saved. And saved. IM 39 now i just bought a 5 acer lot with a 3600 sq ft manufactured home, all bought and paid for. I make bout 50k a year am self employed and am worth mabey 400k atm.

In a nut shell. You do not need college to guarantee your future. The key is to start early in life. Lord how many children leave the house at 18 and want to take on the world. With no money. NO job. No car. The key to success at least to start with is starting out young. Most people wait till their 40’s to save for retirement. And college theses days is a gamble at best. I hope for the next generation of baby boomers that they heed the warning. START AT A YOUNG AGE.”

Related Posts:

• Here is the proof of what Bernanke though in 2007 ( 1 year before the meltdown)
• Housing is hosed. When the demand for 3.5% down payment loans is falling, this isn’t a good sign.
• Here is another thing about bank closures:
• Mortgage Modifications are a SCAM.
• Warning: I am long-winded.

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