Page 1 of 4 123 ... LastLast
Results 1 to 15 of 60
Like Tree7Likes

Thread: STudent Loan- Major in Debt - SMART OR STUPID?

  1. #1
    Norman SWAGGERIFIC is offline
    Join Date
    Jan 2010
    Location
    NEW YORK
    Posts
    17,206
    Credits
    101,493,621

    STudent Loan- Major in Debt - SMART OR STUPID?

    GREATNESS IS ALL I KNOW

  2. #2
    Norman SWAGGERIFIC is offline
    Join Date
    Jan 2010
    Location
    NEW YORK
    Posts
    17,206
    Credits
    101,493,621
    this is hurtful, I dont know what I would do in this situation...maybe wanna commit suicide or something, when will people start boycotting expensive private colleges? so these prices could go down

    This hurts my heart!
    GREATNESS IS ALL I KNOW

  3. #3
    Registered User SKBai1991's Avatar SKBai1991 is offline
    Join Date
    Apr 2010
    Location
    New York
    Posts
    5,780
    Credits
    11,357,279
    Quote Originally Posted by SWAGGERIFIC View Post
    this is hurtful, I dont know what I would do in this situation...maybe wanna commit suicide or something, when will people start boycotting expensive private colleges? so these prices could go down

    This hurts my heart!
    The problem with the cost of education isn't the students willingness to attend, but rather the fact that student loan money is so easily distributed. Private schools charge 40-50k a year in tuition because they KNOW they can get the money from the govt and the banks, so for now money's no object. If we made student loans harder to get or had gov't regulations on what schools could charge for tuition, we would see prices stabilise or fall.

    The other problem is that alot of employers demand college degrees for jobs that don't need degrees at all really, meanwhile people are seeking degrees in subjects that won't give them skills necessary to find employment.

    If you borrow 150k to get a degree in ANY field that isn't guaranteed to give you at least half that amount in salary, you're an idiot. The problem with people is that they don't see school as a financial investment in their future, idiot guidance councellors and college reps tell them that student loan debt is "good debt" and that they should follow their dreams and then when reality hits you at 25 they shrug they shoulders and say at least you had a college experience and have "critical thinking skills".

    The only people I feel sorry for are people who's parents make too much money to get financial aid, but don't wanna pay they tuition so they get stuck with loans. Other than that, if you went school and decided to study foolishness then you deserve whatever happens to do. I see people switch to easy majors all the time that have shitty job prospects and wonder what they gonna do in 3 years time when they gotta pay they loans for this shit. Had a roomate paying FULL tuition (50k + 15k for room and board) and studying western literature...fxcking idiot.

    student loan debt is the worst kinda debt...you get no assets for it, the interest is outstanding and theres no discharging in bankruptcy
    "sa ki ta'w sé ta'w, la rivié pé pa chayé'l "


    Father, before mi mind get bad
    Betta yuh flip it round and mek mi mind get mad
    Mi prefer fi work hard everyday fi achieve mi goals
    Nah grudge nobody fi dem own

  4. #4
    Norman SWAGGERIFIC is offline
    Join Date
    Jan 2010
    Location
    NEW YORK
    Posts
    17,206
    Credits
    101,493,621
    Quote Originally Posted by SKBai1991 View Post
    The problem with the cost of education isn't the students willingness to attend, but rather the fact that student loan money is so easily distributed. Private schools charge 40-50k a year in tuition because they KNOW they can get the money from the govt and the banks, so for now money's no object. If we made student loans harder to get or had gov't regulations on what schools could charge for tuition, we would see prices stabilise or fall.

    The other problem is that alot of employers demand college degrees for jobs that don't need degrees at all really, meanwhile people are seeking degrees in subjects that won't give them skills necessary to find employment.

    If you borrow 150k to get a degree in ANY field that isn't guaranteed to give you at least half that amount in salary, you're an idiot. The problem with people is that they don't see school as a financial investment in their future, idiot guidance councellors and college reps tell them that student loan debt is "good debt" and that they should follow their dreams and then when reality hits you at 25 they shrug they shoulders and say at least you had a college experience and have "critical thinking skills".

    The only people I feel sorry for are people who's parents make too much money to get financial aid, but don't wanna pay they tuition so they get stuck with loans. Other than that, if you went school and decided to study foolishness then you deserve whatever happens to do. I see people switch to easy majors all the time that have shitty job prospects and wonder what they gonna do in 3 years time when they gotta pay they loans for this shit. Had a roomate paying FULL tuition (50k + 15k for room and board) and studying western literature...fxcking idiot.

    student loan debt is the worst kinda debt...you get no assets for it, the interest is outstanding and theres no discharging in bankruptcy
    exactly student loan debt is the worse...I rather mortgage debt, because u have some kind of assets to show for it..or in worse case scenario u just stop paying it...or file bankruptcy but this student loan debt is like a jumbie riding your back.

    I have a low amount and I am trying to pay it off quickly cuz its annoying, but whats even more dumb is that financial planners tell some people its ok just pay the minimum on the debt, dont rush to pay it off...YEAH right I wanna pay it off in 2 years.
    GREATNESS IS ALL I KNOW

  5. #5
    where de crix Oneshot's Avatar Oneshot is offline
    Join Date
    Apr 2003
    Location
    Brick City, NJ
    Posts
    24,667
    Credits
    40,139,677
    Quote Originally Posted by SWAGGERIFIC View Post
    exactly student loan debt is the worse...I rather mortgage debt, because u have some kind of assets to show for it..or in worse case scenario u just stop paying it...or file bankruptcy but this student loan debt is like a jumbie riding your back.

    I have a low amount and I am trying to pay it off quickly cuz its annoying, but whats even more dumb is that financial planners tell some people its ok just pay the minimum on the debt, dont rush to pay it off...YEAH right I wanna pay it off in 2 years.
    yep totally agree, but like SkBai said earlier, it is easier to get student loan than a mortgage.

  6. #6
    Norman SWAGGERIFIC is offline
    Join Date
    Jan 2010
    Location
    NEW YORK
    Posts
    17,206
    Credits
    101,493,621
    A major problem is a lot of people who are going to college should not even be going to college at all!

    This whole debt thing has me second guessing if I should do a MBA
    GREATNESS IS ALL I KNOW

  7. #7
    Registered User SKBai1991's Avatar SKBai1991 is offline
    Join Date
    Apr 2010
    Location
    New York
    Posts
    5,780
    Credits
    11,357,279
    Quote Originally Posted by SWAGGERIFIC View Post
    A major problem is a lot of people who are going to college should not even be going to college at all!

    This whole debt thing has me second guessing if I should do a MBA
    depends on what you want the MBA for and where you get it from...MBA's are a dime a dozen nowadays & prestige matters.

    This is why I love medicine. It doesn't really matter where you get your MD and even the lowest-paid specialties still pay at least 150k at the minimum. Bad as the debt is at the very least I know I'll be able to pay it back in a reasonable time.
    "sa ki ta'w sé ta'w, la rivié pé pa chayé'l "


    Father, before mi mind get bad
    Betta yuh flip it round and mek mi mind get mad
    Mi prefer fi work hard everyday fi achieve mi goals
    Nah grudge nobody fi dem own

  8. #8
    Registered User Lucianite is offline
    Join Date
    Jul 2006
    Location
    Somewhere
    Posts
    7,579
    Credits
    82,398,092
    What do consider studying " foolishness" .?

    I would not encourage my kids to go into social work or some other low paying field but I think saying studying " foolishness" and sounding so dogmatic about it is kinda stupid sounding

  9. #9
    Registered User Lucianite is offline
    Join Date
    Jul 2006
    Location
    Somewhere
    Posts
    7,579
    Credits
    82,398,092
    Like a lot of there things its affects our community disproportionately too

  10. #10
    Registered User SKBai1991's Avatar SKBai1991 is offline
    Join Date
    Apr 2010
    Location
    New York
    Posts
    5,780
    Credits
    11,357,279
    Quote Originally Posted by Lucianite View Post
    What do consider studying " foolishness" .?

    I would not encourage my kids to go into social work or some other low paying field but I think saying studying " foolishness" and sounding so dogmatic about it is kinda stupid sounding
    I actually would much rather encourage someone to go into social work or teaching than hear they getting a degree in comparative literature or any of the humanities. At the very least, even though social workers are poorly compensated they have a skill which helps society and give them the tools to find employment. All ah dem ppl studying germanic studies or anthropology...while those fields are interesting, their degrees give them little skills other than writing papers and teaching that very same material to other people. Spending tens of thousands of dollars on an education that you could get in a public library for 1.50$ is foolish
    "sa ki ta'w sé ta'w, la rivié pé pa chayé'l "


    Father, before mi mind get bad
    Betta yuh flip it round and mek mi mind get mad
    Mi prefer fi work hard everyday fi achieve mi goals
    Nah grudge nobody fi dem own

  11. #11
    Registered User Lucianite is offline
    Join Date
    Jul 2006
    Location
    Somewhere
    Posts
    7,579
    Credits
    82,398,092
    But people who study literature can get jobs in a wide range of fields...... Still I think there is value is studying anything..... It's sad that people might not be able to live by it.... But we can't have a world where people study only medicine and engineering etc

  12. #12
    Registered User Lucianite is offline
    Join Date
    Jul 2006
    Location
    Somewhere
    Posts
    7,579
    Credits
    82,398,092
    It's really foolish to say stuff like you get an education on certain subjects for 1.50. And to disparage the value or learning of another field simply because its not profitable ..... You might produce children that want to study them things... Be careful

  13. #13
    Registered User Lucianite is offline
    Join Date
    Jul 2006
    Location
    Somewhere
    Posts
    7,579
    Credits
    82,398,092
    I hope you keep this kind of arrogance off your medical school application..... Med schools are also looking to enroll people form the humanities and other areas....

  14. #14
    Registered User SKBai1991's Avatar SKBai1991 is offline
    Join Date
    Apr 2010
    Location
    New York
    Posts
    5,780
    Credits
    11,357,279
    Quote Originally Posted by Lucianite View Post
    But people who study literature can get jobs in a wide range of fields......Still I think there is value is studying anything..... It's sad that people might not be able to live by it.... But we can't have a world where people study only medicine and engineering etc
    Outside of education, journalism and freelance writing there aint much out there for them...and in the last two categories it's VERY hard to make a living, much less make enough money to pay back any kinda debt.

    I agree that there is value in knowledge, but when you're dealing with thousands and thousands of dollars of somebody else money you borrowing and have to pay back no matter what, you need to look at what's practical. Not everyone could be doctors or nurses or engineers, but for 150k in debt it makes alot more sense to do engineering than it would to do a degree in history or sociology.
    "sa ki ta'w sé ta'w, la rivié pé pa chayé'l "


    Father, before mi mind get bad
    Betta yuh flip it round and mek mi mind get mad
    Mi prefer fi work hard everyday fi achieve mi goals
    Nah grudge nobody fi dem own

  15. #15
    Registered User SKBai1991's Avatar SKBai1991 is offline
    Join Date
    Apr 2010
    Location
    New York
    Posts
    5,780
    Credits
    11,357,279
    Quote Originally Posted by Lucianite View Post
    I hope you keep this kind of arrogance off your medical school application..... Med schools are also looking to enroll people form the humanities and other areas....
    Saying that you shouldn't borrow 150k of taxpayer money at 8% interest to get a degree that will more than likely NEVER provide you with a salary high enough to pay back that money is arrogance? Most of my classmates who have debt and liberal arts degrees WISH someone had told them this when we were 17 and signing our lives away for a piece of paper.

    Anyway I already got in, so don't worry about me.

    Quote Originally Posted by Lucianite View Post
    It's really foolish to say stuff like you get an education on certain subjects for 1.50. And to disparage the value or learning of another field simply because its not profitable ..... You might produce children that want to study them things... Be careful
    I did a minor in history along with my BS in biology...I'm not disparaging humanities, social sciences or liberal arts but I'm not gonna pretend like its a smart investment to borrow six figures on those degrees. And yes, I can say that you could study many humanities and liberal arts for 1.50 at the library because I LITERALLY borrowed most the the required reading for my minor, from the NY public library.

    Even other people who have gotten PhD's and are tenured faculty at universities are saying that it is a TERRIBLE idea to borrow money to pursue a degree in the liberal arts and the humanities. It has nothing to do with the subjects themselves and everything to do with the cost you pay to study them vs. the compensation you get in return for having that credential.
    "sa ki ta'w sé ta'w, la rivié pé pa chayé'l "


    Father, before mi mind get bad
    Betta yuh flip it round and mek mi mind get mad
    Mi prefer fi work hard everyday fi achieve mi goals
    Nah grudge nobody fi dem own

Page 1 of 4 123 ... LastLast

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •