STudent Loan- Major in Debt - SMART OR STUPID?

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!
 

SKBai1991

Registered User
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
 
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.
 

Oneshot

where de crix
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.
 
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
 

SKBai1991

Registered User
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.
 

Lucianite

Registered User
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
 

SKBai1991

Registered User
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
 

Lucianite

Registered User
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
 

Lucianite

Registered User
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
 

Lucianite

Registered User
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....
 

SKBai1991

Registered User
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.
 

SKBai1991

Registered User
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.

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.
 

Lucianite

Registered User
You called the subjects "foolishness" and suggested that it could be found for 1.50 in a library ... This was the arrogance ...

Can you make the argument intelligently without the disparaging and arrogance is what I'm saying

I already told you I would not encourage my kids to do certain subjects for the reasons you state about roi. Return on nvestment
 

SKBai1991

Registered User
You called the subjects "foolishness" and suggested that it could be found for 1.50 in a library ... This was the arrogance ...

Can you make the argument intelligently without the disparaging and arrogance is what I'm saying

I already told you I would not encourage my kids to do certain subjects for the reasons you state about roi. Return on nvestment
I didn't suggest it, I openly said it and will stand by that statement, and I would know, since I've already done it. Like I've already stated, I'm not saying the information has no value in and of itself, but it certainly isn't worth six figures of debt and poor job prospects.

If that's arrogance then oh well. What's really arrogant is the fact that we perpetuate the blatantly false idea that you can do what you like and "the money will follow" and think that my generation wont catch on to the lie ppl been telling us
 

Lucianite

Registered User
congrats on you for getting into med school...... But you should know first hand how competitive it is..... what I'f all your classmates decided to go on to the med tract for the roi..... Most of them would fail anyway and be miserable if its nt what they like .....


How about other solutions like lower the cost of humanities degrees ?
 

Lucianite

Registered User
So you admit to your arrogance.....

Again there is no disagreement on the whole cost of the degree and the ability to pay..... I did not major int he humanities for this very reason but I was not a humanities person anyway lol except for philosophy but I couldn't imagine I could etch out a living so. Fully get your point it's not rocket science.

How can we get people who love the subject to pursue it

What if those humanities were dropped from universities and let students go to the libraries for 1.50
 

SKBai1991

Registered User
I will congrat you for getting into med school...... But you should know first hand how competitive it is..... C what I'f all you classmates decided to go on to the med tract for the roi..... Most of them would fail anyway and be miserable if its nt what they like .....
Most do fail, which is how many of them end up in the humanities in the first place, because it's really interesting as a field and something that one wouldnt mind doing forever if they could...but of course the majority can't since there simply arent enough jobs


How about other solutions like lower the cost of humanities degrees ?
They should inherently be cheaper since the overhead for a department of philosophy or english is inherently much cheaper than a department of chemistry or engineering or physics.

But lowering the cost of the degree does nothing to address the problem of what are many of these students gonna do with their lives once they graduate. Like I said before, a degree in the humanities doesn't realy give you high-demand skills that you can market, so while making the degree cheaper will ease the financial burden post-graduation, it won't help you get that first job.

Even if you were to get a PhD in any of those fields and stay in school for nearly a decade, about half of those PhD's won't find work and if you didn't graduate from a prestigious school, the chances of finding a tenure position is almost zero.

Why do you think graduate programs in the humanities always advertise themselves by saying "we're one of the most prestigious programmes in the country" but NEVER say "we place X amount of our graduates in tenure-track positions"? They KNOW the jobs aint there but they push ppl into the field anyway for the free labour they get in internships and the easy money they get in student loans.
 
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