The Education Scam or How to go into debt and still flip burgers ...

[Lucas156]

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[YJBrian]

I just made sure that my career would allow me to pay off my loans.

In 2002 engineers were starting at $50k. Even in a down market, people with actual skills who are hard to replace are still in demand.

My sister got a degree in animal something, starting salary $0. You get the privelege to cleaning animal **** for free for the opportunity of one day making about $30k a year cleaning animal ****.

Who am I to stand in the way of her dream though?

Our craptastic economy aside, this is the issue I see. If you are going to borrow big for school, at least train yourself in a subject where you can repay those obligations through a decent paying job. If you are smart enough to think you need to go to college, you should be smart enough to figure out the consequences of borrowing money you will HAVE TO pay back.

Me, my loans were a wonderful investment. Timing was right on interest rates, with various discounts (thru evil Sallie Mae) I'm at 1.625%. I'll be paying them back for a long time, but with an education that I can use, I'm not sweating it...

 

[Leadeye]

The education industrial complex at work.

 

[insanemonkey]

I made some mistakes with student loans. But I set myself up for success. I have a degree that I can make money with and I am working to pay off all of my debt. I would rather go with out then be in debt a minute longer. I hate that someone has control over my security.

 

[Duncan]

Kiyosaki on Schools / brain washing ...
Duncan

http://www.youtube.com/watch?v=AzPPchZRUlg&feature=related

 

[gunrunner0]

As i'm going into my 4th and final year of college, I don't feel that college is necessarily a scam I've learned alot in college and feel that it will help me when I move into the job world. However, the cost of college is pure scam. Unless your coming from a low income family (FASFA) or have the brains to get a scholarship, college is completely over-priced. I believe this is a result of schools running themselves like the federal government. Basically they spend money on stupid, unnecessary research and projects along with paying for other peoples tuition.

This is a truly flawed system. I am fortunate enough that my parents both completed college and saved enough money to pay for my college in entirety (full price). On the other hand my ex-girlfriend whose parents are not college educated recieved money in the form of grants from FASFA and her college (that dont have to be repayed) to more than pay for her tuition. So basicaly work hard in life so you can pay to send your kids to college in addition to somebody elses.

 

[Lucas156]

yeah its way overpriced especially when they consider your parents income yet your parents wont help you with crap

 

[IndySSD]

So I was thinking about this thread and researched why people are getting into so much debt... I just couldn't understand why people were spending SO much money at basic schools..... Then I looked at where I went to school (it was right at 7k/year including housing and a 3 meal per day + 50$ a week mealplan at a State Funded school as an In state student.)...

OMG it's now 17.5k before mealplan for the SAME DAMN SCHOOL..... granted that was about 12-16 years ago when I was there.... But wow a 150% increase in tuition/housing costs in ~15 years ?!?!?!?! WTF?!!?!?!?

 

[IndySSD]

As i'm going into my 4th and final year of college, I don't feel that college is necessarily a scam I've learned alot in college and feel that it will help me when I move into the job world.

That's because you haven't been in the "real" workforce yet.... I've been working since I was 13, mostly construction / facility maintenance from 13-18 (I had a pizza delivery job my senior year). Then I went to college.... I've worked in IT/Communications for the last 12 or 13 years or so and I can tell you flat out, nothing I had to learn at any of my positions (Currently in the Engineering dept of one of the nations largest TeleComm companies) and I mean NOT ONE DAMN THING had anything to do with what I learned in college as a bus ad/comp sci major/minor......

 

[Rob377]

So I was thinking about this thread and researched why people are getting into so much debt... I just couldn't understand why people were spending SO much money at basic schools..... Then I looked at where I went to school (it was right at 7k/year including housing and a 3 meal per day + 50$ a week mealplan at a State Funded school as an In state student.)...

OMG it's now 17.5k before mealplan for the SAME DAMN SCHOOL..... granted that was about 12-16 years ago when I was there.... But wow a 150% increase in tuition/housing costs in ~15 years ?!?!?!?! WTF?!!?!?!?

Schools up tuition, so the feds up the assistance, so schools raise tuition to get their bigger share of the fed gravy train money, so the feds up the assistance, so the schools raise tuition again, so the feds up the assistance...... and the bubble keeps inflating.

 

[Paco Bedejo]

Schools up tuition, so the feds up the assistance, so schools raise tuition to get their bigger share of the fed gravy train money, so the feds up the assistance, so the schools raise tuition again, so the feds up the assistance...... and the bubble keeps inflating.

Exactly. It's going to be interesting to watch this particular bubble burst.

 

[Lucas156]

Exactly. It's going to be interesting to watch this particular bubble burst.

Yup I can't wait