Quote:
Originally Posted by taylor192
If you're 25yo and $100K in debt, the system has failed you. Unless you're going into a profession in demand that pays extremely well (medicine for example) then the system should have never lent you that much money.
I have many friends that graduated 1-2 years late (ie 5-6 years for a 4 year degree) and ended up $10Ks more in debt. Was it worth it? Most are government workers making $50K/yr, so yes cause they needed the piece of paper to get the job, yet overall they didn't need the degree for a paper pushing government job.
This is why people speculate education is the next bubble to pop as the return on an expensive education is not what it used to be. I hope online universities offering pretaped courses that you can complete at your own pace and for significantly less $$$ becomes a more popular option. Right now you can do this, yet it is not revered so people look down upon it and avoid it.
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I completely agree with you. I was in university at 19-right after high school. I did not really know what I wanted to do, and really I was not even focused on school. I dropped after 1 year, and owed 10,000. NOw-a lot of that was my fault-I could have worked at a better job in the summer, and I rented a kick-ass apartment to live in. Could have worked during school and probably drank a whole lot less.
Higher education is now meaningless. If everyone has a degree, then a degree does not differentiate you enough to be the higher earner that could pay for it.