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Which of these do you think is the reason college graduates are broke?
No jobs
They are in debt because they spent more money than they made.
They borrowed money.
They went to colleges that cost too much money for their budget.
They changed majors and went to stayed in college too long.
Poor work ethics and spoiled by parents.
Could not make sacrifices like using a bus or riding a bike instead of buying a car.
They majored in sociology, liberal arts, counseling, art, English, history,...
Jobs are outsourced
Unwilling to work at a "labor" or unskilled job
Colleges/Education "lied" to them
IMO the biggest reasons are lack of parental involvement. I am not saying parents should pay for any schooling but at least guide your kid through financial decisions that will be with them their adult lives. I saw too many vlast mates that had no idea what they wanted to do change majors and go even further into debt.
A lot pick a school that they can't afford for undergrad.
"This is my dream, my heart is bleeding!" Is your dream being broke? In most (not all) fields, where one does an undergraduate degree is really not very important. It's sort of a commodity. Grad school matters tremendously, but a BS, eh. It's better to go somewhere on scholarship or to a state school if one cannot afford a "dream" school.
A lot pick a school that they can't afford for undergrad.
"This is my dream, my heart is bleeding!" Is your dream being broke? In most (not all) fields, where one does an undergraduate degree is really not very important. It's sort of a commodity. Grad school matters tremendously, but a BS, eh. It's better to go somewhere on scholarship or to a state school if one cannot afford a "dream" school.
I disagree. Certain schools have much better recruiting networks than others. This can lead to a great variance in employment opportunities at the undergraduate level.
Why are college grads broke, a number of reasons. I think in past generations more students held down fulltime or at the very least parttime jobs while attending college and while students still do that I think you have more kids not working either getting scholarships, loans or parents paying their way. If you are working you can build up some savings while working and going to college so your not completely broke with debt when you get out. Also, I think too many kids go for degrees that they wind up in debt and stillworking at starbucks so going to have a hard time paying back that debt.
IMO the biggest reasons are lack of parental involvement. I am not saying parents should pay for any schooling but at least guide your kid through financial decisions that will be with them their adult lives. I saw too many vlast mates that had no idea what they wanted to do change majors and go even further into debt.
I would say that the opposite, too heavy-handed of parental input, is as, if not more, damaging. Helicopter parents create situations where children reach adulthood never having had to navigate their own life's choices, live with consequences of their choices, and are woefully ill-prepared to do either. Making your own decisions, your own mistakes, and handling any fallout is the very definition of coming of age. Handholding, at best, and domineering, at worst, doesn't make it any better, it just arrests development.
If you've never had to manage a budget before, and had somebody consistently bail you out when you came up short, yeah, you're gonna make mistakes along the learning curve.
Last edited by TabulaRasa; 12-08-2014 at 11:12 AM..
Which of these do you think is the reason college graduates are broke?
No jobs
They are in debt because they spent more money than they made.
They borrowed money.
They went to colleges that cost too much money for their budget.
They changed majors and went to stayed in college too long.
Poor work ethics and spoiled by parents.
Could not make sacrifices like using a bus or riding a bike instead of buying a car.
They majored in sociology, liberal arts, counseling, art, English, history,...
Jobs are outsourced
Unwilling to work at a "labor" or unskilled job
Colleges/Education "lied" to them
There is no single reason for all of it. Different people are in different situations - but the ones on your list are definitely among the common reasons.
Not all of them are broke, either. I know someone who just graduated with zero debt, saved up to buy a car with cash, and got hired straight out of college by Google!
College students are broke because the cost of college education has become cost prohibitive. The cost of college has risen astronomically because colleges are in a arms race against each other. It appears that every college wants to become a research institution. To that end, colleges are borrowing hundreds of millions of dollars upgrading programs, building modern facilities including condo-style dorms and hiring "star" professors to conduct research. Some one has to pay for it.
I disagree. Certain schools have much better recruiting networks than others. This can lead to a great variance in employment opportunities at the undergraduate level.
If a BS is the terminal degree in the field, you're right. Now-a-days that is less and less the case.
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