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Simple...don't take out loans for college in the first place, and for sure don't if you expect the rest of us to pay for them through loan forgiveness.
If kids would buckle down starting in high school, instead of partying it up and messing around, they can get scholarships, grants, and even free rides.
It is difficult to not take out loans for college. I started in college in 2004. It was around $5,000 per year for tuition. That will have doubled by this fall.
Unless someone has substantial scholarships, the "pay as you go" method isn't viable in many cases.
Quote:
Originally Posted by Mikala43
When I was a kid (lol), you didn't expect great jobs off the bat, sometimes you started at entry level and worked your way up. We certainly didn't expect McDonald's to pay a living wage.
I haven't seen any data supporting what you said, a lot of people saying it? Yeah. Stats? No.
Not saying it's not out there, so I would be interested.
I don't know any Millennial who expects to walk into the C suite right after college. With that said, people expect openings at the bottom. That's where a lot of the trouble has been. People don't go to college to sling coffee at Dunkin
I graduated from business school and was a finance guy. I didn't expect to go to Wall Street, but figured a corporate finance job locally may be reasonable. This was in 2010. Not only could I not find an entry level corporate finance job, I couldn't even find a bank teller position. This was with an in-field internship and being pretty well connected in the community.
Since then, I've worked for two major local employers. There is almost no turnover in their finance staff. I have a cousin, who passed all four parts of the CPA exam here in Tennessee and has a BS in accounting, that cannot get a job under a practicing CPA to get the hours needed to actually get the license. That's common in this area.
Last edited by Serious Conversation; 07-31-2017 at 07:50 AM..
It's the economy and lack of affordable housing. My oldest has a roommate or he wouldn't be able to afford his place and my youngest is still living with me for the next few weeks. If someone doesn't make $50K a year they will not be able to live a comfortable life without resorting to roommates.
Many of these kids simply have no ambition either, and it's due to our generation pandering to their every whim. We have failed this generation like no other IMHO by giving them trophies for simply showing up and treating them like royalty. The payback is delayed retirement and ungrateful spoiled brats living under our roofs.
Not this again.
Worst of all when it's coming from baby boomers, who were born on third base and think they hit a triple.
I know plenty of successful millennials that come from very modest backgrounds...
They all took initiative... some are now registered nurses, others work in other areas of Healthcare...
The nurses were able to make it by using their earned benefits from military service...
Come to think of it that is how many of their parents/grandparents got a leg up...
That's right. Smart kids who major in something with a high startling salary like nursing and computer science are doing just fine. The key word is smart. This economy does not favor people with lower IQS who are not capable of doing higher level work.
Spent 10k on an emergency repair on Sunday... a steam boiler needed to be re-tubed...
40 tubes to cut out and then prep and install 40 new ones.
The boiler maker was amazing... had everything needed on his truck and 29 years old... his helper age 22 was a darn hard worker... they were beat after working 8 straight hours in the hot boiler room and filthy dirty from head to toe.
They say there is so much work and so few that working 7 days a week is common... $135 an hour for the boiler maker yesterday and loves the company he works for... 10 hours on the clock and that is $1350 for one long day...
He is under 30, has a wife with two kids and a nice home where he did all the ornamental iron work...
Simple...don't take out loans for college in the first place, and for sure don't if you expect the rest of us to pay for them through loan forgiveness.
If kids would buckle down starting in high school, instead of partying it up and messing around, they can get scholarships, grants, and even free rides.
This is a sure way to make sure kids would never go to college.
It's the economy and lack of affordable housing. My oldest has a roommate or he wouldn't be able to afford his place and my youngest is still living with me for the next few weeks. If someone doesn't make $50K a year they will not be able to live a comfortable life without resorting to roommates.
And in many of the areas where the economy is booming the most, it take far more than 50K to live without roommates. I make more than that and my only debt is my car, and I still have 2 roommates. I've been applying for jobs all over the country and have had a few interviews in smaller cities, and even with an (almost) master's degree and 7 years of experience, it is really hard to find work where you can rent an average 1 bedroom apartment for under 25% of your income (my rule of thumb).
Granted, the career field I fell into pays a little less than the one I trained for but was medically disqualified from continuing right out of college, but even that career field would have limited me to just major cities.
Quote:
Originally Posted by Sharpydove
Simple...don't take out loans for college in the first place, and for sure don't if you expect the rest of us to pay for them through loan forgiveness.
If kids would buckle down starting in high school, instead of partying it up and messing around, they can get scholarships, grants, and even free rides.
Both my boyfriend and I got full rides thanks to "buckling down" in high school - him to an Ivy, me to a top tier private school. The problem is an undergrad degree often doesn't cut it these days. He went to law school, started a business his final year to supplement his income after a summer law internship ended, and planned on dropping it once he started on his legal career and passed the bar. But he graduated into the recession and couldn't find legal work, despite passing the bar in 3 states. To stay afloat and keep paying his law school debt, he focused on the business. Now he's years out of law school and will never be able to find a lawyer position since he's been out so long, but he is 6 figures in debt.
Grad school, particularly professional grad programs, have very limited scholarships. To enter professions like law, medicine, dentistry, veterinarian, etc, you are resigned to taking on, in most cases, well into 6 figures of debt. How much debt my boyfriend has keeps me up at night, and will certainly impact every aspect of our life together, not to mention limits the scalability of his business which is hampered by his ability to secure business loans. He had always wanted to be a lawyer. He would have been an excellent lawyer. He did everything right - the Ivy league degree on a full scholarship, taking smart internships during law school, building connections. He didn't account for the legal market to implode and to not be able to find legal work that would help him pay those loans off. Unfortunately, so many years past his JD, he is unlikely to find a law job and is less attractive to many employers because his work history is focused around being an entrepreneur.
He's better off than many of his classmates. His best friend also graduated with 6 figures of debt and currently works as a bank teller - with a JD. An ex boyfriend of mine graduated with his JD in 2008 and spent 5 years tutoring LSAT prep and representing DUIs thanks to Craigslist ads until he was able to get a government (and non-legal) job.
A big reason why we're seeing less and less doctors go into family medicine is because the salary doesn't make the $200,000+ in med school loans (plus any undergrad loans) worth it.
And keep in mind that these loans often come with ridiculously high interest rates. One of my boyfriend's loans is 10%. It's insane.
Meanwhile, I've stayed in a job that I wasn't thrilled with, had limited room for advancement, and even less room for raises because they paid for my master's degree. Thankfully, they don't require me to stay and I will be out as soon as I can.
Wow, you are the VERY typical image of a millennial! Baby Boomers and their ilk are not entitled takers like so many of your generation. It disgusts me that instead of looking UP to those who do well, make good choices, or have more, you hate them. You don't want to take a long, hard look in the mirror and hold yourselves accountable. It's just easier to hate those who are older and do well.
I hate to break it to you, but the youngest Boomers are still not quite 53. We came in to adulthood during a bad time in the economy, too. The difference is, instead of moaning and boomeranging back to mommy and daddy, we figured it out! We also have another 15 working years ahead, if we choose! My husband and I left home at 17 & 18 with the clothes on our backs and my ancient car. We MADE a great life together with good decisions and hard work. Try it sometime...instead of hating on those who propel themselves upward.
Care to explain how you did it and how you would do it today my friend instead of saying "you darn kids"?
This is a sure way to make sure kids would never go to college.
I paid as I went and graduated with 2k in credit card debt... a deciding factor was NOT going off to college and commuting and still keeping my 3 part time jobs...
And of course there are those that receive scholarships... academic, sports and even from fraternal organizations... happened to a friends daughter... they are Portuguese and applied for a scholarship limited to those of Portuguese descent.
In addition there is the same was method many paid for school and that is by the educational benefit earned through military service... for some reason what was the most common method is totally discounted today.
Finally... there is student debt relief for those willing to practice in an underserved area for medicine, teaching etc...
One of my Doctor friends was recruited for Kaiser and part of the deal was Kaiser would retire a portion of her student debt for each year worked...
That's right. Smart kids who major in something with a high startling salary like nursing and computer science are doing just fine. The key word is smart. This economy does not favor people with lower IQS who are not capable of doing higher level work.
High Starting salary? Nursing starts out in the mid 30s which is hardly high. Even computer science (which is extremely broad) doesn't start out that high (usually in the low/mid 40s). Yes, money can be made with many years of experience, but definitely not when first starting out.
I'm not sure where people get the idea that graduates, even in STEM fields, find jobs that pay really high when fresh out of college.
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