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Oh don't get me wrong, "bad majors" are a problem. The issue is we went from the era of ANY degree from ANY institution was good to now you have to look at nursing, computer or engineering majors to really get a good paying job from your 4/5 years in college. The problem is universities and high school teachers and guidance counselors still perpetuate the lies of "just go to college, the major don't matter just get the sheepskin" to juniors and seniors. It's only since the 2009 or 2010 graduating classes that students should have known there are bad majors out there that won't help employment (in many cases.) But as I mentioned if schools continue to profess their "any college is a good idea" and parents don't help, the students themselves wont really know to check major viability and costs. Some will, most wont.
This.
The worst advice you can give to a young person is "do what you love". You'll set them up for financial failure for the rest of their lives.
Far better to do something that pays well, and won't make you miserable. Then you can use your free time and money to do what you love, rather than spending your free time searching the dumpster (starving artist comes to mind). Or, if you'd like to have 100% of your time to do what you love, you can go for financial independence at an early age such that you don't need to worry if your hobby makes money.
I'm now debt-free 2 years out of college - paid it off myself. A few ways I saved a lot of money:
Go to a community college for your first 2 years. The cost is usually very low, and you can live at home. Community college has the bonus of often being easier, so you can get a very good GPA and hold a part-time job to cover at least your community college costs. At a CC you will get all of your GE classes out of the way, and perhaps even get an AA degree (like I did). There's no reason to pay tens of thousands a year to a 4-year university just for GE classes which transfer right in!
Transfer from that community college into a cheap but good quality state school as a junior transfer. With your good GPA it should be easy to get into any one you want.
Now at school, focus on cutting costs and even earning some side income. Make your own meals and avoid the overpriced mealplan. Don't buy textbooks from the university bookstore - buy used or even share with classmates or use the campus library. Get a paid internship (may require first having a free internship, like I did).
Focus on doing well with your studies such that you can graduate on time with a good job, not on partying.
I just can't understand why people are so focused on the "college experience" at a 4-year university for the first 2 years of school, when that time is putting you in debt for much of your adult life. It's insanity.
For one, community colleges (and I used that route) are a bit of a cash grab. You can test out of certain math courses and even English BUT it is often vastly under-graded so you have to pay for the cost to take the lower division maths to get into college math/algebra and from there any more advanced math. By doing so, they got you for another one, two, three even four courses that are prerequisites. There are other tests you can take to CLEP (or others) exams but they do cost money and you would need to self-teach, which may not work for you. If you can't self teach, paying $80 a test isn't the best of ideas.
For two, there is a bias (and from my experience with lower division classes somewhat rightfully so) of community colleges being for "mouth breathers." To go to community college in a way is a sign of weakness because you weren't "good enough" for university. I personally disagree with it, but it is a bias that exists.
For one, community colleges (and I used that route) are a bit of a cash grab. You can test out of certain math courses and even English BUT it is often vastly under-graded so you have to pay for the cost to take the lower division maths to get into college math/algebra and from there any more advanced math. By doing so, they got you for another one, two, three even four courses that are prerequisites. There are other tests you can take to CLEP (or others) exams but they do cost money and you would need to self-teach, which may not work for you. If you can't self teach, paying $80 a test isn't the best of ideas.
For two, there is a bias (and from my experience with lower division classes somewhat rightfully so) of community colleges being for "mouth breathers." To go to community college in a way is a sign of weakness because you weren't "good enough" for university. I personally disagree with it, but it is a bias that exists.
Even if the state has a transfer program, that community college credit might not be transferable to all or even most four-year unis in state. I know East TN State would accept TN CC math credits, but UT-Knoxville would not.
The worst advice you can give to a young person is "do what you love". You'll set them up for financial failure for the rest of their lives.
Far better to do something that pays well, and won't make you miserable. Then you can use your free time and money to do what you love, rather than spending your free time searching the dumpster (starving artist comes to mind). Or, if you'd like to have 100% of your time to do what you love, you can go for financial independence at an early age such that you don't need to worry if your hobby makes money.
The issue is does is what is in need (what pays well) line up with my strengths (what I do well and would have some what a passion for.) Many people say we need more STEM majors and more nursing majors, however what they don't say is they want QUALIFIED and capable graduates in those fields. They don't want the student with the 2.5 major GPA from barely staying awake in class being a nurse and taking your blood work wrong or being an engineer and working on testing the structural integrity of a building and saying it would work when it lasts 2 years due to design flaws they didn't catch or someone who isn't good at coding work on your website. If you have your strengths align with what is in need, you will do fine. The issue is for those that don't today isn't six/seven years ago when it was fine that it wasn't the case because you still had the degree.
The issue is does is what is in need (what pays well) line up with my strengths (what I do well and would have some what a passion for.) Many people say we need more STEM majors and more nursing majors, however what they don't say is they want QUALIFIED and capable graduates in those fields. They don't want the student with the 2.5 major GPA from barely staying awake in class being a nurse and taking your blood work wrong or being an engineer and working on testing the structural integrity of a building and saying it would work when it lasts 2 years due to design flaws they didn't catch or someone who isn't good at coding work on your website. If you have your strengths align with what is in need, you will do fine. The issue is for those that don't today isn't six/seven years ago when it was fine that it wasn't the case because you still had the degree.
And this is why good career research should investigate several things:
How much the field currently pays.
The long-term earning potential increase (you don't want a job with no chance of advancement)
The field's forecasted job growth or decline
The position's alignment with your skillset and personality
The difficulty of obtaining any required education for the field (includes time spend obtaining said education)
Your level of interest in the field (should be at least tolerable)
Working conditions of the field
I did this sort of assessment 1 year into community college after trying a bunch of classes from different majors. I was thus able to rule a lot of majors out. For example:
Legal: too many graduates and not enough jobs. Future of career in doubt.
Medical: too much time in school (resulting in large debt), long hours and very stressful
Engineering: field was interesting but a lot of extensive math classes were required. Decided it wasn't for me.
Ultimately I decided on business (marketing) with a technology emphasis since I do enjoy technology, and that's the field I'm in today. I would not have been able to make this good of an assessment if I had chosen my major in my senior year of high school.
Lol, okay, take the graduate degree out then. You still have $25k - $33k on average of student loan debt for bachelor's degree holders only. The starting salary break-downs that I pointed out are the same and the PROCESS to get to those starting salaries are the same that I pointed out earlier in this thread.
It takes us longer to get to a position of "stability". I have laid it all out for you, you continuing to respond with, "No, it's not like that," isn't supported by any data, reports or analysis.
The fact is, my generation is screwed.
Actually, real wages are still much higher than several decades ago. What has happened is that people are less willing to be frugal now than back in the day. It used to be that you expected to have roommates until you got married, that kids can share a bedroom, that you cook food at home, etc.
If you live the way someone middle class would in the 1960's, you study something useful, and do your diligence, you actually quite likely will be financially just fine.
Very true. Gone are the days when young adults could move out of the house at 18 and get a decent job or go to an affordable college. Now quite a few are saddled with debt, low income jobs and have to live at home at a much later age. I'm glad I was born in the 70s. Good luck to the younger generation.
Shocker there. Look at the economy we have been dealt. Millennials are never going to have the opportunity that our parents had. I have spent my entire adulthood in this **** economy. I wonder what good times are actually like.....
Shocker there. Look at the economy we have been dealt. Millennials are never going to have the opportunity that our parents had. I have spent my entire adulthood in this **** economy. I wonder what good times are actually like.....
But boomers will talk about "but what about the 70s? Unemployment was high and we went off the gold standard with high gas prices. That is true BUT all costs wasn't as high with more low paying jobs being created, stagnant wages despite the costs going up and not enough jobs at that. It's not that people aren't saving when they could, they aren't saving because there isn't anything to save.
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