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I bring in over 100k, I'm not poor, not rich either, Ive been blessed to be able to earn a decent living and during my time in college I had to work to pay for it, unlike some people who's mom and dad probably spent 200k on their education. The GI Bill did help with some of it as well.
Neither you or I can agree on this topic but keep in mind that the student loan bubble is very real and could cause another financial hardship for the United States.
You sound like you come from the entitlement generation, perhaps a millenial, I would not expect you to understand half of what I'm saying.
Upset you didn't have access to a good education, and you had to "work" your way through it? Keep on hating dude, it brings you nothing but misery.
The big problem with nyc is that NYC has very competitive job market and having too much competition is not good for the individual trying to get his or her big break. If an employer looks at two resumes where both candidates had no work experience and only a college education. 1 candidate went to Vassar while the other went to city college both majoring in business administration. Who do you think the employer going to hire? I do hope the college bubble pop soon though. The price of college is outrageous.
Of course the candidate can counter lack of experience by doing things such as getting internships, volunteering, etc. A lot of poor people want the big break but are too lazy to really do the work (it takes a lot more than the degree).
College is one of the biggest scams going. They tell you in order to get a good job you need a degree so the young folks go and get one, graduate 26k in debt or more, then when applying for jobs they are then told that they have no real experience or based on the level of ones degree are overqualified. A degree is one of the most oversold products in America.
If you never had the academic talent for engineering, medical professions, or technology, then you are better off pursuing technical education for one of the skilled trades.
Last year I bought in 105k in earnings. I'm ex-military with a 2 year technical degree in mechanical systems. My wife has a degree in business with a minor in accounting and business law, I've made more per week then she has.
Unless you are career specific, know exactly what you want to be professionally, and had the academic performance in high school to justify the cost of going on to college, then you are wasting your money, will only graduate in debt if you make it that far, and you will ruin your credit when your income to debt ratio goes out of whack cause you have more out in student loans then what you are actually bringing in.
College can be without a doubt, one of the biggest scams going.
It is not.
What you say may have been true 20 years ago,but it is different now.
One thing YOU constantly overlook about yourself is the fact you were in the military.
You got special consideration for jobs;everyone pretty much knows you get points for being in the military on job applications.
Yes I was able to use my veterans preference if need be and so what I earned it just like you guys earned your degree, commitment, sacrafice, and hardwork gets it done.
I'm not debating the value of an education I'm debating the cost of it. You cannot tell me that a debt load of 1.2 trillion and counting as all these student loans combined now equal is a safe place for America to be in. Just like in the housing market by trying to help more people go back to college and giving out thousands in loans to just about everyone, it's a financial disaster waiting to happen.
If kids were leaving college and had a robust job market to look forward to, affordable housing options for first time buyers and recent grads, and the starting salaries were at least enough to pay back these loans that would be one thing, but currently our country is not in that situation.
College grads are postponing marriage, home buying, and starting families because of college debt. The American Dream for them is being erased because colleges have raised tuitions so high that the only 3 choices you have in order to go is to come from affluence, finance it, or serve your country and use the help of the GI Bill. Not everyone comes from affluence, not every one is cut out for military service so the last option is to finance it, and that's the debt creator.
I went and got a technical degree in mechanics and regrigeration cause I always enjoyed working with my hands, fixing things, repairing, servicing, diagnosing, and so on. 4 year colleges don't offer degrees in plumbing, electrical, or hvac, so for guys like me who have a passion for all things mechanical, my money was better spent in a 2 year program. In which case I had the GI Bill so it didn't cost me anything anyway.
So yes as a veteran I've been given special considerations as well, from buying my home with my veterans home loan certificate to using my veterans preference in order to get into certain occupations I've been blessed to be able to have those opportunities. And none of it cost me 200,000 dollars in order to hang a piece of paper on the wall, I have enough military awards and industry certifications already hanging already.
Yes I was able to use my veterans preference if need be and so what I earned it just like you guys earned your degree, commitment, sacrafice, and hardwork gets it done.
I'm not debating the value of an education I'm debating the cost of it. You cannot tell me that a debt load of 1.2 trillion and counting as all these student loans combined now equal is a safe place for America to be in. Just like in the housing market by trying to help more people go back to college and giving out thousands in loans to just about everyone, it's a financial disaster waiting to happen.
A capitalist economy is based on debt. Big companies like WalMart borrow (they sell corporate paper) to fund their operations when sales are slow (to be paid back during the months when they have high sales like back to school, thanksgiving to Christmas, post New Years, etc.) Businesses are founded and expand in part due to credit.
Nothing is wrong with college debt provided that the graduates have the income to service it. And since you bring out the housing collapse, post housing collapse people still use mortgages to buy homes and they still make monthly bill payments. To tell you the truth everyone is always in some sort of debt. You have to pay property taxes each year. Certain other bills have to be paid regularly (some people have more than others).
I think there's a working class mentality that doesn't understand how important the debt markets are to commerce overall.
debt is a disease that keeps people poor by charging people more.
I seriously think NYS should have an usury law that anything over, say 15% interest, is illegal. It needs to be enforced on out-of-state lenders and fought to the Supreme Court again.
Its all well and good in theory having a free market for money lending - but we all know the most desperate poor, and often the least knowledgeable, end up paying criminal interest rates. Its a disgrace.
I seriously think NYS should have an usury law that anything over, say 15% interest, is illegal. It needs to be enforced on out-of-state lenders and fought to the Supreme Court again.
Its all well and good in theory having a free market for money lending - but we all know the most desperate poor, and often the least knowledgeable, end up paying criminal interest rates. Its a disgrace.
The banking industry lobbieists would not like to see that happen.
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