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Old 05-19-2013, 08:09 PM   #55

CamaroDreams07's Avatar
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Join Date: Jun 2009
Location: East Lansing, MI
Posts: 9,362
Yeah that makes sense. I wish I had any money to invest haha. As tuition rates are outpacing inflation threefold or more, more and more young people are starting their lives in a huge hole.

For example, I had $36k in student loans for my Master's (fortunately scholarships covered undergrad). This amounts to $310/mo for ten years under the standard recommended repayment plan. That means that just to stay in a lower middle class level in the next ten years, I need to average $35k take home, so at least $50k.

Luckily, my field starts quite a bit higher, but my point is that for people who have to borrow more and land lower income jobs, this is seriously problematic for the economy.

I've said it before and I'll say it again, college is just buying a really expensive piece of paper. But as long as we have the government making student loans available at low interest rates for people who shouldn't get them, and employers insisting on at least a bachelor's degree to screw in a light bulb, this is the world we have to accept. It ****s everyone, but it makes the government and colleges a shit load of money. The current higher education system makes everyone but them worse-off.


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