Quote:
Originally Posted by cody
Well let's just use Jake's situation as an example. I'm pretty sure the $2-3K he's proposing on spending on furthering his education is going to pay off over his lifetime via wages, but apparently you know something I don't?
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No, I totally agree. In Jake's situation, it's worth the cost.
Just the idea that in general "education is a really good investment" is about to become suddenly outdated. We're looking at a generation of kids about to enter the job market so far in debt that they'll be indentured servants until they retire. IMO, if you're going to be more than $10k in debt the day you graduate, you couldn't afford the school you went to. There are plenty of ways to get educated without dumping $100,000 on college (trade schools, on the job training, personal study). You shouldn't have to work somewhere for more than a year or two right out of school to pay off you loans. Employers are trimming back wages for college grads because they know kids will take a job and stay at it due to the huge debt they're trying to pay off (and it's impossible to claim bankruptcy on a student loan), so it's becoming less and less of an advantage to have a degree (though it is still an advantage right now IMO).
But all that said, it sounds like Jakes in a good place with scholarships and the like. I'm not lumping him in with the folks that are going to get nailed in the next bubble burst.
Some more info on the bubble:
http://www.good.is/post/when-will-th...s-511-percent/
http://www.huffingtonpost.com/2011/0..._n_922646.html