The average student who graduates from college leaves with a slip of paper and a mountain of debt. As a matter of fact, the average graduate will be saddled with a monthly obligation of $350 a month for the next 20 to 30 years to repay their student loans. In other words that coveted sheep skin will cost the average graduate over $100,000.
During the four years a college student is buried in books, an apprentice could be learning a trade and earning thousands of dollars at the same time. To make matters worse the many students leave college they find it very difficult to even find a job.
If your goal is to go in to debt without learning the skills necessary to find meaningful employment, college is a great idea. If your goal is to meet a lot of girls and drink a lot of beer, attending college makes a lot of sense.
Our children are being taught that in order to be successful in life they must go to college so they can get a good job. As far as I am concerned this is very bad advice. The happiest and most successful people I know don't work for somebody else. When you accept a job, you become another man's indentured servant. The man who pays your salary becomes your master and you become his servant.
Rather than being an indentured servant, why not become an entrepreneur? An entrepreneur is an independent thinker while an employee is an errand boy simply doing what he is told.
The government and the bankers want everyone to go to college so that the graduates can join the ranks of perpetual debt slaves.
Replies
Sad but true.
If they want to actually get what they deserve back without the money-grubbing 8% interest, this is what they should do.
Reset ALL past and present loans back to the original amount then calculate 2% interest for every single loan. Require immediate repayment to begin. That should put the amount down to a reasonable cost per month, let people survive when it takes years, sometimes, to find that coveted job, and the beauty is that they will be paying longer, without all the deferments that have become necessary due to not finding jobs, so the government would get it's fair share without the plunder. My opinion.