3 ms·
It's a cultural issue more than anything, I think. Growing up, you're told that you need to go to college if you want to be successful. In high school the gifte
by helen___keller 6y ago
It's a cultural issue more than anything, I think. Growing up, you're told that you need to go to college if you want to be successful. In high school the gifted kids are pushed into college prep courses. When you start applying for colleges you are told to find a college that "fits" and a major that you're interested in, so you can build a future that makes you happy.
All the parents and teachers that you trust want you to be happy. Most of them don't care to inform you that the choices you're making now might leave you destitute for a decade. Most of them probably didn't know, because when they were growing up a college degree by itself was enough to thrust you into the upper middle class (supposedly).
Personally, I didn't get it until my first year of university, when I got a financial report on my $7500 of debt, realized that by graduation it would be $30,000. I looked up some salary numbers and thought about it for literally the first time in my life. That's when I decided I needed to change majors from chemistry to compsci, and I was damn lucky that carnegie mellon was where I chose to study chemistry.
- belval 6y agoI like you answer, I think it explains it well. If we ignore lowering the cost of tuition as a solution, what do you think could've helped in your situation? Making high school students aware of what college will cost and having them "do the math"?
- scarmig 6y agoSimply make student loans dischargeable in bankruptcy. Right now there's no countervailing force to taking out as large a loan as possible when you're 18 except your ability to anticipate what your life will be like ten years from now, which is difficult for most people and particularly difficult for teenagers. Making lenders have some actual skin in the game will make them perform due diligence, and the market will quickly correct itself once they have to bear some of the risk of a degree being economically worthless.
- hhas01 6y ago“I got a financial report on my $7500 of debt, realized that by graduation it would be $30,000.” Shocking numbers; the sort of APR we’d expect from dodgy pay-day companies and illegal loan sharks. You’d be far better off just taking out a mortgage, plus you get a nice house at the end and they don’t smash your ankles if you default.
- helen___keller 6y agoJust to be clear - interest doesn't accrue until graduation, the "it would be $30,000" just means each school year added a new $7500 loan.