you are a moran wrote:
I am a winner wrote:
you sound like a real winner wrote:
College loan debt is nothing like a fancy car debt. A fancy car debt is a luxury and everyone knows it's a bad investment. Until the last 10 years or so, the mantra has been "Education pays." The values of our society STRONGLY encouraged people to get their education at all costs. Well, those costs spiraled out of control, but 18-year-olds with no life experience were understandably following the mantra of "education pays." Honestly, what percentage of parents were telling their kids NOT to go to college?
College loan debt IS like fancy car debt. Why did one choose to go to a college that costs $50K a year when they had cheaper options (other public universities throughout the nation, 2 years of community college, etc). These kids chose the more luxurious college because it looked pretty with the new buildings, had a fancy dorm room, gourmet cafeteria, low class sizes, cool experiences, etc versus living at home for 2 years and getting their general education courses completed before transferring to a public university to finish their degrees. Rather than working part time during school and full time during the summer to help pay even a little bit towards school, they took the summers off and used their spare time to make memories in college and relied on these college loans completely. They paid for the college experience and this experience is a luxury.
And where exactly are you getting your data from?
All the kids I know who chose an expensive school chose it because they believed it would get them the best job and provide the best education to help them achieve their goals in life.
Honest fact, the best and brightest rarely teach at community college.
In hindsight, I can say community college makes financial sense in a lot of cases, but I don't blame anyone for not wanting to take that route at 18. To an 18 year old, it's as if you are already giving up.
And honestly, why should our brightest kids have to go to our worst schools purely for financial reasons? In the long run, it seems like a misallocation of resources.
Well, they were wrong. They bought into a false reality.
You are right the best and brightest rarely teach at community college. But, when taking your generals, there is not much of a drop off overall. Seriously, do you need to pay top dollar for general courses? Of course not.
I'm not saying they 'have to' go to our worst schools. I'm saying they have other more cost effective options that offer as good of education for undergrad. I've known kids that legitimately were the brightest, but they made poor choices. An example is a kid that got a full ride to Vandy which is a pretty good school, but ended up going to Stanford with little financial assistance because 'it was their dream school'. The brightest kids make these choices everyday, looking at the shiny object versus what makes the best financial sense and parents go along with it because 'its their dream'.
You say that they chose the most expensive school because they thought it would give them the best job. I call b.s. They chose the expensive school over a variety of capable options because it was their dream school and got tunnel vision. That poor choice is choosing luxury vs. practicality. I was one of those kids that looking back paid for that 'luxury' when I could have went to similar colleges nearby for half the price and had some good sizable loans as a result.