Debt

Methshot
Methshot

What are your thoughts on debt? Is it worth going into debt to get a college degree?

All urls found in this thread:
http://www.cnbc.com/2016/05/16/college-grads-enjoy-the-best-job-market-in-years.html
http://www.studentsreview.com/unemployment_by_major.php3
TreeEater
TreeEater

@Methshot
lol , hell no.
i don't even think its worth the time cost basis .

Carnalpleasure
Carnalpleasure

@Methshot

lmao
no

Emberburn
Emberburn

@Methshot
Yes. Provided your degree leads to employment that pays more than you could have gotten without it and your debt isn't insane.

Emberfire
Emberfire

@Emberburn
What degrees?

Evilember
Evilember

@Emberfire
computer science or computer engineering

Flameblow
Flameblow

forget college

Kneepads is where its at

TalkBomber
TalkBomber

@Methshot
Is it worth going into debt to get a college degree?
If you play your cards right, yes. College is worth as much as you put into it, meaning you can easily get yourself a decent-ish job with fairly low debt if you do things right.

It's basically betting on yourself - you're assuming that the education and opportunities will net you a better life in the future. If you're a lazy fuckup, that's obviously not gonna happen.

ZeroReborn
ZeroReborn

@TalkBomber
Is it a reasonable risk? How many college graduates find a career using their college degree?

CodeBuns
CodeBuns

When you have no debt, you're in a position to take on risk. When you're a wage slave, you're earning reliable living security at the expense of being able to execute any risk taking for a meaningful income (one where you can actually save a portion and have retirement savings), unless you plan on quitting your wage slave job and risk for something greater. The best way to make money is to run a profitable business, or second best is to divide your expenses with a partner, while spending less than you earn, always. If you do school, I'd recommend that you ensure it's tied to a post-graduate employment guarantee. Because too many accredited scholars nowadays are working McJobs, and that shouldn't be what you envision when you are starting school. Statistically, and realistically speaking, school is overrated and not as highly tied to economic success as many people think, even though there are exceptions, occasionally. You gotta hustle and roll with the punches, and consider moving if the economics in your land are shit.

Nojokur
Nojokur

@ZeroReborn
Is it a reasonable risk? How many college graduates find a career using their college degree?
Depends on the college, degree, etc. That's a topic that's so endlessly debated it gets kinda insane.

But if we're talking broadly: there SEEMS to be a growth in hiring recently, which may in part have to do with the shuttering of for-profit scam universities:
http://www.cnbc.com/2016/05/16/college-grads-enjoy-the-best-job-market-in-years.html
the unemployment rate among those over age 25 with a bachelor's degree or higher is at 2.4 percent, less than half the overall rate of 5 percent

BUT:
To that point, 51 percent of graduates from the classes of 2014 and 2015 said they are working in jobs that do not require their college degree, up from 49 percent of graduates who reported the same the year before that.

Need_TLC
Need_TLC

@Nojokur
computer science or computer engineering degree

Skullbone
Skullbone

@Methshot
What are your thoughts on debt?
it's shit
Is it worth going into debt to get a college degree?
maybe

i have student loans and no degree now that's stupid.

SniperGod
SniperGod

@Need_TLC
im a comp science degree, hell no. not worth it unless you do stellar at the top tier school and get an amazing job at google or something to be able to pay back the debt in reasonable time.

SniperWish
SniperWish

Only after completing your first two years at a community college and exhausting every opportunity for credit-by-exam that you possibly can fit into your degree program. Unless you have done those things first, the answer is objectively no.

BlogWobbles
BlogWobbles

@TreeEater
hell no.
@Carnalpleasure
lmao
no
Kek. pic related. Stay poor.

@Nojokur
51 percent of graduates from the classes of 2014 and 2015 said they are working in jobs that do not require their college degree
Stop thinking short term. Young people aren't worth a lot in the labor market, regardless of their education level. Stop deluding yourself that you're worth more than you are.

It's later in life when your poor choices will come back to haunt you.

RumChicken
RumChicken

@SniperGod
why don't any of you fags go to eastern eu for a degree. you could pay for it from your pockets (like we are talking about 5k for a comps sci degree) there are english courses at every uni and it's cheap living too. the degrees are fine accepted everywhere unless you pick a shit uni.

VisualMaster
VisualMaster

@SniperWish
Id like to add to this. Clep and the like aren't accepted by all schools so make sure before you start dropping your hours into studying. Additionally there not really any incentive to test out of courses that aren't required by your degree, unless you're doing some minor thing. It's mostly for avoiding the time and expense of the mandatory low level core classes ( sociology 101, stat, etc)

AwesomeTucker
AwesomeTucker

@Need_TLC
Look here, for starters:
http://www.studentsreview.com/unemployment_by_major.php3

The unemployment rate of computer engineers is marginally less than that of other degrees, which isn't a surprise - they're more useful than English majors, for example - but the market is definitely slowing down and a lot of the market is being sent to foreign countries.

With that said, you should pick a useful major you're passionate about and won't mind grinding at. If you do well in virtually any major, you can make a living.

@BlogWobbles
Oh, don't get me wrong, I don't disagree with you whatsoever. I'm actually paying out-of-pocket for two more degrees right now, albeit for fun. I mentioned that statistic because it's important to note that you can't expect to get a certain kind of job just because you have a certain kind of degree.

But yeah, that chart you posted is phenomenal, and makes a great point: investing in yourself generally pays off. I'd rather go into debt now (in my 20s, unmarried, etc.) than play it "safe"/"frugal" and end up underwhelming.

CodeBuns
CodeBuns

@BlogWobbles
a complete false chart. you should compare net pay only. 60% of people with bachelors or higher do not find job at their field, they end up doing same jobs people with no degree anyhow. only 8 years later.

it's good to get degree if you dont like working too much and prefer unemployment over minimum wage shit jobs but the lifetime net pay will be prolly much worse than just working

Fuzzy_Logic
Fuzzy_Logic

I would try to get as little as possible, a friend of mine cash flowed his education and he is doing OK.

If I had to do it again, with the same resources inwould have
cash flowed 2 years at community college
small debt for state school

Looking back I left a lot of miney on the table via scholarships.

Lying about having a degree is one of the harder lies on a resume...no source for that one, who would do such a thing...

Nojokur
Nojokur

@CodeBuns
a complete false chart
You can stay in denial all you want, but facts are facts. You're one of those Millennials who think they should jump straight into the executive suite.

You want the lifestyle of your parents? Then put in the same effort and time they did to make it there, faggot.

Supergrass
Supergrass

@VisualMaster
Additionally, you probably want to prioritize avoiding that sociology class unless you're particularly good at aping leftist thought. There's no room for contention in those classes, especially if you're
a fucking white male!

Raving_Cute
Raving_Cute

@RumChicken
Grew up in america, went to college in India, came back to work after college in america. My degree cost me 6K. my friends who went to college in america are now >200K in debt for the same degree and work the same job.

:)

Booteefool
Booteefool

@Raving_Cute

Why call them friends at all if you're celebrating their misery?

Sir_Gallonhead
Sir_Gallonhead

@Raving_Cute

Designated
same degree

Inmate
Inmate

@Raving_Cute
india is a bit extreme tho unless you are into the oppressive heat and the culture.
eastern eu is good choice if you want to spend your formative years among white people. young ones almost all learn english older ones and in the rural areas it's hopeless tho.

Gigastrength
Gigastrength

@Methshot
Debt is good for real estate and such. You know, stuff that makes you more money later on.

No way is it worth the risk losing it all for a college degree that you might fail.
Face it, the pay once graduated isn't that much higher anyway, given you can actually land a job.

BlogWobbles
BlogWobbles

@Gigastrength
stuff that makes you more money
that's rarely real estate unless you buy a hotel or a plaza. renting out homes in most cases allows you not to lose money on a vacated home long term. only in special circumstances does it worth it. basically you have to get lucky.

Garbage Can Lid
Garbage Can Lid

Some debit is better than others. Going into debt for college is fine as long as it's treated as an investment.

That is to say if you go to college to study bullshit you'll end up like 51 percent of graduates from the classes of 2014 and 2015 said they are working in jobs that do not require their college degree.

But if you study something that allows to meet a targeted need in the market, something where you wouldn't be able to get that particular job without your degree, than yes, it is absolute worth it.

Soft_member
Soft_member

@Inmate
eastern eu is good choice
I'd hire someone with a community college degree over someone with a foreign degree of any type outside of England or Germany. I only trust countries with reliable education standards.

And before you prattle on about how the incredible education at Eastern Slavistan University and how, in some ways, it's better than the U.S., just stop. I don't care, and you're not convincing anyone.

Evil_kitten
Evil_kitten

@BlogWobbles
Sometimes you have to help luck a little by bribing government officials, pal.

Best advice you ever had.

hairygrape
hairygrape

@Soft_member
And before you prattle on about how the incredible education at Eastern Slavistan University and how, in some ways, it's better than the U.S., just stop. I don't care, and you're not convincing anyone.
ignorant and proud of it.
true american indeed.

i'm not saying better i'm saying good enough and accepted enough especially for tenth the cost.

Snarelure
Snarelure

@Gigastrength
I totally agree with this guy. The right debt can make you very wealthy

BinaryMan
BinaryMan

@Gigastrength
No way is it worth the risk losing it all for a college degree that you might fail.
The only people who flunk out of college are those that never should have been there in the first place. If you're not smart enough for college, then just go another route, like a trade or the military. But don't condemn college just because you're not cut out for it.

the pay once graduated isn't that much higher anyway
So you're just an idiot who can't see more than two inches in front of his face. Look at the chart (@BlogWobbles
). Like other stable and reliable forms of investment, a college education pays off down the road. You just have to have the patience and discipline to make it work.

Bidwell
Bidwell

@BinaryMan
Yeah.....

Deadlyinx
Deadlyinx

@SniperGod
you must be a fucking retard
I got a 3.0 GPA (computer science) and my job paid for my tuition in 1 year and that's along with rent other bills and 100$ a week at bars and eating out

StrangeWizard
StrangeWizard

@Methshot
College debt is not even an issue. If you are under 25 Learn a trade, Go to college, or if you are a gifted individual start a business. Any other decision is completely stupid and you will be poor forever.

Gigastrength
Gigastrength

@Raving_Cute
Did your Uni have restrooms are did you just shit in the street/class?

5mileys
5mileys

Depends on the debt and career. Going $30k in debt and getting a six figure starting job as an engineer is great. If you'll make $25k starting as a primary school teacher even taking out $10k seems insane.

If my dad wasn't paying my college out of pocket I'd be working a trade or an hero.

t. CS major at expensive private uni

Carnalpleasure
Carnalpleasure

@Methshot
Unfortunately, I think we're at the point in the US where a college degree is worth taking on debt but not the amount of debt that's required.

Unless you're Chad/Stacy, the first question out of any interviewer's mouth is going to be "do you have a degree?" and responding with "no" effectively ends the interview. Your chances are slightly better if interviewing with somebody non-HR who actually knows the job and can understand how your experience/projects apply but it's still an uphill fight.

But, even if you have the degree, the pay is probably shit relative to loan repayments. If you make $500/month flipping burgers with no debt, and $1000 at this job with a $500 loan bill for 20 years, are you really better off?

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