who has gone to school Gruaduated,and have a hardtime?

[Jorgen]

how are some of you guys coming out of school that loaded up with debt, for a "normal degree" (IE not MD or Lawyer or something of that sort)

Fuck I dont even want to be 50k in debt on a mortgage for a fucking house

Hell between my sister and her husband they were in something like $120k after both of their master degrees were complete. She doesn't even work at this point, it's fucking ridiculous to me. Their loan payment is higher than my mortgage.

But really pulling 50k in undergrad isn't tough since they let you finance out your housing and living expenses in addition to tuition. I had friends in college buying TV's, surround sound systems, modding cars etc with student loan money.

[Shangsta]

I have a few female friends that pursued masters degrees, graduated, and then worked for 1-2 years before becoming stay at home wives. I just cant comprehend why you would do that.

[Roysneon]

I have a few female friends that pursued masters degrees, graduated, and then worked for 1-2 years before becoming stay at home wives. I just cant comprehend why you would do that.

If it was their plan to not work it was obviously not about the money. I know I'd feel better being a stay at home husband knowing that I have some sort of degree. Keeps you from feeling like you're dependent on your partner in a social/economic sense. But as mentioned already in this thread a degree is not a job guarantee.

[Jorgen]

I have a few female friends that pursued masters degrees, graduated, and then worked for 1-2 years before becoming stay at home wives. I just cant comprehend why you would do that.

My Ex-Sister-In-Law graduated from Duke undergrad, went to University of Chicago for her MBA and Northwestern for Law School if she found the right guy her target was to quit working at least while they had kids under 15.

[ncsubowen]

23 Years old, graduating in May with a Finance degree. ~$50k in debt.

I have a full time job lined up with a large public accounting firm as a Business Advisory Services Associate (basically consulting). The job is very related to my area of study and I am very fortunate and happy to have it. My beginning salary will be in the low-mid $50s.

I hope with hard work and steady promotions and subsequent pay raises over the next 5-10 years I will easily be able to tackle my student debt.

Joe G - Big 4? You sound a lot like me - I took 3 years off between high school and college, because I wanted to be a history major and I realized that it was stupid to go to school for something that wouldn't get me a job. I have a Business IT Degree and now work Risk Assurance for a major firm in the area, with ~15k in debt and a salary in the same range as yours.

We're at a point where the "you have to go to college" generation has crossed with the "you can be anything you want to be" generation, and those kids are going to school to do things that they think they like (without ever having real-work experience in a related field), which means we're getting more and more people graduated with essentially worthless degrees. That also serves to dilute the power that a degree used to carry in the job market, so if you don't have one it's all but impossible to get hired for anything corporate regardless of experience and makes potential employers totally risk-averse when they interview candidates.

It's a messed up system and unfortunately there doesn't seem like there's a realistic resolution in sight.

[ncsubowen]

^
Yeah I know that, our entire generation is going to be slaves to the bank for more than the traditional home buyers debt....... I foresee a huge education loan default bubble going on in a couple more years.

My point was how can someone consciously take on that much debt willingly with no reasonable guarantee of being able to secure a means to pay it back. Not going to college was prolly one of the best decisions I have ever made. Even though I have considered it many times even in recent years, its just hard to shake that "training" you get all though your elementary/high school days from all angles

Problem is, you can't even discharge the loans like normal. Even if you file bankruptcy, they put you in forbearance, charge you interest, and as soon as you get a job start hitting you up again. And if for some reason you don't pay, unless your loan was through a private company (which is less and less common), it's backed by the government, so everyone else winds up paying for it.

*edit - Which is not to say that you should be looking for ways to discharge a debt you willingly took on. My point was more to the extent that unlike the housing bubble where banks were supposed to be liable for lending money that couldn't be repaid, the student loan bubble is much more entrenched in the government and banking institutions and therefore will be significantly more difficult to burst/more devastating if and when it does.

[Axxe]

Went to school for something useful (Civil Eng), ended up landing a job consulting for the mining industry straight out of school. My friends that took bullshit undergrads laughed at my high tuition, now they are bitter that I am making more than them. They drank through university, I had to work my ass off and pay more to get more. Investing into yourself is the best decision you can make, if of course you are investing into something useful. And that's the tricky bit, for me it was simple, good with math, good with problem solving, like to build big stuff. Now I design ground support systems for some of the worlds biggest active mines.

[slaterd]

This is how to do it. After high school, try to get an entry level job that is remotely close to the field you want to be in. The way the rules are now you are eligible for grants at 24 yo. Work in that field for 6 years...gain experience, move up in your company/field and then go to college for free. Get your degree, get your promotions, expand your field and be debt free. By the time you're 30 you should be where you would like to be WITHOUT A MOUNTAIN OF DEBT!!. Pretty much what I started doing but did it really late at 22 yo. So I have alot of experience in my area and I'll be going to school for free from now on majoring in business.

[flyboyx]

i graduated college in the mid 1990's. during that period of time, the job market was booming in the business sector. all of my friends that studied business or whatever, started their new jobs right out of college making around 60k. they laughed their asses off at me for spending all that money on an aviation career and starting off at my first job out of school making less than 20k. i remember being kind of pissed off that starting pay in my career field was so low.

with that said, as bad as the pay was, i always loved my job and what i do. in contrast, all my friends got married with mortgages, car payments, boat payments, bitching wives and kids, etc. they all fucking hate their jobs but are stuck because they need to pay for all the new crap they purchased and mistakenly thought would make them happy.

now days, i make more than they do and i am still ecstatically thrilled to go to work every day. they are absolutely miserable, divorced, paying alimony, and stuck in careers they hate.

just something to keep in mind while you are deciding what it is you want to do with your life. money sure the hell ain't everything.

[MF DOOM]

There is NO SUBSTITUTE for hard work period,


Nothing worth anything comes easy - Sleevs Grandpa.

:up:

Ive seen many people in our industry go from banking six figures a year to being completely unable to find a job because they got lazy. Doing stupid stuff like going on the rig floor in pajamas and and taking string measurements backwards. My company doesnt even look for degrees for most jobs. Experience the best teacher. Im currently in school but have paid my own way. so far and this whole year has cost under 4k. Ill be getting my associates in engineering for less than some people i know are spending on one semester. Its retarded. My community college is cheap but there still a scam portion of requirements. World music, PE, psychology, etc.

I havent taken any loans nor do I plan to. If I get accepted to a good Uni than theres a possibility of loans but I could score another MWD job after school if I needed to and pay it off quick. With useful degrees its all about ROI. It sucks that so many people want to do things that are quite honestly useless or there arent jobs for them. I would estimate and say that at least 30% of the kids at my school are either RN majors or elementary ed.

And I also really dislike most people at my school. College is not about a higher education as much as its about gang bangs and getting hammered. #yololyfe

[volvolover]

wow, can't beleive the high amounts of consumerism in this thread. Not only on education, but everything else.

When I met my gf, she had like 20g's to owe when we were done. After a couple years of had work (as a waitress) she was able to pay it off in no time.

I had a paltry 3-4 g's as I worked for the gov't on my summers off. I also livd at home and was able to buy my cars cash. My dad was amazed to find out I didn't owe a single penny to the bank for them.

I think it all boils down to hard work, and determination.

[mbonder]

I don't know that I would consider going to school consumerism. You could argue that some people choose more expensive schools than others, but usually going to a bigger name school equates to pulling a higher paying job because you went to that school.

You usually don't find people who go to a community college pulling 6 figures right out of school. You can find those frequently with people who come out of the Ivy league or big name schools. You can argue that situation is absurd (and I might agree with you to an extent), but there is a value to paying more to go to those schools.

I don't care where you go, especially graduate education, schooling is expensive. You can't get an MBA or a law degree without shelling out some money for it.

Not that I have anything against waitresses or people that have to work low skill jobs to pay for school or their living while in school, but the argument can be made that if your gf went to a better school, she wouldn't have had to become a waitress after school to pay it off, she'd have a higher paying job that would have made repayment a non-issue.


On an ancillary note: I do believe that the cost of higher education is going through a huge bubble right now, eventually there will be a point where costs can't rise more and schooling will become more affordable. I hope it comes before my kids get there!

[Pac1373]

:up:

Ive seen many people in our industry go from banking six figures a year to being completely unable to find a job because they got lazy. Doing stupid stuff like going on the rig floor in pajamas and and taking string measurements backwards. My company doesnt even look for degrees for most jobs. Experience the best teacher. Im currently in school but have paid my own way. so far and this whole year has cost under 4k. Ill be getting my associates in engineering for less than some people i know are spending on one semester. Its retarded. My community college is cheap but there still a scam portion of requirements. World music, PE, psychology, etc.

I havent taken any loans nor do I plan to. If I get accepted to a good Uni than theres a possibility of loans but I could score another MWD job after school if I needed to and pay it off quick. With useful degrees its all about ROI. It sucks that so many people want to do things that are quite honestly useless or there arent jobs for them. I would estimate and say that at least 30% of the kids at my school are either RN majors or elementary ed.

And I also really dislike most people at my school. College is not about a higher education as much as its about gang bangs and getting hammered. #yololyfe

Cripes, I am not sure what MWD hands in the U.S. make, but I know when I was rigging in 2000-2004 MDW was making more than Roughies or even Motorhands and I was doing $23 /hour working motors then, 12hour tours with anything over 8 hours at O.T. I mean I was pulling 2-4K a check depending on Sub and rotation. (70-80K per year, working 7 or so months)I can only Assume you would be making $150K + per year up here... I looked into MWD, but wife wanted me off the rigs into a "real job" (read 9-5) perhaps you should look north?

also, if any hand/service hand, came onto our rig floor in pajamas, you would likely get your ass handed to you, and a one way ticket off location...

[mrsleeve]

Yup have seen some guys in my indusrty get hired on, in this balls to the wall busy time, and go from flipping burgers wages to pushing 6 figures but are lazy as all hell, will not work at all once things slow up some. They are nothing but a seat warmer with a heart beat, and just filling a position.