University Degree Worth $80,000 in Debt?

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Is a University Degree Worth $80,000 in Debt?

Young people go to college and they take out all this debt at a young age they don’t realize, the choices that they’re making. More importantly, what it is like to live with this amount of debt. If you become a doctor you could have two hundred thousand or a quarter-million dollars in debt.

What does that payment look like compared to your first-year salary? If you think you’re going to become a doctor and then hit the lottery, well, that’s just not how it works. Even if you go for a regular degree, you’re looking at sixty, seventy thousand dollars in loans that will crush your credit report. In some cases…if you go to Michigan State and the student pays their own way or get a loan for everything, Students wind up with a considerable debt.

Yeah, that’s very true.

That’s what we’re trying to do, get kids to realize that. If they go for a four-year degree and they are not really determined and haven’t really committed to what they want to do. They might be better off spending a couple years at Community College and live in with mom. So that’s something that I did my first year.
I went to Community College, my daughter went to a two-year Community College and she got her degree for less than what we spent for one year of high school, at a private school.

Oh wow!

Yeah. So she has a two-year degree which then can transfer anywhere. She hasn’t gone on for now, but that’s fine, She didn’t really know what she wanted to do. My advice is to go to Community College keep the brain working that way. I don’t know about you but at my age I don’t think I could go back.

I’ve seen a lot older than me they are older than me going to university.

It would be fun to go back and do that, I just don’t know if I could get my head around it. I struggled with tests, always study and then I get in there and not do as well as I think I should. One time I helped a roommate get through something and then I went to the test and got that thing wrong. I didn’t test well it was really traumatic for me to go through that. It was a traumatic experience for sure.

Oh, no. They test your psyche.

Yeah, for me specially.

Did you find that, did you study and did you take tests well, were you a good test taker?

I’ve always been real well with books School has never been a problem.

I Struggled, and I just never understood working so hard and not getting paid. There are things that I needed in my life and working that hard for nothing. Actually, to pay someone else to work that hard.

I bet if they paid you to take those tests…

I might do better? I don’t know. It depends on how much they paid me I guess…

Is a University Degree Worth $80,000 in Debt?

Is a University Degree Worth $80,000 in Debt?

Is a University Degree Worth $80,000 in Debt?

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One response to “University Degree Worth $80,000 in Debt?”

  1. Robert Bruce says:

    I know of a young man who is 24 who just graduated from university of Michigan in industrial engineering. He has well over $120,000 in student loan debt. He does have a good job at Walmart as a project manager in the IT department. But jobs like that do not even require a college degree to obtain. In addition He now has a house payment and a boat payment and credit cards. The student loan debt is very upsetting to him as he has colleagues about the same age doing the same job without all the debt

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