Many have criticized the level of educational debt and employment opportunities for new grads and even those with years of experience. However I have a different personal perspective. I come from Cuba, a third world communist country. There only a privileged few get to go to college. A must requirement is to be politically supporter and loyal to the regime. A small minority, those with an equivalent of 3.90 or higher can be very competitive. My GPA ranks between 3.3 and 3.5 and I never affiliated myself to any government political organization. Therefore, the fate of my college education was sealed. Still when I came to the US in 2000 at age 16 I thought only the rich could afford college, but as I approached graduation I learned otherwise. At this very moment I have an MBA in Finance, a BS in Economics. I love the education I have received, today I am a Senior Accountant on which position and employ a great deal of knowledge I acquired during my college years. The current crisis has left me with few employment opportunities. I make less than 40K a year and I have to pay a debt of 100K. During the last 6 months I have tried unsuccessfully to find a job paying me at least 50K annually but it has been disappointing. So I decided to give myself a short and long run solution. I am going back to school. This august I begin my Masters in Accounting at FIU. Hopefully, my new knowledge will help me to find better job opportunities (which employer respect even while you are going to school), and I will defer my student loan payments which are over 1/3 of what I make right now. Different from many guys here, I look to the future with hope, always with hope of a better future and I do everything in my power to better myself and my family (something you are very limited to do in a third world communist country). I will be always in debt to this country which gave me a home and endless opportunities. God Bless you all.
You have an MBA and you can not find a job paying more than $50K??? What is wrong with this picture? You either don't have a green card or something is wrong with your resume. Which city do you live in? Hope, you are not making $40K in NY.
Student loans are easy to get. Little or no "pre-thought" required nor given to their worth. Most would be better served to attend a state college where tuition is comparatively low... leaving the out-of-state and "exclusive" colleges to those with deep pockets or where the family and student have determined in advance that such an expense was likely "worth it"... The American college education/student loan situation is more a financial scam than not.
You said you are already in $100K student debt and you want to go back to university to add more to that? It's just not a financially sound idea.
I have a hard time feeling sympathy for college grads saddled with loans. Not only did my parents not pay my way through college, I was booted out of the house 1 week after graduation from HS.... "You're 18 now. Time to make your own way in the world", I was told. Sort of like having to learn to swim by being thrown into the deep end of the pool... Grandpa used to tell me, "The world doesn't owe you a living... make something of yourself". Good advice for ALL Americans. Any wonder why I feel contempt for the whiny-ass, parasitic, tit-sucking, "woe is me" Left? NOBODY IS "ENTITLED" TO SHIT!... EXCEPT WHAT THEY EARN FOR THEMSELF!..
I hate this statement Right now, You feel good about your own situation, which is just an illusion, but at the same time there are many other immigrants like you who don't share your views. Watch this please: http://www.youtube.com/watch?v=UGdvv4dwzIA
I am surprised at all the harsh replies. He has the student debt but got a useable degree and prospects to pay it off. This story is a reminder that opportunities in the US are still above and beyond many other countries. But continue down the road of socialism, and one day we will be like Cuba.
My GF thinks going back to get her masters is the solution too but I think the whole system is a sham. You need to be specialized in one area, something you love, and do it better than anyone else. If you have a clear cut plan to be a CPA , Nurse, Teacher or whatever then fine go to college and specialize in that one thing with a clear plan. While in school you should be at an internship for the field you want to go in. If you can't find an internship in the field you want then you won't find a job in it either. Choose your trade wisely.