RISK....is where it's at. It's not who studied most or worked harder. It many times falls on who has risked most...and I aint talking capital only...peace
What do you mean by "RISK"? It's only prudent to think of college expenses as being potentially "worth it"... like becoming a doctor, lawyer, or engineer. No REAL benefit to becoming an "indebted but educated" person with an arts degree. Then again, if you have LOTS of money and want to spend it getting a "feel good" degree... well it IS still America (for now) and you can spend your money any way you choose. But if you intend to go $150K into debt and be a debt slave to your college loans (or worse yet, "default because you can")... college wasn't really worth it. (No real benefit to "living in your educated memories" while you sweep the high school gymnasium.)
What is "risk"? the kid who drops out of college against his parents wishes and gets his allowance cut off to start something he has always wanted to do....that's one meaning.
I never said it was the answer. How can it be the answer when we have the highest percentage of college graduates, yet unemeployment is increasing, real wages are decreasing, and the ecomomy is in the crapper. You have yet to explain how more college degrees = bad economy. What I did say is that higher educated people do make more money compared to others. But that higher pay is much less than what it used to be. In 5 and 10 years, it will be even less. 30 and 50 years ago the middle class was at its strongest, yet very few of them were college educated. How can this be? Your logic doesnât make sense. Itâs funny how the past few posts have focused on the costs/rewards of college, yet you have been strangely silent. You have yet to tell everybody here how people should pay for all of this college you say they should get to make more money. You rail on people for not paying their debts, yet in order to make more money, you suggest more education, which inevitable means more debt. Your solution to the problem is the problem itself. Combine that with the fact that real wages are declining despite a higher educated population, and it seems the only ones getting rich with your philosophy are schools and the bankers financing everything. Seriously, you should run for Congress with that kind of logic.
Workers of the world unite. Default now and avoid the rush. All you have to lose is your current address!!
Four months after. Defaults on credit cards continue on a massive scale. I keep getting phone calls from my cc company. Bankruptcy is a daily business down here in Miami. Lawyers even finance you.
Education is good if it's good, relevant, informative, and also more importantly, makes you think and springs ideas. Education now is just take this information, rehash it back a couple of times (test), see how long you can remember it until the end, then go ahead and forget about it.
Six months = charge off. After that, calls should slow down as the debts are sold off to collection companies...at which point calls may pick up depending on which company handles the account. Settlement offers can still come in, or you could offer yours; may not be too "low" right now, but can be feasible.