$100,000 in debt, has not graduated

[Langleyc05]

I was at a Wendy's the other day and a girl working there was giving me a few tips on the use of my droid tablet (I'm not a big user of Android yet)  and she was telling me she was in school to be a Pharmacy Tech but was  out this term and working to get money to go back to school. 

A woman who was sitting with her elderly parents seated near by spoke to us and explained that she was a Pharmacy Tech but now living in Pittsburgh, PA.    That she doesn't need to go to some School to get a degree or certification. She can buy a certain study book and spend about 4 months studying it and go to a testing center and pay $300 to sit for the test. (if she passes it she is certified)  Then she can go get a job.  This puts her free of 20 to 30k of student loan debt,  and in the market working without having to waste a couple of years being off the market.

The girl was floored by this.  She didn't have a clue that it was possible to do this.


[/quote]

She shouldn't even wait to be certified first. She should just apply at a major pharmacy like CVS or Walgreen.
I took a pharmacy tech course and took the certification test and passed! Only to discover that the pharmacies in my area didn't want to pay extra for the certified techs. They preferred to hire inexperienced people they could train (and pay less) However I admit that the number of places I could apply were very few since I have no car.

 

[Mobilesport]

In my opinion? It's because there is a feeling these days of entitlement and a belief that you are not responsible for whatever problem you get yourself into. $100,000 debt to work in a @25,000 per year job? Sure, no problem!

And a gofundme account? Geeeze.

I think this attitude came around right about the time they took dodgeball out of PE classes. Noone bails you out of getting smacked in the face with those pink balls

But there's all kind of propaganda telling you if you want to escape poverty you have to go to a good school and work hard and thats your ticket to financial freedom .
So she invests $100, 000 in her education convinced she going to get a good job and pay it off . She was conned.
When you get out of school reality sets in when you go apply for a job and all of the sudden there's much competition for that same job that pays a low wage.
These young people need to watch a Documentary called College conspiracy (Youtube)

 

[steamjam1]

Just read a news story about a woman (she's 24, not a "girl, " anymore) who racked up $100,000 in student loans so she could go to her dream school for 4 years. She's out of money, out of credit, and still a semester short. Her goal is to work for a non-profit org. She's started a gofundme account, to which I will not be contributing.

I hardly know what to say to this. Why was a community college not good enough for the first 2 years? Why did she think it was worth borrowing the equivalent of a mortgage so she could go work for low wages? As hard as I try to feel sympathy for her, I just keep asking "why?"

The millennium generation got screwed. I feel completely sorry for those young adults who got so far into debt to get that education only to find themselves unemployable at the end. I KNOW HOW THEY FEEL. I'm not a millennial, I'm Gen-X. I took out a bunch of university loans, went back to school in my late 30's HOPING to get ahead and got the degree. The problem? No one was hiring. I got screwed with 50K in debt, and I never left the Railroad I was desperately trying to leave.

 

[gcal]

But there's all kind of propaganda telling you if you want to escape poverty you have to go to a good school and work hard and thats your ticket to financial freedom .
So she invests $100, 000 in her education convinced she going to get a good job and pay it off . She was conned.
When you get out of school reality sets in when you go apply for a job and all of the sudden there's much competition for that same job that pays a low wage.
These young people need to watch a Documentary called College conspiracy (Youtube)

Maybe she was conned. Maybe she just did not do her homework and find out what the job she was aiming at would actually pay. Maybe she had some unrealistic ideas of why she had to go to a pricey 4 yr college for her first to years.

 

[gcal]

The millennium generation got screwed. I feel completely sorry for those young adults who got so far into debt to get that education only to find themselves unemployable at the end. I KNOW HOW THEY FEEL. I'm not a millennial, I'm Gen-X. I took out a bunch of university loans, went back to school in my late 30's HOPING to get ahead and got the degree. The problem? No one was hiring. I got screwed with 50K in debt, and I never left the Railroad I was desperately trying to leave.

Depends on what you were majoring and what the job market was. What was you major? I don't know of any math teachers or petroleum geologists who are out of work.

 

[Mobilesport]

Depends on what you were majoring and what the job market was. What was you major? I don't know of any math teachers or petroleum geologists who are out of work.

Yeah but after all that schooling how much do they make?
The buissness owners are  teamed up with other powerful people , some of these people control the television media , they can advertise fancy commercials ,,,, for example your poor and living paycheck to paycheck ?   Come to our school for a couple of years and when your done you can be like Lereoy ,, they pay leroy to give a testimonial about how his life sucked and how he was living paycheck to paycheck and driving a 1973 rust bucket Toyota that he had to park on a hill just to get it to pop start  but then luckily he saw a ad on tv about going back to there school so he gave it a try , he says look at me know dressed in flashy cloths and a new car , not a problem in the world , Leroy probably got paid $8 hr to star in the commercial ,, they dress him up and tell him what to say and then he probably went back to living paycheck to paycheck himself if he even has a job .
That very commercial caused the job market to become over saturated in that field of study , the end result ? The buissness owners got what they wanted , they got a huge supply of applicants applying for there job positions to where there HR just sits back and cherry picks the best applicants and offer them very low wage , these people end up taking the job and then getting a second part time job struggling to pay there debts
Click below for The college conspiracy full documentary YouTube video
https://www.google.com/url?sa=t&sou...J9lVthE9Mc3HlrleA&sig2=K-qW2zwo96HpJ5RINusljw

 

[gcal]

Yeah but after all that schooling how much do they make?
The buissness owners are  teamed up with other powerful people , some of these people control the television media , they can advertise fancy commercials ,,,, for example your poor and living paycheck to paycheck ?   Come to our school for a couple of years and when your done you can be like Lereoy ,, they pay leroy to give a testimonial about how his life sucked and how he was living paycheck to paycheck and driving a 1973 rust bucket Toyota that he had to park on a hill just to get it to pop start  but then luckily he saw a ad on tv about going back to there school so he gave it a try , he says look at me know dressed in flashy cloths and a new car , not a problem in the world , Leroy probably got paid $8 hr to star in the commercial ,, they dress him up and tell him what to say and then he probably went back to living paycheck to paycheck himself if he even has a job .
That very commercial caused the job market to become over saturated in that field of study , the end result ? The buissness owners got what they wanted , they got a huge supply of applicants applying for there job positions to where there HR just sits back and cherry picks the best applicants and offer them very low wage , these people end up taking the job and then getting a second part time job struggling to pay there debts
Click below for The college conspiracy full documentary YouTube video
https://www.google.com/url?sa=t&sou...J9lVthE9Mc3HlrleA&sig2=K-qW2zwo96HpJ5RINusljw

There is NOT a glut of math teachers, petroleum geologists or even pharmacists. Teachers are paid according to their education level and it varies. I personally know both a petroleum engineer and a pharmacist who left college and had multiple good job offers. The geologist chose one that started at about $70,000. The pharmacist started out at $105,000 with a company BMW. 

It is NOT the responsibility of the world to make sure that someone gets a good job in whatever field they want. If you are going to spend that much money on a product and never once investigate the job market, well, I don't know what to say about you that won't get censored. Would you spend $1000 on a van without checking it out?

Of course  businesses want the best! They are not idiots if they are successful. You would pick the best for your money, too. If you have chosen to major in a glutted, like law, and you are not in the top 10% of a status university, then work harder or switch majors. If you pick a low paying field, like preschool teaching or social work or working for a non-profit, then get used to living on Ramen noodles or change majors.

What else would you plunk down $50-100,000 for with no due diligence on your part to find out if the product is worth what you are paying?

 

[gcal]

There is NOT a glut of math teachers, petroleum geologists or even pharmacists. Teachers are paid according to their education level and it varies. I personally know both a petroleum engineer and a pharmacist who left college and had multiple good job offers. The geologist chose one that started at about $70,000. The pharmacist started out at $105,000 with a company BMW. 

It is NOT the responsibility of the world to make sure that someone gets a good job in whatever field they want. If you are going to spend that much money on a product and never once investigate the job market, well, I don't know what to say about you that won't get censored. Would you spend $1000 on a van without checking it out?

Of course  businesses want the best! They are not idiots if they are successful. You would pick the best for your money, too. If you have chosen to major in a glutted, like law, and you are not in the top 10% of a status university, then work harder or switch majors. If you pick a low paying field, like preschool teaching or social work or working for a non-profit, then get used to living on Ramen noodles or change majors.

What else would you plunk down $50-100,000 for with no due diligence on your part to find out if the product is worth what you are paying?

BTW, exactly what employers do you know of who are screaming for more Gender Studies, Sociology, Political Science, Communications, Law, and Journalism graduates? What they need and are trying to get are more STEM people.

 

[lambchopxoxo]

a friend of mine has 5 bachelors degrees, one in each area of science. hes a teacher. he makes less money than I do

my brother has a masters degree in chemistry ... unemployed

me? poli sci. gainfully employed.

 

[Optimistic Paranoid]

This pretty much covers it:

[video=youtube]

 

[IanC]

I don't blame young people. We were all ignorant and foolish and believed in tooth fairies at some point. I blame the universities that are so hungry for that government backed loan money that they encourage kids with no business in higher education to be there. Telling kids with GEDs that their diploma is equal to that of a full 12 year education is wrong. The vast majority - close to all - GED holders drop out within the first year in debt, and the school doesn't care. They already got paid and there's less kids in the lecture hall.

Plus , where are the guidance councilors pulling these kids aside and telling them "yes, dolphins are cute, but there's no jobs for marine biologists "

Just like I don't blame the people who got bad mortgages a few years back. When someone with little understanding of financial dealings is told, by a slick, Armani wearing huckster that "yes, they can get a nice home for cheaper than rent", and they have all the financial industry gobbledygook to bedazzle with, why wouldn't a simple person leap on it? People buy billions of dollars of phony supplements, they buy lottery tickets , they send money to Nigeria. Preying on gullible, simple people is evil, and it's no less so when a university does it.

 

[GotSmart]

It is even worse when they do not tell an older person that a fresh degree will not get you hired, as they do not want someone within 15 years of retirement.  :dodgy:

 

[ggwoman]

It is even worse when they do not tell an older person that a fresh degree will not get you hired, as they do not want someone within 15 years of retirement.  :dodgy:

After the economic debacle of 2007, many laid off people went back to get a useless online degree pushed by the fraudulent 'for profit' colleges like University of Phoenix, ITT, Corinthian etc. I know three who decided to get their masters in teaching with sorry results: no job offers and massive debt as they go into their retirement years. One is $130,000 in debt, another is $90,000. They will be losing 15% of their social security because there is no way to pay it off. They are working as subs in the school system now and both say they will work till they die. Sad.

 

[Mobilesport]

This pretty much covers it:

[video=youtube]

Yea right , You go any where in the world and its normal for young ADULT people to live with there parents , Asian countries , Africa , Mexico , the Majority of immigrants that come to the Uniited States live with there parents . 
But these young people in America have financial hardships and live with there parents for financial reasons and there considered losers . LOL  Just goes to show you how deep the brainwashing goes.

 

[thatchickinpa]

Just read a news story about a woman (she's 24, not a "girl, " anymore) who racked up $100,000 in student loans so she could go to her dream school for 4 years. She's out of money, out of credit, and still a semester short. Her goal is to work for a non-profit org. She's started a gofundme account, to which I will not be contributing.

I hardly know what to say to this. Why was a community college not good enough for the first 2 years? Why did she think it was worth borrowing the equivalent of a mortgage so she could go work for low wages? As hard as I try to feel sympathy for her, I just keep asking "why?"

Well, since I didn't read the article or personally talk to the 24 year old, it would be difficult to judge "why".

I racked up a large amount of student loan debt going to college and grad school. I really had no real world experience or knowledge of financial matters in general. My parents were of no help since they handle money poorly themselves. I signed my first promissory note for college at age 17 ... I honestly had no idea what I was getting myself into. Student loans are the only loans that allow a borrower with no credit, little working history, no proven ability to repay them to secure tens or hundreds of thousands of dollars. It's crazy, and very easy to rack up a lot of debt quickly.

But what I was told throughout my teen years - by pretty much everyone - was that to survive and get a "good" job with good pay and good benefits and stability, I had to goto college. And since I was in Engineering that when I graduated I would make money by the truckload, have no problem finding work and therefore could pay my loans off easily.

Yeah, it didn't work out quite like that. I graduated during an economic downturn that hit the hiring of entry level engineers very hard. Eventually I did get work and was able to pay off my debts, but it was no breeze. Many Americans have the belief that getting a degree is necessary and worth any price. I am often met with anger when I challenge it when talking to parents of college age kids or older adults returning to college. It is nice to believe in a panacea and that all worries can go away with a degree.

There are many reasons why people are leaving college with huge debts and often nothing to show for it - or a degree that doesn't help economically. It is just too reductive to state one reason as the cause. Sure there is a certain degree of entitlement, but there is a lot of naiveté and lack of life experience at play. Also, there is an entire industry around higher education, and it is quite lucrative. As a matter of fact, the town I live in employs about 80% of the working adults. Higher education does their best to propagate & sustain the belief that a degree is worth it - at any price.

 

[ArtW]

In those countries until recently those adults living with their parents contributed to the households, and many still do
The same can't be said of the millennial dropping 100k on a degree in liberal arts hoping to make their fortune in some vague idealized way
see the current demands to change the testing / grading system to allow them more time for 'social justice work' (stopping traffic on a public street keeping working stiffs from getting home from their jobs, pissing and moaning on the internet, etc) and demanding they actually get paid for it, if it's on campus
They were lied to, they'd have been much better off at trade school, but the jobs you get in the trades require you do actual work, and leave less time for being captain save the world from 1st world problems

 

[Mobilesport]

I know of several couples who are not only supporting themselves and an adult child but also adult grand kids who also have kids. How many generations should live with or be supported by their parents, grandparents,...? What will happen when the "provider" generation is gone? One couple I know has been living in the same little house since 1963 and still has a house payment because of second mortgages to support their offspring.

Guy

I agree if these young people aren't pulling there weight  Boot em , 
Big difference between young people moving in to there parents and mooching off of them and others that are invited in and all live like a family and help each other out.

 

[TMG51]

Ever priced the textbooks? That is a scam that should be investigated. No telling what collusion is going on between the book sellers and the schools.

Guy

I went to a community college. Community colleges are of course known for being cheap. Yet some courses had *mandatory* textbooks which were published by the school. These textbooks were literally just compilations of other old textbooks. One could have bought the used textbooks for $10-$20 themselves but instead the school would produce new versions each year and make them required at $200 per issue. Someone oughta be strung up by the balls for this sort of blatant scam.

 

[GotSmart]

I went to a community college. Community colleges are of course known for being cheap. Yet some courses had *mandatory* textbooks which were published by the school. These textbooks were literally just compilations of other old textbooks. One could have bought the used textbooks for $10-$20 themselves but instead the school would produce new versions each year and make them required at $200 per issue. Someone oughta be strung up by the balls for this sort of blatant scam.

When I went to college about 15 years ago, an expensive book was $65.  When I finished, they were $150.  At the end of the semester the option was to sell back the book for 1/3 price.  (If they were going to use them.)

When my daughter started, laptops were required, with specialized software, $1,200, and books were online for $20 each for a semester.

 

[IanC]

After the economic debacle of 2007, many laid off people went back to get a useless online degree pushed by the fraudulent 'for profit' colleges like University of Phoenix,  ITT, Corinthian etc.

What happened when the welfare laws changed and people could continue to collect after 2 years if they were in school. Schools sprung up all over offering degrees in things like 'Medical Transcription'. People signed up, got into debt and either didn't finish or finished to discover that medical transcrptionists have the same chance at finding a job as buggy whip makers.

On a similar topic I was reading that 60% of auto loans are sub prime. "Good credit ,no credit , bad credit - you can drive away in a car" (and your monthly payment will be just $450 for a shit box). You just know THAT is going to turn out well !