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36% of young adults say their college debt wasn't worth it
#11
(09-14-2019, 07:28 AM)cookderosa Wrote: Is a degree worth getting?  Yes.  Is debt worth accumulating?  That's a personal position- in our home we do not believe in debt TODAY, however, that wasn't always the case, and I think this question mixes up the value of a degree with the presumption of college debt.  As if they are a package deal.

I'd be willing to bet 100% of the students who earned a degree with 0% debt would say it was worth it - and that's a much harder path than simply signing your name on a promissory note.

I totally agree.  Saying "it was worth it" doesn't necessarily mean "if I had to do this over again, I'd do it exactly the same way."  If they had found a way to get a degree without college debt, would that have been preferable?  Probably to many.
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#12
(09-13-2019, 10:42 PM)natshar Wrote: ... I was going to finish my degree online through TESU but I found amazing and unique opportunity to finish my degree in person in just a year. I will graduate in May with around 8k in debt (possibly less if I get more scholarships). But in my opinion, for me it is already worth it. There are so many things I access to that I wouldn't have access to if I did my degree at TESU.

You've gone into your debt choice with your eyes wide open, and I'm sure it will work out fine. The people who have problems are the ones who go into it blind and simply borrow money because they can. They think seem to think it will either just magically get paid back or that they won't have to.
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#13
(09-15-2019, 10:59 AM)davewill Wrote:
(09-13-2019, 10:42 PM)natshar Wrote: ... I was going to finish my degree online through TESU but I found amazing and unique opportunity to finish my degree in person in just a year. I will graduate in May with around 8k in debt (possibly less if I get more scholarships). But in my opinion, for me it is already worth it. There are so many things I access to that I wouldn't have access to if I did my degree at TESU.

You've gone into your debt choice with your eyes wide open, and I'm sure it will work out fine. The people who have problems are the ones who go into it blind and simply borrow money because they can. They think seem to think it will either just magically get paid back or that they won't have to.

That's an insult to blind people.  They are just STUPID.
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#14
I'll play devil's advocate on this one.

If 36% say that their college debt was not worth it, then maybe 64% say that it was worth it? That's not a terrible percentage.

Also, the survey asked people who were 18 to 34. That might not be the best age range to ask. People within that range presumably have the highest amount of debt because they are recent graduates, haven't paid much off and have yet to realize the benefits of increases in pay scale, etc.

Presumably, the numbers don't include those people who graduated from college without debt. Addition of those students would likely make the numbers more favorable in terms of the value of college.

The article also mentions that most of those surveyed said that they were "better off" because of their education. So there seems to be a sizable chunk of people who are better off, but say the debt wasn't worth it. That seems to be an ambivalent position that could change with some years and pay increases.
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#15
(09-15-2019, 01:33 PM)eriehiker Wrote: I'll play devil's advocate on this one.

If 36% say that their college debt was not worth it, then maybe 64% say that it was worth it?  That's not a terrible percentage.

Also, the survey asked people who were 18 to 34.  That might not be the best age range to ask.  People within that range presumably have the highest amount of debt because they are recent graduates, haven't paid much off and have yet to realize the benefits of increases in pay scale, etc.

Presumably, the numbers don't include those people who graduated from college without debt.  Addition of those students would likely make the numbers more favorable in terms of the value of college.

The article also mentions that most of those surveyed said that they were "better off" because of their education.  So there seems to be a sizable chunk of people who are better off, but say the debt wasn't worth it.  That seems to be an ambivalent position that could change with some years and pay increases.

I don't know why anyone under 25 would be surveyed.
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#16
(09-15-2019, 10:59 AM)davewill Wrote:
(09-13-2019, 10:42 PM)natshar Wrote: ... I was going to finish my degree online through TESU but I found amazing and unique opportunity to finish my degree in person in just a year. I will graduate in May with around 8k in debt (possibly less if I get more scholarships). But in my opinion, for me it is already worth it. There are so many things I access to that I wouldn't have access to if I did my degree at TESU.

You've gone into your debt choice with your eyes wide open, and I'm sure it will work out fine. The people who have problems are the ones who go into it blind and simply borrow money because they can. They think seem to think it will either just magically get paid back or that they won't have to.


Obviously. Even at community college, I saw all kinds of students being reckless with money because "student loans will pay for it." I knew a student who spent $50 more for a new textbook vs a used one (in excellent condition) because "I've got loans so why not?" and never opened the book. Students buying televisions, fancy apartments vs average ones, etc. Some people dont' understand the concept that loans must be paid back after graduation. Also, having a college degree does automatically give you a job.

I actually feel like for me personally, getting the debt is worth in a way because already I have access to things I wouldn't if I did online. Part of this includes access to internships, connections, etc. For me personally, since I don't know what I'm doing with my life, if I got my degree online I wouldn't know how to move forward. In just a week short weeks, I've already gained a sense of direction and an idea of what to do after graduation. I do not think I would have this direction online.

It helps that my dad owns his own business and I grew up with very financially responsible parents who taught me about living below my means and working hard to achieve my goals. I realize not everyone had this upbringing, but I feel confident after graduation I will be able to pay off my small amount of loans I will have.
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#17
(09-15-2019, 02:48 PM)sanantone Wrote:
(09-15-2019, 01:33 PM)eriehiker Wrote: I'll play devil's advocate on this one.

If 36% say that their college debt was not worth it, then maybe 64% say that it was worth it?  That's not a terrible percentage.

Also, the survey asked people who were 18 to 34.  That might not be the best age range to ask.  People within that range presumably have the highest amount of debt because they are recent graduates, haven't paid much off and have yet to realize the benefits of increases in pay scale, etc.

Presumably, the numbers don't include those people who graduated from college without debt.  Addition of those students would likely make the numbers more favorable in terms of the value of college.

The article also mentions that most of those surveyed said that they were "better off" because of their education.  So there seems to be a sizable chunk of people who are better off, but say the debt wasn't worth it.  That seems to be an ambivalent position that could change with some years and pay increases.

I don't know why anyone under 25 would be surveyed.


Now THAT'S funny Wink You're right. Having a 25-year-old son (who is really very savvy about money) doesn't have the life experience to feel burdened by debt and reflect on whether or not it was worth it.
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#18
(09-15-2019, 01:33 PM)eriehiker Wrote: I'll play devil's advocate on this one.

If 36% say that their college debt was not worth it, then maybe 64% say that it was worth it?  That's not a terrible percentage.

Also, the survey asked people who were 18 to 34.  That might not be the best age range to ask.  People within that range presumably have the highest amount of debt because they are recent graduates, haven't paid much off and have yet to realize the benefits of increases in pay scale, etc.

Presumably, the numbers don't include those people who graduated from college without debt.  Addition of those students would likely make the numbers more favorable in terms of the value of college.

The article also mentions that most of those surveyed said that they were "better off" because of their education.  So there seems to be a sizable chunk of people who are better off, but say the debt wasn't worth it.  That seems to be an ambivalent position that could change with some years and pay increases.

I 100% disagree. In my generation, a BS was the ticket.  Today it is a High School Diploma. Sad
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#19
(09-15-2019, 09:25 PM)cookderosa Wrote:
(09-15-2019, 02:48 PM)sanantone Wrote:
(09-15-2019, 01:33 PM)eriehiker Wrote: I'll play devil's advocate on this one.

If 36% say that their college debt was not worth it, then maybe 64% say that it was worth it?  That's not a terrible percentage.

Also, the survey asked people who were 18 to 34.  That might not be the best age range to ask.  People within that range presumably have the highest amount of debt because they are recent graduates, haven't paid much off and have yet to realize the benefits of increases in pay scale, etc.

Presumably, the numbers don't include those people who graduated from college without debt.  Addition of those students would likely make the numbers more favorable in terms of the value of college.

The article also mentions that most of those surveyed said that they were "better off" because of their education.  So there seems to be a sizable chunk of people who are better off, but say the debt wasn't worth it.  That seems to be an ambivalent position that could change with some years and pay increases.

I don't know why anyone under 25 would be surveyed.


Now THAT'S funny Wink  You're right.  Having a 25-year-old son (who is really very savvy about money) doesn't have the life experience to feel burdened by debt and reflect on whether or not it was worth it.

After graduating, it can take a couple of years to find a good job. I wouldn't think there would be very many college graduates under the age of 22 anyway.
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