In the U.S., the most recent average student loan debt for graduating college seniors was $28k or $29k, depending on whose statistics you believe..While it is possible to amass over $100k, fewer than 2% do, almost all for business or medical school.
The facts are bad enough without creating a wildly exaggerated impression..Though I imagine a Zonker might be able to run up a huge total, give enough years..So, 4 years of college leaves most kids in as much debt as a typical new Accord or Camry..It is worse debt, true. No-one talks about its cause: college/university administrators who:- Pay themselves and other administrators much more than teaching faculty, even when they have no qualifications.- Keep creating more (non-teaching) administrative positions- Build ever more extravagant facilities for students, since rising enrollment helps justify their salaries..And the federal government is happy to be their enabler by making loans they don’t really understand to young people who have never been out in the “real world.” .Also, everyone from the President (former college teacher, big surprise) on down is selling the “you need to go to college” nonsense. Jobs that require a college diploma are much easier to outsource or make obsolete than ones that don’t: after thousands of years, we still need carpenters. And there are HVAC technicians, electricians, plumbers and auto repair techs. It’s very hard to think of a college-degree career that can’t be outsourced or made obsolete (usually by software)..Anyone in a career today that doesn’t involve working hands-on is playing beat-the-clock, to see if they can retire before their job is either done in Asia for $2/hour or made obsolete entirely.
Sorry to inject a fact or two. but here goes:
In the U.S., the most recent average student loan debt for graduating college seniors was $28k or $29k, depending on whose statistics you believe..While it is possible to amass over $100k, fewer than 2% do, almost all for business or medical school.
The facts are bad enough without creating a wildly exaggerated impression..Though I imagine a Zonker might be able to run up a huge total, give enough years..So, 4 years of college leaves most kids in as much debt as a typical new Accord or Camry..It is worse debt, true. No-one talks about its cause: college/university administrators who:- Pay themselves and other administrators much more than teaching faculty, even when they have no qualifications.- Keep creating more (non-teaching) administrative positions- Build ever more extravagant facilities for students, since rising enrollment helps justify their salaries..And the federal government is happy to be their enabler by making loans they don’t really understand to young people who have never been out in the “real world.” .Also, everyone from the President (former college teacher, big surprise) on down is selling the “you need to go to college” nonsense. Jobs that require a college diploma are much easier to outsource or make obsolete than ones that don’t: after thousands of years, we still need carpenters. And there are HVAC technicians, electricians, plumbers and auto repair techs. It’s very hard to think of a college-degree career that can’t be outsourced or made obsolete (usually by software)..Anyone in a career today that doesn’t involve working hands-on is playing beat-the-clock, to see if they can retire before their job is either done in Asia for $2/hour or made obsolete entirely.