I just read through this article of the top ranked colleges. It lists the price of a degree and how much, on average, they make starting out in their new career. You can read it here.
So much of what you see is degrees costing anywhere from about $90,000 to $192,000 with earnings starting from approximately $45,000 to $73,000. Most are in the $50,000 range, particularly the schools which cost over $150,000. WHY?! Why, why, oh why would you ever pay almost $200,000 for a freaking UNDERGRADUATE DEGREE!? What is wrong with people? I don’t care how rich your parents are, that is just absurd. And then you only make $50,000 per year? So, if you live at home with your parents like a loser at twenty-three years old (because many people take five years to complete this insanely expensive venture) you can maybe pay off your student loans in four years if you literally spend money on nothing else. Which is unrealistic.
I thought David’s loans were expensive, but if we had almost $200,000 in debt going into our marriage, that would be soul crushing. How can you even think about moving forward in life with that much money hanging over your head?
Well, it’s probably because debt isn’t “real.” It’s not a tangible thing that you have to deal with on a daily basis. You ask for the large sum of money, and you get it. No real questions asked, other than your parents’ tax information. It’s like pretend monopoly money. You go through college never thinking twice about it. And then people graduate. And then they realize that, oh shit! I didn’t actually learn anything of value in college except how to write a twenty-five page research paper. Well, darn. That doesn’t put people very far ahead of the competition.
This is a slippery slope that is dangerous for our economy and people of my generation. I can’t even imagine what going to university will be like in eighteen years when Hazel is ready.
© Carli Garrison and cllgarrison, 2014.