Im saving for three kids to go to college so Im very interested and somewhat confused. Is the premise that colleges are overcharging for tuition? With less loans written would tuition actually end up being less across the board? That only makes sense if a lot less people attended college and the college systems got smaller or somehow they got more efficient neither of which seem beneficial or plausable. Dont the lower socioeconomic need loans to compete with the more fortunate? Would tightening on lending be disproportionately hard on the poor and make college something that only the rich can afford? I took out loans to go to college and I think it was the wisest investment I ever made. It took me 10 years to pay them off but the experience I gained at college and the opportunity that my degree provided has had a huge return on investment. I just can not believe that obtaining a degree now is different. There seems to be more people competing for less jobs so unless somehow you could be considered better without a degree It just does not make sense. As far as the crash, that will only happen if policy changes and the Federal Government tightens lending or the rate of default or policy on default change. Currently, the Fed will get paid one way or another in the case of default. Not even bankruptcy protects you, and your subject to wage garnishment if you fail to pay. So I do agree that if your interested in a trade/profession that does not require a degree than yes absolutely forego college and the cost. However, if theres even the slightest interest in advanced education I would recommend that you go for it regardless the cost. One of the greatest regrets that I have is not going to a better school and not trying harder in HS and College. You only have one life to live and learning is never a bad thing.
Posted on: Mon, 29 Dec 2014 22:59:50 +0000
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