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Madison MoneySports - Personal Finance Thread
#58
The thing about college is that a lot of people think about it rather crudely. "You have to go to college to get a good job." "College is the minimum." "If you don't go to college you're gonna be poor/broke." It reminds of how before 2008 most people would say, "Real estate is always a good investment." or "Renting is wasting money." A lot of those people lost their asses.

Truth is that college has to be viewed pragmatically to determine whether it makes sense for the individual and the lifestyle they want to lead. If someone wants to enter a profession that doesn't pay very well and has limited lifetime earning potential but requires a degree, fine. But that person absolutely should not take out $80k of student loan debt to get a private university education. People have to be realistic about their profession and earning potential. It doesn't make sense to spend a ton of money on college just so you can be underpaid and under crushing student loan debt for most of your life. Maybe your first love isn't accounting or computer science or nursing but life is a lot easier and happier when you can pay the bills. Study art history in your free time if the honest financial outlook isn't ideal.

If you're going to college to get a degree in a field that will allow you to pay off any student loans on a reasonable timescale and you commit to earning that degree then you'll be fine.

For other people, going to college doesn't make sense at all. Vocational training or the military might be a better fit.
2018 Ducati Panigale V4

Past: 2018 Honda Civic Type-R, 2015 Yamaha R1, 2009 BMW M3, 2013 Aprilia RSV4R, 2006 Honda Ridgeline, 2006 Porsche Cayman S, 2012 Ducati 1199, 2009 Subaru WRX, 2008 CBR1000RR, 2009 Kawasaki ZX-6R, 2000 Toyota Tundra, 2005 Honda CBR600RR, 1996 Acura Integra GS-R, 1996 Acura Integra GS-R, 1997 Honda Civic EX

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