If you have kids now. save 500K for college.

[piasabird]

Tell kids to fend for themselves.

 

[exdeath]

Smart people get jobs that pay for college.

 

[OverVolt]

Unless we have hyperinflation, if tuition is 500k 20 years from now, no one will go.

Why? Because you can basically learn everything on the internet nowadays. Imagine what you could learn 20 years from now. Hell, I'd argue kids don't need to go to college to get a job now. They can learn everything taking courses and reading online. Minus a few majors, college now is just a baby sitting service to make students study.

There is this little thing called accreditation... :awe:

I agree its bullshit but ya know.

 

[Saint Nick]

It's sad the cost of tutition. Every single year colleges raise their tuitions for no real reason other than that they can.

I'm already not excited to pay my gfs med school loans when they come due. Couldn't imagine what they will be in 20 years. Thankfully she's already said I can quit me job and stay at home . Though ill keep working and pay the loans off and house off before I quit for good

I think it's pathetic that you are going to pay for your girlfriend's medical school loans.

 

[OutHouse]

if i saved up half a million bucks it sure aint going to my kids college.

 

[OutHouse]

You mean like $200 oil in 2007 and houses that always go up in price. Nothing rises forever. College tuition absolutely positively cannot keep its 400% over inflation price increases for that long.

and what is going to stop it?

 

[ss284]

Smart people get scholarships that pay for college.

Fixed.

Edit: Wanted to add that I was stupid and received no scholarships

 

[Hugo Drax]

Unless we have hyperinflation, if tuition is 500k 20 years from now, no one will go.

Why? Because you can basically learn everything on the internet nowadays. Imagine what you could learn 20 years from now. Hell, I'd argue kids don't need to go to college to get a job now. They can learn everything taking courses and reading online. Minus a few majors, college now is just a baby sitting service to make students study.

Wrong. A college degree is the equivalent of a Medallion in order to own a yellow cab in NY. A College degree is a work permit, no degree the HR system will shred your resume.

So just like people pay 100K to1 Million dollars for a Medallion. American youth will be borrowing 500K in the future to get the Work permit so they can access the American workplace.

As long as the infinite money press runs and the loans are treated unlike any other loan in the US. The prices will continue to skyrocket.

 

[Zaap]

There is this little thing called accreditation... :awe:

I agree its bullshit but ya know.

Yes, but what if eventually things shift to where that doesn't mean much? (Obviously not in critical occupations like being a doctor, but in other types of fields)

I already see it in the entertainment business that I work in. There's often two tiers of people that come in for jobs:

1. the college 'educated' type that often spent their college years going through the motions, partying it up, being indoctrinated in some useless way or other, and now carrying a mountain of debt on his/her shoulders. It's a toss up that they may/may not have learned the necessary skills needed to do the jobs available. A lot of times these types have one burning motivation: sit and twiddle their thumbs, collect a paycheck, and maybe make a dent in that debt mountain.

2. The self-taught enthusiast or 'geek' that spent his/her every waking hour since age 12 learning Maya inside and out, or learning how to draw their ass off, or learning how to edit video or use a camera so well they can achieve the look of any film they ever saw, or producing their own music... etc. etc.
A lot of times these types have one burning motivation: create some awesome shit!

Who's more valuable to my entertainment company? What the hell good is the college type's accreditation if they don't have the self-taught geek's desire, skills and passion for the job? The best person for any given job would be the one who demonstrates the most real world skill and can get things done and even lives/breathes the minutia of the creative process. I've personally seen it time and time again: the self-taught enthusiast will beat out the college-type trying to get by on a piece of overpriced paper virtually every time.

That's just my industry though- may or may not be true in other industries, but I bet there are many that are similar.

 

[stlc8tr]

Unless we have hyperinflation, if tuition is 500k 20 years from now, no one will go.

~4% inflation is hyperinflation?

 

[bignateyk]

In other words, part of the US will be third world, the other part first world.

Fewer middle class families will be able to send their kids to college, which will further a slide into poverty.

...or once it gets too expensive and enrollment starts to plummet, the universities will be forced to start reducing tuition.

It's called supply and demand. Colleges have been artificially raising tuition for years because of government subsidized/guaranteed loans.

 

[OutHouse]

It's called supply and demand. Colleges have been artificially raising tuition for years because of government subsidized/guaranteed loans.

yup, the gravy train is rolling full speed.

 

[sm625]

It's complete and total insanity. Even at today's costs its stupidly insane. If you bought a $100K chunk of pimco total return 10 years ago you'd be sitting on $216K right now. But if you instead spent that money on a child's college education they would have

a) A useless degree that most likely wont even get them a job
b) A whole lot of useless and hazy memories of partying

Why in the frack would anyone do that? Duh, because they obviously cant do math. Instead of "investing" in the government infested college education racket, you just put your $100K in pimco and use half the returns to grow at 4% and the other half to pay the child's living expenses. You give them that money, which is about $300 a month, they work a minimum wage job or they go on welfare for even more. After 30 years that $100K is worth $330K and at that point the child can retire and live off the $2200 a month in interest earned. Plus they should have at least a very modest 401K, even if its just $20 a month contributed that ends up being worth tens of thousands at retirement. So you work a crappy job for 30 years. Big frickin deal. The rest of your life is yours to do with what you will. Why the hell would anyone want to trade that for a useless piece of paper and a worthless education provided by deeply corrupt institutions? Not to mention the debt treadmill and all that spiritually void nonsense that it entails.

 

[IGBT]

for most people getting married / kids is simply the next thing to do in their lives..with no thought to the economic consequences they have hanging over their heads for the rest of their lives and the more then likely probability they will get divorced pay child support / alimony / deal with emotionally damaged kids / criminal and drug behavior / kids that end up living at home into their 30's or beyond. Good luck to ya.

 

[mikegg]

Yes, but what if eventually things shift to where that doesn't mean much? (Obviously not in critical occupations like being a doctor, but in other types of fields)

I already see it in the entertainment business that I work in. There's often two tiers of people that come in for jobs:

1. the college 'educated' type that often spent their college years going through the motions, partying it up, being indoctrinated in some useless way or other, and now carrying a mountain of debt on his/her shoulders. It's a toss up that they may/may not have learned the necessary skills needed to do the jobs available. A lot of times these types have one burning motivation: sit and twiddle their thumbs, collect a paycheck, and maybe make a dent in that debt mountain.

2. The self-taught enthusiast or 'geek' that spent his/her every waking hour since age 12 learning Maya inside and out, or learning how to draw their ass off, or learning how to edit video or use a camera so well they can achieve the look of any film they ever saw, or producing their own music... etc. etc.
A lot of times these types have one burning motivation: create some awesome shit!

Who's more valuable to my entertainment company? What the hell good is the college type's accreditation if they don't have the self-taught geek's desire, skills and passion for the job? The best person for any given job would be the one who demonstrates the most real world skill and can get things done and even lives/breathes the minutia of the creative process. I've personally seen it time and time again: the self-taught enthusiast will beat out the college-type trying to get by on a piece of overpriced paper virtually every time.

That's just my industry though- may or may not be true in other industries, but I bet there are many that are similar.

+10000

In my industry, a college degree doesn't mean anything. I'm a manager and I got this job because I learned skills on my own time, not from my college courses. I didn't even officially graduate from college. I have 1 credit left.

I will always hire the person who's done projects on his own. It shows that they are passionate and they can learn on their own.

 

[mikegg]

Wrong. A college degree is the equivalent of a Medallion in order to own a yellow cab in NY. A College degree is a work permit, no degree the HR system will shred your resume.

So just like people pay 100K to1 Million dollars for a Medallion. American youth will be borrowing 500K in the future to get the Work permit so they can access the American workplace.

As long as the infinite money press runs and the loans are treated unlike any other loan in the US. The prices will continue to skyrocket.

Wrong. You can easily find a GREAT job without going to college.

For example, if you learned programming, software development for 4 years on your own, I guarantee you, you will find an excellent paying job immediately.

I'm 24 years old. I make over 100k. I didn't finish college.

 

[Doppel]

for most people getting married / kids is simply the next thing to do in their lives..with no thought to the economic consequences they have hanging over their heads for the rest of their lives and the more then likely probability they will get divorced pay child support / alimony / deal with emotionally damaged kids / criminal and drug behavior / kids that end up living at home into their 30's or beyond. Good luck to ya.

Actually, the majority of people who get married do not divorce. Unfortunately, wombs dry out irrespective of financial situation, so at some point a person needs to either have kids regardless of finances or decide never to have them at all.

 

[Doppel]

Wrong. You can easily find a GREAT job without going to college.

For example, if you learned programming, software development for 4 years on your own, I guarantee you, you will find an excellent paying job immediately.

I'm 24 years old. I make over 100k. I didn't finish college.

Why didn't you? You said you're one credit shy. You may be hiring without consideration of it, but many people don't, including future potential employers of yours. There are many white collar firms that will not hire without a college degree, period.

Some degrees are ALMOST worthless, but none are truly 100% worthless, and given how the middle and lower classes are being squeezed more than ever it truly behooves an individual to get a degree in a decent discipline (i.e. engineering, not social sciences).

Tuition costs must be considered, though; a debt free state place over tens of thousands in private is probably a preference.

 

[brianmanahan]

or do like my parents did - tell me that if i didnt want to have to pay for the entire college tuition, i would need to get scholarships, because they were not going to pay for it.

so i studied hard and got good grades and act score, and voila, full tuition scholarship.

 

[unokitty]

Don't want to argue that a degree is worthless. But when:

There are 18,000 parking lot attendants in the U.S. with college degrees. There are 5,000 janitors in the U.S. with PhDs. In all, some 17 million college-educated Americans have jobs that don't require their level of education.--Gizmodo

It might just be time to examine this idea that everyone needs to go to college.

Uno

 

[waggy]

I do agree something needs to be done about education. it's insane how fast and how high college cost.

With Obama talking about it there was a report that it really cost a college student to go to the avarage in state college about $8-12k a year. yet the avarage cost is $24k a year. BUT every year they raise the cost 10-20%.

I think the idea of capping the payment of a loan to 10% of the kids income is just as insane.

not sure what they should do. but something needs to be doen.

It might just be time to examine this idea that everyone needs to go to college.

Uno

I agree. Not everyone needs to go to college. Trouble is that the culture of the US is that you are worthless without it and won't get a good job. This goes hand in hand with the decline of blue collar jobs. People look down on farmers, road workers, etc. if you aren't a office worker? you get looked down on.

I think this is a huge mistake for the US. We stopped trade schools, we stopped introducing kids to "shop class" etc.

frankly we need these jobs. not everyone should or wants to go to college or sit in a office.

 

[unokitty]

I do agree something needs to be done about education. it's insane how fast and how high college cost..

In the UK, they have a 'gap year' concept.

That is, a year between high school and college that many students take off and travel. They then start college a year older and a bit more mature ...

In the US, I can see how a year to earn money might help. Particularly, if someone is going to do 2 years at a CC and 2 years at a University.

Uno

 

[mikegg]

Why didn't you? You said you're one credit shy. You may be hiring without consideration of it, but many people don't, including future potential employers of yours. There are many white collar firms that will not hire without a college degree, period.

Some degrees are ALMOST worthless, but none are truly 100% worthless, and given how the middle and lower classes are being squeezed more than ever it truly behooves an individual to get a degree in a decent discipline (i.e. engineering, not social sciences).

Tuition costs must be considered, though; a debt free state place over tens of thousands in private is probably a preference.

Why didn't I? Because I started working full-time before I even graduated. My skill was in demand and I learned it all on my own on the internet.

I agree that not all degrees are worthless especially if you do engineering or math. But for those doing anything else, it's almost a waste of time nowadays.

By the way, I realize that not everyone is the same. Those who get jobs straight out of college, in my opinion, would still get the jobs if they studied by themselves for 4 years. There are people who just get "it" more than others.

Let me give you examples:

If you want to do marketing without going to college:
1. Learn photoshop skills
2. Learn some web development skills such as HTML, CSS, Javascript
3. Get certified in Google Analytics
4. Build a website
5. Try to market the website

You've just done more and know more than 99% of marketing graduates. Trust me. I work with "normal" marketing people everyday without any of these crucial modern skills. I've done all of the above which is why I'm 24 and I'm already a manager. The "normal" college graduate marketing people would have to hire contractors to do anything because they have no technical skills. Their ideas are limited because they don't have those skills.

If you want to be a software engineer(and make $100k easily):
1. Learn Python first (easiest programming language to learn right now)
2. Learn HTML and CSS (can be learnt in 1-2 months)
3. Try to build an app
4. Use stackoverflow.com for questions
5. Build more apps
6. Practice, practice
7. Learn modern frameworks like Backbone.js, Angular.js, Django, Ruby on Rails

There are so many free and cheap coding schools online. I guarantee if you did this for 4 years, you'll start out making $100k minimum.

If you want to be in business:
1. Learn how to build websites
2. Learn web analytics
3. Build an ecommerce site and try to sell something
4. Learn Google PPC/bid optimization so you can create positive ROI online marketing campaigns
5. Take what you learned about business and expand

You're not going to college but want some professional experience like internships:
1. Start a blog to write your ideas
2. Work on projects on your own and show good results
3. Use LinkedIn to get in contact with the company you work for
4. When you get an interview, prepare prepare prepare. I did Power Point presentations for all of my interviews. It absolutely shows that you know what you are talking about and show that you are passionate.

It's about hustling. It's really not that hard as long as you "get it". Listen, most hiring managers don't give a damn about your degree. They want to find passionate, smart, hard working people. Those who don't have any of those qualities will struggle getting a job even if they did go to college. Those who have all of those will find a way even if they never finished high school.

 

[brianmanahan]

If you want to be a software engineer(and make $100k easily):
1. Learn Python first (easiest programming language to learn right now)
2. Learn HTML and CSS (can be learnt in 1-2 months)
3. Try to build an app
4. Use stackoverflow.com for questions
5. Build more apps
6. Practice, practice
7. Learn modern frameworks like Backbone.js, Angular.js, Django, Ruby on Rails

this can definitely work, but the vast majority people who try it are going to fail at it. more power to them if they can do it.

as for 100$k per year, i know thats what everyone makes here on atot, but its very region dependent. there are relatively few jobs, software or otherwise, that make that much money in most of the regions of US. in my region software dev averages about 70$k-80$k. though you can keep your cost of living low (20$k-30$k is doable around here), so it makes for a very good amount of savable/disposable income.

 

[Doppel]

this can definitely work, but the vast majority people who try it are going to fail at it. more power to them if they can do it.

as for 100$k per year, i know thats what everyone makes here on atot, but its very region dependent. there are relatively few jobs, software or otherwise, that make that much money in most of the regions of US. in my region software dev averages about 70$k-80$k. though you can keep your cost of living low (20$k-30$k is doable around here), so it makes for a very good amount of savable/disposable income.

Yeah a hundred K is a lot. I think his ideas in general are good, though. A person spending a good bunch of their free time working on apps, trying to get something in the apple store, or a browser extension or anything they can throw on a resume and say look this many people use this app I invented, it makes for an interesting story.