Grads Buried in Student Loan Debt, but Unwilling to Give Up Luxuries

[2stepz_ahead]

If I knew then what I know now, I wouldn't have went to college

But I only learned what I know now by going and having that experience lol

now pass it on to yo kids...

thats how u pay it forward..

quit thinkin about urself...

Most definitely

dig!

i jus hate when i hear "if i knew then what i know now??" or "u cant take it wit u"

shit like that is why the poor stay poor ..cause they only concerned wit themselves.. i got a cousin who sees how i am wit my daughter and dsys she wishes she had a dad like that.. im like "no bitch, go find a man like that to be wit u and ur kid." lol people always stuck on them.. when this shit is about progression..

and thats how the rich stay gettin richer.. generation after generation they gathering amd sharing information..

u jus the sacrificial lamb my nigga. yo grandkids go be straight tho! lol

this is the same thing i said in the business conference..

at some point someone in the family needs to step up...problem is too many of us want to enjoy our hard work and let our kids fend for themselves. in my eyes thats failing as a parent. cuz once you have kids...thats when sacrifice begins.you dont have to stop living but you need to live like your shit needs to continue after you.

i also hate the "cant take it with you excuse" so why even make it then...sounds selfish to me

we have too many people going agaisnt forward thinking becuase they chasing the wrong thing

i know...tomorrow is not promised but it will come, then what

Everybody doesnt have or want kids. I love my life but its a bunch of sht to worry about and have to deal with in this world. Im not big on bringing someone here and giving them that job. Dont come and its like no harm no foul. Now if you do have kids its like a balance. I agree people let their kids fend for themselves a lot. At the same time they gotta learn to function and handle their own affairs. Also its your money so you might as well enjoy it. They gotta earn their own...with hopefully providing a good balance of enriching them.

its not just about kids....what about your mate or your mom.... what if you never get rich to be able to get your mom out the hood(no saying she is..just an example).if you properly planned,lets say you have a life threatening illness and pass before her...your planning can give her the dream you have wanted for her but couldnt see it come to fruition.

also about kids....i get your point, but your job as a parent is to give them the tools for them to make the proper decisions....and their life should be a bit easier then yours like yours should be better than your parents. we are here to enhance our bloodline. so whether i leave them a house or a trust to pay for college, i helped them not worry abput small shit so they can concentrate on other shit.

think about how your life would be right now if your parent(s) gave you a paid for house, a working car and a few thousand after all college expenses.

think about that for a sec

 

[2stepz_ahead]

I hope y'all are the same people that don't go into debt for cars or clothes.

Student loan and mortgages are workable debt IMO. I'll speak for myself. I don't think I would be making this much money at 29 if I didn't go to school.

I don't have all of the answers, so let me know... If I didn't have a mortgage, I'd be renting... How is that a better financial decision?

good point...but the problem is some people want it all.

sorry but life aint about having it all.

even when it looks like it...its not what it seems.

the american system is thriving off the loss and confusion of priorities

 

[jniam]

Fuck college. You can get just as far if not farther in life on licenses and certifications which are much cheaper and in some instances free.

That don't work for every profession...some shit you need to go to college for.

very true.

Yep, if you are looking to do finance or anything professional, best believe you're gonna need a top college degree plus an MBA. College is an investment, and you have to invest wisely.

When I was going to college my parents let me know from the jump that I could study whatever I wanted and they would pay for it, but the moment I graduated, I'm on my own.

Bruhs are talking about going to a tier 2 college and studying AA studies. Not that theres a problem with it, but you have to still get the skills needed to get a decent job and income, especially if you have loans. My AA studies professor majored in Finance and AA studies, did investment banking for 2 years to pay of his loans then went back to his passion in AA studies. That's how you play the system. It's only kids in Ivys and top institutions that you can study whatever and be straight. Kids in Harvard are getting offers to Goldman Sachs but majored in Eastern Asian Language.

 

[2stepz_ahead]

Fuck college. You can get just as far if not farther in life on licenses and certifications which are much cheaper and in some instances free.

That don't work for every profession...some shit you need to go to college for.

very true.

Yep, if you are looking to do finance or anything professional, best believe you're gonna need a top college degree plus an MBA. College is an investment, and you have to invest wisely.

When I was going to college my parents let me know from the jump that I could study whatever I wanted and they would pay for it, but the moment I graduated, I'm on my own.

Bruhs are talking about going to a tier 2 college and studying AA studies. Not that theres a problem with it, but you have to still get the skills needed to get a decent job and income, especially if you have loans. My AA studies professor majored in Finance and AA studies, did investment banking for 2 years to pay of his loans then went back to his passion in AA studies. That's how you play the system. It's only kids in Ivys and top institutions that you can study whatever and be straight. Kids in Harvard are getting offers to Goldman Sachs but majored in Eastern Asian Language.

Fuck college. You can get just as far if not farther in life on licenses and certifications which are much cheaper and in some instances free.

That don't work for every profession...some shit you need to go to college for.

very true.

Yep, if you are looking to do finance or anything professional, best believe you're gonna need a top college degree plus an MBA. College is an investment, and you have to invest wisely.

When I was going to college my parents let me know from the jump that I could study whatever I wanted and they would pay for it, but the moment I graduated, I'm on my own.

Bruhs are talking about going to a tier 2 college and studying AA studies. Not that theres a problem with it, but you have to still get the skills needed to get a decent job and income, especially if you have loans. My AA studies professor majored in Finance and AA studies, did investment banking for 2 years to pay of his loans then went back to his passion in AA studies. That's how you play the system. It's only kids in Ivys and top institutions that you can study whatever and be straight. Kids in Harvard are getting offers to Goldman Sachs but majored in Eastern Asian Language.

um..... east asian language helps that company stay with growth in east asia.

but i know alot of niggas who majored in Art....an mcdonalds hired them right to manager

 

[konceptjones]

Millenials act like poor folks with their unrealistic expectations. Poor folks stay trying to floss like they got money but wondering how they're gonna buy food after they drop $$$ on them Jordans and whatnot. Live within your means and don't worry about what the next man got.

You got debt to pay, take care of that shit as quickly as you can. You don't need an iPhone/Galaxy/what the fuck ever with the unlimited data plan right now. You don't need a fuckin car note right now. You don't need to be living lavish in a condo in the upscale part of your city.

You need to pay that shit off so it doesn't rule the rest of your life. If the payment is $150/month, double or triple up on it to get done faster. Forego clubbin and other shit that ain't gettin' you any closer to paying off that debt. If you come out of college making $50K/yr and you have $40K worth of debt, then act like you're only making $30K/yr and dedicate yourself to getting out from under that loan debt in three or four years instead of dragging it out for 30 or 40 years. It makes more sense to still be in your 20's and manage your finances to be debt free before you're 30 than to be sittin off at 40 married with kids, a mortgage, and car notes trying to figure out how to make a payment before you get garnished.

 

[mryounggun]

I mean my grandmother just passed away and while looking at caskets anything that was above a fucking woodbox was over 5-6k for a regular looking one and that's not including anything personal which pushed it over 10k. Everyone dies so why should something that EVERY SINGLE PERSON on the planet will one day experience potentially put us in debt?

Can anyone explain why a box that's gonna be dumped into the ground never to be seen again is 5-6k? That is insane

Sure. The short answer is that - like every other product - it costs that much because people are willing to pay that much.

 

[texas409]

I wanna learn how to do IT for free online that seems like a good hustle

 

[konceptjones]

I wanna learn how to do IT for free online that seems like a good hustle

Code Academy to start coding (I'm brushing up on Python with it).

Youtube has a wealth of information on any aspect of IT you could ever want to get into.

 

[texas409]

I wanna learn how to do IT for free online that seems like a good hustle

Code Academy to start coding (I'm brushing up on Python with it).

Youtube has a wealth of information on any aspect of IT you could ever want to get into.

props

 

[Mister B.]

"Higher education" these days is more of a double-edged sword than ever. Most people end up in careers that have nothing to do with their major in school. I'm one example. So are some of my frat, and a lot of the people I went to school with. Most of the shit taught people forget or unlearn within three years of graduation, however you can't even get in doors of most industries without at least a Bachelor's or Master's degree.

Yes, financial responsibility plays a HUGE role in how grads sink or swim after school. You wouldn't believe the amount of folk that are lawyers/high-end bankers/stockbrokers/etc that end up six figures in debt because they live like their job title suggests they should.

It's just sad that grade school don't offer mandatory courses for people - whether going to college or not - on basic money management, which should include family planning. That's what's fiscally killing folks, too. Having children before they can prepare for them, or having way more than they can take care of, even when they are making high five-figure, low six-figure career positions.

 

[willhustle]

Main reason I can't get with how the institution of college is set up. I hate how our country pushes people to go to college and take out a bunch a loans and then by the time you graduate you're stuck 50k+ debt or more. I remember watching the evening news about this once and they interviewed a woman who was 100k in debt and working a minimum wage job just to pay off the debt. She couldn't even find a job in her field and with some of these majors when you graduate some employers require you to have some experience in said field beforehand. Like wtf?

 

[willhustle]

Tuition assistance financial aid and academic scholarships>>>>>>

I went to school straight up on pell grants but if you transfer to any university those pell grants ain't covering that high ass tuition & books. I know just started back to take a few classes to build on my experience/resume and when I went to pick up my book for my class that shit was damn near $200.

College is nothing but a way to hustle students into debt. No way I'm taking out any loans w/interest to end up with no job and paying back interest until I'm 50 fuck that.

 

[usmarin3]

The fuck up shit with student loan debt is you can't get rid of it. It's the herpes of debt, not even a bankruptcy court can cure it.

 

[willhustle]

I invest in my education with my own money. One time I was about to apply for a student loan but I am glad that I changed my mind

If I truly decide that I want to pursue another degree, I think this time I will be coming out of my own pocket. I had a cousin who went to school out her own pocket (no loans or grants) and kept going until she graduated. Being in debt to obtain a degree is some bullshit.

 

[AggieLean.]

Graduated college with 30K in debt. Pops told me I could come home and live rent free...to just use most of my check to get the debt down. I started out of college making decent coin, so i was able to put a major dent in that debt before I found a better opportunity in another state and left home. I thank him and my mom everyday for that.

Going through all of this made me hip to the game. Going to make sure my kids do all the things that I should have done, to avoid student loan debt.

 

[The Iconoclast]

Fuck college. You can get just as far if not farther in life on licenses and certifications which are much cheaper and in some instances free.

That don't work for every profession...some shit you need to go to college for.

very true.

Yep, if you are looking to do finance or anything professional, best believe you're gonna need a top college degree plus an MBA. College is an investment, and you have to invest wisely.

When I was going to college my parents let me know from the jump that I could study whatever I wanted and they would pay for it, but the moment I graduated, I'm on my own.

Bruhs are talking about going to a tier 2 college and studying AA studies. Not that theres a problem with it, but you have to still get the skills needed to get a decent job and income, especially if you have loans. My AA studies professor majored in Finance and AA studies, did investment banking for 2 years to pay of his loans then went back to his passion in AA studies. That's how you play the system. It's only kids in Ivys and top institutions that you can study whatever and be straight. Kids in Harvard are getting offers to Goldman Sachs but majored in Eastern Asian Language.

^^^Slept on post in this thread. Everything you said is the cold hard truth in the real world.

Which is exactly why I spoke about ROI(return of investment) earlier in this thread and the fact that not all degrees are created equal. Most degree's especially in the engineering or finance industry just give you the necessary foundational knowledge you need to get your foot in the door of a competitive entry-level occupation in a decent company in your industry - in the vast majority of cases you don't really obtain the specialized knowledge until you actually get the experience/training/certification that comes with actually working in the industry and moving up the ladder where your job description/role changes from the entry level responsibilities.

Speaking from experience, even the internships and recruiters on campus are selective/have a preference.

I know for a fact the vast majority of companies recruiting for say actuarial/risk management jobs are going to prefer anybody with a BS in Computational Finance and minor in Mathematics over some dude with a (no disrespect intended to anyone who majored in them, they're still excellent to have) a BA in Geography or English literature unless you finished undergrad at an Ivy or the selective target schools just below them in prestige but are located in fertile job markets as well.

This is why I say college isn't for everyone (I've discovered that people with certs or experienced technical backgrounds, make just as much if not more than people with bachelor degrees) and if you do go to school simply to increase your earning potential (without caring much about work–life balance or self-fulfillment/loving what you do) make sure you major in something (e.g., anything STEM is the wave blacks need to ride) that will get you a decent ROI and the ability to knock out your student loan debt quickly.

 

[blackrain]

Graduated college with 30K in debt. Pops told me I could come home and live rent free...to just use most of my check to get the debt down. I started out of college making decent coin, so i was able to put a major dent in that debt before I found a better opportunity in another state and left home. I thank him and my mom everyday for that.

Going through all of this made me hip to the game. Going to make sure my kids do all the things that I should have done, to avoid student loan debt.

This is something some peoples ego won't let them do...go back home after college and stack up. A lot feel like they HAVE to get their own spot. Having your own is great but struggling to maintain it ain't...

 

[Will Munny]

I'll be debt free in 9 years. Fuck college.

 

[NothingButTheTruth]

SMH at some of the posts in this thread:

If you borrow money for an extended period of time, you have to pay it back WITH interest. That has always been the case.

College is an investment, nothing more, nothing less.

If you fucked up your credit or got got, own up to it, and get yourself out of the hole. Stop whining.

Long-term debt with high interest is never a good thing. Stop telling yourself that, to make yourself feel good. The debt you get from college should be more of a low risk maneuver if you did it right, because based on the numbers, you should have calculated that you would come out making enough to pay it off in a few years. If not, you fucked up and got work to do.

And stop this generalization bullshit. It's always based on the individual. People with an 8th grade education can end up making more money than some with a master's degree. There's no formula. You just have to follow where your talent takes you.

 

[5onblackhandside]

Im in college right now, i tell you what that AA,AS degree some bullshit doe. That whole degree is taking classes i already took in high school and retaking the shit again. Nigga i already did English, Science, Math, History in jr/senior high school, FOH!

If the Navy wasn't paying for my schooling i wouldn't fuck with college.

College aint for everyone i know niggas that own lawn cutting business or installing cable making $60,000 + a year. But you have to put in work.

Im working on my Business Adminstration degree two more semesters left but only about one more semester that the 9/11 GI Bill can pay for. Thinking about going overseas doing a contract job for a year so i can pay out of pocket, fuck a loan.