So you got these middle age people who complain and complain about there minimum wage job/crappy job. The part that gets me is anybody can go to college and if your “poor” you can get a student loan……So if you had the perfect oppurtunity then why not go? I’m a teenager and dont want to be working in a factory for the rest of my life and I know for a fact I can afford college and I’m going. Do you think I’ll be safe?
Not anyone can go to college and student loans are very hard to pay back.
Assume for a minute you are 30 working for 20 an hour supporting 2 kids living in an apartment. Daycare takes about 1,200 a month with a mortgage and utilities costing another 1,200 a month. Food, car payments, clothing, life insurance and other basic expenses cost the rest of the paycheck leaving you with maybe $200 a month to save for retirement, replenish emergency fund, buy birthday and Christmas gifts and all other wants like vacations.
Going to college might cut your income from 40K to 20K meaning you would be working half time while going to college and doing homework while caring for children, a house, making meals and living on student loans for the other 20K plus the tuition and books. You end up 4-5 years older with 100K in student loans and look for an entry level job in a new field. You would be lucky to land one making 45K meaning it doesn’t even pay the interest on the loan from the increase if you get one at all.
Our receptionist got an accounting degree two years ago, she is still a receptionist but now has student loans she is 55. Nobody will hire her for an entry level accounting job because they want 22 year olds.
I was lucky I was single at 39 when I decided to go get a degree in accounting. I still had a house to take care of and a full time job but I don’t have kids and was making a decent living before. I paid cash as I went for college so never took any loans but going to class from 6-10 every night after working 7-4:30 and doing term papers on weekends was hard. I then took the CPA review class while finishing my last classes and pass the exam. Two years and 2 months without one minute to relax was brutal and didn’t change my career path at all.
Going to college at 18 with parents who send care package when you don’t have any responsibilities is pretty cheap. You also have all the money you saved from summer jobs in high school and parents sometimes help and you might get scholarships, if you work even half time you might finish with low debt.
I agree. I believe that anyone can make it if they work hard enough and use their brains. My mom dug us out of poverty after she made some bad decisions in her life. Never went on welfare, so she did it on her own. It was hard for a few years.
I believe that loans are worth getting even if it takes you years to pay back. Sometimes people major in weird things that does nothing for them in the real world. A person majoring in something like accounting, graphic design, finance would have a better chance in finding a job after college versus someone who majors in art history.
So many people could save up and go to college, instead they just fritter away their paychecks on the things they want right now. There’s always a way. The point is to make good decisions along the way.
I’m glad that you can afford college and are going to go. That’s great!
Not everyone qualifies for student loans. And the state and federal governments will only help you out in certain conditions. A lot of people cannot afford to quit working to go to school.
If you can afford college, and you are going for a good degree, you should be okay in the long run. Nothing is for sure though, you will be the one to make your path in life…
And regarding middle aged people who hate their jobs…you may have been raised luckier than most people, and your view on people going to college later in life is rather idealistic. When you’ve got yourself to support or a family to support, you need money. The only way to make money is to work. Most people, unless they go to college fresh out of high school, never get the chance to go later on because of the money needed for basic living day to day. Student loans are great for right now, but once you get out of school, you can have upwards of $100,000 in student loans to pay off plus interest. For many people in lower paying jobs now, they are already in debt. It is a vicious cycle. It’s much harder to do it, than it is to talk about it. I’ve grown up in a world where I’ve been able to see all of that first hand…that IS my family, and I take a little offense when people think it’s so easy to pull yourself out of the rut and runaround and go to school. It’s so unbelievably hard for middle-aged people to be able to do that.
That being said, it’s good that you’re thinking about how your quality of life is going to be affected by job choice/further education. Make good decisions, and you’ll do fine!