Here we go, of course the example is a woman that went out and accumulated $242,000 in debt for a degree she doesn’t use . . .
Even assuming that she was working in the field she wanted to and didn’t realize that work in general sucks, because it is work and most work, even the most sophisticated work gets dull and tedious after a while unless you have one of those jobs that involves partying diplomacy all the time like a politician.
I find it hard to imagine anything short of being a medical doctor that would be worth that amount of college debt.
Now the author says that student loan debt isn’t necessarily bad because it “can help people get ahead by qualifying them for jobs that enhance their lifetime incomes.”
That assumes a couple things, the lost 4+ years of work and the excessive payments will be made up for over a lifetime of economic activity.
Even before the recession, this was no longer true on average, and now with the depression recession unfolding, it is even less true.
Imagine if over the next ten years the average real wealth of a person drops 30%, there is no way these student loans are going to be worth it. Ever.
The only bright spot to all this is that most of the people in college are women now, chasing worthless degrees. As long as a man isn’t foolish enough to marry these status climbing debt sink holes, life is good. Let women live the soul crushing existence of student debt.
They wanted it, now they got it.
Welcome to Hell.
Here’s your student loan repayment plan.
