Stop paying credit cards. Give yourself a bailout!!

[ElCubano]

Quote from Scataphagos:

Well, if you have an advanced degree in say, Elizabethan Lit and it gets you a job teaching at a university paying more than you can make cleaning carpets... then it's perhaps worthwhile.

If not, then is the $150K debt you incurred to "become educated" worth it?

I have a friend who's 42 and a doctor... just this year got his college loans paid off. Imagine... being 42, an MD, and having virtually no money? What about the poor fools who incurred huge debt for college and make $40K (or less?) per year?

RISK....is where it's at. It's not who studied most or worked harder. It many times falls on who has risked most...and I aint talking capital only...peace

 

[Scataphagos]

Quote from ElCubano:

RISK....is where it's at. It's not who studied most or worked harder. It many times falls on who has risked most...and I aint talking capital only...peace

What do you mean by "RISK"? It's only prudent to think of college expenses as being potentially "worth it"... like becoming a doctor, lawyer, or engineer.

No REAL benefit to becoming an "indebted but educated" person with an arts degree.

Then again, if you have LOTS of money and want to spend it getting a "feel good" degree... well it IS still America (for now) and you can spend your money any way you choose.

But if you intend to go $150K into debt and be a debt slave to your college loans (or worse yet, "default because you can")... college wasn't really worth it. (No real benefit to "living in your educated memories" while you sweep the high school gymnasium.)

 

[ElCubano]

Quote from Scataphagos:

What do you mean by "RISK"? It's only prudent to think of college expenses as being potentially "worth it"... like becoming a doctor, lawyer, or engineer.

No REAL benefit to becoming an "indebted but educated" person with an arts degree.

Then again, if you have LOTS of money and want to spend it getting a "feel good" degree... well it IS still America (for now) and you can spend your money any way you choose.

But if you intend to go $150K into debt and be a debt slave to your college loans (or worse yet, "default because you can")... college wasn't really worth it. (No real benefit to "living in your educated memories" while you sweep the high school gymnasium.)

What is "risk"? the kid who drops out of college against his parents wishes and gets his allowance cut off to start something he has always wanted to do....that's one meaning.

 

[Sandybestdog]

Quote from Trader666: You said it was the answer yesterday... good luck Sandy, play out your lose-lose scenarios with someone else. [/B]

I never said it was the answer. How can it be the answer when we have the highest percentage of college graduates, yet unemeployment is increasing, real wages are decreasing, and the ecomomy is in the crapper. You have yet to explain how more college degrees = bad economy. What I did say is that higher educated people do make more money compared to others. But that higher pay is much less than what it used to be. In 5 and 10 years, it will be even less. 30 and 50 years ago the middle class was at its strongest, yet very few of them were college educated. How can this be? Your logic doesn’t make sense.

It’s funny how the past few posts have focused on the costs/rewards of college, yet you have been strangely silent. You have yet to tell everybody here how people should pay for all of this college you say they should get to make more money. You rail on people for not paying their debts, yet in order to make more money, you suggest more education, which inevitable means more debt. Your solution to the problem is the problem itself. Combine that with the fact that real wages are declining despite a higher educated population, and it seems the only ones getting rich with your philosophy are schools and the bankers financing everything. Seriously, you should run for Congress with that kind of logic.

 

[maxpi]

Workers of the world unite. Default now and avoid the rush. All you have to lose is your current address!!

 

[Scataphagos]

Quote from ElCubano:

What is "risk"? the kid who drops out of college against his parents wishes and gets his allowance cut off to start something he has always wanted to do....that's one meaning.

"Financial risk"... If parents are paying for college, then it's fine to waste any amount of money.

 

[jueco2005]

Four months after.

Defaults on credit cards continue on a massive scale.

I keep getting phone calls from my cc company.

Bankruptcy is a daily business down here in Miami. Lawyers even finance you.

 

[MattF]

Quote from dirkd:

The more education you have the better of an overall mind you have. You increase your chances of a better paying job, merely by being an educated person. That doesn't mean you will receive more income only increases your chance. Regardless if you don't receive a penny more because of your education, no one can ever take your education away. Which, in my opinion, is worth more than anything else. Economic situation is temporary education is permanent.

Education is good if it's good, relevant, informative, and also more importantly, makes you think and springs ideas.

Education now is just take this information, rehash it back a couple of times (test), see how long you can remember it until the end, then go ahead and forget about it.

 

[MattF]

Quote from jueco2005:

Four months after.

Defaults on credit cards continue on a massive scale.

I keep getting phone calls from my cc company.

Bankruptcy is a daily business down here in Miami. Lawyers even finance you.

Six months = charge off. After that, calls should slow down as the debts are sold off to collection companies...at which point calls may pick up depending on which company handles the account.

Settlement offers can still come in, or you could offer yours; may not be too "low" right now, but can be feasible.

 

[ByLoSellHi]