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Well, I might have to support Bernie again this year

It is ironic, isn't it? Those complaining about their debt load are in many cases the ones who can most afford it.

I don't have any sympathy for the empty nester who goes and gets a grad degree in comparative literature. I have a lot more for the single mom who got a degree in education (which also almost requires you to get a grad degree later) or an RN. The ones I feel the most sorry for are the bright kids that "followed their passion" and got a history degree, then found out it was worthless. Four year liberal arts degrees are now a luxury of the already wealthy.

My dad got a degree in voice from the IU School of Music (via scholarships and working his ass off) in the early 50s. He had a job lined up as the musical director back in his home town upon graduation. Instead, he got drafted and sent to Korea. When he got back, the home town position wasn't there, and he went to work for American United Life in their mortgage loan department. He had zero background in business or finance or economics, but they took him on and trained him up. He later went on to be a top selling agent.

That doesn't happen nowadays. Employers want their cogs pre-built to their specifications, ready to plug into the machine. Colleges and Universities today are glorified trade schools. The days of getting an education for education's sake are long gone.

not sure i'd say a history degree is worthless, and there are history teacher jobs if you can qualify on other fronts, but never less, it's not a degree in brain surgery.

that said, there's something to said for following one's passion, and it's a shame that one can't follow it as relatively cheaply as one once could.

on a side note, i was talking to Judge Smails out at Bushwood the other day, and he told me, the world doesn't even need ditch diggers anymore..
 
It is ironic, isn't it? Those complaining about their debt load are in many cases the ones who can most afford it.

I don't have any sympathy for the empty nester who goes and gets a grad degree in comparative literature. I have a lot more for the single mom who got a degree in education (which also almost requires you to get a grad degree later) or an RN. The ones I feel the most sorry for are the bright kids that "followed their passion" and got a history degree, then found out it was worthless. Four year liberal arts degrees are now a luxury of the already wealthy.

My dad got a degree in voice from the IU School of Music (via scholarships and working his ass off) in the early 50s. He had a job lined up as the musical director back in his home town upon graduation. Instead, he got drafted and sent to Korea. When he got back, the home town position wasn't there, and he went to work for American United Life in their mortgage loan department. He had zero background in business or finance or economics, but they took him on and trained him up. He later went on to be a top selling agent.

That doesn't happen nowadays. Employers want their cogs pre-built to their specifications, ready to plug into the machine. Colleges and Universities today are glorified trade schools. The days of getting an education for education's sake are long gone.

A lot of money can be made with imagination. Be it Marvel, Pokemon, Star Wars, computer gaming, etc, people do really well. Jobs always said a typography class was key to his success. Business, law, STEM are not key drivers of imaginative thought.

And I always love pointing out that on July 2, 1863, a professor of rhetoric proved he was as good as anyone with a "real" degree.
 
It is ironic, isn't it? Those complaining about their debt load are in many cases the ones who can most afford it.

I don't have any sympathy for the empty nester who goes and gets a grad degree in comparative literature. I have a lot more for the single mom who got a degree in education (which also almost requires you to get a grad degree later) or an RN. The ones I feel the most sorry for are the bright kids that "followed their passion" and got a history degree, then found out it was worthless. Four year liberal arts degrees are now a luxury of the already wealthy.

My dad got a degree in voice from the IU School of Music (via scholarships and working his ass off) in the early 50s. He had a job lined up as the musical director back in his home town upon graduation. Instead, he got drafted and sent to Korea. When he got back, the home town position wasn't there, and he went to work for American United Life in their mortgage loan department. He had zero background in business or finance or economics, but they took him on and trained him up. He later went on to be a top selling agent.

That doesn't happen nowadays. Employers want their cogs pre-built to their specifications, ready to plug into the machine. Colleges and Universities today are glorified trade schools. The days of getting an education for education's sake are long gone.


To some degree you are very accurate. A liberal arts degree is basically a luxury purchase. But there are also a lot higher % of people attending college than in prior generations. When maybe once college was a luxury purchase, entirely.

I mentioned in the other thread we had on college costs that there are many pathways to get the job done....an in-state student could get a 4 yr IU degree for $27k total tuition, if they have a good plan.

https://www.ivytech.edu/files/AffordabilityGraphic-IU-Final.pdf
 
You’re a goddamned American hero. I mean that with all sincerity.


I was just going to say he must love his kids more than I do mine.

While there is certainly some level of economic advantage for attending an Ivy League level institution.....I'm not convinced it is worth it. Certainly not at the expense of saving for one's own retirement.

My kids will have their 4 year degree paid for by us at the in-state level of cost. Anything beyond that is on them.
 
To some degree you are very accurate. A liberal arts degree is basically a luxury purchase. But there are also a lot higher % of people attending college than in prior generations. When maybe once college was a luxury purchase, entirely.

I mentioned in the other thread we had on college costs that there are many pathways to get the job done....an in-state student could get a 4 yr IU degree for $27k total tuition, if they have a good plan.

https://www.ivytech.edu/files/AffordabilityGraphic-IU-Final.pdf
Gotta disagree about the liberal arts degree. Better said, it is useful and at least SOME business interests find it as such. I won't overstate it or gratuitously knock business degrees, but the old saw about law school not teaching substance, but instead teaching you how to think tends to apply to undergrad as well. Curiosity, creativity, problem-solving and related skills are enhanced via college education and particularly (not exclusively so) by what goes into getting the liberal arts degree. Some of the brightest performers in my experience come from a liberal arts degree.

Edit: Add emotional intelligence to the list of traits more likely to be developed via liberal arts. (Not a scientific opinion of course, just shooting from the hip on this one).
 
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It is ironic, isn't it? Those complaining about their debt load are in many cases the ones who can most afford it.

I don't have any sympathy for the empty nester who goes and gets a grad degree in comparative literature. I have a lot more for the single mom who got a degree in education (which also almost requires you to get a grad degree later) or an RN. The ones I feel the most sorry for are the bright kids that "followed their passion" and got a history degree, then found out it was worthless. Four year liberal arts degrees are now a luxury of the already wealthy.

My dad got a degree in voice from the IU School of Music (via scholarships and working his ass off) in the early 50s. He had a job lined up as the musical director back in his home town upon graduation. Instead, he got drafted and sent to Korea. When he got back, the home town position wasn't there, and he went to work for American United Life in their mortgage loan department. He had zero background in business or finance or economics, but they took him on and trained him up. He later went on to be a top selling agent.

That doesn't happen nowadays. Employers want their cogs pre-built to their specifications, ready to plug into the machine. Colleges and Universities today are glorified trade schools. The days of getting an education for education's sake are long gone.
Don't disagree entirely, but as I said to twenty above, I do disagree about the value of a liberal arts degree. It's not appropriate training for anyone intending to seek a trade, but it's useful and on point for lots of corporate gigs. I also agree that not all talent acquisition folks get or appreciate that value, so it's far from universal, but lots of folks really good at assembling talent know better.
 
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Gotta disagree about the liberal arts degree. Better said, it is useful and at least SOME business interests find it as such. I won't overstate it or gratuitously knock business degrees, but the old saw about law school not teaching substance, but instead teaching you how to think tends to apply to undergrad as well. Curiosity, creativity, problem-solving and related skills are enhanced via college education and particularly (not exclusively so) by what goes into getting the liberal arts degree. Some of the brightest performers in my experience come from a liberal arts degree.
That's the sales pitch that liberal arts makes. It may have been overstated years ago, but I still think it's vastly overstated now when it comes to the job market. BICBW.
 
That's the sales pitch that liberal arts makes. It may have been overstated years ago, but I still think it's vastly overstated now when it comes to the job market. BICBW.
I'm trying not to be flippant because to each his own and no knock on anybody for whatever educational path folks decide to take, and you're absolutely not wrong in identifying whatever you actually experienced on that count, but more generally I'd say that lots of folks aren't particularly sharp and that includes lots of folks who would apply Trumpian conventional wisdom. In any event, lots of successful people who measure what actually works have a different perspective. But sure, maybe it's a lonely world for them (and unreasonably so).
 
This is the dumbest thing I've ever heard. We already have programs like IBR and PAYE which essentially make it so you never have to pay back your student loans if you don't want to. Nearly everyone I went to LOL school is on them and none of us have any intent on paying them back. My monthly payment is near 0 while my loan balance is well into 6 figures. I also have a net worth of around 7 figures already and in 15 years my loans will be wiped out hopefully tax free. If not I've got plenty saved for the tax bomb. There also is no tax bomb for PSLF so I doubt there will be one for anyone else either.
 
This is the dumbest thing I've ever heard. We already have programs like IBR and PAYE which essentially make it so you never have to pay back your student loans if you don't want to. Nearly everyone I went to LOL school is on them and none of us have any intent on paying them back. My monthly payment is near 0 while my loan balance is well into 6 figures. I also have a net worth of around 7 figures already and in 15 years my loans will be wiped out hopefully tax free. If not I've got plenty saved for the tax bomb. There also is no tax bomb for PSLF so I doubt there will be one for anyone else either.


Have you checked into how many people actually get approved for those so far? I know it's early....but so far less than 1% of applicants actually had their balance forgiven.

https://www.forbes.com/sites/camilo...approval-less-common-than-rhodes-scholarship/
 
Have you checked into how many people actually get approved for those so far? I know it's early....but so far less than 1% of applicants actually had their balance forgiven.

https://www.forbes.com/sites/camilo...approval-less-common-than-rhodes-scholarship/

Because they are dumb and aren't doing it right. You have to be enrolled in the program and make 120 qualifying payments. 0 counts as a qualifying payment but almost all of the people not approved were not working a true public service job.
 
Because they are dumb and aren't doing it right. You have to be enrolled in the program and make 120 qualifying payments. 0 counts as a qualifying payment but almost all of the people not approved were not working a true public service job.

They also must be screwing it up by not getting a public service job that lets them accumulate a million in assets. Most people working public service tend to struggle a bit more.
 
Because they are dumb and aren't doing it right. You have to be enrolled in the program and make 120 qualifying payments. 0 counts as a qualifying payment but almost all of the people not approved were not working a true public service job.


I'll bite on wondering how one gets a 7 figure NW, all while paying almost 0 on IBR. Some incredibly timely investments?
 
Gotta disagree about the liberal arts degree. Better said, it is useful and at least SOME business interests find it as such. I won't overstate it or gratuitously knock business degrees, but the old saw about law school not teaching substance, but instead teaching you how to think tends to apply to undergrad as well. Curiosity, creativity, problem-solving and related skills are enhanced via college education and particularly (not exclusively so) by what goes into getting the liberal arts degree. Some of the brightest performers in my experience come from a liberal arts degree.

Edit: Add emotional intelligence to the list of traits more likely to be developed via liberal arts. (Not a scientific opinion of course, just shooting from the hip on this one).
I went to IU with the intention of majoring in History because I love history with the idea that I might also minor in Political Science, but with the ultimate intention of going to law school. Half way through my first semester, I realized I wasn't going to be able to afford college all the way through law school. I also found out that History majors don't make much money right out of college. I went to an academic advisor and asked which undergraduate major at IU was making the highest average starting salary out of college and was told Quantitative Business Analysis. So that's what I did.

My daughter has a Communications degree and had about a 3.8 GPA. Far better than my undergrad GPA. This fall she starts graduate school and I'm paying for it. Luckily for her she has no student loan debt. Some degrees don't lead to good jobs and now she's getting one that could. People need to consider these things before they take out loans for their college educations.
 
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I went to IU with the intention of majoring in History because I love history with the idea that I might also minor in Political Science, but with the ultimate intention of going to law school. Half way through my first semester, I realized I wasn't going to be able to afford college all the way through law school. I also found out that History majors don't make much money right out of college. I went to an academic advisor and asked which undergraduate major at IU was making the highest average starting salary out of college and was told Quantitative Business Analysis. So that's what I did.

My daughter has a Communications degree and had about a 3.8 GPA. Far better than my undergrad GPA. This fall she starts graduate school and I'm paying for it. Luckily for her she has no student loan debt. Some degrees don't lead to good jobs and now she's getting one that could. People need to consider these things before they take out loans for their college educations.
The ole QBA. That was also what I majored in. To this day, I hate computers.
 
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The ole QBA. That was also what I majored in. To this day, I hate computers.

Is that basically an offshoot of a finance degree? They only offer it as a co-major now, but I took a few of the electives that's part of it (market making, game theory, fixed income/equity).
 
It

was basically computer programming with a lot of math, all in the business school
And don’t think of computer programming the way you youngsters do. Think of FORTRAN, Pascal, and Basic, using punch cards. It sucked
 
And don’t think of computer programming the way you youngsters do. Think of FORTRAN, Pascal, and Basic, using punch cards. It sucked


Yeah, hell looking at that now I should have double majored in that, I had already taken half the classes.

Who am I kidding, spent that last year focused on nickel night at the Bird. Specifically recall limping to the finish line with a C+ in security trading & market making after only making about 30% of the classes. What a waste of space I was by then.
 
Gotta disagree about the liberal arts degree. Better said, it is useful and at least SOME business interests find it as such. I won't overstate it or gratuitously knock business degrees, but the old saw about law school not teaching substance, but instead teaching you how to think tends to apply to undergrad as well. Curiosity, creativity, problem-solving and related skills are enhanced via college education and particularly (not exclusively so) by what goes into getting the liberal arts degree. Some of the brightest performers in my experience come from a liberal arts degree.

Edit: Add emotional intelligence to the list of traits more likely to be developed via liberal arts. (Not a scientific opinion of course, just shooting from the hip on this one).

That’s an interesting POV. I don’t think I had anything but passive learning at IU in my liberal arts courses. In the smaller classes where the professors actually asked questions, the questions were almost always about the assigned material. The answers were usually regurgitated information. The law school “hot seat” was far different and for me much more exhilarating.
 
A lot of money can be made with imagination. Be it Marvel, Pokemon, Star Wars, computer gaming, etc, people do really well. Jobs always said a typography class was key to his success. Business, law, STEM are not key drivers of imaginative thought.

And I always love pointing out that on July 2, 1863, a professor of rhetoric proved he was as good as anyone with a "real" degree.

Disagree about law. Advances in the common law are not discovered like scientific advances. They are created through the imagination, creativity, and skills of good lawyers.
 
Is that basically an offshoot of a finance degree? They only offer it as a co-major now, but I took a few of the electives that's part of it (market making, game theory, fixed income/equity).
My wife started at IU three years after me and had the same major, but they had changed it from QBA to Decision Sciences, I believe. QBA required all the core business courses, plus more advanced Calculus, linear algebra (which I hated), stats, computer programming (which I really liked), and a couple other courses I can’t recall at the moment. It was considered the most difficult business major at the time.

I didn’t know my wife at IU. I met her in Hawaii six years after my graduation.
 
John F. Kennedy famous words, "ask not what your country can do for you, ask what you can do for your country."

Seems like an ancient thought.
 
Disagree about law. Advances in the common law are not discovered like scientific advances. They are created through the imagination, creativity, and skills of good lawyers.

Everything about being a lawyer is to crush individuality from you. You must dress conservatively, a code of conduct requiring you to act conservatively, every lawyer's office i have been in has come from the 1950s. I am sure there are flamboyant out of the box lawyers, but the system is desperate to make you from the same mold,
 
My wife started at IU three years after me and had the same major, but they had changed it from QBA to Decision Sciences, I believe. QBA required all the core business courses, plus more advanced Calculus, linear algebra (which I hated), stats, computer programming (which I really liked), and a couple other courses I can’t recall at the moment. It was considered the most difficult business major at the time.

I didn’t know my wife at IU. I met her in Hawaii six years after my graduation.
Did she have family in Hawaii and did she go there to work?
 
I’m not for this, and this type of thing was one of the reasons I wasn’t a big Bernie fan to start with. See I’m not as liberal as you all think. I’d be for taking interest down to very bottom. But I don’t think you can just forgive all loans. We’ve had this discussion on the board before, but I was talking to some friends about it again yesterday. We really need to start pushing, at an early age, that college isn’t the only way to be successful. I know an awful lot of people who would have been better off going to a trade school and making decent money right from the start. So many kids go into college with no idea what they want to do, but do so just because it’s expected of them. Some find their way to a career path, but too many drop out and then have debt, no path, and no way to pay it back.
 
Bernie is full of crap if you can go to school for free and major in something easy who wouldn’t sign up for it? You could almost make a career out of going to school.

BTW talking about empty campaign promises I am still waiting for my 10% tax reduction Trump announced before the mid-term elections-when do we start getting it? I haven’t heard anymore about it.
 
I’m not for this, and this type of thing was one of the reasons I wasn’t a big Bernie fan to start with. See I’m not as liberal as you all think. I’d be for taking interest down to very bottom. But I don’t think you can just forgive all loans. We’ve had this discussion on the board before, but I was talking to some friends about it again yesterday. We really need to start pushing, at an early age, that college isn’t the only way to be successful. I know an awful lot of people who would have been better off going to a trade school and making decent money right from the start. So many kids go into college with no idea what they want to do, but do so just because it’s expected of them. Some find their way to a career path, but too many drop out and then have debt, no path, and no way to pay it back.
Serious question: How many of your girls have no business on campus spending their parents' money like they are? And to be fair, how many are paying for any of it themselves?
 
Bernie is full of crap if you can go to school for free and major in something easy who wouldn’t sign up for it? You could almost make a career out of going to school.

BTW talking about empty campaign promises I am still waiting for my 10% tax reduction Trump announced before the mid-term elections-when do we start getting it? I haven’t heard anymore about it.
Agree. And an awful lot of people go to school for the social scene too. I’m not denying that college is a good segue into adulthood, but the main goal should always be preparation for your career path. We’d see even more people in college that don’t belong than we have now.
 
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Bernie is full of crap if you can go to school for free and major in something easy who wouldn’t sign up for it? You could almost make a career out of going to school.

BTW talking about empty campaign promises I am still waiting for my 10% tax reduction Trump announced before the mid-term elections-when do we start getting it? I haven’t heard anymore about it.
That's not the way free education works. Living in a place that has 'free college' you are only limited by your intelligence and effort.

If you get good grades, many options are available to you, if you struggle, your options are much more limited. You have to apply and be accepted to all programs after high school (and before if you choose certain options) and there are no guaranteed places.

You education is only free as long as you qualify and are accepted. My son is entering 8th grade next year and things start getting much more serious. His age group is huge as after the revolution many women that would have started a family in their early 20s put it off until their 30s. All the kids born around 2005 +/- are in a crowded field. He will have to have excellent grade to get accepted into the top Universities.

There are numerous options available for all levels and interests, but you don't just get to go to university because there is free education.
 
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