Posted on 12/14/2011 6:54:19 AM PST by suspects
Dear Massachusetts Moms and Dads:
When your kids come home from college this Christmas season and you’re gathered around the tree in the warm glow of an open fire, take a moment to lean over, put your arm around them and ask: “What the hell are you thinking!?”
It’s called the “Higher Ed Bubble,” and it’s about to burst. For years the costs of college have been rising much faster than the rate of inflation while the vast increase in the number of degrees — particularly low-brain-wattage bachelor of arts degrees — has lowered their marketplace value.
As a result, that little bundle of joy of yours is building up around $25,000 in student loan debt, along with an average credit card debt of more than $4,100, and for what —the chance to move back in with you after four (or five or six) years of college?
According to the National Endowment for Financial Education, 59 percent of parents said they have been or are giving money to their adult kids. About half (!) have had their kids move back in with them.
I knew when I left for college that I was never moving back in with my parents (particularly after they changed the locks and stopped answering my phone calls). But it’s different for Generation Cupcake. They look at Mom and Dad’s house as their “home until I get a home.”
As a result, when your kids come home for the holidays to once again raid the refrigerator and trash the game room, it won’t be a glimpse of Christmas past as much as a vision of your future.
But no one seems to ask “Why?” Why did you send your little snowflake...
(Excerpt) Read more at bostonherald.com ...
It is a 'Brave New World' we are looking at.
Thanks, I’ll have to remember that. Griggs vs. Duke Power
Sorry, I was just joking. Wanting to find fulfilling work is kind of a funny concept. Those jobs are for the tattoo earring crowd which I doubt your kids fall into.
When I went to grad school the tuition was ~ $50/hr - paid by my employer.
“Hey Generation Boomer, what was that about the whole ‘tune in drop out generation?
At least we’re working and we aren’t out promoting the counterculture or whatever such nonsense. What, have you finally found yourselves?”
The hippie freaks were only a small but vocal minority of Boomers. The vast majority were like myself, who served our country in time of war, went to college on the GI Bill, got good paying jobs, got married and raised families, paid our taxes, obeyed the laws, voted Republican, saved wisely and retired early.
Already 24 years of Boomers. It’s like when Kennedy won, Kennedy and HW Bush were both the same generation as Kennedy. Hard to believe.
They had those folks in for 32 years. Just 16 years separated LBJ from HW Bush.
That means, we’ll likely see another 8 years of boomers. *sigh*. Really discouraging.
I was hoping we’d get a good president this time round, but it doesn’t look to be the case.
“The hippie freaks were only a small but vocal minority of Boomers. The vast majority were like myself, who served our country in time of war, went to college on the GI Bill, got good paying jobs, got married and raised families, paid our taxes, obeyed the laws, voted Republican, saved wisely and retired early.”
Doubtful. Just as many boomers voted for Obama as for McCain. If these folks were a vocal minority, he never would have got elected.
It’s clear to me that while some boomers are hardworking decent folks, that doesn’t apply to all of them or even a majority, sadly. This is why this nation is falling apart.
Boomers had their chance. Time to look past to see what someone else can do. Hopefully, much better.
I told mine starting at age 5 to get scholarships, which for the most part, they did, save number one, who disregarded my advice, and who has his own debt to show for it. Otherwise, three will get through with no debt. It is possible.
While I value my education, and what it has done for my kids in terms of critical thinking skills, I agree with you, and further think that apprenticeships ought to be reinstated - especially for law.
Given your screen name, I hold your opinion in great esteem! And I agree - there’s something to be said for having to have the training wheels on. I clerked most of my law school “career” and it was invaluable.
Given your screen name, I hold your opinion in great esteem! And I agree - there’s something to be said for having to have the training wheels on. I clerked most of my law school “career” and it was invaluable. Of course, that was when “cut and paste” meant cut. And paste (well, scotch tape..)
I came home from college and my graduation present was six months rent free. That went by fast....
It is, even if they go the ivy league route. From 4 years of tuition that was well over $200,000, my daughter graduated with just $9000 in student loans. Scholarships covered the rest. She already had a job lined up, moved back home for 6 months, and when the loans came due at the end of 6 months, wrote one check and paid them off. But nobody handed her anything. She worked her tail off for those scholarships and earned the education she got.
Do you get and read the online ABA journal? It’s hilarious (intentionally or not) and my fav email of the whole week. On a more serious note, they have recently covered law school accreditation/over-pricing/over-promising fraudulently to applicants, and the pathetic market now for JDs.
For all the yakking about what degrees are worthwhile and which are not, I think a bright, ambitious person with a solid head on his/her shoulders will end up doing okay. One of mine took a major about which a neighbor asked: what will she do with THAT? Well, just a few years out, THAT degree has provided her a five-figure job that she absolutely loves and would do for half her salary. It helps to pick an area of study that really clicks with the student’s abilities and interests.
My kids tell me most the kids in school with them are way left of center dems that don't actually have a clue how life really works.
I always remind my son that when I was in my first year at Penn State, my number came out in March, #31 and they took up to 95 out of 365 in those days; deferments until the end of that current semester. Needless to say come Jan 2nd, I was on my way to Ft Dix, and within 6 months overseas; but it actually made me the conservative person I still am. Reason is I saw the filth, poverty, violence, and lack of the freedoms we take for granted. Coming face to face up close with leper beggars will make ya think pretty quick. So, ya know, even with all the problems; we are truly blessed right here in America and never forget that.
Something else, been married 27 years, made more made less throughout all those years; it has never had any bearing on our happiness. All the toys don't amount to much in the end, only family counts when you leave this earth. Keep that in mind and you'll end up fat & happy.
That was smart, and good parenting, no doubt. If college is not an investment, if it does not more than make up for the lost earning years, then it is not worth it. Clearly, your family had the right idea. Too many use college to postpone adulthood.
A docent at Williamsburg once told us that Patrick Henry, with 4 kids, and failing as a farmer, and desperate for a job, took a copy of Blackstone and whatever the colonial statutes were home to study. He returned in six weeks to challenge the Bar - so quickly that Jefferson, who had been ‘reading’ for the law with John Wythe, and paying for the privilege, was irked, and the rest of the Bar were unwilling to allow him to even test. However, Patrick Henry passed the Bar at Williamsburg, and ended up giving his famous speech at the ripe age of 27.
I just want a good steady job where I don’t get hired and then let go after 6 months.
That would be heaven to me. I know it doesn’t sound like much, but my career hasn’t had 6 months in one place full time.
I have cobbled a living out of working for myself, contract work with others when they need me, etc, but full time? Nope.
As for the draft, nope, not an option for me. I’d be rejected due to health concerns. I have a disability that would make me a danger to the other soldiers. So, not a whole lot I can do about that.
Thanks for your kind words. I am just frusterated with the older folks who should get it but seem bound and determined to bring everything crashing down. Then they lecture me. “When I was your age, etc”. Yeah, we get it you could get a full time job in the mill at 18 and be set for life. Doesn’t work that way anymore, sorry.
Yeah, I get it, me not supporting the unions that are screwing us over means I won’t get work with them. Yeah, and I should join the teacher’s union, becuase, why again? So I can teach what I don’t want to teach and fork over my hard earned dollars?
I didn't like getting drafted actually, pulled out of PSU after my first year, and then my life (education) being delayed for a couple years; but part of being an American for most of us, ha.
Wife and I both have our teaching certs and have taught off and on over the years. Actually teaching slots are not a dime a dozen unless you teach in a dysfunctional village or inner city ghetto; where most would not enjoy. Usually teaching positions begin part time then if you work out move into full time. Teaching isn't a piece of cake anyway as many on FR do believe. Don't ever get to thinking you wouldn't join the NEA (which is the unwritten law) in order to land a teaching position. Thinking like that will make you awful hungry for a long time. NEA takes over 100 bucks/month from us, but if one attempts to quit; they will lose their teaching slot pretty quick;;; and we live in a very conservative state. People preaching the converse, don't have a clue about reality, no joke. So if you can open some doors by jumping through all the hoops to get your teaching cert, do it; probably will lead to something better.
One last idea, always remember the only security you actually have is in yourself; develop it and you'll do just fine; good luck.
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