Posted on 06/09/2019 4:06:40 PM PDT by reaganaut1
I graduated with $76K of debt (advanced degrees, mostly useless) and the first few years WERE unpleasant, because I’d send a payment of $385 and see only $200 of it go to the debt, and the rest went to interest. That was miserable. So I started paying more than the minimum, and once I got it down about a third and started seeing the amount going to interest shrink, that gave me incentive to pay even more. Near the end I was throwing every bit of extra income I had at it. The day I paid it off, I was euphoric.
I have taught my children this: Going into debt is like taking out the canoe with the tide and bringing it back against the tide.
My experience is that minorities and women have tremendous advantages in obtaining jobs. It is called affirmative action.
*******************************************
Its been that way ALL my working life... and I have to admit to myself Im no longer a spring chicken. Will it EVER end?
Part of what you say is correct. However, the data from years ago show that black female college graduates were actually making a lot more than a white female. That makes sense, if HR hires a black female they can claim two categories, black and female.
I explained the need for living below one’s means to my indebted son. I helped pay off some of his credit card debt, but his applied OCD did the rest.
Can’t blame it on the melanin so it must be the work ethic.
You are so smart!!! I wish more people were as smart (and good looking) as you are!
My thoughts precisely; did they measure propensity to take a second job and work nights & weekends?
Two jobs ago, most of my coworkers were black women. Every single one of those women was working 2-3 jobs (60-80 hours/week). I'm just sayin', I don't think an unwillingness to work multiple jobs is the problem.
The real problem is that students today think college is so important, they're willing to go tens of thousands of dollars in college debt. Young people are convinced that a college degree is the ticket to paradise. Today, a college education costs as much as a house. And students are gambling all that money away on degrees that might not even get them jobs.
Could it be that different cultures have different propensities to save?
Black Womens debt is increasing. This means that they are not paying in any regular disciplined fashion. It seems like they are hoping the Dems get in power and forgive the loans as part of reparations. It has been talked about and an urban legend that can come true.
In the old days (even back in the 1980’s and 1990’s), we could work through college and graduate without debt.
Today many colleges charge around $50,000/year now.
The “affordable” state colleges might charge as low as $25,000/year. Even then, if a student borrows all that money, he’ll have $100,000 in debt by graduation.
But, a student still can graduate without borrowing any money. Either by scoring high enough for a full scholarship. Or, by commuting and taking classes part-time. That’s what all students should be doing. Not going into debt for college.
Part of the problem is that young people think that a certain degree will get them a good job in that area. Colleges and universities should have to fully disclose what a degree will get the student and what the likelihood is that they will get a real job. Then they can figure out if it is worth it.
Cripes, i paid off my loans in a few years. I made a point to double or triple pay them, I made it a priority to get out of that debt.
When was that in the 1980’s??? LOL
I am also guessing that the degrees white guys were in fields that pay more than the degrees black women received.
All I know is there were very few blacks that made it through engineering school with me. Almost all the ones that did were foreign students.
yeah a bit after that
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.