At 7.99% (as far as I remember, that's Canadian student loan rate.) a $100,000 degree will end up costing about $146,000!
I've never had a beef with education, and I respect anyone who furthers their knowledge in the pursuit of higher learning and contributes to the world. I've just never agreed with the expectation that people should have to pay 1.5 times for a gamble to access better paying jobs.
The strange thing about this gamble is that the house always wins and people keep showing up because they believe that it's the only option.
If post secondary schhols were actual casinos, most would have been burnt to the ground long ago for fixing the odds.
I'm not anti-education. I just think people deserve a better shot for dedication to the pursuit of knowledge in the service of others and desire to contribute their skills to a society that benefits from their labors.
If you're going to school despite the odds, I applaud you for your unyielding passion in the face of what can seem like an impossible feat.
Go boldly into the great unknown, for the future is full of possibilities to all those who relentlessly pursue their purpose. The struggle is also very real and my inbox is always open.
Much love, ya bunch of beautiful humans.
Though you're right when it comes to the numbers, it can also be much cheaper! I have never taken a student loan and never will. On the other hand, I've always worked while getting my education except for one semester in my life. I saved up all summer to pay for my first semester living away from my parents. I lived off of $7.17/week. This was in 1999, so I'm not talking 1960's numbers. It was a pittance! My rent was $375/month, but that's because I had one bed in a bedroom with another guy I didn't know, in a unit of a triplex with 4 other guys I didn't know, with 6 other guys in the rest of the triplex I didn't know. The landlord was raking in dough!!! I spent $1415 on a semester at a school where I got $500 in scholarships from my high school. My mom gave me $500 when she dropped me off with my bike and bag and said, "Good luck, I love you" and probably a few more words, but not many more before she drove 8 hours back home without me. Fast forward 21 years, I'm in my master's program and still have not been charged a dime in interest to a student loan.
My point is that school can be done with less if the student is wise with their money. Too many parents are not teaching their kids about finances, so they go off to schools to pay amounts of money they've never even dreamed of having in their bank accounts prior to graduating high school, to get degrees in whatever subject matter would be easiest but has no bearing on anyone's lives, all to say they got a degree...I know this is not the majority, but it definitely represents too many.
The community college I went to cost $11/credit hour when I first started (California subsidizes the tuition for community colleges in California). By the time I left the community college, it was about $30/credit hour. When I went to a 4-year school, I enrolled in a program that gave me a $100 discount per credit hour, making it $69/credit hour for the rest of my tenure, as long as I stayed in good standing and kept taking classes. That's super cheap. I got my Bachelor's for less than $10K and graduated Cum Laude. I'm doing my Master's program through a school that allows you to work at your own pace. I did my first class in 9 days. For the school I'm attending, you get 6 months for $3500. I was able to get a scholarship of $700, or 20%. If I go at the pace I did at my 4-year, I'll be done in less than 12 months. Compare this to some of my family and colleagues who spent $250K-$400K on their degrees, and now I don't feel so bad when I compare my income to theirs. They have, essentially, 2 house payments while I have one. The extra $20-50K/year will likely make up for it, but the interest you spoke of as well as additional taxes makes me right on par...
Great post to make me rant :)
That's some great perspective! As a rule, I don't like to generalize, so my numbers are loosely based on the cost of a university degree at one of the top schools in my country and province.
It sounds like you've been serious about keeping your costs down and balancing the cost vs post degree rewards. Way to take charge of your own desires to learn and pursue what matters to you!
I'm sure many would look at my educational experience like a leisure ride because I didn't get a degree, but I took programs that challenged my intellect and personal abilities and fuel my passions to this day. For a hot minute, I felt burnt by the fact I'd made choices that left me with debt and without a degree. It didn't take long to realize that a piece of paper would have made little difference in my journey and I'm grateful for the lessons.
Two trades and a multitude of work experience, combined with my cherry picked education has given me everything that I need to self educate, problem solve and to be the architect of my own life.
I'm not completely against the idea of pursuing formal education in the future, but it'll likely be for the pursuit of knowledge, skills and relationships rather than to attain an accreditation. To ask someone for permission to achieve or to acknowledge the discretion of others as a valid way to allow my growth or potential to be determined is no longer a consideration.
I'm extremely happy that my dreams don't require me to attain specific accreditation to pursue them with passion, purpose and posterity.
Education though- I will happily pursue education to the very last moment I can muster the thought "what if?" and follow it through with the multitude of possible solutions.
Thanks so much for your thoughts. It's really great to hear from someone who's experience differs so much from my own.
I had often told my wife early on my educational steps that I didn't need a piece of paper to know I was smart 😁
While I still believe that to be the utmost truth, I have also seen doors open for me because of that stupid little piece of paper (I know it's not stupid...I'm just frustrated at times on the amount of time I had to spend to get it...I laugh to myself because it's easier than crying...).
I came close twice in my twenties to being able to retire based on my investments instead of having to work for someone else my whole life. Both of those opportunities closed without my ability to see them through, but I have rolled with the punches and made the most of what I had available to me. When I did finish my Bachelor's degree, I did 2 years worth of work in 1 year (60 credit hours in 12 months). It was hard to do with 5 kids and a wife who needed my attention...again, like you, I'm thankful for the things I did learn along the way.
I love your attitude of pursuing passion, purpose and posterity (though I'm guessing you meant prosperity...unless you did mean you want kids in your dreams...I have 5, so I'm not judging 😀)! You have a great perspective on your future...had to continue the alliteration lol
Good luck and God speed!
Thanks so much for the response. I haven't been very active here lately, because I've been busy pursuing things that need my attention.
Rolling with the punches is the only way to keep going. Push through the punch and ya get KO'd. If you roll with the punches and get knocked down, at least you have the opportunity to get back into the fight.
Bruce Lee said it best. "Be Water". Water breaks upon the rocks and rolls away to split mountains apart another day.
Many blessings to you and your family!