College Loans Are Crushing Gen Z
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- Опубліковано 26 чер 2024
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With inflation rising and students taking out loans they'll never be able to pay back, Gen Z is realizing that they've been lied to their whole lives about college. Let's talk about it.
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I worked in college admissions for 5 years. I have seen hundreds of students get into debt who never should have been accepted to college in the first place. They were only there for 1 of 3 reasons - 1. Their parents made them, 2. They worshiped sports and would've done anything to be able to play ball, 3. They followed friends/significant others. College needs a reformation.
Exactly, when I looked at colleges decades ago, I considered playing basketball. The schools that were recruiting me to play could only offer so much and was 50% larger in tuition than other schools I looked at to only study. On top of it, the academics of the sports schools were 100 times worse.
The job market cannot employ a talentless individual just holding a title.
I have a doubt, $16 an hour is roughly $3000 for 24 days a month. Is that low in America? Because here that's a lot!! The economy got so bad?!
And bachelor's party, don't forget that one.
@@PeaceOz_introv. Yes, in a big city that's close to your monthly rent fee.
My four kids have all received the same speech. “You are not going to college to figure out who you are and what you want to do. Get a job, grow up, figure it out and THEN if you need college we will get it done with purpose and goal” they have all took my consulting and my 24 year old has been working since he was 16. He now knows what he needs to excel in his career choice and is starting college this January. Be mindful! Be wise young people.
We were just having this conversation about our daughter. She's 15 and there is a bakery that is hiring part time 3:30p - 6:30p 3 days a week, no weekends. Sweeping floors, doing dishes, taking out garbage.... you know the normal clean up at the end of the day. I'm highly supportive of this, when I was 16 I worked in a restaurant bussing tables, doing dishes, prepping the house salads and other cleaning tasks. Once I got a better job I was so greatful, I would do anything that was asked of me.
The kids these days that don't work at all, go to college and graduate with an underwater basket weaving degree only to end up working in a restaurant are upset. Obviously this isn't every kid in college, I know a lot of mid 20's engineers with great jobs. In the meantime I have 8 years of job experience under my belt and companies are going to hire me over someone fresh out of college with zero relatable experience.
I feel bad for the kids that got bamboozled by the system and now they are in crippling debt with no job prospects.
Yessssss! I stated working while i was in high school!
If I were not a college athlete, I would not be in college
> My four kids have all received the same speech.
Holy shit, quality parenting.
You are the exception of parents these days. I also said that 15 years ago with my kids. They did go to college but choose well for their career paths. All successful and never asking for help from good old Mom and Dad. Also never asked for someone ekse to pay their debt. Colleges need to be reformed.
I went to a community College right down the street from my house. I lived with my parents for those 4 years and graduated with my degree in Nursing. I graduated with absolutely no debt. I was so grateful for that!
That’s how you do it 👏👏👏👏👏👏.way to go !
May I ask you how you are liking nursing? It's been something I've wanted to do for a while but I feel like everyone warns against it nowadays. It's so scary because I don't want to make the decision to go forward and regret it.
@@ricoflash62692nd this!
@@ricoflash6269 Private clinic should be your goal. That is where you can make bank. $$$$$ Hours are a little better to. No 100hr work weeks more like 60hr work weeks for those who are ambitious and want to save.
nursing is the way to go
I fell into the same trap. Everyone told me it didn't matter what degree I got, there would be a job on the other side waiting. Yeah.... I was a stupid kid, but I had smart parents. Managed to scrape by with minimal debt. Now I tell anyone who is considering college how much more they could be making in a trade position. Seriously, a journeyman electrician makes a stupid high salary. There are so few of them now that they can pretty much charge whatever they want.
I went into trades, paid off fine.
Im an account manager for a construction staffing company. We pay $20 an hour for electrician helpers, which is 0-2 years of experience. If you're a journeyman willing to travel, your per diems could be $150 a day alone. That's $750 a week plus about $31 an hour. With per diem (untaxed) and hourly, thats 104k a year at only 40 hours a week. Get into trades guys and girls.
A lot of those per diem actually are taxable. The companies aren’t following the rules. Better save up for the IRS audit because they will assess back taxes, interest, and penalties.
@@katiez688per diems are used for travel, lodging, food, and daily necessities involved in travel. It is not taxed if used for those purposes.
From experience i can tell you electrical is not “easy” and its still just mostly manual labor and hard on your body. Be a doctor instead.
This is the same issue Millennials are facing. The education and lending system deliberately shammed us. So many unnecessary classes, fees, regulations. It’s ridiculous.
No you weren't. How many people told you not to go to college? How many times? How many people did you hear say their degrees are useless annd strapped with loans? But you went anyways. So after you saw the fees the first semester, you kept going 4 more years?
How many kids show up, sign up for these loans, without any research especially about paying them back? How many went into fields witdoing the research to see if there was any employment available in the first place, and what are the chances of being hired?
They should bring back paid internships. Most careers can be taught this way, including teaching which requires a masters in almost every state. Maybe students have an interest in art history or music appreciation but let’s face it, it doesn’t help in most careers and you shouldn’t be required to take 2 years of crap you don’t need.
@@Nylon_riotI might just be speaking for myself, but as a millennial, my parents told my I should go to college. Most of my friends were also told the same thing, that getting a degree would be the best thing because of the ability to specialize in one area, making my knowledge and skills more valuable….
Are you single?
@@Nylon_riot are you single?
Yeah, they won’t give a 21 year old a $25k auto loan, but will hand out a $100,000+ loan to a 18 year old.
They dont give it to them.
They sign for it.
I know several people who went to trade schools and were "given" loans for $100k+ to pay for trucks, facilities, and equipment in their early twenties. The difference? Real, tangible, marketable skills and low/no debt, instead of a worthless Liberal Arts degree coupled with a mountain of unforgivable debt. STEM and trade certifications are far more likely to set you up for a successful life than the vast majority of college degrees.
@@Noah_E For real. I went to trade school for 15 months and got an AA in electrical technology. Ended up with $12K total student loans and working full time at 20.
@@Noah_Ewell first step is not having a liberal arts degree
@@Noah_E Other than engineering most STEM degrees now require at least a masters to get a job i the field.
The overwhelming majority of the blame is to be placed on parents, who have done nothing to educate their teenage children about the risks of attending university and the likelihood of getting certain jobs or the path they'll need to take to get there. My father's advice to me was literally nothing more than "Get that college degree, son". I, as an 18-year-old who had no access to tables of data of median salaries for professionals in various fields and no knowledge of which jobs do and do not require a degree, could not have made an informed decision about whether or not college was right for me. All citizens also need to place extreme pressure on their elected representatives to end the government-subsidized student loan business.
The problem is not college education, it is useless college education, or at least over supplied college education. If you pay attention to unemployment rates and starting salaries for the education you take you are probably going to be ok.
@@KimMilvang Again, that data wasn't available to the average person 15-20 years ago. Things might get better with the internet, but most Americans are not data literate anyway, so I expect the problem will continue.
Ngl at least at my school there’s a huge bias when it comes to college. An example of this was during my advisory class we spent a week at looking at different majors and colleges (not community ones I think.) However when it came to trade school programs or other opportunities graduates could take, it was barely mentioned. I wonder if other schools across the states have that same bias 🤔
I would like to offer a little bit of defense for some parents. My wife and I told both of our kids that we expect them to go to college. HOWEVER, we also assured them that WE would pay for it. We encouraged them to pick a valuable educational path, something that would serve them well in the marketplace. But we, the parents, had the means to pay for their college. College is a great opportunity for learning and growth, or it USED TO BE. But we encouraged our kids to go to college WITHOUT the risk of massive debt. Huge difference.
Bingo.
I started a business straight out of high school when I was 17 and everyone thought I was a failure for not going to university especially because I had good enough grades.
I bought an apartment at 20 and now I've just bought a house at 24. So so so glad I trusted myself and didn't go to college.
Same. I started looking for jobs on the field that I was interested in while still studying, because something people forget is that is also about making contacts and putting yourself out there so people know you and remember you when they need something you can do
🧢
What industry was the business in?
@@timtalks6080 Fitness. I teach group fitness classes and yoga. I'm also a musician and play gigs on weekends
My school just made college seem like the only next step, or we would be working at McDonald's our whole lives. They made college after high school seem as normal as middle school after elementary school. We were told that high school was designed to prep us for college. Its so sad seeing how many people have wasted time and money on a degree they don't use.
I had the exact same experience. Teachers would literally say that we should get any degree and shoot for the most prestigious schools because it's an investment that will pay for itself.
Did your school tell you that a Master's in Lesbian Dance Theory was a marketable degree?
I almost didn’t graduate highschool because i refused to do the college prep class required by my state
@TehFlush We wonder why every movie character seems to go to Harvard (product placement!) They're all advertising the same as coca cola.
@tehbonehead No but they told us it was fine to go in without a major. It would be fine😮
A point Matt Walsh makes a lot is that a ton of the blame for the university situation actually falls on employers for using college degrees as a way to whittle down applicant lists and make the hiring process faster, even for positions that absolutely don't require degrees. The sooner we get away from this ridiculous over-reliance on college as a shorthand for merit, the better.
America only has colleges. There are no universities in America, only colleges pretending to be universities.
I share this belief. It is just gatekeeping at this point.
Agree. But also, having a degree makes you overqualified for entry level positions.
so how else would you shortlist? just hire the white traditional man i assume ..?
There's good news on the horizon -- companies are already starting to drop the degree requirement as they see how oversensitive and utterly incompetent today's college graduates are.
Hi Bret. I’m proud to tell you and everyone else that I went to a my local community college (loved it more than Uni), transferred to my local Cal State, and am now in my first semester of my teaching credentials. And the best part is I did this all DEBT FREE. I still have never pulled out a loan, I’ve worked my little booty off at multiple jobs to pay for tuition, and while I’ve have many mental defeats, I can confidently say my ego is thriving because I put in the work!
My mom gave me two amazing words of advice growing up: never smoke and never take out student loans. Following that advice has done nothing but positive things for me.
And what about drinking alcohol?
@@menartd2618 weirdly enough she's fine with me drinking alcohol, but both my parents are alcoholics so I avoid it. I have an addictive personality and I'm aware of it.
Yes. Finally someone else said it. Once the feds started giving out money, colleges pushed tuition to unaffordable levels. I went to a state university for 3k a semester in the 80’s. My kids tuition was closer to 25k. Thanks, Brett.
Same. My 1st degree in 2000 was $1,600 a semester. My second in 2007 was more like $7,000. Students I worked with in 2017 were paying $25,000.
Indiana University tuition was $1,200 a semester in 1993.
Do you mean to tell me that you're old enough to have adult children and you have done NOTHING in all that time to pressure your congressman to get the government out of student loans???? You can't possibly be that irresponsible and whiny, could you? Oh, wait, you're one of those people who thinks watching a video about government malfeasance and complaining in the comments section absolves you of responsibility.
I don't wanna show off but in Germany you can study for less than 100 €/month (ca. 110 $)
@@smeagolbaggins True, but every 40 years or so you have to rebuild your country from scratch. I am sure those troops of yours in Lithuania are nothing to fret about.
Parents are utterly failing their children by sending them to college. If you're not a doctor, lawyer, or engineer, you wasted your money.
Even these jobs don’t pay what you need to and they were oversaturated
@@MajimaBestYakuzaaa where in Canada? And for what type of nursing?
@@MajimaBestYakuzaaa that's good to hear. Hopefully they extend that to other provinces if they haven't already
Doctors, yes, Engineers, yes, lawyers? that's literally the most oversaturated field in the US.
Source: I'm an Engineer, i can afford whatever the f-ck i want.
No your wrong because if people did there research you would see that these jobs pay really good starting and mid career pay is excellent
My brother-in-laws both went through a trade program where repayment was based on a percentage of their salary over two years until they had repaid the cost of the program and it only started once they were making at least $50k. It incentivized the program to help the student find a job. Both brothers are killing it (6 figures) and have fully paid it back at 22 and 25.
Would you mind saying which trade?
Nice! Which trade are they in?
This is similar to the UK university loan - you only pay it back over a certain salary and then it's a percentage above that that's automatically deducted from your wages.
Mechanics, Maintenance fixit people, plumbers, electricians. You know. The people that make the world go round. Imagine living without a car. You MAY or MAYNOT have to go to the doctor, but in this world, you most definitely need to drive your car or have electricity running through your house.
Ask politicians to stop printing dollars and to lower taxes. Things will get better.
I hate when I see people putting the blame on Gen-Z for things like this because for our entire lives we were told to go to college and get a degree but when it doesn't land us in a safe financial situation we get told we should've seen the warning signs of how college can screw you. Most people applying to college are 16 and 17. You are telling me that we should've seen the warning signs and found another path before being able to drive?
Damn right
The parents and schools are the ones at fault for not giving the children a proper education teaching them how to read, write, do proper math as opposed to that common core BS, balance a checkbook, think rationally and logically, basic sciences, etc and its the parents fault for not teaching them morals and ethics so for the most part you can blame the parents and the education system as well as social media, the propaganda machine called mainstream media and unrealistic demands and expectations from not only the kids and the parents themselves but the employers as well
Yes. Yall cant think for yourselves and have to be told what to do.
Yes. You should be expected to make responsible choices and be accountable for them.
Newsflash...Gen X was told these exact same things. Before you tell me that tuition is so much more expensive now...I worked 40 hours a week during the summers since I was 16. I also had part-time jobs during the school year. I saved nearly all of the money I made. By the time I went to my 1st year at a state school, I had enough money saved to pay for 1 year of tuition. JUST TUITION. My dad had to pay the room and board. We didn't get paid $15 / hour to flip burgers. I worked a manual labor job for $3.25 an hour. I think the big difference might be that most of the people I went to school with majored in worthwhile degrees. If there was a ton of super useless nonsense degrees in the mid 90s, I wasn't aware of them. I never met anyone who was majoring in Gender Studies. Also, since they decided to let every moron go to school, EVERYONE has a degree now. When everyone is special, no one is.
The other nice thing about community college is that you don't have to take the SATs or ACTs. I had so many people I went to high school with stressing out over these tests and when I told them I wasn't taking them they were shocked. And then I was able to transfer to a 4 year university with never having to take an SAT or ACT.
That’s what I am doing
Wow I had no idea, I wish I had known this
It only works with so many credits, usually 30, and transferring in-state. Since I couldn't afford the tuition of a university, I knew my best option was community college. Luckily, my guidance counselor told me the benefits of community college and he listed the lack of SATs and ACTs as pros.
CCs aren't cheap in many states. Tuition/fees is also misleading. I took everything I could at a CC but still have far too much debt. It's not a solution. While I also respected my teachers there, and I went to more than one CC, the education quality is not the same. The difficulty in material, resources, experiences, opportunities are just not the same and it doesn't prepare anyone who isn't from a particular background for a 4 year university.
They'll let anyone with money get in. Which is everyone, since it's government backed loans with 0 risk to the bank "issuing" the loan.
I had a friend that was going to school to be a nurse and she was talked into going into a big university. I myself am a nurse that went through community college, and tried so hard to talk her into the community college route because unless you're going to be a nurse practitioner you're income will not justify a university. She ended up going to the university and was floored by how expensive it was.
Our daughter just finished the RN program from Community College. We are so excited for her. We were able to afford her college. She and us are debt free from loans. At the beginning she wanted to go to a different school. She came to terms with the fact that community college was the best route. Since we didn't want to get a loan out for that other school.
I had talked to her and told her yes, university might be a great option for certain careers, but nurse, teacher, etc. Community College might be the best financially. I gave her many examples of my cousins going to certain schools for certain careers and if the outcome (salary) was worth it. We are so happy that she can move on and worry about passing her boards vs. worrying to pay off debt.
EXACTLY --- I have a high school senior, and we are carefully planning her college journey. First things first --- choosing an affordable school and not going into debt.
When I was 10 yrs old, I asked my parents, how to avoid being poor.
Answer: A free Engineering degree from a #1 university.
In 1980, I graduated and took an overseas job,
Tropical diseases and light sniper fire
For ~$100K/yr and all expenses paid
Good job!!!
@@aolvaar8792 That was the 80s though, today its .....SHIIIII***** Plus if your a white male good luck with that now.
I'm a millennial and my friends who went to college are still being held back by their loans. Have one friend who spent $80K to get a degree in air traffic control, only for the FAA to remove the degree requirement right after he graduated. He's now trapped in the job which makes him miserable because his loans are over $1K a month. Another friend has a masters degree and loans she's still paying in her 30's, but makes the same money as I do with just a HS diploma. I started working in call centers in my early 20's, and just upskilled and got more experience and now work in HR. My lack of degree has never held me back.
I'm a millennial and went back to college late in life only because I kept getting turned down for jobs because of my lack of degree but also couldn't find normal work that paid a living wage even when it was full time. I now have a degree and a job that I had the skills for when I was about 14 but the degree is basically why I got the job. It's a shit system.
😄 🤔 'Cake is a lie" 😆 Why college cost so much ? To creat elite 😂 DEMOcRACY in US dont excist and there is no equal right for everyone. 🤣 Cost is so high bcs aftere then will be no so many coolege grade ppl without work. 🤣 And only rich will keep power and money. 😆
You are comparing yourself to the unsuccessful so of course you will win. Try to compare yourself with successful college graduates. Most people I know which college degree make , $150k/year and more. Not a lot of HS degree people make that
@@annat6249 Im from diffrent cultural cyricle. 🤣 Europe > Poland. In our country college is for free. And we have about 6 milions from about 38 of all ppl living in PL college graduate and that still men nothing. Education is just one big fraud.🤣 Before internet or AI maybe, but now its a big waste of time or just a big party time then u dint waste a lot of time in your life. 😆
It’s crazy how many millennials didn’t realize you could just work and get promotions . My husband is 28, he makes more money than a lot of people with degrees just bartending/catering . He’s doing a certification program right now so he can get out of the restaurant industry, but it’s paid our bills our entire adulthood. We both became managers in our jobs at 20 years old and moved out together at that age. We were so far ahead of all of our peers , they were just goofing around in college then, most of them not working at all
I am a millennial that did not succeed at college, and I have to say that this is a situation where there is no right answer. If I had gone all the way through college I would be drowning in debt, but not getting a bachelors degree gives companies the excuse to either not hire you or pay you well under what you are worth. I spent the better part of a decade trying to get a good paying job based off my experiences, and most employers that I went to wouldn't even talk to me until they finished going through the candidates with degrees. It is the most frustrating feeling having 20+ years experience in your field, and dozens of certifications in your field, just to be told they want someone with a bachelors or better. Change needs to start with the hiring process, stop demanding degrees and our children wont have to worry about bankrupting themselves at 22 years old.
20+ years of experience with no degree?! That's insane. I don't understand how someone wouldn't hire you with that many years of experience. Good for you that you're not in debt cause of college. Wish you the best👍
I am gen z and there are so many jobs available that pay very well you just have to look at the market and see what's needed. In my opinion people are lazy nowadays and don't want the responsibility that it takes to have a higher paying job. My fiance is a truck driver making 6 figures a year he's tried getting people to join his job and he either gets excuses as to why they wouldn't want that responsibility or the guy has a kid and the wife is the breadmaker so he doesn't have the ability to better his career cuz who's gonna watch the kid both parents are too busy.
Also, stop insisting on the famous, popular schools. I earned my first BA for $20,000 or less and I’m earning a second for about $24,000. It’s quite doable, but people think the “experience” of going to an expensive school and getting that brand name on their resumé are important. Live at home, stay out of trouble, and save a buttload of money. Most of the time, the school name is as unremarked as your 4.0 gpa. (And that’s coming from a 4.0 gpa…)
My husband is in a similar situation. He has completed some college classes, but has over 15 years experience in his field. He has more experience and knowledge than his higher ups. He has tried to move to other positions in his company, but the positions go to people that may have the degree but no experience in the field. They make changes and my husband has to tell them that won’t work because xyz . He is constantly training the higher ups. He is looking for other opportunities and they will be hurting in a big way when he eventually moves on.
totally agree! the digital age and volume of applications means they only scan the resumes for key words and ignore the actual person.
I remember a teacher I had in junior high laughing at us when we asked “ sir why is uni so expensive was it as expensive when you went to school”
He laughed and said. “ we actually protested that it was too cheap and too accesible to the masses “
💀I’ll never forget that.
Hope they go bust. But knowing what happened in '08 they'll just get bailed in and the tax payer will have to flip the defaulted debt.
So instead we made it too expensive but still too accessible to the masses.
Never been happier that my husband and I both joined the military out of high school and now do not have any college loan debt.
Most people that go to college nowadays value “the college experience” over their education and are willing to take on debt to have a four-year party away from home. Most degrees are completely useless in the real world, but they make for easy choices for those that want to coast through school and drink every day.
Oh my gosh my cousin is living in the dorms rn because of that (I'm in an apartment at the same college but I'm paying quite a bit less (no meal plan)) drives me crazy. Also going to college without a plan and major picked our is crazy to me
Yup. That's why I have pretty much no sympathy for any of these people crying about student debt. I'm Gen Z and I figured it out, I made the responsible choice to do community college and then transfer into an actually worthwhile degree (computer science), why didn't you (hypothetically speaking)?
@@LargeGamer1 Because we were lied to. You do understand that it has taken decades for the student loan crisis to be acknowledged, right? You didn’t figure out shit. It’s common knowledge now. It wasn’t always.
I really feel for the young Millennials and older Gen Zs. Colleges prey on the perception of success that has be touted for 30 years in the public school system. Trade schools are good too, my husband makes $80,000/year as an HVAC Tech after 15 years in the field. We aren't rolling in it but it's enough that I'm able to stay home and raise our children in our own home.
I'm starting to believe that even the trade school route has little hope nowadays. My husband went through a whole program for water treatment and has every degree and certification possible, and several years later he still cannot find an entry level job in his field. He's been applying to countless job listings and never even gets so much as a rejection letter in return. Our dream is to live the way you and your husband live! I hope we can find something soon.
80k isn’t good enough anymore. You need to make 100k+ a year to afford the average home. You need to make 60k to afford a one bedroom apartment. I’m not shitting on y’all but Gen Z is REALLY FUCKED. 80k is now a low wage job. It can’t afford what it did in 2019/2020. Cars are 75k now, houses are 750k now we are all screwed 😭😭
Homeschool
except the problem with trades is unless you know a guy you're not getting an apprenticeship, trust me I've tried
@@LucasFernandez-fk8sewhat do you mean can’t afford anything? She literally just said her husband makes 80k she is a stay at home mom in their own home. So they are raising a family, own a home and on one income. If 80k isn’t enough for you to survive, you should move somewhere else. My 1st home bought 13 years ago was 50k, paid it off in 5 years making 50k a year with a wife and 2 kids. Sold it 3 years ago for 80k and paid my next house off. You just gotta start somewhere and work your way up. I make way more now as I got experience and life gets easier. But it is tough
I remember how shocked my guidance counselor was when I told her I wanted to enter trade school to learn how to tune and repair pianos. She questioned me my entire senior year about it.
That's a little more understandable that she questioned since that's super niche but I guess there's not much competition either
Brett is exactly right. There are some careers that require a bachelor's degree, but there are also many that don't. I would highly recommend that people look into trade schools that are designed to get you into a skilled trade as quickly as possible. They are a tiny fraction of the cost of a 4-year university and often have higher earning potential.
That may be true early on, but after both gave progressed in their careers, college jobs overtake the trades. About 15/20 years into your career you can be making well over $500,000 if you went to college for business. Pretty much all of my friends and I did that. I don’t know anyone in trades that has done that minus the ones who started their own business, which is risky because start ups have a very high rate of failure and 97% of the ones that don’t completely fail make next to no money and they get no benefits and no guaranteed income. I had a friend that didn’t go to college originally and was held back from a promotion for 10 years longer because of it. He took online classes for about a decade and then finally got that promotion at age 50 when his colleagues at that level got there around 40. That promotion paid him well over $600,000 a year. He missed out on an entire decade of $600,000 a year and more promotions that would pay him significantly more because he didn’t have a degree. He was the last of our group to clear the $500,000 threshold. The rest of us got there in our 30s or early 40s.
Let’s stop with the ego of attending university, and be content with community colleges
👏
Most community colleges do not offer a bachelors only associates.
@@scottsinger7110 I’m not sure if that’s actually true, but what I do know is that a lot of community colleges offer classes online, so even if you’re not in state or even in the same country, you can take the vast majority of your classes online for your entire education at the price of a community college. I’m studying to be a nurse through my community college, and I can get a bachelor’s through them. It’s perfectly plausible.
Community college is the way to go! Private school stunting on people is the root of the problem. You nailed it.
@@scottsinger7110who cares.
I’m 27 years old and I get paid $22 an hour, building cars on an assembly line for a living. I never went to a big college and I’ve been off and on at my local community college. The fact I’m fairing better then my peers who went to University is straight up sad. The system needs to be fixed.
Same I'm making over $30hr working in computer service. My wife is working in data management and makes over $40+hr, we never went to college for it, and we are living okay. College is nice, but not necessary to be successful.
just make sure to invest in retirement for yourself. my uncle worked a physical job like that and didn't plan to retire but his body is in such bad shape he can't work anymore so it forced him to retire and all he has is social security to live off of
It's not the systems fault. Kids don't go to college to learn they go to party. Stop blaming everything wake up & fix your situation.
@@nicholerinthat's a lie. True for some but not for all. I didn't go to a single party in college and worked harder than most. The situation people are describing is still the norm, including for me. The system is a sham for all the reasons Brett listed. I've lived it and seen it in countless others.
@@nicholerinit is objectively the systems fault. Boomers could be a cashier and afford a house and 3 kids. Gen x could get any college degree and afford to live comfortably. Millennials got liberal arts degrees and had to be baristas, the only millennials who made it went into stem. Gen Z went into stem for the living wages and now we are being called “entitled” and “lazy” for not going into the trades 🙄. The trades paid like shit when we grew up in the 2008 depression. Why is the system setting each generation up for worse failures ?!
I did a lot of stuff in HS: FFA; 4-H, community service, the whole nine yards. Ended up being fortunate enough to receive enough in scholarship money to pay for the entirety of my university tuition. I know that I am super fortunate to receive the funding that I did, but kids need to do more in high school or join other clubs and orgs and whatnot if they’re homeschooled. No pressure of loans, I’ve paid little out of own pocket, and my parents haven’t paid much for me either. So much pressure is put on youth to go to college, but we’re basically just told to take out loans that we don’t understand.
I was lucky that while I was working during my time in high school, a customer warned me about the mistake of college loans. Then when it came to applying for financial aid for college, I avoided accepting any financial aid that was student loans and tried to pay the remaining cost. I was barely able to afford it because I was only working part time. I only lasted for 1 semester because I became burnt out having to work and study and ended up failing two classes. They wanted me to do alot of study hall hours for the next semester or take a semester off. I just ended up not going anymore. Now I'm working a trade job and Im making $25.50 an hour which is more than anyone I know in my family is earning in 1 full time job. I also get the nice benefit of paid holidays, not paying for my own gas to go to work, and being part of outings. It's not always easy, but the hard work does pay off.
Similar happen to me I knew I couldn't afford college and so I went to Commuinty college out of pocket but it was too hard to work full time and study decided college wasn't for me and now I'm so glad I never went
When I graduated high school in 2012, the only thing I knew I wanted for the future was that I wanted to avoid loans. So, I went to a tech school and used a Pell grant, a couple of scholarships, and a credit card to earn an associate's degree in culinary arts, graduating with just a couple hundred dollars in debt.
Here in Tennessee community college is free for two years for new high school grads. We also have TN reconnect to help adults get their two year degrees. I'm not sure how trade school works, but I think under two years is also tax payer funded/free.
same! I went to community college first only because I got a grant and didn't have to pay for anything, so why not? I went to trade school soon after and learned so much more than I did in a regular college!
Credit card = loan
Colleges have become billion-dollar enterprises. I fully support student loan forgiveness if colleges are made to foot the bill. Maybe then colleges will go back to actually teaching instead of preaching.
Brett inspires me.. My parents said if i get 70K followers They'd buy me a professional camera for recording..begging u guys , literally
Begging...
@@namantherockstar no
The challenge with that, at least right now... is that the debt is not being kept by the University.
Meaning, the universities already got the money, the debt in most cases is being held by the government. So, if we forgive all student loans, that debt has to come from your taxes, your Social security, your xyz. So we're punishing those who did not get the degree, to pay for those who did.
Now if the universities had the debt, we would be punishing the right people by cancelling student loan debt... but they are not.
How many people told you not to go to college? How many times? How many people did you hear say their degrees are useless annd strapped with loans? But you went anyways.
How many kids show up, sign up for these loans, without any research especially about paying them back? How many went into fields witdoing the research to see if there was any employment available in the first place, and what are the chances of being hired?
Nobody else is responsible or held a gun to your head to make bad decisions. It is not the taxpayers or the working classes responsibility to pay for someone to be able to make such a privileged mistake, especially when you called that same working class stupid for not taking out those loans.
I support free Government colleges.
As someone who went the trade route and is debt free making six figures in my mid 20s I can say the biggest problem is society and the omen treat us like we’re second class citizens
As a plumber I never saw 6 figures in over 20 years in the trade.
Man, I learned how to weld and STILL the highest wage I've made in that trade has been $21.00/hr
@@Krfification101 I have buddy’s working in Knoxville TN for Y12 and diversified technologies that make $100-130k with OT
@@Krfification101 my friend is a welder and makes $28 an hour but man he works his ass off. I’m in IT and I make the same but I work while sitting on my ass .
I am taking the community college route myself and I can say living at home and doing classes online allows me so much more time to work, save up and be able to learn skills that will be able to benefit me heavily and lead me towards a successful career
I didn't go to college right after high school because I didn't know what i wanted to do and wasn't going to waste the money. I went back after 9 years to a local community college and got an online associates degree to become a medical coder and now make $20 an hour working from home, and $0 in loans. And that was while being married with 2 kids and working full time! It can be done!
@user-jb1lh5uo4mnot everyone lives in those shitholes
@user-jb1lh5uo4m the cost of living where I am is really cheap so it's not bad around here. Plus , as a new graduate I wouldn't expect to start with a high wage. The nice part about this job is that there's lots of room for advancement and there's no end to the specialties I can get trained in to make higher wages eventually! Gotta start somewhere 😊 But yeah, I see your point that in those states it wouldn't get me very far! 😂
My 18 year old nephew opted to go into the trades despite having a high gpa and SAT score. Why? Because as a smart person, he recognized the financial irresponsibility of taking college loans with useless degrees. He will miss “the college experience,” but ultimately I’m very happy for him. My boomer parents are even on board- college is NOT what it used to be
No such thing as useless degrees, only useless students.
@@amireallythatgrumpy6508 that’s just factually untrue.
Trades is great until you’re 50 and you’re physically exhausted.
Plus, given the increase in university costs, we will likely see an over-saturation in the trades fields, especially when AI starts automating degree-level jobs.
I don’t believe it’s as simple as “he picked trades so he smart”. You’re only intelligent if you consider all potential scenarios and mitigate against them.
He needs a long-term plan.
What would you know? You're American.@@ducksquidbat8315
Depends on what you major in. Gender studies pays less than trades, but business and finance degrees pay several times more as you progress through your career. Even starting out, my nephew got $75k starting salary plus a cash bonus and company stock at the end of the year. He’s 22 and just graduated with a finance degree this year. This is his first year of his first job. The odds of him having a career ending injury are virtually non existent. It’s a real probability in the trades. If that happens, you’re screwed.
I worked in a psych hospital for 7 years and was laughed ar when i asked for a raise, was going for nursing I stopped school thinking about what I wanted to do, covid arrived and bc of hospital policy's about certain "preventative medicines" cause me to leave.
I moved into the trades working in solar, 2 years experience I've now gotten with new company and I've increased my earnings by another 15 - 20k
I struggle with the state of the economy and prices, but it's possible there is a massive shift going on and we need to adjust and find a way to do it.
The primary issue is predatory student loans and a lack of financial education. On what planet does a 200k masters degree warrant a 40k average salary?
Every day I thank my 17 year old self for not listening to everyone pushing me to “just take a loan” and instead joining the Army and paying cash through my degree.
Im in a somewhat similar boat myself. 16, junior rn. A lot of those around me are pushing me to go to college, which i do, but i don't want to have any student debt that'll pull me down. Im trying to find out if theres a way to have the military pay for my college years and then join afterwards as an officer.
@@Josh-mc9sx 100%, every major college as a ROTC program. The program allows you to chose a degree and complete it. Afterwards, you would join as an officer. They would pay for your school as well!
You should get in touch with an ROTC recruiter at whichever school you want to go to.
The military uses the unaffordability of college education as a recruiting tool. And even with it, nobody wants to join because the US' role abroad is understood for the venal crapshow that it is. The current generation grew up watching us celebrate a war crime as the very essence of freedom. They want no part of it.
Indeed, I've seen dudes with masters in 200k+ in debt struggling to get minimum wage jobs.
I live in the UK and decided to not go to Uni because I didn't want to be in debt or get a degree in a field that I would regret working in in the future. Now in my 30's and living with my parents I have managed to get a house with my fiancée all because we just took our time, made sacrifices and saved to get a future we both wanted. If we both have kids we have agreed that we will support them but educate them that Uni isn't a necessity in life.
if you wouldn't mind sharing, what job do you have? and what kind of money is it bringing in?
@Clippy4you been working in the NHS since 18, going between NHS roles on about 18-23k PA each role. I owe a lot to my parents not charging me loads every month, but my aim was to only spend a small amount of my wages I earned monthly and left the rest to save. Would never be able to get a house alone though and it's gonna be tough now with bills, mortgage repayments and cost of living, but I'm ready for the challenge.
For a mortgage you need a 10% deposit of what the house is worth so an average house in UK they put down as 300k, you need to put down 30k so as a couple 15k each. Won't lie it's terrifying but with a good mortgage broker, they do all the searches for you to get best deal for mortgage repayments. Never have a credit card or buy things in installments either. Otherwise, you just become in debt more, if you can't afford the thing you want then that's how it is. Just wait, save and get by with what you got, you don't need the latest gadgets to get by, that's just companies wanting to get more money and telling you constantly you need the latest upgrade when, like with a phone, just go sim only deal if your phone works and does what you need it to do. You don't need to go down the route of a new contract phone every year which once you look at monthly cost to how much the phone is worth you find you'll be paying so much more.
You managed to buy a house through mooching off your parents.
I did the same but let’s not pretend you got there through sacrifices when your parents had to pay your bills for 12 years of adulthood
I know i got what I have through the help of my parents, I don’t claim I “sacrificed and worked hard” (even though I did to a degree)
@ducksquidbat8315 I didn't mooch off of them I payed monthly rent, payed my bills and did things around the house so they didn't have to.
Problem today is you get genZ moaning about the price of things and not being able to get their own house and such but are happy to spend 80% of their monthly salary (when living with parents) on designer clothes and the latest tech. Oh well, you got to make that pair of shoes or them clothes last 5 years, that's the sacrifices you make to get where you want to be. Mortgage interest rates are at around 4% right now, in the 80s, it was 17%. No generation has had it easy and the problem now is consumer products being well above the price to make them and being advertised as a necessity "get the latest iphone which didn't change much in a year".
@@PublicVoodooHouse prices have gone up considerably.
10:47 Psh, my guidance counselor was the one who told me that if I went to community college and then transferred to an in-state school, I didn’t even have to take the SATs. My parents thought he had to be mistaken, but it was 100% true. Saved my dad SO MUCH money.
Depends on the state. I did 2 years, attempted to do that to have the state school reject literally all my credits demanding I retake everything. This was in Wisconsin.
@@mamabear5cubs109 It does for sure. I’m glad I was in a state (AZ) where it worked out. The thing that gets me is that it sort of implies SATs aren’t that important, so why require them at all?
I did this too - 2 years at community college and then transferred to a out of state university for my bachelor's. This is the main reason I was able to graduate debt-free. This isn't the case in every state though or with every school, so definitely check before you go that route. I knew what university I wanted to go to before I started at the community college, so I called the university and made sure everything would transfer. It did and I am so glad. No regrets!
I was able to graduate high school with my associates degree at a local community college. It was a new program, and it was really nice because I could get a taste of college while also completing high school. I was able to graduate and transfer to a 4 year university with 62 college credits, and I finished my degree in 3 years. I wish other schools can do this, because it was easier than taking AP classes where if you don’t do well in the final exam, you don’t get the credit. However, the biggest drawback to the program was that if you dropped out before completing the associate’s, you would be classified as a college dropout. Community college is such a great option because of its lower costs compared to taking the same classes at a University. I’m really thankful and fortunate that I was able to do it.
I’m a college freshman majoring in music production. I know I probably don’t need the degree, but I’m also here for the experience. I’ve met some amazing people and grown so much as a person, and I think that is worth my tuition. BUT, my roommate/best friend’s older sister graduated last spring, and her life has not gone the way she thought it would. She’s still single, living with her parents, and working a dead end job. That is what I’m afraid of after I graduate, and I’m pretty sure the economy will be even worse by the time I do.
I am graduating with my B.A. in Secondary Biology Education tomorrow and I am so glad I prepared myself for the financial burden it was to finally get my degree. I would apply to scholarships everyday (starting in 9th grade) to pay for college education. Graduating with zero debt and I was essentially paid to go to college which is such a blessing. I even have a good job lined up (not a lot of money but it'll be a good starting salary that I could have never even imagined for myself growing up poor.
Congratulations! My son is graduating tomorrow also! Good luck!
I think another big issue that no one seems to be addressing is the fact that too many companies require degrees for jobs that someone with a high school diploma could do. I think that a solid 80% of jobs can be self-taught and it's really cruel to require someone to take out $40k+ of debt to be hired for a job that most people can do without a degree. There are so many smart people that just simply cannot afford to go to college and don't want take out a massive amount of debt that are stuck in poverty because of this.
are you single?
My wife and i just finished paying of $85k in student loans. It still makes me sick to think how far ahead in life we would have been without that. 🤦
Man, I felt this one. I just got done paying off $97K and it absolutely pisses me off to think what I could have done with that money. I should have thought a little bit harder about taking out those loans. SMH!
Congratulations to both of you, job well done.
at what age did you finish paying your student loans?
Me, I'm 33 years old. I paid it off about 2 months ago now.@@sirdomus1198
What needs to be acknowledged also is the Great Recession. One of the reasons we all went to college is because for the most part from 2008- 2016 jobs for young people to start careers weren't available. In 2009 and 2010 minimum wage jobs for young people were scarce. It was go to college or go home and do nothing. No other options.
I finished secondary school and went to trade school. I graduated trade school in April 2009. I couldn't find an apprenticeship. Ended up working at a small scale abattoir just to pay the bills. Long story made short that job lead me down a strange path that eventually got me my current job as a poultry genetics researcher. I'm a secondary school dropout with a GED who went to trade school for HVAC and graduated during the great recession. I built a network from scratch and that network got me to where I am.
@UpChuckCanuck I'm happy for you. A lot of us though (millenials) it didn't turn out that way during that time.
@josephnavarro9965 I'm a Xennial (early millennial). Don't blame the system ... learn to play within the system (because you will never beat it)
If you thought those were the only options then that’s on you. That’s not the reality.
@starscream6629 at that time (last year of Bush II through most of Obama presidency) it was.
I do agree that this is a massive issue in the US. I did the math and Harvard University costs on average $79,000 per year and Oxford University costs around 9,000 pounds which is equal to around $11,000. These are 2 of the best universities in the world and the gap is huge.
That is wild!
I didn’t go to college. I joined the military and 8 years later of being active duty with no college degree, I’m definitely not needing to work “2-3 jobs”. I’m making more than most people with degrees. All I did was used my head and didn’t take out loans that I wasn’t sure I’d make enough to pay back. These people were lied to and weren’t smart enough to think for themselves.
without college, how are you going to be promoted to the officer and top brass ranks?
@@LiamColeman-Halla-yq2jlThe military (especially Air Force and Navy) want educated enlistees and officers. So they make it *WAY* easier for anyone in the military to get a degree. They pay for all the classes you take, they let you skip/test out of certain classes that civilians would otherwise be forced to take, deadlines are oftentimes extended, and the majority of the professors that teach military/service members are in the military themselves and actually care about their jobs and students.
@@doggothesavior9107 so, can you make it to the Top Brass if you enlist and get a degree while serving as tank food?
I went to art school in the early 2000s. I live Indiana.
I wanted to go attend SCAD or the SanJose School or Art and Design. Private institutions on the west and east coast. I looked at the tuition of $20k-$30k a year. I knew better.
I studied art and design at IUPUI here in Indianapolis. Today I am a creative director for a small company that makes trade show exhibits. While that is not exactly leading the creative department of a large Fortune 500 or a renowned marketing agency….but I have a beautiful wife and 2 kids, we own a 3 bed room house in suburbs of Indy that was can easily afford. My life could not be more blessed. Make smart choices young people. They really add up later in life.
Family of 4 lived in Arizona and now Missouri living off of 40,500 a year . No government assistance and we’re renting the whole time and now are buying a home . It’s all about budget and location
I graduated high school in 2006. I hate remembering how everyone tried to convince me to go to college vs joining the Marines. I still pulled clutch to the internal rebel and joined the Marines, but boy was I given a hard time for it. Guidance counselor very reluctantly handed over my transcripts showing I fulfilled graduation requirements (I graduated in January so by the time the rest of my class walked on stage for the ceremony I was already in boot camp).
I eventually did go to college, and came out of it debt free thanks to this at the time new thing called the Post 9/11 GI Bill. In an effort to not let my degree (and ultimately the taxpayer's money which funded it) go to waste I went back to the Corps the following year in a relevant job to said degree.
I graduated college in 2006, the whole time they bragged about their 98 percent placement rate and how jobs will be plentiful and then two years later the The Great Recession hit. Jobs dried up like water in the desert.
So, governement shouldn't have a role in education but you got a free education due to government subsidies. Got it. Do you smell toast?
@@matthewcaldwell8100 So writing a blank check to be a government bitch for x-years equals free college?
Im nearly 30, a millennial, in Dublin, were average rent is 2500 pm. The one thing I hate is hearing someone say we're not working hard enough, houses are far out of reach for the common worker
I’m currently a sophomore in high school and I have begun looking at colleges. It is INSANE how expensive it is! I currently want to be a chef or somewhere in the culinary world. It’s not something a lot of colleges have and it’s hard to look for. At my schools college fair I saw a woman from the coast guard who was very excited when I said I wanted to be a chef. She explained that I would get A 75000$ BONUS! After I did boot camp and everything and 8 years of paid college. Now in all honestly I started talking to her by accident but had a lovely 45 minute conversation with her and I’m now realizing in order to not die when I go to boot camp cause I mean I’m not passing that up I should probably work out in order to stay fit and ready to work
1) you shouldn’t state your age (range) in the internet, especially not with a profile pic that’s actually of you.
2) I would highly suggest looking into alternatives (schools abroad which are less expensive, practical experience in restaurants which doesn’t require a degree,etc.) many people join the military and fall for these “sign your life away and I’ll pay for your degree” scams- almost everyone I’ve personally known has lived to regret it. For your own sake please consider it wisely
@@haruhianderson4019 I have also seen two good friends from high school get scammed this way. I second the advice to reconsider.
Bruh just get a job in a kitchen, you don’t really need to go to school to be a chef
This is so true. I’m currently in my third year of college and I can honestly say I wish I’d waited a couple of years to go to college. Luckily I’m a computer science major and I have learned a lot, but I would have liked to have opportunities where I could have gotten my education cheaper or debt-free. I think high schools should stop pushing college so much on literal teenagers who have no real life experience yet. Think about it, we would never pressure a 16/17/18 year old to buy a house, so why are they pressured to take on 100k worth of debt?? Young adults should experience life in the workforce, gain financial knowledge, and learn where their skills and interests lay before making a life-changing decision that may not be the right fit a few years into their adult life. I rest my case
If any high school kids are reading this, please explore other options other than a 4-year university!! Community college, certifications, or trades can be very rewarding! And if you can honestly say that you have a plan and are absolutely sure you are going to stick with it, only then attend college right out of high school. Best of luck to you all
@@barbiegirl4917 im going into trade school very soon, thanks for the encouragement that Im making a good choice, i've always been interested in electrical engineering
The question is, why are you behaving as if a college education costing as much as a house is a normal or remotely sustainable way to produce a society that needs educated people? This is not the natural consequence of mass education; it was the result of deliberate policy decisions made, in part, to sour people on the notion that higher education was desirable. Conservatives have been waging this stealth war against colleges since the Civil Rights movement because they feared the activist capacity of a historically literate and politically engaged youth. And, AT THE TIME, critics predicted that they were producing the kind of system in which lifelong financial servitude would be the price of admission for advanced degrees for all except the rich. We've had these arguments already.
The problem is, experience in the workforce was exactly why I was eager to start college. Making barely above minimum wage for a job that was leaving me tired all day, it was easy to get in my ear and say “that’s your future without an education”.
Fortunately, things worked out well for me. But imagine being 17 and being told that you’ll be a brokie for life and work this soul crushing McJob if you don’t go to school. It’s effective marketing.
*JOBS FOR CS ARE GETTING OUTSOURCED AND OFF SHORED AT A RAPID RATE, ON TOP OF THAT THE TECH SECTOR IS NOT DOING SO HOT RIGHT NOW, MASS LAY OFF ETC, ENTRY LEVEL REQUIRING 4+ YEARS OF EXPERIENCE AND A CS DEGREE, THE ENTRY LEVEL, MID LEVEL JOBS ARE OVER SATURATED FOR THE CS FIELD*
I studied my major(Public Accounting) with a scolarship in a private university. To be honest, I don't know how my now colleagues are doing to pay the huge debt some of them acquired just to have that diploma because the salaries offered by the companies are really slow. Now I'm working and paying my future house, but I don't think they can do this too.
I've have learned that as long as you are working in something honest, it's not important to have a diploma. I would not put that kind of presure on my future kids. I wouldn't want them to be graduated and frustrated about how little they can reach, economically speaking, with their knowledge and of course, really long long term debt.
I've tried talking to my mom about how my friends either still live with their parents, have dual income spouses or multiple room mates and she said, "well if they weren't lazy and made something of themselves" because apparently anyone who doesn't have a master's degree and a 6 figure income isn't worthy of having a 1 bedroom apartment or at least a studio that is in a safe neighborhood.
It’s 2023, not 1953. 6 figure salaries are easy to get these days. You can get there a few years out of college. I know several people who graduated college within the last decade that got there within 3 years or less. My nephew will get there soon. This is his first year on the job after graduating this year and started with a $75k base salary plus a bonus and company stock.
@@johnmartin4641 my point isn't about how hard it is, my point is people who work at Walmart or McDonald's deserve to be able to live decently too. I know a lot of jobs are basically saying, -entry position: bachelor's degree and 5 years of experience, low pay (depending on the job)
And a lot "regular" (I'm not talking art degrees) are not leading to well paying jobs. Some are. You might be okay with medical or computer stuff although my tech people are having trouble with how saturated the field is atm
In Brazil, people live with their parents and normally work while they are at university. The idea of leaving home and living on borrowed money for four years, while dedicating 100% to university and paying off the debt later is insane. Only Americans do that. Because it really is a very stupid idea.😂
It seems like the whole rest of the world does it that way.
And the workplace requiring degrees when they shouldn't. They want you saddled with debt to kill your ambition and to LOCK you in to menial dead end white collar jobs.
@@MrsMathewsOf course!
I mean, keep in mind that college is a lot cheaper in Brazil, 2000-10000 USD per academic year at private colleges. It's an order of magnitude more in America. So, good idea, but we need to solve the problem of excessive tuition before this becomes feasible.
brazil is a third world shithole with an extremely dangerous violent crime rate
you probably should have not mentioned your home country
Went to college out of high school and immediately stopped due to not knowing why I was there. Ended up working for 10 years did some community college then going back and finishing my BS just this December for less than 20k total over the past 3 years. Definitely the best choice in my life since I left college recently with no debt
For Gen Z, there are three things that are inevitable in this life: death, taxes, and student loans.
The same as previous generations. Part of a difference is that they are getting degree's that place them into jobs that don't pay well. I would also like to see all the gadgets and everything they are spending their money on and if that is impacting it.
Death and taxes are not choices. A student loan is a choice. I've finished an associates degree completely out of pocket. If I can't afford the tuition for a semester, I take a break and save until I can. You don't need to go to massive overpriced university. The community College I attended worked with many of those large universities for summer classes in finance or CADD programs. It's not easy to get the degree and work but I would take that over tripling my overall payment with a loan.
Inevitable for those that don’t plan ahead. I’m only 19 and I’ve been GIVEN money to go to university. It’s all about taking the opportunities life gives you and making more opportunities from those.
Or instead of going to college, learn a trade.
You can opt out of student loans…
In my experience many people are confused about being able to “live” on their income as meaning that they can buy any and all beauty products they want, drive expensive cars (rather than being willing to drive a beater/old car until you can truly afford to pay cash for something nicer), and deciding not to eat out or go shopping or go on vacations that they have to rack up credit card debt for.
Bingo. A friend's (ok, he's an acquaintance) kid was complaining about not being able to afford a house and then took 3 months off to hike the Appalachian Trail. Which she documented with a $1,000 cell phone and drove to in an SUV that's above her means. That same kid spent found money to go to Greece earlier in the year. I have zero sympathy for these kids who live well above their means and then blame everyone/everything else.
I have degrees in Economics and Finance and a minor in Engineering and have friends who are CFOs and a federal judge. They make as much, if not more than me, but are perpetually broke because they have no impulse control and can't budget. I have been smart with my money as a securities litigation consultant and now own a tree farm and co-own a saw mill. I own a few nice cars, but my daily is an 8 year old Forester, and I live in a house I could buy every two years in a beautiful part of the country where the cost of living is a quarter of what it used to be when I first started out in DC. Young people spend their money on such stupid things and always wonder why they're broke. Your spending matters just as much, if not more, than how much you earn.
You listen to Dave Ramsey don't you 😆 it's so true thougha
The average rent in my hometown is $2900/mo. The average rent in the state is $1800/mo. Not mortgage, rent, not with utilities, not with food, not with gas, not with a car payment or insurance or health insurance. Just rent, just your roof. To pay the rent alone, nothing else at $1800/mo is $15/hour 40 hours a week, 52 weeks a year to account for taxes. It is literally the entirety of a full time minimum wage worker. It's $23/hr, 40hrs/wk, 52wks/yr to pay the average at $2900. The average HOUSEHOLD income in that same state is $70k/annual, meaning you take home about $50k, meaning likely two earners whether or not there are children, need one person's ENTIRE income just for rent in the state and one person's ENTIRE income plus some of the others in my home town.
Before you say move, I already did. But all of us escaping the cost of living where we happen to be born are going to have to go somewhere, and that's going to affect YOUR cost of living negatively because an influx of people always drives up housing prices and sink your job market because everyone trying to avoid the urban struggle moving rural is just going to drive you out. And then the cycle repeats.
Your "experience" is not statistically supported. It is actually the system. Rich people living on credit is not the average American.
I said these exact same things in a UA-cam short and also said don' t waste money on continually upgrading cell phones and other electronics; boy did it trigger people. I also pointed out the boomers and gen x are aging and will need services. There's no reason to think more housing won't become available as these 2 generations die off.Things can change fast.I was lucky because I had a family to support when I turned 22 so I fled university in debt, started a trade then went on to become a shop teacher neither of which are status occupations but they allowed me to do what I needed .Blaming a group of people for your individual situation has never turned out well for anyone and there is too much of it today. It's poison.Outside of a professional certification I wouldn't recommend university to anyone.You made a lot of good points.
Degree inflation is no joke. And I HATE it!
I'm a CNRA. Thankfully I ONLY have a Masters degree. Now they require a Doctorate. But it used to just be a certificate. It the same with general RN's. Used to be a certificate, then Associates, now Bachelor's.
These "advanced degrees" do NOTHING to enhance bedside nursing. They only make the degrees take longer, cost more, and line the pockets of the institutions providing the degrees.
If I wanted to be in management, to teach, to research - then sure - give me an advanced degree. If I just want to provide bedside nursing or give anesthesia for surgery... why? It's idiodic! Why do I need a terminal degree for an entry level position?! Especially with the coming nursing shortage!!!
I’m so glad I didn’t finish going to college after getting married…after having my baby I found out the trade I really wanted to do, and started my small business. I make more money doing this stuff that I would of with my college degree I was going to get.
I’m definitely encouraging my kids to look at trade schools or community college stuff, or even certifications things.
Part of the problem is these young people seem to think a degree means you will instantly land the perfect 6 figure job.
The degree might end up being useless if you choose the wrong one. It happened to my friend, she still (10+ yrs later) has the same job she had when she was going to school.
And yes she graduated, yes she looked for work in the field of her degree. It just never worked out.
The degree I received from University of Phoenix gave me the skills I needed. I agree with you, but aside from working at Wal mart or in a factory, I was not able to find a job in my area where I was making enough money to survive without those skills.
Also, my husband is a plumber, and there is definitely a need for more trade workers in my area!
I agree college admission prices are crazy... but I got scholarships, got through college with 0 debt, but the only place willing to hire me full time after college is paying below 50K a year and isn't in my degree's line of work at all. I understand I might not get a dream job but I'd at least like to be working in my field of study! I can't even afford to live on my own right now with a full time job. It's ridiculous, and most of my money gets spent on car gas and food!
Perspective of a recent grad with student debt: I think situations are nuanced. You could go to college to be a computer engineer (a very lucrative field) and if you focus only on schooling and GPA and don't make time to find internships or don't land internships and network/make connections you could graduate from college and really struggle to find a job. You could also go to college for music and arts and graduate to find a job that pays well enough for you to be satisfied with your life. To blame everything on the education system and how the older generation failed us, is completetly absolving yourself of blame. You have to look at your situation and assess it properly. If you think having a college degree is the golden ticket you're foolish. If you don't take accountability for yourself and not being informed on the reality of the world you're not doing your job as an adult.
When every single adult around is telling young people that the only way they will become successful in life is to get a degree, when they hear year after year that if they don't go to college they will fail at life, when they are told time and again that a college degree GUARANTEES a successful career it is 1000% the fault of those adults.
I'm from the mountains of West Virginia. I'm 30 years old now. We were told the only way to escape poverty was to go to college. It only put me into massive debt with no job. I have an accounting degree, a finance degree and a business administration degree. I couldn't find anything simply because I didn't know anyone. I didnt get a "useless" degree. It's all b.s. They all lied to us.
That’s because there are no big businesses in your area. If you move to Georgia or Texas, it will be much easier. I know people in Georgia who although we’re held back from a promotion 10 years longer than normal due to not having a degree, did manage to get promoted into upper management without a degree making well over $500,000-$600,000+.
@@johnmartin4641 When the answer is "Just move!". It's not an answer.
@@johnmartin4641yes, you are describing me. No degree but I worked hard for years, paid attention, learnt quickly, am a team player and most importantly- had excellent mentors, CFO’s, BDM’s, analysts, GM’, legal teams, CEO’s. I learnt from the best of the best and now I am a finance manager, with a large team to manage, in a national corporation and on 6 figures. And again, zero degrees. That being said, I know finance analysts that have huge debt and earn the same or less than me hence I stay quiet… but it’s just hard work, motivation and initiative that count in a BIG way.
Loved Jr. College!! I too got, "you're so smart, why?" Well, back then (long time ago), it was free - yes free; second, I had fabulous professors; third, transferring worked really well for me. I had a career for 24.5 years in elementary school teaching, retired, and still work very time. I paid my loans back. It worked for me. Hey, I even have lifetime medical insurance. I look at the current college costs, the work force for up and coming new grads, and feel for their plight.
I love the ad transitions you do. They get me every time!
The real problem that needs to be addressed is the fees. Why do schools charge more for fees than for in state tuition? I currently attend and there is a fee for academic excellence. Isn't that what the tuition is supposed to cover, excellent instruction in your given field? Also schools should get rid of useless degrees. Higher science, maths and medical is what should be covered in colleges. That was what they were originally founded for.
Yes! In my early years, the required "Core Courses" that were outside my field were 10% of my time and money. By my 9th year of college (couple degrees), it was 35-40%.
Why the fees? If you are at a state school, there is probably some type of cap on the amount of tuition that can be charged. The institution that I work at is public & tuition rates have to be approved by the state Board. We boast how tuition hasn't been raised for so many years, but they don't talk about the fees!
I dealt with this for many years when I was recruiting for the military. Always trying to combat the theory of going to college and get your degree and you will be set. The military is a good option to become trained and to also have real world experience in a skill trade of your choice and also still have the opportunity to use the educational benefits to attend school during and after your service time is complete.
I have 3 college degrees. My associates was paid for by my public high school. Got my bachelors in 6 semesters. I have an MBA. I work for a Fortune 500 company in the financial industry, graduated with no loans with my bachelors during Covid and got my MBA just after Covid, and I still can’t afford to live. My own financial advisor told me I was screwed.
You should come to Australia. Finance roles pay well hence why we have a lot of English born accountants - in my experience that is.
One of my closest friends moved here from Ohio and she’s an analyst and killing it.
Colleges and Universities make huge promises to students as to how amazing their lives will be after their education, and how much money they will earn. But they are a business. Educational establishments make money with every student that attends and pays for their education so of course they are going to tell them it's great (same here in the UK). Everyone has been duped. Literally everyone has a degree of some sort now so it's the standard which means no one stands out from the crowd. And frankly, wages to cost of living ratio sucks. How that changes in the future, I don't know. The simple solution? Raise wages. But who's doing that? And is it actually that simple anyway? Lifestyle creep is a thing and most people are living beyond their means. Because retailers want your cash at any cost - usually your level of debt.
If people want to strike about someone, the kids should refuse to sign up for college. Bring back apprenticeships and real life learning.
I am glad I didn't pursue a higher college education after I graduated from a community college. A lot of it had to do with money because I started to realize that college was just too expensive for me.
My kids are coming of age. I've advised all of them to not go to college without a plan of how to pay for it or to pay it off by the career it qualifies them for. I have also advised them to earn qualifications and skills elsewhere. There are plenty of trade schools that are very cost effective with a very large demand with well paying work following qualification or certification.
It's not just colleges that should be held accountable. Primary and secondary schools are pushing that you're "going to be a garbage man" (who probably would make more than you would with a college degree) like it's a bad thing and say that you need to go to college if you want to amount to anything. Even if you choose a high paying degree, sometimes you don't NEED that degree. Take, for example, computer science. You can get the information you need to get a high paying computer job from a 2-3 month bootcamp OR take a 4 year college course. No one teaches young people these alternatives, and thus they are stuck paying off years and years and years of debt for something they may not even have needed.
All of my teachers got mad at me in high school because I told them I wasn't going to college. When I was around 5th grade, I became aware that my parents couldn't afford to put me in college. (I am the middle of five kids and we lived in the projects, wondering where we were going to get food.) I knew that I'd have to put myself through college, but had no idea what to study. Several people were telling me that I didn't have much of a future, so I never bothered figuring that stuff out. When I graduated high school (to the amazement of everyone) I began working. It made my high school teachers mad because they didn't see a future for me in dead end retail jobs. I told them there wasn't exactly a degree for writing books, which is my main passion. There is a degree for sewing and creating things, but it's not necessary. The only jobs I have seen that demand college are the trades, research jobs, and teaching jobs.
The hardest part is that most parents today are still encouraging their kids to go through with this. It may simply be ignorance or it might be that they want trophies made of their kids. To be able to brag that their children made it into a “great” school.
More kids today need unbiased and accurate advice. Making a decision like this at such a young age is an impossible task. It’s almost guaranteed you’ll make the mistake of putting yourself in debt with no viable way out.
Take a moment to question every decision. Especially the ones everyone else is making for you! If your uncomfortable don’t go through with it! Make the mostly risk free decision to work and earn money while trying to understand what you could do to secure a future career.
That’s the thing! People are getting mad at all of these people talking about getting college degrees and being in debt, when in reality our parents told us for years to go to college and get a degree.
Many expect high wages right out of school. You have to put in time before it will pay off, if it ever does
I was the first one out of my cousins to have a college degree and I'm the second youngest. The mistakes I've made going through the whole college experience and debt I can use to guide my kiddos. There's other paths people can take to further their education. Plus, when I was in highschool I felt that pressure you have to know what you want to do for a living and accomplish that goal right away. Smh, you have your whole life to figure that out. Don't take on debt if you don't know what you want to do.
Excellent video, 3x👍
The problem starts in high school. Guidance counselors work to get kids to get in the most prestigious universities not talking about the actual cost of attending. The kids are so proud to get accepted in such schools they aren’t shown the big picture of attending such schools, and what awaits the post-grad life.
The gov needs to turn the fucking money printer off for a bit, like chill. 😂
The Government needs to have freee college.
Agreed! I worked the entire time I was in college and living on my own paying rent. I hated being a CNA during COVID but I went to a community college/tech school and graduated without any student loans! I followed Dave Ramseys philosophy the entire time and had no debt. It took me months to find a job in interior design after I graduated but I finally got a job last week but without student loan debt and car loan I was able to sustain myself COMPLETELY on my own. BTW I live in Seattle, so I get the insane price of living. None the less- it’s to show that we do have some power to make responsible decisions.
That one girl perpetuated the Absolute lie I was also told that unless you go to college it 100% means you make less. 4 kids in my family 3 of us work in trade unions, one went to “school. 2 of my brothers make 150k 4 years in with a 401k, pension and amazing insurance. In my trade I make 240k with no OT aaand on top they pay for my 4 year school while working, after finishing your a couple Lib arts credits short of a degree in electromechanical engineering with 0 debt getting paid the whole time. All our unions are like that. Plus they’re begging for people so there’s next to no competition.
My youngest brother is 23, starting his fourth year in college, six figures in debt donating plasma to survive with no actual job experience or even a job lined up at the end to pay for it.
Who’s more “poor”? If I’d have listened to my high school counselors that going to college is the only way forward I’d be in the same boat. There are high skill trades, apprenticeships and unions all over the country that need people both in blue and white collar fields. Paying for school while you work. In any field the more skills you have others don’t the more you’re worth. A 300,000 piece of paper doesn’t mean you’re skilled or any different than the line of others behind you with the same paper. It means it’s common and therefore cheap.
My husband and I both have Bachelors Degrees in Business, we don’t have any student loans… and we still can’t afford a house. Where we live the average home cost is 400k + and rent is over $2000 a month. We’ve been living in a crappy apartment for the last four years with our 4 kids because we locked in a lower rent and we would literally be homeless otherwise. My husband makes more than my dad did when I was growing up, and like…we were poor, but we had a house.
I don’t think it’s student loans that’s causing the issue. 😅 I think it’s the housing market, inflation, and a society that doesn’t normalize and prioritize families.
I feel awkward at times that I never went out to college and lived the expected young adult American life, but I just can’t convince myself it’s worth that time and money just to be in debt my whole life is rediculous, unless you go to be a doctor, lawyer, etc.. you will be looking for a job in a field everybody wants in for not nearly enough pay to live and pay off your loans
As someone that goes to a quite competitive public university, I can also say that on top of them increasing the cost of tuition and fees, they’re also increasing the number of first year admits every single year. So while our education is getting more expensive, they’re also accepting more students. It kinda feels like it’s diminishing the value of the education, but the name alone has notoriety, so I guess they can get away with it for a bit. I just need to graduate before that notoriety gets ruined like the ivies.
Editing to say, I still love my school and they really do wonderful things for their students, community, local economy, and society as a whole. Colleges really do get a bad rep now, but I wouldn’t change my position for anything. University education is not always a complete waste and can do a lot for someone’s life. It really is about choosing a productive line of education (I like how Brett puts it in terms of ROI), getting the absolute most out of it as you can, and using whatever resources your college provides you for getting a job after graduation. At the end of the day, colleges do want their students to succeed. Producing successful students means they can brag about percentage rates of grads leaving with a job and then rely on alumni income for fundraising. I really think people just need to be more strategic about their lives. No you’re not going to automatically be successful just because you got a degree. You have to actually use that degree to your advantage. OR not get one at all because we also need the trades and entrepreneurs.
Another side note: public universities are nonprofit. Something I love about my school is you can tell they’re constantly putting money back into the school for the betterment of the students and campus. I know I thoroughly appreciate it because it provides a productive and supportive environment which makes a huge difference in the quality of education. I will say though, their funding for mental health services could use more improvement, but they’re never stagnant in progress.
We had the same issue when I was in school over here in the UK, you're pushed to go to college and university over going for apprenticeships, we were told this was the better choice and now everyone who went to university and got into debt are struggling where as all the kids that took the option that was looked down on are doing fine, got good jobs and actual careers, the school system has been failing kids for years now, it's so blatantly pushing people into its own best interests instead of your best interests.
I feel so awful for these people that were lied to. I’m 21 and never wanted to go to college so I didn’t. I’m making almost $20 an hour and I’m living very comfortably. I don’t have any roommates and live alone. I only have 1 job and I live in the suburbs of Denver. It’s only by the grace of God that I am able to save money and afford all my bills while still spending money here and there on things I like. It’s unfortunate that the school system tries to put it, and most of the time succeeds, in peoples heads that they need to go to college to be successful. I pray for all those that were scammed into debt for overpriced, mostly useless, degrees.
I sympathize with them, but tbh, in the age of information where they can find anything on Tiktok and Instagram than adds nothing to their lives, they can sit down and research what they are about to spend tens of thousands of dollars on. It takes less than 2 days if you sit behind a computer and do the research. The DoL website and UA-cam have a lot of information.
Same, and well said
As a Millennial, we went through the same thing when we were young. After graduating college, being stuck with a school loan debt. I'm still paying my student loans today. 😪
Dang that was deep Brett. I needed that.
Love this video Brett!
I worked my own way through college on minimum wage , no help from my family. I worked full-time time while going to school part-time for the first 13 years of the first 15 years i went to school to get my degree in mechanical engineering. I didn't buy my first house until i was 45.
What was the starting salary that you took after graduating? Curious as a mech major looking to go into naval/marine engineering in the future. It looks ok on Google but I figure it can't hurt to ask
@@1libra. I started @ $35k in 1992. But I was already experienced in the field due to working as a technician in the field for some 6 yeats.
so glad I was ahead of the curve and avoided any college debt. My passion is to create a family, not a career. So many awkward conversations with my peers who looked down on my choices but there really are traditional women still out there. Just don’t see them on the internet much because we keep to ourselves.
Yeah that doesn't really help 1) women who don't have someone to just pay their bills until they get a husband, 2) men who want to provide. So cute you think this is just a problem for nontraditional women rather than everyone who wants a family and isn't well off.
@@N0p3er5 lol are you high? Who paid for your shelter before you get married? Either someone else was "helping" you by not making you live on the streets or you had to work. And yeah, your parents or SOMEONE is supposed to "help" if you think you're too good to work for survival or seek skills or a career in the mean time. How useless are you? Who was paying your bills? Who bought you food? Who put clothes on your back? Not everyone gets to live for free before marriage. You're not garbage for not having a degree and having children, you're garbage because you apparently think being an adult leech is cool until someone marries you.
@@katansi it’s not hard for a good, well deserving woman to find a good well deserving man to mutually take care of eachother. If one hasn’t found that in their life, the problem isn’t other people…. Improvise your own life and attitude and good genuine people will flock to you.
@@Lucky-dw3el So you got married in high school and jumped from parents to husband? Either you get married as a teenager, possibly a minor, or at some point someone other than your spouse is carrying you financially if you think you shouldn't work. Someone else is paying your bills and providing for your basic needs in a household where you're an adult and not a wife. It's cute if it's your high school sweetheart but if your husband was hunting for a bride at the local high school that's a predator. You're also implying if women have to work to live they're not good and well-deserving. So by your logic someone isn't ready to marry you straight out of high school and you have to work to live you're just a bad person and you deserve bad things. This is the stuff that actually pushes away people from traditional anything. Like this is full on why people leave their whole communities, churches, families, etc. You're not making the point you think you are.
@@katansi you’re the only one offended by what I said ….. if life didn’t work out for you as you intended - look else where for an apology. It’s not my fault you weren’t smart enough to find a man that is willing to take care of you. The vast majority of men thrive in a provider roll. You either are a man who expects 50/50, or a woman who didn’t do enough reading and let herself go to the point where no man wants you. I suppose I should apologize now.
We are definitely going to push for our daughter to go to a community college so that she can get the required classes in if she wants to go to a university later. I went to a university straight out of high school and, as someone with a C average in high school, I was NOT prepared for the struggles of a university, and even the small one that I went to. My daughter is only 12, almost 13, and I’m already dreading how much college will cost (even community college) for her if she’s not in a sport, band or some other activity or even with a high GPA!
I’m doing my Bachelors in elementary education. This semester my tuition was $1350 bzd. Granted I live in Central America (Belize). Education here for us is very affordable plus there’s so many grants/scholarships given out by the government, schools and different institutions which makes it easier on those that can’t afford to pay. Plus if a student was already working before they went back to school. Depending on where they worked and what position they’re in, their company would pay to let them go back (it’s not that common but it does happen sometimes)
So in 4 years my degree cost would be close to $20000. That’s just tuition. Since I do online classes.