college loans

the fallacy is in the calculus

any degree * B1 +

a degree that pays well * B2 -

cost of degree +

wages over your life +

other random terms =

good choice vs bad choice

(all of this ignores the "got the degree in naval gazing for the degree, not the money)

Most people inflate the VALUE of B1 to be MUCH MUCH MUCH higher than B2.

Most people get "upset" that some degrees pay MORE than other degrees.

Most people deflate the cost of the degree "I will make it back".

You dont need a $500,000 college degree to work in a coffee shop and write the great american novel. Hell, the degree takes time away from the writing!!!

AND, there are a TON of unfilled jobs (in trades) that dont require a degree and pay much better than coffee shop.

We have been pushing the GREAT AMERICAN COLLEGE DREAM, and refusing to recognize that some people will still be collecting the trash, laying pipes in the streets, and doing things that are important, pay well, and a degree is worthless.

no .. I dont have THE ANSWER

but 100% certain, that making college loans forgivable in bankruptcy will fix a lot of the problems.

(no bank will give a $200k loan, for a degree that has a HUGE chance of ending up in bankruptcy court)

(so you are a C student, want a loan for "art history" degree, and think it will pay off $200k??? mhmmm)

I know ... I know ...