Recent comments in /f/wallstreetbets

What_Yr_Is_IT t1_j9k4x7v wrote

Reply to comment by The_Dancing_Dolphin in Many Americans need Wendy’s dumpster to afford student loan payments without Biden's forgiveness plan: Survey by TheFleshGordon

Supply and demand drove the cost of education bonkers. There needs to be a rebalancing between manual labor careers and degree level careers.

My parents sent me to college because they didn’t want me to work as hard as they did, but they had no clue what that never meant or what it looked like or what their responsibilities would be. They just thought, hey, I send my kid here and I won’t have to worry about anything!

Today I keep hearing, “electricians make 6 figures” sure, but if you add a million more electricians to the mix to fill the gaps, salaries and job openings will plummet…supply and demand

The issue to me is, colleges are “no risk” meaning their debt is higher quality, it comes from the government, can’t be defaulted on or claim bankruptcy on, sure it’s not fool proof, but there’s a reason there was a huge spike in “for profit” schools.

1

What_Yr_Is_IT t1_j9k3vw0 wrote

Reply to comment by dj92wa in Many Americans need Wendy’s dumpster to afford student loan payments without Biden's forgiveness plan: Survey by TheFleshGordon

This is my point EXACTLY. In order to make it today, you need to spend money on a degree. Sure yea you can be an entrepreneur and start your own business, but if it was that easy, everyone be doing it. You can farm, but that’s also highly subsidized. You can code, but those jobs are being farmed out to India. There are other means to make a living, but to become an executive at a firm today, the requirements are totally different than what they used to be

I tried to start my own business and failed, cost me $20k

I have my MBA from an M7, and pulling in 6 figures and now having a child. My first. At 40. And freaking out how to afford to pay for him. My boomer parents at this time had 4 kids, in and out of 3 houses, multiple cars, etc. both had union jobs working for 1 company their entire lives with a pension.

They’re anti-union, hate any talk of helping student debt relief, etc. they’ve created the world we’re in today and the hurdles for their kids to climb and are actively trying to make it worse while complaining we live in their basements still.

2

minkman32 t1_j9jxmzg wrote

Reply to comment by mikecrypto8 in Many Americans need Wendy’s dumpster to afford student loan payments without Biden's forgiveness plan: Survey by TheFleshGordon

Look at historic average college tuition costs vs minimum wage. 50 years ago you could pay for 50% plus on just 20 hours/wk of labor. Now it’s well over 40 hrs. That’s why most have no other option but to take out loans.

Honestly it’s not even worth the time to work given how little it pays. Most students would be better off taking out massive loans and focusing on study so that they graduate top of their class and get a kickass job/ go to a kickass grad school. That’ll maximize income in the long run making loans easier to pay back.

Unfortunately only so many students can graduate into those kickass jobs hence the situation we are in and why so many zoomers/millennials are struggling and feel lied to.

3