Hopefully this brings to light that the whole college system in america is fukked and needs to be scrapped, because most of the US is oblivious to
Been saying this for YEARS.
College education is designed to artificially widen the wage gap.
- Arbitrarily increasing tuition rates that do not coincide with the real world value of the degree you obtain (tuition increases every year, but out of college job salaries sometimes even go down)
- Requiring bachelors degrees for even base level jobs.
- Effectively pricing disadvantageous demographics out of said degrees unless they want to go into massive debt via financial aid
- And viola, the cycle of debt is established
- Some people live on 45-55k a year with their degree that cost over 50k and it will take them decades to pay it off
- Some people miss payments and their credit is lowered
- Missing student loan payments is actually one of the most common reasons why people lose credit
- With lower credit, you have to deal with high interest rates with a vehicle purchase, paying sometimes 10-15% more than others who are not in debt.
- With lower credit, you cannot get pre-approved to buy a home, you rent forever, no equity to pass on to your children.
I'm not just making up a fairy tale, this is real life for many people.
There are many many many people in America whose college degree was a net negative on their financial state.
We always talk about education reform at the lower levels, but we almost NEVER talk about colleges.
A change needs to happen.