DrBanneker
Space is the Place
So I just wanted to share some wisdom I was given when I was young that I tell young brothers and sisters, especially in these times of insane college costs.
Don't break yourself (or your parents) financially to get an undergraduate education. If you have savings or need to go into debt, save it for graduate school (Masters, JD, MD, MBA, etc. -- you shouldn't have to pay much for PhD).
Rationales:
1. A large number of people get undergrad degrees these days and having an undergraduate degree in the 21st century is like having a high school diploma in the 20th century. Unless you are majoring in something specialized and in demand (engineering, some types of accounting) job prospects are difficult since you are competing with a vast pool of similarly credentialed talent.
2. Following 1, while college is not just a money decision, it is not realistic to spend over $100k if you will be in debt slavery for 20+ years
3. Grad school training will provide the differentiation and salary boost (for some grad degrees) that will make the extra money and debt more worthwhile and easier to get rid of
4. Building credit is extremely important at a young age and if you ever want to get a house or get low rates, have a high debt/income ratio or being delinquent on student loan debts is a no-no
5. Grad schools typically care less where you went to undergrad if you have good grades and GRE/LSAT/MCAT/GMAT scores. In the end, the grad school on your resume will matter more to your employer than the undergrad unless you are trying some high end job like management consulting or investment banking
6. Grades are important, especially for law and med school, and often going to hyper competitive and extremely expensive colleges can put you at a grade disadvantage (grade inflation aside). Doing well at a middle of the road, cheaper school may position you better for a good grad school
7. The financial costs of fukkery are reduced. If you spend $50k/yr to go somewhere and screw it up freshman year, that is an expensive and demoralizing mistake. At a cheaper school the collateral damage is less costly.
8. Most expensive school resources are going to stadiums, admin, and facilities. Stuff that is nice to have, but not worth ruining your finances over
9. Basic classes, for example biology, physics, and chemistry for pre-med, are pretty much the damn same everywhere. You don't need a Nobel Prize winning lecturer to learn organic chemistry.
10. You can often take credits at the 'prestige' school if it is nearby. Take a few classes and hang out there without paying the full price tag
Just my thoughts and advice. Please note I DID NOT say I am encouraging people not to attend college or that I think Black folks should 'aim low' for an easier ride (which a lot of anti-affirmative action people vocalize). I am just saying that unless your fam is independently wealthy, it makes more sense to save it for grad school. Go to the decently ranked state school instead of the $50k/yr private school. Unless you get a good job out of college in engineering, consulting, finance, or accounting, it will take you decades to pay off $50k+ of debt that you cannot get rid of in bankruptcy.
Anyone agree or disagree?
Don't break yourself (or your parents) financially to get an undergraduate education. If you have savings or need to go into debt, save it for graduate school (Masters, JD, MD, MBA, etc. -- you shouldn't have to pay much for PhD).
Rationales:
1. A large number of people get undergrad degrees these days and having an undergraduate degree in the 21st century is like having a high school diploma in the 20th century. Unless you are majoring in something specialized and in demand (engineering, some types of accounting) job prospects are difficult since you are competing with a vast pool of similarly credentialed talent.
2. Following 1, while college is not just a money decision, it is not realistic to spend over $100k if you will be in debt slavery for 20+ years
3. Grad school training will provide the differentiation and salary boost (for some grad degrees) that will make the extra money and debt more worthwhile and easier to get rid of
4. Building credit is extremely important at a young age and if you ever want to get a house or get low rates, have a high debt/income ratio or being delinquent on student loan debts is a no-no
5. Grad schools typically care less where you went to undergrad if you have good grades and GRE/LSAT/MCAT/GMAT scores. In the end, the grad school on your resume will matter more to your employer than the undergrad unless you are trying some high end job like management consulting or investment banking
6. Grades are important, especially for law and med school, and often going to hyper competitive and extremely expensive colleges can put you at a grade disadvantage (grade inflation aside). Doing well at a middle of the road, cheaper school may position you better for a good grad school
7. The financial costs of fukkery are reduced. If you spend $50k/yr to go somewhere and screw it up freshman year, that is an expensive and demoralizing mistake. At a cheaper school the collateral damage is less costly.
8. Most expensive school resources are going to stadiums, admin, and facilities. Stuff that is nice to have, but not worth ruining your finances over
9. Basic classes, for example biology, physics, and chemistry for pre-med, are pretty much the damn same everywhere. You don't need a Nobel Prize winning lecturer to learn organic chemistry.
10. You can often take credits at the 'prestige' school if it is nearby. Take a few classes and hang out there without paying the full price tag
Just my thoughts and advice. Please note I DID NOT say I am encouraging people not to attend college or that I think Black folks should 'aim low' for an easier ride (which a lot of anti-affirmative action people vocalize). I am just saying that unless your fam is independently wealthy, it makes more sense to save it for grad school. Go to the decently ranked state school instead of the $50k/yr private school. Unless you get a good job out of college in engineering, consulting, finance, or accounting, it will take you decades to pay off $50k+ of debt that you cannot get rid of in bankruptcy.
Anyone agree or disagree?
