Student Loans are a SCAM. Please, DON’T FALL FOR IT!

The banks are making an absolute killing off
supposed higher education. High-school students are groomed by their
guidance counselors, teachers, and society at large to think the thing to do next is
go to college. At 17 and 18 years old, they are maneuvered
into as huge a commitment as taking out loans for tens of thousands of dollars, a tragedy
that is repeating itself countless times for the current generation. What can we say about a society that lets
so many of its young adults get buried in hopeless amounts of debt right when they’re
getting started? Looking at the abysmal state of millennial
employment, you can see college is a very poor investment. Many college graduates wind up making little
more than minimum wage and yet have a monthly bill of hundreds dollars for years and years. That money could go toward rent, the down
payment on a house, more than cover the lease payment on a car, or otherwise be saved for
building a future. On the most minimal payment plans, the debt
can effectively never be paid off, as interest piles on top of interest, amounting basically
to debt slavery. In addition, thanks to the banks’ ever active
lobbyists, it’s also become almost impossible to discharge student loan debt in bankruptcy. While some jobless college graduate has basically
no hope of voiding some thousands of dollars in debt, corporations can still readily go
bankrupt and beat their creditors out of millions. Why not just not go to college and work at
Starbucks? It’s better than studying for four years,
taking on massive debt, and then working there. What would make a lot more sense even than
that is to spend way less money and learn a trade. There’s always a demand for mechanics, plumbers,
electricians, carpenters, machine operators, and so on. And they can make an actual living wage or
much better. They can join a union, or they can start a
business with basically a set of tools and a van. As opposed to college, you can come away from
school or an apprenticeship with no debt, a defined skill, and a real job. Once established, you can then go to college
part time if you want to. College is actually not that important. In many cases, it’s main value is petty, as
a status symbol and a way to get a foot in the door, which can be useful but usually
doesn’t counterbalance tens of thousands of dollars in debt, and it’s also worth
asking what percentage of employers actually bother to verify a candidate’s degree. Another thing you hear about is the social
aspect of being at college, as if it makes any sense to spend so much money just to go
to a big party. You could go to the most exclusive clubs every
weekend for years on what college costs. It’s also another example of what a joke college
is; people treat as a big party and still graduate. For many majors, you learn nothing in college
that you couldn’t teach yourself better. Consider an English degree for instance. What if instead of going into debt, you just
read a tremendous amount of literature and commentaries on it by the most notable scholars,
most of which is available for free on-line and at the public library, unlike college
bookstores? What if you watched some of the countless
hours of free lectures and other educational videos available on the Internet? What if you studied grammar books and practiced
writing using prompts from textbooks? Spending much less money than college costs,
what if you traveled around to all kinds of historic sites related to literary figures? College doesn’t exist for education. Like most other major institutions, it’s just
a big money-making enterprise. This is made totally obvious by the multi-hundred
million dollar endowments many colleges are sitting on instead of investing in the students. If colleges cared at all about them, they
wouldn’t sell the students mandatory $2,000 meal plans or charge hundreds of dollars for
used textbooks only to buy them back for $20, to sell for hundreds again to the next sucker. If you are going to go, attend a public college,
community college, or anywhere that offers a full scholarship. Notice that one way to get a scholarship is
through athletic skill despite how it has absolutely nothing to do with academics, though
having high-ranking sports teams can be very profitable for the school. Even when it seems everything will be paid
for, you have to be careful because when you’re part-way in, they can cut off the money and
invite you either to take out loans or drop out, forfeiting all your effort up to that
point. The bottom line is not to get in debt, except
in certain extraordinary circumstances, like somehow being guaranteed a good job upon graduation. It is a big mistake otherwise, and unless
you manage to get into some high-paying field, you’ll probably regret it. What everyone should do is just stop taking
out student loans and stop new money from flowing into this corrupt system, which would
hopefully lead to its unraveling.

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