This exerpt is from an article I read the other day. It strikes particularly close to home because I went the route of getting a student loan and going to university. Now I'm finished, working, paying for my school, and frequently wondering if this was the best/only path for someone coming out of college to take in order to be "successful".
The author does a lot of background work and makes many very good points. Keep in mind it is based on U.S. numbers, but a very similar argument could be made for other countries.
Have a read and let me know what you think. I'd love to hear some of your thoughts on this one.
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In 2005, young people (ages 18-25) in the US gambled $67 billion. Not in Vegas or online poker rooms, but on a betterment program called college. Their hope is that the monies they are spending will allow them to earn more money over their lifetime. Many are paying for this wager by amassing a mountain of debt that will take years to pay off. Is it a good wager? Conventional wisdom says so, but with $67 billion on the line (and that's debt accumulated in just one year by college attendees) we should have more than conventional wisdom or parental pressures to guide the way to smart economic decisions.
full article:
http://michaelrobertson.com/archive.php?minute_id=226
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