The problem of College

In the U.S. going to college can be for some people more of a problem than a solution. It all depends upon if people are focused enough regarding what they actually want to do with their lives at 18.

So, the biggest problem I see with college in general is: STudent Loans.

For example, Barach and Michelle Obama were still paying off their law degree loans in their 40s. So, even the most successful people like Lawyers and doctors often are paying off their student loans into their 40s and I have one or more friends with Master's degrees that are still paying off student loans even into their 50s as well.

So, as you can see "Student Loans" themselves can cause many problems in people's lives including preventing them ever owning a home or doing what they actually want in life for the rest of their lives.

And most people at 18 aren't prepared to really think deeply about enslaving themselves to Student loans into their 40s and 50s which might prevent them EVER owning their own home in life because they cannot afford to pay off their student loans AND make mortgage payments.

Then there is a potential solution of getting a free education in Europe under some conditions like if you have dual citizenship say of the U.S. and a European country that allows this. I know one or more people who have done this too. However, often technical degrees from Europe are not accepted here in the U.S. like becoming a doctor or lawyer in Europe. Because it is meaningless often here.

I had a physical trainer who was a trained Physician's assistant in Germany but couldn't practice here. But, she correctly diagnosed my hypothyroid condition because she had the same condition herself when I was in my mid 50s and expected to die from whatever was wrong with me in a few years then. But, because she realized I was hypothyroid I'm still alive even here at age 70 now.

So, there are all these angles to look at all this from. Then there is New York City and San Francisco which both allow a free education through your first two years of college a a 2 year institution but then for example in both cities the rents are so high: "Can you afford 3600 a month for a 1 bedroom apartment in San Francisco to take advantage of a free 2 years of college"?

So, thinking about Student loans and what they could do to your life to financially cripple you might be important these days. Otherwise, if you get 100,000 dollars in loans and wind up with a degree in Advanced basket weaving you might be screwed financially the rest of your lives.

So, think about the financial consequences of whatever decisions you make.

When my son got his degree in Nursing with full honors I had promised him to pay off his loans if he actually got his degree which my wife and I did. If you are a parent and can afford to do this it is also a good idea. What we said was: "YOU have to actually get your degree if you want us to pay off your loans". And so he did this and we paid off his student loans for him.

So, this is one way to go.

But, if you are 17 or 18 think about financially what you are doing to your life. Because STudent loans are not even forgiven during a Bankruptcy. So, this is something to think about too. You might be able to stop the interest on your loans through a Chapter 13 Bankruptcy for example. But, you are still ALWAYS going to have to pay off the principal of your loans no matter what unless you leave the country but that might mean you could never come back here to the U.S. too.