Our expert in all things legal related discusses the situation college students face when taking loans. He is studying to become an attorney and while that may sound like a profitable career, the prospect of $150,000 in of student load debt and a starting pay of $50,0000 sounds criminal.
To top it off, Terry relays the fact that the only way to pay it off for many people is to go into the military, which may be the situation Tom Cruise faced in A Few Good Men. If this sounds daunting to you, then maybe you can’t handle the truth!
His college professor faced this situation with mounting debt and served in the Marines and is not hooked into the college system. This means that a once promising free market mind was sucked into massive debt and faced with some tough decisions chose the public sector. Would he have pursued the private sector if the debts were not absolutely ridiculous? It’s tough to say but Terry discusses how he hopes to be his own boss with his own practice, with the public sector a fall back plan to pay of the debts. It’s reasonable to assume most people would also take this approach.
As far as the ‘general studies’ type of students, maybe it’s best that you don’t go to college at all. The government is more than happy to loan cash for college because then you become a slave to them, as they look to cash in on your hard work after college. The hassle, stress and time it takes to pay something as large has $30,000 in debt (or in Terry’s case, $150,000) really may make the college experience not seem quite as special when you are done.
How quickly times have changed. Back when I graduated from High School in 2000, it seemed like anyone with their head on straight would suck it up, go to college and then get a real job. Going into the web development and marketing industry, I learned more in my first year of real work than all of college. This is not to say I did not learn anything but the value does not equal the debts still owed.
To those people ‘on the fence’ you should watch this video and Terry will explain how the system works and be sure college is necessary for you. When I was 18 years old I never wanted to miss the party and college to me was what I had been waiting for. But maybe you can simply leave near a college if that scene interests you and work real jobs that will enable you to save money, learn the needed trade skills and put yourself in a position to buy or invest rather than seek out a government job just to avoid the Uncle Sam hammer fist.
The bottom line is that bright minds like Terry’s are best left for the private sector and any and all caution should be taken by people like him to avoid common pitfalls and ways of getting shielded from self empowerment and entrepreneurship.
You can find Terry’s blog at JusticeMayBeBlind.com.