University LLC.

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2 in 5 student loan borrowers are delinquent at some point in the first five years of entering repayment.

A college education is almost a necessity in today’s society. Some people are fortunate enough to be able to skate-by and live comfortably without a college education. Kudos to all of those who’ve been able to accomplish that feat. Then there is a large population of those who have toiled for 4-plus long years (2 or more, for those with Associate’s Degrees) to graduate. The paper and ink only worth pocket change, but the simple fact that it states that you finished college is the most expensive aspect of that piece of paper.

College education is becoming less of an option and more of a requirement. Colleges hire recruiters to travel all over to bring in potential students. These students pour in thousands of dollars (money that most students do not have) to pay for tuition, lab fees, books and the various other charges the university decides to apply to the students.

After these many years of being overwhelmed with the mounds of classwork, we have a few months of enjoyment until those loan companies begin calling and calling and calling…and calling and calling. Nine o’clock in the morning, they’ll call. Nine o’clock in the evening, they’ll call. They have no courtesy when it comes to getting their money. Don’t make a payment on time and it can feel like these companies are harassing you.

Everyone is expected to continue their education after high school, despite the fact that school isn’t for everybody. The way the world is shaping, I could learn just as much on a topic by Googling it, watching some videos on YouTube or visiting Wikipedia. Quite frankly, I would rather know 75% of a topic for free rather than be tens of thousands of dollars in debt to know close to 100% of the topic.

Let’s be real- higher education is one of the most successful businesses in the United States. Some teachers, professors and instructors are compensated minuscule while the president and sport coaches enter into lucrative contracts.

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Americans owe more in student loan debt than credit card debt”

Universities require that students pay tens of thousands of dollars a year for an education, require that we attend every class and assign hours of homework assignments. There’s no guarantee that all of the dedication, hard work and money spent will translate into a career. Now you’re unemployed or under-employed barely making ends meet to pay back the school you attended. Ridiculous! Not to mention that the cost of tuition increases every year.

 

In University LLC. Part 2, I will go over the statistics of this lopsided industry.

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