Sunday, January 30, 2011

Education System

I am reading the book generation debt and there is a paradox within this book that will lead to the same shit just compounded. So the whole problem that is facing the education system is the fact that getting a higher education is costing quite a bit of money, and within this people are having to get loans to pay for college thus ending up with debt at the end of it having to pay off that debt for another 10 years after they have graduated. The extra problem in this is that the degree that they go to college for will not provide them a job within their field to sufficiently pay off their debt and support themselves within the system. So a few quotes within the book simply state that we must get parents to get larger loans to help their offspring to go to school and finish school…but that still leaves them with the same fucking problem! That just compounds the problem. The parents are then left with the debt which many cannot pay off…just because they are `parents` does not mean that they can simply pay for one to go to college. I suggest do not take out a loan unless you know that you will be able to pay it off, and do not collect debt, as debt is the death of many people in this world.

The advice from `experts` is irrational they are just speaking from a financial point of view, an economic point of view. Banks benefit and the colleges benefit but the people don’t. They still end up with the experts are only trying to support the banks and colleges further in trying to get more students to go to college by trying to convince the parents to take the debt just so that the kids can afford the entire way through college only to end up on the other end still with no opportunity for a job and then still having that debt and still in the same position

So here is a contrast between me and my sister. She went to college, I didn’t. K so she decided to go to college, she ended up taking out a $10,000 loan to put towards her 3 year education at the college. She went there for a year and decided that she did not want to continue. That loan now needs to be paid off. They only allow it to continue if a person continues their education. She is in a very tough position financially right now, using up every last cent of her income to pay off debt and loans. And there is not much that she can do, but to only continue this until she has got herself out of debt. As well my father co-signed for the $10,000 loan to help her and if she can’t pay it, which she will not be able to, he is going to have to pay it in full, as again they only allow the loan to continue to collect interest if someone is in school, and since she is out they are demanding that she pay it off. So this creates a large conflict between her and my parents because of the money factor, which is sad because this shows that relationships are all dependant on money.

I did not go to college. I was living at home jobless from 18-20, until I started to get kicked out. I ended up getting a job and saving up enough to rent out a place, and then I ended up getting another part-time job to help with money. I am now working 2 part-time jobs, and do not mind where I am at financially. I have no debt, I am actually able to save some money for me to go to school if needed, and I am making sure that I have enough money to go before I decide to go so I do not create unnecessary debt for myself. So I know that within 2 years I will be have at least $10,000 saved up to go to college or further my education where necessary, and again I will not mind doing this for 4 years if need be to make the money for me to go to college. I was able to set myself up financially and take responsibility for my income early on and get myself prepared to go deeper into the system. The only issue right now is job-security, I have one job secured but the other is definitely needed and am working on stabilizing that point.

So right now the education system is taking a turn for the worst. I suggest until governments start funding the education system or until an Equal Money system is put in place do not go to college unless you KNOW that you have the money. And unless you KNOW that there is job security within that field. I am able to support myself by working 2 part-time jobs. Do not take out debt that you know you will have a hard time paying back. It is useless to participate in the system where the individual is constantly fucked around only for profit of banks and colleges. As well An Equal Money System will erase all of this shit existent within/as this system so Support it if you can use common sense.


  1. I have two children in college in the fall. They have orphan's pensions that will be used. But they still are forced to take loans out. I have managed so far to avoid the loans that have interest payments that start immediately. And so far my son has a very small debt, which I will pay off with his last pension payment in his last semester. And this is a deferred loan, meaning interest is deferred until six months after graduation.
    But I am seeing that when one does not use the loan that requires immediate interest payment, the nest year this loan is bigger and the loans where the interest is deferred until six months after graduation are no longer offered.
    BUt, I think that stopping in fear of these loans is not the answer. One can still use the loans minimally and manage to get an education.
    This year I even think about selling my house and moving into the area where my son will attend school. Thus cutting down the expense of dormitory living. Not to mention that housing is cheaper in the south than where I am presently. What stops these things are ideas. My son wants to go to college and have the "college experience" but what has to be understood is getting the education, not having an "of the norm" experience.
    A combination of what is here, and one's ability to use common sense to minimize dependency to systems is a juggling act but it can be done.

  2. Cool point, Paul. My son is only 12 just now but this college thing will be a point of interest some time in the future. I'm quite sure he will not be able to attend university for instance because of the money. Things have a turn for the worse here in Holland too - in the not so long ago-past things were better (although being in debt was always the case; but now the debt will be much larger after you've finished education)So we'll see. I will 'insist' him educating himself though - to be able to support himself financially.

  3. But what happens if there are no jobs in the fields your kids are going into? That means that they are at square 1 again trying to find a minimun wage job to pay off loans and get themselves on their feet. I am saying here that the way money is used is the problem...that we have to go into debt to educate ourselves, an Equal Money System corrects this.