College bubble and housing bubble

[Coronita]

[quote=Scarlett]Anybody thinks college will become less of a requirement for a decent job? Given that in 10 years from now not that many people would even get a college degree?

What about the idea that companies/employers offer college graduates a minimum pay AND assume the college debt – IF the graduate stays with them for X (5?10?) years. (equivalent of mortgage I suppose). Indentured servitude.[/quote]

Um, I think if you go the “job” route….A degree is going to be mandatory, as more and more people get one. Sorry, some companies just like “check in the box”… And a lot of this is “check in the box”….People love to argue that one is not necessary, but the fact is that companies do care about it to a point…

Sad at it is that, piece of paper sometimes does mean something….Case in point….We were looking to bring in an summer enginerd intern…Turns out he’s going to a well known company with a presence in Seattle. His hourly rate??? $40/hr…..Yup……Check in the box, looks great on paper…

Now if you start your own business, and let your kid inherit it, it probably doesn’t matter what piece of paper you/he/she has…And that’s exactly what I plan on doing….Kid has a nice piece of paper, and inherits a pop shop….

I think more and more importantly, it’s not just getting a degree. It’s what you get it in, and is what you get in it going to be useful.

And the days of seeing employers paying you for training is over (unless you work for the government)…People are expected to either have the skill or not…Because the idea is that if you don’t have it, chances are someone else are in the process of learning it themselves….Company aren’t going to pony up to do massive training, especially since everyone behaves like a mercenary these days.

[Scarlett]

[quote=bearishgurl](…)I think there are and will be too many incoming students who are qualified and want to attend CA public universities when there are insufficient billets. Thus, they will have to go private or out of state if they want to work on a four-year degree. This could cause some parents to move to another state at least one-year prior to HS graduation to establish residency. Or move after HS graduation and their new graduate taking one year off to work. Out-of-state tuition cost 2.5 to 3 times as much as in-state tuition. It is needless to pay that if the parents can otherwise transfer in their job(s) or obtain a new one.[/quote]

I don’t think many parents now close(r) to the retirement (in their 50s) would up and go just for the kid to get residency in a certain state. Jobs for “older” people are harder to find too. So that leaves the kids having to borrow a boatload of money to pay for an out-of-state and/or private college.

Coming back to California – if there will be many more in-state QUALIFIED applicants, wouldn’t that translate in more money paid to the universities => more money to hire/expand teachers/classes etc.?

[Scarlett]

[quote=bearishgurl](…)I think there are and will be too many incoming students who are qualified and want to attend CA public universities when there are insufficient billets. Thus, they will have to go private or out of state if they want to work on a four-year degree. This could cause some parents to move to another state at least one-year prior to HS graduation to establish residency. Or move after HS graduation and their new graduate taking one year off to work. Out-of-state tuition cost 2.5 to 3 times as much as in-state tuition. It is needless to pay that if the parents can otherwise transfer in their job(s) or obtain a new one.[/quote]

I don’t think many parents now close(r) to the retirement (in their 50s) would up and go just for the kid to get residency in a certain state. Jobs for “older” people are harder to find too. So that leaves the kids having to borrow a boatload of money to pay for an out-of-state and/or private college.

Coming back to California – if there will be many more in-state QUALIFIED applicants, wouldn’t that translate in more money paid to the universities => more money to hire/expand teachers/classes etc.?

[Scarlett]

[quote=bearishgurl](…)I think there are and will be too many incoming students who are qualified and want to attend CA public universities when there are insufficient billets. Thus, they will have to go private or out of state if they want to work on a four-year degree. This could cause some parents to move to another state at least one-year prior to HS graduation to establish residency. Or move after HS graduation and their new graduate taking one year off to work. Out-of-state tuition cost 2.5 to 3 times as much as in-state tuition. It is needless to pay that if the parents can otherwise transfer in their job(s) or obtain a new one.[/quote]

I don’t think many parents now close(r) to the retirement (in their 50s) would up and go just for the kid to get residency in a certain state. Jobs for “older” people are harder to find too. So that leaves the kids having to borrow a boatload of money to pay for an out-of-state and/or private college.

Coming back to California – if there will be many more in-state QUALIFIED applicants, wouldn’t that translate in more money paid to the universities => more money to hire/expand teachers/classes etc.?

[Scarlett]

[quote=bearishgurl](…)I think there are and will be too many incoming students who are qualified and want to attend CA public universities when there are insufficient billets. Thus, they will have to go private or out of state if they want to work on a four-year degree. This could cause some parents to move to another state at least one-year prior to HS graduation to establish residency. Or move after HS graduation and their new graduate taking one year off to work. Out-of-state tuition cost 2.5 to 3 times as much as in-state tuition. It is needless to pay that if the parents can otherwise transfer in their job(s) or obtain a new one.[/quote]

I don’t think many parents now close(r) to the retirement (in their 50s) would up and go just for the kid to get residency in a certain state. Jobs for “older” people are harder to find too. So that leaves the kids having to borrow a boatload of money to pay for an out-of-state and/or private college.

Coming back to California – if there will be many more in-state QUALIFIED applicants, wouldn’t that translate in more money paid to the universities => more money to hire/expand teachers/classes etc.?

[Scarlett]

[quote=bearishgurl](…)I think there are and will be too many incoming students who are qualified and want to attend CA public universities when there are insufficient billets. Thus, they will have to go private or out of state if they want to work on a four-year degree. This could cause some parents to move to another state at least one-year prior to HS graduation to establish residency. Or move after HS graduation and their new graduate taking one year off to work. Out-of-state tuition cost 2.5 to 3 times as much as in-state tuition. It is needless to pay that if the parents can otherwise transfer in their job(s) or obtain a new one.[/quote]

I don’t think many parents now close(r) to the retirement (in their 50s) would up and go just for the kid to get residency in a certain state. Jobs for “older” people are harder to find too. So that leaves the kids having to borrow a boatload of money to pay for an out-of-state and/or private college.

Coming back to California – if there will be many more in-state QUALIFIED applicants, wouldn’t that translate in more money paid to the universities => more money to hire/expand teachers/classes etc.?

[Scarlett]

[quote=bearishgurl]Why should anyone else assume someone’s college loan? Most ex-students who have exorbitant loans to pay back used a portion of that money to party, go to Starbucks every day while in school and bought all new books when used ones were available for a fraction of the cost. Or they lived in an apt beyond their means and traveled excessively on school breaks. I don’t feel sorry for some of these students. They used their student loans like a credit card. Eventually it becomes time to pay it back. That’s the way life is. [end of rant][/quote]

Errr…. I have no experience with college loans, but I am very surprised that students are allowed to even borrow more than strictly tuition+books/materials. Don’t they have to justify the expenses?

[Scarlett]

[quote=bearishgurl]Why should anyone else assume someone’s college loan? Most ex-students who have exorbitant loans to pay back used a portion of that money to party, go to Starbucks every day while in school and bought all new books when used ones were available for a fraction of the cost. Or they lived in an apt beyond their means and traveled excessively on school breaks. I don’t feel sorry for some of these students. They used their student loans like a credit card. Eventually it becomes time to pay it back. That’s the way life is. [end of rant][/quote]

Errr…. I have no experience with college loans, but I am very surprised that students are allowed to even borrow more than strictly tuition+books/materials. Don’t they have to justify the expenses?

[Scarlett]

[quote=bearishgurl]Why should anyone else assume someone’s college loan? Most ex-students who have exorbitant loans to pay back used a portion of that money to party, go to Starbucks every day while in school and bought all new books when used ones were available for a fraction of the cost. Or they lived in an apt beyond their means and traveled excessively on school breaks. I don’t feel sorry for some of these students. They used their student loans like a credit card. Eventually it becomes time to pay it back. That’s the way life is. [end of rant][/quote]

Errr…. I have no experience with college loans, but I am very surprised that students are allowed to even borrow more than strictly tuition+books/materials. Don’t they have to justify the expenses?

[Scarlett]

[quote=bearishgurl]Why should anyone else assume someone’s college loan? Most ex-students who have exorbitant loans to pay back used a portion of that money to party, go to Starbucks every day while in school and bought all new books when used ones were available for a fraction of the cost. Or they lived in an apt beyond their means and traveled excessively on school breaks. I don’t feel sorry for some of these students. They used their student loans like a credit card. Eventually it becomes time to pay it back. That’s the way life is. [end of rant][/quote]

Errr…. I have no experience with college loans, but I am very surprised that students are allowed to even borrow more than strictly tuition+books/materials. Don’t they have to justify the expenses?

[Scarlett]

[quote=bearishgurl]Why should anyone else assume someone’s college loan? Most ex-students who have exorbitant loans to pay back used a portion of that money to party, go to Starbucks every day while in school and bought all new books when used ones were available for a fraction of the cost. Or they lived in an apt beyond their means and traveled excessively on school breaks. I don’t feel sorry for some of these students. They used their student loans like a credit card. Eventually it becomes time to pay it back. That’s the way life is. [end of rant][/quote]

Errr…. I have no experience with college loans, but I am very surprised that students are allowed to even borrow more than strictly tuition+books/materials. Don’t they have to justify the expenses?

[briansd1]

[quote=flu]
Now if you start your own business, and let your kid inherit it, it probably doesn’t matter what piece of paper you/he/she has…And that’s exactly what I plan on doing….Kid has a nice piece of paper, and inherits a pop shop….
[/quote]

Be sure to do proper estate planning and transfer the shares of the company to your heirs at the most appropriate and beneficial times.

[briansd1]

[quote=flu]
Now if you start your own business, and let your kid inherit it, it probably doesn’t matter what piece of paper you/he/she has…And that’s exactly what I plan on doing….Kid has a nice piece of paper, and inherits a pop shop….
[/quote]

Be sure to do proper estate planning and transfer the shares of the company to your heirs at the most appropriate and beneficial times.

[briansd1]

[quote=flu]
Now if you start your own business, and let your kid inherit it, it probably doesn’t matter what piece of paper you/he/she has…And that’s exactly what I plan on doing….Kid has a nice piece of paper, and inherits a pop shop….
[/quote]

Be sure to do proper estate planning and transfer the shares of the company to your heirs at the most appropriate and beneficial times.

[briansd1]

[quote=flu]
Now if you start your own business, and let your kid inherit it, it probably doesn’t matter what piece of paper you/he/she has…And that’s exactly what I plan on doing….Kid has a nice piece of paper, and inherits a pop shop….
[/quote]

Be sure to do proper estate planning and transfer the shares of the company to your heirs at the most appropriate and beneficial times.

[Author]

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