Posts tagged student loan debt
Every now and then, I’m contacted by people recently graduated from Ivy League schools who want to go to work for WordPros.
The potential interviewee is usually in their mid-twenties and has never published anything. Not even an article in the school paper.
Me: “And why do you want to be a writer?”
Grad: “Oh, I’ve ALWAYS wanted to be a writer.”
Me: “What have you written?”
Grad: “Oh, I’ve been too busy getting my degree to publish anything.”
Me: “Not even a blog?”
This phenomenon has ALWAYS puzzled me. But I carried 18 credit hours a semester while working three part-time jobs (yes, it nearly killed me and my GPA, but I made it). I even periodically squeezed in some volunteer work.
Gradually, over the years, I’ve realized there’s a certain class of professional student who never feels quite qualified enough to actually get a job and GO TO WORK.
So, they’re endlessly preparing, gathering credentials, planning to have all the certifications they may ever need to do the best job EVER in any field.
Without actually doing any real work. Just PREPARING. Forever.
(I even blogged about one facet of this phenomena, “failure to fledge,” last Spring).
Here’s a fascinating article from Bloomberg, highlighting a painful fact of life for holders of Masters Degrees in today’s job market:
About one-third of people with master’s degrees make less money on average than a typical bachelor’s degree holder, said Stephen J. Rose, a labor economist with Georgetown University’s Center on Education and the Workforce, citing U.S. Census data.
Students who borrow to fund their further education are finding themselves in dire situations. One student plans to arrange to pay 15% of his salary for the next 25 years, with the understanding that the remaining debt will be forgiven after that time.
Is the treadmill really worth it? Probably not.
Click here to read the full story: Trapped by $50,000 Degree in Low-Paying Job.