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Permalink Reply by Jo Jerome on June 2, 2010 at 11:06pm

I can absolutely attest to that.

I got my AAS in Computer Networking in 2000. Within a year the dot-com bust turned it into a very, very expensive wall hanging.

Don't want to be a complete downer here. It still does help with some jobs and some people do manage to find that dream gig that keeps them for a lifetime career.

However, don't believe the lie that a degree and good work ethic = job security. A company merger here, a jealous alpha coworker there, an economy crash ... there are a thousand and one ways to lose a job through no fault of your own. And a thousand more ways to not get hired for the next job through no fault of your own.

Worse; when you do hit bottom and have to apply for food stamps or beg the IRS to give you more time on your taxes, you do not get to count student loans as an expense. If you end up declaring bankruptcy, student loans are not forgiven.

My advice for college: NO LOANS!!! If you have to scrape for couch change, if you can only afford a couple of classes a semester, pay for school without loans. In the U.S. at least, you can do your first two years at a community college then transfer everything to the 4-year college. It's the same quality of classes, often the same professors. The only difference is that those first two years will be wildly cheaper and you'll actually come out of it with two degrees instead of just the one.

That's what I'm doing right now for the second degree. And I'm not going into that degree with the sole intend of landing that fabulous money career. I'm doing it as much for the joy of learning a new field.

But take it from me ... "Loan" is a 4-letter word.

Permalink Reply by Buford Twain on June 3, 2010 at 7:54pm

Agree 100% - the mantra should be **AVOID DEBT** !! Not just for college, for life in general.

Sounds like you are doing the right thing.

Community college for 2 years then transfer to 4 year college is a great hack.
Living at home with your parents (if possible and you can stand it!) also saves a boatload of cash.

If you graduate with a ton of debt and aren't independently wealthy you will limit your life choices, potentially quite significantly.