The university system has built its self around a new form of guaranteed debt (ie, the government will make sure they get paid back in full), and so they have joyfully participated in a new era of Indentured Servitude. This is education today and it has no relation to the realities of the job market!
My advice is to not buy into the need to go to college right away and stay at home a few years to explore more of the world and try out part-time jobs and internships in fields your interested in. Try it all. Study the general information in the fields you like and be ready to take a few general classes each year, so that you can work full time and carry the costs yourself with no worry down the road.
So parents and children: Don't buy all the hype and don't buy into this new educational Monopoly!!!!!
Russof NJ2:40PM March 14, 2011
Veronica, the Depression and WWII were like, totally depressing. OMG! History is so hard, lets go shopping!! What else do you have in your skill set, besides entitlement?
HOof MO12:19AM March 14, 2011
'"Many young people, especially those from lesser means, see the price tag [of college tuition] and think, 'Oh my god, I can't possibly take that on.' They could be shortchanging themselves,' says Ray, since college is an investment that pays off.'
The thread of thought which permeates this opinion is that being frugal and fiscally conservative are somehow unwise. When I attended college in the 70s, in state tuition was about $70 a quarter (this not including books and other costs). I just checked online, at the same university, and the yearly tuition is about $9,000. That is a staggering difference. There was no student loan as we could afford it though that seemed like a lot of money at the time.
College education is an excellent idea If a person has a very definite idea of the field he/she wishes to be in, and has a good idea of future earnings potential in that field.
My parents went through the Great Depression and were deeply affected by it, as I imagine many young people have been affected by this severe recession. Their values of frugality were passed on to me, and it has helped me greatly in managing money throughout my life. I applaud many in Gen Y who are likely more financially responsible than perhaps even some of their parents are.
Tim Bof WA3:39PM March 05, 2011
My parents didn't have to go through miserable period of time in their 20s. My dad was an officer in the Army and was a captain when he was my age. They had 3 kids, a dog, and either guaranteed housing or a housing allowance. They have NO idea what it's like to be in the latter half of your 20s and not be on a career path and to be treading water and tolerating a job that is beneath one's skill set.
I left my job without finding another one because it was a miserable place to work and was giving me panic attacks and I DON'T have kids or bills that must be paid (the student loans I'll forbear on if need be), but the jobs I'm looking at pay less than the meager money I was already earning. I feel like all I do is tread water...but the thing is I've been treading water for nearly 2 years.
veronicaof NH10:17PM March 02, 2011
I am a baby boomer who has two GenY children, and I think they, and their generation, are great. I remember growing up in the 70's and they were pretty scary. But they were not as bad as now. Today's kids have a right to be a little tentative and uncertain. But I am proud about how resilient and mature my kids have turned out. They are much more aware of the world and society than I was at their age.
I have told my kids that I do not have a clue as to how to navigate the world that is evolving, but I will help them in anyway I can. (Many of the up-and-coming professions of today did not even exist back in the 70's. How can I tell them what they should do?) I only wish that I had made more social contacts and such over the years that could have made their way a little easier.
GenY is going to turn out fine, but we have got to give them the time and space to reinvent and reengineer themselves.
Allynof HI5:44PM March 02, 2011
Please add Barbara's last name to the first line of this article. I found myself wondering who Ray was. Thanks!
Rebeccaof KS4:22PM March 02, 2011
I've read far too many articles pitching the idea that young people live at home because we're coddled, lazy and dependent upon our parents. If I could afford to live anywhere but home, I absolutely would. Baby boomers just don't seem to understand that there's just no money out here. After decades of falling wages and the outsourcing of physical and entry-level jobs, combined with increasing housing, transportation and food costs, we're stuck living at home, doing our best just to claw our way out of, or to stay out of debt.
Thank you so much for being one of the few people in the media who understands. Let's just hope that we can pressure the baby boomers to invest in us, rather than on themselves and their precious tax cuts.
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Russ of NJ 2:40PM March 14, 2011
HO of MO 12:19AM March 14, 2011
Tim B of WA 3:39PM March 05, 2011
veronica of NH 10:17PM March 02, 2011
Allyn of HI 5:44PM March 02, 2011
Rebecca of KS 4:22PM March 02, 2011
Megan of MD 10:57AM March 02, 2011