Graduation day should be liberating! You’ve accomplished a goal. You’re ready to begin life in the real world and make a living for yourself. BUT DON’T DO IT… ADULTING IS A TRAP!
According to a recent Citizens Bank ‘Student Lending Survey,’ 74% of Americans with student loan debt “wish they had done more to minimize the burden.”
Hindsight is 20-20 and, according to the survey, a double-edged sword. 53% of survey respondents say they could have racked up less debt if they had discussed it sooner with their parents. However, 61% say their parents didn’t have a full understanding of the costs of higher education.
Citizens Bank President of Consumer Deposits and Lending Brendan Coughlin says “Students need to have a plan before they start their college career.” And parents have a responsibility to discuss the “harsh realities of life” with their kids, says Fox Business’ Daniel B. Kline.
I had a weird college situation. I started at a community college because I wasn’t sure what I wanted to do, so I figured I’d get my basic classes out of the way (in the least expensive way, since I paid for my own college). Then I went to a vocational school for radio, thinking that I’d have plenty of time to go back and get my Bachelor’s Degree… but I got lucky and got a full-time job in radio as soon as I finished the program. I still wanted to get my Bachelor’s, so I finished all of my classes (about 2.3 years) online… AND THAT WAS A HUGE MISTAKE. It was so incredible expensive and I don’t even use the degree at all right now. So frustrating. $50k… FOR AN ONLINE DEGREE THAT I DON’T EVEN USE.
Good thing I’m not bitter about it or anything.