The Kind of Letter I Hate to Receive: Debt for College.
Feb. 25, 2008
College doesn't pay if you do it the wrong way. Most families do it the wrong way.
Here is an example. I received this on February 24, 2008.
wish I had read your newsletter 4 years ago. You are absolutely right. My daughter went two years at Community College and then transferred to Syracuse University to Newhouse School of Communications. Yes, a good school, and for what she thought she wanted to study (Radio/Film/Television)….one of the best. She had to "Intern" to NYC for no money for the summer. She always worked while in school but guess what happened when she graduated?
The only jobs available in NYC were mediocre, low paying, Temp work with no benefits (at MTV, VH1, etc.)! I borrowed $52,000 in my name and she has a $17,000 loan in her name. If I could sue someone I would!
I am a secretary and her tuition was a little less than what I MAKE in a year! The only way I will pay this off is to take it out of my retirement savings. In the meantime, I have the loan the size of a car payment.
NOW -- she has decided to become a teacher! Which is good except you guess it, she has to borrow more money!
Oh well, I will be living in a grass hut in South America somewhere before this is over!
I will be subscribing to your Newsletter!
Don't let this happen to you. Anyone can earn a college degree with the money earned at a part time job at a fast food restaurant.
If only they had known. I have posted the truth here.
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