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URL:  http://boards.fool.com/one-should-not-go-to-university-or-college-if-one-31137284.aspx

Subject:  Re: Don't do this.... Date:  2/25/2014  7:14 PM
Author:  1DEG Number:  880449 of 884510

One should not go to university or college if one needs to borrow in order to pay for it. I was a student from 1962 - 1967, and again from 1972-1976 without ever having to use student educational loans at all.

Add me to the chorus of people who think that blanket advice like this is absolutely silly. When I wanted to go to graduate school I had a couple of options. Very cheap state university part time for 4 years while working part time, which would have required no loans. Pretty cheap state university full time for two years, ability to work during summer breaks and a little during the year, and would need loans. Very expensive private university with exactly the same reputation and mostly the same faculty as choice 2 at 5 times the price requiring lots of student loans.

I ran the numbers, and number 3 made no sense, so that was out. It turns out that the jump in salary that I could expect going from the job I had to my new career would more than make up for the loans I had to take in less than 2 years. Furthermore, delaying that earning potential by two years so that I could go part time and work (option 1) was going to cost me in lost income more than the loans for option 2.

Sometimes loans make sense. Sometimes they don't. The fact that they didn't make sense for the person in the OP does not mean they never make sense at all.

DEG
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