Yahoo – It’s that time of year, when students prepare to head back to the classroom. For many taking the next step in higher education, the question is increasingly, “Is it worth it?” Millions of millennials have already put off settling down because of the rising costs of servicing college debts to the detriment of economic growth. Student loans are now the second-largest category of household debt in America, topping $1.4 trillion and trailing only mortgages at $9 trillion..“You do stand to see longer-term negative effects on people who can’t pay off their student loans. It hurts their credit rating, it impacts the entire half of their economic life,” Powell said in March. “As this goes on and as student loans continue to grow and become larger and larger, then it absolutely could hold back growth.”
I’m like a junkie getting his fix when the latest “millennials ruined ___” story pops up. I need it like I need air. Baby boomers take every opportunity they can get to label millennials as lazy, entitled, poor tippers, unhealthy, delusional, they blame them for killing Applebees, Office Parks, as well as ruining fine institutions like Sears. In some sick twist of irony, we’re also apparently ruining college enrollment rates.
And now millennials are tasked with ruining the United States Economy.
Millennials get blamed for everything and when we respond with “we’re broke” we get slapped with articles saying the reason we can’t afford to buy a house is because we lack discipline and eat too much avocado toast.
So now the hens have come home to roost. Hey I’m not asking for a handout. My dumbass 17-year-old self signed that life altering contract filled with soul sucking student loan debts. Thats on me. Whether that should be allowed as an option for a teenager who just got their drivers license, yet still can’t buy a pack of smokes is a different question altogether.
But when millennials complain about anything we get told we need to pull ourselves up by our bootstraps, ignoring the fact that the generation before us literally killed social security and luxuries like “retirement” for their kids. Millennials basically just get the speech from The Departed.
Which is all fine, but when all of us 20 somethings with college degrees that aren’t worth the paper they’re printed on, just refuse to spend money on things like houses and cars and weddings because we literally cannot afford it; then the economy takes a hit. Then I laugh. Not because it solves anything, but because I’m a spiteful prick.
You want to see what corruption looks like? Look no further:
“From 2007 through 2017, the CPI rose by 21 percent. Over that same period, college tuition costs jumped 63 percent, school housing surged 51 percent and the price of textbooks by 88 percent.”
Textbook prices increased 88 PERCENT. How the fuck is that even possible? Ask anyone who ever went to college for anything other than law or medicine how many times they used their textbook. Almost never. Buying textbooks was the biggest scam going and I graduated years ago and now I’m learning that prices have only continued to rise?? Do yourself a favor kids;
- Go to state school and save your money, or better yet just punt on college and work a $30,000/year job and live like a debt-free king.
- If you insist on going to college and buying textbooks, don’t be a sheep. Just get the previous year’s edition on Amazon for probably 75% less than what the university is trying to sell you.
Other tidbits from this story;
“Korn Ferry puts the average starting salary for a 2018 college graduate at $50,390”
$50K out of the gates? Maybe the title of all these articles should just be focused on Communications and Journalism majors bringing down the economy because I can tell you I did not touch that salary level in my first job. Not even close.
“[Average starting salaries] up 2.8 percent from 2017, the just-released July Consumer Price Index report shows the inflation rate rose 2.9 percent over the last 12 months. Does the phrase “treading water” come to mind?”
So the minimal increases in salary that millennials are starting to earn immediately gets dwarfed by rising housing costs and inflation rates? Its definitely the avocado toast thats holding kids back goddamnit.