Here's the deal.....if you stupid at 18, and selected some school giving a 4-year degree in worthless BS....then graduated to get a $45,000 salary, and ten years later....you've only bumped up to $55,000...you are SCREWED for the remainder of your life.
I've seen differing statistics on this....but generally...at least one-out-of-three college graduates are wrapping up a degree, and generally considered 'under-employed'....meaning you have a job that could be done by a high-school graduate, or a 1-year to 2-year community college 'player'.
In this scenario....if you were hoping to move up to that $75,000 job in five years....it probably will not happen.
So you have a college loan debt problem....maybe in the range of $40k to maybe up to $80k (especially if this were a out-of-state scenario).
If you talked your dad into paying most of the $75,000 and are under-employed? Well....its best you not tell dad how you wasted four years or the $75,000.
I watch this new TV series....'Georgie and Mandy's First Marriage', and in the main theme of the show....Mandy spent four years getting a communications degree....only to be mostly a waitress, and part-time weather-girl for the local TV channel. The degree? After a while, you come to realize....dad wasted his money sponsoring her, and she's got no real path in life.
So, I have this gut-feeling....that around five-million Americans hold a worthless degree, and probably are under-employed....meaning they are on the low-end of salary....for the first twenty-odd years after graduation from college.
The attitude that they want the loan forgiven? Then leave it to the non-college folks to pay for the loan? It won't work.
The gov't loan program likely ending? I would suggest....by the end of 2026.....there's a massive drop in college enrollments....with the gov't getting out of the business.
