Page 1Page 2
Page 3
Page 4
Page 5
Recently, a Forbes article "The Great College Hoax" discussed what it means to get a college education and whether or not you really reap the rewards of going through school.
In every effort of dispelling the truth, only for members, one can only speak from experience. The cost of college, masters and medical/doctoral programs with living amounted to over 1.8 M USD in experience, education & training (want to see, I've kept all the receipts). Should you live like a pauper? And what are the costs to becoming publicly known? I've been asked to start divulging the 11 Progressive Money Saving Tips because I lived it during these past 16 years. Every transcript and degree is exposed (with receipts, food bills, expenditures) because it was real evidence of the hard at times. Taking out a loan is not going to solve your problems because the interest is paid before the principal. A real way to destroy a relationship is to marry a sweetheart who is also mired in loans because the reality sinks in. So if you're looking to go to college and to graduate 100% debt free ... how would you do it?
Business is all around you because the sad truth is it costs $ and lots of it to become something. These are no times to go into debt and definitely not to be spending money on higher education unless you know there is a going to be demand.
Here are some questions that will be featured in an upcoming release with http://www.eduplus.com.hk/:
Question: Is college and graduate education a hoax?
Answer: No. But it is very expensive and if you make the wrong moves, reality bites and it bites hard. Like purchasing anything you need to be a wise consumer. Bankruptcy is real and credit scores are very real. Employers will be looking at your credit scores in order to hire in employees and management that will be dedicated and focused. It is really a catch 22. If you live a frugal life, you won't be able to build your score either. So focusing your spending to build credit is critical (you've got 4 yrs). I needed one more year, so I delayed my graduation while holding a 3.97 GPA. Because I did that, the credit part was about 150 pts higher in 1997 vs. 1996.
Question: Is medical education worth it?
Answer: It depends on how much you love something because they say love is always embracing and forgiving of all things. Don't go into medicine for the affluence. That's telling yourself the greatest lie. You will forever need to serve the public and it is important to live a transparent and responsible life. Another recent Forbes article, "Docs in Hock" goes into some details. The article is very slanted because it still states that doctors are doing better than the rest of the public. The real truth is that the medical system is extremely overstressed and was already in junk rated territory decades ago. The musical chairs game stopped on Wall Street but not in modern medicine. As long as we continue to finance the game using research dollars derived with tax payer monies (War on Cancer, War on AIDS) ... regardless of the cure rates, doctors & researchers will have their higher salaries.
Question: You mentioned that your own medical school was in financial turmoil and reduced to junk bond rating, can you explain?
Answer: I suggest you take a look at the following blog link. The articles are all there. I am more than willing to go into the details after you get some hard facts. Financial turmoil, September 11, these were all true. I was young then and students don't know to look at the financials and what it means. You feel on top of the world to get into these programs because of staggering numbers of people getting rejected. Kind of like VIP status. It is like an artist getting their first concert or debut of their CD only to realize this is only the beginning of a nightmare that few will understand.
Question: Will the subprime crisis bleed into student loans?
Answer: Absolutely. The crisis is deepening and I expect over 50% of student loans to be picked up by private third party. This will be much higher interest rates. Forbes does a short coverage on the subprime student loan crisis. It is poorly done because it doesn't quite give the reader a clear depiction of what this really means.
