If one intends to use education as an investment (as in, for the realistic purpose of increasing the market value of your labour), it might be the case that taking debt for that is a good economic decision as well.
I mean, that really depends on a lot of variables whether it’s worth it or not. You should definitely explore any opportunity where you avoid taking on debt (community college, learn a trade, getting the debt forgiven with volunteering programs, studying abroad, studying in your own state,…).
You’re kinds muddling three related but distinct concepts here: “what do I want to do with my life?”, “What can be done to minimize the cost of education”, and"does it make sense to go into debt to obtain the thing".
Someone could (and should) brainstorm all kinds of options, but at the end of the day, (for most of us working class), we’re still faced with the proposition of either taking on some amount of debt, or deferring to save money to pay outright for the thing.
It’s not my place to tell people what they should do with their lives, but given the general question of “should I borrow money to do X”, it just comes down to “does the value over the time of ownership exceed the cost of servicing the debt”.
The only thing you should realistically go into debt for is a house. The other stuff should really only be a last resort.
If one intends to use education as an investment (as in, for the realistic purpose of increasing the market value of your labour), it might be the case that taking debt for that is a good economic decision as well.
I mean, that really depends on a lot of variables whether it’s worth it or not. You should definitely explore any opportunity where you avoid taking on debt (community college, learn a trade, getting the debt forgiven with volunteering programs, studying abroad, studying in your own state,…).
You’re kinds muddling three related but distinct concepts here: “what do I want to do with my life?”, “What can be done to minimize the cost of education”, and"does it make sense to go into debt to obtain the thing".
Someone could (and should) brainstorm all kinds of options, but at the end of the day, (for most of us working class), we’re still faced with the proposition of either taking on some amount of debt, or deferring to save money to pay outright for the thing.
It’s not my place to tell people what they should do with their lives, but given the general question of “should I borrow money to do X”, it just comes down to “does the value over the time of ownership exceed the cost of servicing the debt”.