Comparing student debt to buying land is funny.
At least with land you are guaranteed to be the owner of an asset. Something physical, a location, that other folks might at some point pay a price for (regardless of what you paid).
Student loans don't guarantee anything. :)
No, not even a pass.
In my case the choice was use student loan money to pay for living expenses (which were extremely meager) while in college or not go to college at all. It was part of my educational investment.
It was totally worth it, the loans are long paid off, and the investment has paid untold dividends in the form of a salary I wouldn't have the chance at if I didn't go to school.
He went to a several month long intensive coding bootcamp, with tuition fees for the entire course is between $10-15k
For comparison, I am paid $58/hr with benefits, my co worker is paid $50.
Higher education is vastly overcharged and overrated.
"Mr. Beecher advised young men to get in debt if they could to a small amount in the purchase of land, in the country districts. “If a young man,” he says, “will only get in debt for some land and then get married, these two things will keep him straight, or nothing will.” This may be safe to a limited extent, but getting in debt for what you eat and drink and wear is to be avoided"
In some ways, student debt is similar to land in that it can provide a return on investment that allows for paying off the debt over time. The main difference being that land is tangible and can be sold to pay off the debt completely.
Borrowing for food, clothing, and other items that tend to be used up or worn out before they're paid off does seem like a terrible idea.