Re:I killed my teenager’s fancy college dreams
by roenxi on Friday December 27, 2019 @02:44PM
(#21893880)
There is also another aspect to the correlation-causation argument. The kids in college are presumably the smart ones in the cohort. We expect them to have much better outcomes than the rest based on intelligence even without getting a degree.
Re:I killed my teenager’s fancy college dreams
by JamesBarney on Friday December 27, 2019 @06:54PM
(#21895940)
Conscientiousness is a huge factor too, but almost all of a person's attributes that would increase their earning potential also increase their chances of getting into college.
Re:I killed my teenager’s fancy college dreams
by marcus_holmes on Friday December 27, 2019 @03:47PM
(#21894496)
Does intelligence correlate to either education or wealth? I didn't think it did...
Re:I killed my teenager’s fancy college dreams
by loopdedoo on Friday December 27, 2019 @04:47PM
(#21895003)
Intelligence strongly correlated with education (~0.5), and adult intelligence is mostly determined by genetics.
https://academic.oup.com/ije/article/39/5/1362/802787
The correlation between intelligence and income also substantial, but seemingly not quite as strong. The correlation between intelligence and wealth is weaker still.
https://www.bcaresearch.com/images/Peter_PPT_presentation%20... https://www.sciencedirect.com/science/article/abs/pii/S01602...
Re:I killed my teenager’s fancy college dreams
by marcus_holmes on Saturday December 28, 2019 @05:35AM
(#21898228)
interesting, thanks for the info. I've met some complete idiots with PhD's, some utter morons with huge incomes, and some geniuses who didn't complete high school. But I guess that's not the normal perception.
Re:I killed my teenager’s fancy college dreams
by JamesBarney on Friday December 27, 2019 @06:52PM
(#21895924)
It correlates strongly with education, reasonably well with income, and only little with wealth.
Re:I killed my teenager’s fancy college dreams
by learc83 on Friday December 27, 2019 @01:44PM
(#21893304)
>As opposed to people who don't have mountains of student debt, and can then afford to take lower-paying, better-for-their-life jobs
With income based repayment, you pay 10% of your disposable income (income over 1.5x the poverty rate) , so this isn't really much of an issue.
Re:I killed my teenager’s fancy college dreams
by marcus_holmes on Friday December 27, 2019 @03:48PM
(#21894503)
To maintain your debt, yes. But to clear it, and finally be free of it, you need to earn a lot of money. That is bound to focus the mind somewhat.
Re:I killed my teenager’s fancy college dreams
by learc83 on Friday December 27, 2019 @05:10PM
(#21895191)
Or wait 20 years until it's cancelled. People regularly take out 30 year home loans much larger than the average student loan debt without debilitating psychiatric problems.
Re:I killed my teenager’s fancy college dreams
by tengbretson on Friday December 27, 2019 @09:42PM
(#21896684)
This isn't comparable in the least, since there's no equity built up over the course of paying off student debt.
Re:I killed my teenager’s fancy college dreams
by learc83 on Saturday December 28, 2019 @12:04AM
(#21897216)
Most people are never going to be able to access the equity unless they retire and downsize.
And people end up in situations where they can't make payments and have to walk away and take the credit hit all the time.
Worrying about the theoretical amount you owe instead of the actual amount you have to pay is just dumb.
Are young people who get through a degree course then super focused on getting as much money as they can because they have all this debt?
As opposed to people who don't have mountains of student debt, and can then afford to take lower-paying, better-for-their-life jobs?
Huge debt is really stressful, and hard on mental health. I don't know the comparative suicide rates of electricians and art grads, but I'd suspect art school is effectively worse for your health than a trade.
People generally have two or even three careers now. Migrating from electrician to manager is about as easy as migrating from software developer to manager.