29 Shocking Facts That Prove That College Education In America Is A Giant Money Making Scam

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College Graduates By Kit from Pittsburgh, USACollege education in the United States has become a cruel joke.  We endlessly push our high school kids to invest tens of thousands of dollars and at least four years of their lives to get a college education because they won’t have any sort of a “future” without it.  So they sign up for decades of debt slavery and spend years listening to pompous windbags fill their heads with utter nonsense.  The sad truth is that most college courses are a total joke and they do very little to actually prepare those students for the real world.  I know – I attended public universities in the United States for eight years.  Most college courses are so easy that the family dog could pass them.  When they finally graduate, our young people discover that they were lied to all along.  The promised “good jobs” are not there for most of them, but the huge debts that they committed themselves to will follow them around permanently.  When you are just starting out and you are not making a lot of money, having to make payments on tens of thousands of dollars of student loan debt can be absolutely crippling.  This is why I say that college education in America is a giant money making scam.  Our young people are seduced by the idea of college being a five year party that will provide an automatic ticket into the middle class, but the reality is that the only guarantee is that it is a ticket to serfdom unless you have wealthy parents that are willing to foot the bill for you.  And bankruptcy laws have been changed to make it incredibly difficult to get rid of student loan debt, so once you have signed up for student loan debt slavery you are basically faced with two choices: either you are going to pay it or you are going to die with it.


Yes, college graduates do make more money and they do have a lower unemployment rate.  But most of them are also burdened by absolutely suffocating levels of student loan debt that will haunt them for decades.

So who is really better off?

If you can get someone to pay for your college education that is great.  Because otherwise you are probably getting a rotten deal.  The following are 29 shocking facts that prove that college education in America is a giant money making scam…

#1 In 1993, the average student loan debt burden at graduation was $9,320.  Today it is $28,720.

#2 In 1989, only 9 percent of all U.S. households were paying off student loan debt.  Today, 19 percent of all U.S. households are.

#3 Young households are being hit particularly hard by student loan debt.  In America today, 40 percent of all households that are led by someone under the age of 35 are paying off student loan debt.  Back in 1989, that figure was below 20 percent.

#4 According to the Consumer Finance Protection Bureau, Americans owe more than a trillion dollars on their student loans.

#5 According to the Federal Reserve, the total amount of student loan debt has increased by a whopping 275 percent since 2003.

#6 Approximately 65 percent of all student loan debt is owed by those under the age of 40.

#7 The delinquency rate on student loans is currently 14 percent and it is steadily rising.

#8 The delinquency rate on student loans for students that attended a “for profit” college is an astounding 23 percent.

#9 Today, 34.9 percent of all student loan borrowers under the age of 30 are at least 90 days behind on their student loan payments.

#10 Since 1986, the cost of college tuition has risen by 498 percent.

#11 The cost of college textbooks has tripled over the past decade.

#12 The average cost of a four-year college education is projected to soar to $120,000 by the year 2015.

#13 Back in 1952, a full year of tuition at Harvard was only $600.  Today, it is over $35,000.

#14 According to the Federal Reserve Bank of New York, approximately 167,000 Americans currently have more than $200,000 of student loan debt.

#15 At most U.S. colleges and universities, the quality of the education that you will receive is very poor.  Just check out some numbers about the quality of college education in the United States from an article that appeared in USA Today….

-“After two years in college, 45% of students showed no significant gains in learning; after four years, 36% showed little change.”

-“Students also spent 50% less time studying compared with students a few decades ago”

-“35% of students report spending five or fewer hours per week studying alone.”

-“50% said they never took a class in a typical semester where they wrote more than 20 pages”

-“32% never took a course in a typical semester where they read more than 40 pages per week.”

#16 One survey found that U.S. college students spend 24% of their time sleeping, 51% of their time socializing and 7% of their time studying.

#17 Federal statistics reveal that only 36 percent of the full-time students who began college in 2001 received a bachelor’s degree within four years.

#18 27 percent of those with student loan debt said that they moved back in with their parents after college.

#19 14 percent of those with student loan debt said that they delayed marriage because of their student loans.

#20 Real earnings for young college graduates have fallen by 15 percent since the year 2000.

#21 If you think that you will be able to “beat the odds” and land the job of your dreams once you graduate from college, perhaps you should consider these numbers….

-In the United States today, approximately 365,000 cashiers have college degrees.

-In the United States today, 317,000 waiters and waitresses have college degrees.

-In the United States today, there are more than 100,000 janitors that have college degrees.

#22 The federal government has begun docking the Social Security payments of elderly Americans that are behind on their student loan payments…

According to government data, compiled by the Treasury Department at the request of SmartMoney.com, the federal government is withholding money from a rapidly growing number of Social Security recipients who have fallen behind on federal student loans. From January through August 6, the government reduced the size of roughly 115,000 retirees’ Social Security checks on those grounds. That’s nearly double the pace of the department’s enforcement in 2011; it’s up from around 60,000 cases in all of 2007 and just 6 cases in 2000.

#23 According to a survey of 4,900 recent college graduates, more than half of them regretted choosing their major or their school.

#24 One poll found that 70% of all college graduates wish that they had spent more time preparing for the “real world” while they were still in school.

#25 48 percent of all recent college graduates have not been able to find a job in their chosen field.

#26 During 2011, 53 percent of all Americans with a bachelor’s degree under the age of 25 were either unemployed or underemployed.

#27 According to the ABA, only 56 percent of all law school graduates in 2012 were able to find a full-time job that requires a law degree.

#28 The median student loan burden for medical school students that graduated in 2012 was $170,000.

#29 Close to half of all recent college graduates are working in jobs that do not even require a college degree.

When you are overwhelmed by nightmarish student loan debt that you can never get away from, it can literally take over your life.  A recent Businessweek article shared some real life examples of this…

If student loans are good debt, how do you account for the reaction of Christina Mills, 30, of Minneapolis, when she found out her payment on college and law school loans would be $1,400 a month? “I just went into the car and started sobbing,” says Mills, who works for a nonprofit. “It was more than my paycheck at the time.” Medical student Thomas Smith, 25, of Hamilton, N.J., is $310,000 in debt and is struggling to make ends meet even before beginning to repay his loans. “I don’t even know what I eat,” he says. “I just go to the supermarket and buy the cheapest thing I can and buy as much of it as I can.” Then there’s Michael DiPietro, 25, of Brooklyn, who accumulated about $100,000 in debt while getting a bachelor’s degree in fashion, sculpture, and performance, and spent the next two years waiting tables. He has since landed a fundraising job in the arts but still has no idea how he will pay back all that money. “I’ve come to the conclusion that it’s an obsolete idea that a college education is like your golden ticket,” DiPietro says.

What about you?

Do you have student loan debt or do you know someone who does?

If you would like to share a student loan debt story, please post it below…


  • condaggitt

    Then you have this flooding CL everyday…..notice the pay….

    Pre-Production Intern for Award-winning Producer/Director (Greenwich Village)

    We are seeking an intern to work a minimum of 20/­24 hours per week (3
    days a week) who are able to commit to a minimum of 3 months. The
    position is unpaid.

    Intern will be responsible for assisting with all business and personal
    aspects of our small pre­production office. Given that we work with top
    Hollywood talent, producers, and agents, this is an excellent
    opportunity to see how Hollywood works while staying in NYC and working
    for an Emmy and Peabody award winning producer/writer/director.

    Candidates should be proficient in Final Cut, have a strong academic
    record, and a strong interest in reading and writing. Attention to
    detail, excellent oral and written communication skills, and strong
    research skills are very important, as well as being highly organized
    and responsible.

    We are looking for someone who is knowledgeable and passionate about
    film and has a desire to be part of the industry. Interested candidates
    should send resumes and include a cover letter in the body of your

    Compensation: Unpaid
    This is an internship job

    • So how is such a person supposed to survive in a place like New York City for three months?

      • condaggitt

        your mommie and daddie….seriously Ohbewanna has gutted most labor laws by not prosecuting or at least using his bully pulpit to chastise companies for demanding people work for free.

    • Busted Baby Buster

      This has been going on for decades (especially in the entertainment business)…back in 1997 when I was a young associate level attorney in Texas, I got offered the ‘opportunity’ to work with an NYC record company for $15,000 a year. I laughed heartily at the putative employer right after he made the offer (over the phone). I had charged him more for the tiny task (finding, buying & sending him some master tapes from a small defunct since the 1970’s Texas record label) he had initially hired me to do (~$1000 for 10 hours work).

      But your point is well taken because it’s not just ‘the biz’ that wants free educated serfs anymore, it’s every business.

      I’m in the baby bust generation (the one right after the boomers) and everyone I know is either contract working and/or still in edu-debt (I am one of the rare lucky ones who with my parents saved up enough money so when I picked up my piece of fancy paper it was 100% paid for, though at the time I was annoyed that I didn’t get a penny of any kind of aid despite my hard work at my pre-college schooling).

      A lot of us haven’t gotten married or had kids or bought houses as we graduated into a recession because we saw the handwriting on the wall back then.

      I even had a friend die recently (and unexpectedly) at the ripe old age of 45 and he still owed more than half on his medical school tuition. Guess he should not have gone to work as a pathologist for different county coroner’s offices if he ever wanted to be debt-free.

      These people I was an undergraduate with are all graduates holding bachelors (or more) degrees from at least one top 25 private non-profit institution which actually did provide us with a rigorous education (at my alma mater we did insane amounts of reading 100+ pages a night per class, problem sets, laboratory reports, paper writing and studying for exams where frequently 31/100 was the top grade on an exam because the professor asked grad student level questions of undergraduates) and they all took degrees in the so-called coveted STEM (science technology engineering & mathematics) areas.

      Yet we compete with imported labor on visas because they’re ‘too smart’ & therefore too expensive. And our country gets 3rd rate tech in the bargain while still loudly and publically whining about how there aren’t enough science and engineering and technology graduates in our country (what they mean is that none of us wants to be a lab serf with no outside life, what a pity it is that we’re smart about more than equations and scientific principles).

      My advice to these kids just getting out of school (and ideally I’m talking high school and not any kind of higher degree which they are going to have to pay for yet) is to learn to take care of elderly people with money (health needs, companionship needs, transportation needs, psychological needs or what have you) That’s where the only growth opportunity is in the USA (and in fact in most of the countries with advanced industrialization like Japan and Europe). if you’re related to them so much the better as you might even get included in the estate’s distribution but if not you’ll have steady work as long as you can stand it.

      • condaggitt

        Thanks Busted…I would love to out this award winning producer but CL has a new mail system that wont let you attach a return receipt….

        Your advice is well taken but when my father got sick, emphysema it was very hard on me to see my father that way after leading an active life….so for me it was hard, now one of my brother jumped in to help mom and he was cool with it..my father understood….so i helped mom during the week since back then I was a full time wedding dj and all my weekends were taken..

        I am also now running an internet radio station, and we have been looking for people to host their own radio shows. I have gotten well over 250 responses and here is the breakdown, over half are actors actresses and they all lack one skill….while they are always waiting for a script, a radio talk show host writes their own…and with all that expensive education script writing is never a priority. and then they expect to get paid. And they get indignant when they should be paying me to teach them.

        I received over 40 people with communications degrees and a lot said they had radio experience..and almost none used the college radio station and again they expect to be paid with no experience.

        Plus almost none of them ever kept a record of themselves or a podcast..again breaking the #1 rule in radio…record everything..and they get angry with me for wanting to get paid for providing a service when they should have had 50-100 shows on line from their 4 year $100,000+ education

        What this means is Steve Jobs was right smart phones make you dumb. All that reading and searching you and I did was done before the internet. These kids today have no clue what a library is.

        Or how to use the internet to search for answers. To me this was shocking. I mean could you just spend a little time researching how to be a radio show host before you contact me?

        • Busted Baby Buster

          @condaggit Too few actors have enough education period to do most jobs in the business. They need to keep taking classes (in improv, voice lessons, the new 3D filming processes, self-promotion, business/accounting classes, how to network etc), they need to do workshops and so on. Writing classes would not hurt, but unless they are considering doing what you’re doing (talk shows on radio or TV or now the Internet) they’re not yet essential (but I can envision a world of the future where all a pretty face gets you is a trip straight to the casting couch)

          Rank & file actors have also sold themselves out during the last few union negotiations but I’d prefer not to get into SAG & AFTRA politics here because it’s too far afield of Mike’s topic. Suffice to say, too many actors vote famous actors into officer positions in their union and these folks have long ago stopped needing the standard union agreements to get protected and paid. The non-name actors as star-struck as everyone else and these name actors (who now have production companies of their own) are also not above screwing younger/less experienced talent over to make themselves some more money casting them at bargain basement prices in their vanity productions (where they collect checks as producers and as actors) thanks to the weakening of the standard union agreements. They’re not playing at the level of the AMPTP producers (i.e. the big 6 media conglomerate CEOs and executives who make way more than they ever will) but they’re playing the same sleazy games just on a much smaller scale. Trust me when I say it will not end well for the current names running the unions into the ground to get paid now.

          Anyway the take home here is don’t go to college to get a job. Go there to get an education of a specific kind or to have a certain social/ rite of passage experience (and no I don’t mean partying 5 years straight, taking oodles of substances and having lots of sex…you don’t need to pay tutition to do any of that). And if you are going to go do it as cheaply as you can.

          And yeah I think the smarter the phone the dumber the human doing the thumb dance to use it becomes. I don’t own one because I don’t need one (and I don’t want to become a monthly payment consumer / debt serf just to have another toy that will lose its novelty appeal the second I’ve signed myself into debt bondage.

          I still say you need to get skills to deal with the elderly…chances are if you can’t get a job working for one you could be the one in your family saving its potential estate from being spent down for health care and funeral costs. This is what I’m doing right now (I do a little legal consulting work on the side for attorney friends of mine while I keep my father, who is a pre-boomer WWII baby, out of a ‘memory care facility’ and in his own home).

          If anything kids today need to learn what I had to learn as an adult kid: how to be frugal and downsize their wants and live their own kind of contented life College will do zero towards teaching them this…they will have to get out there and read books and search the internet and think for themselves to get themselves to their own good life.

        • piccadillybabe

          Internet radio is huge now but a lot of it is stupid, i.e., UFO, Big Foot crap, ghost and paranormal crap. People are hungry for intelligent minds talking about real issues and how to deal with life today and stay focused and grounded. These people are out there and if you are good at it, you could make a decent living and gain some notoriety. Thought about it myself. I would not be in it for the money or the notoriety but just to give people some truth and sincereity when so much pumping and dumping is going on.

        • ponerology

          Dumb as rocks but perfect for the new world order.

    • ponerology

      Yes, here at the homestead we call these people mother-freakin’ leeches.

  • Tim

    It’s the time of year when thousands and thousands of students graduate from college. I wonder how that will affect the unemployment rate over the next few months?

    • Pauly

      It will go down, as the gov. will cook the number to compensate for the grads.

  • WarriorClass III

    It is the corporate policy of all international businesses, especially in the energy sector, operating in the United States to hire foreigners – not to save money, because the cost to import them is very high and their salaries are far higher than American nationals – because they can destroy the American middle class by doing so.

    This is destruction by design, and the US government is all in on the deal – getting large payoffs from Big Oil and others for each foreigner brought in to this country. If you don’t believe me, go into any upper middle class neighborhood and see how many Indians, Asians and Europeans live there compared to native born Americans. You will be astounded. Once the American middle class is completely eliminated, of course the foreign workers will be dropped in favor of cheap American labor, and the destruction of America will be complete and the landscape littered with unemployed foreigners demanding welfare.

    This process is already so far along that there is no way it will be changed by punching a button on your rigged voting machines.

    Why would these businesses do this and why would our government promote it? First there are massive payoffs everywhere in the Worker/Student visa programs using your tax dollars. Think YOUR congressman isn’t payed off? Think again. Ultimately the goal is total control of the world and the American middle class is in the way. Even as gun and ammo prices double, Americans are buying everything produced in these industries and there isn’t an arms manufacturer or ammunition factory that can keep up. Obama has cut off imports to help dry up the market – the LAST thing he wants is an armed America.

    The American people are aware that something is VERY WRONG even if they can’t put their finger on exactly what it is – And America is preparing for war. Make no mistake about it – they are not just buying “guns;” the American people are buying military pattern semi-automatic rifles to the point that they are now back-ordered for 2 years for some brands and at least a year for others. Americans may have been dumbed down, but most are not yet retarded and at some level know they will not be voting themselves out of THIS mess.

    • Undecider

      In addition, when things get thick, none of these will support and defend the Constitution of the United States. In these neighborhoods, you can’t depend on your neighbor or form a militia. That’s part of the plan too.

  • hussflier

    It makes me sick when my family preaches to nieces and nephews that they must go to college! I go behind their back and tell them I never spent a day in college and make more that your mom and dad put together with no debt! So make your choice wisely.

    • THEanon

      I don’t want to go because its four more years of school. Ugh, boring, boring school!


      • mollysdad

        On the contrary, it isn’t like school at all. Attending a good university can be one of the most intellectually stimulating and rewarding experiences of your life. I know, because I’ve done it.
        Having said that, I wish I hadn’t gone to uni. My degree is absolutely useless for getting a job, and it isn’t worth getting into debt for. My advice is, stay away from it.

        • THEanon

          Meh, I’ll probably go because my parents will kick me out of house and home if I don’t.

          • Community College student

            Go to Community College it will cost less and at least you won’t borrow as much.

          • Community College student

            Your parents might actually prefer Community college because they won’t spend as much to send you there. Room&Board will be the same as it was when you were in high school because you’ll commute from home!

          • Rich

            I went to a CC and a university. The CC was the best value and I learned more. Now I’m back at a CC, on my own dime.

    • Smart Teacher

      I totally agree, I’m a high school English teacher and I tell the students the TRUTH as well. It isn’t very popular, but I’m at least pointing them down the right road. Some students will find success in the military, some should go back to their home countries, some should go into the work force & pay taxes……life has many hard lessons and my school district doesn’t pay me enough to lie to my students.

    • vince

      Go to a Votech school. Skilled trades are the way to go. I have a GED and make 100K+ College is a scam!

      • The only way you are making 100,000 dollars is if you have NO MEXICANS where you live (which is highly unlikely) and you live in a well off town/city. Otherwise you are making the typical 10 to 12 dollar hourly rate as a trades person…as even the trades have been undermined

        • Andrew

          Actually, it is not as far fetched as you may think. I also make a pretty good living with just having a GED under my belt. I work at a steel mill in Kentucky. I started out working at the plant in 2007 making $11.00 at 48hrs a week as a department Clerk. Why? Because I can type 72 wpm. That’s grossing $572 a week, including time and a half. Not big bucks, but not bad for someone who didn’t graduate high school. Mind you, I didn’t earn my GED until last year. I was promoted last year but under one condition, I had to earn my GED. I am now a company employee salaried at $65,000 a year. There are guys at this plant that are in their 40’s still paying college debt for degrees they earned as a Metallurgist and I’m salaried at $15,000 more a year. It really all depends on what is in demand in your community. I lucked out. I’m the youngest employee in this plant at 28 years old. The problem they had was no one was up to date with technology or could type using more than one finger.

  • Robert (qslv)

    Michael, I think your book would make an excellent graduation present for the crop of June grads this year. Especially high school grads. They might think twice before running up a huge college debt if they can get a glimpse of what the future may hold for them. They may even find there way to your blogs and get a real education?

  • THEanon

    Don’t we have federal student aid, and WUE schools and scholarships to lower the cost?

  • THEanon


  • vvv

    And you wonder why people are killin’ themselves these days…

    • shadowguy14

      You know, they did that during the “Great Depression” to, how sad.

  • I was told by everyone that i NEEDED to go to college when i was a senior in high school. I went to college and stacked up the student loans of which i still owe 30,000 on and that’s not including the credit cards i used to buy food while i was in school. Now that i graduated i cant find a good job and am stuck working the desk at a hotel where i barely make enough money to drive to. This is not what i thought would happen and i often wish i went to a tech school and learned a skill instead.

    • piccadillybabe

      Getting a good skill is definitely what kids should be doing today. Most of those tech schools will place kids right into a job before they even graduate.

    • Rodster

      I graduated from a Vocational Technical HS back in the 70’s with a background in electronics. Today none of that is free. Fortunately I am self employed these days.

  • Paul

    This article should be required reading for all juniors and seniors who are getting ready to graduate from high school. I’ve been saying that college is a waste of time and money for years now, even before the economic conditions that we now have had reared their ugly head. College does nothing but make the wealthy wealthier and they do it at the expense of people who are at a very vulnerable point in their lives: those getting ready to graduate from high school. At 17 or 18 years old, these graduates don’t really know what they are getting themselves into. The crushing debt that hangs over your head and the guilt that you will feel bringing that into a relationship later on in your life. Also, the burden of having to pay it back. Don’t think you’re going to have to pay it back? They will now wait and take it out of your Social Security checks when you are able to collect (which they now want to push back to age 70 for you younger generations). That is, of course, assuming SS will still be around when you are old enough to collect it (which I am not assuming).
    Long story short. Don’t go. Learn a trade, take an internship, go on an around the world hike for a year or 2 and explore. Do anything, and I mean ANYTHING, to avoid debt. Debt = Slavery.
    College may have been the ticket for your parents, but it’s not anymore. Trust me. I’ve went. Twice. I’ve got the $30 K worth of student loan debt to prove it.

    • Geez Louise

      You’ve been in college twice and still write, “I’ve went?” This proves that running up $30K worth of student loans does not mean you got an education.

      • rationalone

        In the article it was stated that x amount of college students learn less after they been to college. So don’t be too hard on him.
        Other then that I agree with what he’s saying. I graduated in 1980 so I wasn’t burden with too much debt ($10k) but in recent years the debt burden is a lot to carry when you’re just starting out.

  • PenguinParlor

    Wait for it…



    Be an Engineer.

    • Squeenix

      Wait for you Beer…

  • El Pollo de Oro

    “Hey kiddies, keep spending that money in college. Get that degree as an MBA. You can have a job at Wal-Mart. You can become a cashier or a clerk.”—Gerald Celente

    “If you get a university degree, maybe you can have a job as a manager at Wal-mart. Or, one of those great hospitality sectors—you know, waiting tables or cleaning rooms in hotels. Those are the kind of jobs that are being created. You cannot live a comfortable middle class life in this country with the kind of jobs that are being created.” —Gerald Celente

    “How many MBAs graduating out of mid-tier schools or even the Ivy League schools can truly earn their way out of a wet paper bag? Not many of them.”—Reggie Middleton, BoomBustBlog.com

    “The student loan debt is massive and is approaching the sub-prime bubble at its peak.” —Reggie Middleton,

    “The gap between the rich and the poor in the United States is the widest of any of the industrialized nations. And it means more than just income disparity. It means education disparity as well. So what do you have when you have a society where very few are educated and you have masses of uneducated and undereducated? You have social unrest. You have rises in crime.” —Gerald Celente

  • Manchester

    I was in my 1st year when I got l-a-i-d- by my college professor. She was 15 years my senior but I had to since I needed her to boost my scores. My dad keeps on telling me school in my generation is blasphemous and he isn’t surprised that schools in America have horny teachers teaching liberal views, anti-religion and homosexuality.

  • Johnny1990

    I have a masters degree myself and looking back I wouldn’t go there even if someone else paid for it, It was a 6 year prison with absolutely no benefit whatsoever. Not only that, It was actually a hindrance, because I had to waste my time “studying” useless garbage instead of using this time on advancing myself with real skills.

    • piccadillybabe

      I hear you. Luckily I did not go that route myself. Finished by BS and even got a scholarship to get my MS but at the last minute ducked out of the graduate program. Something told me it would not serve me well. So wanted a new career and worked so hard but it never panned out. I console myself that life is a journey and not a destination. I am stuck in my old career but at least I have a job.

    • american

      I once had a nice paying government job in science, for 2.5 months. The boss had a PhD. He was typical of someone who ‘grew up’ in the snotty, conniving, turf-battle-ridden graduate student and academia world, under the thumb of a probably liberal professor, rather than in ‘the field’, being trained up under the tutelage of older and humble, mostly conservative men. At work it was an officer and enlisted man work relationship rather than work as colleagues or friends. I resigned primarily because several years of working with him was not going to be any fun and I didn’t want to become like him. And I went back into my previous business for myself with $1500 worth of work waiting the first weekend.

  • trigge

    times are changing certain things now are not as ecessary as they used to be.

  • seth datta

    university was invented as a scam to hide the fact that the real jobs were being offshored. This kept the unemployment rate down for previous administrations, hence hiding the fact that we were bleeding jobs to other countries.

  • My younger brother went to college. He got a degree in Biology. He went to work as a lab tech at the local college in Florida. He has the equivalent of a chemistry degree as well. He is smarter than I am with the books.

    I went into an apprenticeship in a field that has changed drastically over the years. I was unionized. I made twice what he did over the years. My union negotiated a life time job in trust. So I worked when others were laid off.
    In today’s world, I would learn Heating and Air Conditioning and get a plumber’s license.
    Or I would become an electrician.
    There is and has been a glass ceiling for anyone without a college degree concerning management. But I think it is not worth it. The average person needs a trade to get ahead and make a decent living.

    To become an officer in our armed forces you must have a college degree. After WWII, the armed forces forced this on people. So a combat veteran I know of went to the local university and got a degree in pot making. Ceramic pots were his specialty. They kept him on as an officer.
    In 1962, his degree in ceramics got him promoted as they were developing transitors. He retired a 2 star general.
    We had an article when I was young about successful millionaires out of high school.
    The key was to do something with your life that you really enjoyed doing even if you had to take a break in salary to do it. And the winners were the most unlikely group I can think of. People like stockboys, beauticians, people working out of their garages. All had only one thing in common. They loved what they were doing and did it very well. Most worked long hours doing this. They did not even realize they were working harder than most people because they loved doing what they did for a living.
    I am guilty. I loved doing what I did for a living. I never made a lot of money, but I sure enjoyed my life doing what I did.

  • Al

    I am not surprised, this is just a dream for them and they are forced to follow each other at any price and any direction… Their goal is just a degree… who cares about knowledge…

  • wastral

    Look at the degrees most of these people are getting! Completely useless, especially for the price they are paying for that education. If you’re spending 30k or more and going in debt then you are seeing yourself. Or spending boatloads on a law degree to work for a non-profit. These are people not thinking ahead and borrowing money for girls that can’t possibly pay back the money. That is their own fault. Take some responsibility!

    • wastral

      Seeing = screwing, girls = degrees.
      Phone isn’t the best to soapbox from

    • Sure, get an engineering degree then watch as, yet again, Congress ups the number of H1-B and other visas allowing employers to import foreign workers who can only work for that one firm and accept the pay offered or leave… leave the USA.

      Akin to indentured servitude while qualified USA citizens are begging for those jobs.

      Reality is far different than the life-long indoctrination that as things are in the USA is how things are supposed to be.

      And the masses of brainwashed citizen-sheep bleat their satisfaction with their ruling masters.

      “There has been class warfare going on,” Buffett, 81, said in a Sept. 30 interview with Charlie Rose on PBS. It’s just that my class is winning. And my class isn’t just winning, I mean we’re killing them.”

      “While the poor and middle class fight for us in Afghanistan, and while most Americans struggle to make ends meet, we mega-rich continue to get our extraordinary tax breaks,” Buffett wrote in a Sunday New York Times Op-ed.”One reason companies are so profitable is that they’re paying employees less than they ever have as a share of GDP. And that, in turn, is one reason the economy is so weak: Those “wages” are other companies’ revenue.

      In short, our current system and philosophy is creating a country of a few million overlords and 300+ million serfs.” Blodget

  • piccadillybabe

    BO is great for saying we need more science and math majors in this country so they can fill all these engineering positions that go begging due to very few Americans having the qualifications. That is really so untrue. There are a lot of Americans with the education but these corporations are not interested in hiring Americans. They would rather reach out beyond our borders to India, China, South Korea and Taiwan for their candidates. These people will work for $50K a year or less without benefits. So there you have it! Americans are too-high maintenance for these corporations because they expect to make enough money to live and also to pay off their student loans. They also expect benefits.

  • Piglet

    I don’t have any kids but a younger brother has two sons, one in high school and the other in junior high. Even though he is in a top-level federal GS job, he will be hard-pressed to come up with the money to pay for them to go to a state university, the same one he attended several decades ago. I anticipate he’ll go deeply into debt. I told him to consider sending his sons to a local community college for a couple of years to see if they’re even willing to perform at college level before he shells out the big bucks to send them to a bigger school, but I know he won’t listen. I know he wouldn’t be able to face his friends or other brothers, who also went to big-name colleges, and say his sons are at the local community college. So he’ll go into debt, believing that the only path to success is by going to a university, especially one that is very expensive. He has apparently forgotten that after he had graduated with a degree in economics and then went on (at another big-name university) to get an MBA, for a long time he was not able to get a good job and worked as a bank teller while living with our parents, leaving him very embittered. By luck and by chance, years later he was able to land his GS job, not so much from having his degrees but because he is a good worker and has natural smarts, at least when it comes to doing his job.

    I had shown him an earlier column (also here in the EOTAD) about college being a rip-off and he said, “That’s just crazy.” So, armed with the facts about what’s actually going on these days, what will people do? The same thing they’ve always done: go deeply into debt, get a degree that does you no good and work in a job completely unrelated to your education, and still try to tell themselves they did the only thing possible.

  • El Pollo de Oro

    Whenever a college graduate is poor, seriously underemployed and buried in crushing debt, there will inevitably be some corporatists who go into “blame the victim” mode. The conversation usually goes like this:

    Corporatist: “I bet you studied liberal arts or lesbian history. It’s your own fault!”

    College graduate: “No, actually, I went to business school and got an MBA….one of those so-called ‘sensible’ degrees.”

    When I was growing up in the ’60s and ’70s and graduated from college in the ’80s, it wasn’t like that. The thought of any college graduate working some crap minimum wage service job was unheard of. And for that matter, people who went to trade school and went the blue-collar path here in Philly (electricians, plumbers, construction workers, bricklayers) earned a good living. Ah, but this country has changed, and not for the better.

    So what’s going to happen when all these college graduates can’t pay back their student loan debts? That student loan bubble is going to pop and pop good and hard (note: dollar store jobs are not conducive to paying back student loans). When Reggie Middleton of the BoomBustBlog says that most MBAs can’t earn their way out of a wet paper bag, it’s no joke.

    The student loan debacle is one of the many reasons why The Banana Republic of America (formerly Les Etas Unis) will slide deeper and deeper into the toilet.

    • Hammerstrike

      youtube.c om /watch?v=IP3pbXvOMF8

      Nice try.

      Yep, the system is to blame, blame the Corporation, man!

  • Al Alias

    My college years were by far the best time of my life (so far). However, I wholeheartedly believe that I would be very much better off now if after graduating from high school I had picked a blue collar trade and invested half the effort (and none of the tuition) that I put into getting a degree in BS…er….uh….I mean getting a BS degree in communication. It’s quite possible that a big part of why I feel my time in college was so great is because those few years were the only time during my adult life that I wasn’t deeply in debt.

  • Paul

    Hi, I’m 24 years-old, and I’m not American, but I’m Canadian from the Greater Toronto Area. I have worked part time for the past 6 years since graduating High School. I think the problem here is that a lot of people my age don’t understand the gravity of using student loans, because they look at it as free money, but in reality it’s a money making scam, especially concerning the interest following graduation when payments have to be made. I have been fortunate to be able to work and attend school, as well as having some common sense with the way I handle my money.
    I have been able to pay for a Business Management college diploma program without any assistance ($11,000 for 2 years, which includes tuition, books, transportation and food costs). Currently, I just completed my second year of a Bachelor of Commerce – International Business degree program I’m enrolled in at the end of April this year (I was able to pay $9,500 per year without any assistance, which includes tuition, books, parking, transportation costs, and food costs). I think what I’m getting at is that it’s not how much something is, it’s how well your able to handle your money that is the key to success, and of course your choices when choosing a program to enroll in when attending a community college or university.
    However, I agree with a lot of the comments written, because those that make the most money are doing something that they love, and even though I am taking these business centred programs, I love to write and I’m currently writing a fictional trilogy, as well as an epic historical fictional novel, so go figure lol
    Also, in the future once I graduate from the Bachelor of Commerce degree program in 2015, I want to attend a part time MBA program at McMaster University, which I can complete over a period of 8 years while working fulltime and at a reasonable cost of $1900 per course for a 20 course program. Once again, like so many have written in the comments, it really is important to get the right mindset now and to not let your needs overcome your common sense, especially dealing with the way you spend your money. Since July 2012, I have been investing money with my bank into a mutual fund account, so not all people my age are out of touch with the real world.
    Furthermore, I have to just state that I do notice that a lot of young people my age are very entitled and caught up with the celebrity world, they honestly think they are one step away from stardom. I hope there is a switch soon, and people soon realize the importance of being influential rather than just wanting to become famous. Anyways, that’s just my two cents on this matter lol

  • Paul P.

    Hi, I’m 24 years-old, and I’m not American, but I’m Canadian from the Greater Toronto Area. I have worked part time for the past 6 years since graduating High School. I think the problem here is that a lot of people my age don’t understand the gravity of using student loans, because they look at it as free money, but in reality it’s a money making scam, especially concerning the interest following graduation when payments have to be made. I have been fortunate to be able to work and attend school, as well as having some common sense with the way I handle my money.

    I have been able to pay for a Business Management college diploma program without any assistance ($11,000 for 2 years, which includes tuition, books, transportation and food costs). Currently, I just completed my second year of a Bachelor of Commerce – International Business degree program I’m enrolled in at the end of April this year (I was able to pay $9,500 per year without any assistance, which includes tuition, books, parking, transportation costs, and food costs). I think what I’m getting at is that it’s not how much something is, it’s how well your able to handle your money that is the key to success, and of course your choices when choosing a program to enroll in when attending a community college or university.

    However, I agree with a lot of the comments written, because those that make the most money are doing something that they love, and even though I am taking these business centred programs, I love to write and I’m currently writing a fictional trilogy, as well as an epic historical fictional novel, so go figure lol

    Also, in the future once I graduate from the Bachelor of Commerce degree program in 2015, I want to attend a part time MBA program at McMaster University, which I can complete over a period of 8 years while working fulltime and at a reasonable cost of $1900 per course for a 20 course program. Once again, like so many have written in the comments, it really is important to get the right mindset now and to not let your needs overcome your common sense, especially dealing with the way you spend your money. Since July 2012, I have been investing money with my bank into a mutual fund account, so not all people my age are out of touch with the real world.

    Furthermore, I have to just state that I do notice that a lot of young people my age are very entitled and caught up with the celebrity world, they honestly think they are one step away from stardom. I hope there is a switch soon, and people soon realize the importance of being influential rather than just wanting to become famous. Anyways, that’s just my two cents on this matter lol

  • Education and school, two entirely different things. Never stop learning, it will make you successful in whatever you pursue. If you are still under the impression that school is the only place you can get an education, I invite you to read the comment of hussflier in what he advised his neices and nephews: “I never spent a day in college and make more [than] your mom and dad put together with no debt!” (hussflier 130510) I went to college, I’ve taken continuing education courses and I’ve always learned more by reading about what I was interested in and sought to practice.


  • Joey

    I have long held that college is a waste of time for many people who choose to attend. Unless you have a plan in place, i.e. you want to be an attorney or an engineer, you are far better off skipping a 4 year college. If you’re the “ehh… I’ll pick business as a major because that applies to almost everything” kind of person, then starting out in a four year school is not for you. I am currently going to school under the GI Bill (while I work and raise a family), but I’m also 32 and have found a clear direction in life. I know what I am, so I can focus my degree on that. I can’t say that my college has been a complete wash. I’ve learned alot, but honestly most of what I’ve learned has been doing my own research for papers. I know for a fact that I will get roughly the same grade whether I spend 20 hours or 5 hours doing the research to write a paper… the only reason I devote as much time as I do is because I’m a perfectionist. Most of the “I think I want to do (insert job here) when I’m older” types don’t need to go to college until they decide what they want to do. They need to go do some manual labor at minimum wage. That, my friend, is an education all in itself.

  • Benjamin Collier

    Yep…49 & still paying off my & my wife’s loans; even though we only left school 10 years ago.

    She doesn’t work, but I make 250k/year overseas in an area in which my degree has no relevance. I can’t really complain. Those loans got us through some tough times, but I’ll be way happier once they’re paid off. Already own my home -no mortgage- so that’s one less thing to worry about.

    My daughter’s degree in psychology? Practically worthless. But she’s independently wealthy anyway…

    I have a sliver of sympathy for those that DON’T have it so good. Should have put down the beer pong & trips to Cancun and thought it through…

  • Simon

    I never went to collage and had NO debt. I took risks and learned about the “REAL WORLD”. My young life was tough, but it made me smarter than any of todays wetback looser college grads. I’m now a CEO of a successful company, I have no debt and have enough money to retire at age 40. Collage today is for lazy kids who expect the world handed to them on a plate. Get a real job lo level job out of high school and work your way up. That’s how it was done by 95% of adults before the government got involved with subsidizing education. I have no college degree and I provide tax paying jobs to society.

  • Tom Henry

    I am an engineer, in charge of engineering for a large manufacturing company. I have these simple comments and recommendations:

    1.) Learn real skills, computer science, math, physics, medical, engineering, architecture, economics, business, finance. These are the skills that get you a real job.

    Do not major in liberal arts, it is nonsense and a waste of money. In fact you may “un-learn” reality, so in a way they hurt you.

    2.) Do not over pay. Go to an accredited state university. Avoid high priced private colleges. In the end employers like to see a good degree form a good school, like a BS in Computer Engineering from California State University. That degree will get you a job.

    3.) Stay home, if at all possible, and go to a local accredited college. Work, and ask family to help pay, do not get any loans. Payback will be their pride in you when you graduate.

    4.) There are jobs for people with real skills, like welding, machining, electronics, engineering, accounting, etc., but learning these skills is hard work and takes commitment, and maturity.

    Good Luck

  • shadowguy14

    Maybe I missed something, but if you get into debt, at least you’re (probably) employed, what else are you supposed to do??

  • Ragfish

    The three things that have been subsidized by government have inflated at a higher rate than the rate of inflation. These would include healthcare, housing and education! In each case, there has also been a degradation in the quality and, in the case of healthcare, access, regardless of ability to pay! Try finding a physician willing to take a new patient with Medicare, even if the paient has measn! Equality has a price of mediocrity and denial of service.

    Regarding college, reduce cost by removing government perverse incentives for study in fields that are not related to providing something that is socially desirable and needed. First priority should be to preserve and improve science and engineering. Of course, liberal arts such as history, english, philosophy are important; however, these departments should be revamped toward inspiring critical thinking as well as instilling Biblical values.

    The value of public education in America began in 1647 with the Olde Deluder Satan Act. The purpose of education was to insure literacy of the Bible, in order that every citizen be able to read it for themselves. One of the first acts of the United States mandating public education was the Northwest Orinance of 1787. It proscribed education in religion, morals and knowledge in that order. This was done with the understanding that the Christian religion was the basis of morals. Moral restraint, in turn, was necessary for a minimalist central government that would sustain and protect liberty.
    Look at our godless fornicatoriums that pass for colleges today. Gone are the days of religious instruction and moral learning. It is no wonder that the quality and application of knowledge has diminished.

    • Anonymous

      “however, these departments should be revamped toward inspiring critical thinking as well as instilling Biblical values.”

      You can’t inspire critical thinking by forcing students to adopt a narrow view of the world through the values of one religion. In fact, you’d be accomplishing the exact opposite by doing that.

  • wendy

    Because of mine and my husbands college debt we still can’t get approved to buy a house or even a car. And neither one of us found jobs in the courses we took. Hard to provide for a 3 year old when all ur money goes to people that pretty much scammed us…sad to say but im not gonna force my daughter to go thru this when she is 18. What’s the point? Just waste time and money…

  • ponerology

    If you can get out of debt now–DO IT. When the bail-ins begin in this country (meaning legalized theft of your money directly out of your bank accounts and 401k accounts just as was done in Cyprus) you will STILL owe the school loans. There will be no debt forgiveness. If your parents co-signed your loans they are in jeopardy of losing whatever they own (including homes) to the banks when you are unable to pay and/or when they are unable to pay on your behalf. If there is money in the bank to pay these loans off; do it. Once the “haircuts” happen, there may be up to 50% less in those accounts with which to retire, anyway. Plus the interest rates on the school loans is higher than any interest on CDs, etc.

  • mpp2013
  • VideoZu Crue

    All these facts are great to know but, its time to do something that can be added to those facts!

    Like, INTENSELY pressuring these “corporate servants” oh, I mean Public servants (Congress) to CANCEL ALL STUDENT DEBT. Until that happens, this will only get worst!

    They cancelled 100s of trillions of Wall Street’s Debts…you paid for that.
    They did 100s of trillions in quantitative easing for Wall Street…you paid for that.

    They raised their salaries….you paid for that.
    They create and fund war after war in the Middle East…you paid for that.
    They give illegals Billions in free services….you paid for that.

    So, cancelling student debt would actually push us and the kids out of the REAL DEPRESSION we are in but…..”OH no, the Public can’t pay for that!”

    See you political idiots, we “ARE paying for THAT” because the kids are being financially supported by the parents WHO ARE the Public!

    Recall this bought-off Congress or expect this problem to ONLY get really bad for ALL of us! The kids need a future. This fake debt, will keep them from having a future.

    Did I say fake? Oh, that’s right, it’s fake because the money is worthless. It’s fiat currency. They just print more and…we pay for that , too!

  • stonehillady

    When the Government gets involved with anything, whether it is student loans, Medicare and Medicaid, Housing loans those on the receiving end jack the prices up. This will NEVER change, as long as Colleges know this, they are in reality cheating those students and they are spending those students loan monies on big bloated salaries, perks and expensive campus building projects even as their alumni investment monies are in the billions of dollars.

    One thing that is especially troubling, that a Liberal Progressive education leaves out is that they don’t teach the students how to “think.” independently. Which is one of the reasons why American’s are not creating any substantial new products, just newer versions of the old technology.

  • Steve

    I live in Canada and attended university in the mid 1980s, and ended up with a degree in Political Science. Thanks to a few grants and a little help from my parents, I left university with a total debt of just $5700.00, or about $8300 in today’s dollars. It took me a while to pay that back because I didn’t find a good job after finishing school. However, that debt is well behind me now.

    If I were in my late teens or early twenties now, would I go to university? Not unless I was looking at getting into a professional degree programme like medicine or law. The liberal arts and social sciences programmes simply don’t offer good value for money. I work in a government job now, and what I do bears little or no relation to all those politics courses I took.

    In fact, such degrees in Canada are so common now they are considered ‘the new Grade 12’ – that is, the equivalent of a high school diploma. As a result, too many people who graduate from university find themselves forced to go to a community college afterwards to pick up the hard and technical skills they didn’t get in university, because employers don’t want them otherwise. As a result, they incur still more debt and further delay their entry into the workforce.

    In other words, universities might instill more intellectual rigour, but they provide people with little in the way of practical skills. This is one reason why many community colleges have ramped up the intellectual rigour in their courses and have also started offering actual degrees as
    opposed to diplomas.

    The sad part is that many universities use undergraduate programmes as a way to subsidize their operations. This is because entry standards in the professional programmes are so high, few are able to qualify, hence no university could survive offering graduate and professional programmes alone.

    The best advice I could offer anyone wanting higher education is to go for a professional degree, or failing that, get a three-year community college diploma in IT, civll or chemical engineering technology, biotechnology, or environmental engineering.

  • Dan

    Good luck getting a job nowadays without a college education -_- not hard to get into a school. For me I need to in order to be a doctor so I’d like to see you do it without college. Lets push people into trades now, and we won’t have doctors, or lawyers. It’s not about college, its about the connections to get a job

    • HerrinSchadenfreude

      I’m doing it. I’ve been doing it since 1995. Computers that is, on the infrastructure level, and completely self taught. No certs, no college no nothing. I was told I could not get far without a degree. I was also told it would be harder for me in my profession even with a degree because I’m a woman. Both tips were wrong.

      It’s not about the school or the connections. It’s about the experience. Nobody cares what you “should” be able to do should you ever get the opportunity to be paid for doing it and should everything go exactly like it did in the lab or on “the test”. It’s about what you can do because you’ve put your hands on it and done it.

      The “only” real exceptions I can see to this are really high level specialties in which the experience cannot be gained in any way without a high level license. Doctor. Nurse. Pilot. Nuclear scientist. Astronaut.
      That’s about it…

  • Gomer

    I just graduated with a college degree in Klingon Studies and owe $50,000 in student loans.

  • FuturePM

    I acquired my Associates in Business Management online and accumulated around 17k in debt over that period up to 2007. I’ll be 37 shortly and did not get a job in my field until this year. Industrial construction outfits, like my employer, travel all around the nation and occasionally the globe. What I know now is that the trade laborers, (welders, pipefitters, boilermakers, millwrights, etc.) that are younger than I, are making two to three times as much per hour as I am. That’s not including pre diem and rig welding rental. Some of these tradesmen make 2k-3k a week! I have the opportunity to make around 100K a year through advancement to Project Management. However, it will likely require more school and certifications, as opposed to vocational education for the afore mentioned jobs. The cost to wage comparison is a no brainer for those who can perform this type of work.

    • FuturePM

      *per diem

  • Hope

    When I went to uni, my parents couldn’t fund my way, so I had to work. Thankfully, I had a good paying job and rent was low (the year after I finished, property prices and rent doubled).
    I did end up in uni for 6 years, and my last 2 I took out a loan. It ended up being over $15000 (plus at least 2 grand for interest I presume).
    I got a teaching degree, and went abroad to teach. That was the best thing for me I believe, because at least there was NO shortage of work in England. I was able to pay back most of my student loan in the 3 years, paying almost 3 times the minimum payment.
    Going to uni was the best thing for me, because I am a single person and have not yet met a mate. If I did not have a degree, I would be working at probably max $15 an hour, and would not be able to afford to live (and save).
    If I had to do it over again, I would not get a loan and I would work, work, work. I probably would not study as much as I did (I was an A student), because I can’t even remember most of what I learned. I would probably settle for a B.
    I also would NEVER recommend anyone to go to uni for Arts. Do something that is practical, and also something where you can work in a variety of related fields. Don’t take stupid classes like Philosophy or African Drumming 101. It is an extremely costly error!

  • NOMS

    i have student loans, that have garnished my tax return and my wages, even though i have been paying them, its just not the amount they want, so they’ve gone to collections. they do not work with you on repayment. i am a single mom of three and i work 2 jobs and i barely make it. ive been force to file bankruptcy so i can be put on a payment i can afford. i wish i never went back to school. i am a cashier and i went back to school to do something else, now im still a cashier, and in debt.

  • Becky J Barrow

    I dropped out of High School at 14 (yes, it can be done), got my GED a year before my class graduated, got my AS in Accounting in 3 years taking classes part time and working 1 full time and 2 part time jobs. Had a $1500 student loan that was paid off in 6 months; the rest of my tuition was paid either by my primary employer or by me. I am 1.5 years away from finishing off my BSAS (I graduated with my AS in 1990) and just gave up because I realized that the ROI was nil. At my age, I will never recoup the cost of the degree and at this stage of my career, it isn’t going to help me one iota. A college education is a must for certain career goals: doctor, lawyer, veterinarian, etc. but for the average person it would be a waste of time. The saddest thing is, I work with people who have Master’s Degrees…they make less than I do and quite honestly aren’t half as educated as I am. It’s remarkably unimpressive when someone has an MA yet can’t write an intelligible e-mail; even better when they use ‘big words’ and have no clue what the heck they are saying.

  • Charlie

    the dumbing down of America ain’t it?

  • Rob83

    Unless you are going into medicine, engineering, or other hard sciences, I would stay away from college or go only as a last resort.

  • Lisa Futvoye-Shepherd

    One must be exceedingly careful about choosing their major. Anything in the natural sciences, engineering or mathematics….these degrees almost guarantee you a decent paying job. However….

    Far too many recent graduates are unwilling to relocate for their chosen career. This is death for their futures. Take the plunge, move away from home and mommy and start your life…

    Do WHATEVER you need to do to get that job you’ve gone so deeply in debt to achieve. Otherwise, quit your bitchin’!

  • J.L.

    I went to Penn State, took out over $29,000 of student loans iN 3 AND A HALF years. What if I hadn’t graduated early? And also.. the “financial advisor” tried to selll me a loan in order to pay off my $500 balance and tell me “you’d get a refund back if you take this loan and you can spend it however you want”. I took a different route and said I NEED TO GET OUT QUICK. At the end of the day.. people dont go to get a piece of paper …they go in hopes for a better paying job. But the real success is spreading your own wings and creating jobs for other people. Start your own business and invest your money. In the end, youll accumulate a higher net worth and have more to leave over for your family if u do pass prematurely. We are in AMERICA.. the land of opportunity. YOU CAN DO ANYTHING YOU PUT YOUR MIND TO

  • Doug Johnson

    As a Consumer Advocate and Talk Radio Show Host for the past 15 years, I
    have located 4 solutions or strategies for private student loan debt that are without a fee to students. Doug Johnson

  • All_Is_Vanity

    Colleges and universities have nothing to do with educating students and every to do with employing academics.

  • anonymous

    I, like many other college students, was forced into college by my parents, who claimed it was my only option for success in life. Now $50,000 later I still don’t have a bachelor’s degree due to my college canceling my program when I only had a few classes left to complete. I wish I never stepped foot inside a college. I grew up in poverty and naively thought college was the answer to escape. Now I see that’s it’s just another trap to keep poor people poor.

  • Jimmy Wallace!


    Complement of the day, My name is Jimmy Wallace, I am from Texas USA, I have been searching for a genuine loan for the past 5 months now and all I got was bunch of scams who made me to trust them and at the end of the day, they took my money without giving anything in return, all my hope was lost, I got confused and frustrated,then i find it very difficult to feed my family, I never wanted to have anything to do with online loans again, so I went to borrow some money from a friend, I told him all that happened and he said he can help me, that he knows a honest lender that can help me, that he just got a loan from Mrs Julian Smith, he directed me on how to apply, I did as he told me, I applied, I never believed but I tried and to my greatest surprise I got the loan of $87,000 on the 23rd of April 2015 within 48 hours, I could not believe, I am happy and rich again and I’m thanking God, because i don’t believe honest lenders like this still exist upon the high rate scams all over the globe, I would recommend this honest lender to everyone! here is the email that i used in contacting her: juliansmith14@hotmail.com