16 Jan The Cost Of Education
When getting any education it is always wise to think about the prospects available for any particular degree or vocational school. I see clients who have taken out excessive student loans for degrees that not many jobs are available. This seems especially true of for profit colleges and trade schools, that charge excessive tuition, but do not provide their graduates with a good chance for employment after graduation. The same can be true of any college if the debt is excessive. You really have to think carefully about how to repay over $100,000.00 in student loan debt with interest. I have seen clients with close to $200,000.00 in student loan debt. This debt cannot be discharged in bankruptcy, and is hard to get rid of through the bankruptcy court and the standards put in place for discharging student loans.
The other issue I have seen clients get involved with are classes for trading stocks, bonds, real estate, etc. These classed come with price tags around $12,000.00 but do not offer any information that cannot be obtained by researching on the internet. If somebody really had secrets to trade on the stock market, they would not give them out in classes. The only people who make money from these classes are the people running the classes. I have advised clients to not take these classes, and save their retirement money for retirement. I have also seen several clients file for bankruptcy after attempting what these classes suggest in real estate or stock market investing. In short you have to look at the value of what you are paying for in any class or education program. In some cases it may not be worth the cost.