ArtsAutosBooksBusinessEducationEntertainmentFamilyFashionFoodGamesGenderHealthHolidaysHomeHubPagesPersonal FinancePetsPoliticsReligionSportsTechnologyTravel

Student Loans and Jobs: Crushing Debt at the Beginning of Your Career

Updated on April 1, 2014
Travel instead of college?
Travel instead of college?

Do We Need New Entrepreneurial Strategies?

The best part about student loans in the US is that many students who receive insufficient grants and scholarships -- and have limited personal and family resources -- can still attend college or university. Low-interest borrowing for education seems like a great investment in a young person's future - how else will your earnings power for a great salary later be enhanced?

The worst part is that student loans for college are now SO common that nearly every student has them - even for majors, fields, or disciplines where the long-term career "investment" might not be worth the expense and debt. Why repay loans for decades for a degree that is less-than-marketable in the workplace? Why enter young adulthood with $25K - $35K - $50K or more of student loans to weigh down future relationships, homeownership, retirement savings, and more.

This may sound biased against degree and major areas where job prospects are limited, but that's not the case. Students in more 'niche' fields should try even harder to go to college for free or at least as inexpensively as possible. Whether it's a narrow history field, a creative writing degree, or something in the arts (music/visual arts/crafts/ceramics/jewelry) - many of these students will be much happier LATER in life pursing their passions without the monthly reminder of crushing debt. And remember, this is debt that cannot be wiped out in bankruptcy!

I propose that students, families, parents, and returning students consider some new strategies for a debt-free or lower debt education. Having worked in higher education, it is my experience that students choose a college (or it chooses them), they choose a major, and they sign whatever they need to sign to be able to attend - very little thought goes into a decision that take decades to pay for.


FAMILY RESOURCES: I think families should have honest conversations with their children about the resources available for college VERY EARLY. It's not too soon to start these talks in the 8th or 9th grades. Concepts like matching funds (encouraging the student to work hard at part-time and summer jobs), scholarships (encouraging students to study hard and maximize additional opportunities), and some candid future salary vs. debt research can be done together. I don't think this will encourage young people to only pursue lucrative careers, but rather be more informed about the choices they make!

COLLEGE PLANS: If students are undecided on their plans for a major, program, or more -- then the mature decision about not attending must happen sooner than HS graduation night. The peer pressure to continue into the "13th" grade with all their peers - especially those with headstrong plans - can make students attend an expensive private university for a year, only to flounder in their indecision. Again if students more clearly understood family resources, and their future debt, they might choose to wait. They could at least attend a cheaper community college while decisions are being made.

MILITARY or VOLUNTEERING: It's still a great idea to consider the Peace Corps, other volunteering opportunities, or the US Military (Army, Navy, Air Force, Marines, Coast Guard, as well as State National Guard and Reserves) as a way to gain amazing life experiences and travel. There are college financial aid benefits as well, but there are many other doors that open with these accomplishments.

TRAVEL: I have always believed that students need to travel outside of the country as much as they can to experience food, culture, politics, business, and more, from another perspective. Seeing the US from afar can provide many new insights and the journey itself can generate new passionate life directions. How can young people do this? There are exchange programs or short programs available overseas - or they could put together a small group of responsible friends or family to do this. For example: I know someone who dropped out of college - studying photography - and decided to travel, with a cousin, to Australia and New Zealand to take photographs for months! When he came back, not only had he seen and experienced many amazing things, but he had an amazing photo portfolio that helped him continue his studies elsewhere - ON SCHOLARSHIP! Great investment...

START A BUSINESS: There are a number of business people and entrepreneurs who believe that hungry, passionate, thoughtful young people - idea people - shouldn't be wasting four years in college at the beginning of their careers. The thought is to go start something - a business, venture, product, service- and fail, try again, make money, scratch, and fail, and finally succeed -- having learned maybe so much more than the classroom can teach. College textbooks are written for large groups, for an organized curriculum, and based on educational baselines, benchmarks, and frameworks -- real experiences might teach the student the same content AND MORE in a much, more organic manner.

MENTORING & PRIVATE STUDY: I know students with initiative who sought out mentoring relationships with "experts" in their field and learned so much from the direct supervision. Imagine instead of attending college, researching and finding the best person in your field to apprentice with, or be mentored by, even if they were overseas. Or the best four people over a period of a couple years... You could probably afford airfare, a small room rental, and "private study" with really fascinating experts in your field all over the world for less than a semester at your local GOODNAME University. If you want the skills of these experts, and not the degree - then you've started on the patch to get them. If you want the degree, perhaps apply afterwards to find that your plan makes you more competitive for grants, scholarships, assistantships and more.


I think the current cost of college and university programs for many students often outweighs the benefits. We need a new model that lets students understand the debt vs. career balance vs. skills, and helps introduce some strategies to get the same results without the current system. If nothing else, at least wait "save" your debt for graduate school, when your career becomes more clear.


    0 of 8192 characters used
    Post Comment

    • profile image


      7 years ago

      I couldn't agree more. Students are in huge amounts of debt before they start their very first day of work. It's terrible.

    • CapstoneTrends profile imageAUTHOR


      7 years ago from Outside Boston, Massachusetts, USA

      Thanks Truth! I appreciate it!

      Thanks Cred - yeah, and imagine the great experiences that could be gained with the same $$$ spent on tuition.

      thank you kschimmel - how can all this student loan debt not impact the rest of the economy... Thanks - good suggestions...

    • kschimmel profile image

      Kimberly Schimmel 

      7 years ago from North Carolina, USA

      Great article! I, too am concerned about the debt so many young people have. Our kids have done well so far by getting scholarships and jobs instead of debt. Choosing an affordable school and/or testing out of many classes helps, too!

    • Credence2 profile image


      7 years ago from Florida (Space Coast)

      I am always concerned about the viability of a college degree in so many fields as it is not the gurantor of a good job at a good salary that it once was. If it were me, I would tell those college bound to look carefully at their chosen fields of study with an eye toward it marketability into the future. Most informative article, thanks Cred2

    • TheTruthasIseeit profile image


      7 years ago from Virginia

      Very informative. Attending college is quite a purchase and should be considered carefully. Good job thinking outside the box!

    • CapstoneTrends profile imageAUTHOR


      7 years ago from Outside Boston, Massachusetts, USA

      Thanks for checking this out, Hound Cat! I guess it's a timely problem because all those college graduates saddled with debt can't qualify easily for a mortgage, and can't help to stimulate the US real estate market post-recession! All best!

    • Hound Cat profile image

      Hound Cat 

      7 years ago from Los Angeles area of Southern California USA

      With the rising cost of higher education being what it is your suggestion of delaying entry seems to be a good one. There are no secure roads to employment after you graduate and a large student loan to pay can be overwelming. I know this from personal experience. My loan had a large balance and there were many times I was negatively affected by the burden. My search for employment was long and tedious.

      One of my jobs was with a student loan servicer and I saw first hand how many former students were driven into tremendous debt. A student loan cannot be dissolved in a bankruptcy no matter what your trouble financially is.


    This website uses cookies

    As a user in the EEA, your approval is needed on a few things. To provide a better website experience, uses cookies (and other similar technologies) and may collect, process, and share personal data. Please choose which areas of our service you consent to our doing so.

    For more information on managing or withdrawing consents and how we handle data, visit our Privacy Policy at:

    Show Details
    HubPages Device IDThis is used to identify particular browsers or devices when the access the service, and is used for security reasons.
    LoginThis is necessary to sign in to the HubPages Service.
    Google RecaptchaThis is used to prevent bots and spam. (Privacy Policy)
    AkismetThis is used to detect comment spam. (Privacy Policy)
    HubPages Google AnalyticsThis is used to provide data on traffic to our website, all personally identifyable data is anonymized. (Privacy Policy)
    HubPages Traffic PixelThis is used to collect data on traffic to articles and other pages on our site. Unless you are signed in to a HubPages account, all personally identifiable information is anonymized.
    Amazon Web ServicesThis is a cloud services platform that we used to host our service. (Privacy Policy)
    CloudflareThis is a cloud CDN service that we use to efficiently deliver files required for our service to operate such as javascript, cascading style sheets, images, and videos. (Privacy Policy)
    Google Hosted LibrariesJavascript software libraries such as jQuery are loaded at endpoints on the or domains, for performance and efficiency reasons. (Privacy Policy)
    Google Custom SearchThis is feature allows you to search the site. (Privacy Policy)
    Google MapsSome articles have Google Maps embedded in them. (Privacy Policy)
    Google ChartsThis is used to display charts and graphs on articles and the author center. (Privacy Policy)
    Google AdSense Host APIThis service allows you to sign up for or associate a Google AdSense account with HubPages, so that you can earn money from ads on your articles. No data is shared unless you engage with this feature. (Privacy Policy)
    Google YouTubeSome articles have YouTube videos embedded in them. (Privacy Policy)
    VimeoSome articles have Vimeo videos embedded in them. (Privacy Policy)
    PaypalThis is used for a registered author who enrolls in the HubPages Earnings program and requests to be paid via PayPal. No data is shared with Paypal unless you engage with this feature. (Privacy Policy)
    Facebook LoginYou can use this to streamline signing up for, or signing in to your Hubpages account. No data is shared with Facebook unless you engage with this feature. (Privacy Policy)
    MavenThis supports the Maven widget and search functionality. (Privacy Policy)
    Google AdSenseThis is an ad network. (Privacy Policy)
    Google DoubleClickGoogle provides ad serving technology and runs an ad network. (Privacy Policy)
    Index ExchangeThis is an ad network. (Privacy Policy)
    SovrnThis is an ad network. (Privacy Policy)
    Facebook AdsThis is an ad network. (Privacy Policy)
    Amazon Unified Ad MarketplaceThis is an ad network. (Privacy Policy)
    AppNexusThis is an ad network. (Privacy Policy)
    OpenxThis is an ad network. (Privacy Policy)
    Rubicon ProjectThis is an ad network. (Privacy Policy)
    TripleLiftThis is an ad network. (Privacy Policy)
    Say MediaWe partner with Say Media to deliver ad campaigns on our sites. (Privacy Policy)
    Remarketing PixelsWe may use remarketing pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to advertise the HubPages Service to people that have visited our sites.
    Conversion Tracking PixelsWe may use conversion tracking pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to identify when an advertisement has successfully resulted in the desired action, such as signing up for the HubPages Service or publishing an article on the HubPages Service.
    Author Google AnalyticsThis is used to provide traffic data and reports to the authors of articles on the HubPages Service. (Privacy Policy)
    ComscoreComScore is a media measurement and analytics company providing marketing data and analytics to enterprises, media and advertising agencies, and publishers. Non-consent will result in ComScore only processing obfuscated personal data. (Privacy Policy)
    Amazon Tracking PixelSome articles display amazon products as part of the Amazon Affiliate program, this pixel provides traffic statistics for those products (Privacy Policy)