Why should kids be funneled into the trades in high school? The purpose of those high school programs was to provide an alternate path for the kids who somebody classified as not college material. There are plenty of adults who have had successful careers (writers, doctors, scientists, etc) who were told in high school that they’d never amount to much. Their teachers/GCs were wrong.
Most comments I see on this subject say the trades are great in one breath and college isn’t for everyone in the next. The speakers always seem to be the parents of college students. If the trades are so great and there’s a projected shortage for the next generation, why aren’t they signing their kids up for Welding 101? I don’t disagree that the trades can be very rewarding, but they should be reserved for adults who want to do them not shunted off on kids who aren’t given any other choice.
It’s interesting. My high school (graduated 1979), had trades. Mechanics and welding and something else I can’t remember. Lots of students took it and stereotypical of the times people. They were not cut out for college
One kid was doing carpet cleaning. Dropped out of school Junior year. While we all went to college and beyond he turned his love of carpet cleaning into Stanely Steamers. Who’s laughing now ?.
Huh? Stanley Steemers was founded in 1947.
He started a local Stanley Steamers that turned into multiple franchises. Sorry, didn’t mean to say he “was” Stanley Steamers " sorry for the confusion. ?
If my son had the opportunity to take some classes on (for instance) welding, CNC, etc he would have taken them as electives in a heartbeat. He’s in college now, but having exposure to trades could have been beneficial to him. Interestingly, at a recent team building event he had the opportunity to try his hand at different types of welding and plasma cutting - we was elated.
Didn’t read the whole thread. Wonder how many of these in default were cosigned with the parent / grandparent getting surprised when the student didn’t / wouldn’t pay back loan? Just assumed everything would work out. Lots probably didn’t even know the student was not paying until the late notices / credit dings started showing up.
We need to teach behavioral finance in high school in this country. So much would be avoided if the average person actually understood how basic investing, debt, savings, budgets worked.
Personal Finance has finally become a required course at the high school where I work. From what I understand, we’re the last ones in our county to make it required. Hopefully it’s part of a nationwide trend as I personally think Personal Finance is more useful for most students than many other courses we require.
My kids had a required finance course. Not a mention of student loans. Even in their fake ‘home budget’, no debt except a car loan and insurance. Zero discussion of checkbook balancing, interest rates, buying a house.
What was covered? Buying groceries on your ‘fake’ income, buying tires for your fake car, and getting health insurance. My kids took it the year ACA kicked in and it took hours to try to get an insurance quote. By the way, neither ever bought insurance outside their schools/jobs.
It was a huge waste of time and my least favorite teacher either ever had in all their years of school.
^ That’s a shame because it could be very useful. Need good content and a good educator. I used to do American Teach Ins at both kid’s schools (middle school). I did a very basic lesson on compound interest and they were engaged and blown away.
They need A LOT more of that.
Our course deals with loans (including credit cards), insurance, investments, budgeting and similar things. The students I’ve talked with who previously took it as an elective raved about it and were part of the reason it’s become mandatory.
If all these kids took these great finance classes, student loans would b eliminated, no doubt!
@theloniusmonk Not entirely. Most students I work with can’t afford college without basic loans from the gov’t. Those generally turn out fine for students. Leveraged debt can be a great thing (properties, etc, too). The key is learning what the real cost is to be able to figure out if the loan is a good one or not. Being 100% anti-debt is often not helpful for moving up in the world economically. It’s better than high debt (esp for toys), no doubt, but the best odds are often somewhere in the middle.
Colleges have to be run more efficiently. In Illinois 50% of instate kids go out of state mostly due to the costs of Illinois colleges. Our governor just got a windfall of money and doesn’t seem to be addressing the problem. Eastern and Western Illinois Universities have sharply dwindling enrollment. So the solution is to build $100 million dollars science centers on each campus. Don’t think students are going to flock to these campuses once a new science building is built. I don’t know maybe lowering tuition or offering more scholarships might be a good start? With University of Illinois-Champaign it also has lost seats but I am not to sure they care. They now have many OOS families willing to pay and no question they went after Asians since their goal was to raise internationals to about 20% due to full tuition. The next few years will be telling. So many families I talk to UIUC is not there first choice anymore due to cost. Iowa, Iowa State, Alabama, Miami of Ohio, Case Western, etc. All due to merit. Families that said they would never in a million years send their kids Alabama said that’s where their kids are going since they know families before them and the students “love” the experience. Guess Alabama is rolling out the red carpet with 3/4 - full tuition paid!
So UIUC could lower tuition but that’s never happening and /or increase scholarships. Families with $65,000 or lower can go there free now but middle class will look elsewhere.
@Creekland That course sounds great! Curious what state you’re in. I’ve seen Dave Ramsey’s course taught at a local school (Tampa) but only to a group of kids who were in a business club. It was an after school activity which stinks because you couldn’t attend if you played sports, did theater, etc. Still glad they did it for those who could attend. This was at a charter school. Not sure the school district would have approved it at traditional publics.
I’m in PA and work at a public high school. I believe our business teacher is the one who developed the course. I know she teaches it. It’s likely other teachers will be added now that it’s a require course due to the number of students there will be, but due to not having been at school much this past year (family health issues), I’m not positive on some of those details - just the news that it’s now a required course. I was one in favor of it being required… esp after listening to the students who took it as an elective. Not everyone gets a decent financial education at home.
@bester1. The cartoon on the second article says it all. “You took out loans. Pay them back”. Pretty much sums it up.
I read an article in the Chicago Tribune, I think ?about the worst people defaulting are those that didn’t finish college with like $10,000 or less but don’t have the means to pay them back. For people that graduate and have upwards of $50,000 or more but have a long term job.
Not much defaulting.
Lots of the lower defaulters were " for profit" schools.
So I think we somehow have to make sure people finish what they started so they can get jobs. It was an interesting article and can’t find it at the moment.
Doesn’t it all remind you so much of the real estate crisis of a decade ago? Many people could have been fine in a 3 bedroom, 2 bath home but were granted the mortgage for enough to buy the 5 bedroom, 4 bathroom home, took it and then wham…a bailout was required. Similarities are eerily similar.
For example…as a PA resident you can go to Bloomsburg University and get a teaching or nursing degree that is highly regarded for $20 grand a year and your family is more likely to afford or you can go to Penn Stat/Pitt for $36,000/year, take out fed loans and then the plus loans to get an equal degree but owe thousands and thousands of more dollars at graduation. Neither route provides much if any merit.
I am not judging…I am just questioning the logic. I have told my kids…go to Bloomsburg…purchase a Penn State Football pass or scalp tickets for a few games(only 30 minutes apart from each other) and you will come out far, far ahead. They hate when I say that!!! LOL
NJ requires Financial Literacy as a grad requirement. It started when S17 was a freshman. D21 is taking it this summer. Her mid-term today covered cost/benefit (homework example was someone working who was deciding if she should quit and go to college or continue her job and go to college part-time), W2/W4/SS etc…