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Guest Post: The Best Way To Stay Out Of Student Loan Debt And Boost Your Resume

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Tue, 08/30/2011 - 12:46 | 1615413 slaughterer
slaughterer's picture

Permanent semester abroad, bitchez. 

Tue, 08/30/2011 - 13:53 | 1615718 russki standart
russki standart's picture

My advice to any young men contemplating university abroad would be to study in Colombia, Bogota or Medellin.   Beautiful women, good food, low costs, beautiful women, cheap booze, crazy night life, beautiful women, very pleasant climate, learn to speak pure spanish, beautiful women.....

Tue, 08/30/2011 - 14:11 | 1615807 patb
patb's picture

And if they kidnap you, you get a free stay for 3-5 years.

Tue, 08/30/2011 - 14:43 | 1615993 russki standart
russki standart's picture

Actually, patb Colombia is much safer than it was 15 years ago. Most of the violence associated with the drug trade has moved to Mexico.  But, you do need to be careful, especially if one of those colombiana hotties gets you in her grasp :-)

Tue, 08/30/2011 - 15:21 | 1616131 topcallingtroll
topcallingtroll's picture

I totally agree with Columbia. When this lilly white blonde haired gringo was in South America I was dating model quality ladies who want it every night (or at least convincinglt pretend to) and believe their life goal is to serve their husband and raise children.

If I had known then what I know now I would have married one.

Guys there are better things waiting for you overseas. You may make half your income but your life is fantastic.

Tue, 08/30/2011 - 16:00 | 1616309 Leopold B. Scotch
Leopold B. Scotch's picture

I wonder how many of those prices are subsidized by govt so their education looks good by global standards? 

Not saying we're not seeing inflation concentrated here in higher education.  Actually, I've been saying what this post says for a decade:  Money printing does not just blow into CPI... it blows heavily into asset prices and other things people buy with leverage.

Tue, 08/30/2011 - 18:15 | 1616770 New_Meat
New_Meat's picture


"... so their education looks good by global standards? "

Well, that might be a part of it.  But in "Old Europe" it is the beginning of the Ruling Class's gravy train.  Since screening into Ecole Superior and Ecole Polytechnique and ETH involves certain "connections"

Subsidized to hook the young 'unz.

- Ned

Tue, 08/30/2011 - 19:50 | 1617071 Thomas
Thomas's picture

There is a simpler way: Rack up a few semesters at a community college and transfer them over. I teach at one of these overpriced elite institutions; lots of kids do this.

Thu, 03/29/2012 - 02:23 | 2299766 jaffa
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In insolvency proceedings, secured lenders traditionally have priority over unsecured lenders when a court divides up the borrower's assets. Thus, a higher interest rate reflects the additional risk that in the event of insolvency, the debt may be uncollectible. Thanks.
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Tue, 08/30/2011 - 16:03 | 1616335 A Nanny Moose
A Nanny Moose's picture

Does that program include conjugal visits?

Tue, 08/30/2011 - 16:05 | 1616347 Campagnolo
Campagnolo's picture

Is that is the case I will go for Chile....in the region: higest levels of educacion, safest country, estrongest economy, beautyful weather and geography, best wines...chilean women are not that hot as Colombian though...if you want a banana republic like the US so  go to Colombia, if you are looking for serious future, go to Chile or Uruguay as a second alternative.

Tue, 08/30/2011 - 16:51 | 1616545 russki standart
russki standart's picture

Campagnolo,  I agree that Chile is a wonderful place to live and prosper. I only suggest Colombia as a place for young men to have fun whilst learning to speak good spanish and obtaining an education at a decent price. Uruguay is also a good place to live, but rather boring, except for Punta Del Este during the tourist season.

Tue, 08/30/2011 - 17:03 | 1616597 halflink123
halflink123's picture

Can you f*cking stay on topic?  We aren't talking about where to find the best brothels.  We are talking about where to get the cheapest quality education to enable one to make MONEY; the best EDUCATIONAL investment not the best PUNANI investment.


God I f*cking hate Columbian women shut up about that crap already.  They look mostly like Indian women, if you like that kind of thing great but don't go on about it ad naseum.


Yes American schools - the quality is average at best and the price is extortion, especially in this economy where there are no jobs.  I recently finished law school in the U.S. - no job, huge price tag, condescending professors, low quality in terms of information learned.


Same with the B-Schools here - they just turn out banksters and sheep.  Look at how well the B-School graduates ran the banks and other financial instutions, not to mention the economy.  These schools have destroyed their reputations.

Tue, 08/30/2011 - 17:26 | 1616654 Flakmeister
Flakmeister's picture


Tue, 08/30/2011 - 17:26 | 1616655 Flakmeister
Flakmeister's picture

You do realize that you are arguing with a MBA who whores himself? I thought you knew that.

Tue, 08/30/2011 - 19:29 | 1617014 russki standart
russki standart's picture

And I love U too, Flaky. I am just waiting for the next ZH article on AGW.... 

Tue, 08/30/2011 - 19:27 | 1617011 russki standart
russki standart's picture

Sorry , halflink123, we are only trying to inject a bit of levity into the conversation.  Most of what I remember from college were the girls. The rest of it, ie education, took me many years to unlearn.  As a suggestion, if you are a recent graduate, why not go overseas and study for 1 or 2 years? It will look good on a resume, you can develop new skills and will open opportunities that you may not imagine. Good luck finding a decent job stateside. 

Mon, 04/16/2012 - 02:11 | 2347929 jaffa
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Debt will increase through time if it is not repaid faster than it grows through interest. This effect may be termed usury, while the term usury in other contexts refers only to an excessive rate of interest, in excess of a reasonable profit for the risk accepted. Thanks a lot.
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Sat, 04/21/2012 - 06:14 | 2363371 jaffa
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Higher education generally involves work towards a degree level or foundation degree qualification. In most developed countries a high proportion of the population now enter higher education at some time in their lives. Higher education is therefore very important to national economies, both as a significant industry in its own right, and as a source of trained and educated personnel for the rest of the economy. Thanks.
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Tue, 08/30/2011 - 13:57 | 1615734 Rodent Freikorps
Rodent Freikorps's picture

It ain't sexy, but a car/diesel mechanic will always put food on the table. Even during a Mad Max depression.

And he'll have time to love his wife and raise his kids.


Tue, 08/30/2011 - 14:38 | 1615973 V in PA
V in PA's picture

Might I add machinist /gun repair, electrician and chef.

Tue, 08/30/2011 - 16:07 | 1616354 A.W.E.S.O.M.-O 4000
A.W.E.S.O.M.-O 4000's picture

Fred Garvin. Male prostitue.

Tue, 08/30/2011 - 19:33 | 1617026 bankonzhongguo
bankonzhongguo's picture

Let me help you with that back brace.

Tue, 08/30/2011 - 23:17 | 1617778 animalogic
animalogic's picture

Dig it, RF!

The best advice you can give to most (not all) kids is get a trade while they are still young. Plumber, mechanic, locksmith, wielder etc - these trades always tend to have better income and employment opportunities than many of the jobs requiring university credentials (nevermind all the unskilled/semi-skilled jobs).

And having worked for a few years such a trade can then be used (if the person is dead-set on it) to get that university degree they've always wanted. They can either have saved up for university or they can study part time and pay fees as they go; thus avoiding the later debt load that blights so many young peoples' lives.

On a slightly different note -- I know it's a fantasy to suggest this, but I suspect many American young people would like a system like we have in Australia: its called HECS (Higher Education Contribution Scheme) and it basically means that the Commonwealth government pays for your university etc degree up front. You then have a choice: you can pay back the government immediately at a reasonable discount or you can pay later, after completing your degree. However, you are only required to start paying back when your income hits a certain level -- I think it's around $45,000 per year  (averaged over 52 weeks) that initiates repayment. When you do repay (you might have to pay this week, but not the next because your income has dropped) the government takes something like 2% of your weekly wage in repayment. The percentage increases a couple of stages for higher incomes (I think the highest is posibly around 4 %). Of course, the total debt owed increases each year in line with official inflation.

Don't get me wrong, it's far from a perfect system -- however, I do think it has some advantages over a system that basically demands that poorer students obtain loans at basically commercial rates of interest the repayment of which kicks in on simply completing your degree.

Tue, 08/30/2011 - 14:38 | 1615925 reload
reload's picture

Cambidge university; here in the Uk for $19k p.a? I think not. Tuition fees for Uk residents are £9k ( call it $15k) and higher for overseas students (by @50%) which is why Universities here love foreigners and let as many of them in as possible. Back to the £9k p.a tuition fees - thats without any living expenses or study materials! so you can double it AT LEAST! 

The Education minister was on the media last week defending the increase in tuition fees thus:

"as no repayments on government loans for University are due until the graduate is earning at least £21,000 pa we calculate that only 60% of men and 40% of women will ever make any repayments"

Which would be very funny if it were not so tragic.

Sat, 03/31/2012 - 02:17 | 2305861 jaffa
jaffa's picture

The same is true if you finished your studies a long time ago and never went back for continuing education credits or a new certification. Employers look for updated resumes when interviewing candidates for a position, so you may be at a disadvantage even if your old credentials are good enough. Thanks a lot.
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Tue, 08/30/2011 - 12:47 | 1615414 UGrev
UGrev's picture


Tue, 08/30/2011 - 14:00 | 1615747 buck4free
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Tue, 08/30/2011 - 14:48 | 1616013 Infinite QE
Infinite QE's picture

Like Frank Zappa said:

`If you want to get laid, go to college. If you want an education, go the library.'

Tue, 08/30/2011 - 16:03 | 1616330 Leopold B. Scotch
Leopold B. Scotch's picture

Guilty of former.

Tue, 08/30/2011 - 15:23 | 1616140 Yardstick of Ci...
Yardstick of Civilization's picture

"You spent a hundred and fifty grand on an education you could have had for a dollar-fifty in late charges at the public library."

~Matt Damon as Will Hunting~

Tue, 08/30/2011 - 15:32 | 1616188 Pool Shark
Pool Shark's picture

And you won't be indoctrinated by propaganda-spewing, leftist professors... 

Tue, 08/30/2011 - 12:48 | 1615422 Version 7
Version 7's picture

They are all so cheap aren't they?

Tue, 08/30/2011 - 12:49 | 1615428 SokPOTUS
SokPOTUS's picture

...the world needs ditch-diggers, too...

Tue, 08/30/2011 - 12:52 | 1615447 Version 7
Version 7's picture

Had this world a majority of balanced, serious, ignorant people, it would go forward.

Tue, 08/30/2011 - 12:55 | 1615464 Azannoth
Azannoth's picture

.. and for every ditch digger there has to be a ditch filler in .. :)

Tue, 08/30/2011 - 13:02 | 1615500 centerline
centerline's picture

According to Keynesian economics as interpreted by today's geniuses.  LOL.

Tue, 08/30/2011 - 13:44 | 1615669 SoCalBusted
SoCalBusted's picture

"What's your dirt doing in his ditch"




Tue, 08/30/2011 - 12:56 | 1615471 Id fight Gandhi
Id fight Gandhi's picture

Still need a degree for that now.

Much cheaper to save the debt or just go overseas.

If I was young I'd get the fuck out of here too. USA can bleat be competitive with the rest of the world when they have the highest cost higher education, least amount of jobs and highest debt.

Tue, 08/30/2011 - 12:57 | 1615474 caerus
caerus's picture

you'll get nothing and like it!

Tue, 08/30/2011 - 13:23 | 1615576 WonderDawg
WonderDawg's picture

Are you my pal, Mr. Scholarship Winner?

Tue, 08/30/2011 - 13:33 | 1615615 caerus
Tue, 08/30/2011 - 13:41 | 1615646 WonderDawg
WonderDawg's picture

But the man worthwhile, is the man who can smile, when his shorts are taking HFT heat.

Tue, 08/30/2011 - 17:06 | 1616605 hunglow
hunglow's picture

How do you expect to get any pudding if you don't eat your meat!

Tue, 08/30/2011 - 13:16 | 1615548 Long-John-Silver
Long-John-Silver's picture

I spent a couple of years in the early 80's in the US Navy going to technical schools. It cost the tax payers over $1 million for my education. It cost me 4 years of hell serving on a ship with an undermanned shop because no one would stay in after having served the minimum amount of time to get the "free" education others and I got. I joined the others in walking away from the US Navy and taking a 6 figure a year income job.

Tue, 08/30/2011 - 13:30 | 1615601 LFMayor
LFMayor's picture

I'm guessing twidgit, yes?

Tue, 08/30/2011 - 14:02 | 1615766 Rodent Freikorps
Rodent Freikorps's picture

That and the clearance together are quite marketable.

Tue, 08/30/2011 - 14:13 | 1615821 duo
duo's picture

The Navy, it's not just a job, it's an adventure.

Tue, 08/30/2011 - 15:57 | 1616302 Leopold B. Scotch
Leopold B. Scotch's picture

Technical School at $1 million?   Clearly that's not machine shop education.   What?  Nuclear Physics?  Medicine?

Then again, these are the same people who paid $500 for toilet seats.

Tue, 08/30/2011 - 16:09 | 1616363 Long-John-Silver
Long-John-Silver's picture

Gas Turbine systems Tech Mechanic, Electrical, and Electronics. I did it all. I was a Tool and Die machinist before I joined. Jimmy Carter (like Obama today) killed jobs and the economy knocking me out of work in the process. After the Navy I travelled all over the world installing and repairing Gas Turbine power plants. I retired at the age of 47 and now have a little shop behind my house with a complete machine shop and electronics test, calibrate, and repair bench.

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