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College is the biggest scam ever!

I spent 4 yrs in college and have loans in excess of $60,000. I have a sub par job that barely pays my bills. I dont know what to do. If I didnt have my daughter I would let them arrest me. I really dont know what to do now. im single parent

I am in default for 3 student loans totaling about 20,000

I was summoned to court but one lender is sueing me for the whoe 10,000

I am behind in car note

daughters school behind

rent behind

barely can make ends meet. Its tough on me and so fustrated now. If I never went to college I would have the same job with less bills and harrassing phone calls. I am so fed up and dont know what to do

I am considering bankruptcy but that cost money and I dont think that I can afford it/

any help would be appreciated

Answer Question
 
Anonymous

Asked by Anonymous at 8:00 PM on Jun. 7, 2011 in Money & Work

Answers (15)
  • Well, u can't file bankruptcy on school loans. Idk what to say, either use your degree to your advantage and get a better job?
    emmyandlisa

    Answer by emmyandlisa at 8:04 PM on Jun. 7, 2011

  • I'm sorry I have no suggestions for you, but I saw this coming a long time ago and it's only getting worse. There are a lot of good jobs out there (or there was before all the job losses) that do not require a college education. Pushing all these young people to get a degree is only going to leave them in the same boat you are. Frankly, I don't mind someone waiting on my table who doesn't have a college degree, or the guy fixing my car or paving my roads, etc. With a degree, you are stuck with that particular job unless you want to be in your position. I'm not saying that college is bad as a whole, but I don't think everyone needs a degree as this country is pushing.
    attap5

    Answer by attap5 at 8:04 PM on Jun. 7, 2011

  • There is some useful info in the link below.  Get a one time free consultation with a bankruptcy lawyer.  Most will do one.  There are not too many circumstances where you can get out of the loans.  I agree that college has to be considered more carefully today.  There are many jobs that you can not get without a degree, but also many where a degree is not always needed.  Technical training can go just as far for some professions.  Kids and parents need to look into this more closely now with college fees going throught h roof.  GL


    http://www.money-zine.com/Financial-Planning/College-Loan/Student-Loan-Bankruptcy-Options/

    whitepeppers

    Answer by whitepeppers at 8:11 PM on Jun. 7, 2011

  • I agree my mom makes about the same money as a server as my g-ma does a s a teacher...it's crazy,but it's hard work too...I'm going to school in Aug. I want to be a nurse something I know they will always need...I have 3 kids so I will get my school paid for through grants. I will however have to get a loan to pay for childcare until I get assitane with that which will take at least 6 months. I don;t think college is bad or a waste of time i think it's what you get a degree in that matters.
    happymama02

    Answer by happymama02 at 8:12 PM on Jun. 7, 2011

  • It's important that people think about what they are getting their degree in before they go to college. Definitely need a degree for something that has a job market!
    missanc

    Answer by missanc at 8:15 PM on Jun. 7, 2011

  • I agree happymama. I received my degree in accounting and I am a black female in a predominately white city where men rule. Its hard I want to go back for nursing but dont want to move back home but might do so.
    Anonymous

    Comment by Anonymous (original poster) at 8:16 PM on Jun. 7, 2011

  • Sorry you are in a bind... but college isn't a scam for everyone!
    For me I am making 3.5x more/hour after college.
    Without college = retail management... with college = allied health-care professional.
    As happymama02 says... it's what you get a degree in that matters.

    Crafty26

    Answer by Crafty26 at 8:18 PM on Jun. 7, 2011

  • why did you take out so much in loans? Why didn't you choose a cheaper college? I left college without any student loans. I went to a state college and worked 39 hours a week at making $1.00 over min wage. I had to make my own car payments, car insurance, text books, etc. I had NO help from anyone but myself.

    But, I thought about all of that BEFORE I decided on my college. I originally went to a community college to get out all of my general courses out of the way, then I transfered to a state school to finish my degree.
    layh41407

    Answer by layh41407 at 8:21 PM on Jun. 7, 2011

  • I agree with what others have said that you dont always need college & you need to think through your degree beforehand. Taking well rounded classes can help too just general bussiness type things. SO didnt go to college & he is in a job field that pays him very well. He works hard & is moving up in the company. Only four years working there & he now runs his own location (they are worldwide) making awesome pay & he'll only be making more from here. You simply are not in a field with much demand.

    Hope you figure something out soon, sorry.
    Mel30248

    Answer by Mel30248 at 8:22 PM on Jun. 7, 2011

  • I wish I went to a state college. My family was always concerned about prestigue. My parents didnt want me to take a loan but wanted me to go to a top university.
    Anonymous

    Comment by Anonymous (original poster) at 8:23 PM on Jun. 7, 2011

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