The Most Educated Generation

In 2004, I was set to graduate from college.  The economy wasn't doing so great, the war in Iraq and Afghanistan was really getting bad, and my little BA in Government and International Politics didn't really give me a competitive skillset to quickly get a job.  The economy was starting to level out and housing prices were beginning to double overnight.  A professor recommended I go to grad school.  At that time, not a lot of students were going straight to grad school.  Little did I know, that trend would continue with so many Millennials to follow.

Because of the lousy economy of the past decade we are probably going to be the most educated generation ever but it comes at a price--literally.  We are also going to be the most indebted generation ever because of our massive student loan debt.

Under pressure from our parents who wanted so much for us to "go to college and get a good paying job," we decided at the age of 18 which college we would attend and what our major would be.  Two decisions that would shape not just our careers, but the rest of our lives.  Some of us early Millennials chose a state college and a relatively in-demand major like finance or computer science, and are making it okay. Others of us chose the ivy league or private college, with a $30,000+/year bill, and a major that wasn't any more special than the equivalent major at a state college.  Because of decisions made at 18, I know early 30-somethings who are married and want to buy a house and have children but can't do either because their combined student loan debt is nearly $150,000 which disqualifies them for any kind of house loan.

Fortunately, I chose a state school for both of my degrees and managed to consolidate my student loans right before the economy and housing market began to really crash in 2006.  My total student loan debt was the equivalent of a brand new BMW 300 series with minimal options.

Honestly though, if I had it to do all over again, I would have earned my GED at 17, gone to community college for two years, and then transferred to a state college with a major related to the medical field or health administration.  Are you wishing you had done it differently?