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Mark Cuban says taking out a loan to go to college is the "dumbest thing you can do"
Posted on 5/5/26 at 11:49 am
Posted on 5/5/26 at 11:49 am
Yahoo Article
Love him or hate him, the guy is financially smart. Stop being stupid with insane student loans.
Go to community college for two years and save a boat load of money on tuition. Then transfer to the bigger school to finish. Basic classes in CC are going to teach you the same stuff an expensive school will.
"Tuition and fees at public two-year community colleges are $4,150 per year for in-district students, compared to $11,950 per year for in-state students at public four-year institutions and $45,000 at private non-profit four-year schools (3) (the latter includes Harvard University, Stanford University, MIT, Yale and Cornell). "
And voila, your hopes of the American Dream just got a little easier.
Love him or hate him, the guy is financially smart. Stop being stupid with insane student loans.
Go to community college for two years and save a boat load of money on tuition. Then transfer to the bigger school to finish. Basic classes in CC are going to teach you the same stuff an expensive school will.
"Tuition and fees at public two-year community colleges are $4,150 per year for in-district students, compared to $11,950 per year for in-state students at public four-year institutions and $45,000 at private non-profit four-year schools (3) (the latter includes Harvard University, Stanford University, MIT, Yale and Cornell). "
And voila, your hopes of the American Dream just got a little easier.
39
Posted on 5/5/26 at 11:53 am to Techdave
Don’t sleep on BRCC women.
Literally.
Literally.
Posted on 5/5/26 at 11:54 am to Techdave
It is insane the amount of loans people are stuck with when they finish college. Or even better when they finish grad school.
Posted on 5/5/26 at 11:54 am to Techdave
Worked for me.
However it was a different time.
Those loans had the best finance options.
However it was a different time.
Those loans had the best finance options.
Posted on 5/5/26 at 11:55 am to Techdave
Or we can actually hold these ultra-bloated public universities accountable, cut some of the bullshite, and make it more affordable for people to go to college again.
Posted on 5/5/26 at 11:56 am to Techdave
The student loans a byproduct of disinvestment in education over the years, which lead to higher tuition costs. So of course people ended up taking loans.
Posted on 5/5/26 at 11:56 am to dstone12
quote:
Worked for me.
However it was a different time.
Those loans had the best finance options.
Yeah, I'm not sure how it is these days, but it used to be that a student loan is the cheapest money you can borrow.
Posted on 5/5/26 at 11:58 am to c on z
quote:
The student loans a byproduct of disinvestment in education over the years, which lead to higher tuition costs. So of course people ended up taking loans.
Go ahead and explain. This should be fun.
Posted on 5/5/26 at 11:58 am to Techdave
He's not wrong.
Posted on 5/5/26 at 12:01 pm to c on z
quote:
The student loans a byproduct of disinvestment in education over the years
No, it is the byproduct of the government using an "unlimited" pool of money to fund them which caused universities to increase prices and add a bunch of needless administrative positions that do nothing to further the education of those enrolled in the university.
This post was edited on 5/5/26 at 12:04 pm
Posted on 5/5/26 at 12:01 pm to Techdave
quote:
Go to community college for two years and save a boat load of money on tuition. Then transfer to the bigger school to finish. Basic classes in CC are going to teach you the same stuff an expensive school will.
I did CC for two years, finished at a state university, and then did grad school at a small private school that was cheaper than the big 4-year universities.
Still cost me about $70k.
Posted on 5/5/26 at 12:02 pm to Techdave
quote:
Taking out loan to go to college
If it cannot be paid off in 1st 2-3 years post college graduation, it’s too high.
quote:
Basic classes in CC are going to teach you the same stuff an expensive school will.
Many of those same basic classes were already taught in high school. You already paid for them before college (public schools, too…property tax or cost/tome/effort of HS).
That is big part of scam of college cost increases.
101s are ripoff:
Algebra is algebra
Biology is biology
Psychology is psychology
If you cannot test out, you might should consider CC anyway.
This post was edited on 5/5/26 at 12:08 pm
Posted on 5/5/26 at 12:05 pm to c on z
quote:
disinvestment in education over the years, which lead to higher tuition costs. So of course people ended up taking loans.
What the frick are you talking about?
quote:
The average current expenditures per pupil increased by 13% from the 2010–11 school year ($14,453) to the 2020–21 school year ($16,280), after adjusting for inflation.
Posted on 5/5/26 at 12:06 pm to Techdave
Posted on 5/5/26 at 12:08 pm to Techdave
I think the better option is to defer your enrollment for a year or two and work to gain some real world experience. Then start your 4 year college with money in the bank and some practical knowledge about adulting.
Posted on 5/5/26 at 12:11 pm to Techdave
You don't have to pay those back anyway.
Posted on 5/5/26 at 12:12 pm to c on z
quote:
The student loans a byproduct of disinvestment in education over the years, which lead to higher tuition costs. So of course people ended up taking loans.
Wrong. You have it backwards. Higher tuition is a byproduct of the government infusing a ton of cash into the college system by way of student loans. Schools could suddenly charge more without losing enrollment, which allowed spending bloat to occur. Adding unnecessary positions and majors that hardly anyone chooses.
College enrollment hasn't dropped over the years. Number of students at 4 year colleges are up around 50% between 2000 and now. Enrollment growth has kind of stagnated over the past 15 years, but it hasn't gone down. So your logic is wrong.
LINK
Posted on 5/5/26 at 12:13 pm to AUFANATL
quote:
think the better option is to defer your enrollment for a year or two and work to gain some real world experience. Then start your 4 year college with money in the bank and some practical knowledge about adulting.
This!
I did this. Had jack chit for college fund. Ended college with zero debt.
Retired early. Learned lots in College Finance classes (ie, ROI on this delay and subsequent knowledge built and applied to life paid off in spades).
Is an option for many. Get those loans albatrosses off of you so you can start building your independence, rather than guaranteeing your dependence.
This post was edited on 5/5/26 at 12:16 pm
Posted on 5/5/26 at 12:14 pm to Columbus
quote:
Or we can actually hold these ultra-bloated public universities accountable, cut some of the bullshite, and make it more affordable for people to go to college again.
The best part of his idea is that it will reduce enrollment at the big schools forcing them to reconsider their ridiculous tuitions costs. Maybe even bankrupt a few of them.
Posted on 5/5/26 at 12:16 pm to tigerbait17
quote:Scruffy has a buttload of loans, but at least with med school, he can afford it.
It is insane the amount of loans people are stuck with when they finish college. Or even better when they finish grad school.
There are people who go to crazy private schools that have higher loans than me with stupid degrees.
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