re: #280 lawhawk

The new strategy is to find a good CC and then transfer in to a high quality university because where you finish is more important than where you start with employers. So, if you do your two years at BMCC and transfer to NYU, it’s the NYU that sticks with employers - but you’ve saved about $100k in the process since NYU is now running about $50k a year. That $100k can then go towards either graduate school or being able to afford other things faster - like cars, houses, etc., and skipping the debt is a good thing.

Debt really is the life-killer. The biggest secret of the American Royalty and their path to prosperity is that they actually pay a lot less for many things than most people do. The interest on loans, even at good rates, absolutely kills you on value. Get a $70k home loan at 4%? If you let that thing amortize over the full 30 year term, you’ll have paid double what that house was worth by the time you write that last mortgage check.

The lender, meanwhile, just got a free house (in terms of monetary value) for doing absolutely no work except lending you the money up-front. This is WHY the financial sector is the center of wealth in this nation — a bunch of already-wealthy people making scads MORE money by robbing everyone below them on interest.

The single best thing you can do for your financial well-being is to eliminate debt as quickly as possible and refuse to take on any more than is absolutely necessary.