I know this is a slight bit personal, but bear with me :). I’m stuck between going away and commuting to college.
I’m ad avid Austrian fan of economics and just became interested in it in my senior year. I’ve closely kept my eyes on the economic crisis we are in, and look around at both sides. I’ve put off my college decision until really now because of the crisis. From a look around at the mainstream economists they generally have a positive feel and believe what the government is doing will work and so on. Austrians on the other hand, expect a severe crisis to last for a while ranging from stagflation at the best to hyperinflation depression at the worst. I don’t know when that will begin or end. I have some gold and stuff, and plan on saving alot more. If I was to go away the college would cost alot of money (Loyola in Baltimore), but If I was to stay it would cost alot less (Rutgers). Will going away to college be a bad move right now according to Austrian economists (spending alot of money, being dislocated from home, etc)? I know it sounds like a stupid move to call it entirely off of economic future that might happen in the future, but in my opinion this has to get worst for the Austrians to be vindicated because of all the government interference.
So according to economics, (you can add in personal input on commuting/going away if you want), would it be a smart decision to fork away money right now? Thanks.
In this particular situation, you can never go wrong with the cheaper of the two options. If the macro is bad, you’re saving money to stay afloat and if the macro is good, your saved money goes that much farther.
I recommend doing what ever you think best without regard to the cost. I would advise going to the school with the best party atmosphere so you will at least have something to be proud of upon graduation. At worst you will have modest loan baggage that they Gov will probably forgive anyway or you will be able to dump in one of your 3 or 4 future bankruptcies. Besides they are coming out with this crazy Slavery/Conscription/Indenture Service stuff that is supposed to pay for this. So you go and pick up some garbage with old people or punks, swallow your pride, shout “I love (insert person, country, symbol).” and pay off either school. And you will be fine as long as you do the following:
Don’t mention the Judeo-Christian God.
Don’t admit smoking cigarettes.
Attend therapy at least once.
Use only the two or three hundreds “correct phrases”.
Believe that rich people make over 75K per year.
Hate the rich people in 5.
Love taxes.
And never ever mention you have read any Austrian papers or look at Austrian web sites.
Make sure you delete all Austrian data from any electronic devices you have.
I know it is insane. But it is the environment we live in.
Consider going to school in a foreign country where you can learn the language for your whole school career, not some semester abroad thingy.
Also consider not going to college. If you worked 4 years you would have 4 years of salary and experience. Experience at a crap job is still experience, believe it or not. If you go to college what will you have in 4 years? Do not use college as a way to avoid the humiliation of a crap job, do not use it as a fun place to hang out waiting for the recovery that might not be there. You might attend trade shows in your chosen profession and ask them.
In particular any kind of government job, including the military.
As far as loan forgiveness schemes go, it is not clear you can declare bankruptcy on student debt (talk to a lawyer before entertaining that fantasy), once you owe the gov do not expect them to inflate your loans away. Could happen, but might not. Good luck on scamming the system.
There are free universities like cooper union, and virtually all will pay full freight if they like you. If you are paying for college maybe you need to ask why you are not getting paid to go and what you can correct about yourself to get the money. Spend a few years working on your own personal defects. I hate to tell you this but if you are paying full freight it may be a sign that the U does not think very much of you, and your future prospects. They are letting you in so you can be a serf an pay for the smart kid they let in for free.
I have to agree with Byzantine and Stranger. Fiscal conservatism and living modestly is a lifestyle choice, not just an attitude in a bust. The people who prosper make smart economic decisions at all times, regardless of the climate. It becomes part of their nature.
You didn’t mention WHAT you will be studying. Make sure that where ever you go, it’s a profitable path you are pursuing. Even if you take the cheaper option, but get a liberal arts degree, you’re probably much better off if you had worked a job and tried some entrepreneurship on the side instead.
Well, I plan on majoring in economics/business wherever I go. Maybe some history on the side. Loyola University does have Thomas Dilorenzo there, but I don’t know how much that will change things concerning my economics major. My parents say “oh yeah, it will be fine” (concerning the money) and stuff and don’t want me to stay home, but I just don’t know how long the economic problem will last. My family is doing fine, its just me contemplating whether I want to have them spend that kind of money when it could go elsewhere-I don’t know where though.
The big downside of commuting is that apparently you have no social life, its hard to make friends, and its not much of a change. I’m in it for both aspects I guess lol.Last thing I want to do is make some decision I regret. Basically the conundrum I’m in is that for Austrians to be right the economic problem has to get worse, ranging from years of stagflation to outright hyperinflation and destruction of the American economy. So bad news for the economy in the future. If my parents were to spend the money, I would get the college experience and the education and all, but would still have to deal with a bad economic climate. If I stay home and commute…I don’t even know where I would go from there lol.
Am I being too deep or are people getting what I’m saying
If you’re going to college to make friends and have fun, stay home and go clubbing 3 nights a week. It’s a lot cheaper and a lot less stress.
Everything in life entails some degree of risk.
I think you are thinking too much. Pick a direction and make the most of it. You can fail or succeed whichever way you go, how it turns out largely will be based on how you handle it.
I suspect you know that commuting is the right move, but you’re trying to talk yourself out of it.
