> Also, if you've ever worked in the trades you would know that a large portion of them are ignorant and uneducated. That stereotype exists for a reason. Its just a fact, and they have a tougher time navigating life because of it. I've lived it.
I agree with you there, I think there is a tendency to romanticize the life of a blue collar worker, and thing of them as the noble simple idealized "proletariat", when as you point out the stereotypes are stereotypes for a reason.
But I have to wonder is part of that because of the brain drain in the trades that resulted from everyone going to college and feeling they had to do white collar work. Before a smart, observant, hardworking young man could become an electrician and by virtue of being observant and quick witted could succeeded and excel and become an outstanding electrician that could bring about innovation and elevate his work team. Nowadays though the same hardworking intelligent young man is being told that the trades are for stupid people, and he is too smart for that and wouldn't it be much better to go get a college degree so he can get a "real job". Then twenty years and $50,000 of student debt later he finds himself as a project manager trapped in a standup meeting at 8:00 on a Wednesday morning, hating his life, drowning in unfulfilled despair and wondering what went wrong with his life.
I just think that part of the stereotypes about the trades has become a self fulfilling prophecy.
I have hopes that the invisible hand will provide some corrective feedback. Because at the end of the day, someone has to do the electrical work and the construction work etc. If it can't be done without some amount of IQ the market will adjust for that.
This is already coming to pass in hot real-estate markets where it's almost impossible to get any sort of trade help. It feels like most of the skilled tradesmen (and women) have a plethora of job choices and they by far prefer to build new housing instead of dealing with nitpicky rich people for the same money.
I agree we are in an unstable situation and it will equal out over time. My main concern is the burden it places on us all in the meantime. Those most vulnerable are going to be hit the hardest.
According to this source[1], the average student loan debt for a new 4-year graduate in 2020 is $28,400. Of course, this is highly variable depending on the student, but $150-200k is not typical for a 4-year degree.
There seems to be a bunch of variability here. In support of my original assertion of 150-200k, that site has multiple average debts for different fields in my stated range.
Actually, the article you linked confirms my original statement. Look at the "graduate loan debt" section.
From the article you linked:
Average student loan debt for a professional degree from a private, nonprofit institution $243,300
I have no idea how they got 28k when most every number I see on that page is much larger.
There is a huge, huge difference between the debt you take on in undergrad vs grad programs vs law school vs medical school, etc. You are looking at the numbers for the most expensive programs (that also result in some of the highest paying careers!) to make the case that people have high debt, but those are the minority. They also tend to be the most educated and have the highest future earnings potential. Most people do not advance past an undergraduate degree. The 28k number is far more relevant, and within the article you linked.
Your page says the same number as the parent for a bachelor degree: $28950.
All the other numbers you see that are higher are graduate degrees. Comparing a medical student debt (4+ years more of school beyond the 4 of undergrad, residency, perhaps a specialty on top) to only a 4 year degree is not representative of the vast majority of student debt.
I agree with you there, I think there is a tendency to romanticize the life of a blue collar worker, and thing of them as the noble simple idealized "proletariat", when as you point out the stereotypes are stereotypes for a reason.
But I have to wonder is part of that because of the brain drain in the trades that resulted from everyone going to college and feeling they had to do white collar work. Before a smart, observant, hardworking young man could become an electrician and by virtue of being observant and quick witted could succeeded and excel and become an outstanding electrician that could bring about innovation and elevate his work team. Nowadays though the same hardworking intelligent young man is being told that the trades are for stupid people, and he is too smart for that and wouldn't it be much better to go get a college degree so he can get a "real job". Then twenty years and $50,000 of student debt later he finds himself as a project manager trapped in a standup meeting at 8:00 on a Wednesday morning, hating his life, drowning in unfulfilled despair and wondering what went wrong with his life.
I just think that part of the stereotypes about the trades has become a self fulfilling prophecy.