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College Students Sell Happiness Instead of Blood To Pay Back Student Loans

A recent article in the Penn State newspaper disturbed me greatly. Surveys are indicating that students would rather go for a bigger paycheck over happiness, in order to deal with debts. It is one thing to seek a bigger paycheck over happiness but what these young students don’t realize is that dissatisfaction with your job easily leads you to excessive debt.

When people don’t like their jobs they tend to treat themselves more with fancy toys, new shoes, or luxury trips to reenergize themselves. More self-medicating expenses lead to a lower quality of life if the job does not come with a seven figure paycheck.

Student loans take years to pay back but the reality of remaining in a job that brings you no satisfaction and joy are unrealistic. Sooner or latter many people learn that slaving away at a job you hate just to pay the bills is not a good way to spend the life you’ve got.

Michael Berkowitz is paving his own road to finding the perfect job: sacrifice happiness for a high salary.

Berkowitz (junior-marketing management) said he is motivated by money, and to him, satisfaction isn’t the most important aspect of a job.

Berkowitz said he has plans of becoming a lawyer and hopes to own his own law firm. He said being his own boss and making a huge salary would keep him happy, regardless of the job.

Berkowitz isn’t alone. A study released last month by Experience, Inc., a Boston-based career services company, shows about 50 percent of students are dealing with school loans by seeking careers that offer large paychecks but maybe not pleasurable jobs.

“In order to be successful in this world, you have to make money,” Berkowitz said. “Money characterizes the most powerful people in the world. Look at Donald Trump.”

The study showed that 50 percent of students would accept jobs for money over self-fulfillment. Student loans influenced 27 percent of students to choose their career path based on post college debt, according to the study.

“In our society, a lot of people are motivated by money,” Rayman said. “Students are predisposed to look for a career where they can make more money to pay loans off faster.”

Rayman said jobs like banking and consulting, which are associated with luxurious lifestyles, are influential to students seeking money. He said engineering and technical jobs are in demand and have a strong influence because of the higher starting salaries.

Dennis Chow (senior-business management) said he is not exactly sure what he wants to do after graduation, but said students mess up by going for nice cars and plasma TVs right after graduation instead of handling their post college debt.

“Don’t engage in unnecessary spending,” Chow said. “Give up the fun time for now and do it later.”
Chow also said he is scared of the current financial crisis and isn’t sure what the real world has to offer. Because “loans are a big thing,” he said he would accept a higher paying job he didn’t enjoy to get out of debt.

“I’d be willing to put up with a short-term job I disliked to pay off my college debt,” he said.
“Most of my day is going to be at this job,” he said. “So I don’t want to be there if its long term.”

Source: The Daily Collegian

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About Steve Rhode

Steve Rhode
Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.
  • http://www.financeurlife doctor S

    Thats how college students are today, they are driven by the big lights, high salaries, and huge bonus checks. What they are in for is a rude awakening b/c all that is far fetched, especially with our economy. Reality is a hard pill to swallow. I am 25 and graduated in 2006, I learned very quickly that life is going to consist of me working for a long time and for less than I am always worth. Great article though!

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