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Would you agree to skip college for $100,000? | Fox Business

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Between 1980 and 2020, the average price of tuition, fees and room and board for an undergraduate degree increased by a whopping 169%. More than half of bachelor’s degree recipients from a public or private four-year college graduated with debt in 2020, and the average debt load was $28,400.  

Both parents and students are questioning more than ever whether the cost of a college degree is worth it and now Peter Thiel has a new solution for young people… it’s called skipping college.

Thiel has a new concept. Pay students $100,000 to drop out of school to start a company or start a nonprofit.  

Peter Thiel, co-founder of PayPal, Palantir Technologies, and Founders Fund, holds hundred dollar bills as he speaks during the Bitcoin 2022 Conference at Miami Beach Convention Center on April 7, 2022 in Miami, Florida.

Peter Thiel speaks during the Bitcoin Conference at Miami Beach Convention Center on April 7, 2022, in Florida. (Marco Bello / Getty Images)

No, this isn’t pay a pal. The new program will announce 20 new fellows, chosen from an applicant pool that is larger than ever to launch companies in AI, cryptocurrency and robotics with one of the biggest success stories being Vitalik Buterin, co-founder of Ethereum.  

IF YOUR COLLEGE DEGREE DOESN’T HELP YOU PAY THE BILLS, YOU WERE RIPPED OFF

So far, Thiel’s concept has backed 271 people.

In the court of public opinion, a college education is certainly a beach ball being punched around by a raucous crowd right now. So many parents have wondered why high schools have shifted to a one-track education system solely focused on a college preparatory track. Questions have risen about whether the students are really learning skills or merely being prepped on how to take courses, pass tests and get prepared for the next level of “education” to have a “real career.”

The newsflash over the last 20 years is that we still have a massive deficiency of blue-collar workers with incredibly high-paying and stable jobs and a gap in upstart entrepreneurs in both blue-collar and white-collar fields. 

High schools need to offer three tracks in the future: college preparatory, vocational and entrepreneurial. This will give students the widest track to achieve their maximum success post high school. 

US COMPANIES INCREASINGLY ELIMINATE COLLEGE DEGREES AS A REQUIREMENT AMID ‘OUT-OF-CONTROL’ SCHOOL COSTS

In addition, the new FAFSA process recently rolled out has been a complete and utter disaster. The FAFSA Simplification Act, which passed in 2020 and is now being implemented for the coming academic year, is aimed at supporting more middle- and low-income families by supposedly simplifying the process.  

But ask anyone who tried to use the new FAFSA system, and you’ll discover that glitches abound in the system and a backlog (like most government programs) that’s left people wondering if they filled out the forms correctly and if they will get any financial aid at all.

So, maybe Thiel is on to something as more Americans are rethinking the value of a college education. 

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The double standard on free speech at college campuses today, and the rise of investors and employers willing to back startups by young people or those that want to go work will create this “new collar” generation of workers.

If we can’t build better education systems, maybe there’s a better way of educating young kids today. As it stands, many students who get a degree in college today don’t even end up using their main focus of study in their real-life careers. My oldest child studied criminal justice and now runs a concrete company. My middle child studied psychology and now works for a business brokerage company selling businesses.

Even with the latest government handout of $1.2 billion by President Biden, as of the second quarter of 2023 there was more than $1.77 trillion of student debt. The problem isn’t getting better.  

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It’s time we start rethinking what we mean when we say, “Get an education,” and how we, as parents, view what a good job is in America. Maybe Thiel has one answer about “cutting class” that could actually result in young adults becoming big successes.

Here’s the question. Would you tell your kid to skip school for $100,000? Why? Why not? Is a piece of paper worth it anymore?

CLICK HERE TO READ MORE FROM TED JENKIN



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Urgent Money Miracle – $2+ EPC! Get Instant 90% Commission Bump

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Predictions for Mortgage Rates in 2024: What to Expect

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As we look ahead to 2024, many homeowners and prospective buyers are wondering what to expect when it comes to mortgage rates. The landscape of the housing market is constantly changing, so it’s important to stay informed about trends and predictions. In this blog post, we will discuss some factors that could impact mortgage rates in 2024 and what homeowners and buyers can expect.

One factor that could impact mortgage rates in 2024 is the overall state of the economy. If the economy is strong and growing, we may see higher mortgage rates as the Federal Reserve looks to combat inflation. On the other hand, if the economy is stagnant or in a recession, we may see lower mortgage rates as the Fed looks to stimulate growth. It’s important to keep an eye on economic indicators such as GDP growth, unemployment rates, and inflation to get a sense of where mortgage rates may be heading.

Another factor that could impact mortgage rates in 2024 is Federal Reserve policy. The Fed plays a key role in setting interest rates, and their decisions can have a ripple effect on mortgage rates. If the Fed decides to raise interest rates in response to inflation, we may see an increase in mortgage rates. Conversely, if the Fed decides to lower interest rates to stimulate growth, we may see a decrease in mortgage rates. Keeping up with the latest news and announcements from the Fed can give homeowners and buyers a sense of where mortgage rates may be heading.

In terms of specific cities and local mortgage companies, it’s important to note that mortgage rates can vary depending on location and lender. For example, in a city like New York City, where real estate prices are high, mortgage rates may be higher compared to a city like Indianapolis, where real estate prices are lower. Additionally, local mortgage companies may offer competitive rates and terms compared to national lenders. For example, in New York City, local lenders like Quontic Bank and CrossCountry Mortgage may offer specialized products and services tailored to the needs of local buyers.

It’s important for homeowners and buyers to shop around and compare rates from multiple lenders to ensure they are getting the best deal. Websites like Bankrate and LendingTree can be helpful resources for comparing rates and terms from multiple lenders. Homeowners and buyers should also consider working with a mortgage broker who can help them navigate the lending process and find the best mortgage product for their needs.

In conclusion, predicting mortgage rates in 2024 is not an exact science, but there are several factors that could impact rates. By staying informed about economic indicators, Federal Reserve policy, and local market trends, homeowners and buyers can make informed decisions about their mortgage. Shopping around and comparing rates from multiple lenders is key to ensuring you are getting the best deal on your mortgage. Whether you’re looking to refinance your existing mortgage or buy a new home, it’s important to stay informed and be proactive in managing your mortgage.

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