Why College Keeps You Broke & Dating Costs More Than You Think

Rashad Bilal (0:01)

People that never been to college, people that are first generation, your first generation, people that parents make $40,000 that they're living on on the poverty line, or even people that's middle class.

They don't even have enough education to be educated, so they don't they don't really know what what college you should be going to. They don't know exactly what degree or earns the most money.

It's trial and error. It's just going off of what they think, what they want, what they they like the mascot. And it's a debt trap. And it's it's you're never you're never going to get the full value out of this degree. So you go into school for four years, sometimes five, you're racking up 50, 100, $150,000 student debt, you get it out of school, you can't find a job or if you find a job, you it's going to be nothing. It's tough.

Troy Millings (0:57)

People MBAs are having a tough time getting jobs.

Rashad Bilal (0:59)

And then you're going to be paying $1,500 a month for the next 30 years.

Troy Millings (1:06)

Yeah, and truth be told, the student loan crisis should have caused a collapse in the market, but they keep finding ways to avoid that disaster and then tied up with the bond market being in disarray and rates going higher. We're getting to an inflection point, but that ties into the endowment.

It's tough.

Rashad Bilal (1:29)

But once again, it's targeted to the most, I want this is important for people to understand. It's targeted to the most vulnerable. This is really predatory lending. It's targeted to the most vulnerable population that does not have enough education to know the process of education.

So, you're selling dreams. This is kind of like gambling. You're selling a dream that if you go to college, this will be a pathway to make money and to be a successful person.

Troy Millings (2:00)

And once again, we're pro-education, but the financial risk is higher than it's ever been. And then when this was being pitched in the 80s and 90s and early 2000s, some people are walking away from undergrad with $290,000 in debt.

Rashad Bilal (2:15)

There's way too many colleges right now, and there's way too many degrees.

It was up to me. I would combine a bunch of these. There's no need. There's no 400 colleges, 500 colleges at the most. State schools, it should be three state schools in every state. Downstate, midstate, upstate.

Troy Millings (2:43)

But now you get to mess with the endowment money.

Rashad Bilal (2:45)

Why you need 100 state schools? Why you need 100 state schools in one state?

If it's a state, just think about that. If it's a state school, technically you should only have one school for the state. All of the resources, all of the information, all of this should be, okay.

Troy Millings (2:59)

But then you start to have monopolies, and then the government involved.

Rashad Bilal (3:02)

So that's why I said three, three, three. Downstate, midstate, upstate.

Why don't we, we don't need 70 state schools in one state.

Troy Millings (3:13)

You're starting to mess with the money, Flourishad. That's the other part. The endowment program, booster program, real estate development, academic grants, book program. There's a lot of money that funnels through those channels. Like if you just get time, just go search up the history of universities, and then college and the money that flows through each one, it's really fascinating. So that's, I mean, it's a great solution, but in America, you often don't want, going back to our capitalism conversation with Vanden, 19 Keys, the correct solution would to be to do that and shrink the number of degrees, but then you start to cut off funding for, say departments and programs, and the slush fund isn't as available. So it's interesting to say the least.

Picking up from Monday, I know you said people won't stop being outside, and there's moderation to chasing women. What for the fellas, what is the moderation and how much time you should spend on extracurricular activities?

Rashad Bilal (4:28)

To me, when you broke, you shouldn't be chasing women at all. But once again, I go back to a strong relationship can help you.

So this whole thing of chasing, find, I like the word find better.

Troy Millings (4:50)

Find, yes, find one person.

Rashad Bilal (4:57)

Dating, all of that is a luxury afforded to people that can afford it.

I feel like if you're trying to figure it out, if you're still struggling, there's nothing wrong with that. But it's gonna cost you money, time, energy and resources to go on a bunch of dates and to go on dating apps and to date one person one week. You're not in a position. You know they say cheating is a rich man's sport? Dating is a rich man's sport, really, if you really think about it. Fine.