'You just feel lied to': This struggling Texas woman asks why she got a college degree

[alaskanseminole]

I don't know about others, but I'm not sure why these newer generations think they should have what their parents had right out of college? It takes time. I started out with:

1. Dorm room
2. 1-bedroom apartment
3. 2-bedroom apartment
4. 3-bedroom house (1500 sq ft)
5. 4-bedroom house (1800 sq ft)
6. 4-bedroom house (3,500 sq ft)

It was a decades-long progression that was tied to hard work & promotions that took time. My wife's niece thinks she should be building her "dream home" on land in Spring Branch in her early 20s off her husbands UPS job. They were advised not to do it, now he's lost his job and had to have my SIL move in with them just to make ends meet. They had to sell one of their brand new vehicles too, one of which was a loaded Chevy Silverado.

-------------

'You just feel lied to': This struggling Texas woman asks why she got a college degree — thought she'd be able to buy a house and 'things that make you happy.' Does she have a legit gripe?

People are often told to go to college so they can get an education and hopefully a good job so they can live a comfortable life. But many young Americans are realizing it isn't that easy.

Abby Ferrell, who goes by @placeofpods on TikTok, posted clip on Feb. 5 in which she tears up over this piece of advice.

“You just feel lied to,” the Texas resident said. “You thought that if you just went to college and got a degree, you’d be able to afford a house and things that make you happy.”

Ferrell, who says she has a biology degree, claims her post-college job barely pays her enough to cover her rent and groceries. But is her situation unique or a nationwide trend?

Productivity vs. pay
It turns out that what Ferrell is experiencing is less of a college issue and more of a salary stagnation issue.

In another video, Ferrell talks about how her father was able to support a family of four and own seven acres of land on a $100,000 salary in the early-to-mid-2000s. But now, that may not be possible.

“I can’t even support myself on a salary of just under $60,000,” Ferrell, who is single and childless, griped. “Make it make sense.”

It isn’t just Ferrell complaining. Salaries are losing their value, as a result of the “productivity-pay gap,” which is the difference between how much income the economy generates and workers’ wages. From 1979-2022, productivity increased 64.7%, while hourly pay only increased 14.8% — around 4.4 times slower — according to the Economic Policy Institute.

Ferrell might come across opportunities for advancement in her career, which could increase her income, but even so she may continue to face the productivity-pay gap.

Over 40% of people who attended college took out student loans, according to the Federal Reserve. The median amount they owed was between $20,000 and $24,999.

These loans, of course, come with interest. The average borrower takes about 20 years to pay off their student loan debt, according to The Education Data Initiative, while some grads can take as long as 45 years to pay them back.

Is college worth it?
Ferrell appears right that the old advice no longer holds: a college education is no guarantee for a high salary and material comfort.

But the education college does provide you can't be taken away. Legendary investor Warren Buffett, for example, argues that acquiring knowledge and skills provide something inflation-proof: a skillset that people will pay you for.

“Whatever abilities you have can't be taken away from you. They can't be inflated away from you,” he said during Berkshire Hathaway's 2022 shareholder meeting. “The best investment by far is anything that develops yourself, and it's not taxed at all.”

One of the skills Buffett has said is inflation-proof is communication — something Ferrell has in droves, as her TikTok video has reached 1.5 million views and nearly 18,000 comments.

 

[TJ8869]

Sounds like she needs to supplement her income with OnlyFans.

 

[alaskanseminole]

From the comments section:

• Today's graduates believe they can afford everything they want simply because they went to college for four years and now they can get a fabulous job. They forget that even with a degree, they're going to have to start at the bottom of their chosen profession and work their way up like all the GenXers and Boomers they're fussing about who won't get out of their way and give them the high-paying jobs they worked years for.🙄
• In the 90's upon graduating from college we lived in group homes, ate ramen noodles, drank cheap beer, drove old cars with no ac and am radio, and had so much fun and now have funny stories to share as a result. This time of struggle makes you more interesting and become a harder worker. Stop wanting everything now. Don't expect you will buy a house until you are in your mid-30's. Let go of how you want to live and live as you are and all will work out.
• Going to college is not a guarantee that you will have a wonderful life.
• 30 years ago I had to move across country and sleep on the floor of a studio apartment when I first started out. I lived pay check to pay check for the next 10 years trying to keep my head above water. That's simply how it is when you're first starting out. When did people start believing that they would get rich with their first job out of school? Why would they pay you huge sums when you haven't proven to be worth anything yet? She'll do just fine 10 years down the line if she works hard.

 

[hydro2.0]

Everyone is a victim.

 

[nolesincebirth]

These girls are always posting from a nice SUV, sun roof, etc. When I was in my early 20s, I drove an 8 yr old Ford Ranger with 90k miles. I lived in an apartment with roommates.

 

[IAFB2021Champs]

I would guess part of the reason this happens is because they a lot of times got what they wanted when they were growing up. I don’t see too many parents telling their children no or making them earn anything.

I work a lot with college students and it’s amazing that this is their first job for many of them. Oh don’t worry mom and dad still get them whatever they need and take them on Christmas and summer vacations and pay for their spring breaks.
So why would they not expect to have all that after they graduate from college?
Parenting the last 20 years has just gone away

 

[Hendy hawk]

I'm an old fart where the wife and I live on half of what she makes.
Explain to me why she can't support herself?
Never had much when I first started out and after marriage, we just kept plugging along building on our wealth.

 

[jasonrann]

Good luck to her. Good thing she got that college degree because the good lord sure shorted her on common sense.

 

[Hendy hawk]

Good luck to her. Good thing she got that college degree because the good lord sure shorted her on common sense.

This.
Beginning to think the I need it now attitude is a major problem today.

 

[bhawk24bob]

I've got some bad news for her, life isn't going to be easy if she thinks that graduating college is an accomplishment

 

[BrianNole777]

Home ownership is overrated, IMO.

Everything breaks in a house and it needs constant upkeep. And then there are property taxes forever.

IMHO.

 

[ButtersHawk]

Gotta say seeing her story breaks my heart....
At 22 I was expecting my first, had a 2 bedroom apartment and made 35k a year. I would have killed to have a college degree and making 60k at 22.
I think her complaint needs to be towards the housing market more than anything. Also like a previous post every one of these complaint videos I've seen have been from an amazing looking car for a 22 year old. I drove an absolute shitbox from age 15-25.
Lastly here's a radical idea but work your way up to where you want to be and quit expecting stuff the minute you step into the workforce

 

[ButtersHawk]

This.
Beginning to think the I need it now attitude is a major problem today.

I honestly think Amazon and DoorDash have fed into that mentality

 

[joelbc1]

Everyone is a victim.

She’s a “victim” of poor parenting, methinks. Parents need to nurture their kids for sure...but they need to expose their kids to the realities of life!
Most “good things” take time. And “time” is a bitch.

 

[EvilMonkeyInTheCloset]

Everyone is a victim.

Not yet........

 

[Tenacious E]

I don't know about others, but I'm not sure why these newer generations think they should have what their parents had right out of college? It takes time. I started out with:

1. Dorm room
2. 1-bedroom apartment
3. 2-bedroom apartment
4. 3-bedroom house (1500 sq ft)
5. 4-bedroom house (1800 sq ft)
6. 4-bedroom house (3,500 sq ft)

It was a decades-long progression that was tied to hard work & promotions that took time. My wife's niece thinks she should be building her "dream home" on land in Spring Branch in her early 20s off her husbands UPS job. They were advised not to do it, now he's lost his job and had to have my SIL move in with them just to make ends meet. They had to sell one of their brand new vehicles too, one of which was a loaded Chevy Silverado.

-------------

'You just feel lied to': This struggling Texas woman asks why she got a college degree — thought she'd be able to buy a house and 'things that make you happy.' Does she have a legit gripe?​

​

People are often told to go to college so they can get an education and hopefully a good job so they can live a comfortable life. But many young Americans are realizing it isn't that easy.

Abby Ferrell, who goes by @placeofpods on TikTok, posted clip on Feb. 5 in which she tears up over this piece of advice.

“You just feel lied to,” the Texas resident said. “You thought that if you just went to college and got a degree, you’d be able to afford a house and things that make you happy.”

Ferrell, who says she has a biology degree, claims her post-college job barely pays her enough to cover her rent and groceries. But is her situation unique or a nationwide trend?

Productivity vs. pay
It turns out that what Ferrell is experiencing is less of a college issue and more of a salary stagnation issue.

In another video, Ferrell talks about how her father was able to support a family of four and own seven acres of land on a $100,000 salary in the early-to-mid-2000s. But now, that may not be possible.

“I can’t even support myself on a salary of just under $60,000,” Ferrell, who is single and childless, griped. “Make it make sense.”

It isn’t just Ferrell complaining. Salaries are losing their value, as a result of the “productivity-pay gap,” which is the difference between how much income the economy generates and workers’ wages. From 1979-2022, productivity increased 64.7%, while hourly pay only increased 14.8% — around 4.4 times slower — according to the Economic Policy Institute.

Ferrell might come across opportunities for advancement in her career, which could increase her income, but even so she may continue to face the productivity-pay gap.

Over 40% of people who attended college took out student loans, according to the Federal Reserve. The median amount they owed was between $20,000 and $24,999.

These loans, of course, come with interest. The average borrower takes about 20 years to pay off their student loan debt, according to The Education Data Initiative, while some grads can take as long as 45 years to pay them back.

Is college worth it?
Ferrell appears right that the old advice no longer holds: a college education is no guarantee for a high salary and material comfort.

But the education college does provide you can't be taken away. Legendary investor Warren Buffett, for example, argues that acquiring knowledge and skills provide something inflation-proof: a skillset that people will pay you for.

“Whatever abilities you have can't be taken away from you. They can't be inflated away from you,” he said during Berkshire Hathaway's 2022 shareholder meeting. “The best investment by far is anything that develops yourself, and it's not taxed at all.”

One of the skills Buffett has said is inflation-proof is communication — something Ferrell has in droves, as her TikTok video has reached 1.5 million views and nearly 18,000 comments.

View embedded media

Yeah boo hoo. After college we lived in an apartment, then on base, and then another apartment, before we closed on a house when I turned 30. During that time we drove only used cars, with 2 of them being hoopties. I didn’t have a new car until 31 and it was a dodge minivan. There were a decade plus of dues to be paid before things started picking up with salary.

 

[onlyTheObvious]

Home ownership is overrated, IMO.

Everything breaks in a house and it needs constant upkeep. And then there are property taxes forever.

IMHO.

Agreed. Home ownership is an investment in a lifestyle. If you enjoy it have at it (I am homeowner).

Isn’t it pretty well known a generic biology degree isn’t as great as it sounds and many use it as an undergrad for grad school? Two of my kids did that. I also know several that are lab techs.

 

[Hoosierhawkeye]

I don't know about others, but I'm not sure why these newer generations think they should have what their parents had right out of college? It takes time. I started out with:

1. Dorm room
2. 1-bedroom apartment
3. 2-bedroom apartment
4. 3-bedroom house (1500 sq ft)
5. 4-bedroom house (1800 sq ft)
6. 4-bedroom house (3,500 sq ft)

It was a decades-long progression that was tied to hard work & promotions that took time. My wife's niece thinks she should be building her "dream home" on land in Spring Branch in her early 20s off her husbands UPS job. They were advised not to do it, now he's lost his job and had to have my SIL move in with them just to make ends meet. They had to sell one of their brand new vehicles too, one of which was a loaded Chevy Silverado.

-------------

'You just feel lied to': This struggling Texas woman asks why she got a college degree — thought she'd be able to buy a house and 'things that make you happy.' Does she have a legit gripe?​

​

People are often told to go to college so they can get an education and hopefully a good job so they can live a comfortable life. But many young Americans are realizing it isn't that easy.

Abby Ferrell, who goes by @placeofpods on TikTok, posted clip on Feb. 5 in which she tears up over this piece of advice.

“You just feel lied to,” the Texas resident said. “You thought that if you just went to college and got a degree, you’d be able to afford a house and things that make you happy.”

Ferrell, who says she has a biology degree, claims her post-college job barely pays her enough to cover her rent and groceries. But is her situation unique or a nationwide trend?

Productivity vs. pay
It turns out that what Ferrell is experiencing is less of a college issue and more of a salary stagnation issue.

In another video, Ferrell talks about how her father was able to support a family of four and own seven acres of land on a $100,000 salary in the early-to-mid-2000s. But now, that may not be possible.

“I can’t even support myself on a salary of just under $60,000,” Ferrell, who is single and childless, griped. “Make it make sense.”

It isn’t just Ferrell complaining. Salaries are losing their value, as a result of the “productivity-pay gap,” which is the difference between how much income the economy generates and workers’ wages. From 1979-2022, productivity increased 64.7%, while hourly pay only increased 14.8% — around 4.4 times slower — according to the Economic Policy Institute.

Ferrell might come across opportunities for advancement in her career, which could increase her income, but even so she may continue to face the productivity-pay gap.

Over 40% of people who attended college took out student loans, according to the Federal Reserve. The median amount they owed was between $20,000 and $24,999.

These loans, of course, come with interest. The average borrower takes about 20 years to pay off their student loan debt, according to The Education Data Initiative, while some grads can take as long as 45 years to pay them back.

Is college worth it?
Ferrell appears right that the old advice no longer holds: a college education is no guarantee for a high salary and material comfort.

But the education college does provide you can't be taken away. Legendary investor Warren Buffett, for example, argues that acquiring knowledge and skills provide something inflation-proof: a skillset that people will pay you for.

“Whatever abilities you have can't be taken away from you. They can't be inflated away from you,” he said during Berkshire Hathaway's 2022 shareholder meeting. “The best investment by far is anything that develops yourself, and it's not taxed at all.”

One of the skills Buffett has said is inflation-proof is communication — something Ferrell has in droves, as her TikTok video has reached 1.5 million views and nearly 18,000 comments.

View embedded media

I have to ask. . . why can't she support herself on 60k? Where is she living in Texas that 60k isn't enough to support one person?

 

[hydro2.0]

There are literally millions of trade jobs available. If she wants a good paying job she might have to do something she doesn’t wanna do.

 

[goldmom]

These girls are always posting from a nice SUV, sun roof, etc. When I was in my early 20s, I drove an 8 yr old Ford Ranger with 90k miles. I lived in an apartment with roommates.

This. If you weren’t married very soon out of college you got an apartment with a roommate.
Some of my friends got teaching jobs and were not able to afford a one bedroom so they shared costs on a two bedroom. No one drove fancy cars unless they had well to do parents who were subsidizing them. And that was pretty rare.
LOL in the early 70’s teaching salaries were a complete joke. Flight attendants made more.

 

[Hendy hawk]

I honestly think Amazon and DoorDash have fed into that mentality

Plus the thought that eating out 2-3 times a week is easier or cheaper than buying groceries and cooking at home.

 

[Fijimn]

There was an interesting report on NPR Marketplace about the lack of affordable starter homes in the US and then I listened to report about Boomers flooding city council meetings to put a stop to new housing permitting so they can keep their home prices inflated.

 

[alaskanseminole]

I have to ask. . . why can't she support herself on 60k? Where is she living in Texas that 60k isn't enough to support one person?

My MS teacher daughter does it on less than that and she travels. She and her BF went to Paris last summer.

 

[SF HAWKEYE]

Wife got a job 1.5 years ago at the bottom of the ladder. A job higher up came up and she didn't think she would get it because she doesn't have a degree and everyone she was up against had one. Fast forward to today and 4 promotions later and she is now a director and quadrupled her pay.

Fact of the matter is that these college degree kids in their 20's and 30's even don't want to work. They just mess around on their phones and leave to get a coffee and leave for lunch for an hour then leave for happy hour. Then complain about everything because they have their degree.

 

[goldmom]

There was an interesting report on NPR Marketplace about the lack of affordable starter homes in the US and then I listened to report about Boomers flooding city council meetings to put a stop to new housing permitting so they can keep their home prices inflated.

Where is this happening?

 

[FormerlyCyberCy]

Homes/mortgages were very affordable just 4 years ago. I’m sure it’s frustrating to have friends that made it into the market in time and be frozen out.

 

[Hoosierhawkeye]

My MS teacher daughter does it on less than that and she travels. She and her BF went to Paris last summer.

My family of 5 survives on slightly less than that. Granted we're in a relatively cheap part of the country to live. But still

 

[Tenacious E]

Agreed. Home ownership is an investment in a lifestyle. If you enjoy it have at it (I am homeowner

I agree. I know some (most?) people live in a home for 5-7 years, build up equity, and then sell to get a bigger house. They might repeat that process 3 or 4 times. We tried but could not find a house we wanted and started pouring money into ours. It is way over improved but we treat it as spending entertainment dollars, not making a financial investment.

 

[millah_22]

I kind of relate. I'm doing fine now so it's really not an issue for me but things were rough for a while. Teachers, guidance counselors, whatever, always pushing "you need a degree to be successful." which is true, but I don't think they do a clear job at making sure you understand the reality what it'sg going to be like when you graduate.

I'm much likely better off now than had I not got a degree. I also loved by time at Iowa. Do I feel like it was worth it? I donno. I prob could have taken a cheaper/easier route to get where I am than what I was sold on.

 

[Fijimn]

Where is this happening?

If I recall, it was suburban areas of the southeast. Can't recall the specific towns.

 

[joelbc1]

There was an interesting report on NPR Marketplace about the lack of affordable starter homes in the US and then I listened to report about Boomers flooding city council meetings to put a stop to new housing permitting so they can keep their home prices inflated.

Life is full of conflicts and ironies. This is but one of them, in “The Naked City”...
Capitalism has led to corporations buying homes and reselling them at inflated prices and this is another leading cause of higher housing prices.
I just returned from Phx area this past week. Spent a month there in a rental. Speaking with the owner of the other half of the home where I stayed, she volunteered she “bought” her place 2 1/2 years ago for $278k....the place We stayed was listed on Zillow for $418k...and it’s is damn near an identical unit!

 

[Fijimn]

Homes/mortgages were very affordable just 4 years ago. I’m sure it’s frustrating to have friends that made it into the market in time and be frozen out.

Often referred to as the QE mortgage generation. Now that the fed has stopped QE, we are probably looking at a new normal of 4%-5% for qualified buyers.

 

[millah_22]

Where is this happening?

Not the same as the boomers in meetings, but in Corvallis they had strict municipal policies about building upward, and there wasn't much space to build outward. A lot of developers were tearing down smaller houses to build bigger houses.

 

[Titanhawk2]

“I can’t even support myself on a salary of just under $60,000,” Ferrell, who is single and childless, griped. “Make it make sense.”

You're parents never taught you how to live on your own

 

[Sharky1203]

Too entitled, woudja, that's a hard no for me.

 

[goldmom]

Often referred to as the QE mortgage generation. Now that the fed has stopped QE, we are probably looking at a new normal of 4%-5% for qualified buyers.

We moved NINE times for job promotions - once during the Carter years and we had a mortgage with 13% interest which the company subsidized or we couldn’t have moved. We got moved again (the day Reagan was elected) and the price of our house had still appreciated by $30K when we sold it.
Over the years we never got a mortgage with less than 5.5% even with a great credit score and a big down payment. And that was a five year balloon which I don’t think is around anymore.
This was back in the day when you had to buy a house that was $1 more than what you sold your previous home for, so we had some pretty big mortgages by the time we sold our last big house and the law had changed re capital gains.
Houses today are obviously more expensive but an interest rate comparable to twenty or so years ago would really kill the market.
When we Boomers move on the flood of homes will change the dynamics - by a lot.

 

[EvilMonkeyInTheCloset]

I could answer these questions, but I can also read the room.............

 

[jasonrann]

This.
Beginning to think the I need it now attitude is a major problem today.

Spot on.

My daughter will be eight in a couple weeks and I already see it with her. If she gets something in her head, even something simple, like a treat or a toy or whatever, it needs to happen right now and she gets upset if it doesn't. I just think about how my dad would have handled a situation like that. Whether through words or a smack upside the head, it wouldn't be good. Luckily, my wife (no pics) and I approach those situations differently.

 

[joelbc1]

Too entitled, woudja, that's a hard no for me.

“Too entitled” is a result of poor parental guidance. Plain and simple. Folks my age(boomers) biggest failure as parents was wanting to “be friends” with their teenaged kids instead of being parents. I always loved my kids...but I never “liked” them until they were in their mid- 20’s...I think they were close to 30 before I ever has a cocktail with either of them...
I have consciously always remained “a parent first”...

 

[Bulldogs1974]

This. If you weren’t married very soon out of college you got an apartment with a roommate.
Some of my friends got teaching jobs and were not able to afford a one bedroom so they shared costs on a two bedroom. No one drove fancy cars unless they had well to do parents who were subsidizing them. And that was pretty rare.
LOL in the early 70’s teaching salaries were a complete joke. Flight attendants made more.

what was your starting salary if you remember?
Mine was $17k in 1997