ONTD Political

Romney: Borrow Money From Your Parents

11:56 am - 04/30/2012
Mitt Romney is keeping his focus on the economy and encouraged young people to “take risks” to deal with a tough job market, even if it meant borrowing money from their parents, reports the New York Daily News. At a speech at Otterbein University in Ohio, Romney talked about how the owner of sandwich chain Jimmy John’s got started by borrowing $20,000 from his father.

“We've always encouraged young people: Take a shot, go for it. Take a risk, get the education, borrow money if you have to from your parents, start a business,” Romney said.


Democratic activists quickly pounced on the remark as another example of how the presumptive Republican nominee is out of touch.

“Only someone who paid for college by selling stock given to him by his CEO father would just casually assume students could go borrow $20,000 from their parents to deal with the economic challenges they face,” a spokesman for the Center for American Progress Action Fund tells the Associated Press.

At a roundtable discussion with seven students, Romney noted engineering majors were in high demand and wondered whether students would have chosen their areas of study differently if they had been clearly told about job prospects.

“You really don’t want to take out $150,000 loan to go into English because you’re not going to be able to pay it back. You might want to think about something else that meets your interest,” Romney said, noting that “as an English major I can say this,” reports ABC News.
Romney graduated with an English degree from Brigham Young University and later went on to study law and business at Harvard.

Romney’s speech was part of an effort by his campaign to continue focusing on the economy even as President Obama tries to shift focus to other issues, including national security, points out Reuters.

Source

Because everyone's parents have money they can borrow? I seriously hate this smug rich asshole.
circumambulate 30th-Apr-2012 08:18 pm (UTC)
Yeah, but he's also right on that bit - taking out huge amounts of debt for a degree with no career path to repayment will make you equally miserable. Education is indeed an investment - not all investments are good ones.
yeats 30th-Apr-2012 09:44 pm (UTC)
meh, there's really no silver bullet that guarantees you a job these days.... as maladaptive said, even people with science degrees are often S.O.L. when it comes to getting a job. and honesty, it's been my experience that most humanities subjects are equivalent when it comes to being evaluated on the job market -- a history degree is not going to suit you any better than an english degree to work at a publishing company, for example.
circumambulate 30th-Apr-2012 10:47 pm (UTC)
Sure, which is why it doesn't make much sense to take on a lot of debt for most humanities degrees. Also, I would stipulate that if an individual doesn't have at least a general idea of what their career path/earning prospects are at all, they have even less business taking on any debt.

Fundamentally college should be about furthering knowledge not getting a good job, but if you have to borrow for the former, you can't neglect the latter. Certainly any degree is no guarantee of a good high-paying job, but there's tons of data on average starting salaries per field, etc., that can help people judge.
yeats 30th-Apr-2012 10:50 pm (UTC)
i guess my point was that "the degree you get a diploma in" =! "the field you end up working in"... so it's not enough to say that humanities majors are never going to get a job in their chosen field. i know plenty of successful humanities graduates who work in a variety of fields -- in fact, the flexibility of a humanities degree can be a boon, while a degree in math or a hard science can be a hindrance if you're looking for a job that doesn't directly require those skills.
circumambulate 30th-Apr-2012 11:29 pm (UTC)
Sure, I'm one of them - I have an Art History degree with a fine-art minor, and I'm now quite high up in one of the largest tech companies in the world. But, I also made a decision about 15 years ago, after managing galleries for a few years, to either go back to school for a graduate degree, or do something else entirely. Even then I couldn't justify the minimum 40-50k in loans it was going to cost me for a graduate degree in a fairly low paying, low total jobs field. If I hadn't done that I don't know where I would be now.
yeats 30th-Apr-2012 11:36 pm (UTC)
oh, are we talking about graduate degrees? in that case, disregard my points. i just meant, it's not fair to say that a certain humanities degree -- like, say, literature -- is necessarily less valid than another, because there are a lot of catch-all positions where all humanities degrees are considered: admin work, publishing, nonprofits, new media tech companies and food journalism are all places where my friends with degrees ranging from English to Women's Studies.
homasse 1st-May-2012 01:25 am (UTC)
My BA has absolutely zero to do with my current job - I majored in history, focusing on WWII Germany, and now I'm a Japanese-English translator, and I didn't even start learning Japanese until after I graduated. I'm all for people majoring in whatever they want as an undergrad.
yeats 1st-May-2012 01:26 am (UTC)
exactly! that's why i think -- see page 3 -- it would be awesome if there was, like, a clearinghouse of advice for undergrads in the humanities to get tips on how to parley a BA into a successful job.
lizzy_someone 1st-May-2012 02:13 am (UTC)
OT, but would you mind talking a bit more about how you became a translator, especially after starting your language-learning so late? I'm interested in going into translation (French-English, probably, or maybe Spanish-English), but I'm worried about how to become proficient enough. And also whether to get a master's in translation after getting my language skills more up to scratch -- I think I'd enjoy it, but I don't really know how helpful it is, marketability-wise, or whether I'd be better off saving the time and money and just relying on language proficiency and my (future) B.A. in linguistics.
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