You have 100K loan. Do u go to college or start a business?

Not sure myself. College was nice and all, but it really hasn't worked out for me. I see a lot of people doing things not even closely related to their field and wonder how much better off they'd be had they taken out a small business loan than student loans.

I think had I had the vision and knew what product or service i wanted to provide, I would probably have taken the small business loan.

How bout you guys?

go to college. with the knowledge i have now i would also more than likely pick a course more suited to me.

i also dont have an entrepreneurial bone in my body.

I go to college in Europe and save at least half of that money. Then with my shiney new degree I get employed with a solid sum of money to comfortably start my adult life.

I'd complain that I'd only get a 100K loan based on the amount I've saved up since I was 15 years old.

college

4/5 businesses fail

Depends on the country you're living in ....

If i was in America i'd go with college ... they value knowledge.

I'd make it fixed deposit and enjoy its interest monthly or quaterly. I've no need for college as i passed college nor buisness as i got no buissness ideas.

I'd bolster my web dev business, maybe hire a couple people so I can take more clients.

Already have a Bachelor's in Computer Science and have no interest in furthering my education

given those two probably college. while i see the appeal of owning a successful business, the actually drudgery of running the fucking thing does not appeal to me at all.

@indzman: Start a sexy business =P

@richietickles: I'd say college but that depends on the person. Going to college to study something that you couldn't care less about or going for some easy courses that will be useless so that you can say you have a college degree seems like a huge waste of time...

Only if you become my partner =P

@indzman: Not sure my wife would be pleased with me if I said "hey hon, met this guy online and now I'm his sexy partner" =P

HaHa

I mean you become my partner on sexy buisness , but then again it'd be like "hey hon, met this guy online and now I'm his partner on sexy" =P

Go to college, without question. If you obtain a science degree or a business arts related degree (business administration, accounting, etc), you'll likely never have too much trouble finding gainful employment.

Your business could fail and then you're left with nothing...and no college education on which to fall back.

If you have relatives in the Venture Capitol area, start a business, get investments, cash out your garbage fake business for profit, continue to be rich like your VC relatives.

If like the rest of the 99.99% of us you are not Mitt Romney's spawn, go to college.

$100k lasts about 1 week for most new businesses.

A college degree is something you can have forever.

Unless the job you want requires a college degree going into debt to get a degree is a huge waste of time for most people. Especially when that debt gets into 6 figures. College has become a scam that's gotten too many people saddled with debts that will take them decades to pay off (if ever) for degrees that are worthless. Sadly your business will probably fail as well so your best bet is to get a job you hate like most people, buy lottery tickets to keep a tiny bit of hope alive and drink good booze when you can afford it, cheap when you can't.

Alright, I think this theoretical question needs some classification:

The 100k figure I pulled out was just a number. I could have said a million or 10 grand, I just chose something that sounded like a middle ground between small business and college loans.

When I asked the question, I was more looking at what people would have done back when they finished high school, but I only get 60 characters >_< and forgot to specify in my post.

IMO, if you have an idea and you're passionate about it, taking a couple classes at a community college to get educated on the basics to intermediate stuff is a cost effective means. Of course, I don't like the idea of running the business everyday for the rest my life, but that's when you step aside and bring someone else in to do it and you still get money cause you own the company is a nice thing.

pfft, yeah it's also something you can have forever and never get you a job when there are none available.

People have waited 20 years to finally get something in their original field of study. Fact is, the investment in a college degree doesn't mean you'll get a job... but you won't hear guidance councilors in schools say that.

If you get the right degree...teaching, nursing, engineering...you'll never have trouble finding a job. If you get the wrong degree...Sociology, History, English...you will always have trouble finding a job.

Lottery Tickets are what I consider the "Stupid Tax". Only the statistically stupid waste their money on Lottery tickets, and they're taxed accordingly. Seriously, you're statistically more likely to get hit by lightening, survive, and then die in a plane crash on the same day.

The "in your field" part is an unnecessary self restriction. I haven't worked in my field in 15 years, yet I make more money and am more satisfied now than ever at work.

I never would have gotten the entry level job w/o the degree.

Between those two choices? Neither. I already graduated from college and I have no urge to return, and I don't have the slightest clue how to run a business.

Start a business. We have a huge following for a gaming store here in our area and could make a go of it easily but just do not have the funds. Sad really but maybe some time in the future. A girl and a dream

I would go to college.

I'd go to college

Is 100k enough to start a business?

Exacto !

Business assuming you are smart and have a good work ethic.

College if you are lazy and not intelligent.

The university and college system has been dumbed down so much in the US and Canada it is pathetic. It is trivially easy to graduate with a great GPA from nearly any school if you have even average intelligence.

Depends entirely on the situation. College wins by default, but there are scenarios where I would consider another option.

Rather than starting a business, I'd probably look for a well-established single location small business with a good return rate (that's customers) that's looking to expand and buy a controlling share. I'd do a hell of a lot of research about the market its serving and looking to expand into, the competition, overhead costs and all that fun stuff before taking the jump, but there are good opportunities out there if you know where and how to look, how to gather information on fees and taxes and public records (which means navigating local government) how to audit and so on...it's a hell of a lot of work.

But so is college.

easy choice; neither

don't need college and don't need to run a small business

why would i spend my money in order to get the chance to do what is basically work, when i could be spending it on something fun that has no strings attached to it

I would just smoke a whole lot of crack.

I won't reveal what university I attended for obvious reasons, but I have 7 degrees which I completed in just about 9 years.

That's too vague a question to answer objectively as it depends on the country, the person involved and his ability, the business...etc. But in general, I say unless you'll be going to a high-end university pursuing a degree that will grant you access to a high-paying career, go for your own business. College is great and expedient when done right, but few people do or have the means to do it right. As such, it ends up being a waste of money and, most importantly, time.

Except that in this situation, it's a loan, so it DOES have strings attached.

Don't get me wrong...I see no inherent problem with having fun by going on a 100k spending spree. But you don't do that on a LOAN, that's stupid as hell. The bottom line is that you don't get a 100k loan unless you're expecting that money to generate more money. That requires work. If you don't want to work, then you don't take a 100k loan AT ALL.

And furthermore, you're gonna have a hard time GETTING a 100k loan for anything other than "work". The simple reason is that the people giving you the loan want their money back (and more). If you're not using the money for work, and are just using it to dick around and have fun on 100k, then what reason do the lenders have to believe that you're ever going to be able to pay them back? Sure, you could LIE about what you're using the money for, and then you could have a really good time with that 100k dollars (for a little while). The problem is, now you're potentially on the hook for fraud once it's discovered that your unpaid 100k loan for business expenses was actually used to party in the Bahamas. I hope that loan was worth going to prison for (or worth ending up with your body parts washing up on the beach, if you happen to go with some of the shadier lenders).

And again...there's absolutely nothing wrong with spending $100k to have fun. But you don't take out a goddamn $100k loan for that.

@MrGeezer: lol that's responsible behaviour

hogwash i tell ye

Business. I'm already done with my studies,,, for now.

Start a business

As a truck driver, $100K would make for the beginning's of a great freight hauling company.

However, at this point in my career, I'd put it away until I have the driving/delivery experience to go out on my own.

Spend it on lotto tickets, with all the tickets I can buy with that money maybe i'll hit the jackpot.