Interest Vary and its making me confused

In summary, the conversation discussed a freshmen college student's interest in pursuing a chemical engineering degree and their various ideas for future projects. The question of whether majoring in chemical engineering would be best suited for their wide range of interests was raised, as well as whether college is necessary or if they should jump straight into building prototypes and receiving funding. The physics professor advised gaining experience and funds before starting their own enterprise. The conversation also touched on the importance of focusing on one area of interest and the need for capital and professional engineers when starting a business.
  • #1
BoilingPoint
1
0
I'm a freshmen college student pursuing a chemical engineering degree. I have many ideas that I want to create ranging from food processing, recreating the future of human performance equipment, ocean discovery, computer programs, and more. Will majoring in chemical engineering be best suited for my wide range of interest? Is college necessary, or do you suggest jumping straight in right now? What does someone like myself do after college; do I work for someone (which doesn't seem very appealing) or do I just jump straight in, build prototypes and receive funding?
I spoke with my physics professor and he suggested I work for 3-5 years, gaining experience and funds then make the jump to starting my own enterprise.

All opinions are welcomed with an open mind. I would like to have an open discussion on this topic as well because I know there are many young people (an older) that have ideas but are confused when to make the move.

Thank You
BP
 
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  • #2
The only one of your interest that remotely has anything to do with chemical engineering is maybe food processing. You need to tone it down and focus on something and not try to stretch yourself thin trying to do too much. Secondly, I don't know what you heard but you don't simply start a business. You need capital, and if you are working on something that effects the public you need professional engineers. Get your degree first and worry about the business thing afterwards
 

FAQ: Interest Vary and its making me confused

What is interest and how does it vary?

Interest is the cost of borrowing money or the return on lending money. It can vary depending on factors such as the type of loan, the borrower's credit score, and the current market conditions.

How does interest vary between different types of loans?

The interest rates for different types of loans can vary significantly. For example, mortgage rates are typically lower than credit card interest rates because mortgages are secured by collateral (the house), while credit cards are unsecured debt.

What role does the borrower's credit score play in interest rates?

Borrowers with higher credit scores are considered less risky by lenders and may qualify for lower interest rates. On the other hand, borrowers with lower credit scores may be charged higher interest rates to compensate for the higher risk of default.

Can interest rates vary over time?

Yes, interest rates can vary over time. They are influenced by economic factors such as inflation, the Federal Reserve's monetary policy, and the overall state of the economy. As these factors change, interest rates may also change.

How can I compare different interest rates to make a decision?

When comparing interest rates, it's important to consider the annual percentage rate (APR), which includes not only the interest rate but also any fees associated with the loan. You should also consider the total cost of the loan, the length of the loan, and any other terms and conditions that may impact your decision.

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