Sapphire
Rookie
- Nov 11, 2013
- 5
- 1
- 0
- Banned
- #1
Had this debate on this very subject with several friends who of course with their backgrounds of being supported by family and never having to work had the opinion of "it's borrowed money therefore you have to pay it back" argument. I kindly reminded them that a loan is just that, a loan. Monies that are conditionally distributed to students upon condition of graduation and financial return. However the truth of that is not always that simple, given the circumstances that play in part of the current financial crisis.
Some say "students should pick good majors instead of trying to study pottery." As satire would have it, most college students in debt are students that have non-science majors. So for some people with no clue, students in debt are those of the liberal arts and other non-science majors. Some people with this argument do not understand a few things:
1) Either you live in a state with a high downturn of employment
2) Picked a major (e.g psychology) that requires you to continue schooling therefore acquiring more debt before you reap the benefits of financial gain.
3) Picked a degree in which it is highly competitive in the job market (e.g business).
Jobs like engineering, chemistry, medicine, are not always the most popular majors in college. In actuality business is perhaps the most popular major in many of the universities across the United States and having worked in the professional world, I've met few engineer majors and/or chemist. I think a lot of criticism coming from people who blame students on their condition are those who are outside looking in.
I have a theory to hopefully solve this:
As a graduate student I think theoretically universities and other private institutions ought to at least go into a contract with students giving them the option to either become career college students with no goal to pursue a career in the desired major of their choosing, or students who do have an idea of what career they want to choose. Students who desire majors such as cultural studies, liberal arts, get financial help however this help is contingent upon completion of undergraduate work with the intent of pursuing an occupation thereafter to help pay off the loan. The student can defer the payment if (and only if) they encounter the following:
1) Unexpected life misfortune
2) Unable to find a work
3) Incapacitated (or is suddenly disabled which prevents the person from working or able to pay it off--this would not effect married couples unless both are severely disabled)
4) Laid off from work
Students that pursue degrees even in the liberal arts such as social work, psychology etc still have the same contingent upon completion of desired major along with the pursuit of an advanced degree. No interest rate, nor would the student be obligated to pay back the loan unless the student pursues a doctoral degree.
Now of course I'm sure there are flaws with this idea but what say you?
Some say "students should pick good majors instead of trying to study pottery." As satire would have it, most college students in debt are students that have non-science majors. So for some people with no clue, students in debt are those of the liberal arts and other non-science majors. Some people with this argument do not understand a few things:
1) Either you live in a state with a high downturn of employment
2) Picked a major (e.g psychology) that requires you to continue schooling therefore acquiring more debt before you reap the benefits of financial gain.
3) Picked a degree in which it is highly competitive in the job market (e.g business).
Jobs like engineering, chemistry, medicine, are not always the most popular majors in college. In actuality business is perhaps the most popular major in many of the universities across the United States and having worked in the professional world, I've met few engineer majors and/or chemist. I think a lot of criticism coming from people who blame students on their condition are those who are outside looking in.
I have a theory to hopefully solve this:
As a graduate student I think theoretically universities and other private institutions ought to at least go into a contract with students giving them the option to either become career college students with no goal to pursue a career in the desired major of their choosing, or students who do have an idea of what career they want to choose. Students who desire majors such as cultural studies, liberal arts, get financial help however this help is contingent upon completion of undergraduate work with the intent of pursuing an occupation thereafter to help pay off the loan. The student can defer the payment if (and only if) they encounter the following:
1) Unexpected life misfortune
2) Unable to find a work
3) Incapacitated (or is suddenly disabled which prevents the person from working or able to pay it off--this would not effect married couples unless both are severely disabled)
4) Laid off from work
Students that pursue degrees even in the liberal arts such as social work, psychology etc still have the same contingent upon completion of desired major along with the pursuit of an advanced degree. No interest rate, nor would the student be obligated to pay back the loan unless the student pursues a doctoral degree.
Now of course I'm sure there are flaws with this idea but what say you?