Student Debt approaches $1 trillion

[Epsilon Delta]

You know, a big problem is the fact that there's not really much of a middle ground in the United States - it's either High School or College Degree and higher. In Europe, Canada and elsewhere there's a middle ground, technical, vocational etc. schools, they're better than high school degrees but lower than full college degrees and they're massively encouraged. I'm sure there's some sort of equivalent in the United States but it's nothing like in say, Germany, where the distinctions start way before in high school, there's separate tracks that people go to depending on their plans afterwards, a track for people who only want to get a HS degree, a track for people who want to go into technical/vocational training, and a track for people who want to go to college; there's not really a stress in "college-or-nothing" type of mantra anymore. There was a good report from the OECD last year but I can't be bothered to find it right now that went at length with it.

I think the major problem is a total lack of imagination and a paralysis in the US federal and state governments, especially now. It's like you can't do anything. Can't change anything. Can't come up with any solutions because everybody's riddled with debt. It's like a big fucking ship lumbering at sea with no direction and the Captain squabbling with the Crew over where to go while the passangers are all just sort of zombying around. Who knows how long this can last.

And it's a shame, really. The only hope for the United States is education one way or another. If it can't jump into the high-tech bandwagon there's really nothing left for it to do. Before it was ok, because, you know, if you didn't have a college degree maybe you could make cars or a VCR, now those job's are entirely gone and there was nothing anybody could've done about it. Nowadays if you don't have a degree you're going to work at McDonald's, and nobody wants to do that, so of course you're going to mortgage your future for... your future. And the dismal state of math and science education means most people are indeed going for useless degrees instead of the math, science, and engineering degrees which are needed to further the productive economy.

It's a tough issue.

 

[boedicca]

The Higher Education Bubble is bursting...and the poor students who've been duped cannot get risk of their debt by declaring bankruptcy.

I need to email my parents and thank them for their sacrifices to ensure that all 6 of their kids got a great education, without being saddled with debt.

And mine raised five who got through college without a bunch of debt.

Thank you Mom and Dad!

 

[Zander]

We need to teach CAPITALISM.

 

[Trajan]

Bankers were middle men tacking on 2% to Federal Student Loans

so?

 

[rightwinger]

The student loan 'financial disaster': By the numbers - The Week

The good news: More students are going to college. The bad news: More students are taking out loans to do so. Last June, for the first time ever, Americans' student loan debt outstripped their credit card debt. This year, total student loan debt is expected to cross the $1 trillion mark.

$24,000 Average amount owed by indebted college students who graduated last year. "Default rates are rising, especially among those who attended for-profit colleges," says Tamar Lewin in The New York Times. "In some circles, student debt is known as the anti-dowry."

9% Approximate percent of those enrolled in higher education institutions who attend for-profit colleges

6 % Percent that college costs have risen, every year, over the past decade. "Today's college student can expect to still be paying down loans when THEIR kids go to college,"

Yet your beloved President in his budget seeks to allocate additional funding for student loans.

How do you propose to pay for education?

 

[Oddball]

The student loan 'financial disaster': By the numbers - The Week

The good news: More students are going to college. The bad news: More students are taking out loans to do so. Last June, for the first time ever, Americans' student loan debt outstripped their credit card debt. This year, total student loan debt is expected to cross the $1 trillion mark.

$24,000 Average amount owed by indebted college students who graduated last year. "Default rates are rising, especially among those who attended for-profit colleges," says Tamar Lewin in The New York Times. "In some circles, student debt is known as the anti-dowry."

9% Approximate percent of those enrolled in higher education institutions who attend for-profit colleges

6 % Percent that college costs have risen, every year, over the past decade. "Today's college student can expect to still be paying down loans when THEIR kids go to college,"

Yet your beloved President in his budget seeks to allocate additional funding for student loans.

How do you propose to pay for education?

The same way you pay for food, housing and transportation.....Work for it.

 

[Trajan]

So? They earned their money, and they started out at the prime rate so that it wasn't really a 2% difference from the final rate the government gets. Why not leave it up to the individual to decide which place they wanted to get their loans? That choice was removed.

So?

Taking an additional 2% from students struggling financially only adds to debt and adds no value

Having private sector loans where somebody actually scrutinized the credit worthiness of the student based upon his degree program would have prevented this epidemic of kids without marketable educations being saddled with a lifetime of debt.

exactly. I exchanged ( I thought ) several years of military service literally risking life and limb for a pay-off and wound up getting the big green wienie via a army financial small print screw-up, guess what? I paid them back on my own, all 12k worth. Life is tough, poor me.

 

[Trajan]

Yet your beloved President in his budget seeks to allocate additional funding for student loans.

How do you propose to pay for education?

The same way you pay for food, housing and transportation.....Work for it.

heretic!!

 

[rightwinger]

Personally, I think a college education is a waste of time and money for the vast majority of people. Most would be far better off learning how to operate a business or learning a trade/skill. Then they can afford to study on their own time - for the pleasure of learning or to increase skills. Not because they are told "get a college degree".

We have our young people brainwashed into following an education system that enriches colleges, bankers, and educators and saddles young people with a huge debt. They feel like they need to get a 4 year degree right after high school to compete for jobs. Why? There is value in going out and working for a few years. Or working while you go to college. Pay as you go! You can get a degree at any age or stage of life. I still attend college classes every year- education is a never ending pursuit for me, not some linear path with a start and end.


We have a bubble in education. It is going to pop like any other bubble....

I agree

Not all kids are college material and not all degrees are worth the money To spend $100k for a degree that will pay you $35k does not show good math skills.

 

[rightwinger]

How do you propose to pay for education?

The same way you pay for food, housing and transportation.....Work for it.

heretic!!

Great idea....I like it

You want an education at $40k a year.....get yourself a job at $7.50 an hour. If you can find one

 

[Oddball]

Personally, I think a college education is a waste of time and money for the vast majority of people. Most would be far better off learning how to operate a business or learning a trade/skill. Then they can afford to study on their own time - for the pleasure of learning or to increase skills. Not because they are told "get a college degree".

We have our young people brainwashed into following an education system that enriches colleges, bankers, and educators and saddles young people with a huge debt. They feel like they need to get a 4 year degree right after high school to compete for jobs. Why? There is value in going out and working for a few years. Or working while you go to college. Pay as you go! You can get a degree at any age or stage of life. I still attend college classes every year- education is a never ending pursuit for me, not some linear path with a start and end.


We have a bubble in education. It is going to pop like any other bubble....

I agree

Not all kids are college material and not all degrees are worth the money To spend $100k for a degree that will pay you $35k does not show good math skills.

BTW....Where is all the standard weeping and wailing from you liberoidal types over "price gouging" by Big Education?

 

[Trajan]

The same way you pay for food, housing and transportation.....Work for it.

heretic!!

Great idea....I like it

You want an education at $40k a year.....get yourself a job at $7.50 an hour. If you can find one

dose po' chillens....*sniff sniff*...

 

[Trajan]

Personally, I think a college education is a waste of time and money for the vast majority of people. Most would be far better off learning how to operate a business or learning a trade/skill. Then they can afford to study on their own time - for the pleasure of learning or to increase skills. Not because they are told "get a college degree".

We have our young people brainwashed into following an education system that enriches colleges, bankers, and educators and saddles young people with a huge debt. They feel like they need to get a 4 year degree right after high school to compete for jobs. Why? There is value in going out and working for a few years. Or working while you go to college. Pay as you go! You can get a degree at any age or stage of life. I still attend college classes every year- education is a never ending pursuit for me, not some linear path with a start and end.


We have a bubble in education. It is going to pop like any other bubble....

I agree

Not all kids are college material and not all degrees are worth the money To spend $100k for a degree that will pay you $35k does not show good math skills.

BTW....Where is all the standard weeping and wailing from you liberoidal types over "price gouging" by Big Education?

heretic!! Haaawvord needs dem' grants..

 

[Oddball]

The same way you pay for food, housing and transportation.....Work for it.

heretic!!

Great idea....I like it

You want an education at $40k a year.....get yourself a job at $7.50 an hour. If you can find one

Waaaaawaaaaafucknwaaaa....

When are you going to get equally outraged that colleges charge $40k a year?

 

[boedicca]

Personally, I think a college education is a waste of time and money for the vast majority of people. Most would be far better off learning how to operate a business or learning a trade/skill. Then they can afford to study on their own time - for the pleasure of learning or to increase skills. Not because they are told "get a college degree".

We have our young people brainwashed into following an education system that enriches colleges, bankers, and educators and saddles young people with a huge debt. They feel like they need to get a 4 year degree right after high school to compete for jobs. Why? There is value in going out and working for a few years. Or working while you go to college. Pay as you go! You can get a degree at any age or stage of life. I still attend college classes every year- education is a never ending pursuit for me, not some linear path with a start and end.


We have a bubble in education. It is going to pop like any other bubble....

I agree

Not all kids are college material and not all degrees are worth the money To spend $100k for a degree that will pay you $35k does not show good math skills.

And yet the financial aid offices at many colleges, with the full backing of federal guaranteed loans which students cannot discharge via bankruptcy, talked many gullible kids into taking on such levels of debt for commercially worthless degrees.

That's a prime example of Big Government Cronyism.

 

[syrenn]

The Higher Education Bubble is bursting...and the poor students who've been duped cannot get risk of their debt by declaring bankruptcy.

I need to email my parents and thank them for their sacrifices to ensure that all 6 of their kids got a great education, without being saddled with debt.

Imagine that, parents who can afford the children they have...parents who are willing to work hard to better the lives of their children.

Doing things the good old fashioned way.

 

[syrenn]

The same way you pay for food, housing and transportation.....Work for it.

heretic!!

Great idea....I like it

You want an education at $40k a year.....get yourself a job at $7.50 an hour. If you can find one

What ever happened to the good old days where the parents, working 5 jobs between them, put their kids though school? What ever happened to the days of working days and going to night school to get a degree?

 

[Trajan]

heretic!!

Great idea....I like it

You want an education at $40k a year.....get yourself a job at $7.50 an hour. If you can find one

What ever happened to the good old days where the parents, working 5 jobs between them, put their kids though school? What ever happened to the days of working days and going to night school to get a degree?

thats not allowed anymore you see, the Riiiiicchh will have to pay more so those youngin's can as nancy put it chase their muse on their parents and our dime.

 

[DiamondDave]

the student loan 'financial disaster': By the numbers - the week

the good news: More students are going to college. The bad news: More students are taking out loans to do so. Last june, for the first time ever, americans' student loan debt outstripped their credit card debt. This year, total student loan debt is expected to cross the $1 trillion mark.

$24,000 average amount owed by indebted college students who graduated last year. "default rates are rising, especially among those who attended for-profit colleges," says tamar lewin in the new york times. "in some circles, student debt is known as the anti-dowry."

9% approximate percent of those enrolled in higher education institutions who attend for-profit colleges

6 % percent that college costs have risen, every year, over the past decade. "today's college student can expect to still be paying down loans when their kids go to college,"

yet your beloved president in his budget seeks to allocate additional funding for student loans.

how do you propose to pay for education?

fucking work!!!!!

 

[rightwinger]

heretic!!

Great idea....I like it

You want an education at $40k a year.....get yourself a job at $7.50 an hour. If you can find one

dose po' chillens....*sniff sniff*...

Yes...education should only go to those with the most to spend. There is always menial labor for those who can't