Student debt out of control???

[Katzndogz]

What the college aged are not told is that a liberal arts degree is only useful if there is a post graduate degree to go with it. Sure you can have a degree in Origami, as long as you have one in Molecular Engineering too! What the dolts do is skate around on easy classes racking up degrees in History, Literature, Ethnic Studies, and then wonder how come with all their degrees they can't find a job.

 

[Soggy in NOLA]

What the college aged are not told is that a liberal arts degree is only useful if there is a post graduate degree to go with it. Sure you can have a degree in Origami, as long as you have one in Molecular Engineering too! What the dolts do is skate around on easy classes racking up degrees in History, Literature, Ethnic Studies, and then wonder how come with all their degrees they can't find a job.

Exactly. And the notion that somebody owes you job, regardless of the fact that you are trained in something that there is no demand for, therefore you shouldn't have to pay back your student loans is crazy.

 

[DiamondDave]

It's a reality today that no one can achieve a good job without training beyond high school, and that our economy requires people with this advanced training. This has created an exploding market for college education. Either the government assists lower-income people to attend college, or college becomes exclusively a privilege of the children of the wealthy (and an occasional prodigy who is awarded a scholarship). In the latter case, we lack the trained personnel the economy needs and descend into being a third-world country.

Without government involvement in education, college tuition would be much, much higher, because there would be no such thing as a state school.

In a way, this discussion is not unlike the discussion about universal health care. Those on the right are speaking purely from theory, while those like myself can refer to actual other countries who do things differently than we do, and achieve better results. For example, in France, the tuition cost of a Licence Professionelle (equivalent to our bachelors degree) can be as low as €750 (a little over $1,000), and at a public school never more than €3,500 (around $4,800). Private school costs a lot more, of course. Education, like medical care, should be treated as a basic right.

Are you not an adult? ?Are college students (for the most part) legally adults?? What makes it the responsibility of society or our government to provide your training or education as an adult??

Can you not assume the risk of whatever loan if YOU FEEL IT IS WORTH IT?? Can you not save and go to school later?? Can you not OJT or choose a company with tuition benefits?? Can you not join the military for training?? Can you not advance in another job path and change careers when you are more settled??

Again.. why the fuck do you think, or should anyone else thing, this if fucking OWED to you??

C'mon dragon... wingnut... see you posting again today.. waiting for your answer

 

[asterism]

Nobody forced these would be dead beats to take a loan.

True. They could have ditched the idea of college and just gone to work for McDonalds.

It is possible to get a college degree without taking out loans you know.

Sure, if you have rich, generous parents, or are brilliant enough to get a full scholarship, or have no need to sleep.

None of those are true. It's absolutely possible to get an excellent education while working full time. It leaves little room for dalliance and "semesters at sea," and it's not likely at an Ivy League school.

 

[Soggy in NOLA]

Nobody forced these would be dead beats to take a loan.

True. They could have ditched the idea of college and just gone to work for McDonalds.

It is possible to get a college degree without taking out loans you know.

Sure, if you have rich, generous parents, or are brilliant enough to get a full scholarship, or have no need to sleep.

None of those are true. It's absolutely possible to get an excellent education while working full time. It leaves little room for dalliance and "semesters at sea," and it's not likely at an Ivy League school.

Of course... it took me about six years and paid for my education while working full-time and I only owed about $3k in loans (back in 1988). Finished paying back my loan in 2001... I had a deferment.

It wasn't ideal, but it was the way it was.

 

[asterism]

In 1975, when I started college, in-state tuition at a state university was much less in constant dollars than it is today, and the availability of non-loan financial aid was much greater. Also, the job market was much better (even though in the 1970s it was worse than it had been in the '60s, thanks to the oil problems) so that expectation of a good job awaiting a recent college graduate was more realistic.

These three things are the factors that have caused the problem with student loans today. Not the availability of student loans (without which many students simply couldn't attend school, period), not "the government getting involved" (without which we would have no state colleges or universities and everyone would have to pay private school tuition, which would make the problem even worse).

The percentage of college graduates in the labor force was MUCH lower than it is today which is why a college education (any degree) had more stature. But how many Sociologists do we need? How many History majors do we need in sales?

The problem is that people are choosing fields of study that are not good prospects for financial benefit.

 

[Listening]

None of those are true. It's absolutely possible to get an excellent education while working full time. It leaves little room for dalliance and "semesters at sea," and it's not likely at an Ivy League school.

Didn't Harvard give us Gore and Bush (via Yale) ?

Not that everyone they graduate are morons.

 

[Avorysuds]

I think that all money I make, invest or debt I have should be written off.... Hell if a kid can write off 100k in college debt "just because" why stop there right? Or are we back to buying votes and picking winners and losers?

Oh, the Government should give me all the loans I need no questions asked for amazingly low rates and if I don’t pay the loan back in 30 years they just wipe it off the books.

Maybe you guys need to look at college not as a right or some crap, but as a personal choice that has consequences and bonuses... The schooling bubble is 100% made by Government, just like the housing bubble… It literally could not have happened if Go9vernment didn’t supply the money by getting involved, not fucking possible.

 

[Avorysuds]

In 1975, when I started college, in-state tuition at a state university was much less in constant dollars than it is today, and the availability of non-loan financial aid was much greater. Also, the job market was much better (even though in the 1970s it was worse than it had been in the '60s, thanks to the oil problems) so that expectation of a good job awaiting a recent college graduate was more realistic.

These three things are the factors that have caused the problem with student loans today. Not the availability of student loans (without which many students simply couldn't attend school, period), not "the government getting involved" (without which we would have no state colleges or universities and everyone would have to pay private school tuition, which would make the problem even worse).

The percentage of college graduates in the labor force was MUCH lower than it is today which is why a college education (any degree) had more stature. But how many Sociologists do we need? How many History majors do we need in sales?

The problem is that people are choosing fields of study that are not good prospects for financial benefit.

Correct, and it's all made possible by the Government...

If the Government gave people easy money to start a business guess what? There would be tens of thousands of new businesses started all day long... then they would fail and Government would claim "See how we helped create the possibilities!" then claim "See how free markets destroyed your life!" then claim "We need more stimulus/Bail-outs!"

 

[asterism]

In 1975, when I started college, in-state tuition at a state university was much less in constant dollars than it is today, and the availability of non-loan financial aid was much greater. Also, the job market was much better (even though in the 1970s it was worse than it had been in the '60s, thanks to the oil problems) so that expectation of a good job awaiting a recent college graduate was more realistic.

These three things are the factors that have caused the problem with student loans today. Not the availability of student loans (without which many students simply couldn't attend school, period), not "the government getting involved" (without which we would have no state colleges or universities and everyone would have to pay private school tuition, which would make the problem even worse).

The percentage of college graduates in the labor force was MUCH lower than it is today which is why a college education (any degree) had more stature. But how many Sociologists do we need? How many History majors do we need in sales?

The problem is that people are choosing fields of study that are not good prospects for financial benefit.

Correct, and it's all made possible by the Government...

If the Government gave people easy money to start a business guess what? There would be tens of thousands of new businesses started all day long... then they would fail and Government would claim "See how we helped create the possibilities!" then claim "See how free markets destroyed your life!" then claim "We need more stimulus/Bail-outs!"

True. However, I take no issue with government subsidizing loans for advanced education. I think a well educated populace is a public concern that benefits our country. But if one borrows money for it, one must either pay it back or mitigate it in some other way. I see no problem with letting adults make poor choices and then having to live with those consequences.

A Master's in Social Work from Dartmouth just isn't a good financial decision, but I don't want the government to dictate those terms. Otherwise we'll have another set of unintended consequences. These folks just need to learn that almost everyone starts at the bottom and when a degree is a basic requirement in a field of work, that means the degree doesn't do anything but allow a person to start at the bottom.

 

[Listening]

In a way, this discussion is not unlike the discussion about universal health care. Those on the right are speaking purely from theory, while those like myself can refer to actual other countries who do things differently than we do, and achieve better results. For example, in France, the tuition cost of a Licence Professionelle (equivalent to our bachelors degree) can be as low as €750 (a little over $1,000), and at a public school never more than €3,500 (around $4,800). Private school costs a lot more, of course. Education, like medical care, should be treated as a basic right.

I have always enjoyed the term "better results".

And what does France have to show for it's better results.

I don't see that as being to theoretical.

Once again, you give yourself way to much credit.

 

[Cammmpbell]

The entire problem, as several of us obviously agree, is the government getting involved.
When parents and the child themselves are footing the bill - there wouldn't be any of these career students meandering between one class to another.
Hell no.
When my daughter finished her pre-reqs and began her major we had her sit out for a semester, one was to work as many hours as she could get to build up her savings - but more importantly to giver her 6 months to be sure this is what she wants. I have told her numerous times that this is it...no changing her mind now. This is a ton of money we are investing and we cannot spend $17,000 this year and she decides it isn't that fun.
But with the government (as in taxpayers) paying for it - who gives a rats ass right? Hell...who cares if they even graduate?

Yeah and that's what makes this country a lot different than it used to be. People in the old days were nearly all poor or of modest means. They all cared for and helped one another. Now those who are better off look down on those who are poor and less fortunate. I wish all of them(the ones who look down on others) a good, sound case of stomach cancer though I hope their pain isn't totally unbearable.

Yeah.. those evil rich never give to charities or research... ...

Y'know... as I state constantly to the other wingers... where are you owed a goddamn thing as an adult anyway??

I personally don't look down on the poor... I worked my way up from it.... I look down on "gimme gimme gimme" entitlement junkies and socialist principle supporters such as yourself

LMAO!

Walked ten miles to and from school...both ways up hill.

 

[KissMy]

The US Government is already writing down student loan debt. This is another financial disaster.

Bankruptcy Attorneys Report Major Jump in Student Loan Debtors

Nearly two out of five of bankruptcy attorneys (39 percent) have seen potential student loan client cases jump 25-50 percent in the last three-four years. An additional quarter (23 percent) of bankruptcy attorneys have seen such cases jump by 50 percent to more than 100 percent.

Last October President Obama introduced a plan called the “Pay As You Earn” plan that would cap federal student loan payments at 10 percent of the borrowers discretionary income. Any remaining debt would be forgiven after 20 years.

 

[KissMy]

Student loans surpass auto, credit card debt

Americans owe more on their student loans than on their credit cards or car loans, according to a new report from the Federal Reserve Bank of New York.

Report on college loan delinquency rate raises alarms

As many as 1 in 4 borrowers was carrying a past-due student loan balance in the third quarter, a much higher delinquency rate than previously thought, according to the Federal Reserve Bank of New York.

Some experts have called the nation's soaring college debt load a "ticking time bomb" — a looming crisis threatening young adults, their families and the broader economy.

A new report raises even more alarms: It's likely that as many as 1 in 4 borrowers was carrying a past-due student loan balance in the third quarter, the Federal Reserve Bank of New York said Monday.

That's a much higher delinquency rate than previously thought.