Student Debt approaches $1 trillion

[Oddball]

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

Well, what have you done to make it any less expensive?

Where's your outrage over the "price gouging" by academia?

 

[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

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?

I worked my way through four years of college working summers at minimum wage ($2.15 an hour).
Now, you can't come close

A result of escalating college costs and stagnant wages. Education is moving out of the reach of the middle class

 

[rightwinger]

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

Well, what have you done to make it any less expensive?

Where's your outrage over the "price gouging" by academia?

Education costs have escalated well over the rise in the standard of living. Along with health care costs, I think it is a major crisis for working Americans

 

[Oddball]

Yet, we never hear about "price gouging" by academe.

Doesn't that make you the least bit curious?

 

[KissMy]

Government standing behind Sallie Mae has created a student loan bubble the same way they did standing behind Fannie & Freddie home loans.

Just as the home loan bubble drove houses beyond what purchasers could afford, the student loan bubble has driven college tuition levels beyond what students can afford. The education is overpriced. In most cases the education will not increase the salaries enough to pay for itself. The government has blown up the entire education system just like they did the housing market.

But hey it is so worth it to have the sales clerk at the Macy's cash register with a $75,000 marketing degree who earns a whopping $8.25 an hour after 3 years. With that awesome college degree premium she earns a whole 50 cents an hour over minimum wage. Using just that extra 50 cents per hour college degree premium, how long will it take her to pay back that $75,000 student loan? Wouldn't everyone have been better off if she earned minimum wage for the 4 years she took off to go to college.

Maybe college professors would have to actually teach students something useful that would actually increase their students earnings making it worth the students time & money to sit through their boring lectures. This way government would not have to subsidize student loans & these worthless socialist professors with our tax dollars.

 

[DiamondDave]

Prices of DeLoreans have skyrocketed too.. government don't owe me that.... Titty bar cover charges have skyrocketed.. government don't owe me that... and whether my wage has stagnated or increased... it's nobody's responsibility but my own to obtain my wants (higher education is neither a need, nor a right)...

Maybe a bit of humbling and a bit of hard work would make more college students appreciate it more, and appreciate the average worker a bit more and stop with their holier than though bullshit we see oh so often

 

[Gadawg73]

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?

Work.

 

[uscitizen]

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,"

they will not have any trouble paying it back with all the great jobs the tax cuts are making.

 

[Gadawg73]

This is the problem that the government will not stop:
A veteran or anyone wants to go get a trade skill job.
The community college teaches the course for $3500 for 18 months.
The private "college" teaches it for $14,000.00
BOTH can be paid for by student loans.
Anyone that supports the current student loan program is not very bright. Having just graduated 2 children and been around this system for the last 7 years let me tell you it is RAMPANT WITH FRAUD.
NO ONE VERIFIES A DAMN THING and kids get grants, go to school for a year, party and drop out.
HUNDREDS OF MILLIONS OF TAX PAYER DOLLARS DOWN THE DRAIN.
Total waste of taxpayer $$$ for 80%+ of the kids that get $$$.
Keep it for the other 20% that truly need it, fire 80% of college financial aid employees that are the root of the fraud and move forward.
And watch tuition stay stagnant for 10 years as a result of it.

 

[California Girl]

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

Well, what have you done to make it any less expensive?

Where's your outrage over the "price gouging" by academia?

Education costs have escalated well over the rise in the standard of living. Along with health care costs, I think it is a major crisis for working Americans

Well, then, be 'outraged' at the education sector. You just said their costs are escalating - where is your outrage at them? They are no better than this 'big business' or 'rich people'. Go after them, don't whine at the rest of us.

 

[rightwinger]

Well, what have you done to make it any less expensive?

Where's your outrage over the "price gouging" by academia?

Education costs have escalated well over the rise in the standard of living. Along with health care costs, I think it is a major crisis for working Americans

Well, then, be 'outraged' at the education sector. You just said their costs are escalating - where is your outrage at them? They are no better than this 'big business' or 'rich people'. Go after them, don't whine at the rest of us.

Damn it!

I am outraged at the education sector......Happy now?

 

[Epsilon Delta]

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

Well, what have you done to make it any less expensive?

Where's your outrage over the "price gouging" by academia?

It IS pretty outrageous, and yet almost purely an American problem.

You will not find a Canadian paying above $5,500 for a University education. The Quebecois would go up in arms over tuition raises - they only pay $2,200 a year for college (now THAT is outrageous)!! A New Yorker, Washingtonian, or Michiganite who wants to go to a crap in-state school will pay basically the same as if they went to world-class Universities like McGill, UBC, or UoT barely 100 miles away on the other side of the border. Don't get me wrong, it's not like Canadian university education is super-great, but it's definitely bang for your buck.

In most of Europe, school is free. And yes, some places in Europe are going like the toilet like Portugal or Greece, but how can the Germans and the Swedes manage to keep education free for their people, but the United States can't? Even poor-ass places like Argentina manage to keep university mostly free. Why is that? I mean, it's one thing when you're talking about Harvard or UPenn or Yale... I mean, you can still probably end up paying your $50K a year debt if you go to one of those places, but even totally no-name schools in Middle of Nowhere, America manage to get away charging those sort of ridiculous rates, and even in crap state schools you end up paying $20K a year. It's outrageous!!

Any which way, I'm no nutcase, I don't propose that University should be free. Not everybody needs college degree. I don't think people should expect to have a right to an MBA. A degree costs money and that should be reflected, you should expect to give something in return for an education. But just as I think going into rebellion over $2,200 tuition in Quebec is totally outrageous, paying $40-50 even $60K a year is ridiculous, and I certainly could not have afforded it, and would've never made that money back. We're talking about almost a quarter of a million bucks total!! There has to be some semblance of balance. And of course that "Big Academia" plays a role in this price inflation in all sorts of mischievous ways. Universities aren't innocent players in this game.

 

[Skull Pilot]

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

And the cost of setting up a government agency to handle student loans was less than that 2%?

I highly doubt that.

 

[Skull Pilot]

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

If you take a couple classes at a time all year round you can get a degree in 5 years and not pay anything near 40K a year.

Anything else you want to tell us we can't do?

 

[iamwhatiseem]

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?

You wouldn't like the answer...your liberal brain might explode.

 

[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

If you take a couple classes at a time all year round you can get a degree in 5 years and not pay anything near 40K a year.

Anything else you want to tell us we can't do?

I see you did not major in Math

 

[Skull Pilot]

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

If you take a couple classes at a time all year round you can get a degree in 5 years and not pay anything near 40K a year.

Anything else you want to tell us we can't do?

I see you did not major in Math

No but i got one of my degrees doing exactly what I suggested and it cost me less than the tuition I would have paid going full time.

At UMass one needs 60 credits to get a degree in say computer science the costs per credit is $72

60 x 72 = 4320.

Even with fees the cost is nowhere near 40K a year.

You don't have to major in math to figure that out.

 

[rightwinger]

If you take a couple classes at a time all year round you can get a degree in 5 years and not pay anything near 40K a year.

Anything else you want to tell us we can't do?

I see you did not major in Math

No but i got one of my degrees doing exactly what I suggested and it cost me less than the tuition I would have paid going full time.

At UMass one needs 60 credits to get a degree in say computer science the costs per credit is $72

60 x 72 = 4320.

Even with fees the cost is nowhere near 40K a year.

You don't have to major in math to figure that out.

Great deal.....community colleges are cheap also

The problem is that as education becomes more expensive, students flock to the lower cost state schools and I know of very few where you can get a four year degree for $4300


http://www.umass.edu/admissions/financing/

Doesn't look like $72 a credit

 

[hipeter924]

I see you did not major in Math

No but i got one of my degrees doing exactly what I suggested and it cost me less than the tuition I would have paid going full time.

At UMass one needs 60 credits to get a degree in say computer science the costs per credit is $72

60 x 72 = 4320.

Even with fees the cost is nowhere near 40K a year.

You don't have to major in math to figure that out.

Great deal.....community colleges are cheap also

The problem is that as education becomes more expensive, students flock to the lower cost state schools and I know of very few where you can get a four year degree for $4300


UMass Amherst: Undergraduate Admissions - Financial Aid

Doesn't look like $72 a credit

It's a good argument against the university system, massive class sizes, lower pass rates and high fees. We had 'free education' here until the Chicago School economists got their hands on it, now it costs $4500 just for 2 courses, and the student debt is through the roof, before it was sustainable.

 

[Provocateur]

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,"

Don't worry your pretty little head. Most scholarships are needs based as opposed to merit based anymore assuring that those people with irresponsible parents that didn't save/plan for college have to pay less.

Does this make you feel better in some small way?