The monster of student debt.

[Woodznutz]

Student debt is huge, but how big a part of private debt is it. The figure is staggering.

One-third of unsecured private debt in the U.S. is student debt.

Overall private debt: $18Trillion.
Debt secured/collateralized: $12.6Trillion.'
Unsecured debt: $5.4Trillion.
Student debt: $1.7Trillion.
Percent of student debt to unsecured debt: 31.3 percent.

Total household debt by type

A column chart showing household debt by type.

www.fool.com

Student Loan Debt Statistics: Average Student Loan Debt

The cost of college has steadily increased over the last 30 years. In that timeframe, tuition costs at public four-year colleges grew from $4,160 to $10,740 and from $19,360 to $38,070 at private nonprofit institutions (adjusted for inflation). As costs have risen, so has the need for student loans

www.forbes.com

 

[Blaster]

More kids should learn a skill and not worry about being in debt.

 

[Woodznutz]

More kids should learn a skill and not worry about being in debt.

The colleges want kids right out of high school, before they choose to go into the trades or workforce. They begin recruiting and making promises to kids before they even graduate. They purposely denigrate blue collar work as unworthy of them.

 

[Blaster]

Blue collar workers are happier than white collar workers according to a national study.

 

[Polishprince]

The real problem with Student Debt is that it is issued indiscriminately regardless of the creditworthiness of the borrower, or their ability to pay it back.

And why should lenders even care about that? They get a tremendous fee for originating the loan, and it the borrower turns out to be a Deadbeat, the taxpayers are on the hook for it.

No one loses except for John Q Twelvepack who gets stuck with paying it back on April 15.

 

[The Sage of Main Street]

The colleges want kids right out of high school, before they choose to go into the trades or workforce. They begin recruiting and making promises to kids before they even graduate. They purposely denigrate blue collar work as unworthy of them.

Who Benefits from Ignoring Superiority?

Don't be generic. Only people with talent in the trades should learn one. Only people with talent in school should go to college. Both should be paid while they learn, paid more than they can expect at an active job.
Otherwise, the system is unmotivating. It's not enough to abolish tuition

 

[The Sage of Main Street]

Blue collar workers are happier than white collar workers according to a national study.

College Is for Coolies. Graduates Should Wear Ponytails.

Four years of working without pay in college psychologically must lead to a permanently depressed personality. The reward is not worth the sacrifice, nor is it earned. Americans, who are never told how they benefit from happy graduates, are led to believe that anyone who gets a reward must be punished first.

 

[Woodznutz]

Who Benefits from Ignoring Superiority?

Don't be generic. Only people with talent in the trades should learn one. Only people with talent in school should go to college. Both should be paid while they learn, paid more than they can expect at an active job.
Otherwise, the system is unmotivating. It's not enough to abolish tuition

College Is for Coolies. Graduates Should Wear Ponytails

Four years of working without pay in college psychologically must lead to a permanently depressed personality. The reward is not worth the sacrifice, nor is it earned. Americans, who are never told how they benefit from happy graduates, are led to believe that anyone who gets a reward must be punished first.

College has been the ruin of many, thanks to the student loan program. Worse yet, many who drop out are forever ruined for blue collar work.

 

[The Sage of Main Street]

No one loses except for John Q Twelvepack who gets stuck with paying it back on April 15.

Monopolists' Monster

Why should he get stuck with it, instead of demanding that the Preppies pay out of their trust funds? The RichKid Reich's Daddies make sure they never have to pay off student loans.

Don't be so sneaky, pretending that we can't do anything about who pays for this birthclass-biased debt. Posters do that all the time. Just because a totalitarian government decides the innocent are charged and the guilty aren't even mentioned is no reason to pretend that's the way it has to be.

 

[Woodznutz]

Monopolists' Monster

Why should he get stuck with it, instead of demanding that the Preppies pay out of their trust funds? The RichKid Reich's Daddies make sure they never have to pay off student loans.

Don't be so sneaky, pretending that we can't do anything about who pays for this birthclass-biased debt. Posters do that all the time. Just because a totalitarian government decides the innocent are charged and the guilty aren't even mentioned is no reason to pretend that's the way it has to be.

The rich kids aren't the problem. Women and minorities are.

A Demographic Look at Who Has Student Loan Debt

LendingTree researchers looked at who has student loan debt and which demographics are most impacted.

www.lendingtree.com

 

[80zephyr]

The real problem with Student Debt is that it is issued indiscriminately regardless of the creditworthiness of the borrower, or their ability to pay it back.

And why should lenders even care about that? They get a tremendous fee for originating the loan, and it the borrower turns out to be a Deadbeat, the taxpayers are on the hook for it.

No one loses except for John Q Twelvepack who gets stuck with paying it back on April 15.

Not true. Education debt is not dischargable in bankruptcy. The borrower is on the hook while the meter keeps running, at a high interest rate.

 

[Polishprince]

Not true. Education debt is not dischargable in bankruptcy. The borrower is on the hook while the meter keeps running, at a high interest rate.

The loans are discharged at the time of the debtors' death, if they haven't been paid

 

[Woodznutz]

The loans are discharged at the time of the debtors' death, if they haven't been paid

Helluva way to get out of debt.

 

[Moonglow]

College Is for Coolies. Graduates Should Wear Ponytails.

Four years of working without pay in college psychologically must lead to a permanently depressed personality. The reward is not worth the sacrifice, nor is it earned. Americans, who are never told how they benefit from happy graduates, are led to believe that anyone who gets a reward must be punished first.

I still have that ponytail at 63

 

[Moonglow]

Helluva way to get out of debt.

It is the only way I know people get debt-free.

 

[Woodznutz]

It is the only way I know people get debt-free.

Or asset free.

 

[Woodznutz]

I still have that ponytail at 63

The only ponytail I ever had was attached to a pony (horse really).

 

[Moonglow]

The only ponytail I ever had was attached to a pony (horse really).

You should grow a rat tail.

 

[Moonglow]

The loans are discharged at the time of the debtors' death, if they haven't been paid

Mine was discharged by Biden.

 

[Woodznutz]

You should grow a rat tail.

I'm actually wearing my hair shorter. I'm too old for longer hair.