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I have 2 nieces with high debt. Both went to out of state private colleges.
And my SIL helped them do all the paperwork for loans.
Neither got jobs in their field. Both are underemployed.
Both have gone "back home" because they couldn't afford loan payments + life expenses.
How are they "victims" ?
I don't support the system.
My son is going to college with NO LOANS.
Granted it's at a slower pace but in this economy why rush to get a degree in a bad job market ?
Which CEO loves me ? Uncle Sam..owner of all these student loans ?
You see I don't believe in "feeding the beast" to keep this rigged system going.
I'm smart enough to not get caught up in the easy money, high debt game.
Those that do willingly are only victims of their own doing.
That's a good question. I would like to know why they think these aren't institutional problems.
When easy money is provided prices will go up.
Get rid of student loans and college costs will come down.
Why ? Because if people cannot afford to pay for college they will stop going. Stop going and colleges will have to lay off staff and possibly shut their doors.
Access to easy money has been the root of all of our bubbles that eventually burst leaving many in high debt situations.
How are they "victims" ?
I don't support the system.
My son is going to college with NO LOANS. Granted it's at a slower pace but in this economy why rush to get a degree in a bad job market ?
Which CEO loves me ? Uncle Sam..owner of all these student loans ?
You see I don't believe in "feeding the beast" to keep this rigged system going.
I'm smart enough to not get caught up in the easy money, high debt game.
Those that do willingly are only victims of their own doing.
Job market is relative. Sure the job market is probably terrible if you're a marketing major, art major, lawyer, etc. Now for most of STEM and healthcare that's a different story, plenty of jobs there as long as you work hard.
While I agree that there are problems with college being too costly and loans, I think more of a problem is that people aren't always majoring in something practical. People need to realize that the days are over when you can get a bachelor's anything and be guaranteed a job. If you go to an expensive, private school and major in English Literature then surely you'll have trouble paying debt. If you go to the same school and get your degree in software engineering or pharmacy, then you'll be able to pay off that debt.
How are they "victims" ?
I don't support the system.
My son is going to college with NO LOANS.
Granted it's at a slower pace but in this economy why rush to get a degree in a bad job market ?
Which CEO loves me ? Uncle Sam..owner of all these student loans ?
You see I don't believe in "feeding the beast" to keep this rigged system going.
I'm smart enough to not get caught up in the easy money, high debt game.
Those that do willingly are only victims of their own doing.
I hear you, but there is a philosophical issue here. There is a system in place that is creating enormous debt for the young people with college aspirations who will find no jobs once they graduate. Something will have to give sooner or later.
Many folks blame the victim instead of looking at the greater issue. And I agree with you! The thing to do is not to attend this money making institutions. It is a business with crony capitalism!
Get rid of student loans and college costs will come down.
Why ? Because if people cannot afford to pay for college they will stop going. Stop going and colleges will have to lay off staff and possibly shut their doors.
Access to easy money has been the root of all of our bubbles that eventually burst leaving many in high debt situations.
But we don't learn, do we ?
How about: when public investment decreases, tuition fees go up as students have to cover the cost?The Canadian government lends loans to students yet tuition rates aren't climbing due to "easy money". The last time rates increased was when the Conservative Party cut funding to education.
Get rid of student loans and college becomes less accessible.
It seems the prevailing right wing narrative about education is to say that tuition rates are going up so the solution would be to defund education. Then when tuition rates climb even more, due to students having to pay more out of pocket to cover what federal subsidizes used to cover, funding should get cut even more and students should be blamed, and higher unemployments gets met with excitement.
How about: when public investment decreases, tuition fees go up as students have to cover the cost?The Canadian government lends loans to students yet tuition rates aren't climbing due to "easy money". The last time rates increased was when the Conservative Party cut funding to education.
Get rid of student loans and college becomes less accessible.
It seems the prevailing right wing narrative about education is to say that tuition rates are going up so the solution would be to defund education. Then when tuition rates climb even more, due to students having to pay more out of pocket to cover what federal subsidizes used to cover, funding should get cut even more and students should be blamed, and higher unemployments gets met with excitement.
You can get rid of student loans but what about the existing debt and students struggling to pay?
Those kids CHOOSE to go there... no "CEOs" (?) are twisting their arms.
And I know no kids will spend a lifetime without a computer or cell phone..... cable TV and coffee, perhaps!
But then it's like you're saying we're going there because that is what is currently en vogue. But I have been through s-e-v-e-r-a-l job boards and most of the jobs that are available require a degree or some sort of specialized training. So we are pretty much coerced to attend colleges in order to get a decent job nowadays, unless you get one based on good timing, knowing somebody who knows somebody, or nepotism.
Quote:
Originally Posted by MN-Born-n-Raised
This was an interesting video. Thanks for sharing. I think that their points are about 1/3 true and full of errors. Instead of presenting the pros and cons of college debt (not all debt is created equal), the video has a "conspiracy theory" feel and full of doom-and-gloom ideas. They are trying to "sell" their point of view that college is worthless. This 4 year old video is already way off on its forecasts such as hyper inflation and other doom-and-gloom economic predictions.
That said, I agree that the lower performing college students are not getting their moneys worth and are factually buying into a false hope. I know many students that the lack drive. Many are simply not smart and will be competing with students and personalities that are in a different league. Those students are screwed and is who the video pertains to the most. Yet these students are getting their 4 year degree because they are brainwashed that they should. So the video has some merit. I wish they would have taken a balanced approach.
Thank you for your critique and insight of the video! I didn't think to factor in the date of the video. And you're right, it did seem a little like doom-n-gloom, but I believe the structure of college has to change, and that video was right on that.
I truly believe the years spent in college and higher education could be cut down dramatically. They often force people to take classes that, though relative to their field, are redundant and eventually irrelevant. For instance, for me as a pre-med, I had to take microbiology and statistics and courses like that. But should I get to the medical profession I desire, am I really even gonna need to know how to find the margin of error or conduct a null hypothesis test? In fact, am I even gonna RECALL all of that information years later after I've taken it? That's why they should just focus on the classes you truly need in order to do the job you're seeking, and that would cut a lot of fluff, a lot of years, and therefore a lot of debt not spent on that fluff.
And I agree with the rest of your views, though. I never saw how biased it was.
Quote:
Originally Posted by HappyTexan
How can anyone think to blame CEOs for this is beyond me.
How's about the 18 year old and their parents ?
Did they go into this blind ?
Were they forced to "choose" expensive schools ?
Parents didn't save, kids didn't save ?
No thought to the debt they would have upon graduation ?
Because jobs are so abundant without a degree these days? Though it's true, there must be planning, but should a system even exist where one has to work and save money for years down the road for someone to go to school and get a degree? Shouldn't the system be less cumbersome than that?
Quote:
Originally Posted by HappyTexan
How are they "victims" ?
I don't support the system.
My son is going to college with NO LOANS.
Granted it's at a slower pace but in this economy why rush to get a degree in a bad job market ?
Which CEO loves me ? Uncle Sam..owner of all these student loans ?
You see I don't believe in "feeding the beast" to keep this rigged system going.
I'm smart enough to not get caught up in the easy money, high debt game.
Those that do willingly are only victims of their own doing.
Because you are in a position that a lot of people aren't in makes you say that. Not everyone has your expertise or possibly even resources to fund their children through college with no debt at all.
.
They just can't find work to pay back the loans.
I talked to a woman and she said she went to college to become a lawyer.
Now she has a loan debt of $165,000 and can't get a job with any law firm
because they have cut back on the size of ther firms.
She now teaches school for around $35,000 - $36,000
which makes it hard to pay the money back.
.
In this day and age does the thought you cant afford to go to college ever enter the equation?
If going to college and accumulating a debt load of $150-$200K with no guarantee of a job, doesnt the prospect of thinking college may be out of my price range ever enter the picture?
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I think that their points are about 1/3 true and full of errors. Instead of presenting the pros and cons of college debt (not all debt is created equal), the video has a "conspiracy theory" feel and full of doom-and-gloom ideas. They are trying to "sell" their point of view that college is worthless. This 4 year old video is already way off on its forecasts such as hyper inflation and other doom-and-gloom economic predictions.
