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You nailed it on the head --- take a kid fresh out of high school in 2003 and tell him to invest 100,000 in Google stock instead of going to college and see how much he has in the bank today in 2014 --- versus a useless 4-yr. degree that will take him 25+ years to pay off.
OK. And if they would have invested 100,000 USD in GM, they'd have $0.
So, they'd either be $100,000 poorer, with nothing to show it
Or, they'd be $100,000 poorer, with the ability to earn $1,000,000 over their lifetime vs. the kid who lost all their money on GM.
Tuition prices would change drastically if consumer protections were restored to student loans.
Not really because the schools wouldn't be hurt by a student filing for bankruptcy; they would have already received their money. The taxpayer would be the one who loses out. Tuition prices would drop if the federal government lowered the cap on student loans.
What is sad is how students want to attend these universities with 20k students and never get any special attention.....especially for gen ed classes!
Also what is sad is how most young gullable students are told there art history major will land them a job. Or how taking out a student loan has no consequences because they will have a degree and it will open doors. Or how they don't tell any student that taking out a loan they can't get rid of their debt....ever!
The federal government has required entrance and exit counseling when taking out federal loans for a few years now. Any student who is stupid enough to not know that student loans can't be discharged through bankruptcy after going through the counseling probably shouldn't be in college in the first place.
I always 'love' these degree bickering and posturing threads, how this degree and that degree sucks, so on and so forth.
I get it, some degrees are probably more marketable than others.
I realize mine's isn't worth much to employers if I had just graduated fresh out of college as a 22 year old.
I realize other more technical degrees are consistently ranked highly in employment and salary rates like engineering and math degrees. I know how hard it is to get those degrees, so I have no problems with people that get them and get rewarded for it.
And I could care less if people rip on my major. Yes I know it's not much but it is what it is, I'm not going to get butt hurt over the jibes. If my circumstances were more ideal, sure, I would have liked to have gotten a degree in a more useful and marketable major. But at this stage of my life I just needed that paper, not that any of my previous employers really cared that much about it.
I always 'love' these degree bickering and posturing threads, how this degree and that degree sucks, so on and so forth.
I get it, some degrees are probably more marketable than others.
I realize mine's isn't worth much to employers if I had just graduated fresh out of college as a 22 year old.
I realize other more technical degrees are consistently ranked highly in employment and salary rates like engineering and math degrees. I know how hard it is to get those degrees, so I have no problems with people that get them and get rewarded for it.
And I could care less if people rip on my major. Yes I know it's not much but it is what it is, I'm not going to get butt hurt over the jibes. If my circumstances were more ideal, sure, I would have liked to have gotten a degree in a more useful and marketable major. But at this stage of my life I just needed that paper, not that any of my previous employers really cared that much about it.
Are you for or against it? Does it make sense to you?
The federal government has required entrance and exit counseling when taking out federal loans for a few years now. Any student who is stupid enough to not know that student loans can't be discharged through bankruptcy after going through the counseling probably shouldn't be in college in the first place.
There are tons of students that have no idea student loans can't be discharged and they certainly aren't told by the lenders, the financial aid office, or there counselor. And yet default rates continue to rise. Have you ever seen an entrance or exit counseling? You go online, read some questions, and click a few boxes.
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