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Old 06-09-2011, 02:55 PM
 
1,150 posts, read 1,431,585 times
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Universities every year deceive 18 year olds into taking out student loans for a degree that will likely allow them to work at Starbucks. For example, a kid goes to a large university to be an elementary teacher. Universities are still selling the "elementary teacher shortage" bull sh*%. 18 year old kids eat it up thinking they are going into a shortage field and a job will be there for them when they graduate. In Indiana, there are several universities that are constantly pumping out new elementary education grads. These new grads will most likely never find a job in the elementary education field anyway. One person I know from my graduating class is unemployed with student loans and nothing to show for it. Another is working at the Olive Garden. Many never found jobs.

That being said, colleges deceive people all the time into taking out large loans to be paid back on a Starbucks salary. Banks also deceived people into taking out loans they couldn't afford to pay back. I would hope the adult would have more common sense than the 18 year old, but that isn't the case. Yet, it is okay for the university to continue to deceive kids and make money, but if the bank turns a profit, they are evil.

College tuition costs are rising far faster than health care costs. Four year universities are terribly overpriced when a community college can do the same job at half the price. Well anyway, health insurance companies are considered evil when they want to make money, but is okay for the universities to overcharge kids for an education. Many of these kids are deceived into thinking college is a ticket out of poverty so they are willing to pay and take on more debt.

People complain about oil companies and coal companies making money and talk about how we need to put them out of business. They complain about the pollution and how we are all going to die. As an unemployed person with student loans I struggle to pay back, I often wish for death because life is miserable. Yet again, for profit schools charge students $35,000-$40,000 per year, but all I hear is silence.

At least I have gotten something out of oil companies(gas for my car), coal companies(cheap electricity to keep me cool in this heat), health insurance companies(health care), and banks(they hold onto what little money I have). My college degree got me NOTHING.
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Old 06-09-2011, 02:59 PM
 
Location: Dallas, TX
31,777 posts, read 24,898,183 times
Reputation: 12178
America's higher education system is as much a disaster as any of those you mention, if not worse (perhaps second only to the thirst for oil). The universities are a first major step towards building "credit history"... the American dream.
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Old 06-09-2011, 03:02 PM
Status: "Summer!" (set 19 days ago)
 
Location: Foot of the Rockies
87,006 posts, read 102,592,596 times
Reputation: 33059
Most universities are non-profit. Most insurance companies and banks are for-profit. This is an odd comparison.
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Old 06-09-2011, 03:05 PM
 
40,114 posts, read 24,358,043 times
Reputation: 12624
It's an interesting question, but which universities are you discussing? Most of the universities I'm familiar with, public or private, are not all that profitable. While some schools do have impressive endowments, many schools struggle to meet their expenditures. So, before comparing them to banks and insurance companies, do you have any specific examples or figures?
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Old 06-09-2011, 03:07 PM
 
Location: Austin
29,546 posts, read 16,487,525 times
Reputation: 8087
Why is it okay for large universities to make profits but not okay for health insurance companies, banks, etc.

It's OK with me for any company to make any amount of money they can as long as it legal. Why do you care what they make?
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Old 06-09-2011, 06:08 PM
 
Location: London, U.K.
2,877 posts, read 3,301,566 times
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Its not ok, ok?
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Old 06-09-2011, 06:17 PM
 
3,277 posts, read 4,615,585 times
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Most universities are non-profit. In fact, the for-profit ones come under heavy criticism.

In Switzerland, their totally private health insurance system is non-profit up to a certain point. They make their money selling extras.
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Old 06-09-2011, 06:23 PM
 
20,976 posts, read 16,265,689 times
Reputation: 10270
I've often wondered why the left complain about "big oil", "big insurance", "big business", etc.

They NEVER complain about "big university".

The number one reason for our future economic woes is going to be student debt.

I guess they have double standards.
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Old 06-09-2011, 06:27 PM
 
Location: Bay Area, CA
29,041 posts, read 45,029,897 times
Reputation: 20425
College/post-grad graduate here, with no student loans and a cushy (although not high-paying) professional job... well worth the time & money spent, IMO. I keep hearing about college graduates working for minimum wage, but I really don't see it happen that often - maybe one person I can think of, who worked at a flower shop for about a year before finding a corporate position. And while it obviously helps that I went on to graduate school, even the 4-year grads I know have decent jobs.

That being said, most universities are non-profit institutions, as the others already mentioned. So how this is related to banks?
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