U.S. CitiesCity-Data Forum Index
Covid-19 Information Page
Go Back   City-Data Forum > General Forums > Economics
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 03-24-2013, 09:40 AM
 
20,194 posts, read 21,641,479 times
Reputation: 9240

Advertisements

There is no such thing as as a student loan bubble.... There are people who don't want to pay their bills.... It gets in the way of their entertainment...
Rate this post positively Reply With Quote Quick reply to this message

 
Old 03-24-2013, 12:06 PM
 
48,508 posts, read 88,939,155 times
Reputation: 18195
I think what we see is that happening. too mnay deciding they are not college material at elast in degrees that pay for themselves. It actaully has driven up college degree prices alot. Saw the other day that its at 400% increase far beyond what even houses appreciated at same time.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 03-24-2013, 07:49 PM
 
Location: Wisconsin
7,214 posts, read 8,504,868 times
Reputation: 7775
Quote:
Originally Posted by evilnewbie View Post
There is no such thing as as a student loan bubble.... There are people who don't want to pay their bills.... It gets in the way of their entertainment...
I think there are many young people who would love to pay off their student loans, but simply can't. It has nothing to do with the over used "entitlement" buzz word.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 03-25-2013, 09:12 AM
 
Location: Beavercreek, OH
2,194 posts, read 3,387,872 times
Reputation: 2343
Quote:
Originally Posted by MaseMan View Post
I think there are many young people who would love to pay off their student loans, but simply can't. It has nothing to do with the over used "entitlement" buzz word.
Hi MaseMan--

^^This.

Are there people who suffer from the entitlement mentality? Sure, they're the ones that are sitting at home on their parent's couch, not doing anything about it. I know a few of these types, and some of them are approaching 30 and still haven't gotten it together.

But the majority of people I know are trying to get ahead - even if it means making $8 an hour as a barista with their college degree. They probably live at home too, although less out of lack of motivation and more out of lack of money. The good paying jobs that everyone was promised simply aren't there, and everybody went to college on the mistaken belief that it would be a worthwhile investment.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 03-25-2013, 06:15 PM
 
47,531 posts, read 63,895,470 times
Reputation: 22345
We'll see the national debt rise -- the government will bail them out. A student graduating with $80,000 in debt and no work ethic that would allow him to work just any lowly job just has to claim some kind of disability like ADD, ADHD, or work-anxiety and won't need to worry about work.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 03-25-2013, 11:03 PM
 
48,508 posts, read 88,939,155 times
Reputation: 18195
Quote:
Originally Posted by NJBest View Post
Higher education would be worthless.
Unemployment rates would be MUCH higher.
Banks would be writing off significant amounts of student loan debts.
Loans would tighten up.
Less people would be able to afford higher education.
Higher education will regain it's value as the number of college graduates drop (Over a 25 year period or so).
We will put a man on the moon.

That's what it would look like. But that's not going to happen since there are safeguards that protect student loans.
Why wouold higher education be worhtless when it would be servely restrict has to who could afford it? Don't you mean to say that colleges would suffer funding drop that is severe.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 03-26-2013, 11:15 AM
 
129 posts, read 227,387 times
Reputation: 144
It seems some folk here are severely out of touch with reality.

16 years ago, when I was starting high school, we were told "Go to college or else you'll wind up working at fast food chains, call centers and the like!" ... So we went to college. I was smart enough to get a MS Computer Science degree while others of my friends went into things like Pharmacy, Law School and Math. Those derided liberal arts degrees, right? Oh wait ... These people ARE working at call centers, postal service and insurance companies.

This bubble exists and it has nothing to do with people not wanting to pay back their student loans. They would love to have the jobs they were told existed in high school and pay back their loans, but those jobs just don't exist.

From the American Bar Association itself:
Law School by the Numbers: 300K Additional Law Grads by 2020; 73K New Jobs Forecast for Decade - ABA Journal

There is a second half to this bubble which we are starting to see come to a head. Hundreds of new college programs have opened in the last two decades to support the huge supply of high school graduates who have been told they must go to college. This supply of high school grads is even higher than before because, "No Student Left Behind" or in other words, nobody fails. It doesn't matter what your grades are to get into any old community college either. You just need to pony up the cash.

So the lower ranking students go to Community College and get a degree that is near worthless, because the people who went to good schools can't find a good job and are already taking the jobs at Starbucks.

It kills me when someone responds to this "Well I went to college and I got a good job, so it must not be the economy." Yes, there are still some new jobs every day, but it is nowhere near the supply of graduates.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 03-26-2013, 08:27 PM
 
Location: Metro Detroit, Michigan
18,281 posts, read 16,698,027 times
Reputation: 18300
Quote:
Originally Posted by lovethehighcountry View Post
It kills me when someone responds to this "Well I went to college and I got a good job, so it must not be the economy." Yes, there are still some new jobs every day, but it is nowhere near the supply of graduates.
Makes ya wonder how society will react as a whole when they realize 26K is about the average persona income in the nation, and even some grads are not immune... Crap, there are college grads who would love that kind of pay.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 03-27-2013, 10:10 AM
 
19,346 posts, read 17,050,277 times
Reputation: 7519
Who will speculatively hold their education off the market ?

Its a rhetorical question that answers not much, other than looser money.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 03-27-2013, 10:21 AM
 
Location: DFW
6,879 posts, read 12,838,056 times
Reputation: 5320
College students and graduates fleeing the US en masse to escape their student loans.. an entire generation emigrating overseas.

Then the government sets up checkpoints closing the US border, prohibiting exit to any with student loans.
Rate this post positively Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Economics

All times are GMT -6.

© 2005-2021, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top