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.
The topic has been undergrad loans. 100k in med school loans is no big deal if you make 150k.
But $80K due to 4 years at a private, out of state college with a degree in "women's studies" ?
That was a choice to get into that much debt.
2 years at the CC and then 2 years at the local university if you have to rely on loans to get that degree.
That was my niece and now she's a receptionist at a daycare center paying of that $80K.
But $80K due to 4 years at a private, out of state college with a degree in "women's studies" ?
That was a choice to get into that much debt.
2 years at the CC and then 2 years at the local university if you have to rely on loans to get that degree.
That was my niece and now she's a receptionist at a daycare center paying of that $80K.
She totally regrets doing it.
That is awful but most people are not that foolish with school loans.
That is awful but most people are not that foolish with school loans.
I don't think it is 'most', but a significant percentage based on what I have seen in my circles of family and friends.
I came out of school $21k in debt. My brother had double the debt five years later. My mother has triple to quadruple my original debt coming out just now. We all have friends that are like the in for $80k receptionist in the PP. No, not the majority, but a significant minority. In large enough numbers, their problems become your problems as illustrated in the article.
But $80K due to 4 years at a private, out of state college with a degree in "women's studies" ?
That was a choice to get into that much debt.
2 years at the CC and then 2 years at the local university if you have to rely on loans to get that degree.
That was my niece and now she's a receptionist at a daycare center paying of that $80K.
She totally regrets doing it.
I'd see that train wreck coming before she enrolled. My niece made a foolish choice transferring to an expensive college w/o a good ROI given average incomes in the field (I told her it was dumb), but thankfully, it did not work out for her within 1 year, she switched to a good university, state run, into a growing field, so her foolishness cost her 30k in loans (1 year). The other years combined will leave her with under 10k in loans.
In both of our neices' cases, they need to fully pay for THEIR personal mistakes.
I don't think it is 'most', but a significant percentage based on what I have seen in my circles of family and friends.
I came out of school $21k in debt. My brother had double the debt five years later. My mother has triple to quadruple my original debt coming out just now. We all have friends that are like the in for $80k receptionist in the PP. No, not the majority, but a significant minority. In large enough numbers, their problems become your problems as illustrated in the article.
It is more of a problem because more kids are going to college that should not. You could eliminate all for profits and there would be no negative impact.
It is more of a problem because more kids are going to college that should not. You could eliminate all for profits and there would be no negative impact.
I'd like that, and at the very least, I would not allow loans for the kids choosing them, in excess of the sum of their local state university's in-state tuition, room, and board.
Universities need to assume some liability. It's a risk-free business.
If their graduates cannot find gainful employment in the field of study within 3 months, the uni should eat the tuition. These colleges need some skin in the game.. it's getting absurd.
Awful lot of trade jobs that need to be filled round these parts. A news station in Michigan just advertised that a local company needed CNC operators with set up experience. $21/hr to start, more than many college grad jobs are paying. The company attempted to fill the position through normal channels for a couple months, continuously coming up dry. If that company is paying $21/hr for kids to set up equipment, I can only imagine what they are paying their actual machinists. Does anyone even know what a machinist is anymore?
Heck, I've been picking up part time hours with an HVAC company that came through our shop a couple weeks back. Overheard them saying they need some help on some jobs but couldn't get the workers. "Can you fabricate sheet metal?" Thankfully, my 3 years of trade school was paid for by the state, so I wasn't saddled with any debt coming out. Of course, local governments haven't been making the smartest decisions lately so that program, and many like it were closed down around 2006. The message was, we don't need people to perform skilled labor, and how wrong they were...
Universities need to assume some liability. It's a risk-free business.
If their graduates cannot find gainful employment in the field of study within 3 months, the uni should eat the tuition. These colleges need some skin in the game.. it's getting absurd.
No one is required to go to school. Many top schools charge half of what they could as they turn away 50% + of kids that apply.
No one is required to go to school. Many top schools charge half of what they could as they turn away 50% + of kids that apply.
No one is "required" to buy food, either. Or to ever leave their house. Or to brush their teeth.
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.
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.
