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.
"Americans are flooding the government with appeals to have their student loans forgiven on the grounds that schools deceived them with false promises of a well-paying career—part of a growing protest against years of surging college costs."
"Americans are flooding the government with appeals to have their student loans forgiven on the grounds that schools deceived them with false promises of a well-paying career—part of a growing protest against years of surging college costs."
Sorry, but if you aren't qualified to get into a legitimate college, I doubt you are a "prime candidate" for a job once you graduate.
On the otherhand, I don't care what college you went to. If you are an overeducated idiot who lacks communication skills, I don't want you on my team either.
Sorry, but if you aren't qualified to get into a legitimate college, I doubt you are a "prime candidate" for a job once you graduate.
On the otherhand, I don't care what college you went to. If you are an overeducated idiot who lacks communication skills, I don't want you on my team either.
But then what qualifies as a "good" college? Only elites ones like Harvard or Stanford?
But then what qualifies as a "good" college? Only elites ones like Harvard or Stanford?
What about all the state-sponsored colleges then?
Any accredited college is "good" in my book. I attended a "tier 3" state school in West Virginia, but I have never been unemployed and I am 52 years old.
Sorry, but if you aren't qualified to get into a legitimate college, I doubt you are a "prime candidate" for a job once you graduate.
On the otherhand, I don't care what college you went to. If you are an overeducated idiot who lacks communication skills, I don't want you on my team either.
It is a macro vs. micro economic argument. The students are quite rightly saying their aren't enough jobs to go around. (A macro argument.) Your reply is it is your fault that you aren't at the top of the pile. (A micro reply)
The job market sucks and will likely suck for the rest of my life. So take out more debt to get more letters in back of your name so your do better than the other people out there. We've got a global debt bubble. It is going to pop and as it does so new loan underwriting is going to slow way down or stop altogether. Without new loans then there is no new economic growth without that there is no demand for labor. With no demand for labor then there is no demand for new letters in back of your name. The more capable prosper and the less capable suffer. More student debt doesn't change this.
So selling students more debt to get ahead is fraud and their debts should be forgiven.
While I do think that high schools should be suggesting alternatives to traditional college (trade schools, etc), if a student thinks that they will get a job simply by attaining a degree, they are sorely mistaken. This whole generation of people that feel they should have their loans forgiven because they wrongly assumed they would acquire gainful employment upon graduation are getting a real education in common sense now.
When I worked at a bank, I had a guy come in to see if he could get supplemental private student loans to finish up his post- graduate degree. He had already racked up $100K pursuing this degree in....... PHOTOGRAPHY.
I have student loans. They aren't a whole lot because I was prudent about borrowing, and I wish that I had never taken them out. I should have taken a semester off and saved enough money. I didn't even finish college because I didn't want to take out more loans. But yet here I am, gainfully employed at a major company and living within my means, despite not having that blessed degree. Under no circumstances would I ever ask the government or a lender to forgive my loans because MY career/life plans didn't pan out the way I assumed they would. Logic would dictate that if you are able to get into college, you should have enough mental acuity to realize this.
The lack of common sense and personal responsibility in this world is absurd.
What is interesting is that the law apparently doesn't state what exactly constitutes fraud. While for-profit schools are certainly more likely to be guilty of this - they hire salesman instead of counselors, for example - traditional colleges are not above skewing the facts to recruit new students, and individual departments are definitely employing some shady tactics to recruit majors into areas that traditionally don't lead to great employment opportunities.
my Student loan (long ago) was 10k... I get that the cost of school has gone up ten fold but I worked the entire time to help pay my way... I can't imagine kids going to school, taking out loans for the entire 4 or more years and expecting not have to pay it back. I cringe when I hear kids that have 35k in student loans but 100k and I just laugh.. It is hard to imagine what they must have been thinking.. "when I get out of school I will be making 250k per year" ??
It is a macro vs. micro economic argument. The students are quite rightly saying their aren't enough jobs to go around. (A macro argument.) Your reply is it is your fault that you aren't at the top of the pile. (A micro reply)
The job market sucks and will likely suck for the rest of my life. So take out more debt to get more letters in back of your name so your do better than the other people out there. We've got a global debt bubble. It is going to pop and as it does so new loan underwriting is going to slow way down or stop altogether. Without new loans then there is no new economic growth without that there is no demand for labor. With no demand for labor then there is no demand for new letters in back of your name. The more capable prosper and the less capable suffer. More student debt doesn't change this.
So selling students more debt to get ahead is fraud and their debts should be forgiven.
I can agree with a lot of what's been posted all through this thread. I went to college in the early Seventies, and on a scholarship. If I had known of the limited intrinsic value of my degree (which was in Business -- not exactly intellectual finger-painting) and the real challenges of life on the bottom rung of the "Korporate" ladder in a more realistic setting, I would have chosen another major.
Sometimes, the most important function of an internship is to "unsell" a career to a candidate who's a poor psychological match, but too much student debt, too soon, can complicate the process. And the peddlers of "soft" majors and degrees have absolutely no incentive to tell the hard truth.
Yep, the whole student loan program is a facade for transfering wealth to universities while leaving students deeply in debt with few good career prospects. It's a sham and another example of how politicians play footsie with corrupt private industries so that each can gain.
Unfortunately young students are easy pickings and while there is necessarily a bubble that is about to burst, the program had a corrosive effect on our economy and our community lives.
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.
