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Even better....it stops when people balk at paying high tuition and fees, especially for liberal arts degrees that provide dim prospects for good paying employment after graduation.
they really should have known that before they took the loans... failure to do research is how most/all businesses fail. why should this be any different?
a student loan really is something like a business/investment loan anyhow, people should do better planning before taking it
Student loans always were silly to me. These banks would never give a home mortgage to someone who would have a issue paying it yet these dumb schools give education loans out like candy to kids who don't even have a future yet.
A college degree was a less risky investment 50 years ago.
It will be paid by raiding the paychecks of responsible taxpayers.
Or garnishing the paychecks of defaulters, who are an extremely lucrative source of revenue for Treasury.
05-28-2016, 12:29 PM
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n/a posts
Quote:
Originally Posted by hbdwihdh378y9
"Refused to" fund their own retirements? That is crazy talk.
"Didn't" fund their own retirements? That's what sane people say.
No, "refused to" is a perfectly apt description of what happened.
They knew exactly what they were doing, had ample opportunity to take a different course, and refused to do so because hey, why fund your retirement when you can simply take it out of the pockets of future generations?
No, "refused to" is a perfectly apt description of what happened.
They knew exactly what they were doing, had ample opportunity to take a different course, and refused to do so because hey, why fund your retirement when you can simply take it out of the pockets of future generations?
??? ??? How much do you realistically expect a burger flipper to save for retirement? How much if they have student loan debt?
A college degree was a less risky investment 50 years ago.
I graduated from college 36 years ago. I had an inflation-adjusted $45K in student debt. The law had already been changed so bankruptcy wasn't an option to discharge school loans. I graduated in the face of a huge recession and double-digit hyperinflation. The unemployment rate was higher than at the height of the Great Recession. I have lots of friends who had a very difficult time landing any kind of job. I had the job skills to land a job but I busted my tail for four years to get Electrical Engineering and Computer Science undergrad degrees and got good grades including Tau Beta Pi engineering honor society.
I love this revisionist history that someone graduating in 1980 with a C- in basket weaving waltzed into corporate 'murica with a high paying job and quickly got on the management track to a mid-6 figure salary.
Even better....it stops when people balk at paying high tuition and fees, especially for liberal arts degrees that provide dim prospects for good paying employment after graduation.
Personally, I don't get it. College profs, inflation-adjusted, get paid the same now as they did 40 years ago and they teach the same number of students. What has changed is all the non-teaching spending. The football and basketball coach get paid $1 million each even though the teams are lousy and the programs lose money. There are endless layers of student services that didn't exist when I was an undergrad. I don't understand why people don't demand no-frills colleges. Easily half their tuition and fee money is paying for things that have nothing to do with academics. Close the gym and the field house. Cancel all sports. The students can self-organize club sports. If you're not actively teaching students, you don't have a job and are let go.
I graduated from college 36 years ago. I had an inflation-adjusted $45K in student debt. The law had already been changed so bankruptcy wasn't an option to discharge school loans. I graduated in the face of a huge recession and double-digit hyperinflation. The unemployment rate was higher than at the height of the Great Recession. I have lots of friends who had a very difficult time landing any kind of job. I had the job skills to land a job but I busted my tail for four years to get Electrical Engineering and Computer Science undergrad degrees and got good grades including Tau Beta Pi engineering honor society.
I love this revisionist history that someone graduating in 1980 with a C- in basket weaving waltzed into corporate 'murica with a high paying job and quickly got on the management track to a mid-6 figure salary.
Um, 50 years ago was 1966, a time at which very few baby boomers had yet acquired college degrees.
As I recall, student loans were dischargeable in bankruptcy until about 2005.
??? ??? How much do you realistically expect a burger flipper to save for retirement? How much if they have student loan debt?
Why would a college grad work at a minimum wage job that long? If they were smart enough to get a degree, they are smart enough to know how to build on work experience to move up. Or are you saying that they aren't that smart? That they rely on someone to give them a "syllabus" that outlines their life?
I don't expect a burger flipper to save for retirement, I expect a burger flipper to become a chef/owner/manager/any number of jobs higher on the jobs ladder. Then I expect them to save for retirement...
Quote:
As I recall, student loans were dischargeable in bankruptcy until about 2005.
off by a decade or so... think it happened sometime in Clinton's years
Why would a college grad work at a minimum wage job that long? If they were smart enough to get a degree, they are smart enough to know how to build on work experience to move up. Or are you saying that they aren't that smart? That they rely on someone to give them a "syllabus" that outlines their life?
I don't expect a burger flipper to save for retirement, I expect a burger flipper to become a chef/owner/manager/any number of jobs higher on the jobs ladder. Then I expect them to save for retirement...
off by a decade or so... think it happened sometime in Clinton's years
Because they graduated in the Rust Belt at the bottom of the Carter recession (when two-thirds of new grads were leaving the state to find jobs elsewhere), they had no marketable job skills, and working a minimum wage job was preferable to not working and therefore starving.
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