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The whole reason people get $100,000 loans to go to college is so they'll make 6 figure a year salaries and be superior to all the lowly types of workers. Who do they think is supposed to pay their way? Let them get their lavish wages and pay back their loans.
Go to JUCO for 2 years while working. Debt = 0.
Go to a decent state school that is cheaper. Debt = 40k MAX, less if you work a lot summers, work during school etc. and don't get any help whatsoever.
Anyone that goes to a 30k a year school with no help from scholarships, grants, doesn't work much etc etc. and majors in anything that isn't really lucrative is asking for BIG trouble.
Yes, many smarter students actually live with their parents for a couple years, go to a much more affordable community college, and work. Yes, working while in college cuts into some of the time you could have for partying or going to concerts and wild spring break vacations.
And yes, it just doesn't seem so high status to attend a community college for two years getting the core curriculum completed. It sure makes college more affordable and eliminates the need for the huge loans.
Starting at a CC is really good if you are unsure of your major or have a major with a specific CC transfer option. My son went the CC to University route and is still living at home and still not 100% committed to a major, although he's going to end up with one by default if he doesn't decide soon.
Starting at a CC is really good if you are unsure of your major or have a major with a specific CC transfer option. My son went the CC to University route and is still living at home and still not 100% committed to a major, although he's going to end up with one by default if he doesn't decide soon.
CCs are great for some people. But not great for others. There's two inherent problems with most CCs. First, they don't transfer that well into several schools. My school, for example, will not take any transfer credits. So it's best to plan the latter part of your college career before making this decision.
The other is that most CCs don't provide much of a college education. They tend to focus on classroom teaching than higher academics.
Government should not be in the business of loaning nor borrowing money from anyone.
Debt is what is wrong with our nation and society. We are all playing kick the can at this point. $900B is basically a trillion. None of us can fathom a trillion anything as one can never count that far in your lifetime.
As far as forgiving student loans...Hell no!
I attended classes at two local CC. I wasn't seeking a degree, just basic classes to get me to my goal and I then attended a technical school. I took the education I had and went door to door in a brand new suit with a resume (mailing/faxing/emailing them was lazy) and landed a job in two weeks. Going in person is what got my foot in the door. I started as an electronics tech for NASA and moved up into engineering positions working with satellites for NASA and other entities. I took graduate courses to further my career - no degrees but the classes were required. I had skills a lot of grads had no idea of as mine was knowledge not taught in books or class.
Science is really cool and a BA doesn't cut it. I saw people with those degrees crash and burn in a science atmosphere as their brains weren't wired for that thought process. Educational and career choices have to be planned out before choosing classes.
I accumulated $7K in loans and worked 7 hours a day as a waiter for two years while in school. It was a tiring education but the job was very rewarding and I retired at age 50. I chose my employer the day I left tech school. Paid back the $7K rather quickly.
Whatever happened to the trades and apprenticeships in this country?
Answer...illegal immigration has absorbed that vocational avenue from US citizens graduating from HS. Go to a construction site and observe who is actually performing the labor. My brother owns a successful construction company - I know all about it.
I paid mine back, they can pay theirs. I have never had a spring break in my life as they never fit in. I have been on few vacations as my lifestyle doesn't afford the time though I do fly across the country visiting family a few times during the year. Do working vacations count? I always wondered how college kids migrated to the south for spring break when attending college. If I couldn't afford to drop my life to do so...how could they?
Then I read about forgiving their student loans????
Attend CC and state schools. Drop the overpriced colleges and universities because the name doesn't educate you. The $$$ you save is astounding. Employers looking for big name schools aren't really looking for educated applicants but prize ducklings they can parade around. I've seen it more than once.
Other countries, higher education is subsidized based on merit. No loans. If you pass the tests with the highest scores, you get a free ride to medical school. Something for our country to think about...in light of our healthcare costs, and associated high loans for medical professionals.
The truth is, our system of student loans is too easy...sign and get cash, at age 18. Some poor families do this, and the student still does not finish college. And is stuck with debt they cannot pay. I remember when I was teaching, some kids were told it was easy to get cash for college...it sounded better to go to school, than get a job. And some of these kids, were not college material...sorry...but of course, in our "new" society----college is for EVERYONE, reality...no...college is not for everyone.
The entire system needs to be re evaluated. Which will never happen....but if it was, it would be in a tier structure, based on merit, test scores, and end affirmative action....gasp!
As for paying off loans? No. Identify the dead beats, and garnish their wages based on amount owed....until the debt is paid off.
Other countries, higher education is subsidized based on merit. No loans. If you pass the tests with the highest scores, you get a free ride to medical school. Something for our country to think about...in light of our healthcare costs, and associated high loans for medical professionals.
The truth is, our system of student loans is too easy...sign and get cash, at age 18. Some poor families do this, and the student still does not finish college. And is stuck with debt they cannot pay. I remember when I was teaching, some kids were told it was easy to get cash for college...it sounded better to go to school, than get a job. And some of these kids, were not college material...sorry...but of course, in our "new" society----college is for EVERYONE, reality...no...college is not for everyone.
The entire system needs to be re evaluated. Which will never happen....but if it was, it would be in a tier structure, based on merit, test scores, and end affirmative action....gasp!
As for paying off loans? No. Identify the dead beats, and garnish their wages based on amount owed....until the debt is paid off.
Giving money to the highest scorers may discriminate against minorities who are forced to attend substandard schools.
Sign an agreement that if your student debt is forgiven, regardless of the amount, you will NEVER attempt to collect any social programs for the rest of your life.....except for those which you pay into.
For instance.....you opt out of ever being eligible for food stamps, welfare, housing subsidies and every other government subsidized program.
You will be able to collect SS and use medicare, because you are forced to pay for those.....but you are limited to collecting up to the amount that you paid into the system.
Why? If it takes a person his/her entire life to pay back the taxpayers money they borrowed so be it.
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