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The college education system has become a ponzy scheme. Loans are given out like candy. People are not even smart enough to attend college, and colleges jack up their tuition costs to grab the government loan $$$$$$$$
"to grab the government loan $$$$$$$$"
ANOTHER reason the gov't should NOT get involved in our health care!
If they can't run a student loan program how in the hell are they going to handle our healthcare?
Why is it the students are blamed and not the banks who saw this as a way to lend money the government would lean on people to pay back and garnish wages to get for them?
Why not blame it on colleges for charging ridiculous prices for tuition when our society damned near requires a degree for something, even if it's being an auto mechanic?
Why are college students, most of whom began borrowing when they were barely legal adults, the ones who get badmouthed?
Our country sucks sometimes. It really does.
"most of whom began borrowing when they were barely legal adults,"
For every story like this one, there are dozens of stories about people who used that money for school and for expenses related to school because they could not afford to attend college WITHOUT loans.
This is especially true for young, single mothers... largely out there trying to better themselves so they can get good jobs and take care of their kids.
Damned if they do and damned if they don't, but don't let them try to get an abortion because they're damned then, too.
People basically suck.
Way too many are getting useless degrees and cannot get jobs which allow them to "live a better life" with an apartment, a house, a decent car etc. and STILL pay their student loans.
"In 2014, there was approximately $1.3 trillion of outstanding student loan debt in the U.S. that affected 44 million borrowers who had an average outstanding loan balance of $37,172. As of 2018, outstanding student loan debt totals 1.5 trillion.
Anyone taking out massive student loans now must have been raised by wolves. The best thing that ever happened for the tax payer is that you can't BK loans now and people have to live with the consequences.
But I agree, our Country can suck, especially the crappy parents that allow their kids to be part of the ponzi scheme. The ones that should have known better.
People need to understand they aren't ENTITLED to go to any school they want to.
I work with people that have over 100 grand in SL debt making the same money as me (computer programmer). Their degree isn't even in computers. Some took over 15 years to pay it off, it's like a second mortgage.
So, because a kid might have a "crappy parent" you want to subject them to what amounts to debtor's prison?
Of course they are not "entitled" but what do you do when a kid is bright and capable and just doesn't have the means?
Tell them to go work at a gas station because they weren't born wealthy enough to pay cash for college?
Colleges also prey on kids with the idea that they will make enough to pay the loans back. And, who is really that savvy at 18-22 years of age? Not most people.
Unless they already come from financially-savvy parents.
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Yeah, time to tie providing loans to the degree and qualifications of persons applying. My brother in law ran u- $200K in student loans but he got a degree in Orthodontia and paid back his loan.
I'm a fan of tying loan limits to the program.
Keeps colleges from charging ridiculously high tuition to fields where there's little expectation of a high salary. Social work comes to mind.
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I often wonder why young college students aren't being counseled about the amount of the loans they are taking out and what it will mean in their lives to repay all that. Some 18 year olds are simply unaware of how and why a starter salary isn't enough to begin repaying these amounts of money. Assuming they even get a job right out of college. It's all so sad.
They are counseled, but nobody says "hey, did you know that if you go for that degree in social work, you won't be able to repay this much money?" because they want to sign people up for their programs and they CAN show figures that say you could make this much. Youths are optimistic. And, parents, even ones who are financially savvy, want their kids to be happy and educated.
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Just drop the worthless classes. A student can have all core classes done with about 60 hours. But they are required to have 124 hours for a degree. Many of those are useless classes and the students borrow money to pay for them. Just require the core classes for a degree.
I like that there are plenty of elective offerings, but I do agree that too many classes are required for graduation.
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My pay before college, $8.00, after 100K+, same story with my wife. I know the cost is high but what is the alternative? Parents steer their kids to the most SURE way to make a living wage, that's it. If basket weaving paid $20+ an hour, there would be a line outside the trade school teaching it. Honestly parents don't trust that plumbers and welders will continue to make a living wage over a 30 year career.
We see this in nursing all the time. Students who would be teachers, social workers, art majors, construction, mechanics, enter nursing because it's a guaranteed 50K+ right out of school, and easy jobs to find. Has nothing to with a love for healthcare or nursing, just economics. Until parents see that change, they will continue to push kids into college education.
OK and I don't think I needed Geology, Astronomy, three different communication courses (two were business writing mind you) but I am glad I did. I know with community college we need to remove the testing that is used to push people back. I had to take two math courses I didn't need to because of this. That I can agree on, but I would argue the gen eds are more important than we realize.
Oh, more people need communication courses than they realize.
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