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Colleges have built indoor waterfalls, water parks with lazy rivers and water slides, a grotto made to look like the one at the Playboy mansion, one campus has a mega hot tub that can fit dozens.
Also, colleges take essentially tuition money and throw it at their sports programs...look at colleges in the state of Michigan here.
Colleges will rack up more frivolous waste if big government will come in and write a check.
Yes. This is all due to the excess dollars the government (i.e. taxpayers) are providing to college students via loans. And now they're talking about just wiping out all that debt (i.e, taxpayers pick it up) so that these students enjoyed a fully-paid six-year vacation at a resort?
Slight digression....but it also sets students up for a big fall when they move out of the resort setting into the third-floor walk-up studio they can afford as a new college grad. If they were made to live in traditional dorm rooms, with large common baths, and institutionalized cafeteria food, it is more of an incentive to graduate and move on with one's life. (My first apartment was a studio with a full kitchen, with the washing machines in the basement, and it was a BIG step up.)
Another thing....because the government is full throttle with college loans, it puts more money into the hands of colleges - with which they build luxurious facilities. Some of these places look like a resort! (No wonder the kids want to delay graduation.)
When I was in college, I shared a dorm room with a roommate and two large common bathrooms that served the entire floor of about 30 students. Food was standard-issue cafeteria food. We need to go back to that standard of campus lifestyle, so that colleges could charge less, and students would borrow less.
This ^
We were trying to figure in inflation dollars how DD got all the way through Rice on 10,000 saved by parent dollars. Twenty two years later her son would have needed $45000 a year. It doesn't compute. But Rice has many new buildings. As do most of the schools. Buildings and administrators. It sure isn't going to faculty.
DD did need a loan to finish up. It went straight from the bank to the school. She was not able to use the money for a vacation.
Colleges have built indoor waterfalls, water parks with lazy rivers and water slides, a grotto made to look like the one at the Playboy mansion, one campus has a mega hot tub that can fit dozens.
Also, colleges take essentially tuition money and throw it at their sports programs...look at colleges in the state of Michigan here.
Colleges will rack up more frivolous waste if big government will come in and write a check.
Flip side. I played Football with a full Scholarship at a SEC school. We regularly had lunches with boosters and corporate supporters what would present the school (not individuals players, we get to eat lunch, we parade around like cattle) with Million+ dollar checks, largest I saw given was in person was $10 million dollars. My school makes $20 MILLION+ from their television, radio, and cable contracts alone. Add in jersey sales, ticket sales, advertisements, contracts to use the logo, businesses that pay the school to put a Gator on their sign (bet many of you know the school now) and that's a lot of cash for scholarships so they say.
I saw millions come in the door, my total scholarship was approx. $35,000 in worth. All i am saying is where the hell does all that money go, we need some real auditing of these schools.
Devil is in the details. I could probably agree to forgive some of the debt depending on the particular situations. Borrowed $100,000 to get a degree in _________ where there are no marketable jobs? That's the student's own fault. Borrowed $50,000 to get a degree in an industry that is quickly becoming automated and the jobs are disappearing? A bit of loan forgiveness might be in order here.
Devil is in the details. I could probably agree to forgive some of the debt depending on the particular situations. Borrowed $100,000 to get a degree in _________ where there are no marketable jobs? That's the student's own fault. Borrowed $50,000 to get a degree in an industry that is quickly becoming automated and the jobs are disappearing? A bit of loan forgiveness might be in order here.
Wrong. That is still the student's fault. Picked an industry which is going to be automated? Your fault and your responsibility. Go get a job as a barista or telemarketer and pay back the entire loan.
screw that -what about those that did the right thing - worked hard and PAID off the loans - working two jobs- not going out etc
********* - life lesson here you barrowwed the money - pay it back you splineless winnies
Or skip the games entirely and pursue a trade. Lots of young Americans doing this today. They can save money for a down payment on a house pretty quickly, buy a used car cheap with cash, and receive their education free and without brainwashing and manipulation.
Young people are our nation's greatest asset, and it's best that we don't burden them with unnecessary debt. Especially when that debt is used so they can learn poetry, philosophy, and other things that are useless for ordinary folks. That's called malinvestment, and it is damaging to an economy. Government has proven, time and time again, to be a damaging, destructive parasite.
No, but student loans should be able to be discharged in bankruptcy, and by law they're not. That would be the fairest way to solve this.
You cannot collect on a piece of paper. You can collect on assets like real estate, automobiles, and other real assets. This is why ordinary bankruptcy doesn't and shouldn't apply for student loans.
The fairest way to solve this problem is by educating prospective students about what they are signing up for, instead of brainwashing them into believing they have to go to college, or else. The current system is basically a predatory scam and ponzi scheme. Eventually, a whole lot of people are bound to get hurt, because it's not managed responsibly or ethically. Fix the problem, not the unproductive debt created by the problem.
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