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I'd like to know why myself. What possible grounds do these colleges have to demand a degree cost $30,000 or more per student?
Its partially an arms race to recruit kids (better facilities/dorms/experiences etc). The schools kids go to now are so much nicer than when we went. Its also that state governments have cut their contributions to State schools an alarming amount, and those costs are passed along to the consumer.
I do agree that we should cut back on the amount of loans awarded, that would essentially reduce the pool of kids that COULD afford to go to school by taking out loans, and in turn forcing schools to reduce their costs. I also think loans that are given need to return to the pre-predatory rates. My parents paid 1-2% on their student loans. You really don't want to know the rates I paid when I went to grad school, it was usury, and the school I attended should never have allowed it to occur. Student loans should not be a money making endeavor. I was certainly young and dumb.
Likely most boomers did not own much of anything free and clear when they were 24-39.
There are 5300 colleges/ universities in the US. How many have you personally visited? Most millennials have aged out of school.
Many universities with massive student populations are located in cities or areas where parking is a serious challenge. Not going to find many students with any sort of car.
Social media is used to advertise goods, services and politicians. “ Influencers” are paid well to pimp products and people. People are more inclined to buy stuff that is advertised. The cost of advertising is baked into the price of everything.
Yes, but. . . "Sixty-eight percent of adults 70 and older are mortgage-free, while 15.9% of Millennials are free and clear of mortgage payments."
As one who barely fits into that group, I can say that between 24 and 39 I most generally had a paid-up car.
Yes, but. . . "Sixty-eight percent of adults 70 and older are mortgage-free, while 15.9% of Millennials are free and clear of mortgage payments."
As one who barely fits into that group, I can say that between 24 and 39 I most generally had a paid-up car.
The largest cohort of millennials was born in the late 1980s and early 1990s and is in their late 20s.
Many baby-boomers seem to have at least been through times of uncertainty like 1983, 1991, 2002-2003 and 2008 so they have been much more conservative.
Many Millennials are counting on full student loan forgiveness and free day care so they are splurging on penthouse lofts, McMansions and only the best in luxury finishes. Few pay with cash, a vast majority take a massive mortgage and many of high debt to income ratio.
This debt millennials in isn't anything yet. Many will be buying very overpriced homes in very indebted cities with huge pension liabilities.
Many are getting ready to splurge on luxury homes with very high debt to income ratios. Only the very best compared to a generation ago.
The largest cohort of millennials was born in the late 1980s and early 1990s and is in their late 20s.
Many baby-boomers seem to have at least been through times of uncertainty like 1983, 1991, 2002-2003 and 2008 so they have been much more conservative.
Many Millennials are counting on full student loan forgiveness and free day care so they are splurging on penthouse lofts, McMansions and only the best in luxury finishes. Few pay with cash, a vast majority take a massive mortgage and many of high debt to income ratio.
This debt millennials in isn't anything yet. Many will be buying very overpriced homes in very indebted cities with huge pension liabilities.
Many are getting ready to splurge on luxury homes with very high debt to income ratios. Only the very best compared to a generation ago.
lol so where can I find these mythical millennials that buy mcmansions?
Because last time I checked we’re the biggest critics of those types of houses.
I don’t know ANYONE of my peers living like that. Everyone Ive known is sharing an apartment with other people...
Wife bought 5 sacks of groceries for a young woman yesterday that said on next door that her kids were hungry and she didn't have a car or money for groceries....when we arrived to drop off the groceries, there were 3 cars at the house and while we were there, a young woman arrived in a new Acura SUV with a big Starbucks drink for her. Made us wonder if she really needed the food (didn't look like she had missed a meal in a long time). But, the thought of hungry kids was too hard to ignore.
WOW! A new Acura SUV AND a big Starbucks drink, she must be loaded lol
YouTube and social media mavens are the new Keeping up with the Joneses. Why was that fine when Boomers were kids, but now not that they are grandparents to Millennials.
I rarely see millennials in anything except ultra-lavish luxury cars.
Amazing, how millennials which a vast majority insist on only the best have similar debt-burdens as baby boomers who for the most part own their homes free and clear and a majority of big pensions or 401k.
A vast majority of millennials have not even started a family yet as most are in their mid 20s to early 30s but many, many will have an average of 2 kids each in the next decade as ultimately only a tiny percentage of people don't have children by the time they are 45.
College students seem to live very, very peer-pressured social media lifestyles. Many are leveraging a fortune in the last year or two because many think Elizabeth Warren or Bernie Sanders will forgive every penny of the debt from their celebrity-like lavish lifestyles in college.
I would venture to guess that many millennials daily food and coffee budgets are similar to what people of the same age group spent each month for food.
I have noticed that around many college campuses there are very few students biking, walking or taking transit. Most have late-model luxury vehicles.
Amazing, how social media has caused such a tremendous consumerist spending spree.
The ones who don't have it, criticize them. Jealousy
You need to associate with a higher class of people.
I don’t criticize anyone who lives better than me, I see their character
I associate with who ever is is real and genuine. I can care less if they’re rich or not...
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