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A contract is an obligation. One needs to think carefully before signing it. I once heard that those making the most money from their education are the least likely to pay their student loans off. Choice.
Think of those who chose not to take out a loan, and instead went to work. Should they be working to pay off the student loans of the doctors. I don't think so.
After seeing how many foreign doctors are in the US, I do feel that something should be done. The military is always a choice for working off some debt, and maybe have something similar where one volunteers for a certain amount of time that would bring down the total cost, but they would be held to a contract and if they didn't perform per the contract, they would owe the money back on the loan.
Those that have debt made a choice. My husband and myself, lower wage earners than doctors, paid off our student loans, and we kind of expect others to do the same. If their loans are forgiven, then we should get a refund of the money we paid as we could certainly use it for retirement!
It's a systemic issue. The Casino can't complain about going bankrupt when it lends 500x leverage to a rookie player with no collateral or track record.
Whether it's a contract or not means very little in actual practical terms.
People need to understand the macro level implications and stop thinking this is an individual problem.
There is no education anymore. its extortion. A money making scheme ran by sociopaths. I would hate being a kid these days from all brain washing indoctrination received in your formative years to getting ripped off with overpriced colleges that amount to nothing for career prospects. No thanks.
The main issue is and has been for a while now, lack of quality jobs. There is too many damn people and too few jobs. The last generation that had any access to affordable housing, healthcare, education were the boomers. . America is a nation that has completely imploded
They CHOOSE to pay the minimum because they are waiting for some politician to cancel the debt and add it to the taxpayers tab that will never get paid.
If the politician doesn’t swoop in and save us, they will have a 25 year credit history of on-time payments!
There is no education anymore. its extortion. A money making scheme ran by sociopaths. I would hate being a kid these days from all brain washing indoctrination received in your formative years to getting ripped off with overpriced colleges that amount to nothing for career prospects. No thanks.
The main issue is and has been for a while now, lack of quality jobs. There is too many damn people and too few jobs. The last generation that had any access to affordable housing, healthcare, education were the boomers. . America is a nation that has completely imploded
Hmmm... The problem seems to be that too many people are choosing the wrong majors. You know... the useless, low demand, unmarketable liberal arts degrees that are a dime a dozen and therefore low salary. I have two adult millennial children in their late 20s and early 30s. Both have post-grad STEM degrees. Both had merit scholarships, and worked part-time jobs during the school year and summer STEM internships that paid $25/hour to pay for what the scholarships didn't cover. Graduated with no student loan debt, had no problem whatsoever finding jobs (and this is where it really pays off to attend a world-ranked state university - the alumni networks are HUGE and are a significant advantage), and both are earning over $100,000/year.
Plenty of inexpensive state schools in the world's top 50:
Colleges are greedy. There is nobody controlling how much they can charge students for tuition. There isn't even any controls on how much they can require students to pay for textbooks. Some textbooks for courses can run as much as $500 - for one book, for one class. If students complain, they are just told "tough".
Even community colleges have raised their tuition fees over the past few years.
Hmmm... The problem seems to be that too many people are choosing the wrong majors. You know... the useless, low demand, unmarketable liberal arts degrees that are a dime a dozen and therefore low salary. I have two adult millennial children in their late 20s and early 30s. Both have post-grad STEM degrees. Both had merit scholarships, and worked part-time jobs during the school year and summer STEM internships that paid $25/hour to pay for what the scholarships didn't cover. Graduated with no student loan debt, had no problem whatsoever finding jobs (and this is where it really pays off to attend a world-ranked state university - the alumni networks are HUGE and are a significant advantage), and both are earning over $100,000/year.
Plenty of inexpensive state schools in the world's top 50:
Hmmm... The problem seems to be that too many people are choosing the wrong majors. You know... the useless, low demand, unmarketable liberal arts degrees that are a dime a dozen and therefore low salary. I have two adult millennial children in their late 20s and early 30s. Both have post-grad STEM degrees. Both had merit scholarships, and worked part-time jobs during the school year and summer STEM internships that paid $25/hour to pay for what the scholarships didn't cover. Graduated with no student loan debt, had no problem whatsoever finding jobs (and this is where it really pays off to attend a world-ranked state university - the alumni networks are HUGE and are a significant advantage), and both are earning over $100,000/year. https://cwur.org/2020-21.php
A lot of people with STEM degrees have to compete with people on H1-B visas, particularly in the IT and computer fields. Also engineering.
STEM Isn't the big safety net that everyone thinks it is.
You have given an example of 2 (TWO) people who did well with STEM degrees. That doesn't mean that EVERYONE with a STEM degree is employed and doing well.
What’s “right” today may be “wrong” tomorrow. Years ago Engineering was a great career choice. Until the jobs were handed to the Indians and Chinese
Companies are going to continue to tighten their financial belts and get by with less.
Is it really your assertion that all engineering jobs are held by Indians and Chinese? That's patently absurd. It is true, however, that those who earned degrees from lower-quality and smaller private schools (no large alumni networks) were replaced with more competent H-1B workers. It's a global economy. Everyone should be aware of that and choose their school carefully.
A lot of people with STEM degrees have to compete with people on H1-B visas, particularly in the IT and computer fields. Also engineering.
STEM Isn't the big safety net that everyone thinks it is.
You have given an example of 2 (TWO) people who did well with STEM degrees. That doesn't mean that EVERYONE with a STEM degree is employed and doing well.
Like I've already posted, it depends on how it's done. Choosing a top world-ranked state university with a large alumni network is key to upgrading one's job prospects.
Case in point... There's a c-d poster who earned an engineering degree from the Colorado School of Mines and was constantly whining about not being able to find a job. Well, first problem... world ranking: 475. Second problem... very small school. Infinitesimally small alumni network, if any at all.
Last edited by InformedConsent; 09-07-2020 at 10:38 AM..
Colleges are greedy. There is nobody controlling how much they can charge students for tuition. There isn't even any controls on how much they can require students to pay for textbooks. Some textbooks for courses can run as much as $500 - for one book, for one class. If students complain, they are just told "tough".
Even community colleges have raised their tuition fees over the past few years.
That’s because they’re being subsidized by the wide availability of federal student loans.
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It is true, however, that those who earned degrees from lower-quality and smaller private schools (no large alumni networks) were replaced with more competent H-1B workers. It's a global economy. Everyone should be aware of that and choose their school carefully.
