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re: Student Loan payments restarting
Posted on 8/7/23 at 5:53 pm to Tigerpaw123
Posted on 8/7/23 at 5:53 pm to Tigerpaw123
quote:
Or…….. How about you borrow money, you pay it back??? Maybe we need to do a better job of educating students before they take out a loan on what their monthly note will be, what the anticipated salary for their major is, and how that will fit into a monthly budget Maybe we should cap the amount of money a student can borrow based on major and anticipated salary
I think it is nuts to expect the average college matriculant to have a sufficient grasp of their career prospects and aptitude, to commit to tens of thousands (to $100k+) of non-dischargeable debt. Teenagers with little to no work experience and probably little educational experience outside of a given school system have very little perspective to base these decisions. Often their advisors (especially parents and relatives) have outdated knowledge from a different time and a different job market.
You can educate high school students about the long term impact of student loan debt service, but they are likely to have an overly optimistic (or at least uninformed) sense of how likely they are to succeed in an in-demand field of study, and how likely they are to find a lucrative career in that field.
2
Posted on 8/7/23 at 6:12 pm to Dead Mike
quote:
think it is nuts to expect the average college matriculant to have a sufficient grasp of their career prospects and aptitude, to commit to tens of thousands (to $100k+) of non-dischargeable debt.
So don’t give it to them as easy as just sign your name right here…. We have to stop treating college like it is the 13th grade, college is not for everyone and not everyone needs to go
If I wanted to borrow 100k for a new business and I walked into a bank and asked for a loan, they would make me present a business plan, how much money I was going to need, how much I was going to borrow, what my expenses would be, when could I start paying it back and where the money that I was going to pay back was coming from etc etc, maybe we should make these borrowers do the same and have some one objectively review their “business plan” and see if it floats
But this handing out huge loans to anyone who fills out an application is ridiculous
Posted on 8/7/23 at 7:20 pm to Dead Mike
quote:
I think it is nuts to expect the average college matriculant to have a sufficient grasp of their career prospects and aptitude, to commit to tens of thousands (to $100k+) of non-dischargeable debt. Teenagers with little to no work experience and probably little educational experience outside of a given school system have very little perspective to base these decisions. Often their advisors (especially parents and relatives) have outdated knowledge from a different time and a different job market.
Not to mention 99% of high school grads who actually think about this kinda stuff at 17/18 will see what the top end of such profession makes and just assume that's the guaranteed starting wage.
Older people will always love to shite on the people in their 20sfor having no clue how the world works and how life happens etc.
Well why are these same people expecting 17 or 18 year olds to be better?
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