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re: The student loan industrial complex
Posted on 8/17/23 at 1:22 pm to McVick
Posted on 8/17/23 at 1:22 pm to McVick
quote:
This line of thinking would also impact undeclared students or ones who switch majors after their first semester or more. Would the private lender suddenly halt the loan if someone switched from a business major to an economics major? Or to an education major? This seems like it would force students to stick with majors they may not excel in or care about. Or limit their opportunity to switch majors to complete any degree. Yes, lenders can choose who they want to lend money to but successful ones will squeeze out competition and become too big to fail.
What this would do is force colleges to dump useless degree programs like gender studies that exist solely so colleges can accept more students and take their loan money.
0
Posted on 8/17/23 at 1:25 pm to LSUFanHouston
Gen X parents failed today’s generation of college students in every way possible.
Posted on 8/17/23 at 1:29 pm to Jake88
LSU tuition is way more than 18k a year. Even students with in-state tuition still have to pay 12k to 14k a semester after scholarships and grants. That’s as much as a fricking down payment for a car. It’s absurd.
This post was edited on 8/17/23 at 1:30 pm
Posted on 8/17/23 at 1:32 pm to JasonDBlaha
quote:Wrong. I just paid it. With tuition, fees, room and board right around 9500 this semester.
LSU tuition is way more than 18k a year. Even students with in-state tuition still have to pay 12k to 14k a semester after scholarships and grants. That’s as much as a fricking down payment for a car. It’s absurd
Posted on 8/17/23 at 1:35 pm to StringedInstruments
quote:
That’s like 20% of the country. How much money do you think trade skills will bring in if the majority of workers are in the trades?
We should redefine trades. A lot jobs done by college graduates today could easily be done by someone with trade school type education and some real world work experience.
Posted on 8/17/23 at 1:35 pm to TejasHorn
Too many kids go to college without an objective of any kind. Their parents view anything other than college as some type of life failure and they want the modern college experience as if it is some kind of right of passage to upper middle class bliss.
Posted on 8/17/23 at 1:36 pm to TejasHorn
The people who really should be in the student loan business are the colleges and universities, themselves. They all have endowments worth hundreds of millions, up to tens of billions. Let them be the ones to stick their necks out for marginal students, and majors that aren’t worth the tuitions invested.
Posted on 8/17/23 at 1:37 pm to TejasHorn
Ok so xiden* and his minions want to pay off college student loan debt.
What about the new crop of college students that start this fall majoring in Moron studies ?
What about the new crop of college students that start this fall majoring in Moron studies ?
Posted on 8/17/23 at 1:39 pm to Jake88
Just because you only paid $9500 a semester doesn’t mean all of the other in-state students are paying that same amount.
Posted on 8/17/23 at 1:45 pm to JasonDBlaha
quote:You said after scholarships and grants students will still pay 12-14k per semester. Who?
Just because you only paid $9500 a semester doesn’t mean all of the other in-state students are paying that same amount
You also said on the wealthy could oay out of pocket. Well, I am paying out of pocket and 529.
This post was edited on 8/17/23 at 1:47 pm
Posted on 8/17/23 at 1:46 pm to Jake88
quote:
LSU tuition is way more thanquote:. Even students with in-state tuition still have to pay 12k to 14k a semester after scholarships and grants. That’s as much as a fricking down payment for a car. It’s absurd
18k a year
quote:
Wrong. I just paid it. With tuition, fees, room and board right around 9500 this semester.
LSU website states $25k for 2023-2024 or $12.5k per semester. That's campus housing, meal plan, tuition and fees for 15 credit hours and doesn't not include scholarships (like TOPS) or grants.
So....1 year equals 2 semesters. $9.5k x 2 = $19k. A $6k difference. Is your child living at home? Didn't get a meal plan? Has TOPS or something else? Taking fewer credits?
Posted on 8/17/23 at 1:59 pm to DakIsNoLB
quote:Much of what is in those estimates includes other things like proposed living expenses. She's taking 17 hours. She now has to live off campus but that is still $680 per month. The dorms vary notably in costs per semester. You could also get the highest meal plan too, if you wanted to jack up costs.
So....1 year equals 2 semesters. $9.5k x 2 = $19k. A $6k difference. Is your child living at home? Didn't get a meal plan? Has TOPS or something else? Taking fewer credits?
Posted on 8/17/23 at 2:04 pm to TejasHorn
Close college in 5 years we have AI.
Posted on 8/17/23 at 2:13 pm to Jake88
You got lucky and were able to get a huge discount on tuition. Not everyone has that luxury. Most in-state students are still paying close to 24k a year in tuition. Look it up.
Posted on 8/17/23 at 2:24 pm to DakIsNoLB
quote:
I don't think private lenders are doing this, but they ought to. No different than assessing the credit worthiness of a new car or home buyer or a credit card recipient
LOL. They aren't doing that for credit cards or cars. It's all credit score based these days. Even mortgages are relying more on credit score and less on traditional underwriting, especially if the buyers are W-2 employees.
quote:
Students are going to college for anything and everything under the premise that if you don't have a degree, you won't do well. Well, we have millions that do have degrees in jobs that don't pay anything close to being worth the cost that want to be bailed out. They aren't doing much better than if they hadn't gone at all.
Who is telling them that premise? And who are running the companies that require "a degree" for a job that in no way requires a college education?
Those are the issues that we need to address.
Posted on 8/17/23 at 2:25 pm to AP83
quote:
My son wants to be an engineer not be indoctrinated by a left wing sociology teacher who will shut up any student that doesn't have his same liberal beliefs.
Yes. But your son will have a hell of an "experience" with a liberal chick he met in that class, when he sees her at the bar one night.
Then your son will be thankful he was forced to take that dumb class.
Posted on 8/17/23 at 2:27 pm to Jake88
quote:
There are 529 plans where those who an ahead can invest for their kids' college.
The average middle class parent who is struggling to pay bills thanks to Bidenflation doesn't have the capacity to fund a 529 plan.
Posted on 8/17/23 at 2:30 pm to Purple Spoon
quote:
Too many kids go to college without an objective of any kind. Their parents view anything other than college as some type of life failure and they want the modern college experience as if it is some kind of right of passage to upper middle class bliss
Bingo Bango Bongo.
Plus, how many 18 year olds truly know what they want to do with the rest of my life.
I've become very successful in life, and I changed majors three times and changed colleges.
Posted on 8/17/23 at 2:31 pm to HonoraryCoonass
quote:
They all have endowments worth hundreds of millions, up to tens of billions. Let them be the ones to stick their necks out for marginal students, and majors that aren’t worth the tuitions invested.
There are absolutely some colleges like this, but many don't have these levels of endowments.
Posted on 8/17/23 at 2:44 pm to LSUFanHouston
quote:
LOL. They aren't doing that for credit cards or cars. It's all credit score based these days. Even mortgages are relying more on credit score and less on traditional underwriting, especially if the buyers are W-2 employees.
Nothing could scare me more.
quote:
Who is telling them that premise? And who are running the companies that require "a degree" for a job that in no way requires a college education?
Those are the issues that we need to address.
Completely agree. This is the societal push. That any higher education is a net benefit and that it is needed to have a good income. Not sure where this can be cut off.
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