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Started By
Message
College loans are a scam
Posted on 8/25/17 at 11:05 am
Posted on 8/25/17 at 11:05 am
17
Posted on 8/25/17 at 11:06 am to StickD
I don't believe scam means what you think it does. And I say that as someone with college debt.
Posted on 8/25/17 at 11:08 am to StickD
You borrowed money to pay for something expensive. You signed the papers
Where's the scam?
Where's the scam?
Posted on 8/25/17 at 11:09 am to StickD
people spend more on cars than their education....
Posted on 8/25/17 at 11:09 am to StickD
Loans, school cost, path of study, etc.
All are to blame and they are all intertwined.
All are to blame and they are all intertwined.
Posted on 8/25/17 at 11:10 am to StickD
It's not a scam, but it is a broken system.
Schools raising prices because the government guarantees their checks is obnoxious
Schools raising prices because the government guarantees their checks is obnoxious
Posted on 8/25/17 at 11:10 am to StickD
Not a scam but there are 2 things incredibly corrupt about the system.
1.) The entity in charge of looking after the students i.e. student services at universities, etc. have an interest in seeing students rack up loans. Lots of folks don't realize this and assume they have their best interest at heart.
2.) The process of getting loans is WAY to easy...a few clicks on the internet.
1.) The entity in charge of looking after the students i.e. student services at universities, etc. have an interest in seeing students rack up loans. Lots of folks don't realize this and assume they have their best interest at heart.
2.) The process of getting loans is WAY to easy...a few clicks on the internet.
Posted on 8/25/17 at 11:10 am to StickD
I think it's insane we push people into college that shouldn't be there and allow 18 year olds to take out enormous sums of money on degrees that won't pay shite but I don't know if I would call it a scam.
Posted on 8/25/17 at 11:11 am to StickD
You knew what you were getting into
Posted on 8/25/17 at 11:15 am to StickD
quote:
College is a scam
Ffy fgt
Posted on 8/25/17 at 11:17 am to StickD
quote:
8 million in default???
Defaulting on student loans will probably lead to the next bubble collapse like we saw with the whole mortgage crisis because majoring in gender studies isn't gonna pay off your loan.
Posted on 8/25/17 at 11:17 am to Breesus
quote:
It's not a scam, but it is a broken system.
Schools raising prices because the government guarantees their checks is obnoxious
in state tuition at LSU is roughly 11k a year, so a degree is roughly $44k. I can almost guarantee that the vast majority of grads spend that amount on a car in the 10 years after graduating.
Why do people put off on paying for student loans, 10 plus years but have no problem in paying off a car note in a short time.
The problem is people symbolically value education, but get pissed when you put a monetary value on it.
Hell private school education cost more than college but no one cares about that.
Posted on 8/25/17 at 11:20 am to 13SaintTiger
Thanks for all the personal attacks, I'm not in the 8 million people.
8 million people.
If true, that's more than a couple of people.
Posted on 8/25/17 at 11:22 am to NYCAuburn
One hole in your logic is that a lot of times when a person graduates they end up getting a job that had jack shite to do with their major, thus not valuing the education they paid for and not actively paying it back. Not saying it's right. And I'd like to see where you found the average college graduate spending $44k on a car within 10 years of graduating
Posted on 8/25/17 at 11:22 am to Upperdecker
quote:
You knew what you were getting into
I'd hazard to guess a lot of these kids really don't though. They don't teach adequate personal finance skills in hs, councilors pushing them into college instead of trade school even if that's not the right fit, and the mantra of follow your dreams and study litererature etc gets them in over their head quickly.
Posted on 8/25/17 at 11:23 am to NYCAuburn
Spot on.
Posted on 8/25/17 at 11:23 am to StickD
Not a scam at all. But it's a good reason to think carefully about why you're going to college and what you hope to accomplish. And then go do that.
If you're going in order to party for five years and get a 2.75 GPA (if you graduate at all) with a degree in General Studies then you're doing it wrong.
If you're going in order to party for five years and get a 2.75 GPA (if you graduate at all) with a degree in General Studies then you're doing it wrong.
Posted on 8/25/17 at 11:23 am to StickD
quote:
Thanks for all the personal attacks, I'm not in the 8 million people.
Autocorrect, sry.
Loans aren't the problem here though.
Posted on 8/25/17 at 11:25 am to 13SaintTiger
quote:
And I'd like to see where you found the average college graduate spending $44k on a car within 10 years of graduating
Not sure where he got that, but the average price paid for a new vehicle is 33.5k. It's not hard to guess that a college graduate would spend more than an average person on a car.
Posted on 8/25/17 at 11:25 am to foshizzle
quote:
Not a scam at all. But it's a good reason to think carefully about why you're going to college and what you hope to accomplish. And then go do that.
If you're going in order to party for five years and get a 2.75 GPA (if you graduate at all) with a degree in General Studies then you're doing it wrong.
Try explaining this to the average 17/18 year old. America props up college to be the gold standard. Have fun telling 17 year old jimmy that it's not for him.
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