- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
re: College loans are a scam
Posted on 8/25/17 at 11:28 am to 13SaintTiger
Posted on 8/25/17 at 11:28 am to 13SaintTiger
Degree Bloat is the real scam.
0
Posted on 8/25/17 at 11:30 am to Breesus
quote:
Schools raising prices because the government guarantees their checks is obnoxious
This is the real scam. Schools are artificially inflating their cost at a rapid rate because the loan money is flowing like honey. The debt is transferred to young students and their parents who all think little timmy is going to be the next big shot doctor or lawyer. Timmy changes his major to history one year in, doesn't want to deal with law school, and takes a job out of college making $40K a year and starting $120K in debt. This is happening all over the place.
The system needs to change to where the government "loans" go directly to the schools so they take on the burden of debt - which creates an incentive for them to keep their costs down. Then the student would pay a more reasonable price for their education.
Posted on 8/25/17 at 11:32 am to Epic Cajun
quote:
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.
The average person buys a car every 5 years, the average college loan is 10 years, the average car loan is 5 years in length. it's fricking mind boggling what people value and what they bitch about. 44k is was a 4 year degree from LSU cost. I am not including loans for partying and living, that's not college.
Posted on 8/25/17 at 11:34 am to NYCAuburn
quote:
The average person buys a car every 5 years
No way. I don't know a single person that buys a brand new 44,000 car every 5 years.
Posted on 8/25/17 at 11:34 am to NYCAuburn
quote:
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.
Books, housing, food, and other bills/expenses. That $44k is now close to $90k.
This post was edited on 8/25/17 at 11:35 am
Posted on 8/25/17 at 11:35 am to tlsu15
quote:
The debt is transferred to young students and their parents who all think little timmy is going to be the next big shot doctor or lawyer. Timmy changes his major to history one year in, doesn't want to deal with law school, and takes a job out of college making $40K a year and starting $120K in debt. This is happening all over the place.
quote:
The system needs to change
I see a problem with the people taking the loans here, not the system. the system didnt force any of these decisions
This post was edited on 8/25/17 at 11:38 am
Posted on 8/25/17 at 11:36 am to TheOcean
quote:
housing, food, and other bills/expenses.
have nothing to do with college itself, but everyday living, so why are colleges at fault?
This post was edited on 8/25/17 at 11:38 am
Posted on 8/25/17 at 11:36 am to Deactived
quote:
8 million people borrowed money to pay for something expensive.
They signed the papers
Where's the scam?
Scam might be the wrong word, however corporations and even people can declare bankruptcy, can't they?
What makes student loans any different?
From the video it sounds like they were just able to lobby and pass that as law?
ETA. Again This doesn't affect me, I'm not filing bankruptcy.
Posted on 8/25/17 at 11:37 am to NYCAuburn
You have state legislatures cutting back funding state schools because the state schools can just raise tuition and have the students foot the bill via federal loans. That is a completely fricked up system. Meanwhile the administration at all of these schools are bloated and the schools are blowing millions on upgrades that aren't needed.
If someone wants to go to college and major in English -- it shouldn't cost nearly $90k at a 4 year state school.
If someone wants to go to college and major in English -- it shouldn't cost nearly $90k at a 4 year state school.
Posted on 8/25/17 at 11:37 am to Breesus
quote:
No way.
Its a fact
quote:
I don't know a single person that buys a brand new 44,000 car every 5 years.
Well I never said 44k every 5 years. But if you dont know a single person who does this, you probably dont know many people that have decent cars.
Posted on 8/25/17 at 11:37 am to NYCAuburn
quote:
people spend more on cars than their education....
This doesn't seem right.
Posted on 8/25/17 at 11:38 am to Breesus
quote:
Schools raising prices because the government guarantees their checks is obnoxious
This. This. All of this.
Posted on 8/25/17 at 11:39 am to NYCAuburn
quote:
But if you dont know a single person who does this, you probably dont know many people who are hopelessly irresponsible.
FIFY
Posted on 8/25/17 at 11:39 am to Peazey
quote:
This doesn't seem right.
It's not. There was no way in hell I was going to get a $30K+ car coming out of college with student loans on top of that.
Posted on 8/25/17 at 11:40 am to NYCAuburn
Saying one year costs $11k is misleading. It's $11k + the COL. How is that the colleges fault? Because when they set tuition prices they need to factor in the COL.
Posted on 8/25/17 at 11:42 am to TheOcean
quote:
the COL. How is that the colleges fault? Because when they set tuition prices they need to factor in the COL.
So the cost to live is the colleges fault? Do you not pay to live if you dont go to college? Posted on 8/25/17 at 11:44 am to NYCAuburn
You don't set tuition prices in a vacuum. Even living extremely inexpensively without the help of parents would cost someone ~1k/month. Your $11k/year, which is "no big deal," is now at least $23k/year.
Now the $11k/year doesn't seem so reasonable. Especially for a state school. Why does LSU and other state schools get away with it? Federal student loans.
Now the $11k/year doesn't seem so reasonable. Especially for a state school. Why does LSU and other state schools get away with it? Federal student loans.
This post was edited on 8/25/17 at 11:46 am
Posted on 8/25/17 at 11:45 am to Peazey
School loans are not a scam, but I do wish they would look into what is going on with school textbooks. A teacher gets a kickback to require a certain book so the publisher can basically charge whatever they want. The professor should be using the best textbook available, not the one that gives the most kickback. I stopped by a college campus recently to purchase a new land surveying textbook and they were asking $260 for it. So I started browsing around at the other books and couldn't believe how much the price of textbooks had gone up. I still have many of my engineering textbooks and still use them from time to time. But at the current cost, I would not have been able to justify not selling them back.
Posted on 8/25/17 at 11:51 am to TheOcean
quote:
Even living extremely inexpensively without the help of parents would cost someone ~1k/month. Your $11k/year, which is "no big deal," is now at least $23k/year.
again, those cost are not exclusive to college, you pay that whether you go to college or not. How you choose to finance that portion of your life is not the fault of the school.
Also, how much do you think tuition would be if the schools received no support from the government? You can also choose your school/tuition. The "scam" here is the people making the decisions(students and parents) to spend the money, not the system.
Posted on 8/25/17 at 11:53 am to NYCAuburn
So we should just ignore COL when talking about how much college really costs? You'd make a great legislator.
Page 2 of 4
Popular
Back to top
Follow TigerDroppings for LSU Football News