re: College loans are a scam

Many states minors can easily get out of contracts. But hell, when you hit big ole 18 you can sign your life away. Very few 18 year olds actually understand what they're signing when it comes to student loans

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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.

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4.5 years
2.84 GPA
Interdisciplinary Studies with concentrations in Business, History, and Political Science

And the State of Louisiana now literally allows me to charge people money for my advice and to advocate for their interests. Only in America

pretty much. I actually got the hours in each subject to get a minor in each and LSU had a degree that allowed me to get a BA based on that.

30-40% of the 1.3 trillion is from after the feds took back over. I love how the video tries to frame the banks as always the bad guys.... well then what the heck are the feds now?! A lot worse in reality

The real problem is easy credit and people keeping up with the Joneses.

The average household in Louisiana makes $63,904 before taxes, $49k and change after.

Two $28k(average new car price) cars will be a little over $1k/month. ($12k/yr)

Average home price in Louisiana is $145,200. ($8,244/yr in payments)

You are already down to $28,756 without paying for utilities, food, insurance, gas, cell phone, student loans, clothes, etc.

People need to stop being stupid with money.

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in state tuition at LSU is roughly 11k a year

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Look at it for 2003-2004 LINK


Full-Time Tuition & Fees
2003-2004

Undergraduate
Resident Non-Resident
Fall 2003 $1,952 $4,602
Spring 2004 $1,958 $4,608
Total $3,910 $9,210

In 14 years, tuition has nearly tripled. That's not even addressing the other, more obvious factors of increasing prices: student housing, utilities, textbooks and supplies, transportation, food, etc...

Too many people are admitted to colleges. A college degree isn't worth the value it once had. College tuition prices have seen steady increases throughout the past decade (we're talking about doubling tuition costs).

Furthermore, student loans are non-dischargeable debts in bankruptcy. Of course the DOE will lend it out. Why wouldn't they? The debtor can go through their bankruptcy and receive their discharge and voila! Navient or Sallie Mae is right there - all while interest is accruing.

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So we should just ignore COL when talking about how much college really costs? You'd make a great legislator.

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Do you have to pay COL if you dont go to college? No

Basically you want someone to finance a sabbatical from the real world at a cheaper than reality rate plus provide career/life skills and education, all financed into a 10 year plus loan. You sound like an actual politician....


An average HS graduate makes 30k a year, the average american makes 26k a year, the average college grad makes 50k a year. You can go work and make 26-30k a year or take a year off and get a loan for 25k. seems like a great trade off considering after 4 years the extended pay will be earned back fairly quickly. Again, people are willing to purchase material goods rather than invest in future income. The problem is with the people making those decisions, not the people offering the option of education and life. Those people are choosing to go away, live beyond their means, get high loans, because their parents dont teach them consequences..."everyone gets a trophy" You dont have to spend 25k a year on college, you choose to.

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...except the majority of people don't live with their parents while going to LSU, so when you add in all fees, room and board, meal plans, etc., it's more like $25,000/yr. and $100,000 total.

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I didnt realize it was the only college in the state...

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Your logic is slightly flawed here. Education leads to a better society....debt doesnt help society get better.

College should think more about trying to educate more and more people rather than enticing more and more people to go into debt.

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Your flaw is that education is very affordable if you do it correctly, it is also an investment into future earnings. again the people choose to spend more than they should. Why is it someone else responsibility to make their own life choices?