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Started By
Message
re: How Government-Guaranteed Student Loans Killed the American Dream for Millions
Posted on 2/26/19 at 1:52 pm to Carson123987
Posted on 2/26/19 at 1:52 pm to Carson123987
Currently paying for one kid in college. My goal is to get him out of there with a degree in something practical with no debt. It's hard because the gov't has screwed everything up.
0
Posted on 2/26/19 at 1:53 pm to Tigeralum2008
quote:
Didn't Bernie say he would do something like that?
Bernie wants damn near everything to be "free". What he doesn't tell you is that we will all have to pay 60-70% tax rates for all of this free shite.
Posted on 2/26/19 at 1:54 pm to go ta hell ole miss
quote:
Agree. This is Generation E will finally come out to vote. Generation Entitlement is going to be tough in the upcoming elections.
Entitled!? Name a generation that received more hand outs than the baby boomers? The same baby boomers that created this shite show of a society we have now.
Posted on 2/26/19 at 1:54 pm to Clyde Tipton
quote:
The last 30 years, kids have been told they should all go to college
You're partially right. It extends way beyond 30 years. It's just that the higher education system has jacked up the cost in the last 30 years requiring students to take on massive debt to get a college education. Boomers had it drilled into their heads that they had to go to college as well. It's not a recent thing.
quote:
Not everyone is meant to go to college. The world needs ditch diggers too
Eh. America needs people in skilled trades. You don't have to dumb it down to ditch diggers. We need more plumbers, electricians, carpenters, etc and all of those trades can provide a damned good living.
Posted on 2/26/19 at 1:56 pm to X123F45
quote:
I have no mortgage because I have a house that's paid for, but I have student loan debt so it's basically the same thing
Must be nice. We've got the mortgage and the student loan debt and they are both about the same number. If everything stays on our 10 year plan, then only four more years of student loan debt.
Posted on 2/26/19 at 1:56 pm to Carson123987
quote:
Finally, the current system of student loan financing needs to be reformed. Schools should not be given a blank check, and the government-guaranteed loans should only cover a partial amount of tuition. Schools should also be responsible for directly lending a portion of student loans so that it’s in their financial interest to make sure graduates enter the job market with the skills and requirements needed to get a well-paying job. If a student fails to pay back their loan, then the college or university should also share in the taxpayer’s loss. Only when the demand for higher education decreases will we witness a decrease in its cost
This! Also the rising costs of textbooks should be addressed. The cost of higher education is insane.
Posted on 2/26/19 at 1:56 pm to Clyde Tipton
quote:
Back in the day two types of people went to college. Kids whose family could afford it, and the brightest of the bright who got scholarships.
Back in the day, the federal government paid for millions of GI's to go to college who wouldn't have otherwise been able to. Then in the 70's, the federal government paid for millions of low income kids to go to college who wouldn't have otherwise been able to. But back in the day, the states and federal government provided increased funding to expand campuses and create new universities to educate all these additional students.
Posted on 2/26/19 at 1:57 pm to Pelican fan99
quote:
Government ruins everything it touches.
Yep
Posted on 2/26/19 at 1:57 pm to fallguy_1978
quote:
I'm glad that I went to college when it was comparatively cheap. I have 2 degrees from LSU and graduated with zero student loan debt.
Full time tuition has nearly doubled at most Louisiana state schools from when I started until now. And this is with budget cuts, professors leaving, etc.
It's a racket that will eventually implode.
Posted on 2/26/19 at 1:58 pm to Clyde Tipton
quote:
The last 30 years, kids have been told they should all go to college. Advanced degrees have more than doubled the last 20 years diluting the work force pool and increasing student loan debt substantially.
Yep. Now a masters degree holds the same worth as a Bachelors Degree, if not lower.
Posted on 2/26/19 at 1:59 pm to Carson123987
quote:
Schools should also be responsible for directly lending a portion of student loans so that it’s in their financial interest to make sure graduates enter the job market with the skills and requirements needed to get a well-paying job.
Support.
Private industry needs to also get more involved. If universities are going to be recruited by industry, then they could invest in their future workforce by providing partial scholarships. More then they do now, of course.
Posted on 2/26/19 at 2:01 pm to NIH
quote:
Full time tuition has nearly doubled at most Louisiana state schools from when I started until now. And this is with budget cuts, professors leaving, etc.
Tuition at LSU was like 1k when I was at LSU. It might have gotten closer to 2k by the time I was finished.
Posted on 2/26/19 at 2:02 pm to Carson123987
quote:
Financially, it makes no sense to take out a $165,000 loan for a master’s degree that leads to a job where the average annual salary is $38,000—yet thousands of young people are making this choice.
Posted on 2/26/19 at 2:04 pm to fallguy_1978
It was $2500 (before TOPS) in 2011 and is now over $5000 for a full time student in 2018-2019. shite, it's gone up over $2000 just since 2014.
Posted on 2/26/19 at 2:05 pm to Carson123987
This is what happens when people aren't required to be responsible for their choices. The government backs these loans that literally anyone can get without underwriting. Free money in a capitalist system. Why wouldn't the capitalists raise prices through the roof. They'll get their money no matter what.
Posted on 2/26/19 at 2:05 pm to VABuckeye
quote:
Eh. America needs people in skilled trades. You don't have to dumb it down to ditch diggers. We need more plumbers, electricians, carpenters, etc and all of those trades can provide a damned good living.
Let's be honest here
Even a shitty white collar job is better than the day to day life of a plumber, carpenter, welder, etc. Maybe it doesn't make the most financial sense for some people but the reason most make that choice (to go to college) is because the blue collar world sucks.
Posted on 2/26/19 at 2:05 pm to Carson123987
I am so sick of hearing this BS.
I used student loans. I paid them off in 3.5 years and I started off my first job out of college making $10/hr.
I used student loans. I paid them off in 3.5 years and I started off my first job out of college making $10/hr.
This post was edited on 2/26/19 at 2:06 pm
Posted on 2/26/19 at 2:06 pm to Carson123987
I got my masters degree in Petroleum Geology to go work for E&Ps. Graduating in the middle of the downturn didn't help at all. I think eventually everything will work out and I'll be able to knock out my debt.
Graduated with a shite ton of debt, had no family help with school money and worked 40 hour weeks but $7.25 barely paid for food and utilities...not even touching rent.
But I think about it everyday, how I f***ed my life up going to school. I consider myself pretty smart, but I still think about going back to electrician school.
Should have never gone, period. But I met my wife at LSU so I guess that's worth all the BS.
Graduated with a shite ton of debt, had no family help with school money and worked 40 hour weeks but $7.25 barely paid for food and utilities...not even touching rent.
But I think about it everyday, how I f***ed my life up going to school. I consider myself pretty smart, but I still think about going back to electrician school.
Should have never gone, period. But I met my wife at LSU so I guess that's worth all the BS.
This post was edited on 2/26/19 at 2:11 pm
Posted on 2/26/19 at 2:07 pm to NIH
quote:
It's a racket that will eventually implode.
Not soon enough though... and when it does it will create an enormous strain on the federal budget.
Posted on 2/26/19 at 2:07 pm to Clyde Tipton
quote:You're missing a group. the poor kid who worked his arse off to pay for it himself along with going to school.
Back in the day two types of people went to college. Kids whose family could afford it, and the brightest of the bright who got scholarships.
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