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re: how to solve the student loan crisis?
Posted on 11/13/20 at 1:07 pm to bdavids09
Posted on 11/13/20 at 1:07 pm to bdavids09
It’s several factors.
So budgets are more bloated than ever, but...
Government regulations have some of the blame. And...
Plus...
The actual concept of college has changed over the last couple of generations.
LINK Forbes Magazine
quote:
administrative spending comprised just 26% of total educational spending by American colleges in 1980-1981, while instructional spending comprised 41%. Three decades later, the two categories were almost even: administrative spending made up 24% of schools’ total expenditures, while instructional spending made up 29%.
So budgets are more bloated than ever, but...
quote:
The resources required are not insignificant: a Vanderbilt study of 13 colleges and universities found that regulatory compliance comprises 3 to 11% of schools’ nonhospital operating expenses, taking up 4 to 15% of faculty and staff’s time.
Government regulations have some of the blame. And...
quote:
And on a deeper level, colleges and universities are simply being asked to do more. Families expect their sons and daughters to have access to career assistance, readily available health services or counselors if they’re struggling with a mental illness.
Plus...
quote:A change in mind set about how colleges should interact with their students.
you’ve got first-generation students, you’ve got a lot of people who weren’t born in the United States who are coming from families without a higher education background, and simply letting them in the door doesn’t work.”
The actual concept of college has changed over the last couple of generations.
LINK Forbes Magazine
This post was edited on 11/13/20 at 1:11 pm
1
Posted on 11/13/20 at 1:10 pm to alajones
I think something has to be done about student loans. A certain level, 50/50 perhaps of forgiveness, but the system needs to be changed to where it doesn’t happen again. The govt is to blame just as much as the doofuses who took out all that money.
Maybe make it to where only tuition can be taken out and not just a bunch of extra money. Or maybe the student has to also meet a certain “deductible” per semester of their own money. That’d weed out a lot of people who aren’t really serious.
Maybe make it to where only tuition can be taken out and not just a bunch of extra money. Or maybe the student has to also meet a certain “deductible” per semester of their own money. That’d weed out a lot of people who aren’t really serious.
Posted on 11/13/20 at 1:18 pm to Tchefuncte Tiger
quote:
Stop lending money to high risk borrowers and those getting non-marketable degrees would be a good first step.
Most of the ones in trouble have no degree to show for it.
quote:
The default rate among borrowers who didn't complete their degree is three times as high as the rate for borrowers who did earn a diploma.
LINK
Posted on 11/13/20 at 1:21 pm to bdavids09
quote:
how to solve the student loan crisis?
Start tying student load amounts to employability prospects and future salary potential.
Posted on 11/13/20 at 1:23 pm to TigerstuckinMS
Make students qualify for the loans just like other people do when wanting to borrow money. Why give a loan out to a C/D student in high school that is going to a crappy business school?
Posted on 11/13/20 at 1:26 pm to Tiger Prawn
quote:
Because Fauxcahontas is trying to become Treasury Secretary and get Biden to forgive student loans via executive order and bypass Congress
That should thoroughly debunk the concept of democracy for any thinking person, if it happens.
Posted on 11/13/20 at 1:35 pm to bdavids09
quote:
how to solve the student loan crisis?
What crisis? Pay your damn bills.
Posted on 11/13/20 at 1:47 pm to bdavids09
get the government out of it
Posted on 11/13/20 at 1:58 pm to tigergirl10
quote:
$30,000
$30k over a 10 year repayment period means monthly payments of roughly $313/month with interest included. If that is "crippling" you chose a poor career, which is sort of the bigger issue. We let people get student loan debt with no chance of a job to repay it.
quote:
Add in mortgage debt
If you can't afford the $313 student loans you have absolutely no business buying a home.
quote:
credit card debt
Take some damn personal responsibility. No one should ever have credit card debt.
Poor planning on your part does not equal an emergence on mine.
Posted on 11/13/20 at 2:00 pm to lionward2014
People buying a house with credit card debt and a student loan outstanding are the reason Dave Ramsey will never go out of business
What a series of horrible decisions
What a series of horrible decisions
Posted on 11/13/20 at 2:09 pm to CunningLinguist
quote:
The real answer is not every one needs a 4 year degree to make a decent living but it’s the expectation put on HS students and promoted by schools. Too many students in questionable majors and too many 4 year colleges is my answer. Address that
It's not just the schools.
Several businesses have positions that used to not require a degree but only specialization certs that were typically paid for by the company that now require a 4-year degree. I was helping one of my students look for something part-time recently and came across multiple administrative assistant jobs that "preferred" an associates or a 4-year degree. A fricking secretary doesn't need a degree.
This post was edited on 11/13/20 at 2:10 pm
Posted on 11/13/20 at 2:18 pm to bdavids09
Why is it a crisis? It wasn't a crisis when I paid mine off. It's a crisis because people take the loan with no intention of paying it back.
Posted on 11/13/20 at 2:21 pm to Saint Alfonzo
quote:
how to solve the student loan crisis?
What crisis? Pay your damn bills.
This isn't a crisis, this is pandering to those who want to be irresponsible deadbeats. You got the money, you signed the paper, pay it back. Just be glad you didn't borrow from a loan shark.
Posted on 11/13/20 at 2:21 pm to Saint Alfonzo
quote:
What crisis? Pay your damn bills.
This 1000%. WTF are you people even talking about?
Posted on 11/13/20 at 2:23 pm to bdavids09
quote:
why do colleges charge so much that people need crazy high loans. SO most of these universities have tens of thousands of studens who pay tuitoin and they are getting government support, grants, donations etc. they are taking in huge revenue. Are the professors over payed? are they offering to many unnecesssary degreees? It just seems there has to be a better way to run it than the way it is now.
Administrative bloat - too many administrators, if someone is there for X year they become a dean. You look at how many administrators a college has per student an it has grown like 3x (this doesn't include teachers mind you). Too many schools as well, spending a ton of money on buildings, etc., not focusing on trade schools at all, federally guaranteed loans, etc.
Posted on 11/13/20 at 2:36 pm to bdavids09
quote:
how to solve the student loan crisis?
Drop all art and poetry degrees and force ppl to get real jobs. Done.
Posted on 11/13/20 at 2:50 pm to bdavids09
Pay back the money you borrow. Don't get worthless degrees.
Posted on 11/13/20 at 2:56 pm to bdavids09
Higher education needs a complete overhaul to make college more financially feasible and students need to focus on getting ready for the job market, not studying useless crap and “exploring their boundaries”
Posted on 11/13/20 at 2:58 pm to TexasTiger08
Exactly. The majority of college students have no business being there
Posted on 11/13/20 at 3:00 pm to red sox fan 13
Know a gal that got a 30k/year degree in history.
shes now in nursing school
shes now in nursing school
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