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The student loan industrial complex
Posted on 8/17/23 at 8:29 am
Posted on 8/17/23 at 8:29 am
A system that feeds on itself.
Article from Reason…
LINK
quote:
government basically vomits money at everyone who applies.
If private lenders gave out the loans, they'd look at whether they were likely to be paid back. They'd ask questions like: "What will you study? You really think majoring in dance will lead to a job that will pay you enough to allow you to pay us back?
quote:
College is good for people who want to be college professors or who major in fields like engineering and computer science that might lead to good jobs. But that's not most people. Government loans encourage everyone to go to college, even if they're not very interested in academics
quote:
Government's handouts also invite colleges to keep raising tuition. Over the past 50 years, college cost rose at four times the rate of inflation. Four times!
Article from Reason…
LINK
23
Posted on 8/17/23 at 8:30 am to TejasHorn
Thanks Obama
Posted on 8/17/23 at 8:32 am to TejasHorn
And it will only get worse with more useless degrees and higher costs. This is what happens when people use other peoples money for platitudes and bullshite programs. 90% of people in higher education would never make it in the real world.
Another industry that will destroy itself, then expect a bailout from the very people they hate with a passion.
Got to hand it to Progressives: they know how to milk everything dry, the get blood from the stone.
Another industry that will destroy itself, then expect a bailout from the very people they hate with a passion.
Got to hand it to Progressives: they know how to milk everything dry, the get blood from the stone.
Posted on 8/17/23 at 8:37 am to TejasHorn
College should be for the rich, the super talented that earn scholarships based on merit and poor guys who can run really fast with a football.
The rest of us should be in trade schools.
The rest of us should be in trade schools.
This post was edited on 8/17/23 at 8:43 am
Posted on 8/17/23 at 8:39 am to TejasHorn
Too much spending on beefing up already bloated administrative staffs with meaningless jobs like diversity officers is the kind of shite that drives up tuition costs significantly.
Unless you come from a rich family who can pay it all out of pocket, stick to a community college for 2 years and transfer to the flagship university in your state. If the location is close, live at home with your parents and the cost will be even lower to where you may not have to take out a single loan. It doesn’t take being a financial genius to figure this out.
But of course Gen Z kids view college as a “vacation” rather than a tool to explore career options. They don’t care one bit about taking out loans if it means being able to have the “college experience”, because to them, posting Instagram pictures of themselves partying at frat houses is more important than having a stable career with no debt
Unless you come from a rich family who can pay it all out of pocket, stick to a community college for 2 years and transfer to the flagship university in your state. If the location is close, live at home with your parents and the cost will be even lower to where you may not have to take out a single loan. It doesn’t take being a financial genius to figure this out.
But of course Gen Z kids view college as a “vacation” rather than a tool to explore career options. They don’t care one bit about taking out loans if it means being able to have the “college experience”, because to them, posting Instagram pictures of themselves partying at frat houses is more important than having a stable career with no debt
This post was edited on 8/17/23 at 8:50 am
Posted on 8/17/23 at 8:40 am to GeauxxxTigers23
quote:
College should be for the rich, super talented that earn scholarships based on merit
So poor super talented have to go to trade schools?
Posted on 8/17/23 at 8:41 am to TejasHorn
What do you think about UT having one of the largest student populations in the country?
Posted on 8/17/23 at 8:41 am to GeauxxxTigers23
Elite colleges are now for the Progressive elite, some minorities, and some athletes (Ivy League for example).
Yes, more people should be in trade school, but the groups that run our colleges will never do the right things to get costs down for middle class folks who can use four year degrees. They run one of the biggest ripoffs in the world, but rail against that type of system elsewhere.
Progressives destroy everything they run. Just another example of this tragedy.
Yes, more people should be in trade school, but the groups that run our colleges will never do the right things to get costs down for middle class folks who can use four year degrees. They run one of the biggest ripoffs in the world, but rail against that type of system elsewhere.
Progressives destroy everything they run. Just another example of this tragedy.
Posted on 8/17/23 at 8:42 am to thermal9221
quote:
So poor super talented have to go to trade schools?
No, poor super smarts kids can go. I’ll add a “the.”
Posted on 8/17/23 at 8:45 am to TejasHorn
Everything the government touches turns to ashes.
I started at LSU in 08. The student loan market was federalized in 10/11. The cost of tuition nearly tripled by the time I graduated in 2013. I was out of state.
The quality of education did not triple, I can assure you.
I started at LSU in 08. The student loan market was federalized in 10/11. The cost of tuition nearly tripled by the time I graduated in 2013. I was out of state.
The quality of education did not triple, I can assure you.
Posted on 8/17/23 at 8:46 am to TejasHorn
This is why nobody with a functioning brain should support blanket student loan forgiveness on its own, regardless of political leanings. Doing so without addressing the root cause is like trying to fix a burst pipe by wiping the floor with a towel.
Posted on 8/17/23 at 8:48 am to fjlee90
quote:
The quality of education did not triple, I can assure you.
I applaud your elegance, good sir. (Or madam, or however...)
Posted on 8/17/23 at 8:48 am to TejasHorn
Every layer of this is a racket. The more useless/harmful it is to the student , the more it perpetuates.
Posted on 8/17/23 at 8:48 am to TejasHorn
The alternative is to put barriers up and only the wealthy can attend college.
Posted on 8/17/23 at 8:50 am to JasonDBlaha
quote:
much spending on beefing up already bloated administrative staffs with meaningless jobs like diversity officers is the kind of shite that drives up tuition costs significantly.
If the feds exited the student loan market universities would right size immediately. Tuition would plummet because the demand at current prices would evaporate.
There would also be a large number of borderline college ready graduates going into the workforce or to trade/2 year schools to figure their shite out until they could afford a 4 year degree.
Posted on 8/17/23 at 8:51 am to AUCE05
quote:
The alternative is to put barriers up and only the wealthy can attend college.
Removing the barrier put us into this situation.
Posted on 8/17/23 at 8:52 am to AUCE05
Before WW2, college was something only the very wealthy could afford. Then it became more affordable for middle-class families. Now it’s revert back to pre-WW2 where only wealthy people can afford to pay for it without loans.
Posted on 8/17/23 at 8:52 am to Ace Midnight
quote:
applaud your elegance, good sir. (Or madam, or however...)
Thank you for not assuming my gender. May you forever be blessed by whatever higher power the progressives are swooning over today.
Posted on 8/17/23 at 8:54 am to GeauxxxTigers23
quote:
College should be for the rich, the super talented that earn scholarships based on merit and poor guys who can run really fast with a football.
That’s like 20% of the country. How much money do you think trade skills will bring in if the majority of workers are in the trades?
Posted on 8/17/23 at 8:56 am to TideCPA
quote:
This is why nobody with a functioning brain should support blanket student loan forgiveness on its own, regardless of political leanings. Doing so without addressing the root cause is like trying to fix a burst pipe by wiping the floor with a towel.
Bingo. There is a reason DC pushes it. Incestuous relationships that repeat the cycle.
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