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Started By
Message
re: WSJ: student loans restrictions coming for schools with bad graduate repayment data
Posted on 5/6/25 at 6:15 am to coolpapaboze
Posted on 5/6/25 at 6:15 am to coolpapaboze
quote:
it's going to be really ugly.
It's been really ugly on college campuses for a while now..
0
Posted on 5/6/25 at 6:23 am to HailHailtoMichigan!
We should only be subsidizing, or lending toward, the amount of jobs the degree supports. We should also be lending at lower interest rates for educations that fill in-need jobs.
The problem with colleges is the massive expansion in admin and building costs. They're regime building just like corporate America does.
The problem with colleges is the massive expansion in admin and building costs. They're regime building just like corporate America does.
Posted on 5/6/25 at 6:30 am to Gee Grenouille
quote:
The problem with colleges is the massive expansion in admin and building costs.
I am a graduate of the University of Wisconsin system so I follow their news and the current governor has set tax increases for 400 years into the future to fund the university system and no one saw an issue with it.
The UW system has been crying about a lack of funding despite holding a massive war chest. To add more insult to injury if you investigate the numbers for the system you will find that total enrollment is down around 30k students but during that time they've added 8k administrative positions. Yet they can't figure out what the issue is with their finances.
Posted on 5/6/25 at 6:30 am to HailHailtoMichigan!
The federal government needs to step away from higher education, especially loans.
Posted on 5/6/25 at 6:43 am to elprez00
quote:
For the last 30+ years business has shifted to require degrees for just about everything. They did this to eliminate the need for training and true internship.
Eh, bullshite.
They did it because more and more people had college degrees, so it became an easy screening tool. Training has little to do with it. An art history or general studies degree isn’t reducing the amount of training you need to become a retail manager.
What you’re saying may be true when it comes to 2-year technical programs, but not bachelor’s degrees.
Posted on 5/6/25 at 6:57 am to HempHead
quote:
Bankruptcy can be applied to nearly all other forms of debt. I don’t see any good reason why student loans, of all things, would be excluded.
If we are going to compare these loans to bank loans, what is the collateral or basis used to approve the loans in the first place. If you want an unsecured loan, they do a credit check and limit what you can borrow, and charge your interest accordingly. There is no securing a student debt note currently.
Student loans are nothing like private institution loans.
Posted on 5/6/25 at 7:25 am to The Baker
Government Student loan debt is not dischargeable as a trade for not having a credit check.
Posted on 5/6/25 at 7:30 am to LSUFanHouston
Then why do they credit check co-signers?
Posted on 5/6/25 at 8:39 am to lostinbr
quote:
What you’re saying may be true when it comes to 2-year technical programs,What you’re saying may be true when it comes to 2-year technical programs,
To get a Journeyman HVAC + Electrical certificate from Wharton County Junior college is $4k. Total. One useless MBA class is costing me that much.
But somehow we need Mike Rowe out there begging for people to get into jobs that can clear $60-90 an hour just being a worker bee.
Posted on 5/6/25 at 9:29 am to HempHead
quote:
Bankruptcy can be applied to nearly all other forms of debt. I don’t see any good reason why student loans, of all things, would be excluded.
if you take away the Bankruptcy Discharge protection, then you will see a limit on loans and a much higher interest rate. Look at credit cards, the other Major collateral free loans. 22%+ interest, and most capped around $10k or less.
Your colleterial is you future earning potential. you can look at the income based repayment plans as a "future income collateral" being taken back until debt is payed off
With discharge through bankruptcy then you will see a large portion of graduates immediacy declaring bankruptcy after getting their degree, Sure it will mess up their credit for 7-10 years, but those with 6 figure SLs wont be buying a house in 7-10 years anyways......
Posted on 5/6/25 at 11:27 am to The Baker
quote:
Then why do they credit check co-signers?
You might be thinking of private student loans
Posted on 5/6/25 at 11:39 am to LemmyLives
quote:
But somehow we need Mike Rowe out there begging for people to get into jobs that can clear $60-90 an hour just being a worker bee.
He does some good work, but it is interesting he waxes poetic about how great these jobs are, yet he’s been in tv for 40 years and shows up for a day then packs it up and heads out
Posted on 5/6/25 at 12:03 pm to HailHailtoMichigan!
Easy student loans are the very reason tuition has spiraled out of control.
It's gone up way faster than inflation by like a factor of 10
It's gone up way faster than inflation by like a factor of 10
Posted on 5/6/25 at 12:04 pm to HailHailtoMichigan!
We definitely have enough data at this point to tie the earning potential of your degree to the amount that you’re able to borrow. Loaning someone $90,000 for a mass comm or art history degree is basically a payday loan.
Posted on 5/6/25 at 12:05 pm to HailHailtoMichigan!
southern and grambling about to pull a muscle reaching for their race card on this one
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