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What/who convinced so many young Americans that capitalism is to blame for student debt?
Posted on 11/3/19 at 10:37 am
Posted on 11/3/19 at 10:37 am
Very few if any economists believe “capitalism” is why tuition is so high in America. So why then do 22 year olds graduate with mountains of debt and become so attracted to the message that capitalists are to blame for their predicament?
I have sympathy for the crushing debt that prevents dreams and starting a family, I just get frustrated when these people let bad actors convince them this crushing debt is due to lack of govt and/or capitalism.
You guys underestimate how big of a role student debt plays in the ideological configuration of young, budding Americans. It is the number one reason why capitalism is declining in popularity among those aged 18-30.
I have sympathy for the crushing debt that prevents dreams and starting a family, I just get frustrated when these people let bad actors convince them this crushing debt is due to lack of govt and/or capitalism.
You guys underestimate how big of a role student debt plays in the ideological configuration of young, budding Americans. It is the number one reason why capitalism is declining in popularity among those aged 18-30.
This post was edited on 11/3/19 at 10:41 am
36
Posted on 11/3/19 at 10:38 am to HailHailtoMichigan!
Anyone who believes this loses the right to call themselves educated
Posted on 11/3/19 at 10:39 am to HailHailtoMichigan!
Just like everything else in their lives, they just want someone else to pay for their bad decisions.
Posted on 11/3/19 at 10:39 am to HailHailtoMichigan!
very simple answer dude: feminists
Posted on 11/3/19 at 10:42 am to HailHailtoMichigan!
Have $139k exactly in debt. First payment is due next month.
I realize that I have nobody to blame but myself that I chose a career path that involved taking on that kind of debt and that I could have skipped college altogether or chose a path that costs way less.
Have zero sympathy for anyone in debt
I realize that I have nobody to blame but myself that I chose a career path that involved taking on that kind of debt and that I could have skipped college altogether or chose a path that costs way less.
Have zero sympathy for anyone in debt
Posted on 11/3/19 at 10:42 am to HailHailtoMichigan!
It’s the exact opposite. It’s actually public schools and government working together to raise their tuition and the government loans out more loans than it needs to to pay for college. Creates a vicious circle and therefore does not have any bases on a capitalistic system. A true capitalistic system would keep tuition down to what people could afford.
This post was edited on 11/3/19 at 10:44 am
Posted on 11/3/19 at 10:43 am to HailHailtoMichigan!
Posted on 11/3/19 at 10:44 am to HailHailtoMichigan!
quote:
bad actors convince them this crushing debt is due to lack of govt and/or capitalism.
The bad actors in this case are the universities that make an absolute killing with student loans and brainwash our youth that conservatives and the government is responsible for this.
Tucker Carlson has called out these schools for this predatory behavior. Student loans has built an entire industry in academia and these universities will be absolutely hell bent against any reform of student loans.
However, what needs to happen is for government to seize the endowments of these universities and use them to fund a student debt jubilee, especially for students with worthwhile degrees that has a very high earning potential.
This post was edited on 11/3/19 at 10:48 am
Posted on 11/3/19 at 11:10 am to Sentrius
quote:
The bad actors in this case are the universities that make an absolute killing with student loans and brainwash our youth that conservatives and the government is responsible for this.
You could have just said “I don’t understand market forces” and saved a little bandwidth.
Posted on 11/3/19 at 1:21 pm to HailHailtoMichigan!
I like the idea to make universities a cosigner on the student loans.
Posted on 11/3/19 at 1:26 pm to HailHailtoMichigan!
They blame capitalism for everything. Police brutality is somehow capitalism’s fault. Socialism fails also somehow capitalism’s fault.
Posted on 11/3/19 at 1:31 pm to HailHailtoMichigan!
Speaking of bad decisions re: college. If you get an athletic scholarship to college there is a 95% chance that you will never earn a dollar playing as a pro.
If you don't use that scholarship to get a valuable degree then you chose a hard life. Don't blame capitalism.
If you don't use that scholarship to get a valuable degree then you chose a hard life. Don't blame capitalism.
Posted on 11/3/19 at 1:34 pm to chity
quote:
I like the idea to make universities a cosigner on the student loans.
The situation is caused by government distorting the market with guaranteed loans and cheap money. The answer isn’t more government, it’s removing the distortion government created in the first place.
Posted on 11/3/19 at 1:42 pm to WaydownSouth
quote:
Have $139k exactly in debt. First payment is due next month. I realize that I have nobody to blame but myself that I chose a career path that involved taking on that kind of debt and that I could have skipped college altogether or chose a path that costs way less.
Did your parents save anything for your college education?
Posted on 11/3/19 at 2:48 pm to texashorn
quote:
Did your parents save anything for your college education?
Mine didn't. 17 year old me calculated what my monthly payment on a 10-year schedule (original term), accounted for 4 years of the same loan dollar amount and interest rate, and came up with something near $125/m. So then I asked my parents whether $125/m was going to represent a significant burden on the monthly income of a job that someone with a college degree would get, because if that was too much, I was going to go to a different school where I got a better scholarship.
I didn't realize this was not the standard line of thinking for a 17 year old until recently.
Of course, I went on to take an additional 15x that amount for medical school, but I'll have it paid off far faster than the original term. It isn't hard to live within your means and not spend money that you can't repay.
Posted on 11/3/19 at 2:52 pm to HailHailtoMichigan!
quote:
You guys underestimate how big of a role student debt plays in the ideological configuration of young, budding Americans. It is the number one reason why capitalism is declining in popularity among those aged 18-30.
I do think it has some effect. It's less risky to take a steady job for a corporation, hospital, large entity and have a gauranteed paycheck to payback loans... Than to attempt to start a small business/practice etc which means taking out business loans when you already have large looming student debt burden.
When you're not the controller of your work and just another cog in the machine or making money for the "man", you can see the dissent from it.
But with that said, I have no sympathy. It's an opportunity cost. It's the govt didn't provide an almost limitless access to Federal loan money to go get degree from a 60k/yr university, we wouldn't be in such a state as we are now.
Posted on 11/3/19 at 3:05 pm to HailHailtoMichigan!
College teachers are the majority of the problem. They indoctrinate the Hell out of their students
Posted on 11/3/19 at 3:18 pm to HailHailtoMichigan!
quote:
HailHailtoMichigan!
Who convinced you that you need to post a thread for every thought that pops into your head?
Posted on 11/3/19 at 3:23 pm to texashorn
No.
Undergrad I got an academic scholarship and worked and didn’t take out anything.
They contributed $500 a month while I was in grad school to pay my rent. I took out loans for tuition, food, internet/tv/electric bills, gas, etc
Undergrad I got an academic scholarship and worked and didn’t take out anything.
They contributed $500 a month while I was in grad school to pay my rent. I took out loans for tuition, food, internet/tv/electric bills, gas, etc
Posted on 11/3/19 at 3:30 pm to Flats
quote:This. Obama turned it all over to the govt. in 2010, with the same bullshite excuse. Thus, schools cranked up the tuition and fees and are fast reaching "too big to fail" statue.
The situation is caused by government distorting the market with guaranteed loans and cheap money
Basically, a huge gift to his marxist buddies in academia and of course, the banks above all.
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