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Message
re: What/who convinced so many young Americans that capitalism is to blame for student debt?
Posted on 11/4/19 at 11:00 am to HailHailtoMichigan!
Posted on 11/4/19 at 11:00 am to HailHailtoMichigan!
When you make getting a loan easy and easing the underwriting guidelines, more people will take loans out to pay for college. Likewise with debt so easy to obtain and limits forever increasing, the universities will look at it and ask for more money and thus the increase in tuition.
Capitalism is to blame, but that is how this works.
The biggest problem with student loans is the fact that they are secured and insured by the US Dept of Education against default. In essence there is no risk to the lender. Plus they can comeback and collect on the defaulted debt.
Capitalism is to blame, but that is how this works.
The biggest problem with student loans is the fact that they are secured and insured by the US Dept of Education against default. In essence there is no risk to the lender. Plus they can comeback and collect on the defaulted debt.
2
Posted on 11/4/19 at 11:11 am to Bham4Tide
quote:
Something that valuable SHOULD be cheap
it isn't too bad if you stay local and do JUCO
sure it's more expensive now than 10-15 years ago and that is a problem, but it's still relatively cheap
the issue is you almost never hear horror stories about people who take that path. it's always people who choose private schools
and how do you figure we can force private schools to lower tuition?
Posted on 11/4/19 at 11:18 am to LSUFanHouston
quote:
It's our generation - not theirs - that keeps jacking up the costs of college
No one "jacks up the cost".
The cost is a direct reflection of demand which, is currently subsidized by a shite ton of money that, from the debtor's perspective, is basically free at the time of agreement.
Go create a federally subsidized auto loan system after deciding transportation is immensely important and see how fast a Ford Focus finds it's way to costing $80K.
quote:The "older generation" of the late 80s early 90s tried to increase performance restrictions on federally subsidized debt and the left and young people reacted like a bunch of chimpanzees who'd been lit on fire.
Older generations used to take responsibility for - and look after - the younger generations. We have said F them... they are on their own, while making decisions that continually screw them.
Every older person that tries to cut off the spigot of free money for college is portrayed as anti-education.
I'm sorry. I'm not buying this whole "it's all old people's fault" shite when the kid is still rolling around on the floor kicking his feet and demanding MORE free money!
Posted on 11/4/19 at 11:20 am to LSUFanHouston
quote:I agree with you here. But, let's get a crack more specific here.
We tell 18, 19, and 20 year olds that they aren't old enough to buy alcohol, but they are old enough to sign on the line for 10s of thousands of dollars of student loan debt.
This isn't an "old people" problem. This is an OLD LEFTIST problem.
Sorry. We conservatives have NEVER supported this shite..........we've been railing against it for decades.........and, when we do......we are portrayed as hating education.
And, no offense, but, I can fit all the conservatives running major universities in Toddy's a-hole.
Dirty secret here is, for all the leftist whining about "predatory lenders" in other economic areas, the left has perpetrated BY FAR the biggest predatory lending scheme in American history.
Posted on 11/4/19 at 11:35 am to Mr Perfect
quote:
how many men around that are simply brainwashed, and would quickly understand what we are saying if they only had access to the right information. Its hard to call others traitors when I myself was a brainwashed idiot when i was in my teens
quote:
But i have no other option than supporting what you said dude. although you talk like a boomer so I'm skeptical of your intelligence
Where were your parents ?
If they wronged you , I hope you treat them as the plague and avoid them.
Posted on 11/4/19 at 11:42 am to Bham4Tide
quote:
Stop trying to bring ideology into a discussion that should not involve it. Teaching your citizens to be better, more informed, and more skillful is an investment in one’s country. This is not about free market, this is about our livelihood as a nation. Go read more on this dude.
Hey dude !
Life is about choices.
I pay for MY choices.
YOU pay for YOUR choices.
Your dad never taught you that ?
Posted on 11/4/19 at 12:02 pm to laxtonto
quote:
Many students are still stuck on the unique snowflake idea that they can be anything that they want and never really understand that that comes at a cost. If you are truly exceptional in an area that has lower pay, your cost will be defrayed via scholarships , but if you aren’t and you continue down that path you and only you made the choice of your debt.
What world do you live in? I’m in the one where you can be anything you want to be if you work hard enough at it, sheesh.
Posted on 11/4/19 at 12:02 pm to Bham4Tide
quote:
Something that valuable SHOULD be cheap.
quote:Well, that makes no sense. If we educate a bunch of people and make them more valuable... shouldn't their income and livelihoods become lower?
This is not about free market, this is about our livelihood as a nation. Go read more on this dude.
Posted on 11/4/19 at 12:03 pm to HailHailtoMichigan!
Government controlled education.
Posted on 11/4/19 at 12:10 pm to LSUFanHouston
quote:Ok Boomer.
We - the sage older adults - all know what the problems are, yet, we - the sage older adults - aren't taking any steps to fix it.
But you're selling kids short. You can look at HopefulDoc's post earlier in this thread of what 18 year olds are capable of. If kids can't do simple choice-consequence problem solving of signing onto debt -- they don't belong in college.
And that's part of the problem. Loans are offered on need not merit.
Posted on 11/4/19 at 12:12 pm to KiwiHead
quote:
Capitalism is to blame ... The biggest problem with student loans is the fact that they are secured and insured by the US Dept of Education against default. In essence there is no risk to the lender.
Posted on 11/4/19 at 12:12 pm to Bham4Tide
quote:
What world do you live in? I’m in the one where you can be anything you want to be if you work hard enough at it, sheesh.
That is the problem... participation, even dogged participation with tireless hours of effort, does not mean that when completed you are exceptional at your job, only stubborn.
We reward participation and not excellence with the everyone gets a trophy child rearing experiment because we didn't want to hurt peoples feelings and now we have a generation that does not understand that excellence is the only thing that gets financially rewarded in the real world, not just sticking it out to the end.
Posted on 11/4/19 at 12:17 pm to laxtonto
I’d hire someone who worked their tail off to get where they are over someone who didn’t.
I’ve met a lot of educated derelicts in my life.
I’ve met a lot of educated derelicts in my life.
Posted on 11/4/19 at 12:18 pm to HailHailtoMichigan!
quote:
What/who convinced so many young Americans that capitalism is to blame for student debt?
The people that ran up the student debt problem with government programs.
Posted on 11/4/19 at 12:20 pm to KiwiHead
quote:
Capitalism is to blame, but that is how this works.
The biggest problem with student loans is the fact that they are secured and insured by the US Dept of Education against default. In essence there is no risk to the lender. Plus they can comeback and collect on the defaulted debt.
Um, you can't have the government come in and completely break the primary mechanisms within capitalism that control costs and then blame capitalism for not controlling costs.
Just sayin.......
Posted on 11/4/19 at 12:32 pm to Bham4Tide
quote:
I’d hire someone who worked their tail off to get where they are over someone who didn’t.
I’ve met a lot of educated derelicts in my life.
I will gladly hire someone who works hard, but that is not the sole criteria. Determination and effort is fine, but you have to have the necessary skill to show that you can do what I need done. The problem here is that we have a group of graduates that want to be paid like they are exceptional and instead are just hard workers, that though commendable, does not make you special, unique, nor irreplaceable.
Hard work can only get you so far.
Posted on 11/4/19 at 1:54 pm to cahoots
quote:
In the accounting world, the CPA license is king. For no good reason, most states have forced people to earn 150 college credit hours to sit for the exam. It used to be 120 hours (the average number of hours to earn a BS).
So, in practice, a CPA today requires the equivalent of an MS rather than just a BS.
And yes, I understand that the state grants these licenses. But industry did not oppose these maneuvers.
It’s just become necessary to get more education than ever to do the exact same thing that the previous generation did with less.
As an accountant who endured this dumb rule, I will add that there is no additional accounting requirements. It's a grift between the state boards and universities to increase the barrier to entry and cost of education for future accountants.
This post was edited on 11/4/19 at 2:34 pm
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