Degrees For Dollars: Students Petition Uncle Sam To Refund Student Loans For Worthless Diplomas

Zero Hedge ^ | 11/13/2012 | Tyler Durden

[SeekAndFind]

Student debt has seemingly been the transmission channel of choice for pumping credit into the US economy for the last few years as the government addition of $1 trillion has done nothing but leave those under-55 with fewer and fewer jobs (especially above-minimum-wage jobs) while saddled with non-extinguishable debt. Of course, this 'pump' of credit has had the usual unintended 'inflationary' consequence of raising tuition prices (which as we noted this morning was the main driver of inflation in the UK overnight). So what would be fair? Cue: A Petition to "Provide University graduates the ability to trade their Diplomas back for 100% tuition refunds" The hope-driven (or hopelessness) push into higher education (and implicitly higher debt), in a nation where the marginal benefit of Calculus 101 over a strong right 'burger-flipping / coffee-machine-pressing' wrist is falling by the day, seems to warrant further societal protection. All that's needed is 25,000 signatures to move this forward.

We petition the obama administration to:

Provide University graduates ability to trade their diplomas back for 100% tuition refunds.

 

Because of the inability of recent college graduates to find gainful employment in order to repay their college debt, and since this college debt cannot be eliminated in bankruptcy, and most of the recent additions to the job market have been in service related industries, the Obama administration should take up the cause of reducing college debt and hold those accountable responsible.

 

In the name of Consumer Protection, recent college graduates should have the ability to return the diploma and not make any reference to receiving education from the college in exchange for a 100% refund of college tuition. This may be extended with a graduated (ha, get it?) reduction for the last four years, with a red line at January 20, 2008.

 

Click image for a link to the White House petition site...

[PapaBear3625]

Right.... the only good news is that they are asking the schools for the money at this point, not the taxpayers.

Having the school being liable for graduating students who cannot find employment in their field would accomplish two things:

(1) Schools would stop offering majors with high rates of refunds, and

(2) Schools would stop accepting students whose success they have low confidence in.

This would cause screams of racism and sexism, though.

[Repeat Offender]

lOTS OF WORTHLESS DIPLOMAS OUT THERE. WHAT DO YOU GET WITH A DEGREE IN GAY STUDIES?

AIDS

[P-Marlowe]

I thought all these students were getting their liberal arts degrees so they would qualify to be Baristas at Starbucks and Petes.

What happened?

Did Starbucks stop hiring college grads?

[Mamzelle]

Posting headlines without a satire warning really, really frosts me.

[Cyman]

I think it is a great idea!

As long as the student returns any and everything they learned, experienced and screwed while in college and those accompanying memories are wiped out of their brain.

[Oberon]

...thousands more liberal arts graduates who have zero job prospects...

Sometimes this is true, but other times not. It depends very much on the liberal arts grad in question, and how much he is willing to pound the pavement. Liberal arts grads can make pretty good managers, once they've worked their way up from the mailroom.

[cidrasm]

Posting headlines without a satire warning really, really frosts me.

It appears the original content on Zero Hedge doesn't realize the WH petition is a crank. So, I wouldn't get too worked up over the OP not knowing either. You actually have to read the petition to find the IowaHawk reference.

[CSM]

Yet, they had a hell of a good time for a 5 or 6 years!

[Kadric]

May have to do with their choice of majors.

[Ellendra]

Until my health went south I NEVER had a problem finding a good job, no matter where I lived and my degree is very much not from an Ivy League school. Is everyone today a whiner?

Same here. And I'm looking at getting a medical coding certificate so I can work even with my health going south. The clinics around here are always advertising for coders, and some even say they'll let you telecommute.

But, in every job I've ever had, there were always waaaayy too many people whining about being expected to work.

[clearcarbon]

What are they going to do if he doesn't cough up the money?
Reelect him to a third term?