Posted on 09/29/2016 5:28:11 AM PDT by Hojczyk
What would you think of a lender that has holds more than one $1 trillion in loans outstanding, targets low income and minority borrowers, has a payment delinquency and default rate in excess of 25 percent, and has postponed repayment on 14 percent of its loans, but is still accruing interest on them?
Wouldn't you think that some government agency—say, the Consumer Financial Protection Bureau, the Federal Reserve, or even Congress—would be investigating this perfect definition of a predatory lender and trying to shut it down? Roughly 45 percent of people that enroll in college ultimately drop out without ever attaining a degree. That percentage has remained pretty constant for the last several decades (actually it's a bit higher now than ten years ago but not by much) and even that minor increase is due to the change in the way the graduation rate is counted. Thirty years ago there were 12.5 million students enrolled in colleges and universities nationwide.
Today that number is 20 million. What that means is that as a nation we've gone from creating roughly 5.6 million dropouts per year with relatively no student debt, to creating 9 million dropouts per year with over two thirds of them buried under predatory educational debt. These are students that most likely never should have attended college but did so because they were suddenly able to afford it. Or at least on paper.
Additionally, of the students that do graduate from college, millions do so with piles of debt and only prospects of low paying jobs in their field. The media are filled almost daily with anecdotal stories about students graduating from college with six figure debt and entering professions that will have them paying it off for most of their adult life.
(Excerpt) Read more at weeklystandard.com ...
When something is free, its value drops precipitously as far as what one is willing to do for it.
Colleges are becoming the all-you-can-eat buffets and the "students are leaving huge plates of food for the dumpsters because they aren't actually paying for it.
In a generation college has gone from the best investment one can make to the worst. Thanks entirely to the policies of libtards. One would think that would cause quite a number of people to wonder just whose side are these libtards on?
It would seem there is a dawning awareness this is exactly what is happening with millenials. Libtards claim to be “the smart ones” but everything they touch turns to crap and young people are seeing that. It really gives me hope.
The buffet analogy is very good! Look at the photos of folks from the 50s. Those folks were trim. Confident. Fit. They had just come home from kicking as in Europe and the Pacific and their next stop was literally, THE MOON.
Spend 15 minutes at ant WalMart or Mall. What the hell happened? Maybe America doesn’t deserve to survive.
And you end up with a country whose people cannot find the skilled trades people who, though they merely work with their hands, are the only ones who can keep this so-called hi-tech society running.
The professor of “Early French Something” doesn’t realize his life is dependant on the skill of that non-English speaking auto mechanic who fixed his brakes. The Social Justice instructor can’t find a plumber to stop the leak in the cellar.
And in my trade, I sit in Massachusetts as a package arrives from Arizona because its owner can’t find anyone there to repair his ********.
I bet there will be a “COLLEGE crash” within a very few years. In plain words, in too many cases, “IT AIN’T WORTH IT”.
Major in gender studies, black studies and then expect a high paying job.
Actually it's not beyond the realm of possibility for the latter. The first wookie got a job at the university of Chicago medical school as "director of diversity" that paid $390,000 a year when the turd was first elected as a senator. After a couple of years living large in the white hut, she was no longer able to fulfill the requirements of the job (said requirements consisted of existing and showing up once a year for a few hours) so she quit. BUT rather than hire another person they got rid of the job. Pretty good work if you can get it (and apparently only black wives of incompetent black presidents qualify)
It is more obvious everyday, our only hope of killing the beast called federal government is article V convention.
.
Many lawyers have got to go, too.
Now we have another unintended consequence. A lot of these students belonged in ITT-type programs, where they would've succeeded and learned a job skill. Without those students, the technical training schools have a low graduation rate. Odd that they lose their government-loan students, but the colleges that don't train the students for anything don't.
Too much of an oversimplification. As fewer people get into the trades - the demand goes up along with the wages for skilled labor. Then more people are attracted to the trades thus increasing the number of people who know how to fix stuff. (But oddly the rates for fixing things seem to stay high)
LOLs.
I had graduate and undergraduate loans.
When I realized the ex was cheating with a 4th person, 2 years before she left me, I pulled out all the equity from the house by doing a VA loan refinance with 0% down, and paid off the undergraduate loans.
2 years later, with not enough equity in the house to cover potential closing costs, I got to keep the house in the separation agreement.
It is possible to pay student loans off quickly, if you are creative or strategic, like Ender Wiggins.
“Student” loans are just a means of sending taxpayer money to the colleges. Tuition goes up (and much faster than cost of living), student loans go up.
“and the rest is history”
NO no no, you haven’t learned your lesson.....
“The rest is HERstory”
That is certainly a subject in need of discussion, not, however, in an article V venue. Might I suggest for you a search for “convention of states”. Start reading, there is much to learn, and time is short.
“and the rest is history”
NO no no, you haven’t learned your lesson.....
“The rest is HERstory”
What is worse is that most of the money is not going to tuition but for big screen tvs and other goods. We have it happening in our family. New tv new furniture etc. just piling on the debt.
They cant lend to those that aren’t stupid enough to sign up for them.
It’s brilliant!! Indentured servitude for life! It’s voluntary slavery. But still slavery. Brought to you by Democrans and Republicrats.
Go TRUMP!
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