Posted on 10/03/2018 9:56:47 AM PDT by davikkm
The full scale and scope of the student loan debt bubble is far from fully understood. Millions of young Americans continue to be encouraged to go to massively expensive universities for useless undergraduate degrees. The result has been a generation of young people with thousands of dollars in debt and no preparation for today’s job market.
Parents and their high school aged children need to take a serious look at whether college is a sound investment anymore. Statistics are regularly thrown around about how college graduates make much more money than those with a high school education. But what about the trades? What about more profession-specific schooling? What about the thousands of dollars of debt they will struggle to pay off for decades? Millions of college graduates are now unable to buy a house, start a business, or buy a car because of the mountain of student loan debt they have. These loans are not backed up by any real asset, therefore, a massive wave of defaults is coming and has already started to begin.
(Excerpt) Read more at investmentwatchblog.com ...
I’ve been hearing for over five years that the next debt bubble to pop is the student loan debt bubble. I don’t understand why I hasn’t. Maybe it already is but we’re not seeing homes repossessed, so it’s under the radar.
the students' minds are being repossessed
The highly aggressive leftist monoculture of academia is fed purely by this massive bubble of Fed.gov spending and student debt. conservatives - you get to pay for it.
Once again, government and leftists team up to pour massive money into a progressive social-engineering scheme, and a very solid Democrat political base
How can I go short on these?
This morning, Fox & Friends was at College of the Ozarks in MO. It’s nickname is “Hard Work U” because while there is no charge for students to attend, they are assigned jobs to do to keep the campus functioning.
Students tend the live stock and truck garden that supplies fresh, wholesome food to the students and staff. The food is prepared and served by students, and plumbing, landscaping, electrical are all done by students. It’s a wonderful place that stresses love of God, family and country. And when students graduate, they have NO debt.
we’re not seeing homes repossessed,
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the students’ minds are being repossessed
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Students can’t have a home repossessed because most can’t afford to purchase a home. They can’t incur any more debt.
I couldn’t afford to send my child to a university but the commie libturds expect me to pay for someone else’s kid to go. Thanks to the Obozo, the tax payers are now saddled with the student loan debt. Time to reverse this socialist gift from the Federal government and get the Federal Gov. totally out of our education system.
There should be a serious, nationwide study to determine why college has become so damned expensive. $30,000 - $40,000 tuition per year has become standard in many parts of the country, plus living expenses.
It’s unsecured debt so all the banks can do is ding a persons credit report. I suppose it will become more noticeable when the creditors start writing off the debt or demanding the US pay them off.
Most of the debt belongs to women who have useless degrees in “Studies du jure”, worse they took out bigger loans than men who mostly got useful stem degrees.
After a certain amount of time of not paying on their loans, the Treasury gets involved and steep garnishments are applied. There is no escaping re-paying those loans.
I put the blame on many things. Degrees in worthless majors. Colleges hiking rates when money is easier to come by (i.e. federal grants / loans) like any other industry does. Kids going to college to escape having to postpone having to get real jobs. Kids not having the mindset to finish what they start.
But the main thing is that too many kids who start school don’t have a specific career in mind, thus nothing to focus on to finish or even making sure you’re heading in the right direction. Solution: pick your career first (I did in 11th grade, so don’t tell me it can’t be done). Ask people in that career what school(s) and degree(s) are needed to get where they are and impress them to hire you and advance. Ask them if cheaper schools are just as good.
In other words, take charge of your own future and don’t believe everything the school advisor tells you when he’s selling his product.
Yeah, back in the day I completed a degree at Ohio State through a cooperative work project (Stadium Dorm). Barrack type room and board in exchange for work in dietary, housekeeping, and maintenance.
50 years ago a subsistence level barely above poverty was a way of life for most college students. Today dorms set up as luxury apartments is the norm. A friend's daughter recently turned down a scholarship because her freshman dorm suite that would have been assigned did not have granite countertops.
Short firms that loan money to students the problem is that firm is the federal gov which is 1 of 10000 reasons fees should not be doing this
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