Posted on 01/24/2020 9:19:04 AM PST by mr_hammer
There’s plenty of guilt to go around.
*PING* More Student Loan discussion over here!
The government handing out loans to dumb 18-year olds is the cause.
Nullify any loans made to anyone under 21.
And take it out of the endowments of the universities that exploited them.
Require students go to their local Community College for the first 1-2 years.
I think most of the blame is on Obozo and the frauds who equated a college degree at any cost with a human right. Too many Americans have shown themselves to be financially illiterate. Expecting a 17/18 year old to understand the ramifications of taking on so much debt is not realistic. Their parents should have guided them better but they may not be any better at managing money either.
The activists who fought to nationalize student loans knew exactly what they were doing. They are criminals.
You have colleges requiring useless courses to meet an arbitrary number of ‘hours’ to get a degree. If you want a business degree, you can get all the basics you need for under 60 hours. The rest of the hours are ‘fillers’ to make the mandatory needed hours. You want to end student debt, completely restructure what is necessary for a viable degree, doing away with useless courses. If someone wants to add a philosophy class over and above minimums, not eligible for a student loan.
How else can they indoctrinate the kids to follow their destructive socialist agenda along with continuing to receive their high salaries without work.
This is proof again that wherever government gets involved in any part of the private sector, they ruin it.
As EEGator noted, there is plenty of guilt to go around.
Let’s say a freshman student decides to major in 14th century English literature. That’s a bad decision, to be sure. But we will somewhat forgive the student because he is young and naive.
So this student goes to his college’s English department to sign up for his classes. What will his adviser tell him? He adviser will praise his decision, and tell him all the great things he can do with a 14th century English literature degree.
This story is NOT a hypothetical. I’ve seen it play out quite a few times. Yes, the student deserves blame for not doing his due diligence. But the college deserves blame as well.
My solution: Make colleges co-sign for loans. You want to sign some kid up for 14th century English literature? Find. But you will then be on the hook for his debt.
How high was the college loan debt before Obama took office?
Colleges dumb down the curriculum to keep these mororns enrolled
You MUST finish in 4 years or less! Or not. Take courses as you can afford them and work while going. Life experience and the turtle approach could keep some folks out of massive debt and end up turning out a more well rounded result. And, how many parents are bearing the debt burden?
I would like to see the left amounts.
Does the scale start at zero?
IUD’s
Decades ago, one of our younger relatives with two engineering majors in his degree got several good job offers before he was graduated.
This was during one of the many recessions we have had since the Korean War.
So we asked him what was happening.
He said that most of the degrees even then were worthless.
Then, he labeled them IUD’s, Instant Unemployment Degrees!
Now the Instant Unemployment Degree/ IUD racket is bigger now than a few decades ago.
Our local morning news brings in singers on Fridays. 1 of the gals mentioned she had a Masters in art and music appreciation.
I have a friend whose wife has a Masters in art therapy.
Both are unemployable with their advanced degrees.
Go here: https://www.elitepersonalfinance.com/average-student-loan-debt/
Look up the Historical Aggregate Student Loan Debt - Total Outstanding Student Loan Debt (Billions) Graph
You should be a senator
The conclusion the author should have drawn is that the schools are putting out more graduates than the market demands.
While it's also true that the cost of a college degree is artificially high due to government interference with free market pricing, if the demand for graduates was in balance with the supply, they would earn enough money to pay back their loans.
-PJ
Almost 300% increase in 11 years...nice.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.