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You can get a college education for less than 100K.
Also, you don't have to get a loan for all of your living expenses, too.
There is this thing, called a job...
Show me another away to ensure access and I'm all ears.
You can get a college education for less than 100K.
Also, you don't have to get a loan for all of your living expenses, too.
There is this thing, called a job...
Yes
I would argue sometimes its better just to take out the loans for the extra amount then work a job for a ty wage. In fact it may be cheaper just to take 6 extra hours from 12 to 18 and NOT work so that you can get done faster.Also, you don't have to get a loan for all of your living expenses, too.
There is this thing, called a job...
, just go to a community college like SAC for a couple of years and then transfer to a school like UTSA.
People getting 100K in debt better damn well have a medical degree. My sister had over 100K in debt, but that was paid off quick because she's a doctor. If you are 100K in debt and you have a degree in history, you are just a stupid .
In fact, you really should get an education for far less than 100k. You really shouldn't go out of state for undergrad without a damn good reason or without money. Just go to a state school and pay far far less in most cases.
Agree 100%
Perhaps.
Or, get a job in the field you are studying (internship, etc.) and sometimes those companies are willing to reimburse some of those costs. I don't think enough people go this route. Plus, when you graduate, nine times out of ten, that same company hires you.
I'm not sure even a medical degree will guarantee an ability to repay the loans these days.
Not the taxpayers problem. And given the number of kids graduating college with a load of debt and a worthless degree, I think it's more than fair to ask whether or not ensuring access to student loans is really in everyone's best interests.
Can you show me figures on the number of kids "who are graduating with a load of debt and a worthless degree" and how that is negatively impacting the taxpayer? You're assuming a problem here without actually showing one.
Its pretty much undeniable that ensuring access is in everyone's best interest if you believe that our entire society suffers when its education level drops (and in turn income disparity increases). However, later on today I'll do my part and back up this statement as well, CG.
God damn you really should read a thread before opening your mouth.
Another new university scam I resent is getting so much of their income from "fees" and refusing to let kids take a lot of hours per semester. When my honor student son went to UT and they wouldn't allow him to take more than 13 hours I was shocked. That probably cost me $25,000 extra over the course of his education just because the school forces kids toi extend their time there now. When I went to college in '73 you could take up to 18 hours without special permission and 21 with permission. I placed out of 20 hours and then took 21 hours a semester my first four semesters so I could cruise through my upper level classes and still graduate in 4 years without going to summer school.
I have never heard of a school doing that except in a first semester. After 18 I'd have to see an advisor, but it was a 5 minute meeting to get his signature on the pe ion.
CNBC: The dramatic rise in student debt—and in student loan defaults—could leave the American taxpayer on the hook for hundreds of billions of dollars.
WSJ: The default rate for federal student loans rose to 13.8% from 11.8% for students beginning repayment in fiscal 2008 compared with those starting a year earlier, according to new data released Friday by the Department of Education.
The topic of student loan debt also seemed to be a pretty common theme at that little gathering on Wall Street.
Disagree. There's plenty of people out there who would have been much better off not taking on a bunch of student debt that they can't repay.Its pretty much undeniable that ensuring access is in everyone's best interest if you believe that our entire society suffers when its education level drops (and in turn income disparity increases). However, later on today I'll do my part and back up this statement as well, CG.
So, if you can't get a job in your chosen field, your only choices are dealing drugs or becoming a pros ute?
Creative problem solver.
Newsflash: Most people probably end up in a field that is different from what they studied in college.
she is probably trying to find jobs that will allow her to live while paying the ~600/mo payment.So, if you can't get a job in your chosen field, your only choices are dealing drugs or becoming a pros ute?
Creative problem solver.
Newsflash: Most people probably end up in a field that is different from what they studied in college.
I do, however, agree about your "chosen field" comment. Plus, I can deal with misspellings most of the time, but when you are trying to convince someone of the fact that you SHOULD be employable, don't misspell the word "field"! (I feel the same way about people who post stuff like "You should Lissen to me I am so smrat!!!")
Forgiving the student loan debt of all Americans will have an immediate stimulative effect on our economy. With the stroke of the President's pen, millions of Americans would suddenly have hundreds, or in some cases, thousands of extra dollars in their pockets each and every month with which to spend on ailing sectors of the economy. As consumer spending increases, businesses will begin to hire, jobs will be created and a new era of innovation, entrepreneurship and prosperity will be ushered in for all. A rising tide does, in fact, lift all boats - forgiving student loan debt, rather than tax cuts for corporations, millionaires and billionaires, has a MUCH greater chance of helping to rise that tide in a MUCH shorter time-frame. The future economic success of this country is wholly dependent upon a well-educated, prosperous middle class. Instead of saddling entire generations with debt from which there is no escape, let's empower the American people to grow this economy on their own!
http://signon.org/sign/want%2Da%2Dre...330971-iDKyNkx
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People take on debt, lenders take on borrowers, on the expected ablity to repay.
(except when you're a predatory lender and are looking to pocket only the mortgage writing fee, not expecting repayment you tricked the naive borrower into taking)
The Banksters Great Jobs Depression destroyed those expectations for 100Ks college grads.
WC, what do you do now? Just curious. I'd like to think that my job (IT/network tech) won't go away, but I'm also studying network design and security as well.
Agreed. Universities are really shooting themselves in the foot though; they're killing the goose to get the golden egg now.
All the burns you could possibly have said...So, if you can't get a job in your chosen field, your only choices are dealing drugs or becoming a pros ute?
Creative problem solver.
Newsflash: Most people probably end up in a field that is different from what they studied in college.
and you don't point out that she spelled the word "Field" incorrectly?
Also, given her looks, I feel pretty safe saying she should go the drugs route.
Uhhh...If that's her only two choices I recommend going the drug route unless she's talking about selling a kidney.
The first article has one of the worst head lines ever written considering it never at any point decides to tell you exactly how this would impact tax payers negatively. It basically says that private loans are bad for students. I agree with that but taxpayers are not on the hook for private loans.
The second article also does not really push your point, either. Yes, defaults on student loans have gone up in recent years but considering the levels of unemployment and general economic malaise this should not be a shock to anyone. Furthermore, the article points out that much of this increase is purely on the shoulders of for profit schools and that schools that are contributing to this will soon be cut out of being eligible for the loan programs because of their failure to graduate students that can actually pay off these loans. I've railed against for profit higher ed on this board before and this is why.
The figures in both of the articles are really very small. Default rates under 10% for private and public ins utions strike me as manageable and that shows that 9 out of 10 students are graduating and are able to make due. That certainly seems to be a point in favor of these loans being effective.
None of this info helps an assertion that students are graduating with "worthless" degrees and actually makes the case for the opposite.
[quote]
The topic of student loan debt also seemed to be a pretty common theme at that little gathering on Wall Street.
Irrelevant. I'm not sure anyone is happy about having to pay back large amounts of money for anything. That doesn't mean its not worth it. Anecdotal evidence of this sort is meaningless. Its not like me posting the bank account of a doctor and pointing out how student loans helped them is going to prove my point.
I never said otherwise. My point is that having open access that loans and general financial aid provide is important to a society. Of course there are going to be people who go into debt and would have been better off having never attended college. Considering the level of private lending to people who don't even need private loans (see your first article) that isn't a byproduct of our current system by any stretch of the imagination. In fact, considering the predatory lending practices that go on with private student loans this would only increase in the absence of government backed aid.Disagree. There's plenty of people out there who would have been much better off not taking on a bunch of student debt that they can't repay.
But more importantly, while there are people who come out worse I would argue that there are far more people who come out better because they had access to a college education that they would not have had otherwise. In the end the that is the point. I don't think its a stretch to argue that our countries education level would be lower were it not for federal aid and I do not think it is a stretch to argue that would have an incredibly bad impact. The way forward is not going to be through unskilled jobs. Thats been apparent for a couple of decades now. As it is, we're already suffering when it comes to graduating people in various professions (IE Engineers) when compared to other countries and falling further.
And really, its a tough case to make that the US doesn't reap the benefit from financial aid in tax dollars when you consider that a college graduate will make almost twice as much more as a high school graduate. Thats quite a bit more future tax revenue you see from the investment a country makes in order to get there. Not to mention that the investment gets paid back in nearly every case (even the defaults).
Baseline, as I remember it, it was the full freshman year and they capped it at 15 without special permission after that.
Uhhh...If that's her only two choices I recommend going the drug route unless she's talking about selling a kidney.
I'm gonna go ahead and say I thought the same.
And really, ing about 40k in debt is pretty worthless, IMO. Its a lot of money but the fact of the matter is that 40k in debt is not going to ruin your life unless you're an idiot.
Then again picking up 40k in debt with a worthless major does tend to signify that you're an idiot. Its about time we stopped telling people that they can do anything they want to do if they put their mind to it and start telling them that somethings are out of reach. You may really ing love basket weaving but you're never going to make much money off of it. You'd better make sure that whatever you're going into debt for will make you employable so that you can repay those loans.
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