College Grads Buried in Student Loan Debt, but Unwilling to Give Up Luxuries

Yes but the price to do so is either what the students that are physically there pay, or damn close. Just because Im getting an online tuition from Ohio St. does not mean it's going to be cheaper. Trust me, I wanted a degree from UCLA and I have looked into this. They were going to charge me in state tuition since I could provide an in state address, but it was still too expensive for me.

 

That is a valid frame of mind. You are (*)(*)(*)(*)ed anyways so you might as well get what you can out of life right?

in a sense I definitely understand that sentiment.

 

I think the point is, they don't have that much money and should be saving for debt payoff. If they don't have that much money, not a big dent.

 

Nope. Rises in costs are fueled by guaranteed govt money. As stated before, no sane institution is going to loan a 2.7GPA high school student 160k for an investment in a liberal arts degree.

 

One would think kids going to college would understand compound interest. Then again if they are there to protest and be "activists" perhaps not.

- - - Updated - - -

Not really as many jobs now do a credit check along with a background check... Good luck getting one if you default on a student loan.

 

Most jobs, experience trumps degree pedigree. Take a lower paid entry level, and get paid for your education while the other guy goes broke going to Stanford.

- - - Updated - - -

Are you guys millennials?

 

Yeah that is another issue I don't understand . I mean why the hell do companies care about your credit report? That is beyond ridiculous and honestly none of their business . A credit report is for purchasing or getting loans , it's not a record of employment history lol.

Absolutely insane.

 

Yep my wife earned her Masters and BCBA through work... Of course she had a full work load + school work + had to maintain a grade average throughtout but it was worth it in the long run.

We were both to busy during that timeframe to waste money.. hah.

- - - Updated - - -

One would guess any job involving large amounts of money would not trust someone with a criminal back ground nor some one with a horrible credit record as you would be more likely to steal.

Hell i had to do both including a Federal back ground check just to deal Black Jack.

 

Good for them. Student loans are a total joke and a sham anyway. So is usury by all accounts.

 

So you think the Government should just "forgive" 1.2 Trillion in debt?

 

Yep. I do. Because the mythology of having a college degree as a pathway to success was not sold to them as a "possibility" by rich entrenched interests, but was sold to them as "the only viable way to have a good future."

When you get that degree and realize the market only has space for so many people of a given expertise and half or more of you will be working at cold stone creamery for minimum wage, I'd say the trust was betrayed.

So yeah, I do think the government should just forgive -all- outstanding student loan debt on any federally insured Stafford loans. All of it. Every red cent. It's all fictionalized, unguaranteed funds anyway, all fictional fiat dollars created by an unelected board of bankers and elitists at the federal reserve.

 

And future student loans as well? Do you think the Government should pay back all the people who did pay off there loans and if not why not? Its your logic after all.

 

But a criminal background should be sufficient , a credit report is not about stealing or not even full proof someone is bad with money as people get screwed over all the time . Now if they found a background of stealing or violent actions then yeah, that is a reason to question giving employment to someone who will be over money like a bar tender or working in a casino. But a credit report? that doesn't say too much. How is a person supposed to pay off debt if they can't get a job lol?

 

`
I read the original study - http://www.businesswire.com/news/ho...ge-Graduates-Student-Loans-Spending-One-Fifth - then the OP's rant. Two different realities.

 

I believe that prior, good jobs were earned by simply having a high school education. Once entrenched interests realized they could pitch "affordable education for all" and then -required- a degree for gainful employment, they pitched it as the only way forward to a good career future. My generation (not a millennial, mind you) was one of the first and one of the hardest hit with folks underemployed because the degree they earned was worthless, or there was not enough market space.

Do you think it's fair to mislead people into believing that a career is only obtainable with a degree, and that those who get a degree are guaranteed good employment? Because that's how it was sold to us at the many college fairs and other education market places that we attended through our junior and senior years.

Do you think we shouldn't hold people accountable for lying to the public? More, do you think the government should be guaranteed repayment if they deceive the public?

I don't. The government already gets too much of my damn money for the little I receive in return, let alone student loan repayment. The government has been in bed with a group of entrenched interests who colluded to create additional employment requirements and monetize education beyond high school to make sure some folks got rich, and others got an education they -may- use, but lied to everyone when they said it was not only required, but that it was the only way forward.

So yeah. All of it. Every red cent owed. Every red cent borrowed. Every red cent repaid. Because the government lied, the entrenched interests lied, and if this were a court of law, they would be held liable for damages for operating under deceptive business practices.

 

Do you understand where they Government gets money from? You want to punish not realizing that the tax payers will take the brunt.

- - - Updated - - -

So Yahoo "rants" now?

 

Depends on the degree and your line of work. Let me tell you a secret...psssst...a job is not guaranteed. Colleges don't sell you on education, business does. Hey, you don't need a degree at all for many careers. You can start your own business without a college education, so be smart and do it. If you think its not worth it, and in certain cases it isn't, do what's best for you.

NO debt should be forgiven though. YOU sign the dotted line. YOU agree to it. YOU have to make good on your debts. And college for many degrees certainly helps. You need only work with educated vs non educated people to see the difference. Obviously not all education is the same, but still, you do LEARN going to college assuming you apply yourself.

The current farce now is requiring Masters Degrees for jobs that NEVER required them....now THAT is a big bunch of B.S.

 

Nope. No new taxes to cover it. Just because the tax payers may take a hit does not excuse the government and entrenched interests of culpability. Furthermore, it does not excuse the deception sold to the public by our government. The deception here was that the loans would be used to obtain a degree for gainful employment; since we're past the point that the deception was a lie and have now accepted it, we have to then look at the underlying motivation.

For some people to get rich. That's it. All of it. The crux of the debate is not about gainful employment, but for some people to get rich, they had to deceive the public.

Well, it's high time for the public to be repaid.

Like I said, if this were a court of law, the government and all the entrenched interests would be held liable for damages plus expenses, because the deception really does run that deep.

As for how to compensate tax payers - don't. Don't charge them a dime. The funds for student loans as of right now are not paid. The government should not be in the business of extorting the youth of our nation with false, hollow promises, and then operate under the assumption it will be repaid.

Cut off the funds. Forgive the debt. And make the government operate as it should, not on fake, unguaranteed funds.

 

I agree, jobs aren't guaranteed. But that's what colleges and education institutions claimed when they pitched the idea of graduate education to those of us who went to college fairs, etc. It wasn't Joe's Crab Shack in my high school auditorium, it was PSU, Rutgers, etc, making the claim that education was required for good employment.

What wasn't told to the people in high school was that certain jobs have a saturation point, and the market can only accept so many graduates of any expertise with liquid employment options. This is both a failing of institutionalized education, which does not train for gainful employment, but for a set of sub-par arbitrary standards, and a failing of secondary education as well as entrenched interests and the government that have a very bountiful interest in convincing people to go to college.

Disagree. If a company lies to it's customers about the viability of its product, that company can then be sued for damages. Typically this results in a repayment for the product to the consumer. Same ideal applies here. The government and entrenched interests -did- deceive the public with their campaign to drive everyone to post high school education. They deceived the public by making not only promises, but threats. "You won't have a good job unless.." I was there. I watched it happen.

Are you saying that we need to hold a bunch of teenagers, not even old enough to buy liquor let alone understand contract law and job market requirements accountable, when the "adults" in the room convince them they must do something (strictly to the benefit of their institution) or else?

We're supposed to hold these kids accountable when the powers that be not only don't educate them on real world market conditions, but also hold aloft a promise of gainful employment, but never explain the possible shortfalls?

So no, I disagree entirely. The government and entrenched interests have been exposed for the frauds they are. And it's time to hold them accountable.

Where I work, temps are required to have a bachelor degree to do data entry and are paid $11 an hour.

That is a bunch of BS.

Most of the people in my company have no bachelors degree. My CEO dropped out, and has his job strictly by merit of winning the genetic lottery and who is father is. Yet, it's required temps, making 1/1000 of what he makes have a degree he himself never earned?

And this just speaks to the vastness of the problem. MArket saturation brought on by deceptive business practices leads to an undervaluing of labor in the market and a dilution of value of the degree of any college graduate. It's sad.

 

I know a professor of institutional economics which is the idea that Blacks are getting screwed by an economic system based on racism. It took twenty years of his wife supporting his worthless ass before he got tenure. When I met his wife he was planning to do his dissertation on the Bank of Paris; which he thought would take an additional two years of study and research. When he found out that his wife was having an affair he decided to do the institution crap and wrote his dissertation in 4 months. Looking at student reviews you find that the students think he is an old fool but funny. He teaches this crap 6 hours per week. The funny thing is that he hates Blacks but pretends to care that they are getting ripped off by the system.

If they continue to default on their debt of close to a trillion dollars what happens to the people that they owe the money to? 0 has taken that debt on as a tax payer investment knowing that the kids were going to skip out on it and cause the economy more trouble. Do you think that the kids should spend what they want knowing that the people holding that debit won't be able to spend that money in their retirement as they planed?

It is also a record of taking responsibility and how badly a person needs extra money. Bad enough to steal from the company?

 

No one said get a degree and you were locked in to a job... its utter nonsense and the mindset of those who can not take personal responsibility.

 

Right or wrong that is usually putting foreign minds behind the wheel

 

I agree, especially with high paying STEM jobs. I would not recommend anyone give up if they are on a degree path; you should play to your strengths and everyone is different. What everyone is not is a career math person, and that including people who took college classes on it. Something like math can be very lucrative, but most of those guys are going to be different and their path almost laid before they got there (ie. the math kid in high school that could master it then and did it because they thought math was fun. NOT so much the kid who passed a college class because he thinks it makes the most money)

 

Nonsense. The hyperbole surrounding higher education has absolutely diluted the accessibility of trade schools, and the promise of employment is very much real in many of our experiences.

http://www.washingtontimes.com/news...ers-sue-schools-over-promises-of-jo/?page=all

There's just ONE article where jobs are promised.

What I am sick of is hearing the blame be placed on uneducated kids signing contracts they don't understand and where never taught to understand. Folks want to hold "YOU" accountable when "YOU" were never taught contract law.

You were just sucked up into an all consuming machine designed to indebt the many to the few, the few being entrenched elitist interests that sell bogus degrees like "Culture studies" with the promise of employ, and the government for creating income for itself by charging interest on the population.

It's a joke and it needs to end. Blame needs to be placed where it belongs.

 

Sign here and you will owe X is not complicated.