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SheilaT

(23,156 posts)

43. Thank you for setting me straight.

Thu Oct 8, 2015, 08:55 PM

Oct 2015

But the interests rates are still unconscionable.

I agree that for too many kids going to college is automatic, they never think through why they should go, what they should do when they get there (except maybe party) and what they're going to do when they get out.

And I think that overall, fewer than half of the people who start school ever get a degree. Which to me is a strong clue that a lot of them maybe shouldn't be going in the first place.

Don't get me wrong, I'm a huge proponent of learning just for the sake of learning, and I'm someone who has attended college on and off most of my adult life, although it's currently about 8 years since I last took a class. I've got a lot of credits to my name, and one associate's degree/paralegal certificate. I'm equally big on practicality. Which is why I suggested my younger son do the marketing minor, and why I'm perfectly okay with his current career.

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This Court Case Could Unshackle Americans From Student Debt [View all] uawchild Oct 2015 OP

Student loans are more or less identical to indentured servitude Orrex Oct 2015 #1

This is especially true when you consider the involvement of private educational institutes Major Nikon Oct 2015 #2

Then don't take one out skepticscott Oct 2015 #3

But the current paradigm all but drives the population to have diplomas newthinking Oct 2015 #4

That's true. But the advanced degrees don't really help that much. erronis Oct 2015 #8

But the economy is set up so... CoffeeCat Oct 2015 #97

Great post! Damned if we do and if we don't. Strange how they worked this out... erronis Oct 2015 #102

Yeah, so strange isn't it? CoffeeCat Oct 2015 #122

Thanks for the laundry list and a reality check nolabels Oct 2015 #136

Well, according to Orrex skepticscott Oct 2015 #9

Jobs that don't require a college degree usually don't pay as well meow2u3 Oct 2015 #21

Which State Universities have promised jobs? leftofcool Oct 2015 #34

No state universities have promised jobs meow2u3 Oct 2015 #45

They have jacked up tuition because states have cut TexasBushwhacker Oct 2015 #91

They have jacked up tuition because christx30 Oct 2015 #96

exactly... Salviati Oct 2015 #128

More like the company store than indentured servitude or payday loans... 1monster Oct 2015 #36

Here's the problem aggiesal Oct 2015 #7

The reality is not what it probably should be skepticscott Oct 2015 #11

And what alternative do you propose? jeff47 Oct 2015 #61

You don't have to rack up triple digit debt TexasBushwhacker Oct 2015 #94

Double digit debt quickly turns into triple digit when you can't pay. jeff47 Oct 2015 #95

Geez, you want some cheese with that whine? TexasBushwhacker Oct 2015 #120

I apologize that reality is not as ruggedly individualistic as you'd prefer. jeff47 Oct 2015 #130

I almost stopped reading when he said he was fortunate to have parents that could afford to ... Hassin Bin Sober Oct 2015 #134

$20k/yr in-state tuition and fees at the U of Illinois riderinthestorm Oct 2015 #100

Yup, Illinois us one of the more expensive states TexasBushwhacker Oct 2015 #132

"why would someone major in English or history without getting a teaching certificate?" bvar22 Oct 2015 #109

That'll be really handy at the christx30 Oct 2015 #113

I have found most of your statements to be untrue....at least in my life experience. bvar22 Oct 2015 #115

I applied for my current job christx30 Oct 2015 #117

You wanna know what's a waste of taxpayer dollars? Paying for diploma mill degrees. Gormy Cuss Oct 2015 #139

So what kind of work did you end up doing? TexasBushwhacker Oct 2015 #121

You need a MLS to be a librarian HarpboyAK Oct 2015 #138

I don't think it's possible..... daleanime Oct 2015 #12

How much smarter do you get skepticscott Oct 2015 #13

No one is encouraging 100K loans.... daleanime Oct 2015 #14

Oh no? skepticscott Oct 2015 #16

What do you think happens when you can't pay that $30k loan? jeff47 Oct 2015 #63

Oh, got it. Hissyspit Oct 2015 #77

Exactly. The scenario some speak of here (Don't borrow) might work if Americans were... BlueJazz Oct 2015 #25

Well fuck! Why didn't I think of that? Orrex Oct 2015 #22

+1000 Maven Oct 2015 #30

I am so sick of these self righteous jerks. smirkymonkey Oct 2015 #119

It's amazing how much foresight and worldly knowledge they expect kids and young adults to have Maven Oct 2015 #123

Well, I suggest you get out there skepticscott Oct 2015 #42

Since you don't know what you're talking about, I'll explain it for you Orrex Oct 2015 #62

I have a suggestion Yupster Oct 2015 #70

Only the banks can get away with that! Live and Learn Oct 2015 #82

Maybe I'm too old for this group Yupster Oct 2015 #92

You speak of a time when public universities were free, or nearly free jeff47 Oct 2015 #93

+1 And health care was much more affordable back then too. nt Live and Learn Oct 2015 #99

hell to the yeah n/t zazen Oct 2015 #103

I have a suggestion. Two of them in fact: Orrex Oct 2015 #86

Yes, don't do anything unless you KNOW EXACTLY WHAT WILL HAPPEN IN THE FUTURE. Hissyspit Oct 2015 #78

What is your personal experience with this issue? kristopher Oct 2015 #111

easy to say, until you take out student loans based on gov. statistics that magical thyme Oct 2015 #23

Well said! Marthe48 Oct 2015 #53

I agree with you about non-college careers TexasBushwhacker Oct 2015 #133

Yes Marthe48 Oct 2015 #137

True, don't take them out, but that's not help to those already stuck with inescapable debt Cheese Sandwich Oct 2015 #28

So true. In just the last 15 years, the US textile industry closeupready Oct 2015 #116

Really? Arugula Latte Oct 2015 #31

Taking out loans that are skepticscott Oct 2015 #46

Well, even lowly public state schools can cost "only" $15,000 - $25,000 a year. Arugula Latte Oct 2015 #51

There are jobs in between lawyer christx30 Oct 2015 #74

Yes, and they require a degree. jeff47 Oct 2015 #105

Stupid teenagers! Hissyspit Oct 2015 #76

FUUUUUUCCCCCKKKKK!!!!!!! Ed Suspicious Oct 2015 #37

Ugh. Hissyspit Oct 2015 #75

Yep, let's keep our populace dumb with only the rich being able to afford an education. Live and Learn Oct 2015 #81

Yeah, 18 year old, go find a job!!! JackRiddler Oct 2015 #135

Indentured servants didn't have to come to the US either, but they did. threethirteen Oct 2015 #140

One of Biden's key problems, there. Erich Bloodaxe BSN Oct 2015 #5

The reason lenders sign off on six figure loans to 18 year olds is that lack of risk. lumberjack_jeff Oct 2015 #6

And the more risk there is skepticscott Oct 2015 #10

Or we could be like every other developed country on the planet jeff47 Oct 2015 #64

Good. SheilaT Oct 2015 #15

As noted, if you increase the risk of default skepticscott Oct 2015 #18

It shouldn't be private lenders at all. SheilaT Oct 2015 #38

Since 2010 the money does come from the federal government! Yo_Mama Oct 2015 #41

Thank you for setting me straight. SheilaT Oct 2015 #43

I think the .gov student loans are over $1.2 Trillion right now. [nt] Ichigo Kurosaki Oct 2015 #57

The federal government makes the vast majority of student loans. Yo_Mama Oct 2015 #44

Yeah! Those people should spend the rest of their lives flipping burgers! jeff47 Oct 2015 #65

Why would a lender make you a loan at 1 % Yupster Oct 2015 #71

This debt has to be paid somehow. roamer65 Oct 2015 #17

John Adams had the right idea. byronius Oct 2015 #27

How did Adams propose to pay for it? N/t roamer65 Oct 2015 #35

Taxes. n/t. byronius Oct 2015 #47

Nobody ever questions how to pay for it when we decide it's time to drop bombs on middle eastern Ed Suspicious Oct 2015 #59

Isn't that amazing? Live and Learn Oct 2015 #83

Please quit pretending this is not possible. California had free college education until Reagan Live and Learn Oct 2015 #84

How to pay for college? With a modest tax on Wall Street speculations. When the banks appalachiablue Oct 2015 #55

No, it doesn't. Hissyspit Oct 2015 #79

Yes, a 1% tax on all stock transactions. riderinthestorm Oct 2015 #104

But why should this particular source of debt be exempt from bankruptcy? Hoppy Oct 2015 #19

I suspect it is far, far worse now than it was before this law. magical thyme Oct 2015 #24

Tuition was far, far lower before that bankruptcy law. (nt) jeff47 Oct 2015 #66

If it wasn't exempt, wouldn't every kid Yupster Oct 2015 #72

So window it. Xithras Oct 2015 #101

There were many voices at the time that argued it shouldn't be. Hissyspit Oct 2015 #80

Note to student loan banksters : Stuff Happens ! Hoppy Oct 2015 #20

+1 nt Live and Learn Oct 2015 #85

Three family generations went to college, left with no debt & found good jobs. What happened? appalachiablue Oct 2015 #26

This^^^. byronius Oct 2015 #29

+1 mike_c Oct 2015 #48

Yep. This blame-the-victim shit makes me sick. Arugula Latte Oct 2015 #52

Yeah, that agenda seeps out like pus every time one these threads starts up Orrex Oct 2015 #68

In my own mind Marthe48 Oct 2015 #54

That's not out of the realm of possibilities. The growing activist middle class and large appalachiablue Oct 2015 #67

Yes it is Marthe48 Oct 2015 #88

That is precisely the problem. Voodoo free market Reaganomics. Enthusiast Oct 2015 #112

Good ole Dutch, RIP appalachiablue Oct 2015 #114

Hope there are some good lawyers with a lot of student debt willing to help out! Dustlawyer Oct 2015 #32

When I see stronger laws governing businesses I will consider pressing individuals Scalded Nun Oct 2015 #33

This! newthinking Oct 2015 #50

"That is not only sanctioned, but championed by many." TexasBushwhacker Oct 2015 #90

Hear, hear! smirkymonkey Oct 2015 #125

HUGE K & R !!! - Thank You !!! WillyT Oct 2015 #39

Not the best example MichMan Oct 2015 #40

that's why higher ed should be publicly subsidized... mike_c Oct 2015 #49

If you owed $ 75,000 at 6 % interest Yupster Oct 2015 #73

my loan is at 8+% (either 8.25% or 8.45%, can't recall offhand) mike_c Oct 2015 #108

I know someone who had their wages garnished for ten years and NONE of it went to the loan.... Spitfire of ATJ Oct 2015 #56

k and r niyad Oct 2015 #58

welcome to du, and thank you for this important post. niyad Oct 2015 #60

Good lancer78 Oct 2015 #69

Victims of student loans must be prevented from benefitting from bankrupcty Orrex Oct 2015 #87

+5 Two 'justice' systems. appalachiablue Oct 2015 #89

Only 5 more years and we'll be free. ileus Oct 2015 #98

K&R! nt riderinthestorm Oct 2015 #106

All student loan debt should be erased. WDIM Oct 2015 #107

Politicians claim the answer to joblessness is education.... Spitfire of ATJ Oct 2015 #110

Corporations receive the biggeat benefit from education. WDIM Oct 2015 #124

Good Sliceo Oct 2015 #118

for a while after grad school I had $1200 a month payments but my school wouldn't release my yurbud Oct 2015 #126

We need very cost effective two year colleges Babel_17 Oct 2015 #127

I'm much more keen on subsidizing community TexasBushwhacker Oct 2015 #131

Best decision I ever made MichMan Oct 2015 #129