Mark Cuban: The Student Debt Crisis Is The Biggest Economic Problem In America

Business Insider ^ | 05/25/2012 | Mark Cuban

[Mamzelle]

I guess you can read ONE sentence per post. If you weren’t such an impatient and pompous jerk, you would have seen I was agreeing with you.

[Condor51]

IMHO the problem isn't student loan debt per se, but student loan debt to get a BS or BA₍₁₎ Degree that is completely, totally, and 110% - utterly USELESS in getting a REAL job after graduation. A BA in Psychology is the prime example. Even a Masters in it means squat. You need a PhD to get a REAL job in that field or you wind up flipping burgers or something just as demeaning for having a college degree.

Seriously, I KNOW a young man who has a BA in Psychology (so does his wife, its how they met) and the best job he can get, and which he has, is a Shoe Store Manager. So after all that time, effort and money (debt) he's a real life: Al Bundy! [If he was my kid, I'd have killed him!]

So it's things like that which are strangling the kids with debt. Useless degrees they can't use, so they can't pay back the loans, and they went for those degrees in the first place for... only God knows why?!?

(1) Personally I believe any 'Arts degree', the A in BA, is a waste of time, money, and energy unless you're doing it for kicks. Like a hobby and get a Bachelors Degree in Ancient Greek History.

[Danette]

My son just graduated from college last Friday. His major is computer science. He’ll be working for a well known .com making 65,000 starting next week. All the other computer science majors he graduated with (15) also found jobs easily.
All I heard at the graduation ceremony last week were parents worried their graduate won’t find jobs. Some of them think their child should go get their masters now and wait out the economy.
My son got through college on a scholarship. He lived at home, interned, and worked.

[Danette]

This is both sad and hilarious.

http://www.youtube.com/watch?v=FbXQgVJ_V68

I wonder if she found help.

[E. Pluribus Unum]

MORAL: Not everybody should go to college.

If your kid is going to major in partying, for instance.

Or "Communications." Or "Education."

[SeekAndFind]

Statistics show that close to A THIRD of those who go to college in America DROP OUT without graduating.

Another 25% take close to 6 years to finish college.

Clearly we have TOO MANY college students and not everyone is cut out for it.

We ought to look into emulating what the Germans do. All children enter in the same program, but at the age of 10, they go to one of four types of schools. The track that they enter determines which type of school they can next enter, and finally, weather they will go to a university or enter a technical field or trade school.

[LoveUSA]

Wish I had a High Five emoticon to send you.

Oh well! : D

[LoveUSA]

Funny, I didn't pick up a "bail out the college students" vibe from this article.

I really thought it was about how stupid it was to lead young people down the path to oppressive debt.

Your point will be considered. Mark doesn't seem like a huge lib on Shark Tank. I always thought he was just an ego maniacal man-child who has the cojones to go after what he wants.