[yldstrk]

yeah my kids won’t imbibe the poison pablum being passed off as education at our “institutions of Communist training” and they are both really brilliant and test very well

[lurk]

There are dumber things than college debt, but only a few.

[grania]

I've met some of these over-60 borrowers. When they lost their corporate jobs, they were sold a bad bill of goods. That was to get educated in another field. For those who couldn't afford it, it was mostly a mistake, especially factoring that they're not eligible to work in that field until they complete the education. Then, there's a real good chance they have to re-locate for a job, which they can no longer afford to do.

I'm surprised how low the average loan is at all age levels. It should be doable; it's not much more than is the average auto loan. JMHO

[volunbeer]

I wish more people were able to make the important link here.... this bubble was created by government, greatly inflated the price of college degrees (and academics salaries), and has created another debt crisis my children and grandchildren will have to pay.

Government is the problem. Once again, they will hold themselves out as the solution. The idea that everyone needs a degree is absurd.... if this was true, we would not have so many with 6 figure school debt working jobs that will never pay that debt.

[Iron Munro]

The die was cast when federal government intrusion and the injection of taxpayer money altered the role and function of colleges.

They were primarily institutes of higher learning for those equipped to benefit from an advanced education.

The federal government has transformed them into just an extension of Head Start.

[E. Pluribus Unum]

It’s going to be fun watching all those Liberal college perfessers looking for real jobs.

[Blood of Tyrants]

This is a result of the government promoting college for everyone. Many business majors get out of college and find the only job they qualify for involves flipping burgers.

[who_would_fardels_bear]

If this happens it will likely cement the oligarchy in place.

More and more young people will get their training through on-line credential programs and quickly and cheaply work themselves into reasonably secure places in the workforce.

Meanwhile, the top tier universities, who all seem to have endowments they can feed off for decades to come, will continue to choose those who will lead our governments, military establishments, and corporations.

We'll be a banana republic without the bananas.

[Ruy Dias de Bivar]

What we need is less College and University nonsense and more TRADE SCHOOLS in real world jobs.

Welders
Electricians
pipefitters
Plumbers (nasty but the money is GREAT)
Diesel and auto mechanics
Heavy equipment operators
heavy truck drivers
Machine operators (late and Computer drills and punches
Tool and die makers.

And many many more.

[pallis]

Sounds like another opportunity on the horizon for the Fed to bail out, and enrich bankers with money borrowed from future taxpayers. The borrowers, of course, will be left buried in debt forever. Banks will be more than happy to loan more money at lower interest rates to new students who get into the stimulus program before the next big bubble pops.

[tbw2]

Many of those over 60 are parents who took out loans with their kids. It would definitely be frustrating to be retirement age and paying on the debt supposedly to start your child off in life.