Posted on 05/01/2018 6:32:00 AM PDT by GuavaCheesePuff
Student loan debt in America has been called a crisis.
The loans many students take out to cover their education can impair them from owning houses and saving for retirement later in life.
And many others can't even make their monthly payments. Some 40 percent of borrowers are expected to default on their loans by 2023.
In some states, the situation is worse than others.
That's the takeaway from a new project by The Urban Institute, a nonpartisan think tank, which has mapped student loan debt across the country.
Here are 10 states hit hard by student loans.
(Excerpt) Read more at cnbc.com ...
Washington D.C. is not a state. The reporterette needs to go back to school.
I have six kids. Three went to college. They all paid their own way through student loans or their own money. All three are making six figures and have paid off their student loans. All three got degrees in “paying” skills (e.g. engineering). All three are girls.
Interestingly, one did NOT get a college education but started his own business and is now a millionaire many times over. And no, his business is NOT internet based.
How does one repay a student loan with a degree in B-Racial Lesbian Studies?
Excellent!!!
Parents should be proud to see their children as millionaires.
Student loans is a issue that could cost America’s economy.
Surprises me. I thought it would be from the super expensive Ivy League schools and California.
Trump could start a tweet-storm by suggesting that George Soros should make them all those students solvent. :)
The one thing I drilled into my kids heads since they were kids was that you go to college not to get more money, but so that you can do something you want to do, rather than something you have to do, to earn a good income. But earning a good income is paramount to WHY you go to college.
At least, that is the case if you are middle class and paying for it yourself.
You did a lot of things right as a parent. Congratulations!
I have one child and she graduated from college without student loans.
Even better!
Crushing student loan debt already is costing America’s economy. A lot of those people will never be able to buy houses. That’s far from just a “tgem” problem when it’s 1/5th to 1/4th of the population. That effects the whole economy. Given that government interference created a bubble which artificially drove up tuition, some kind of bailout is in order. This is very similar to the real estate bubble.
I went the route via the Air Force. I ended up with two bachelor degrees, and two associate degrees. My total tuition cost (all done between 1980 and 1986): maybe around $6,000. Books? Well...yeah, that was hefty and in the $2k range, and I sold them for maybe half the value.
I even had some AF counselor who bluntly told me to get the whole first year of classes via some cheap community college (my share was like $70 per class), and they could force the bigger colleges to accept each credit hour.
There are tons of ways that people can economically carry out this objective without getting themselves deep into debt.
I keep asking to see the gun that was placed at these kids’ heads when they signed the paper that said “I promise to pay this back.” I know there was none to mine when I did (and then performed as promised and it was NOT a small amount for the day).
I know state schools have gotten a bit more expensive than in the past but a debt from most of them is manageable. There is ZERO reason for anyone to take on more of a debt than their chosen course of study can pay.
We don’t have a student debt problem. We have an irresponsible kids (and thus parent) problem.
a lot of the student debt comes from non academic kids who are forced into programs at local and community colleges as well as state schools by the high schools that want to make their to college numbers look good. They are carried along just like in high school, failing to make it but having their money taken.
“How does one repay a student loan with a degree in B-Racial Lesbian Studies?”
You have identified the problem! Worthless degrees in subjects where there is no possibility of earning a living. The “social sciences” are a black hole where this country’s money goes and there is no pretext of there being any return on our investment. The other thing that needs attention is tenure. That fat Muslim Pig “english professor” at Fresno State is a prime example of the negative effects of tenure.
“Trump could start a tweet-storm by suggesting that George Soros should make them all those students solvent. :)”
Better still, someone should start a pool on the most likely date for Soros to be off to Hell.
“Given that government interference created a bubble which artificially drove up tuition, some kind of bailout is in order.”
No it is not.
Do you always blame others for your (or your kids) bad decisions, or just with things related to college?
The Democrats are going to propose some big student loan forgiveness scheme to buy Millenial votes in the next election. Do not doubt me.
No, they are all locations that get a fair amount of snow (except for Wash DC, where the Govt generates its own snow jobs).
Obviously, more Global warming will correct the problem!
As with the Mortgage crash, any bailout will be for the benefit of any financial institutions facing big losses. Actual people will be an afterthought.
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