Posted on 09/19/2014 7:29:29 AM PDT by SeekAndFind
The media and advocates for income redistribution are creating a continual stream of stories about the student loan crisis. We are inundated with sob stories about people suffering under a crushing debt burden. The New York Times alone has had stories on how student loan debt is now a problem for senior citizens, how young people’s lives have been ruined, and how a whole generation will be unable to buy homes because of their student loan debt. Luckily, these stories are based simply on a few scattered cases. In reality, there is no student loan debt crisis and it is time for the media to report the facts, not the sob stories.
The New York Times informed its readers last week that there are now two million people over 60 years old that still have student loan debt, with an average loan balance of $21,000. To put this report in context, those two million seniors represent only three percent of all people in that age bracket and the average balance of $21,000 is only 78 percent of the size of the average car loan ($27,000). Assumedly many more than three percent of Americans over the age of 60 have car loans, yet nobody thinks that is a crisis.
Earlier this summer, The New York Times also implied that student loan debt is blocking younger Americans from buying homes. In reality, as the Times admits later in their article, the rate at which young people are buying homes is simply returning to its previous level because today’s young can see that the twenty-five year real estate bubble is over and there is no need to rush into home ownership.
(Excerpt) Read more at forbes.com ...
If you marry and both get a job and you live on one salary and save $20,000 a year or more you will have $100,000 in 5 years. You can pay off the debt and still have money for the down payment on a house.
There are 2080/hrs in a work year 40/hrs x 52 weeks.
If your single then good luck at the coffee shop after you graduate with the liberal arts degree.
Unless you went to a college where the science degrees were hijacked by the liberal arts administration and teachers to justify their salaries and positions. At the University of Tennessee the Microbiology degree was in the Liberal Arts Department and they forced one in order to get the degree in Microbiology to take several liberal arts courses (I called them Mickey Mouse courses). I took 75 hours in microbiology and ignored the liberal arts courses. I didn't get the microbiology degree but didn't care as I got the D.V.M. At other universities I would have had majors and degrees in micro, zoology, biology, and a minor in biochemistry.
Logical solution to the student loan crisis:
Get what you can (especially the general education stuff) at a community college. The credits transfer and cost a lot less. You will cut down your graduation debt by 25% to 50%.
Yeah, it is nowhere near as glamorous living at or near home and commuting, but in addition to being a hell of a lot cheaper, you will get classmates and instructors who still have at least one foot in the real world.
#12 Number 8 is Liberal which means do not care about their fellow man. Oh they will speak of it but they only want what you have and you be &%$#@!
I’m also amused by characters like Liz Warren that pitch interest rate breaks as a solution. The interest rate on these loans is almost never the problem. The people with a problem paying these loans back would have a problem if the interest rate was 7%, 3.5%, 1%, 0% ,or even - 1%.
I’m also amused by characters like Liz Warren that pitch interest rate breaks as a solution. The interest rate on these loans is almost never the problem. The people with a problem paying these loans back would have a problem if the interest rate was 7%, 3.5%, 1%, 0% ,or even - 1%.
The Education Industry has also managed to get the majority of employers to swallow the Kool-Aid. Most value a degree from a swanky university more than actual intellect or ability.
I attended a state university in the late 60’s and worked three jobs to pay for my own tuition and graduated debt free. I took classes year-round and graduated in three years, which help keep my overall tuition costs down. But I didn’t know other students who borrowed massive amounts to get their degrees. It was unheard of.
Student loans became a problem when the federal government started guaranteeing them. That made it easier to get the loans, and in turn, allowed the universities to keep raising their tuitions, since the students had borrowed government-guaranteed loans to pay for it instead of paying out of their own pockets. For the last 4 decades, college tuitions have increased tremendously, but the quality of education has gone down, shifting to more indoctrination of liberal ideologies into mushy minds than real-world skills to earn a living with. I mean what is someone going to do to make a living with a degree in LGBT and Womens’ Studies that costs $100,000 in tuition, besides trying to become a lefty professor to teach that same useless information to even more students down the line?
Now, Obama is talking about forgiving student loan debts, which will make the problem even worse. And that will teach those kids more financial responsibility won’t it? [sarcasm]. As always, getting the government involved in any private sector endeavor only makes things worse and lessens competition to brings cost down. It always ends up as a big cluster-f*ck that the government needs to step in and “fix” the problem they created. This is the game plan of big government liberals and their vision on how to stay in power and control of the masses.
Good one! Completely agree....and probably a better bet that the student won’t go down the wrong path as do many in those first semesters away from home (frat parties, drugs, etc.). I saw many go down that way...it seemed as though the people I knew that went to community college all finished. I wonder if anyone else experienced similar?
Thanks partly to that experience (and, I like to think, good parents), she went back even more serious, focused and determined than when she started.
Our other two girls didn't do the Community College thing, but both took a year or more off to work before going back to finish. We got the same result with them.
Parents who give their children Daddy's credit card and a promise to pay for the full four years do them a grave disservice. Even if the parents can afford it, which most can't.
-— Logical solution to the student loan crisis -—
We don’t do adult solutions anymore. We piss and moan and wish things were different. Then we kill the scapegoat.
This will only compound the loss, but we’ll be placated. Goldstein is dead!
And it's not as threatening to bosses as real intellect and ability.
KSFO San Francisco and the greater Bay Area. Good station. Been on the air FOREVER.
I believe it.
Lol. The EIGHTH deadly sin is "Liberal," is it? People are always liberal when they are young and stupid. USUALLY people grow up and become conservative.
"If you're not a liberal when you're 25, you have no heart. If you're not a conservative by the time you're 35, you have no brain."
There is no record of anyone hearing Churchill say this. Paul Addison of Edinburgh University makes this comment: "Surely Churchill can't have used the words attributed to him. He'd been a Conservative at 15 and a Liberal at 35!
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I still think it's a good quote, whoever said it.
Good article about rising tuitions and student debt. The link has an interactive map GIF file.
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