“And it will be Americans who got duped by the promise of high paying dream jobs and financial stability who will pay the ultimate price.”
Horrible planning by many students and parents.
Some kids don’t want to work, others won’t take anything less than a mid level position, and the rest who want a decent entry level position and is willing to work up the ladder can’t find many jobs due to the Obama 6 year recession.
Then we'd have some idea of which departments had been basically living off the teat by producing a surplus of unemployable graduates at inflated rates.
And all members of the Free $hit Army.
Since the states have never delegated the feds, expressly via the Constitution, the specific power to regulate, tax and spend for intrastate schooling purposes, this issue reeks of another government-manufactured crisis, compliments of the ill-conceived 17th Amendment.
The 17th Amendment needs to disappear.
I worked for about 25 different colleges in New England. They are mostly small private and state universities. While you have heard of some of them, most are names you would not recognize.
aLL of them have been on construction benders. They are building new dorms, science centers, athletic facilities, etc. the colleges know the gravy train is going to end soon. Their alumni are going to start dying in droves. The Federal teat is going to dry up. They need to max out their credit cards now in order to cut all capital spending when the bubble bursts.
You certainly want your roof fixed before you get laid off. It only makes sense.
What the uninformed see as expansion, the more aware folks see as shrewd.
This is not going to end well.
They are learning to avoid payment and will fit right in via not paying their income tax!
Nothing another $500 billion of printed Federal Reserve money can’t fix!
There was an earlier story today about someone doing a student loan repayment boycott. Since nothing happens in a vacume when it comes to the entitlement society, I guess they are beating the tom toms for a debt forgiveness program now for delinquent student loans.
You are all assuming that these loans are for loans taken on four year colleges and most finished.
Many of these loans have been on two year schools, beauty schools, welding school and whatever schools the guidance counselors could get incompetent unprepared inner city youth and other teens into to make stats look good.
Academic, government-linked business and political administrators and politicians are frauds, thieves and robbers sucking on big, recirculating debt for their luxurious lifestyles. They sit on their socialist perches, falsely accusing and projecting their crimes on those who struggle to survive.
Go nonpolitical. Live as though political speech saturated with promotions for abominable, pathological social practices cannot be heard. Become more self-sufficient. Maintain all that you have to make it last as long as possible. Learn to do technical work with your hands. Never give up. Never give in.
I have a neighbor who was going to marry his old sweetheart but discovered she had almost $200k in student loan debt for her "Native American Studies" degrees... While he gave her a ring, he wisely decided not to marry her (So I and all the tax-paying suckers out there can live with the debacle to come!)
But these will be the same academia leading the charge for "free education" and wiping out all student loans, so I have little faith in the heads-full-of-mush.