Degrees For Dollars: Students Petition Uncle Sam To Refund Student Loans For Worthless Diplomas

Zero Hedge ^ | 11/13/2012 | Tyler Durden

[SeekAndFind]

Student debt has seemingly been the transmission channel of choice for pumping credit into the US economy for the last few years as the government addition of $1 trillion has done nothing but leave those under-55 with fewer and fewer jobs (especially above-minimum-wage jobs) while saddled with non-extinguishable debt. Of course, this 'pump' of credit has had the usual unintended 'inflationary' consequence of raising tuition prices (which as we noted this morning was the main driver of inflation in the UK overnight). So what would be fair? Cue: A Petition to "Provide University graduates the ability to trade their Diplomas back for 100% tuition refunds" The hope-driven (or hopelessness) push into higher education (and implicitly higher debt), in a nation where the marginal benefit of Calculus 101 over a strong right 'burger-flipping / coffee-machine-pressing' wrist is falling by the day, seems to warrant further societal protection. All that's needed is 25,000 signatures to move this forward.

We petition the obama administration to:

Provide University graduates ability to trade their diplomas back for 100% tuition refunds.

 

Because of the inability of recent college graduates to find gainful employment in order to repay their college debt, and since this college debt cannot be eliminated in bankruptcy, and most of the recent additions to the job market have been in service related industries, the Obama administration should take up the cause of reducing college debt and hold those accountable responsible.

 

In the name of Consumer Protection, recent college graduates should have the ability to return the diploma and not make any reference to receiving education from the college in exchange for a 100% refund of college tuition. This may be extended with a graduated (ha, get it?) reduction for the last four years, with a red line at January 20, 2008.

 

Click image for a link to the White House petition site...

[I want the USA back]

In a few years “free” college tuition will be an entitlement.

[Buckeye McFrog]

Something along these lines is going to happen.

College kids I know kept telling me about a whispering campaign taking place on campuses that Obama was going to forgive their loans in a second term. It’s how he turned out +5 million of them. Something is in the works.

[Tijeras_Slim]

Sorry kids, Obama doesn’t need your vote any longer, and student debt is a great way to control you.

[NEMDF]

Right.... the only good news is that they are asking the schools for the money at this point, not the taxpayers. My two graduated college in 2010 and 2011, have had no trouble getting and keeping jobs in their fields. What gives?

[Gaffer]

Maybe they should band together in a protest....in Washington...with tents and placards....lots of shitting on police cars, rape-free tents in the tent city and all that. All they need is a little help from the media, right?

[mom4melody]

this was the rumor in 2008 as well...

[2ndDivisionVet]

Seriously? Will this generation ever “man up” and just get out there and look for work or were they not raised correctly? Until my health went south I NEVER had a problem finding a good job, no matter where I lived and my degree is very much not from an Ivy League school. Is everyone today a whiner?

[Buckeye McFrog]

In a few years “free” college tuition will be an entitlement.

If they can stay in some type of grad program forever without piling up debt, then they never enter the job market and never put pressure on the unemployment stats. Plus all the socialists in academia remain fat and happy.

[brooklyn dave]

lOTS OF WORTHLESS DIPLOMAS OUT THERE. WHAT DO YOU GET WITH A DEGREE IN GAY STUDIES?

[brooklyn dave]

lOTS OF WORTHLESS DIPLOMAS OUT THERE. WHAT DO YOU GET WITH A DEGREE IN GAY STUDIES?

[nascarnation]

Why not?
Just create more Baraqqi/Bernanke/Geithner minibucks.
Party on dudes!

[DManA]

This democrat coalition will eventually come apart at the seams. How are they going to keep academia AND students
happy?

Academia want’s to keep screwing students.
Students want to screw academia.
The democrats stand in the middle.

[EEGator]

I’ll assume their majors weren’t African American and Womyns Studies?

[abishai]

Do these people even know who IowaHawk is? Does ZeroHedge understand this is satire?

[txrefugee]

Universities pump out thousands of journalism graduates to a dying print media, thousands more communcations graduates when TV stations have approximately 300 openings per year, thousands more liberal arts graduates who have zero job prospects and wind up as barristers at Starbucks.

Most of these unemployed graduates have huge student loan debt and no hope of paying it back. But really, where were their parents to pull the plug on this feckless venture? Better to start working after high school than to choose a worthless major that only results in crushing debt and joblessness. The only ones making money are the universities, which keep jacking up tuition.

[SC_Pete]

Bailouts for everyone!

[circlecity]

"My two graduated college in 2010 and 2011, have had no trouble getting and keeping jobs in their fields. What gives?"

That's probably because they got real degrees not degrees in Transgendered Mayan poetry or Wymen's studies or some such.

[Smokin' Joe]

SUCKERS!

You went and voted for him, duh-1, gonna give you something from his 'stash'. Going to forgive the debt you've incurred getting that BA in underwater tiddleywinks that wouldn't have sold in a good job market, and after 4 years or more of hard partying, you want your money back.

HAHAHAHAHAHAHAHAHAHA!

He owns you.

[Newbomb Turk]

Have fun waking up in your moms basement to that faded Obama poster suckers !

I don’t usually double down of failure, but when I do, I vote Obama !