As someone in college who has a hefty amount of both public and private loans, I really don’t know what is so “misunderstood.” I knew I had to take loans to go to school, I chose the school I wanted to go to, I know how interest rates work and I know I’ll have to pay it all back.
Just some stupid questions: Why does everyone have to go to college? Why not go to a trade or vocational school that teaches practical things?
Unless you are taking hard science or math related courses, the crap being taught in college is pretty much useless (unless you want to be an academic).
Forget any degree that ends in “studies” — totally worthless. Likewise social studies and liberal arts are pretty worthless too. Going hundreds of thousands into debt is totally stupid. Fifty percent of graduating college seniors CANNOT find jobs.
The reason why students are pressed to go to college is a hold over from the Great Depression. College grad were less likely to be unemployed when jobs for average guys were hard to find or nonexistent. This is no longer the case. This is 2012 and not 1932.
I didn’t pay a dime for my degree. But I’m guessing many of today’s kids don’t want to enlist or go to OCS/the service academies/ROTC. My brother-in-law (little sister’s husband) had his degree paid for and was the honor graduate of his ROTC program, so he was a regular, not a reservist, from the get-go. He’s now a retired colonel with a high-paying defense contractor gig.
It is my understanding that colleges pay no taxes on their endowments. If this it true, then colleges should be required to use their endowment funds for loans. The portion of the endowment that is not used for loans should then be taxed at 15%.
The government gives the money away for nothing...takes over all the student loans and charges more interest than you pay for a car or a home.
It's just another "kitty".
I count myself lucky...my company had a tuition refund program. It took me ten years but I got my degree at night. But that was twenty years ago, when the cash per year allotment actually covered more than one course. Now you need a Bachelor’s degree just to get hired.
WHile trade schools don’t take as long as a four year degree program, they are equally expensive in their per semester tuition costs.
So would the incomes of Lefty academics.
Win-win.