How dare you say such a thing to parents who are victims of a crooked elite and a complicit MSM?
Either that or The Rising Tide of Racism in Amerikkka.
Colleges designed this scheme so that “Gender Studies” professors could get six-figure salaries and gold-plated benefits, while producing NOTHING worthwhile.
Bull Hockey.
Democrats specifically designed this scam so that they could buy ONE election when they really needed it by floating a long forgiveness scheme..
That time appears to be now.
I knew this would happen when they first started student loans
There is a super easy solution for future debt crises. It is called tactical math for self defense. If parents would read contracts when they buy cars or sign up for mortgages or co-sign for student loans, and LEARN WHAT INTEREST IS, there won’t be a problem in the future.
Obviously if kids would learn TACTICAL MATH FOR SELF DEFENSE, which is nothing more than the basics, adding, subtracting, multiplying and dividing without a calculator, they can figure out interest, but they also need to be real clear on how it affects them.
No one forced these people to take loans.
If the kids were so important could we abort them and sell their body parts for profits?
I don’t think so. :)
There’s another aspect to this situation that I never hear discussed anywhere: When prices start to get out of hand in any other industry, the CEOs of the companies involved are called before a congressional committee and ask to justify the situation. Why is this never done with higher education? Why aren’t the university and college presidents called on the carpet and asked to justify the outrageous tuition, lab fees, book fees, etc. that they charge? Why aren’t they asked to explain why, for example, a student is forced to pay several hundred dollars for a single textbook, that was, surprise, surprise, written by the professor teaching the class? (Especially when a comparable book can be found in Barnes & Noble for about $40.00 - $50.00) This is nothing less than price gouging.
Over the years the liability to the taxpayer keeps on growing.
The idea is that I’m working my way to no longer being a tax payer.
The bubble is bursting. Schools are going under.
We (well, late Great Uncle mostly, who entrusted us with funds) funded our grandsons comm. college..didn’t want him to sign up for loans. He’s finished 2 yr degree...not sure where he’s going...so glad he’s not tied into student loan!!!
Is there anything hat Lyndon Baines Johnson did that did not turn into a boatload of crap?
Gee...No idea why college is so expensive.
Insanity.
The job market has changed dramatically in recent years and for many people a college degree appears to be the only option vs flipping burgers for the rest of their lives. Increased demand allows colleges to charge more. Plus money is readily available to fund their education.
Unfortunately people have forgotten the purpose of college — learn skills and gain certifications for a future job. Nothing more.
Who’s At Fault For Student Loans?
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“It Ain’t Me”:
Just to say, I see some of their point. I don’t think parents are to blame at all. Colleges are to blame. And Government is the tool, which they use to cause the problem. Parents just have the wrong strategy. And colleges promote this wrong strategy.
As a father of five who has sent my kids to Hopkins and Bucknell and Wisconsin, I have decided that parents are thinking about it all wrong. The best strategy is not to send your kids to the hardest schools to get into. They are not the best schools. And they are not the best schools for your kids. And your kids will not get the best jobs going to them.
A dirty little secret, the best professors are not at Harvard. They are more likely at Alabama or Virginia or Michigan. They are at the schools that pay them the best and give them the best deal. If you get tenure and high pay at a well funded school, as a professor you’ll take the job.
Now after four of my five kids have gone to college, I will do it differently with my fifth kid. What I noticed is that colleges actually do a good job with the best kids. So, you worked really hard to get your kid into a “stretch” school and you find your kid is ignored by the school when it comes to jobs, internships, and research opportunities. And of course you have little negotiating power with regards to costs and scholarships.
So, I have come to the conclusion that the best school for most kids is the one that accepts them into their honors program. That means they will be treated very well. They are appreciated by the school and are often given preferred treatment for internships, jobs, and research opportunities. Also, grants and scholarships are assumed with honors students.
So, don’t stretch. You’re not helping your kid. Calculus is the same at Harvard as it is at Bucknell as it is at University of Illinois.
The best thing to do is to find the schools that really want your kid. You really need to have a portion of the students at your kids level. Maybe top 20%, is optimal. Those kids will all be in the honors program. So your kid will be with peers. And your kid will get the best professors, best jobs, sometimes the best dorms, at the best price.
It is really simple to solve the issue:
Make student loan debt dischargeable under bankruptcy.
Right now, making a student loan is about as gold-plated an investment as you can do. You are basically guaranteed a payback as there is no way the borrower can get out from under the debt. Yes, it may be deferred, but it cannot be forgiven except by the lender. They are explicitly excluded from bankruptcy proceedings.
So lenders have a guaranteed payback, and can even get liens on income and levies on assets to collect on the debt. Nothing can remove that debt - not even bankruptcy.
So lenders love to lend the money. It may be late in coming, but it will come.
So with all that money, universities know that students CAN get whatever funds are needed. So they raise their rates, far outstripping even healthcare increases. After all, money WILL flow, so why not charge as much as possible?
Making student loans dischargeable under bankruptcy would break this cycle. Suddenly lenders COULD be left holding the bag. They could see their loans go away, never to be repaid. So they’d quickly tighten the requirements for loans.
With a tighter money supply to students, tuition would HAVE to come down in price to keep the students attending. Too much tuition, not enough loans available? No students, and thus no university.
Simple change, just change the bankruptcy laws to include student loans. That’s all it takes. The threat of bankruptcy discharges would dramatically alter the way student loans are handed out, and that would dramatically alter what universities can charge.
And the student loan debt problem just goes away...
The stupid students who keep taking them out. The stupid government that backs them. The stupid colleges that charge insane amounts of money to employ stupid people like Ward Churchill and Skip Gates. BUT, the taxpayer who bails them all out. College is little more than a jobs programs for stupid people who majored in liberal arts degrees who are unemployable in the real world.