“Wait till the school debt crisis hits. At least with real estate there was a building left to sell.”
Absolutely. Giving student loans to heads full of mush majoring in creative writing, ethnic studies, or just about any other “humanities” with no prospect of them being able to repay it is way worse than no-down, interest only liars loans to people with no or part time jobs.
I listen to Dave Ramsey every so often and the number of people calling in saddled with huge student loans is stunning.
I wonder what the red flag will be warning the bubble is about to burst.
Aquila: the red alert Wilber sounded when the dems get elected by the adult debtors and vote to have the taxpayers pay for their folly.
Hey, slow your roll a bit on the anti-humanities rant please.
I majored in Creative Writing, have both a BA and an MFA and I did just fine with my degrees. Not everyone can be a tech drone.
I made good money as a technical writer for the Harvard Smithsonian Center for Astrophysics, and then at various investment houses in Boston writing corporate and investor communications material.
I’ve also been paid to write in-house training manuals, production materials, etc. I now teach at a high school here in Florida: I’m certified to teach English 6-12, as well as math 6-12.
It’s not the degree sometimes, but the person holding it. In fact, most of my classmates went on to get very lucrative jobs. We have a skill that is marketable. We essentially have a turbo-charged English degree (at no extra cost.)
Hubby’s a lit major and he’d done JUST fine in software marketing.
I think the real problem is that the students being churned out these days are brain-dead drones. My classmates and I (class of ‘90) have all done extremely well in our fields because we were trained to think logically, not dwell in our “fweewings” and be fast on our feet. Conversely, I have a friend who graduated with a sensible computer science degree from MIT who then crashed and burned and is now an environmental and political activist (while wifey earns the bread because she was an affirmative action hire for Lucent Technologies.) Go figure. Respectfully.