Doesn’t help when professors are making over $400,000.00 for one class
Posted on 07/28/2019 8:14:28 AM PDT by SeekAndFind
With the growth in student loans continuing to soar, politicians and borrowers struggling with an issue that’s become both a financial and political problem.
Presidential candidates are proposing to cancel student debt and make public college free, state legislators are cracking down on student-loan companies and, recently, government agencies have offered another approach — teaching students and borrowers more about finances.
The Treasury Department recommended earlier this month that colleges should require students to take financial-literacy courses and representatives from the Department of Education told a group of financial-aid professionals this week that the agency is planning to add robust financial literacy tools to the app students can use to apply for financial aid and manage their student loans.
These proposals come after years of colleges across the country experimenting with ways to teach their students good financial habits and provide them with more information about their loans. The idea behind these efforts is to help students manage their finances while they’re in school and once they graduate.
Ultimately, it’s a laudable goal to help college students better understand their loans and their finances, but the question of how much to emphasize financial education underpins a broader debate about student debt, its causes, consequences — and possible solutions.
Robert Kelchen, a Seton Hall University professor who studies higher education finance, said lawmakers and experts often ask whether people are making bad financial decisions or if they simply don’t have enough money. “The answer is probably some of both — but it’s hard to tell how much is a literacy issue versus how much is a lack of money issue.”
Is providing students and families with more information enough to curb our nation’s $1.5 trillion student loan problem? So far, the research indicates that it’s probably not.
Here’s why:
(Excerpt) Read more at marketwatch.com ...
Obama’s Fault
Similar to when the government forced banks to make improvident real estate loans, now govt makes improvident student loans. It buys votes but wrecks lives and eventually damages the economy.
Students loans are a scam to subsidize leftist schools. Borrowers should be allowed to sue to get their money back, or declare bankruptcy and allow the court to get the money back.
Kids have been told that they needed to go to college so they wouldn't work at the same boring factory job Pops worked at for 30 years by liberals, and now our manufacturing base is gone and kids don't know how to use machinery and such.
This whole mess goes back even into Bush II’s era, the Clinton era and even before that. But it really accelerated in the 1990s.
I worked with a person who’d done a out-of-state situation...paying close to $90,000 for a degree that would have cost only $50,000 if she’d been a in-state person. At age 40, she was still paying for this mistake. By my calculations....she’d be near 45 years old before all of this loan had been paid off. At that point, she could afford to be a house.
Can I have car loan forgiveness? Retroactive too?
Doesn’t help when professors are making over $400,000.00 for one class
How about a more logical response than buyers remorse...
Choose a course of study that actually will result in a career versus those that bear no fruit and the chance of being hired in it and generating income to pay off your loans makes sense. As Another Freeper posited and I could not agree more it is a Federal program that supports the Universities and colleges, dominated by Leftist professors who in most cases do not even teach the classes but incessantly write papers
Publish or Perish is the name of the scheme
Furthermore, do a survey and ask how many who “teach” have ever worked a day in the discipline they purport to have mastered and share with others
Good luck, rarer then hens teeth
A business associate went through this for his Doctorate and was down to 2 schools and he asked this very question, will my classes be taught by someone who has actually worked in the field they teach?
The one he chose met the challenge, the other no and they are not some haystack boondocks institution
Alignment of student loans and industry needs and projection must be in the mix, as otherwise this subsidy for Liberal Educators will get worse than it already is
In the recruiting world College is referred to as The New High School as the skill sets of those leaving that level of Education is so poor a Degree becomes the necessary ticket to be hired at many companies. and how well we all must know in short that Education today is really Indoctrination
The Edutocracy, a KEY element of the conspiracy must fall
JMHO but several decades of dealing with the output professionally makes the point all by itself
bmp
Seton Hall University, My Alma Mater.
The loans by themselves are not the problem, the problem is the government guarantee which compounded by the notion there was never any attempt made to determine whether the borrower would be able to pay back the loans, ever.
So, now we are faced with a mountain of citizen guaranteed loans (1.6T at last count) with a notable amount in arrears. It is like the old joke, you borrow 10K from the bank, and the bank owns you. Your borrow 10 million from the bank, and you own the bank.
Make no mistake, I am 100+ percent against cancelling those debts. My recommendation is the program be stopped immediately going forward from here.
Back to my college experience. I needed about $500 to pay for my last semester. I had shares in a utility, El Paso Naatural Gas, stock worth about 600. I went to a bank and tried to borrow 500 using the stock certificate as collateral. The answer I got was I had no guaranteed prospect of being able to repay the note regardless of the value of the stock. That was my experience with student loans and no reason why that should not be the same today. If you cannot pay, don’t go.
Stop calling it "America's" student-loan crisis. It's the STUDENTS' student-loan crisis. I didn't borrow the money, and I'm sure as hell not going to be part of the fiscal responsibility.
Lesson 1: Don't take out a $200,000 loan to pursue a "Humanities" degree.
Because don’t you know, according to DemonRat philosophy, no one should be held accountable for their foolish actions. Make bad decisions- don’t worry, everybody else will make it alright.
RE: I didn’t borrow the money, and I’m sure as hell not going to be part of the fiscal responsibility.
Not to a President Elizabeth Warren. YOU and I will pay for it whether we like it or not, by her lights.
Hey Stupids...pay the loans back...crisis solved.
“In the recruiting world College is referred to as The New High School as the skill sets of those leaving that level of Education is so poor a Degree becomes the necessary ticket to be hired at many companies. and how well we all must know in short that Education today is really Indoctrination”
Reminds me of second sons graduation..by school, the names were called and all went up to get their degree paper. The largest ‘school’ was communications. After son got his papers I asked him what was the school that had many 100s getting a degree and his answer was - Communications— they all finally learned to read and write !
“.... the problem is the government guarantee...”
I agree! The banks get lower risk loans and the schools get free money. While we hate the process, loan qualification protects both the lender and the borrower.
I was an English major.
I learned at least as much, if not more, than I learned in medical school about human nature, which is a very important aspect of my work as a doctor.
There’s no course of study that’s fruitless, if you are smart enough to be in college in the first place.
Of course, that eliminates 75% of the “students”, which is why we have this problem to begin with.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.