Posted on 01/30/2016 7:31:23 PM PST by TigerClaws
Every once in a while, when I’m feeling overwhelmed, I watch college commencement ceremonies on YouTube.
These rituals remind me how perverse our higher-education system is—and of the empty idealism that colleges and universities sell us:
We are here today, donning our ceremonial robes and caps, to recite the traditional vacuous platitudes and wish you well in paying off high-interest student loans for which we are in no way held accountable.
Let us now further romanticize our fair institution by singing the alma mater and conveniently forget that tuition has gone up 1,120 percent since 1978. Good luck out there, kids!
I’m a consumer of those vacuous platitudes and a victim of this system. After finishing my master’s degree in 2008, I found out—as in, I didn’t already know—that I had $200,000 in student debt.
Some well-paying professions might make this amount manageable, but for a bioethicist like me, it’s been crushing. Many things had to go wrong for this to happen—or right, if you’re a school or a lender. Although the hefty amount I owe is unusual, my experience is not: Motivated by an idealistic view of education and career and vulnerable to predatory, disingenuous, or at least negligent institutions, young people and their families too often take on large amounts of student debt.
No matter how much they owe, the consequences of that debt can be outsized. These young people may have to abandon their educations early; pay back far more, after interest, than they took out; manage exceptionally exploitative loan terms; shoulder serious, chronic mental distress; delay important life decisions; and participate less in the economy than they otherwise would.
(Excerpt) Read more at businessinsider.com ...
WTF is a “Bioethicist”, and why do we need them?
He wasn’t keeping track all along?
He doesn’t know how much they are borrowing?
Shocked, shocked. Right after commencement I discovered the $200,000 debt. No idea THAT was coming, no sir. It just appeared out of no where.
If only Bernie were president. Then college would be free just like kindergarten.
I wouldn't hire anyone who was oblivious to running up almost a quarter of a million in debt.
He had to graduate with a useless degree to determine he had accumulated debt? And jerks on this site damn Trump for trying to run a business school.
It must not involve math, or accounting
No, you found out when you signed the loan, idiot.
Someone else signed for the loans?
Restrict school loans to twice (or some other multiplier) the average yearly income for students 3 years after they graduate for students with that major.
In order to qualify for financial aid, you have to submit to have your taxes used to create these aggregate numbers.
Would help students get a reality check sooner that they were trying for a useless degree.
These days a “student loan” includes dollars for housing, food, etc...doesn’t it? It’s an IDIOT training system.
Apparently someone that 1) can't count, 2) can't get a decent paying job and 3) isn't capable of doing a cost-benefit analysis.
No kidding! This asshat would run your company into the ground in a heartbeat.
Which makes them prone to vote for the socialists(dems)>
The Republicans aren't prone to getting the taxpayers to pay off those debts. - Tom
I can’t associate with you if you dont know what a bioethicist is.
Why, my great grandfather was a bioethicist.
And my grandfather too, in Italy, was a bioethicict.
Pop was one of the best bioethicists in NYC.
And I wont have you insult my heritage!!!
guns at dawn. :)
My mother-in-law didn’t have a high school education and she was smarter than this idiot.
Running up debt like this is insane.
.
Student loan debt shouldn’t exceed one year’s salary - If you are going to get a job paying $50k, don’t take on more than $50k debt to get there.
It’s probably some worthless greenie degree.
No need to restrict them to any arbitrary amount.
Make them dischargable (again) in bankruptcy, or make the educational institution a co-signer, so that if the borrower can’t/won’t make the payments, the obligation reverts to the school.
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