Student Loan Debt The Truth

The truth hurts.
Yes colleges are more expensive than ever, that is a completely separate issue, and yes one I do believe it needs review.

Let's talk about the actual debt itself present day college costs.
First problem and the real truth. Students are taking out way, way, way way too much and it's not just for tuition. They are living a lifestyle that
took their parents decades to achieve. If you actually look at tuition costs, yes they are expensive, but most of them are no more than the price of a car for four years.

Second problem and what is really getting people, students and parents do not understand debt (not just student debt) If you get a very large loan and do not make any payments, interest will accrue, and continue to accrue. If your payment is less than the interest accruing, guess what, that amount is not going down. Somehow people seriously think if they took a 20K student loan out, didn't pay a cent in ten years, that they should still owe 20K. It doesn't work that way with car loans, or mortgages, so why are student loans any different? Why is this unfair?

Third issue and probably the most ignored. Some of these students are either not graduating, or graduating with useless degrees. These people would have been better off just not going to college. Yes that is harsh, but it's the truth. They made a bad decision and now how to live with it.

www.cnbc.com...

Delinquency rates decrease with each level of educational attainment: More than 30% of student loan borrowers with less than an associate’s degree are behind on their payments, 25% of those with an associate’s degree are behind, 11% of those with a bachelor’s degree are behind and 5% of those with a graduate degree are behind.

a reply to: JAGStorm
College has become an experience IMHO. It's a right of passage for some. It's no longer a place of competing ideas but a place where opposing ideas are not welcome, and indoctrination is the game plan not education.

Students are not making this decision in a vacuum. They are advised by parents, teachers and really society that this is the only route to success not just in their vocation but their very life. They don't know but what they are told until it is too late and they change majors, drop out or realize how many years of their life will be impacted.

We are all to blame. This crisis needs to be addressed not just by politicians and institutions but by our society in general. General studies degrees just don't cut it anymore.

Absolutely right on the money. Students who take out loans to get an engineering degree are not having a problem paying back their loans. Drama, English, feminist studies, and the like--not so much. Lot of stupid parents out there allowing this to happen, too.

a reply to: PhilbertDezineck

It's no longer a place of competing ideas but a place where opposing ideas are not welcome

Are you in college?

a reply to: schuyler

Drama, English, feminist studies, and the like--not so much. Lot of stupid parents out there allowing this to happen, too.

How can parents prevent their children from studying what they wish? The students, adults, are free to choose their own degrees and lives for their own, no?

a reply to: JAGStorm

The truth is that, yes, college costs way too much, depending on the college and the degree program.

You are correct about interest, and even though I accumulated very little in loan debt for my second degree, I have friends with advanced degrees from certain universities who have tons in loan debt.

That said,

Some of these students are either not graduating, or graduating with useless degrees. These people would have been better off just not going to college.

Define a useless degree.

originally posted by: Liquesence
a reply to: PhilbertDezineck

It's no longer a place of competing ideas but a place where opposing ideas are not welcome

Are you in college?

No just old age it should of been it has become a place of indoctrination rather than a place of education, where great minds have debated opposing ideas for thousands of years.

Universities are like Health care. Profit and bottom line capitalism. Perhaps the government should decide the curriculum and who can enroll in higher education and what course of study they can pursue; And regulate tuition costs.

Colleges compete for students. A big issue is that because the student loans are available and the demand is so high for the product, universities feel pressure to turn the student experience into a country club.

I graduated from a small HBCU 25 years ago. We had no air conditioning in our dorm. Shared bathroom with like 60 other students on my floor. No rock climbing wall. Prison like cafeteria food. No fancy food court with a Chipotle, etc.

My room mate freshman year was the son of a Hall Fame football player and coach. Yet, we weren't living in luxury. It was a phenomenal experience.

Nowadays, students have dorm rooms nicer than my $400,000 condo from 15 years ago. Amenities like club med. Yet, the wonder why it cost so much to go to these schools.

originally posted by: olaru12
Universities are like Health care. Profit and bottom line capitalism. Perhaps the government should decide the curriculum and who can enroll in higher education.

Correct. Liberal government market interference has screwed up both industries....

Get government out of student loans, health care, housing, etc and we wouldn't have these problems.

originally posted by: PhilbertDezineck

originally posted by: Liquesence
a reply to: PhilbertDezineck

It's no longer a place of competing ideas but a place where opposing ideas are not welcome

Are you in college?

No just old age it should of been it has become a place of indoctrination rather than a place of education, where great minds have debated opposing ideas for thousands of years.

Then you really can't speak to what it's like, what is taught, or what the ideas exchanged or debated are based on first-hand experience.

a reply to: JAGStorm

If you actually look at tuition costs, yes they are expensive, but most of them are no more than the price of a car for four years.

I have no experience with college but a car can be got for a few thousand and I gotta believe even a cheap college is going to be many times that over four years. Hey, I may be wrong but parents don't usually have a kids car fund, it's always a college fund.

Not disagreeing with anything else you wrote but that part seems a little absurd to me.

originally posted by: Liquesence

originally posted by: PhilbertDezineck

originally posted by: Liquesence
a reply to: PhilbertDezineck

It's no longer a place of competing ideas but a place where opposing ideas are not welcome

Are you in college?

No just old age it should of been it has become a place of indoctrination rather than a place of education, where great minds have debated opposing ideas for thousands of years.

Then you really can't speak to what it's like, what is taught, or what the ideas exchanged or debated are based on first-hand experience.

Early 70s WSU journalism major

a reply to: JAGStorm

Yes colleges are more expensive than ever,

Yes they are and that depends what program you are looking into or want to get into. At least where i am we have colleges that have programs that might be related to your interest of your filed that you wanted.

But for some time now these programs have betting expensive.
Even for International students.

There are of course some programs that arent expensive but the specif ones like journalism which is a constitutions from college to university is very expensive. If a student succeed at the college all of his or her terms. They might have a chance at a scholarship especially if they don't fail a term and get good grades.

originally posted by: Liquesence
a reply to: schuyler

Drama, English, feminist studies, and the like--not so much. Lot of stupid parents out there allowing this to happen, too.

How can parents prevent their children from studying what they wish? The students, adults, are free to choose their own degrees and lives for their own, no?

Parents still have a great deal of influence on their children, and they often help "the kids" with their education. Not all college age kids are completely emancipated and loans are not their only source of income. Loans are a PART of a student financial aid package that includes parents' contributions. Unless, of course, parents completely abandon their children to their own devices and disown them completely. If parents do not AT LEAST sit down with their kids and discuss financial reality with them, they aren't doing their jobs.

And if these "adults" are "free to choose their own degrees and lives of their own" then they need to take the responsibility of paying back their student loans like they agreed to when they signed on the bottom line. That's part of being an "adult," taking responsibility and not foisting their debts on to someone else.

originally posted by: PhilbertDezineck

originally posted by: Liquesence

originally posted by: PhilbertDezineck

originally posted by: Liquesence
a reply to: PhilbertDezineck

It's no longer a place of competing ideas but a place where opposing ideas are not welcome

Are you in college?

No just old age it should of been it has become a place of indoctrination rather than a place of education, where great minds have debated opposing ideas for thousands of years.

Then you really can't speak to what it's like, what is taught, or what the ideas exchanged or debated are based on first-hand experience.

Early 70s WSU journalism major

Fair enough.

That was a while ago. I always found the exchange of ideas and honest debate to be fair and far from indoctrination. And this from a mid 2000s Journalism major.

We've been saving aggressively for our kids education. However, I've decided that we won't require them to go to college unless they show an aptitude for it.

The thing is if you save say $200k for your kid to go to school, they'd be much better off just forgoing college and allowing that money to grow over 20-30 years.

If I took the $200k my kid will have for school and just keep it invested instead, when he is 48 years old he will have around $1.5 million for retirement. This is assuming a conservative 7% return on the money. We haven't even factored if he saves money on his own.

Think about it. Would you rather have $1.5 million in the bank at 48 years old OR to say you graduated from XYZ college with some bullsh*t degree?

originally posted by: Liquesence

originally posted by: PhilbertDezineck

originally posted by: Liquesence

originally posted by: PhilbertDezineck

originally posted by: Liquesence
a reply to: PhilbertDezineck

It's no longer a place of competing ideas but a place where opposing ideas are not welcome

Are you in college?

No just old age it should of been it has become a place of indoctrination rather than a place of education, where great minds have debated opposing ideas for thousands of years.

Then you really can't speak to what it's like, what is taught, or what the ideas exchanged or debated are based on first-hand experience.

Early 70s WSU journalism major

Fair enough.

That was a while ago. I always found the exchange of ideas and honest debate to be fair and far from indoctrination. And this from a mid 2000s Journalism major.

Colleges have long moved away from honest debate and exchange of ideas. You can't even have speakers who don't agree with whatever liberal trope du jour is being pushed without massive protests.

originally posted by: Liquesence

originally posted by: PhilbertDezineck

originally posted by: Liquesence

originally posted by: PhilbertDezineck

originally posted by: Liquesence
a reply to: PhilbertDezineck

It's no longer a place of competing ideas but a place where opposing ideas are not welcome

Are you in college?

No just old age it should of been it has become a place of indoctrination rather than a place of education, where great minds have debated opposing ideas for thousands of years.

Then you really can't speak to what it's like, what is taught, or what the ideas exchanged or debated are based on first-hand experience.

Early 70s WSU journalism major

Fair enough.

That was a while ago. I always found the exchange of ideas and honest debate to be fair and far from indoctrination. And this from a mid 2000s Journalism major.

I saw the shift coming from a honest non biased open mind, to one of group-think and balkanization of thought.