another student loan sob story

The daughter of a friend joined her National Guard primarily for tuition payment reasons. She knew she would have to serve eventually. She graduated last week, and she leaves for Afghanistan next week, ans is looking forward to it, although her parents are not thrilled.

 

Even if we were to excuse students for being "too young" to know what they're getting into - (I do NOT ascribe to that theory, personally.) - I'm frequently amazed when I hear *parents* lamenting their son/daughter's great debt. My first thought is always, "Why did you let Johnny get into that mess to begin with?" I realize we have to let kids grow up and make their own mistakes at some point, but this is one situation where parental guidance would not go amiss! Of course, I suppose that's assuming parents will take the time to find out what other options are available, even if their children don't do so for themselves.

I am curious, too, what most people with English degrees do with them. I wonder if the majority do go on to grad school? My mother has an English degree, but she graduated from college over 50 years ago and, in her own words, choose English because, "I had no desire to be a nurse."

 

Why blame the lenders and the student what about the colleges and university systems AND the government.

The latter tossed around the ,a degree will earn a student an average of an additional $1,000,000 in ones lifetime then fraked over the system of grants that used to pay most of the costs of a public university education in many cases. I question that if you include the uber-rich (Buffet) and the average worker with a degree its pretty clear most earn a fairly decent salary that is all.In my area many such degree holders are earning around $30,000 a year or so. Seems to me one has to blame the government for not really looking into this properly.

Then the colleges and universities for pissing away money on buildings and programs to attract students obviously raising costs dramatically over inflation rates. Schools ,like where my grandfather went to to study medicine the University of Wisconsin Medical School, was good and had basic housing and facilities without the frills. Private schools were more likely to piss money away since they had the wealthy and endowments paying for them. Public fundedinstitutions usually were good basic schools offering to qualified students a respectable degree at a modest price. There is a reason most blue collar working families could send children to universities they were reasonably priced and debts were low.

Then the last fact who advised her a degree in English is not that marketable and likely would not lead to a job. Maybe she should have looked at learning a trade or getting vocational training but no one talked to her about that it seems its not politically correct. Its sad but the system is broken.

 

After student loans reach the point of being unpayable the student might as well go for broke and run them up to the max.
Then get a job overseas in a place like United Arab Emirates.

 

Lenders are giving loans to 16 year olds with no credit history and never had a job. The lender should be responsible for this foolishness instead of garnishing wages for the rest of the student's life.

 

I think there is a wide perception amongst lenders and borrowers that this crap-shoot is normal and it's a chance you take. Also, the downside of a young persons likely unrealistic ambition (usually a good thing!) is that they are likely to overestimate their future income--I know I did...

Also, I'm afraid my generation has not yet become sufficiently pessimistic in the systems that be for an undertaking as sticky as borrowing this much money. This is a situation where a healthy dose of realism is good for you.

So, although avoidable by many parties, I'd say we really do have to look to the government to issue the primary blame. They are the ones producing the artificial supply. As usual the private institutions are enabled and fearless because of the government.

 

This is simple in many European nations if you are not college material and they test for that you learn a trade at well regarded schools for that, and the rest go to college all paid for by the education system. This assures no debts for college grads at any level they can get to and this means no debts when one enters work. And maximizes the work force available.

In the US though they obliterated vocational education for the most part in High School and are making students go into debt for education at many levels, a poor system in my mind at least wasting free education. Poor students could be taught a valuable area of training in High School to be employable like they do in many nations. Right now when one is in school its assumed they are going to college it seems. In Florida they raised the demands for a High School Diploma to Algebra I & II, Geometry, Biology, Chemistry or Physics and one other Science Class in addition to English and other areas. Now can I ask folks here if your a low performing student in mathematics and/or science how can one expect students who are struggling now to earn a diploma in a public High School in my state? Where are the options for these students?

So I would say its the system that is hurting students at a fundamental level in this nation not students themselves most should not be going to college in a traditional rigorous program, one that would matter.