Student Debt Exceeds $1 Trillion Any Solution?

[Cruella]

Federal Student Lending Swells

Nearly all student loans—93% of them last year—are made directly by the government, which asks little or nothing about borrowers' ability to repay, or about what sort of education they intend to pursue.

I'm surprised they have a choice. So when is Obama going to start mandating which career your going to pursue?

 

[BigRob]

I agree because companies always give great rates and for no profit and are never assholes if your late a bit

There is no doubt that college prices are increasing -- faster than they should be. So why? I say it is because of ease of access to capital to attend college. It is the same in any market -- when you artifically prop up demand -- you increase prices.

I didn't take any loans out for school -- so maybe I am out of the loop on this manner of thinking -- but my BA cost $40,000 a year, and my MS was expensive as well...there was no real reason for that in my view -- was the quality of education that far superior to that of a $20,000 a year school? Maybe -- maybe not.

My wife took out loans for her law school (which I paid off after we got married), but let me give you an example of a classmate of hers that I think speaks to the underlying issue with government student loans.

She went to a top 25 law school, and tutition etc was around $40,000 a year. A classmate of hers was in her 40's, and quit her job to attend law school. Fine. This classmate of hers was a complete moron with her finances -- huge amounts of credit card debt, had filed for bankruptcy once before, and yet the government had no problem basically handing her the money to attend the law school. Certainly there are some nuances in how it was divided up and what rates she got etc...but point being, this lady had no business taking on more debt, but she took on another basically $200,000 once you count living expenses and everything else.

She was a poor student -- graduated near the bottom of the class, and has now failed the bar three times. She will never pay this money back -- something that was obvious given her track record, but she got it anyway. So...who gets screwed in this scenario? The taxpayers who have to basically take that loss.

 

[Cruella]

College the way it is today is not only too expensive, it's inefficient.

I can't believe with all the access to computers etc. that they can't at least develope all the garbage underclass work accessible by computer. You can get lectures, homework etc over the internet. Of course you would have to take your exams in person to be sure it's you doing the work.

 

[PLC1]

Federal Student Lending Swells



I'm surprised they have a choice. So when is Obama going to start mandating which career your going to pursue?

Just as soon as he gets finished collecting everyone's guns.

 

[PLC1]

College the way it is today is not only too expensive, it's inefficient.

I can't believe with all the access to computers etc. that they can't at least develope all the garbage underclass work accessible by computer. You can get lectures, homework etc over the internet. Of course you would have to take your exams in person to be sure it's you doing the work.

Way too expensive. It was less expensive before computers were even invented, before the internet was thought of, before student loans became widely availab... Hey, I think I've thought of why college has become so expensive!

 

[Cruella]

Way too expensive. It was less expensive before computers were even invented, before the internet was thought of, before student loans became widely availab... Hey, I think I've thought of why college has become so expensive!

So your saying that taking college courses over the internet would be more expensive?

 

[GenSeneca]

Still, it shouldn't be that expensive, and no, we don't need to expect GenSeneca (or me for that matter) to pick up the tab.

Why don't you consider a college education to be a "collective benefit" that should be paid for through the forced redistribution of wealth?

 

[PLC1]

So your saying that taking college courses over the internet would be more expensive?

No, I'm saying that the price went up when it became possible for students to pay for it through government guaranteed student loans.

 

[PLC1]

Why don't you consider a college education to be a "collective benefit" that should be paid for through the forced redistribution of wealth?

Taxes, "forced redistribution of wealth" that they are, do pay part of the cost of college, always have. It's when the student pays nothing up front that the cost of college, or anything else, isn't real to the purchaser. Education should not be free, not at any level. That which is free (to the consumer, as nothing is really free) is seen, by the consumer (in this case the student) as without value. Everyone should pay, but no one should have to forgo an education because they don't have the money.

An educated population is, after all, a collective benefit.

 

[dogtowner]

No, I'm saying that the price went up when it became possible for students to pay for it through government guaranteed student loans.

not unlike how meducal.costs started exopoding once medicare came about

 

[GenSeneca]

Everyone should pay, but no one should have to forgo an education because they don't have the money.

An educated population is, after all, a collective benefit.

Then the solution should be obvious! We create "Education Insurance" and then force every single American to buy it... "From each according to his ability, to each according to his need", by application of that mystical magical principle (a process rumored to involve unicorn farts and leprechaun breath) the cost of education will miraculously fall!

 

[PLC1]

Then the solution should be obvious! We create "Education Insurance" and then force every single American to buy it... "From each according to his ability, to each according to his need", by application of that mystical magical principle (a process rumored to involve unicorn farts and leprechaun breath) the cost of education will miraculously fall!

Right, right, because any taxation is tantamount to Marxism and/or being beset and robbed by street thugs.

 

[Cruella]

Right, right, because any taxation is tantamount to Marxism and/or being beset and robbed by street thugs.

So you like the idea of taxing everyone so that some can get cheaper college tuition?

 

[GenSeneca]

Right, right, because any taxation is tantamount to Marxism and/or being beset and robbed by street thugs.

Forcing me, or anyone else, to fully cover, or even partially subsidize, the education (or HC, or food, or housing, etc) costs of others IS Marxist and it IS the moral equivalent of being robbed by street thugs.

But if forcing everyone to purchase HC insurance - Magically - makes the costs of providing HC come down, then why wouldn't creating Education Insurance, and then forcing everyone to buy it, have the same - Magical - effect on the cost of education?

 

[dogtowner]

money need not prevent any qualified student from higher education. universities spend a massive amount of money on scholarships. but dabblers and dilettantes need not bother to apply. there are far too many of these racking up student loan debt that will never be repaid.

America needs mechanics, garbage men and general labor as much or more than it needs people with useless BA degrees.