the real reason college costs so much

[pete]

extremely interesting article, from a seemingly reliable source:

"In 1964, federal student aid was a mere $231 million. By 1981, the feds were spending $7 billion on loans alone, an amount that doubled during the 1980s and nearly tripled in each of the following two decades, and is about $105 billion today. Taxpayers now stand behind nearly $1 trillion in student loans."

"All the government subsidies intended to make college more accessible haven't done much for this population. Today, only about 7% of recent college grads come from the bottom-income quartile compared with 12% in 1970 when federal aid was scarce."

"Are American students learning any more today than a generation ago? Are they doing so at lower cost than a generation ago? No."

"30% of the adult population has college degrees," the author notes. "The Department of Labor tells us that only 20% or so of jobs require college degrees. We have 115,520 janitors in the United States with bachelor's degrees or more. Why are we encouraging more kids to go to college?"

the author sees similarities between the government's higher education and housing policies, which created a bubble and precipitated the last financial crisis:
"In housing, we had artificially low interest rates. The government encouraged people with low qualifications to buy a house. Today, we have low interest rates on student loans. The government is encouraging kids to go to school who are unqualified just as it encouraged people to buy a home who are unqualified."

full article here

 

[patient1]

Interesting.

Itching is to escalating tuition as increased government credit to students is to scratching.

 

[patient1]

Am I the only person who read the article?

 

[JAMESBJOHNSON]

The degrees people get are worthless, theyre worthless because special interests control access to all the professions. That is, the student learns the trade but cant get a union card (license). Education is a racket to get your money and give you crap for the money.

 

[dan_c00000]

Rolling Stone had a good article on this subject too.

 

[Sean]

Ah, a piece from the millionaires mag the WSJ lamenting the fact that the hoi polloi are getting edumacated. Who needs that when, as long as they can push buttons in the corporate machine and rack up the $$$ for the rich, they need no more?

 

[pete]

Ah, a piece from the millionaires mag the WSJ lamenting the fact that the hoi polloi are getting edumacated. Who needs that when, as long as they can push buttons in the corporate machine and rack up the $$$ for the rich, they need no more?

way to read the article. another proud moment for the UK.

one of the primary points is that the kids getting educated are paying too much, and not getting their money's worth.

 

[JVarney]

extremely interesting article, from a seemingly reliable source:

"In 1964, federal student aid was a mere $231 million. By 1981, the feds were spending $7 billion on loans alone, an amount that doubled during the 1980s and nearly tripled in each of the following two decades, and is about $105 billion today. Taxpayers now stand behind nearly $1 trillion in student loans."

"All the government subsidies intended to make college more accessible haven't done much for this population. Today, only about 7% of recent college grads come from the bottom-income quartile compared with 12% in 1970 when federal aid was scarce."

"Are American students learning any more today than a generation ago? Are they doing so at lower cost than a generation ago? No."

"30% of the adult population has college degrees," the author notes. "The Department of Labor tells us that only 20% or so of jobs require college degrees. We have 115,520 janitors in the United States with bachelor's degrees or more. Why are we encouraging more kids to go to college?"

the author sees similarities between the government's higher education and housing policies, which created a bubble and precipitated the last financial crisis:
"In housing, we had artificially low interest rates. The government encouraged people with low qualifications to buy a house. Today, we have low interest rates on student loans. The government is encouraging kids to go to school who are unqualified just as it encouraged people to buy a home who are unqualified."

full article here

Why did you make this post?

Are you still trying to pay off your student loan?

Hey slacker, get a job!

 

[Liar]

I always comes down to perverse incentives in a low regulatory space.

 

[Sean]

way to read the article. another proud moment for the UK.

one of the primary points is that the kids getting educated are paying too much, and not getting their money's worth.

"30% of the adult population has college degrees," the author notes. "The Department of Labor tells us that only 20% or so of jobs require college degrees. We have 115,520 janitors in the United States with bachelor's degrees or more. Why are we encouraging more kids to go to college?"

 

[SgtSpiderMan]

way to read the article. another proud moment for the UK.

one of the primary points is that the kids getting educated are paying too much, and not getting their money's worth.

That's not a point. That's entirely subjective.

 

[Sean Renaud]

way to read the article. another proud moment for the UK.

one of the primary points is that the kids getting educated are paying too much, and not getting their money's worth.

Which just means kids aren't getting paid nearly enough.

 

[Pairaclities]

If they would stop getting degrees in medieval history, or some other useless arts programs, then perhaps the debt load wouldn't be so onerous. And people with masters degrees wouldn't have to be taxi drivers and waitresses.
Get science and engineering degrees people, that is where the jobs are.
Make no mistake about who benefits - the learning institutions and the lenders.
Gov is only a backstop guarantee on defaults.

 

[SgtSpiderMan]

If they would stop getting degrees in medieval history, or some other useless arts programs, then perhaps the debt load wouldn't be so onerous. And people with masters degrees wouldn't have to be taxi drivers and waitresses.
Get science and engineering degrees people, that is where the jobs are.
Make no mistake about who benefits - the learning institutions and the lenders.
Gov is only a backstop guarantee on defaults.

What data shows the market can't bear those degree holders? I've also never met someone with a Master's who was waiting tables or driving a cab.

The reason the debt load is so much is in part because people start college & never finish. So now they have debt, and nothing to show for it.

 

[jeninflorida]

the solution is simple.



cut off all government funding for higher education and MAKE colleges compete for students and money

 

[jeninflorida]

What data shows the market can't bear those degree holders? I've also never met someone with a Master's who was waiting tables or driving a cab.

The reason the debt load is so much is in part because people start college & never finish. So now they have debt, and nothing to show for it.

maybe some day, you can get a real job

 

[RoryN]

maybe some day, you can get a real job

Jeninflorida's job: author...

Recently while taking a shower I discovered a bump down by my growing area.

I was a little nervous going to my Dr., as she is one hot milf.

My heart jumped when she asked me to show her my bumps.

http://www.literotica.com/s/dr-cindy

 

[SgtSpiderMan]

the solution is simple.



cut off all government funding for higher education and MAKE colleges compete for students and money

They already compete.

 

[SgtSpiderMan]

Jeninflorida's job: author...







http://www.literotica.com/s/dr-cindy

He gets paid to be an author?

 

[jeninflorida]

He gets paid to be an author?

oh Royie, you little coward. guess this is helping you make up for a little penis

its funny, how desperate you are! keep up the good work

 

[SgtSpiderMan]

oh Royie, you little coward. guess this is helping you make up for a little penis

its funny, how desperate you are! keep up the good work

Now if you were only desperate for a job.

 

[Pairaclities]

What data shows the market can't bear those degree holders? I've also never met someone with a Master's who was waiting tables or driving a cab.

The reason the debt load is so much is in part because people start college & never finish. So now they have debt, and nothing to show for it.

CBC did a documentary last year that profiled 4 graduates in Canadian cities. 2 had MA's. One of those was a waitress, the other a taxi driver. The waitress medieval history, the driver something similar.

It exists regardless if you have never met anyone in that position.

 

[SgtSpiderMan]

CBC did a documentary last year that profiled 4 graduates in Canadian cities. 2 had MA's. One of those was a waitress, the other a taxi driver. The waitress medieval history, the driver something similar.

It exists regardless if you have never met anyone in that position.

That isn't data.

Did they say why they were in the service industry. It could have been by choice. I live in Orlando. I know people who have advanced degrees and moonlight at theme parks to get free admission or work there because they retired.

 

[jeninflorida]

Now if you were only desperate for a job.

I'm not sure which one is the bigger criminal.

1. the college student racking up $80-400,000 in student loans

2. the schools for charging what they charge

3. obama for teasing the idea of student debt forgiveness

 

[RoryN]

oh Royie, you little coward. guess this is helping you make up for a little penis

its funny, how desperate you are! keep up the good work

Keep linking to and posting her "writing", folks. As you can see, the butthurt runs deep when you do.