The student debt ‘crisis’ is students’ fault, and they shouldn’t get a bailout

[FakeNews]

When President Trump rolled out his recent budget proposal, it made some cuts that were always going to cause controversy. For one thing, his plan would slash subsidized student loan repayment plans, and let the government crack down on missed payments. To left-wing politicians who think the state should hand out more subsidies, this might as well have been Armageddon.

Yet while 45 million Americans are on the hook for more than $1.4 trillion in student debt, Americans should realize that millennials don’t need a government bailout or intervention. The student debt crisis isn’t as bad as it seems, and it’s a “crisis” of our own making. The average college graduate leaves school with around $31,000 in debt, which certainly sounds like a lot, but that’s just a monthly payment of approximately $300. So why are students really struggling to repay their loans?

Much of it comes down to choice. If you choose to study business, economics, engineering, computer science, or anything practical, you could see a starting salary of anywhere from $50,000 to $70,000. For people who make this much, it’s not very difficult to pay a few hundred dollars per month for student loans. With unemployment at its lowest levels in years, the labor market is tight enough that a new graduate with a useful degree shouldn’t have any trouble getting started in the workforce.

But if you major in philosophy or gender studies, you might struggle to find any job in your field, let alone a well-paying one. According to The Atlantic, “Underemployment afflicts more than 50 percent of majors in the performing arts, anthropology, art history, history, communications, political science, sociology, philosophy, psychology, and international affairs.”

http://thefederalist.com/2018/03/19/student-debt-crisis-students-fault-shouldnt-get-bailout/

 

[WoundedKnee]

The red laser dot has Kittah! focused on the fate of the unborn.

 

[phrodeau]

Trump wants to open trade schools to teach the next generation about manufacturing, so they can get jobs that will last as long as his administration.