The problem with the cost of education isn't the students willingness to attend, but rather the fact that student loan money is so easily distributed. Private schools charge 40-50k a year in tuition because they KNOW they can get the money from the govt and the banks, so for now money's no object. If we made student loans harder to get or had gov't regulations on what schools could charge for tuition, we would see prices stabilise or fall.this is hurtful, I dont know what I would do in this situation...maybe wanna commit suicide or something, when will people start boycotting expensive private colleges? so these prices could go down
This hurts my heart!
exactly student loan debt is the worse...I rather mortgage debt, because u have some kind of assets to show for it..or in worse case scenario u just stop paying it...or file bankruptcy but this student loan debt is like a jumbie riding your back.The problem with the cost of education isn't the students willingness to attend, but rather the fact that student loan money is so easily distributed. Private schools charge 40-50k a year in tuition because they KNOW they can get the money from the govt and the banks, so for now money's no object. If we made student loans harder to get or had gov't regulations on what schools could charge for tuition, we would see prices stabilise or fall.
The other problem is that alot of employers demand college degrees for jobs that don't need degrees at all really, meanwhile people are seeking degrees in subjects that won't give them skills necessary to find employment.
If you borrow 150k to get a degree in ANY field that isn't guaranteed to give you at least half that amount in salary, you're an idiot. The problem with people is that they don't see school as a financial investment in their future, idiot guidance councellors and college reps tell them that student loan debt is "good debt" and that they should follow their dreams and then when reality hits you at 25 they shrug they shoulders and say at least you had a college experience and have "critical thinking skills".
The only people I feel sorry for are people who's parents make too much money to get financial aid, but don't wanna pay they tuition so they get stuck with loans. Other than that, if you went school and decided to study foolishness then you deserve whatever happens to do. I see people switch to easy majors all the time that have shitty job prospects and wonder what they gonna do in 3 years time when they gotta pay they loans for this shit. Had a roomate paying FULL tuition (50k + 15k for room and board) and studying western literature...fxcking idiot.
student loan debt is the worst kinda debt...you get no assets for it, the interest is outstanding and theres no discharging in bankruptcy
yep totally agree, but like SkBai said earlier, it is easier to get student loan than a mortgage.exactly student loan debt is the worse...I rather mortgage debt, because u have some kind of assets to show for it..or in worse case scenario u just stop paying it...or file bankruptcy but this student loan debt is like a jumbie riding your back.
I have a low amount and I am trying to pay it off quickly cuz its annoying, but whats even more dumb is that financial planners tell some people its ok just pay the minimum on the debt, dont rush to pay it off...YEAH right I wanna pay it off in 2 years.
depends on what you want the MBA for and where you get it from...MBA's are a dime a dozen nowadays & prestige matters.A major problem is a lot of people who are going to college should not even be going to college at all!
This whole debt thing has me second guessing if I should do a MBA
I actually would much rather encourage someone to go into social work or teaching than hear they getting a degree in comparative literature or any of the humanities. At the very least, even though social workers are poorly compensated they have a skill which helps society and give them the tools to find employment. All ah dem ppl studying germanic studies or anthropology...while those fields are interesting, their degrees give them little skills other than writing papers and teaching that very same material to other people. Spending tens of thousands of dollars on an education that you could get in a public library for 1.50$ is foolishWhat do consider studying " foolishness" .?
I would not encourage my kids to go into social work or some other low paying field but I think saying studying " foolishness" and sounding so dogmatic about it is kinda stupid sounding
Outside of education, journalism and freelance writing there aint much out there for them...and in the last two categories it's VERY hard to make a living, much less make enough money to pay back any kinda debt.But people who study literature can get jobs in a wide range of fields......Still I think there is value is studying anything..... It's sad that people might not be able to live by it.... But we can't have a world where people study only medicine and engineering etc
Saying that you shouldn't borrow 150k of taxpayer money at 8% interest to get a degree that will more than likely NEVER provide you with a salary high enough to pay back that money is arrogance? Most of my classmates who have debt and liberal arts degrees WISH someone had told them this when we were 17 and signing our lives away for a piece of paper.I hope you keep this kind of arrogance off your medical school application..... Med schools are also looking to enroll people form the humanities and other areas....
I did a minor in history along with my BS in biology...I'm not disparaging humanities, social sciences or liberal arts but I'm not gonna pretend like its a smart investment to borrow six figures on those degrees. And yes, I can say that you could study many humanities and liberal arts for 1.50 at the library because I LITERALLY borrowed most the the required reading for my minor, from the NY public library.It's really foolish to say stuff like you get an education on certain subjects for 1.50. And to disparage the value or learning of another field simply because its not profitable ..... You might produce children that want to study them things... Be careful
I didn't suggest it, I openly said it and will stand by that statement, and I would know, since I've already done it. Like I've already stated, I'm not saying the information has no value in and of itself, but it certainly isn't worth six figures of debt and poor job prospects.You called the subjects "foolishness" and suggested that it could be found for 1.50 in a library ... This was the arrogance ...
Can you make the argument intelligently without the disparaging and arrogance is what I'm saying
I already told you I would not encourage my kids to do certain subjects for the reasons you state about roi. Return on nvestment
Most do fail, which is how many of them end up in the humanities in the first place, because it's really interesting as a field and something that one wouldnt mind doing forever if they could...but of course the majority can't since there simply arent enough jobsI will congrat you for getting into med school...... But you should know first hand how competitive it is..... C what I'f all you classmates decided to go on to the med tract for the roi..... Most of them would fail anyway and be miserable if its nt what they like .....
They should inherently be cheaper since the overhead for a department of philosophy or english is inherently much cheaper than a department of chemistry or engineering or physics.How about other solutions like lower the cost of humanities degrees ?