Student loan debt article

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TexasStash:
Anyone seen this? Sorry if posted twice. Would be interesting as a MMM case study to see the real lifestyle numbers and whether this was more bad luck or poor spending and planning.

Spoiler: not a happy story.

https://thebaffler.com/salvos/looks-like-debt-to-me-miller

ysette9:
Say all you want about personal responsibility, but there is something fundamentally wrong in my mind about a society that lets its vulnerable get themselves into these kinds of positions. My 17-year old self could have easily gotten into this kind of mess without appreciating the consequences because I was A KID at that age. Is this the new serfdom? We can and should do better. This doesn’t benefit anyone.

Raymond Reddington:

--- Quote from: ysette9 on July 16, 2018, 05:09:28 PM ---Say all you want about personal responsibility, but there is something fundamentally wrong in my mind about a society that lets its vulnerable get themselves into these kinds of positions. My 17-year old self could have easily gotten into this kind of mess without appreciating the consequences because I was A KID at that age. Is this the new serfdom? We can and should do better. This doesn’t benefit anyone.

--- End quote ---

This. Schools administrative payrolls have bloated as costs have risen, but the quality of the education hasn't justified the increases to tuition and room & board. Not only that, but I have a huge issue with nationally televised college sports for athletes that are unpaid attending on scholarship when many aren't fit to be in college in the first place, save for their athletic ability. Capital costs at colleges in general are out of control as well, as everyone wants to have the newest most technologically advanced dorms, and every tiny subset of each program demands their own building on campus.

For many the cost of attending college after high school isn't worth it - you can learn a skilled trade and make plenty of income and go back to school if you need to do add to your skills or learn something else. SIgning up to go over $100,000 into debt majoring in things that make you a more well rounded, cultural person, but are not often useful in any practical career, is a bad investment while being excessively leveraged. It will be interesting to see what happens, because colleges at some point, will have to answer for their costs vs. the benefits, and we may see a large reduction in the number of institutions running. At some point, I imagine employers will probably figure out sooner or later that it is cheaper to invest in training people who demonstrate a level of intelligence and aptitude, and then training them yourself, rather than relying on a $25,000 to $40,000 a year rubber stamp of a person who has no practical skills and still must be taught what to do, but requires the support of HR to verify all the college credits and transcripts upon receipt of applications.

Debts_of_Despair:

* Don't go to school for a major that won't pay the bills, ESPECIALLY if you are going to take out major loans.
* Don't rely on your parents to pay your bills
* Move the hell out of NYC!

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