A not very talked about situation

[CrazyCawi]

So I was doing a bit of research....and this is a tough subject and I do not intend it political. But I just cannot fathom the damages to our country for this....

On average there are roughly 1.2 million unemployed Americans between the ages of 18 and 24 who had completed some college or a college degree....

The united states education department reported in the 2009 fiscal year, that the defaulted student loan total was $50.8-billion....after taxes collected from us to pay it down, and thats not 100% correct, there is alot of fluff and buff on those numbers to make them smaller than they are according to many articles i read and researched.

so lets just take an average....20.4 million students attended college in 2011.
Statistically between private and public 4 year colleges....28.7% of those students will default on their loans.....

respectively lets say 18.7 percent begin repayment and get a few years into it before default....if just 10% of those people default.....thats 2,040,000 students defaulting in a year.

at 2.04 million students defaulting with an average loan of 25k(which is the national average)

College seniors who took out loans to fund their college education owed an average of $25,250, 5% more than the class of 2009 owed, according to a report from the Institute for College Access & Success' Project on Student Debt.

the total assumed debt by our country just from student loans is

$51,000,000,000...a year....for every $100 of defaulted loans....the government requireds a payback of $122 from tax dollars

which means 62,220,000,000 is owed by the tax payers each year....
Yet there is no regulation on tuition costs

Not only is this economic destruction....what are the ramifications of the 18-25 year old students who for the next 10 years at a minimum will have wages garnished, tax refunds garnished, and can not get a loan and some cannot even get jobs. There needs to be regulation on college tuition cost, and truly should be a cap on for profit colleges, or atleast a strong education of the student on the ramifications of the for profit college and the effect of debt on their life, because as of right now its like sharks in blood infested waters.

Hope you guys enjoyed my research....

 

[r0ar]

Just when I thought I was gonna go back to school... Damn CC thankssss.

 

[bleedinblue]

Yea thanks for sharing.I have wondered about that alot.
I did not go to college.But my sisters fiancée, and a couple of cousins are.
The situation my sisters fiancée is in is absolutely crazy.
Hes going to be a doctor, I cant remember what its called exactly, but he is a researcher in labs, not a normal doctor or a psychiatrist.
But anyway he has already graduated, and relocated out of state for grad school.After 2 more years there he has to relocate to Ireland for a few more years.
If he doesn't find any amazing job after finishing school hes gonna be hurting...

 

[Deanohh]

You can't make it not political because it is nothing but pure politics. If the bank wants to increase arm fees by .25 , its all over the news, its horrible , big wall street, those bastards, bla bla......

BUt universities raise tuition thousands year after year and its not Big Education, those bastards.... Instead its thats ok... Doesn't matter....you can just borrow more to pay for it...why worry? Where is the occupy education crowd? Never happen. Maybe its because most of them are a farm team for liberal politics and votes.

 

[monstermike4343]

reason numero uno i joined the military

 

[CrazyCawi]

30.4 percent of that debt comes from public schools....that means 69.6% of this is coming from "for profit schools" such as Rasmussen, or mn school of business, phoenix online, ect ect......

Students come in with no guidance...which isnt anyones fault really....but smoke screens are applied and students may go into a for profit school, start up, and get 1/4 way through the program and decide "shit thats not what I want to do" and have to restart a program from the beginning...when you switch programs they dont tell you now you realize your program starts over and you already accumulated 15,000 in debt, and its another 45k till you graduate. Their credits dont transfer to state schools either, so students who realise it half way through....cant switch. Its either pay and finish...or lose what you just paid for.

 

[CrazyCawi]

You can't make it not political because it is nothing but pure politics. If the bank wants to increase arm fees by .25 , its all over the news, its horrible , big wall street, those bastards, bla bla......

BUt universities raise tuition thousands year after year and its not Big Education, those bastards.... Instead its thats ok... Doesn't matter....you can just borrow more to pay for it...why worry? Where is the occupy education crowd? Never happen. Maybe its because most of them are a farm team for liberal politics and votes.

Tuition has raised on average 6% per year every year for the past 20 years....

 

[Rookasaki]

Unfortunately, past decades of bad decisions are now catching up with this country... This country has lived way beyond it's means.

 

[Wooster]

College tuition is getting out of control, but lets not put all the blame on them either. I still think these students need to take some of the responibility for not being able to pay off their loans. First of all it shouldn't takle 6-7 years to just get you Bachelors degree. All those classes you fail, you still have to pay for. I doesn't apy to be a career student. Second, if you can't afford to go to a 4 year school, go to a Community College for the first 2 years and get your Associate degree first then transfer those credits over. Third....don't try getting a degree in something that is not going to pay off in the long run. These people who get degrees in things like creative writing or poety crack me up. 4th....YOU NEED TO BE WILLING TO MOVE TO FIND A GOOD JOB. It sucks leaving friends and family, but you have to go where work is.

 

[Invader Jim]

Unfortunately, past decades of bad decisions are now catching up with this country... This country has lived way beyond it's means.

People live way beyond their means. It is too easy to get credit and too many people can't deal with delayed gratification. There are students who live frugal lives but there are also many who take their student loan money and spend it in bars every weekend.

 

[thtpilotguy]

As a senior in college on the five year plan I regret how I started out in college. I started out at 4 year school and accrued 20 k in loans. Transferred after 2 years back to a community college to get my priorities right. I now take all of my classes online through embry-riddle and save a ton of money. This also allows me to work a full time job and pay cash for my classes. I would reccomend this route to anyone(minus the first two year) as it allows the student to leave school with no debt.

 

[Kdubb223]

reason numero uno i joined the military

Roger that. SO when the shit hits the fan in this country and gas is above 10 bucks a gallon, I'll fall back on my training and keep myself and family safe

 

[See red]

OK, My two cents.


I am sorry but when a student decides to blow money they don't have, I did not have the ability to slap the shit out of them. You CHOSE to take those loans. PAY for them your dam self. I did, my wife did, my neice is, suck it up. YOU f-ed up not me. I also did not take some b.s. loans on my house, so f-you on that note too.




Why do these ashholes feel I should pay for them?????? really?????


I make around a buck and a quarter a year. I WORK....... for every penny, I also don't understand why the younger gens feel they can't get dirty anymore. " I want to be a programmer, or manager" please.... I make more than most white collar folks.


Kids today tout higher education.....what you don't see is why.... same reason people BELIEVE you must carry a credit card and be in debt to have good credit!!! LMAO!!!!

one more word............ WRONG!

 

[BoneJj]

that's an eye opening first post there... interesting.

 

[dart1963]

viscous circle...


and these are the people who eventually run the country... when an "honest politician" gets into office, people don't "like" to hear the truth and he/she gets booted next term, that's if they are lucky to get in in the first place... so we wind up with the "college educated bureaucrat" who we put through college, telling us how things should be... when they have no clue ("wait, we should have to pay for it, credit is good, that's what they taught us in economics and that's how I got mine")

:soapbox:


I think college for knowledge is good.. but I've met dummer than rocks individuals with Masters... stupid piece of paper doesn't make them worth the cost to print the thing

 

[FSXlover]

I'm 17 years old(almost 18). I finished high school yesterday.

I am choosing to work for $8 an hour 40+ hours a week. I personally think that school wouldn't be worth it for me. I also don't wanna add to the statistics.

And my job is fun.

 

[bleedinblue]

OK, My two cents.


I am sorry but when a student decides to blow money they don't have, I did not have the ability to slap the shit out of them. You CHOSE to take those loans. PAY for them your dam self. I did, my wife did, my neice is, suck it up. YOU f-ed up not me. I also did not take some b.s. loans on my house, so f-you on that note too.




Why do these ashholes feel I should pay for them?????? really?????


I make around a buck and a quarter a year. I WORK....... for every penny, I also don't understand why the younger gens feel they can't get dirty anymore. " I want to be a programmer, or manager" please.... I make more than most white collar folks.


Kids today tout higher education.....what you don't see is why.... same reason people BELIEVE you must carry a credit card and be in debt to have good credit!!! LMAO!!!!

one more word............ WRONG!

I dont agree with that, and I dont see how you have had to pay for anyones education besides your own..
It isn't welfare...
Our government SHOULD be able to LOAN a citizen money to better themselves and our country.

I could pay off 100% of my debt within the year if I made my mind up, and made the sacrifices needed to do so.I chose to learn multiple traits hands on instead of going to college.

But I don't see my friends in college being a problem.They are working for and deserving every bit of it.

The problem I see is the situation the generations before us allowed our government to put them into.If only those that can afford it go, this country is overwith tomorrow.
If somebody wants to be a doctor, thats great and I support them.

But how is it their fault if they dont succeed if they have no guidance, and go through the entire situation without any real support or knowledge about the entire situation they are dealing with?Yea some people are absolute idiots in college.

But whos name is the debt going into?Yours?
Who's fault is it that our government needs a loan to give a student loan?The students?

I see it the other way im sorry

Its pretty hard to live on your own, go to school, and survive when you live in a town that has less than 1000 jobs, a population of 15,000, and you have to accept a McJob until you graduate college, not to mention sacrifice 90% of what a normal teenage life was in the 70's to 90's.

 

[Rookasaki]

I'm 17 years old(almost 18). I finished high school yesterday.

I am choosing to work for $8 an hour 40+ hours a week. I personally think that school wouldn't be worth it for me. I also don't wanna add to the statistics.

And my job is fun.

Trust me. Go to school...

 

[bmw675]

I went and got my bachelors degree right out of HS, and its in a field that I no longer desire to be in (economics & finance). On top of that, I'm the only one in my entire dept with a degree (wasn't necessary at all), and make pretty good money too.

I think this is the problem with alot of the college grads not finding work to payback the loans. they have their mind set that they are only going to work in the field that they went to school for. Sometimes that just doesn't pan out and you HAVE to get a job to pay for what you owe. Most automatically think that they are 'better' than the available jobs.

I say for those who basically are refusing to pay their student loans, the universities should repo their degree.

 

[Rookasaki]

Similar topic so I'll post it...

So today theRook blew up... I told this lady off!

So I was at work. I watched a female chain smoke at least 8 cigs in a course of 30 mins. This lady was 9 months pregnant, looked like she had not slept in days and to add to the disgusting factor had meth sores all over her arms... She eventually enters the building and goes to court. She was charged with not taking her kids to school etc... To make matters worse she was late. Apparently smoking is more important then appearing in court.

She would have gotten remanded but being she's 9months pregnant the Judge decided not too. She ended up pleading guilty and get's a fine... When giving her the summary probation order to sign, she had the nerve to say that this was ridiculous and she cant pay this because she has three kids to feed. She started talking $hit about the justice system and how she feels we are out to get her etc... I'm being nice here when I say she was being a F'n b***h!!!! She then starts talking $hit to one of the court clerks... At this point I had enough...

I looked at her and said "How do you support your kids." She replies "Umm, I'm on SSI and they get welfare." Keep in mind she's had her kids taken away before due to drugs. She's never worked a day in her life. (thanks to california)

Here's when I lose it. This was not professional, and not right to say But I had enough.

I say the following:

" I, pay for you to sit on your @ss! I, support your kids because you chose not to. We the tax payers are sick and tired of people like you who suck the system. The world doesn't revolve around you. Get off your @ss and go to work, the money you receive isn't free. This state is 16 billion dollars in debt because of people like you. Reality check lady, I suffer from anxiety, stress etc... I drag my @ss to work mon-fri to support my family, not your's! It's called LIFE you should try it out sometime."

I'm so tired of people who choose to smoke dope and when their brain can't take it anymore, they receive SSI cause their disabled "poor them right"! Rant over I'm done........