Effect of Student Debt on the Economy Stupid
The road to hell is paved with good intentions. It's a good idea that everyone that wants it should get an education. The underlying problem is - exactly like healthcare - the system is set up to INSURE PAYMENT. This causes 2 massive problems.
1st - It creates an artificial monopoly in higher education's economic solar system. Econ 101, monopolies only benefit suppliers. There is absolutely ZERO incentive for the suppliers of education to keep costs down. The cost of education continues to rise unabated.
2nd - And to the point of the article, it burdens a generation of people with debt they can't get out from under - ever. Consumer debt is 100% modern day slavery.. Now if someone is going to be doctor, engineer, lawyer, architect etc then you can argue the 'investment' is likely to pay for itself. But the majority get a liberal arts degree or do something professionally that relegates the education to consumerism.
So yes, I'm advocating for turning the system on it's head for the long-term good of common person.
As it sits, these Student Loan organizations get draconian laws written so that people can never get out from under the debt. For example, if you have a real estate license in the state of WA, if you get behind on ONE student loan payment, they pull your real estate license - your means of making money.
Going full circle, the article is suggesting if people are forced to spend their expendable-dollar on debt, they won't spend it in the economy - thus no economic growth.
Comments
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Agree. The rise in education costs the last 30 years is absolutely absurd. There is no reason for it other than the money exists, via loans, so schools take it. And instead of carefully managing money to keep costs down, they buy armies of "administrators." It's a shit show.
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They are a terrible distortion of the free market. We've really screwed the pooch on this idea that a BA or BS is the only path to a middle class standard of living.
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Certainly the cost of education has escalated....but let's not discount the lack of personal responsibility of the millennials/millennials parents for lusting over bachelors degrees from elite public and private institutions.
Nothing wrong with a couple years at a community college getting the basics out of the way dirt cheap and then moving to a four-year.
I weep virtually no tears and give no fucks over student debt loads.
That said, Jake Browning sucks and college administrators should be forced to live on half their salary.
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While I do agree the cost of college has escalated to a point of being fucktarded. (I paid $3,500 a year in the late 90s, good luck finding that now).
Most if the rest of your post is idiotic and something a poor uneducated person thinks. First, how the fuck is there a monopoly?
Then this is the unemployment rate, what group has the lowest unemployment? Is it the high school drop outs? Or the college educated folk? You can rail on liberal arts degrees but it looks like they have jobs.
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PurpleThrobber said:
Certainly the cost of education has escalated....but let's not discount the lack of personal responsibility of the
millennials/millennials parents for lusting over bachelors degrees from elite public and private institutions.
Nothing wrong with a couple years at a community college getting the basics out of the way dirt cheap and then moving to a four-year.I weep virtually no tears and give no fucks over student debt loads.
That said, Jake Browning sucks and college administrators should be forced tolive on half their salaryrelocate to Kampuchean re-education camps.
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The judges will accept said edits.AZDuck said:PurpleThrobber said:Certainly the cost of education has escalated....but let's not discount the lack of personal responsibility of the
millennials/millennials parents for lusting over bachelors degrees from elite public and private institutions.
Nothing wrong with a couple years at a community college getting the basics out of the way dirt cheap and then moving to a four-year.I weep virtually no tears and give no fucks over student debt loads.
That said, Jake Browning sucks and college administrators should be forced tolive on half their salaryrelocate to Kampuchean re-education camps.
Fuck AAU parents with an AIDS/Ebola/VenoyOvertonWhoreSTD infested cheese grater.
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People forget that many universities have endowments that would allow free tuition without the feds paying for it or the student going into debt
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figures lie and liars figure
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PurpleThrobber said:
Certainly the cost of education has escalated....but let's not discount the lack of personal responsibility of the millennials/millennials parents for lusting over bachelors degrees from elite public and private institutions.
Nothing wrong with a couple years at a community college getting the basics out of the way dirt cheap and then moving to a four-year.
I weep virtually no tears and give no fucks over student debt loads.
That said, Jake Browning sucks and college administrators should be forced to live on half their salary.
In theory, I completely agree.
In practice kids are being sold debt hand-over-fist, and they aren't getting the guidance from theirparents, counselorsanywhere that it's a dangerous honey pot and what the long term ramifications can be. -
Nobody is surprised that a) you don't understand basic, fundamental microeconomic concepts, and b) you're parroting the establishment line to keep people enslaved by debt.2001400ex said:While I do agree the cost of college has escalated to a point of being fucktarded. (I paid $3,500 a year in the late 90s, good luck finding that now).
Most if the rest of your post is idiotic and something a poor uneducated person thinks. First, how the fuck is there a monopoly?
Then this is the unemployment rate, what group has the lowest unemployment? Is it the high school drop outs? Or the college educated folk? You can rail on liberal arts degrees but it looks like they have jobs.
#aclockworkshill
