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
-
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.
-
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.
-
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.
-
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.
-
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.
-
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.
-
People forget that many universities have endowments that would allow free tuition without the feds paying for it or the student going into debt
-
figures lie and liars figure
-
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 -
Ironic POTD. It's awesome watching someone ignore basic facts and tout the "liberal arts degree" rallying cry, then try to call someone else out for being a parrot.pawz said:
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
What about personal responsibility? If you want to go to Gonzaga and pay $50k a year and are too stupid to find scholarships, then you should be riddled with debt your whole life. -
Fuck off, shill.2001400ex said:
Ironic POTD. It's awesome watching someone ignore basic facts and tout the "liberal arts degree" rallying cry, then try to call someone else out for being a parrot.pawz said:
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
What about personal responsibility? If you want to go to Gonzaga and pay $50k a year and are too stupid to find scholarships, then you should be riddled with debt your whole life. -
Harvard's endowment is $36 Billion. Bama's is $632 Million. Harvard should hire Saban and quit sucking at football.RaceBannon said:People forget that many universities have endowments that would allow free tuition without the feds paying for it or the student going into debt
-
@pawz likes personal responsibility except when he doesn't.pawz said:
Fuck off, shill.2001400ex said:
Ironic POTD. It's awesome watching someone ignore basic facts and tout the "liberal arts degree" rallying cry, then try to call someone else out for being a parrot.pawz said:
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
What about personal responsibility? If you want to go to Gonzaga and pay $50k a year and are too stupid to find scholarships, then you should be riddled with debt your whole life. -
2001400ex said:
Ironic POTD. It's awesome watching someone ignore basic facts and tout the "liberal arts degree" rallying cry, then try to call someone else out for being a parrot.pawz said:
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
What about personal responsibility? If you want to go to Gonzaga and pay $50k a year and are too stupid to find scholarships, then you should be riddled with debt your whole life.
-
It's not just spending expendable dollars on debt, it's spending expendable dollars on education instead of other consumer goods (or savings). I'm going to have to take {some large number, but my starting point is 50K/year} out of what I spend on fun shit and divert it to some college 5 years from now. College Administrator Welfare is not really the most efficient use of that money and it sure as fuck doesn't make me happy like hookers and blow do.pawz said:
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. -
Run along and let the grown-ups talk. You're in over your head, son.2001400ex said:
Ironic POTD. It's awesome watching someone ignore basic facts and tout the "liberal arts degree" rallying cry, then try to call someone else out for being a parrot.pawz said:
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
What about personal responsibility? If you want to go to Gonzaga and pay $50k a year and are too stupid to find scholarships, then you should be riddled with debt your whole life. -
When you present a grown up argument, I'll recognize that. Until then you are a right wing parrot.pawz said:
Run along and let the grown-ups talk. You're in over your head, son.2001400ex said:
Ironic POTD. It's awesome watching someone ignore basic facts and tout the "liberal arts degree" rallying cry, then try to call someone else out for being a parrot.pawz said:
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
What about personal responsibility? If you want to go to Gonzaga and pay $50k a year and are too stupid to find scholarships, then you should be riddled with debt your whole life. -
sarksure.gif2001400ex said:
When you present a grown up argument, I'll recognize that. Until then you are a right wing parrot.pawz said:
Run along and let the grown-ups talk. You're in over your head, son.2001400ex said:
Ironic POTD. It's awesome watching someone ignore basic facts and tout the "liberal arts degree" rallying cry, then try to call someone else out for being a parrot.pawz said:
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
What about personal responsibility? If you want to go to Gonzaga and pay $50k a year and are too stupid to find scholarships, then you should be riddled with debt your whole life. -
You had to edit that?pawz said:
sarksure.gif2001400ex said:
When you present a grown up argument, I'll recognize that. Until then you are a right wing parrot.pawz said:
Run along and let the grown-ups talk. You're in over your head, son.2001400ex said:
Ironic POTD. It's awesome watching someone ignore basic facts and tout the "liberal arts degree" rallying cry, then try to call someone else out for being a parrot.pawz said:
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
What about personal responsibility? If you want to go to Gonzaga and pay $50k a year and are too stupid to find scholarships, then you should be riddled with debt your whole life. -
If that is aimed at me, I don't recall saying "many", but they are out there. I have two kids attending two separate such places.RaceBannon said:People forget that many universities have endowments that would allow free tuition without the feds paying for it or the student going into debt
Of course, we're full pay, so what do I know?
You all sound poor. -
It's interesting that 50, 60 years ago way fewer people got bachelor's. We're talking about ten percent give or take. Now it's just a business in many ways instead of a public good.
-
Yes, there is. CC is for losers who couldn't get their shit together in high school, which isn't really that hard to do. That tendency tends to follow you through life. I know 25 people who went the CC route; 24 of them wasted their time and should have just gone into a trade. And that's the population with which you'll be rubbing intellectual elbows for your first two years+. Sounds like a great plan. These are the people who continue saying "I seen that," well into their 30s and beyond.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.
No thanks. Creepy's kids are smart, and thus attend PRIVATE school all four years with other smart people. That's what makes you smart; not the author of the text book. Plus, it ups the odds that my grandcreepys will be smart, since that's the pool they'll likely draw from.
You get what you pay for.
-
Pomona's endowment is over $2 B for 1600 kids. Do the maff. They don't really need your fucking tuition money, but the school is such a draw that people who aren't poor gladly pay full price if their kids can get in, so they're never even approaching, much less pushing, their financial limits.YellowSnow said:
Harvard's endowment is $36 Billion. Bama's is $632 Million. Harvard should hire Saban and quit sucking at football.RaceBannon said:People forget that many universities have endowments that would allow free tuition without the feds paying for it or the student going into debt
So, yes. If there is a smart poor kid they want to admit, they don't pay a fucking penny, ever. No loans, no nothin'. They have more money than they know what to do with, and still the market price of their tuition goes up. There are probably, like, 20 to 25 schools in this category.
-
Vocational, Professional, Communications,Business Services and Teaching degrees.
Everything else needs to GTFO!!! If you wanna be a philosophy major, due it on your own time and dime. No grants or loans for that shit. -
Agreed. Too many people from loser families have been convinced they need to go to college to complete their lives.Fire_Marshall_Bill said:It's interesting that 50, 60 years ago way fewer people got bachelor's. We're talking about ten percent give or take. Now it's just a business in many ways instead of a public good.
The truth is a degree in Sports Management from Central Washington University is just a waste of time, and the opportunity cost of driving the street sweeper for the city for four more years will never be realized.
Let people like me and my kids worry about higher ed. The rest of you should just get the fuck to work. -
Spoken like a proud graduate of an agriculture school pretending to be an institution of higher learning.salemcoog said:Vocational, Professional, Communications,Business Services and Teaching degrees.
Everything else needs to GTFO!!! If you wanna be a philosophy major, due it on your own time and dime. No grants or loans for that shit.
I take it your sister has the communications degree. Here's some insight from the Creep: Comms degrees are for kids who couldn't handle the reading to be an English major. True story. That's why UW got rid of their Comms department years ago; it was an academic embarrassment. Although there's a rumor going around they re-opened it, now that they have so much money to spend. -
Ahhhh!! The Pumpy of the Tug has returned to form.creepycoug said:
Yes, there is. CC is for losers who couldn't get their shit together in high school, which isn't really that hard to do. That tendency tends to follow you through life. I know 25 people who went the CC route; 24 of them wasted their time and should have just gone into a trade. And that's the population with which you'll be rubbing intellectual elbows for your first two years+. Sounds like a great plan. These are the people who continue saying "I seen that," well into their 30s and beyond.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.
No thanks. Creepy's kids are smart, and thus attend PRIVATE school all four years with other smart people. That's what makes you smart; not the author of the text book. Plus, it ups the odds that my grandcreepys will be smart, since that's the pool they'll likely draw from.
You get what you pay for. -
Nothing Pumpy about it my Kewg bro. I'm entirely serious. I think CCs are a great safety net, and I'm happy to pay my fair share to support them. But that is what they are: a social safety net that, in 99% of the cases, is there to help catch another loser in the game of life.salemcoog said:
Ahhhh!! The Pumpy of the Tug has returned to form.creepycoug said:
Yes, there is. CC is for losers who couldn't get their shit together in high school, which isn't really that hard to do. That tendency tends to follow you through life. I know 25 people who went the CC route; 24 of them wasted their time and should have just gone into a trade. And that's the population with which you'll be rubbing intellectual elbows for your first two years+. Sounds like a great plan. These are the people who continue saying "I seen that," well into their 30s and beyond.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.
No thanks. Creepy's kids are smart, and thus attend PRIVATE school all four years with other smart people. That's what makes you smart; not the author of the text book. Plus, it ups the odds that my grandcreepys will be smart, since that's the pool they'll likely draw from.
You get what you pay for.
They also play a great role in career retraining, etc. I seen it when I was on the harbor with all of those timber guys needing to lern about computers.
But to have gained some economic mobility and to know better and still send one's kids through the academic equivalent of the lowest common denominator? Well, you do what you want. Not for the Creepy Klan. -
I disagree on the CC route. I went to a University for four years, but many of my friends went with the CC route, then ended up getting masters degrees. Unless you live below the poverty line, or are a minority, the number of scholarships available has shrunk considerably. In Oregon you can still qualify for the Dean's Scholarship, but that only pays about 25% of your tuition. Responsible students in lower middle class families can take the CC route for two years and get the undergrad done on the cheap while also working a job, and saving it for some of the tuition costs later at the University. It's probable that he/she may still owe some debt, but $10-$15k in school debt is manageable, while $50-$60k in school debt isn't for many.creepycoug said:
Yes, there is. CC is for losers who couldn't get their shit together in high school, which isn't really that hard to do. That tendency tends to follow you through life. I know 25 people who went the CC route; 24 of them wasted their time and should have just gone into a trade. And that's the population with which you'll be rubbing intellectual elbows for your first two years+. Sounds like a great plan. These are the people who continue saying "I seen that," well into their 30s and beyond.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.
No thanks. Creepy's kids are smart, and thus attend PRIVATE school all four years with other smart people. That's what makes you smart; not the author of the text book. Plus, it ups the odds that my grandcreepys will be smart, since that's the pool they'll likely draw from.
You get what you pay for.
You worked your ass off and got to where you can send your kids to private school. Props to you on that. Unfortunately, there are many people that aren't as successful as you, and their kids have to suffer some of the burden. The CC route is a way for them to achieve a diploma at a lower cost.
