The Incredible, Rage-Inducing Inside Story of America’s Student Debt Machine (1 Viewer)

[boutrous]

makes logical sense, BUT it also means that only rich kids can afford to take the classes that yield the higher salary positions - not a good recipe for a dynamic economy

Right that was my first thought. I certainly didn't grow up rich and had a lot of student loans out of college, but I got into a field where I made enough to pay them off rather timely. This is more in line with what he's thinking, I suppose. If kids are taking out loans anyway, why are they over charging the ones who will never make enough to pay back those loans? Now I will say, his wife is a long time high school principal, and she thinks his idea is crazy.

 

[SigFreudianSlip]

Right that was my first thought. I certainly didn't grow up rich and had a lot of student loans out of college, but I got into a field where I made enough to pay them off rather timely. This is more in line with what he's thinking, I suppose. If kids are taking out loans anyway, why are they over charging the ones who will never make enough to pay back those loans? Now I will say, his wife is a long time high school principal, and she thinks his idea is crazy.

For two of our 4 blended family kids, we pay monthly loans for their college. Have been for years. I’m gonna look at that. We may just be paying interest.

 

[efil4stnias]

I agree totally. Colleges are raising tuition for one simple reason. The individual is not actually paying, and they know it. They know the gov't will hand out the money. And Bernie Sanders wants free tuition. Yeah, ok.

30 years ago it was "High School Diploma" - then the tech boom...and it went to "College education" . Its been hammered home for the past 20 years that in order to chase the "american dream" that your success is directly related to your education.

As a parent, i struggle with this narrative. I have two girls. I would like both to attend college, but its up to them. My oldest plans on going. I will worry about tuition then and do what i have to do to make it happen. ( im hopeful that her grades/scores will offset some of the cost ). I know here in S LA , college, in part, are the connections you make. ( and locally, High School ) That can help you once you enter the workforce. But at the same time i dont want them to feel obligated.

And i SURE dont want them having the burden of debt soon as they graduate.

These companies are predatory. In the same vein ABC Mouse is- "you want your kid to read and write at age 3? this app ( that was once FREE - now monthyl cost ) is FOR YOU". They prey on this idea that education is the end all be all. Its sickening.

 

[dtc]

My 4 year degree tuition plus room and board ran about 15k per year late 80s to early 90s for one of the top schools in the nation. The expected salary of someone who graduated with my degree was about 65-70k. Today, that same school is $66,950. The kid who graduates today with my degree will not likely earn more than $75.

Everything has gone up except pay.

The current president of the school earns $950k per year.

I can't find a link to 1992, but I do seem to remember hearing the president made 185k.

Insane.

 

[bclemms]

My 4 year degree tuition plus room and board ran about 15k per year late 80s to early 90s for one of the top schools in the nation. The expected salary of someone who graduated with my degree was about 65-70k. Today, that same school is $66,950. The kid who graduates today with my degree will not likely earn more than $75.

Everything has gone up except pay.

The current president of the school earns $950k per year.

I can't find a link to 1992, but I do seem to remember hearing the president made 185k.

Insane.

So wages are going up.