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Thread: A Generation Hobbled by the Soaring Cost of College

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    Re: A Generation Hobbled by the Soaring Cost of College

    Don't forget: If everyone has a college degree, no one does.

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    Re: A Generation Hobbled by the Soaring Cost of College

    Quote Originally Posted by Samhain View Post
    Don't forget: If everyone has a college degree, no one does.
    A degree, in and of itself, is just a piece of paper. It indicates that the individual has a specific level of training and knowledge, nothing more. Even if everyone had a degree in the same subject, it would just mean a very well trained workforce, albeit in an incredibly overcrowded field.
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    Re: A Generation Hobbled by the Soaring Cost of College

    I want to say a couple of things:

    On the cost of college education and related current events:

    Prices have gone up a lot due to the fact that the federal government ties institutional aid to the amount of students receiving federal aid at the institution. This has only served to increase costs as colleges don't look to have any money left over, but rather go and spend all of their money.

    Currently, we have a situation where student debt is over $1 trillion and a bubble has been created with large amounts of people defaulting on their debts. A recent Associated Press article stated that for the class of 2011, half of them are either unemployed or underemployed and “underemployment [is taken] into consideration, the job prospects for bachelor's degree holders fell last year to the lowest level in more than a decade.” (Half of recent college grads underemployed or jobless, analysis says | cleveland.com)

    While many might automatically say that those are people who got 'useless' degrees, one has to look at the overall employment situation.

    Quote Originally Posted by Mr. Invisible View Post
    Currently U-6 unemployment is at 14.5%. (Portal Seven | U6 Unemployment Rate) U-6 stayed at 14.5% last month and was at 14.9% in February. So, really there is no actual recovery. The WSJ does a great job of explaining how the unemployment rate dropped (Why Did the Unemployment Rate Drop? - Real Time Economics - WSJ). I think we also need to realize that the government does game the numbers (No Jobs For Americans |) (The January Jobs Are Statistical Artifacts |).
    Thus, seeing as how in general unemployment prospects are low, one cannot just go and lay the blame on students for not being able to get jobs.

    Going back to the student debt problem, this should be of concern to everyone because there has been an increase in defaults on loans (you can't get rid of student loans in bankruptcy), which allows the government or lending agency to do such things as garnish social security payments or wages. Students are essentially thrown into debt slavery as if they can't pay their loans, their only choice is to default, which can have horrid effects on one's future financial security. (Consequences of Default)

    These lending institutions act just like regular banks do when they get a ton of people not paying their debts. They either A) Increase interest rates or B) Tighten the flow of credit, both of which will result in there being less educated people. This could have serious negative effects due to the fact that as America moves from an industrial to a knowledge based economy, there won't be as many people with the intellectual capacity to ensure innovation, creation, and generally stimulate economic growth, thus putting American technological and economic dominance at risk.

    On whether a college education is needed:

    I think that so many people have gone to college (myself included) due to the fact that our parents and society at large has consistently stated to us that the only way to have a successful life is to go to college. I would agree with this up to an extent. I think that overall, one pays mainly for a piece of paper. While college can be beneficial in many ways (for example, I wouldn't be doing the writing and research I am now had it not been for a series of events that took place during my freshman year in college), in reality there are few things one could learn without either reading extensively on the topic or investing in a textbook. While this is true, a college education is also needed by many employers, thus that is also another reason to go to college: to become employable. However, I think that employers should offer on the job training as that would give people more experience than ever sitting in a classroom would.
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    Re: A Generation Hobbled by the Soaring Cost of College

    Quote Originally Posted by Cephus View Post
    A degree, in and of itself, is just a piece of paper. It indicates that the individual has a specific level of training and knowledge, nothing more. Even if everyone had a degree in the same subject, it would just mean a very well trained workforce, albeit in an incredibly overcrowded field.
    I'm beginning to question that - the bolded statement. I think *generally* speaking it's suppose to mean that. . . but even if someone has A's it might be because they learned anything and *not* necessarily because they were a crap student: but becaues they had crap teachers. It's not a blanket issue, though - so it just puts me a little on edge and less likely to just *assume* someone has a degree and a good transcript and therefor was truly the 'best one' in the class.
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    Re: A Generation Hobbled by the Soaring Cost of College

    “As an 18-year-old, it sounded like a good fit to me, and the school really sold it,” said Ms. Griffith, a marketing major. “I knew a private school would cost a lot of money. But when I graduate, I’m going to owe like $900 a month. No one told me that.”
    The marketing major got suckered by good marketing.

    Maybe that was her first lesson.
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    Re: A Generation Hobbled by the Soaring Cost of College

    Quote Originally Posted by radcen View Post
    The marketing major got suckered by good marketing.

    Maybe that was her first lesson.


    Before I go into debt for 120K I'm gonna do a lot of ****ing homework.
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    Re: A Generation Hobbled by the Soaring Cost of College

    Odd, we didn't have this problem before LBJ, student loan programs, Pell grants, etc.
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    Re: A Generation Hobbled by the Soaring Cost of College

    Quote Originally Posted by UtahBill View Post
    Odd, we didn't have this problem before LBJ, student loan programs, Pell grants, etc.
    A higher education use to be *for* wealthy individuals - or those savvy enough to compell someone to literaly invest in their higher education.
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    Re: A Generation Hobbled by the Soaring Cost of College

    Quote Originally Posted by Aunt Spiker View Post
    A higher education use to be *for* wealthy individuals - or those savvy enough to compell someone to literaly invest in their higher education.
    I used the GI bill, after 12 years of active duty. Those friends from HS that went directly to college went on parentships, or scholarships.
    The wife and I invested in our kids education, to minimize the odds that they would continue to live with us in their adulthood.
    But, if things happen beyond their control, we have room for them.
    Long time from now, we may have to live with them, when we get really old....
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    Re: A Generation Hobbled by the Soaring Cost of College

    Quote Originally Posted by Grim17 View Post
    You know, if student loans and government grants didn't exist, I'll bet the price for college tuitions would be cut in half.
    Hmm lets see.. a huge portion of the student population would fall by the road, causing college bankruptcies.. leaving higher education only to the wealthy 1%.. yea, that would cut the price for sure...
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