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Thread: One In Five Households Burdened By Student Debt, A Record

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    One In Five Households Burdened By Student Debt, A Record

    The share of American households affected by student debt has more than doubled in the last two decades, soaring from 9% in 1989 to a record of nearly one in five in 2010.

    The 19% of households weighed down by school loans is higher even than 2007, when 15% owed money for their education, according to a Pew Research Center analysis of government data.

    Young people are especially hard hit, as are poorer Americans. Among households headed by someone younger than age 35, four in 10 have student debt on the books.

    For those with incomes in the lowest fifth nationwide, school loans are equal to nearly a quarter of income. The same group holds 13% of all student debt in the country, up from 11% in 2007.

    But such debt is increasing for nearly every demographic in every economic category. Americans in 2007 owed an average of $23,349 — now they have to pay back $26,682.

    Student loans now make up 5% of all debts, up from 3% five years ago.

    Nearly 12% of people in their 40s have fallen behind on their student loan payments, according to the Federal Reserve Bank of New York. That percentage goes down to 9.1% for people in their 30s, 9.4% for those in their 50s and 9.5% for those older than 60.
    One in five households burdened by student debt, a record - latimes

    another wing of obama's majority coalition

    too many of our kids are pursuing worthless degrees

    Half of college grads can't find full-time jobs - CBS News

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    Re: One In Five Households Burdened By Student Debt, A Record

    Quote Originally Posted by The Prof View Post
    another wing of obama's majority coalition
    This has got to be the most forced inclusion of Obama's name yet.

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    Re: One In Five Households Burdened By Student Debt, A Record

    I don't think we can tag Obama with the problem but the cost of college and the student loan debt is a big problem. There is a huge profit incentive driving colleges these days. So many are expanding curriculums and building facilities like never before. The big universities are recruiting on value added services like expansive transportation systems, huge student health centers, state of the art dorms, athletic teams and facilities, food services, etc. What you don't offer just puts you behind in the recruiting game. The academic reputation doesn't seem to matter as much. You could go to the school with the more highly ranked business program but hey, they don't offer as much stuff.
    It may be that your sole purpose in life is simply to serve as a warning to others.

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    Re: One In Five Households Burdened By Student Debt, A Record

    Quote Originally Posted by jambalaya View Post
    I don't think we can tag Obama with the problem but the cost of college and the student loan debt is a big problem. There is a huge profit incentive driving colleges these days. So many are expanding curriculums and building facilities like never before. The big universities are recruiting on value added services like expansive transportation systems, huge student health centers, state of the art dorms, athletic teams and facilities, food services, etc. What you don't offer just puts you behind in the recruiting game. The academic reputation doesn't seem to matter as much. You could go to the school with the more highly ranked business program but hey, they don't offer as much stuff.
    But, but, but, most colleges and universities are non-profits. *snickers*

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    Re: One In Five Households Burdened By Student Debt, A Record

    The most important FACT here is for all this money our education acheivement or standing compared to all other countries is somewhere under the gutter. Our system turns out idiots as we continue to lower the standardas in order to keep the line moving. What a disgrace our education system is and alwaysa will be.
    It's nothing more than X's and O's.

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    Re: One In Five Households Burdened By Student Debt, A Record

    Quote Originally Posted by The Prof View Post
    One in five households burdened by student debt, a record - latimes

    another wing of obama's majority coalition

    too many of our kids are pursuing worthless degrees

    Half of college grads can't find full-time jobs - CBS News
    This is one of the few current issues that I won't give an ounce of blame to Obama. The problem comes from people sucking at planning and responsibility, period.

    To the students and recent college grads,
    Quit expecting the red carpet to roll out to the door of your dream job the instant you graduate. You should have a prioritized list of desired employers at least 2 years before you graduate. From this list, you should be contacting the employers to express your interest in working for them, including internships. This allows you and the employer to both plan accordingly. You can make sure you're going to be too good for them to pass up, rather than just meeting their minimal requirements. If you or the employer don't think a position is likely to be reserved for you right after graduation then consider the next on your list as a start and keep in touch with the more desired employer. If you've already graduated, focus on getting "a relevant job" and not "the job". Don't waste time whining, because that will obviously make hiring you look undesirable.
    "With me everything turns into mathematics."
    "It is not enough to have a good mind. The main thing is to use it well."
    "It is truth very certain that, when it is not in one's power to determine what is true, we ought to follow what is more probable." -- Rene Descartes

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    Re: One In Five Households Burdened By Student Debt, A Record

    If you don't want to go into debt to get a degree then don't go to college. Get a job making sandwiches and stfu you whinny damn cry babies.

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    Re: One In Five Households Burdened By Student Debt, A Record

    1. Figure out what jobs will help us stay competitive against the rest of the world
    2. Make a list of the degrees needed to fulfill those jobs
    3. Sick the penny pinchers on the colleges to curb wasteful spending
    4. Give anyone that can maintain decent grades a free education
    5. Enjoy a resurgence of high tech jobs and a stronger economy


    Duh

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    Re: One In Five Households Burdened By Student Debt, A Record

    It's not surprising. College education is great but way oversold as the "be all end all" of success. I've known more millionaires in La. that started as high school graduates than I can count due to hard work and natural curiosity and I've known plenty of college grads scratching to get to middle class. It's not about credentials as much as having a willingness to do what has to be done.

    That said, a college degree is an advantage but one must be willing to apply things learned to use in the job market. A degree is no longer a golden ticket.
    Neither side in an argument can find the truth when both make an absolute claim on it.

    LMR

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    Re: One In Five Households Burdened By Student Debt, A Record

    Quote Originally Posted by The Prof View Post
    One in five households burdened by student debt, a record - latimes

    another wing of obama's majority coalition

    too many of our kids are pursuing worthless degrees

    Half of college grads can't find full-time jobs - CBS News
    I think there are many factors that play a role in this, A) it's not like students can pay upfront for their college education, B) their parents have been hit hard by this economy and C) a lot of these kids pursue useless degrees that have no real world application, and a lot of them go on to extend these degrees.

    I have a liberal arts degree and that degree could apply to just about anything, and that is why I chose it.

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