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Thread: Student Loan Debt Owed to Federal Government Up 463% Under Obama

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    Re: Student Loan Debt Owed to Federal Government Up 463% Under Obama

    Quote Originally Posted by Moot View Post
    Not everyone can be a football player and using most of the schools funding and resources to pay a coach's high salary instead of on higher learning seems like a good way to dumb down America ala the Mudsill Theory
    Winning football teams bring in more money than they cost.

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    Re: Student Loan Debt Owed to Federal Government Up 463% Under Obama

    Quote Originally Posted by Kobie View Post
    No they're not.
    of course they are, it is unsecured credit

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    Re: Student Loan Debt Owed to Federal Government Up 463% Under Obama

    Quote Originally Posted by Rocketman View Post
    of course they are, it is unsecured credit
    I see now we're redefining "welfare" again.
    Freedom of speech is not freedom from criticism.

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    Re: Student Loan Debt Owed to Federal Government Up 463% Under Obama

    Quote Originally Posted by Moot View Post
    "...Between 2005 and 2010, spending by athletic departments rose more than twice as fast as academic spending on a per-student basis.

    Median per-athlete spending by 97 public institutions that compete in the top-tier Football Bowl Subdivision increased the most: 51%, to $92,000, between 2005 and 2010, while median spending on education increased 23%, to just under $14,000 per full-time student.

    Meanwhile, tuition at four-year public universities increased an average of 38% and state and local funding rose just 2%, research shows.

    At schools where athletic budgets top $70 million, ticket sales are the largest source of revenue, followed by contributions and payments for television agreements and participation in bowl games and tournaments, the report shows. But fewer than one in eight of the 202 Division I schools in the report generated more money than they spent in any given year between 2005 and 2010....read...."

    Division I schools spend more on athletes than education


    The univerisities and colleges are spending more money on athelitics than they bring in. Meanwhile, students are going into debt for five to ten years of their working life just to get a mediocre education so they can get a job to pay off their student loans. What a racket.
    If you go to page 9 of the actual report:

    http://www.air.org/files/DeltaCostAI...IssueBrief.pdf

    You will find that the schools which pay the most per athlete also receive a tiny fraction of student fees and institutional/government support as part of their overall athletic budget. In other words, the schools which pay the huge salaries aren't leeching.
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    Re: Student Loan Debt Owed to Federal Government Up 463% Under Obama

    Quote Originally Posted by Rocketman View Post
    I just don't understand why we hand out that much money, I paid for all my kids tuition, they paid for their books and all are out with out any debt and my wife and I are not rich people.
    The irony of course is that the government wants to help you avoid a life of non skilled labor by helping with your loans for school, problem is that when you default, you can't claim bankruptcy and will always owe the money, causing you to spend the good most productive years in the workforce as a slave to the government, and oh by the way, probably not working at something remotely close to what you have a degree for.. So in an effort to help you avoid a destitute life, they (with the costs of tuition and percentage of loan default) invariably cause you a life of despair. Not all people default mind you, but an ever more growing number do, and it will continue to grow, especially in a miserable economy like ours.

    Ain't the government great?


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    Re: Student Loan Debt Owed to Federal Government Up 463% Under Obama

    There are lots of reasons for this, and most do not involve Obama. First of all, unemployment is up overall (which is partially Obama's fault). Second, there's a fundamental shift in the hiring paradigm of many companies and corporations these days. Now, for most kids, you're better off getting a job right out of high school instead of going to college. Now, for about 10% of majors out there, this is not the case (medical, science, law, business to some extent, etc.). However, most majors these days are a waste, and I'll tell you why. At one point, jobs were much more plentiful - and now they're not. In addition, the jobs that are out there often do not require a degree. Because of this, they can hire these 18 year olds and pay them a fair-for-an-18-year-old wage, train them how they want, and let them do jobs without exorbitant salaries. However, a kid coming out of a 4 year school with no actual experience in a field will go into a job expecting a much higher starting wage that companies simply do not want to provide. To an 18 year old, 9 dollars an hour to start is more than fair. To a college kid who has no income and 50-100K+ debt over the past 4 years, suddenly needing to live on his or her own? 9 dollars an hour does nothing for them. Companies recognize this.

    Today, I would tell kids that, unless they're going into a field that's highly specialized or requires licensure/certification, skip college right now and go get paid. Fit college in at some point (part-time) when you're preparing to move up the corporate ladder and it becomes necessary. If you try to skip that step and go to the next one, you're certainly going to fall down the stairs.

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    Re: Student Loan Debt Owed to Federal Government Up 463% Under Obama

    Quote Originally Posted by Rocketman View Post
    student loans are welfare
    Technically, they have to be paid back (for now). And the taxpayers are making a big profit off it, which is not right. However, its the 22bn a year in grants that are actual welfare. And if borrowers start to default, then it could cause all sorts of problems.

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    Re: Student Loan Debt Owed to Federal Government Up 463% Under Obama

    Quote Originally Posted by Gipper View Post
    There are lots of reasons for this, and most do not involve Obama. First of all, unemployment is up overall (which is partially Obama's fault). Second, there's a fundamental shift in the hiring paradigm of many companies and corporations these days. Now, for most kids, you're better off getting a job right out of high school instead of going to college. Now, for about 10% of majors out there, this is not the case (medical, science, law, business to some extent, etc.). However, most majors these days are a waste, and I'll tell you why. At one point, jobs were much more plentiful - and now they're not. In addition, the jobs that are out there often do not require a degree. Because of this, they can hire these 18 year olds and pay them a fair-for-an-18-year-old wage, train them how they want, and let them do jobs without exorbitant salaries. However, a kid coming out of a 4 year school with no actual experience in a field will go into a job expecting a much higher starting wage that companies simply do not want to provide. To an 18 year old, 9 dollars an hour to start is more than fair. To a college kid who has no income and 50-100K+ debt over the past 4 years, suddenly needing to live on his or her own? 9 dollars an hour does nothing for them. Companies recognize this.

    Today, I would tell kids that, unless they're going into a field that's highly specialized or requires licensure/certification, skip college right now and go get paid. Fit college in at some point (part-time) when you're preparing to move up the corporate ladder and it becomes necessary. If you try to skip that step and go to the next one, you're certainly going to fall down the stairs.
    A lot of truth in this. 15 years ago, I started going back to college. I went on the Dept of Education website to look at suggestions for degrees that fit my experience. They had a statistic posted there that said that "70% of undergrad degree holders do not work in their field of study".

    Now, that has completely changed. Employers are asking for degrees in that specific field. They can, because it is an employers market. There are way more people looking for jobs, than openings.

    Every young person that comes to me for advice (and there are quite a few), I tell them the same thing. Get the most technical degree that you can get. Engineering grads from my Alma Mater, normally, have jobs lined up before they graduate. My oldest boy's best friend from High School did not listen to me. He graduated almost 2 years ago with a degree in history. He still cannot find a job. He is working at Panera Bread... The sad thing was... He was an honor grad in High School. Took all the Advanced Placement classes in Math and Science. But he even admits, he chose the History degree because it was easy for him and allowed more party time. The choices we make.........................................
    As a dreamer of dreams and a travellin' man, I have chalked up many a mile.
    Read dozens of books about heroes and crooks and I've learned much from both of their styles!

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    Re: Student Loan Debt Owed to Federal Government Up 463% Under Obama

    Quote Originally Posted by Gipper View Post
    There are lots of reasons for this, and most do not involve Obama. First of all, unemployment is up overall (which is partially Obama's fault). Second, there's a fundamental shift in the hiring paradigm of many companies and corporations these days. Now, for most kids, you're better off getting a job right out of high school instead of going to college. Now, for about 10% of majors out there, this is not the case (medical, science, law, business to some extent, etc.). However, most majors these days are a waste, and I'll tell you why. At one point, jobs were much more plentiful - and now they're not. In addition, the jobs that are out there often do not require a degree. Because of this, they can hire these 18 year olds and pay them a fair-for-an-18-year-old wage, train them how they want, and let them do jobs without exorbitant salaries. However, a kid coming out of a 4 year school with no actual experience in a field will go into a job expecting a much higher starting wage that companies simply do not want to provide. To an 18 year old, 9 dollars an hour to start is more than fair. To a college kid who has no income and 50-100K+ debt over the past 4 years, suddenly needing to live on his or her own? 9 dollars an hour does nothing for them. Companies recognize this.

    Today, I would tell kids that, unless they're going into a field that's highly specialized or requires licensure/certification, skip college right now and go get paid. Fit college in at some point (part-time) when you're preparing to move up the corporate ladder and it becomes necessary. If you try to skip that step and go to the next one, you're certainly going to fall down the stairs.
    I attended for 2.5 years and then realized I did not need to be there as it was holding me up. We have income from investments and my career now which I have based on experience not some thin piece of paper

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