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

Moot said:
Oh? .....
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Nope. Those salaries are paid out of the athletic departments, which make their money independent from general university funding. Endorsements, broadcast deals, what have you. It doesn't impact tuition costs at all.
 
Kobie said:
Football and basketball are revenue-generating sports, and that money generally goes to fund their respective athletic departments.
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It seems strange that a university would have furloughs, hiring freezes, layoffs of staff, and reductions in operating expenditures and even lay off entire departments of learning .....and then give the coach an 800K raise.


Division I schools spend more on athletes than education
 
Moot said:
Gee, the rising cost of tuition wouldn't have anything to do with those multi million dollar salaries that universities and colleges have to pay football and basketball coaches nowadays, would it? The institutions of higher learning seem more interested in chasing balls than academia and teaching the young how to earn a living in the real world.
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Has nothing to do with that. They are paid from a completly separate source. Who Pays the College Coach - WSJ.com

My alma mater has no football program. And yes, they are a private school that tends to be a bit more costly, but they are still so full each year that they turn qualified people away.... And they charge ~$16k per semester........ that is not for a DEGREE, that is ONE SEMESTER.
 
Harshaw said:
Nope. Those salaries are paid out of the athletic departments, which make their money independent from general university funding. Endorsements, broadcast deals, what have you. It doesn't impact tuition costs at all.
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"...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.
 
Moot said:
It seems strange that a university would have furloughs, hiring freezes, layoffs of staff, and reductions in operating expenditures and even lay off entire departments of learning .....and then give the coach an 800K raise.


Division I schools spend more on athletes than education
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Good article, Thanks.

How much money does Ford spend on advertising? How many lay offs has Ford had in the past 8 years?
Same question about any company.

College sports is nothing but a giant advertisement for the school. I can promise you I would never have heard of Boise State if not for their football success in the last few years. Same with many of the smaller, "bracket buster" schools from the basketball tournament.... and I don't even watch basketball... but I have heard of Gonzaga because of it.
 
Chiefgator said:
Good article, Thanks.

How much money does Ford spend on advertising? How many lay offs has Ford had in the past 8 years?
Same question about any company.

College sports is nothing but a giant advertisement for the school. I can promise you I would never have heard of Boise State if not for their football success in the last few years. Same with many of the smaller, "bracket buster" schools from the basketball tournament.... and I don't even watch basketball... but I have heard of Gonzaga because of it.
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To my knowledge Ford isn't a publically funded company whereas a lot of state universities and colleges are. Personally I think colleges and universities have lost sight of their priorities which is to teach kids marketable skills so they can get a job in todays market. Instead of promoting science and engineering, they promote football or basketball. Meanwhile the rest of the world is surpassing the US in science and engineering and employers in the US are forced to hire foreigners because our institutions aren't graduating scientists and engineers, instead they're graduating ball chuckers.
 
Moot said:
To my knowledge Ford isn't a publically funded company whereas a lot of state universities and colleges are. Personally I think colleges and universities have lost sight of their priorities which is to teach kids marketable skills so they can get a job in todays market. Instead of promoting science and engineering, they promote football or basketball. Meanwhile the rest of the world is surpassing the US in science and engineering and employers in the US are forced to hire foreigners because our institutions aren't graduating scientists and engineers, instead they're graduating ball chuckers.
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Again, I disagree.

At Embry Riddle Aeronautical University, their Engineering department is chock full of foreign students. I think the Universities are graduating students that can pass the course.... and those with the backgrounds to do so are coming from better primary school systems... OR they want them more.


The University of Florida has ~80 men on the varsity football team. They enroll 50,000 anually.... Graduating ball chuckers is hyperbole
 
So, that begs the next question.....

That young kid from some inner city school that gets a baskeball scholorship. Is he better off after four years of ball chucking while earning a degree in underwater basket weaving? Or would he have been better off never having gone to the college in the first place because ther UBW degree is garbage?
 
Chiefgator said:
So, that begs the next question.....

That young kid from some inner city school that gets a baskeball scholorship. Is he better off after four years of ball chucking while earning a degree in underwater basket weaving? Or would he have been better off never having gone to the college in the first place because ther UBW degree is garbage?
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He's one kid out of hundreds of thousands of ghetto kids who dream of becoming either a sports star or a wrapper but never will. For most, that dream is about all they have.
 
Moot said:
He's one kid out of hundreds of thousands of ghetto kids who dream of becoming either a sports star or a wrapper but never will. For most, that dream is about all they have.
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If I was going to be a wrapper for anything, it would be a Kit Kat.
 
Chiefgator said:
Again, I disagree.

At Embry Riddle Aeronautical University, their Engineering department is chock full of foreign students. I think the Universities are graduating students that can pass the course.... and those with the backgrounds to do so are coming from better primary school systems... OR they want them more.


The University of Florida has ~80 men on the varsity football team. They enroll 50,000 anually.... Graduating ball chuckers is hyperbole
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Well, that does beg the question, why are there more foreign students in the engineering departments than US students?
 
Kobie said:
If I was going to be a wrapper for anything, it would be a Kit Kat.
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oops, did I say wrapper? LOL yeah dats what I meant, a candy wrapper....or gift wrapper. lol RAPPER...I meant rapper. rrrrrapper.
 
Moot said:
He's one kid out of hundreds of thousands of ghetto kids who dream of becoming either a sports star or a wrapper but never will. For most, that dream is about all they have.
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There are ~120 Division 1 schools in football and almost twice that in Basketball. If each one give a scholarship to an kid that would otherwise never make it into school (not a stretch by anyone's imagination), you have 300 kids a year that get an education that they never would have had. One out of those will turn out to be a superstar pro that makes an 8 figure salary. But the other 299 are still better off had they not gone in the first place. Is 300 out of 300,000 a drop in the bucket... of course... but that is just a conservative number. It could be MUCH higher.
 
Moot said:
Well, that does beg the question, why are there more foreign students in the engineering departments than US students?
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Now that is a question for another debate. But I agree..... THAT is the underlining problem with the American public school system.
 
Moot said:
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
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Winning football teams bring in more money than they cost.
 
Moot said:
"...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.
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If you go to page 9 of the actual report:

http://www.air.org/files/DeltaCostAIR_AthleticAcademic_Spending_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.
 
Rocketman said:
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.
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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? :)


Tim-
 
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.
 
Rocketman said:
student loans are welfare
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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.
 
Gipper said:
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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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.........................................
 
Gipper said:
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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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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