The next big bubble... student loans???

#101
#101
Rasputin_Vol said:
Yes I believe that. I was almost one of those kids. No one in my family had ever gone to college and there was no one in my circle informing me about the dangers of just getting a random degree. There are plenty of kids out here that are getting bad advice coming out of high school. But that shouldn't be a surprise to an of you. Lok at how the kids are behaving right now.
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Lots of people in education tout the myth that a college degree will make your life immeasurably better. Thousands and thousands of psychology and communications majors have found out otherwise.
 
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#104
#104
VolStrom said:
What about those of us that saved and paid for our kids education without student loans? Are we just out of luck?
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I understand where you are coming from, but look at it from this angle. It would be roughly $1 trillion coming off of the printing presses and Xerox machine to wipe away this debt. Just in the last 4 months, we've probably squandered away that much to companies that spent all of their extra cash on stock buybacks instead of putting the money into their company or saving it for a rainy day fund. So ask yourself, is it fair that these corporations that didn't plan for a rainy day get to line up for govt help, yet you and your household are required to do so? How fair is that.

Now compare the amount of govt welfare we have given (and will give in the next few months) to these corporations vs how much we are talking about for student loans. Plus keep in mind that these corporations had people in their 40s and above collaboratively working together to engage in this business practice, while the majority of these 18-21 year olds were working with older people advising them that probably don't have the same level of economic or fiscal experience that you would expect from a Fortune 500 company executive.
 
#106
#106
FLVOL_79 said:
Lots of people in education tout the myth that a college degree will make your life immeasurably better. Thousands and thousands of psychology and communications majors have found out otherwise.
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Yep, but they don't find out until after the debt has been accumulated and they've already entered the job market.
 
#107
#107
FLVOL_79 said:
Lots of people in education tout the myth that a college degree will make your life immeasurably better. Thousands and thousands of psychology and communications majors have found out otherwise.
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At this point in time a trade school isn’t a bad idea at all. My customers constantly tell me they can’t find any machinists worth a damn. A young man with some initiative and a mentor could end up with his own tool and die company and make a killing
 
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#108
#108
VolStrom said:
What about those of us that saved and paid for our kids education without student loans? Are we just out of luck?
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I guess I can't seem to wrap my mind around people being more upset at 18-21 year olds making a poor decision vs a bunch of middle aged Wall St and political types making equally poor, if not worse, decisions.
 
#109
#109
Carl Pickens said:
At this point in time a trade school isn’t a bad idea at all. My customers constantly tell me they can’t find any machinists worth a damn. A young man with some initiative and a mentor could end up with his own tool and die company and make a killing
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I would love to get back into tool and die as a side hustle. I haven't touched a lathe or mill in 15 years, though.
 
#111
#111
Rasputin_Vol said:
I understand where you are coming from, but look at it from this angle. It would be roughly $1 trillion coming off of the printing presses and Xerox machine to wipe away this debt. Just in the last 4 months, we've probably squandered away that much to companies that spent all of their extra cash on stock buybacks instead of putting the money into their company or saving it for a rainy day fund. So ask yourself, is it fair that these corporations that didn't plan for a rainy day get to line up for govt help, yet you and your household are required to do so? How fair is that.

Now compare the amount of govt welfare we have given (and will give in the next few months) to these corporations vs how much we are talking about for student loans. Plus keep in mind that these corporations had people in their 40s and above collaboratively working together to engage in this business practice, while the majority of these 18-21 year olds were working with older people advising them that probably don't have the same level of economic or fiscal experience that you would expect from a Fortune 500 company executive.
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I don't care about the printing presses that are slinging out money, I care about the sacrifices that I made to make sure my kids went to college without any loan debt. So you're saying tough sh1t that the people that didn't save should deserve money from the government because they were stupid and I prepared for my kids education and it's too bad?
 
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#113
#113
VolStrom said:
I don't care about the printing presses that are slinging out money, I care about the sacrifices that I made to make sure my kids went to college without any loan debt. So you're saying tough sh1t that the people that didn't save should deserve money from the government because they were stupid and I prepared for my kids education and it's too bad?
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You shouldn't be any more mad at the 18-21 year olds that are getting a bailout than you should be at these corporations that are getting bailouts that were run by 40+ year old managers and enabled by 40+ year old politicians.

That is what I'm saying. Yes, it is essentially tough titty. If it makes you feel any better, I didn't get a $1200 stimulus check and I will probably live to see the day when we also get some sort of mortgage forgiveness even though I'm nearly able to pay off my home.
 
#114
#114
Rasputin_Vol said:
You shouldn't be any more mad at the 18-21 year olds that are getting a bailout than you should be at these corporations that are getting bailouts that were run by 40+ year old managers and enabled by 40+ year old politicians.

That is what I'm saying. Yes, it is essentially tough titty. If it makes you feel any better, I didn't get a $1200 stimulus check and I will probably live to see the day when we also get some sort of mortgage forgiveness even though I'm nearly able to pay off my home.
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There is a huge difference in getting a $1200 stimulus check versus getting $100k dismissed in student loan debt because you're ignorant about a degree.
Just to follow up, I'm pretty sure Ras that you haven't paid for a couple of 4 year degrees yet, or maybe you never will. Make another house payment and you'll understand what it's like.
 
#115
#115
FLVOL_79 said:
Lots of people in education tout the myth that a college degree will make your life immeasurably better. Thousands and thousands of psychology and communications majors have found out otherwise.
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High school graduates earn about half of college graduate average wages. Specifically, a high school graduate earns a median wage of $32,256. However, a college graduate earns nearly double that, making $59,124 a year.

The Average Salary by Education Level - SmartAsset
 
#116
#116
Purple Tiger said:
High school graduates earn about half of college graduate average wages. Specifically, a high school graduate earns a median wage of $32,256. However, a college graduate earns nearly double that, making $59,124 a year.

The Average Salary by Education Level - SmartAsset
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Thats offset by us science, medical, and business types. The majority of college degrees aren't worth anything...especially the two I mentioned. "Football player degrees"..
 
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#117
#117
Rasputin_Vol said:
Yep, but they don't find out until after the debt has been accumulated and they've already entered the job market.
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When I went to UT in 1997 I looked at the average salary of the field in which I was trying to get a degree in. My degree cost less than the average salary. I believe I used some college magazine, cant remember the name. It actually had descriptions of all available degrees and the average salaries those degree holders had.
 
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#118
#118
Carl Pickens said:
At this point in time a trade school isn’t a bad idea at all. My customers constantly tell me they can’t find any machinists worth a damn. A young man with some initiative and a mentor could end up with his own tool and die company and make a killing
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I paid a plumber $300 for 1.5 hour of work to replace an outdoor spigot.
 
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#119
#119
Purple Tiger said:
High school graduates earn about half of college graduate average wages. Specifically, a high school graduate earns a median wage of $32,256. However, a college graduate earns nearly double that, making $59,124 a year.

The Average Salary by Education Level - SmartAsset
Click to expand...
Now compare a high school diploma or GED with a journeymen level trades skill like welding or electrician to an English Lit degree.

Hey this is fun!
 
#121
#121
FLVOL_79 said:
Thats offset by us science, medical, and business types. The majority of college degrees aren't worth anything...especially the two I mentioned. "Football player degrees"..
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And the high school grad salaries are padded by skilled labor.
 
#122
#122
Purple Tiger said:
It's averaged out, which means all non-skilled labor is making near minimum wage.
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Those low earning college degrees are “averaged out” too. But for a journeyman electrician license which takes around four years of master electrician supervision before you can sit for the test you actually are earning money and have a job and you’re not racking up tons of debt on a useless degree.

Many college degree programs are simply useless and completely fail miserably when compared to a similar tradeskill training program in which you have a job during your training and aren’t incurring college debt.
 
#125
#125
FLVOL_79 said:
lol what?
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He can’t accept that the ancient Central American stone pottery studies with a minor in Latin that he incurred $75k in debt for at that great Liberal Arts college simply fails miserably when compared to a journeyman tradeskill apprenticeship requiring no debt when evaluating earnings potential.

News flash: anybody spending the effort acquiring skills valuable by employers be it via college or trades schools generally make more money than those who don’t. Film at ... oh hell there’s no need for damn film and if they can’t absorb the simple stated fact they are clueless. 😂
 
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