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

#151
#151
Rasputin_Vol said:
Most of these student loans were targeted to people that were 18-21 years old. I have a bit more remorse or understanding for young adults making poor decisions than I would someone in their 30s and 40s that racked up debt trying to keep up with the Joneses.

I know it sucks, but this eneration of ids were lied to by most of the people they depended on and convince to rack up this student debt to have a better chance in life.
Click to expand...
Some of these “kids” leave school with significant 6 figures in debt. I saw some girl campaigning for Bernie because she was $221K in debt for a degree in speech pathology.

I’m not ok with completely “forgiving” blatant irresponsibility like that.

They need to pay back some of the debt.
 
  • Like
Reactions: mr.checkerboards
#152
#152
Purple Tiger said:
Have you ever seen salary scales or done research on salaries for your company? I have. I know what a college degree is worth in the job market.

Not everyone incurs debt in college. There is a thing called a scholarship.
Click to expand...
What percentage of people get a full ride scholarship or have parents that can pay for college outright?

I’d guess less than 20%.

As of 2 years ago UT Knoxville was ~$14K per year in tuition. Add living expenses and you’re around $25K per year. I don’t know too many folks who have that kind of money laying around - especially for families with multiple kids in college at the same time.
 
  • Like
Reactions: NorthDallas40 and Wireless1
#153
#153
Rasputin_Vol said:
Most of these student loans were targeted to people that were 18-21 years old. I have a bit more remorse or understanding for young adults making poor decisions than I would someone in their 30s and 40s that racked up debt trying to keep up with the Joneses.

I know it sucks, but this eneration of ids were lied to by most of the people they depended on and convince to rack up this student debt to have a better chance in life.
Click to expand...

Heck no. Old enough to serve, vote and protest in the streets, then old enough to take responsibility for their decisions. Not society's fault they lack maturity to make a decision. Been coddled long enough and better wake up to the fact they "may" of been lied to.
 
  • Like
Reactions: mr.checkerboards
#154
#154
FLVOL_79 said:
I dont know what jobs he is mentioning that show most high school grads only make minimum wage. I can't even think of a minimum wage job nowadays. Local fast food joints pay $12+ an hour.
Click to expand...
Chick-Fil-A is paying $16/hour in Mount Juliet
 
#155
#155
Let's not overlook the primary perp in all this student loan mess...the FOR PROFIT universities. In my day, we had the tech schools and community colleges. And most of them at the time taught trades, or offered AA's in some type of office administration, or a kick start to nursing or medical trades. These for profit universities started popping up around the GSL program, and preyed on the ones that got brainwashed into these degrees. I hold an MBA from Tennessee Tech. I had one potential employer in an interview ask me if that was a brick and mortar school. What I really wanted to answer is that I did my basic research on your company to prepare for the interview and you don't even know what type of school I went to. I am proud for the work I put into studies, and my son is very bright. Lazy in class, but very bright. I would be just as proud of him if his interests only required a tech school and it would provide what he needed to be successful. At 17, he's already self-teaching graphic design, these active click type animated and articulated icon overlays for gaming, and plans on selling them when he feels he's got good enough. People pay for that. They send you a pic, and you bring it to life. And he's a two sport athlete, and although on the reserved side, has social skills. At times, he's had interest in an engineering field, or cyber security, business investments also. Not sure what he will decide, but Tennessee promise makes the first two years of JUCO/CC free, so he has been told he will start there and not waste money paying for the exact same classes full price. Most don't know what they want the first two years and waste alot of money deciding on a major.
 
Last edited:
  • Like
Reactions: Wireless1 and mr.checkerboards
#156
#156
I think we need to pull back some on the emphasis of college. There are plenty of things someone can do that they don't need to waste their time going to school and getting a degree for. Imo college curriculums should be rewritten and go to being 2 or 3 years. Get rid of the core classes and let everyone go straight into some sort of major. A lot of the core class stuff could be and should be taught in high school. Also I think college kids should be required to take personal finance. As far as student loans being repaied absolutely not. At 18 even if you didn't know what to do you still should be old enough to know how many works and be able to understand how much dent they are racking up. If you don't want to graduate in debt then get a job work through school.
 
#157
#157
GVF said:
Let's not overlook the primary perp in all this student loan mess...the FOR PROFIT universities. In my day, we had the tech schools and community colleges. And most of them at the time taught trades, or offered AA's in some type of office administration, or a kick start to nursing or medical trades. These for profit universities started popping up around the GSL program, and preyed on the ones that got brainwashed into these degrees. I hold an MBA from Tennessee Tech. I had one potential employer in an interview ask me if that was a brick and mortar school. What I really wanted to answer is that I did my basic research on your company to prepare for the interview and you don't even know what type of school I went to. I am proud for the work I put into studies, and my son is very bright. Lazy in class, but very bright. I would be just as proud of him if his interests only re
Click to expand...
Federal Government is just as responsible IMO.

Taking over student loans only speeded things up exponentially - since all debt is guaranteed - the universities saw their opportunity and it’s ruined the value of a college degree.
 
  • Like
Reactions: Wireless1
#158
#158
I'll propose this:

If we will forgive student loans,

Then,

Everyone who has paid into Social Security will be allowed to take a one time lump sum to be quantified and determined by monies in and a return rate for so many years, tax free, and then can opt out of Social Security all together and take their money and be done with this scheme.

Fair?

If we're gonna just float numbers into columns, why not.....
 
  • Like
Reactions: NorthDallas40
#159
#159
GVF said:
Let's not overlook the primary perp in all this student loan mess...the FOR PROFIT universities. In my day, we had the tech schools and community colleges. And most of them at the time taught trades, or offered AA's in some type of office administration, or a kick start to nursing or medical trades. These for profit universities started popping up around the GSL program, and preyed on the ones that got brainwashed into these degrees. I hold an MBA from Tennessee Tech. I had one potential employer in an interview ask me if that was a brick and mortar school. What I really wanted to answer is that I did my basic research on your company to prepare for the interview and you don't even know what type of school I went to. I am proud for the work I put into studies, and my son is very bright. Lazy in class, but very bright. I would be just as proud of him if his interests only re
Click to expand...

LOL You need to look again.
 
#160
#160
GVF said:
Let's not overlook the primary perp in all this student loan mess...the FOR PROFIT universities. In my day, we had the tech schools and community colleges. And most of them at the time taught trades, or offered AA's in some type of office administration, or a kick start to nursing or medical trades. These for profit universities started popping up around the GSL program, and preyed on the ones that got brainwashed into these degrees. I hold an MBA from Tennessee Tech. I had one potential employer in an interview ask me if that was a brick and mortar school. What I really wanted to answer is that I did my basic research on your company to prepare for the interview and you don't even know what type of school I went to. I am proud for the work I put into studies, and my son is very bright. Lazy in class, but very bright. I would be just as proud of him if his interests only required a tech school and it would provide what he needed to be successful. At 17, he's already self-teaching graphic design, these active click type animated and articulated icon overlays for gaming, and plans on selling them when he feels he's got good enough. People pay for that. They send you a pic, and you bring it to life. And he's a two sport athlete, and although on the reserved side, has social skills. At times, he's had interest in an engineering field, or cyber security, business investments also. Not sure what he will decide, but Tennessee promise makes the first two years of JUCO/CC free, so he has been told he will start there and not waste money paying for the exact same classes full price. Most don't know what they want the first two years and waste alot of money deciding on a major.
Click to expand...
Watch Tennessee Promise, the schools will find another revenue stream from you after about 2 years. They did it with the Lottery, within 3 years my out of pocket was higher with the Lottery than it was before, and that was with the scam qualifications that bait and switched students into school.
 
#161
#161
tennvols77 said:
I'll propose this:

If we will forgive student loans,

Then,

Everyone who has paid into Social Security will be allowed to take a one time lump sum to be quantified and determined by monies in and a return rate for so many years, tax free, and then can opt out of Social Security all together and take their money and be done with this scheme.

Fair?

If we're gonna just float numbers into columns, why not.....
Click to expand...
I wanted to like this but the lack of blue font scares me because there are people on here that would want to have the government offer this not understanding the real future cost.
 
  • Like
Reactions: tennvols77
#162
#162
Purple Tiger said:
I never said anything about liberal arts majors. Why are you so butt hurt about people getting college degrees? It's likely because you'd rather bitch about "useless" degrees because it fits into your narrow and ugly little viewpoint of society.

By the way, graduate degree salaries average $78,000 in the US.
Click to expand...
Sure you did. When you brought up that $59k median salary for grads where do you think the useless liberal arts degrees resides on that scale? And yeah I’m 100% against idiot kids taking on $75K+ in debt for a degree that MIGHT land them a job paying $40k. But if they do it then they are on the hook for the loans not me!
Purple Tiger said:
Have you ever seen salary scales or done research on salaries for your company? I have. I know what a college degree is worth in the job market.

Not everyone incurs debt in college. There is a thing called a scholarship.
Click to expand...
Yep I sure have done research on what a college degree is worth. But since my salary research is focused in engineering areas I’d guess my data is skewed quite a bit higher than yours 😂
 
#164
#164
NorthDallas40 said:
Sure you did. When you brought up that $59k median salary for grads where do you think the useless liberal arts degrees resides on that scale? And yeah I’m 100% against idiot kids taking on $75K+ in debt for a degree that MIGHT land them a job paying $40k. But if they do it then they are on the hook for the loans not me!

Yep I sure have done research on what a college degree is worth. But since my salary research is focused in engineering areas I’d guess my data is skewed quite a bit higher than yours 😂
Click to expand...
Not at all. I did salary research on electrical and RF engineers. Plus, I did VP and C-level salary research, too.
 
#167
#167
NorthDallas40 said:
And it’s also skewed way up by those $80-90K Masters in engineering fields. Those Masters in philosophy are still down in the $30’s I’d guess. Go to welding or HVAC school instead FFS
Click to expand...
Masters of Accountancy, Hospital Administration, Business and nursing are right there, too.
 
#171
#171
NorthDallas40 said:
None of those fields start as high as engineering. But they do indeed help raise the median from the English Lit and Philosophy degrees.
Click to expand...

Philosophy majors actually do fairly well. I want to say I saw recently where their mid-career salaries are around $70k-$80k. Most first year engineers will likely make more but lots of people would be happy to make anywhere near that.
 
#172
#172
Wafflestomper said:
Philosophy majors actually do fairly well. I want to say I saw recently where their mid-career salaries are around $70k-$80k. Most first year engineers will likely make more but lots of people would be happy to make anywhere near that.
Click to expand...
In what field of practice is a Philosophy major making $70-80k? Ph D and teaching at a college?
 
  • Like
Reactions: Wireless1
#175
#175
Wafflestomper said:
I think very few of them actually go on to teach. Lots become lawyers. There are places for philosophy majors in business and engineering as well.
Click to expand...
I do not want to ride in an elevator that a philosophy major had anything to do with!
 
New posts
You must log in or register to reply here.

VN Store



Back
Top