College Grads Buried in Student Loan Debt, but Unwilling to Give Up Luxuries

Yes, even though that term should really have been reserved for people born after the turn of the millennium and not before it. We used to be Generation Y but somebody decided we needed a name change. Probably some hipster marketing guru.

 

It absolutely is complicated when the contract is sold with the notion that the end product (degree) results in a job. If I sign a contract and am under the understanding that I receive something which guarantees me something else, then don't get what I was guaranteed, the contract is faulty.

These schools lied. The government lied. The businesses lied. And you want to blame the student, who again, is not taught contract law, is not taught proper market employability and saturation basics, is not taught how to market themselves, who is also not shown the true viability of trade schools, etc...

You're excusing the liars. Why?!

 

Gen X here... 2nd to last recognized year, though. Not sure why generation Y was changed to Millenials. Millenials should be 2004-2024.

 

Who guaranteed a job?

 

Are you daft? Again. I asked the question first.

Why. Excuse. Liars.

Answer it honestly instead of being contrarian for no reason at all. I've posted example of a real lawsuit brought against schools for deceiving their students about their career prospects. All you've brought is nonanswers and nonarguments.

Buck up. If not, I accept your concession.

 

I notice how you conveniently omitted the state university systems as well as local state univ comm colleges where you can get your first 60 credits for a fraction of the cost of 4 year schools and they all transfer over to state univs.


I can speak of Florida

state universities are about $6,000 per year for 30 credits for tuition/fees. How you get your textbooks are up to you as is where you live and if a state univ is nearby, then what's wrong with that school?

The more widely available 2 year schools are 1/2 that cost for the EXACT SAME course numbers as in the 4-year schools

So, you can take your pre-reqs and get the forst 60 credits for about $6,000 plus books and still live at home and work at night.

What young adult with a part time job serving tables pulling down $200 per night can't afford $250 per month for their education?

Most parents who never saved a lick could swing $250 per month

It's easy to knee-jerk about how expensive it is to go away for school at the higher priced colleges but there are ways to get a very good and affordable education.

 

No college can totally guarantee a well paying job. From the Univeristy of Phoenix to Ivy league schools.

http://www.nationalreview.com/phi-beta-cons/276106/ivy-league-graduates-food-stamps-nathan-harden
https://theivylie.com/tag/unemployed/

Just because a stupid kid spent $xxx,xxx or or $XX on his "valuable" education , doesn't mean it's actually "valuable". Basically business hire people... not the well paying liberal arts professor who spout out liberal crud...



Seriously, "college education" is a bubble that needs to be burst... It's just a bastion of liberal thought and is starting to be of no real use in the world especially a liberal arts education.

 

Great post.

I'd like to add a couple of things. First, how many of these kids actually wanted to go to college in the first place? I remember when I went, it wasn't that I wanted to go, it was that it seemed like the next step because everyone else was doing it and my parents wanted it. What I learned in college hasn't helped me one bit in my work life.

The second thing is this; once a kid graduates, where are the jobs? Sanders wants everyone to go to college for free, but then what? What jobs are out there? The person who just graduated and gets a job s/he's under qualified for with low pay will now be financing the next group of college kids who will be competing with him for the same job. Oh, and that graduate with the lousy job and low pay will also be subsidizing that college kid's health insurance.

To a degree I understand that when the only life a person ever knew came with a cell phone, cable TV, possibly a car, etc. then it's hard to change. But dang it, the reality of life says money owed is money that needs to be repaid.

Parents need to measure their kids while they're still in high school and determine if college is the best choice or possibly some sort of trade school. Knowing what I know now, I would never go to college unless I wanted to be an officer in the military or if there was a possibility that my grades would be so good and I could graduate so high that I had a better than average chance at getting a really good job.

 

in my days, one went to a state college/university if others schools cost too much. dont know if state schools are outragiously priced or not

 

A lawsuit is proof of nothing as its an accusation at this point and nothing else.

 

I am still paying back loans for my wife's masters degree. We are both teachers... so "rich" is never a term that is used to describe us. I will probably pay on it for the rest of our lives.... but I will budget 100$ a month forever in order to have the benefits of being marketable and economically valuable in the job market.

However, we live very comfortably, enjoy many things, own a house, 3 cars, have a pool in the backyard.

We didn't get these things over night though... we worked our butts off for every luxury we have while 25 yo graduates want to come out and have everything that I have worked 15 years to obtain.

Sorry snowflake.. you aren't entitled to what I have at 25 and no experience with your BA degree in homosexual american history while working at Starbucks.

and you don't have to be "rich" to go to college. You do have to have the basic ability to manage your money, however


you guys act like 100k in student loans works out to 1000 a month for 20 years in loan repayment. Repayment is based on what you make.

my wife and I pay 200$ a month for 20 years. That doesn't cripple us

 

More non answers and non arguments. Concession accepted. The point stands.

 

I had zero money for college saved... I payed every cent of community college to avoid loans. There are things I would have done differently about the process if I could go back.... but to your point, you are absolutely correct, anyone can pay for college.


if I had to do it all over again, I didn't even apply for loans back then, because I didn't plan on using them. What I didn't realize, are pell grants (the "free money") was also tied into the loan application. I should have applied, and then only accepted the pell grants, and none of the loans.

but, noone in my family had done college prior to me, so we all had to figure things out the hard way because I was the initial run at it. I probably lost out on about 10k over my community college career just by not knowing the ins and outs of the system

 

Handing out 50K to an 18-year-old is predatory lending, as far as I'm concerned. A good portion of 18-year-olds have not developed the self-discipline yet to be trusted to make wise use of a "free" 50K loan.

 

Its funny how many of these morons live with their parents and can't even support themselves but magically they have smartphones that cost over $500 each and monthly cell and data service of about $100 a month. Don't know what they learned in college but it can't have been very much if they are satisfied living like that.

 

I quit college twice because of the cost. Made it through the 3rd time, but even with my employer paying 1/2 my tuition it took a few years to pay off my student loans. it wasn't that hard. I only had to pay a minimum of $20/mth, but usually paid more. I finally bit the bullet & used my 2nd or 3rd tax refund to pay it off. Of course, I was WORKING my ass off!!!!

 

Nothing but wild claims but with nothing but fake cries of winning.... Come on man debate something.

 

too many factors in that for me to agree to it. Like I said, sometimes people get screwed over and it hurts their credit.

 

Ugh im not saying that one should get what you have at 25, that is not my problem. Nor did I say only the rich can afford it, anyone could afford it if they budget correctly. My point is $40k a year for school is beyond ridiculous period.

 

Not all of them are that cheap. You are right that this can be had for a fraction of the cost though depending on which school and what you wish to study.

 

why not? depends on the school of course... but room, meals, classes, books. I agree books are stupidly priced.... but my dorm was market value. Food was market value.

But I went to a state u. I didn't go Ivy League, or Stanford. I don't know what they charge, but supply/demand says, they are elite schools so they can afford to price out the rif-raf. Don't go to stanford... go to Cal State?

 

says nothing about "luxuries".

clothes and food is a luxury?

LOL!!!!!!! only the dirt poor would make such a claim

 

But what about the kids that are not riff raff and simply couldn't get a scholarship? Or for that matter people that got accepted to go to Stanford but still can't afford it? And yes OMG I can not believe how much schools dare charge for rooms, you can get a 2 bedroom apartment for the same price or a tad extra and then split it with another student and save over $8k per year lol. Last time i looked when I was 18 and UC-Irvine was $13k per student to live in a dorm no matter if it was single or double room and that doesn't even cover the meal plan, thats just the room lol. Yeah we couldnt afford that lol.

I almost went to Fullerton which was a good school and only cost $5k a year and try to walk on the baseball team, but I took a job lol. I wish I could go back and went with college instead. Now Im just stuck in Memphis rotting lol.

 

Not really. Some of these kids have a taste for champagne when they only have money for beer if you know what I mean.

 

off-campus, student housing is no bargain. For a student to have a bedroom and shared kitchen/living room with 3 other students was $695 per month !

With 2 at the same school it was cheaper to buy another house which is what we did.

As for textbooks, now that is a scam.

We're fortunate that we could afford the schools but they were still state universities and the first 60 credits were local CC's for the same exact course at a fraction of the cost. Our conversations: please tell me again why your mother and I should pay $15,000 per year for the same exact courses you can get here for $3,000-$5,000? Oh wait, that's right, you want to be away from us and party..............We don't see the $12,000 value in that

More parents need to take that stand with their kids