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(CNN)   CNN: "There is no student loan debt crisis." Next up: What's this stupid theory about the sky being blue everyone keeps going on about?   (money.cnn.com) divider line 377
    More: Asinine, CNN, debt crisis, for-profit colleges, student debt, student loans, University School, mortgage crisis, Mark Kantrowitz  
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8391 clicks; posted to Main » on 31 Mar 2012 at 10:04 PM (2 years ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2012-03-31 10:29:15 PM

odinsposse: The fact is that tuition has been rising dramatically, wages have stagnated, and a lot more people have college degrees. That means a degree doesn't leverage as high a salary as it used to, is considered almost mandatory for a lot of positions since everyone has one, but requires taking on far more debt to get. None of that has to do with how marketable your eventual degree is.


So, the bachelor's degree is like the high school diploma, except now you have to spend at least $20,000 to get it?
 
2012-03-31 10:29:56 PM

The_Gallant_Gallstone: BigLuca: Between my wife and I, we will have almost 1/2 a million in student loans once I get out of school. So, getting a kick, etc...

I recommend you embrace either militant, revolutionary socialism or a quick method of suicide.


Actually I met this guy on an airplane and we decided to start an underground mma organization in the basement of a bar. So I think I'll be alright.
 
2012-03-31 10:30:45 PM

LouDobbsAwaaaay: Things are going to get really interesting when expatriating will solve your student loan problems and allow you to move someplace where there are actually jobs to get, and national healthcare on top of it.


Except that China has far fewer freedoms and treats workers with less respect.


odinsposse: Because there's no real way to do that. You can guess what your job market will be like by the time you graduate but those things can change quickly. I know a number of IT people who can't find work because all of the entry level stuff is taken by outsourcing and guys with fifteen years of experience are taking most any job they can get. It's pretty unrealistic to expect seventeen year olds to be able to predict the world market before they decide on a college path.

The fact is that tuition has been rising dramatically, wages have stagnated, and a lot more people have college degrees. That means a degree doesn't leverage as high a salary as it used to, is considered almost mandatory for a lot of positions since everyone has one, but requires taking on far more debt to get. None of that has to do with how marketable your eventual degree is.


How about restoring the no-recourse default instead of binding people to a lifetime of debt? In addition, kill offshoring and establish a Right to Direct Work law. Take away all the things employers are misusing to the general detriment of the US, and things can get better.
 
2012-03-31 10:30:46 PM

rebelyell2006: One of my potentially future employers told me that bosses in my particular field find unpaid internships and volunteer positions to be far more valuable on a resume than burger flipping. Having applicable experience is far better than paying off my grad school loans a couple months earlier (and will potentially yield a better paycheck as well).


You still trust authority.... that is your only flaw as far as I can tell.

treecologist: What, are all the smart people at the Las Vegas Fark Party?

There is a lot of stupid in this thread already.


Yep... you didn't get invited because of your insufferable self-righteousness.
 
2012-03-31 10:30:59 PM

The_Gallant_Gallstone: Blaming the victims of fraud for their "stupidity" is a classical indication of a psychopath.


Where is he blaming anyone, to me it looks like he's merely stating a fact.
 
2012-03-31 10:31:08 PM
Meanwhile, in Quebec...

www.qpirgconcordia.org

fbcdn-sphotos-a.akamaihd.net
 
2012-03-31 10:32:34 PM

Deranged Mutant Killer Monster Snow Goon: Meanwhile, in Quebec...


Does that say "Countdown 2 debut of ass?"
 
2012-03-31 10:32:51 PM

sethstorm: Except that China has far fewer freedoms and treats workers with less respect.


The poster I was responding to might have been talking about China, but I wasn't limiting my remark to that country. There are a lot of places you can go to escape student loan debt, and if they offer a real economy AND healthcare ... what reason remains for the educated to stay in the US at that point?
 
2012-03-31 10:32:57 PM

Dow Jones and the Temple of Doom: fark you, I got mine! (a $70k loan for a social science degree, that is. Seriously, fark you, lenders. Thanks for the money, but if you think I'm paying you back, go fark yourself. Actually... Give me a VP position with nothing other than a bachelors and a beard, and ill think about it.)



Seriously? You borrowed that much for a social science degree? Can I ask what degree, and what year you graduated?
 
2012-03-31 10:33:04 PM

LouDobbsAwaaaay:

Things are going to get really interesting when expatriating will solve your student loan problems and allow you to move someplace where there are actually jobs to get, and national healthcare on top of it.


Smart people already figured that out.
 
2012-03-31 10:33:33 PM

LouDobbsAwaaaay: The poster I was responding to might have been talking about China, but I wasn't limiting my remark to that country. There are a lot of places you can go to escape student loan debt, and if they offer a real economy AND healthcare ... what reason remains for the educated to stay in the US at that point?


I've seen Hostel... I'm not going to Europe.
 
2012-03-31 10:33:34 PM

The_Gallant_Gallstone: rebelyell2006: One of my potentially future employers told me that bosses in my particular field find unpaid internships and volunteer positions to be far more valuable on a resume than burger flipping. Having applicable experience is far better than paying off my grad school loans a couple months earlier (and will potentially yield a better paycheck as well).

You still trust authority.... that is your only flaw as far as I can tell.

treecologist: What, are all the smart people at the Las Vegas Fark Party?

There is a lot of stupid in this thread already.

Yep... you didn't get invited because of your insufferable self-righteousness.


I was invited. I didn't go because I am doing something better right now.

You weren't invited because you're stupid...and your student loans don't allow you to quit that killer nightwatchman job you have.
 
2012-03-31 10:33:45 PM

rebelyell2006: One of my potentially future employers told me that bosses in my particular field find unpaid internships and volunteer positions to be far more valuable on a resume than burger flipping. Having applicable experience is far better than paying off my grad school loans a couple months earlier (and will potentially yield a better paycheck as well).


Nowadays you pretty much need experience to get hired so they're basically right. If all you have is burger flipping on your resume then you're going to have a damn hard time finding a job in your field.
 
2012-03-31 10:33:56 PM

rebelyell2006: One of my potentially future employers told me that bosses in my particular field find unpaid internships and volunteer positions to be far more valuable on a resume than burger flipping. Having applicable experience is far better than paying off my grad school loans a couple months earlier (and will potentially yield a better paycheck as well).


That's a reason why not to have unpaid internships.
 
2012-03-31 10:34:03 PM

LouDobbsAwaaaay: sethstorm: Except that China has far fewer freedoms and treats workers with less respect.

The poster I was responding to might have been talking about China, but I wasn't limiting my remark to that country. There are a lot of places you can go to escape student loan debt, and if they offer a real economy AND healthcare ... what reason remains for the educated to stay in the US at that point?


So... Go? Or biatch about it on the internet, either way.
 
2012-03-31 10:34:07 PM

The_Gallant_Gallstone: Clarence Beeks: The only person assuming risk is the dumbass 18-25 year old kid who had been told - by people in authority, no less - that it's a good idea to assume a debt that is the equivalent of a farking mortgage when there is precisely ZERO guarantee that they will land a job that pays enough to service those loans and enable them to save enough to provide for other things in the future (house, cars, etc.).

Blaming the victims of fraud for their "stupidity" is a classical indication of a psychopath.


Lack of reading comprehension skills is a classical indication of an idiot.
 
2012-03-31 10:35:20 PM

LouDobbsAwaaaay: The poster I was responding to might have been talking about China, but I wasn't limiting my remark to that country. There are a lot of places you can go to escape student loan debt, and if they offer a real economy AND healthcare ... what reason remains for the educated to stay in the US at that point?


To use their smarts to fix the US instead of letting it die.
 
2012-03-31 10:35:44 PM

sethstorm: LouDobbsAwaaaay: Things are going to get really interesting when expatriating will solve your student loan problems and allow you to move someplace where there are actually jobs to get, and national healthcare on top of it.

Except that China has far fewer freedoms and treats workers with less respect.
.


Where in China did you live and work? I'm near Tianjin.
 
2012-03-31 10:35:48 PM

Dow Jones and the Temple of Doom: So... Go? Or biatch about it on the internet, either way.


Nobody was talking to you.
 
2012-03-31 10:36:01 PM

MNguy:
Smart people already figured that out.

It seems practical, but I'd prefer 250,000 people stopping their payments all at once.

treecologist: I was invited. I didn't go because I am doing something better right now.


I'm sure organizing your toe nail clipping collection by "skin to nail" ratio will make the world a better place.

Carry on!
 
2012-03-31 10:36:22 PM

Zavulon: Here's a thought. If you want a degree in the humanities or something else that won't get you a real career, go to a state college instead of an expensive private school. That way you'll come out with less than one tenth of the student load debt, and you can easily pay it off with the minimum wage jobs that are all you're qualified for.


Did you know there are 5-7 mechanical and grammatical errors in your post, depending on how picky we want to be?
 
2012-03-31 10:36:28 PM
Here's an idea..do better in high school to get scholarships, finish early, don't pick an expensive college, have a long-term plan for paying off the loan...etc

Rich husbands/wives and the lottery are not valid alternatives.
 
2012-03-31 10:36:38 PM

The_Gallant_Gallstone: odinsposse: The fact is that tuition has been rising dramatically, wages have stagnated, and a lot more people have college degrees. That means a degree doesn't leverage as high a salary as it used to, is considered almost mandatory for a lot of positions since everyone has one, but requires taking on far more debt to get. None of that has to do with how marketable your eventual degree is.

So, the bachelor's degree is like the high school diploma, except now you have to spend at least $20,000 to get it?


It's getting to that point. I spent some time unemployed and worked with friends through their unemployment and you will see $10/hr receptionist job ads that ask for a college degree.
 
2012-03-31 10:36:47 PM
So, the government handing out basically zero responsibility and zero accountability loans on both the front and back end is gonna end badly?

www.demotivationalposters.org
 
2012-03-31 10:36:50 PM

BigLuca: Between my wife and I, we will have almost 1/2 a million in student loans once I get out of school. So, getting a kick, etc...


I have almost a quarter-million all by my self. It's a great incentive to get out there an look for work.
 
2012-03-31 10:37:33 PM

Rakishi: rebelyell2006: One of my potentially future employers told me that bosses in my particular field find unpaid internships and volunteer positions to be far more valuable on a resume than burger flipping. Having applicable experience is far better than paying off my grad school loans a couple months earlier (and will potentially yield a better paycheck as well).

Nowadays you pretty much need experience to get hired so they're basically right. If all you have is burger flipping on your resume then you're going to have a damn hard time finding a job in your field.


wanna know how you 'get experience' as a computer security expert? think about it for a moment....

either you end up with a good job or a criminal record. And if you're REALLY good, you end up with both.
 
2012-03-31 10:37:37 PM

LouDobbsAwaaaay: sethstorm: Except that China has far fewer freedoms and treats workers with less respect.

The poster I was responding to might have been talking about China, but I wasn't limiting my remark to that country. There are a lot of places you can go to escape student loan debt, and if they offer a real economy AND healthcare ... what reason remains for the educated to stay in the US at that point?


A lack of language skills? I fried my brains taking Russian as an undergrad and I don't think I should attempt to try another foreign language for the time being, particularly something as complex as Mandarin.
 
2012-03-31 10:37:46 PM

Rakishi: Nowadays you pretty much need experience to get hired so they're basically right. If all you have is burger flipping on your resume then you're going to have a damn hard time finding a job in your field.


Do a quick internship or just lie if you can't get one.

Clarence Beeks: Lack of reading comprehension skills is a classical indication of an idiot.


Misintepretation is more often the fault of the writer than the reader. It just means you cannot communicate effectively.
 
2012-03-31 10:38:05 PM
And heathcare in China is a joke, it's not nationallised, it's pay-for-playand you can't even get Advil over the counter.
 
2012-03-31 10:38:11 PM

Clarence Beeks: Lack of reading comprehension skills is a classical indication of an idiot a participant in the public education system. Haw tehy R teh loosorz!


FIFY
 
2012-03-31 10:38:36 PM
Anenu: And here i was thinking i wouldn't need to post this picture today

/pallets of hundred dollar bills
//double stacked


I'm having trouble visualizing this. What is it in Statues of Liberty or Rhode Islands?
 
2012-03-31 10:38:41 PM

Emposter: FTFA Most borrowers have a reasonable amount of debt, and the total balance is not likely to cause major damage to the economy like the mortgage crisis did, experts say.

"I don't think it's a bubble," said Mark Kantrowitz, publisher of Finaid.org, a financial aid website. "Most students who graduate college are able to repay their loans."

...

the default rates on federal loans are climbing. They hit 8.8% in 2009, nearly double the rate five years earlier

WTF is wrong with these so called experts?


They aren't experts, they're people with a vested interest in keeping tuitions high and student loan debt flowing.
 
2012-03-31 10:38:49 PM
Why do we need more people going to college again?
 
2012-03-31 10:39:25 PM

sethstorm: To use their smarts to fix the US instead of letting it die.


Heh, yeah right.
 
2012-03-31 10:39:44 PM
Global information economy, where people must have a working knowledge of science, technology, and human organization to run the infrastructure.

America, where we make the young deeply mortgage their futures for a working knowledge of science, technology, and human organization.

fark YEAH!
 
2012-03-31 10:40:12 PM
Wow. If you boiled down the trolling of the OWS-police brutality threads, the cognitive dissonance of an "Obama is the messiah, which is why we need THE ONE to save us" thread, and mixed in a little "hahaha, you shouldn't have listened to us (your parents) when we told you to go the best school possible, you still wouldn't have the concentration of pure farking stupidity in this thread.
 
2012-03-31 10:40:16 PM
If you want your kids to succeed, tell them the facts. Everything been told about how things work and what they need to meet life's demands is a crock of sh*t.
 
2012-03-31 10:40:37 PM

dkimball: Here's an idea..do better in high school to get scholarships, finish early, don't pick an expensive college, have a long-term plan for paying off the loan...etc

Rich husbands/wives and the lottery are not valid alternatives.


Definitely part of the solution, but not a complete solution.

/what I did tho.
 
2012-03-31 10:40:55 PM

rebelyell2006: LouDobbsAwaaaay: sethstorm: Except that China has far fewer freedoms and treats workers with less respect.

The poster I was responding to might have been talking about China, but I wasn't limiting my remark to that country. There are a lot of places you can go to escape student loan debt, and if they offer a real economy AND healthcare ... what reason remains for the educated to stay in the US at that point?

A lack of language skills? I fried my brains taking Russian as an undergrad and I don't think I should attempt to try another foreign language for the time being, particularly something as complex as Mandarin.


Mandarin is easy to learn bybook, but difficult to pronounce. It may be a good idea to learn a bit
 
2012-03-31 10:40:56 PM

MNguy: And heathcare in China is a joke, it's not nationallised, it's pay-for-playand you can't even get Advil over the counter.


I look forward to hearing your stories about life at the Chengdu Re-education Camp for Foreign Deviants.

Daraymann: Why do we need more people going to college again?


It's that or learn a trade.
 
2012-03-31 10:41:11 PM
dkimball: Here's an idea..do better in high school to get scholarships, finish early, don't pick an expensive college, have a long-term plan for paying off the loan...etc

No, kids, don't listen too this asshole. Smoke bongs and chase tail. This other shiat can wait.
 
2012-03-31 10:41:17 PM

sethstorm: LouDobbsAwaaaay: The poster I was responding to might have been talking about China, but I wasn't limiting my remark to that country. There are a lot of places you can go to escape student loan debt, and if they offer a real economy AND healthcare ... what reason remains for the educated to stay in the US at that point?

To use their smarts to fix the US instead of letting it die.


I don't think we CAN fix this country. I'm starting to believe that unless something happens to shake us down to our foundations and really stop and look around...we're just going to drive right off that cliff and into the abyss.

c'mon dude...a good portion of Republican voters actually looked at Gingrich and said to themselves 'gee, he looks like a great family values candidate'. how can you convince people that mind numbingly stupid that education is what this country needs to save itself...
 
2012-03-31 10:41:30 PM

Ow! That was my feelings!: So, the government handing out basically zero responsibility and zero accountability loans on both the front and back end is gonna end badly?

[www.demotivationalposters.org image 640x553]


If you think there's zero accountability on the back end, you're out of your frickin mind, they'll garnish your wages without a second thought, say goodbye to even the thought of a tax refund, and oh ya, no matter how bad or expensive your medical conditions are, unless you're totally disabled, they're gonna say you're doing great, so keep on paying. Bankruptcy won't even slightly adjust your student loan like it would credit card or other forms of debt. Your on the hook for the rest of your life and they're gonna get their damned money.
 
2012-03-31 10:41:32 PM

LouDobbsAwaaaay: Dow Jones and the Temple of Doom: So... Go? Or biatch about it on the internet, either way.

Nobody was talking to you.


Nice deflection.
 
2012-03-31 10:41:33 PM
Is this is what happens when everyone who can calculate the exponential growth of interest receives full ride scholarships?
 
2012-03-31 10:41:36 PM

The_Gallant_Gallstone: Do a quick internship or just lie if you can't get one.


You think they don't call up your references and previous employers?
 
2012-03-31 10:42:06 PM

LouDobbsAwaaaay: sethstorm: To use their smarts to fix the US instead of letting it die.

Heh, yeah right.


Yeah, chiao
 
2012-03-31 10:42:18 PM

herrDrFarkenstein: Global information economy, where people must have a working knowledge of science, technology, and human organization to run the infrastructure.


I mean, if you want o build anything of use with that information,m you have to move to China, but, TEH FUTURE IZ HERE!!1! Stop drinking kool aid. It's bad for you.
 
2012-03-31 10:42:30 PM

bunner: Clarence Beeks: Lack of reading comprehension skills is a classical indication of an idiot a participant in the public education system. Haw tehy R teh loosorz!

FIFY


Thanks for the assist.

/public-school educated
 
2012-03-31 10:42:36 PM
Meh. Depends on what you mean by "crisis." I wouldnt call it that myself. Then again I didnt lend them the money. It seems to me the crisis is one of a crisis in the morality of our youth. Pay your bills you deadbeats.
 
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