thanks obama (college edition)

[Bruce Jibboo]

buyer beware?

federal government is the one who is enforcing the no way out of the debt and laughing all the way to the bank with the earned interest on a lot of the student loans.

In the past six months, more than 7,500 borrowers owing $164 million have applied to have their student debt expunged under an obscure federal law that had been applied only in three instances before last year. The law forgives debt for borrowers who prove their schools used illegal tactics to recruit them, such as by lying about their graduates’ earnings.

Thousands Apply to U.S. to Forgive Their Student Loans, Saying Schools Defrauded Them - WSJ

Click to read more...

 

[Rent Free]

I don't even know where to begin with this. Some of it is such a shit show I do feel that some are misguided and taken advantage of but at the same time who should get stuck with the tab? The tax payers? We already eat every other fuck up so how would this be any different?

Then there is this quoted directly from the article.

“I feel robbed of my life,” wrote one student who said she owes $114,000 in federal student debt—most of it in her mother’s name—for her time at a branch of the Art Institutes chain of for-profit schools. “Even after paying my student loans on time and in full every month for over seven years, I’ve barely made a dent.”

Syd Andrade’s story is emblematic. He said in an interview that during his high-school senior year, he received a call from an Art Institutes recruiter promising “great facilities, great teachers, use of industry-standard software” for a game-art design program.

Mr. Andrade, who graduated from the company’s Tampa, Fla., location, said the classes used outdated software and were taught by an instructor who knew less than the students. “Most of the time spent in her classes were us teaching her,” he said. “It was a group effort of everyone trying to learn together.”



Hmmm hows that ART degree working out? I don't really feel sorry for people persuing something that is such a niche degree, that the student SHOULD have bailed at the first signs of the STUDENT being the teacher in the class room not the other way around!!

PS making the MINIMUM monthly payment is NOT how to pay off debt!!! 7 years and barely making a dent? Hmmm must be making that minimum monthly huh?



Then in the back of my mind all I can think about is that the democrats want to make college education FREE.

At what point do we draw the line and say no you have to work for things in life?

HAND OUT HAND OUT HAND OUT FREE FREE FREE.

Damn it that's all fine and dandy but first explain to me HOW, and WHO is going to PAY for it!!
NOTHING is free. Someone has to eat the cost some where down the line.

Ohh another things comes to mind too. I'm getting real tired of people being LAZY. You cant go to school for a niche degree then expect to find a job right down the street. Sometimes MOVING is required to use the degree you choose to pursue!

 

[Bruce Jibboo]

These kids can thank Obama who most probably voted for and learn from the mistake. Society as a whole seemed to have guided them that way but high schools also helped sell it and got rid of the trades classes so your almost railroaded into it. What a mess.

 

[Jay4]

what do you expect when one of the reasons they voted for obama is because they thought he was cool.american education has really gone down the toilet over the years

 

[BeerOrGasoline]

The much, much larger issue at hand is how out of control tuition is. The cost per semester continues to climb because the fed will keep handing out loans non-stop. Honestly, I'm not even close to being irritated by the students trying to get it expunged. It's not their fault tuition has increased at such an exponential rate.

 

[LikeABauce302]

The much, much larger issue at hand is how out of control tuition is. The cost per semester continues to climb because the fed will keep handing out loans non-stop. Honestly, I'm not even close to being irritated by the students trying to get it expunged. It's not their fault tuition has increased at such an exponential rate.

Word.

My tuition for grad school keeps going up in some way or another. One thing I've noticed is tuition may not change, but there are increases in department fees, lab fees, etc.

 

[Rent Free]

All about lining them pockets. It truly is in every facet of life today.

Someone is reaping the benefits, and someone is getting bent over.

Can someone tell me when does the average person get to be the one reaping the benefits? For lack of a better way to explain it my ass hurts.....

 

[guspech750]

What the fuck are people spending on schooling.

My wife just finished two masters degrees in 3 years from Lewis University and and if I recall. Didn't even break 30k. We payed cash and her work covered some.


Here's an idea. And I know it may sound crazy. Go to a school you can afford.

Fuck you stupid students. Man up.

 

[sickmint79]

not being able to discharge student loan debt is from the early 80s as i recall.

the government providing more and increasingly large funding for student loans with reckless abandon to schools that simply ask for more, since they will get it and find a place to put it, has been happening under all administrations in the same time.

thanks obama out of ironic funnies = ok
if using this as some kind of legit critique of obama or any of his supporters, it's just someone being a partisan hack

 

[Jay4]

thanks obama out of ironic funnies = ok
if using this as some kind of legit critique of obama or any of his supporters, it's just someone being a partisan hack

your suppose to call them a racist like the typical idiot obama supporter does,everything will be great until the tax payers can no longer fund all of the "free" shit they want

 

[Jay4]

and learn from the mistake.

the only way people who voted for obama are going to learn from the mistake is when the country goes bankrupt and they can no longer get there welfare checks every month(and they'd probably still think its george w bush's fault)

 

[VenomousDSG]

Since I've already paid for all my college, can I just have some money back?...

 

[BeerOrGasoline]

DePaul tuitions increase ~$1k for every new graduating class. At least they lock in your tuition rate through graduation. At some schools you're expected to pay the increase every year.


Why the consistent rise in cost? Because the Gov will continue to "help" fund it. The system is broken.

 

[Stink Star]

Boo-hoo! I borrowed money and they expect me to repay it

Are college students retarded these days? How in the actual fuck can you take out a loan and then bitch that you have to repay it? Do they not realize that is how it works?

 

[BeerOrGasoline]

I'm not complaining about having to pay it back, I'm saying how fucked it is that the cost of a college education is rising exponentially with no real rhyme or reason other than the government will keep lending it without question. The universities know this and are taking full advantage of it.



My DePaul tuition was 31k per year. I graduated in 2014. It's now 34k per year. What. The Fuck.

 

[Bruce Jibboo]

not being able to discharge student loan debt is from the early 80s as i recall.

the government providing more and increasingly large funding for student loans with reckless abandon to schools that simply ask for more, since they will get it and find a place to put it, has been happening under all administrations in the same time.

thanks obama out of ironic funnies = ok
if using this as some kind of legit critique of obama or any of his supporters, it's just someone being a partisan hack

well the rise was not linear, especially when looking at PUBLIC 4 year university and it happened on his watch. Unfortunately he has been focused on the NRA and attempting to dismantle the second amendment by going after law abiding citizens.

 

[b00sted]

Boo-hoo! I borrowed money and they expect me to repay it

Are college students retarded these days? How in the actual fuck can you take out a loan and then bitch that you have to repay it? Do they not realize that is how it works?

I hate to bring up this phrase since I feel it's overused, but: Entitlement Mentality.

People think that their Bachelor's degree is some golden ticket to an instant high-paying/high-ranking position. When that doesn't pan out, they look for other people to blame.

A college education is an investment. You're an absolute fool if you don't research the field you're majoring in beforehand. "I'm not doing it for the money, I'm doing it because I love **insert niche art degree**!" - Well, then don't bitch when you're on the hook for student loans and the only job you can find includes drawing in my latte foam.

 

[Chester Copperpot]

I hate to bring up this phrase since I feel it's overused, but: Entitlement Mentality.

People think that their Bachelor's degree is some golden ticket to an instant high-paying/high-ranking position. When that doesn't pan out, they look for other people to blame.

A college education is an investment. You're an absolute fool if you don't research the field you're majoring in beforehand. "I'm not doing it for the money, I'm doing it because I love **insert niche art degree**!" - Well, then don't bitch when you're on the hook for student loans and the only job you can find includes drawing in my latte foam.

I agree but there's a bigger issue at hand. Those same people gladly giving out the loans are the people telling these kids "oh, just go to college and you'll get a good job. I won't tell you that your 13th century women's studies of childrearing is as worthless as tits on a bull but fuck it, you get 'em tiger! I get paid either way!".

As much as I disagree with the original post of idiots getting into financial debt and expecting to just have it disappear, there is a "bait-and-switch" game being played. "Get a degree, you'll get a good job." *starts the job hunt* "Well, we have an entry level position where you won't even be looked at if you don't have a degreee but we want minimum 4 years experience and X Y and Z for a 30k a year job. Oh, don't like it? Look elsewhere." You're sold something with the notion you at least have a chance to start somewhere and the job market ends up being dick and people want a master's degree worth of knowledge for a part-time entry level position. It's laughable really.

However, is that the fault of the banking and financial institutions? No but we need to stop telling kids from middle school to highschool "just go to college". I don't give a shit how played out and tiresome some people see/think of him, Mike Rowe is absolutely 100% correct. College is merely a different avenue. You can make more money at a younger age and faster with an apprenticeship into a journeyman position at any type of labor field than you can in the time it takes you to get your degree and suffer through the entry level positions and getting shit on for X years. Sure, you'll still get shit on as an apprentice but once that's over you'll still be making more money faster than going the other route.

 

[Stink Star]

I agree but there's a bigger issue at hand. Those same people gladly giving out the loans are the people telling these kids "oh, just go to college and you'll get a good job. I won't tell you that your 13th century women's studies of childrearing is as worthless as tits on a bull but fuck it, you get 'em tiger! I get paid either way!".

As much as I disagree with the original post of idiots getting into financial debt and expecting to just have it disappear, there is a "bait-and-switch" game being played. "Get a degree, you'll get a good job." *starts the job hunt* "Well, we have an entry level position where you won't even be looked at if you don't have a degreee but we want minimum 4 years experience and X Y and Z for a 30k a year job. Oh, don't like it? Look elsewhere." You're sold something with the notion you at least have a chance to start somewhere and the job market ends up being dick and people want a master's degree worth of knowledge for a part-time entry level position. It's laughable really.

However, is that the fault of the banking and financial institutions? No but we need to stop telling kids from middle school to highschool "just go to college". I don't give a shit how played out and tiresome some people see/think of him, Mike Rowe is absolutely 100% correct. College is merely a different avenue. You can make more money at a younger age and faster with an apprenticeship into a journeyman position at any type of labor field than you can in the time it takes you to get your degree and suffer through the entry level positions and getting shit on for X years. Sure, you'll still get shit on as an apprentice but once that's over you'll still be making more money faster than going the other route.

As a blue collar guy making more than most white collared people I know I have to agree with this. The school system hypnotizing children into thinking that the only way to be successful is to go to a four-year college is the problem as well. Granted, if you want to go into a field were you need a degree then so be it, but it is not impossible to make a good living without a college degree. And expect to pay out the ass

 

[Yaj Yak]

exactly. isn't there a mechanic shortage currently?

 

[Stink Star]

Quality mechanics yes. But it takes years of shitty pay and getting your ass kicked before you are considered a top guy making great money

 

[Chester Copperpot]

Quality mechanics yes. But it takes years of shitty pay and getting your ass kicked before you are considered a top guy making great money

The whole point is you get shit on either way. Being in a labor field you get shit on earlier so when you see your peers now leaving college and know they're about to get shit on, you smile because you know that's in the past and you already make more than they will for another 2-4 years.

 

[Diavolo]

Quality mechanics yes. But it takes years of shitty pay and getting your ass kicked before you are considered a top guy making great money

It's the same way for white collar jobs too, but the difference is the graduates going into these jobs don't understand that you still have to pay your dues.

I'm a software dev. I came out of school making shit for money. I didn't have expectations of making 100k as a 23 year old. 8 years later though, I'm making nearly 3x as my first job.

Bait and switch? Maybe, but most these kids expect to be making serious money right away. No matter what profession you're in, you aren't getting paid good money until you're worth it.

 

[Intel]

I don't even know where to begin with this. Some of it is such a shit show I do feel that some are misguided and taken advantage of but at the same time who should get stuck with the tab? The tax payers? We already eat every other fuck up so how would this be any different?

Then there is this quoted directly from the article.

“I feel robbed of my life,” wrote one student who said she owes $114,000 in federal student debt—most of it in her mother’s name—for her time at a branch of the Art Institutes chain of for-profit schools. “Even after paying my student loans on time and in full every month for over seven years, I’ve barely made a dent.”

Syd Andrade’s story is emblematic. He said in an interview that during his high-school senior year, he received a call from an Art Institutes recruiter promising “great facilities, great teachers, use of industry-standard software” for a game-art design program.

Mr. Andrade, who graduated from the company’s Tampa, Fla., location, said the classes used outdated software and were taught by an instructor who knew less than the students. “Most of the time spent in her classes were us teaching her,” he said. “It was a group effort of everyone trying to learn together.”



Hmmm hows that ART degree working out? I don't really feel sorry for people persuing something that is such a niche degree, that the student SHOULD have bailed at the first signs of the STUDENT being the teacher in the class room not the other way around!!

PS making the MINIMUM monthly payment is NOT how to pay off debt!!! 7 years and barely making a dent? Hmmm must be making that minimum monthly huh?

I am just going to focus on private for-profit colleges here as that was the basis for most of the article.

On one hand I do agree that bailing people out is bad. On the other hand you have predatory private colleges that are for profit doing stuff like this on a regular basis to people who don't know better and their parent's don't know better either. I know when I was in college I didn't get calls from recruiters of colleges asking me to sign up for their 30-40k a year programs that are crap compared to where I went for 13k a year.

But you have University of Phoenix and Corinthian private schools going after people's GI bills and low income people to get them to sign up and blow that federal loan cash pinata at their schools. For a degree that is not worth a lot based on misleading employment and job salary numbers.

115k in loans could get you through a lot better schools then what was in that article.

And Obama's administration has pushed to shut down this 3 ring circus.
Obama pushes for-profit colleges to the brink - POLITICO

Stories about the pricate colleges that are shutting down.
University of Phoenix has lost half its students. Stock plunges 28% - Mar. 25, 2015

Corinthian Colleges Files For Bankruptcy

For-profit colleges are using the GI Bill to make money off veterans - LA Times

And to put into perspective what 110k in debt is like at 6.8 or 7.8 percent. You are asked to pay almost 1000 dollars a month.

 

[Chester Copperpot]

It's the same way for white collar jobs too, but the difference is the graduates going into these jobs don't understand that you still have to pay your dues.

I'm a software dev. I came out of school making shit for money. I didn't have expectations of making 100k as a 23 year old. 8 years later though, I'm making nearly 3x as my first job.

Bait and switch? Maybe, but most these kids expect to be making serious money right away. No matter what profession you're in, you aren't getting paid good money until you're worth it.

But that's the misconception. It's portrayed that once you get the degree, you are worth it because those were your "dues". Obviously that's not the case and you ain't shit until you prove you aren't a churned-out paper mill idiot. The fact remains that that is the misconception of a degree. You're told you're worth that 50k+ job straight out of college at 23 with no true marketable skills and you are worth being selected ahead of those with experience because you're that special snowflake... ...with a degree.