Rolling Stone's "The Great College Loan Swindle"

clmetal said:
As a dad, I'm dealing with this now. I have 2 sons in hs at the top of their class. I can send them to a state school they are overqualified for, or i can send them to an ivy league school and borrow big to do that. Final option is a military academy. Very hard decision.
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Congrats to your boys. Not only does that require smarts, but hard work as well.

I question whether they are over qualified for State school, unless you are in Wyoming...You can make your education as rigorous as you like. If they are valedictorians with perfect SAT/ACT, yes they are pry overqualified, but they should be able to get academic scholarships.
 
If parents are gonna feed their kids the "you need to go to college or else you'll end up in the gutter" then they need to start doing a better job guiding them into a major that will actually keep them out of the gutter.
 
College is dirt cheap in my state(Florida) so I don't understand the need for loans. State schools are like $250/credit hour. My first degree was retarded(Poli Sci) which I paid cash for throughout school but my 2nd degree(Nursing) yielded me almost 100k in my first year of work after completing my degree which cost under 10k. Whoever says there isn't a chance for upward mobility in America simply doesn't have work ethic. I have zero respect for people who bitch about their student loans. Currently doing Family Nurse Practitioner then Mental Health NP and planning on doing telepsych from home/PRN in the ER make 200k with zero loan debt.
 
HatchetHarry said:
College is dirt cheap in my state(Florida) so I don't understand the need for loans. State schools are like $250/credit hour. My first degree was retarded(Poli Sci) which I paid cash for throughout school but my 2nd degree(Nursing) yielded me almost 100k in my first year of work after completing my degree which cost under 10k. Whoever says there isn't a chance for upward mobility in America simply doesn't have work ethic. I have zero respect for people who bitch about their student loans. Currently doing Family Nurse Practitioner then Mental Health NP and planning on doing telepsych from home/PRN in the ER make 200k with zero loan debt.
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You’re still a male nurse ;)
 
$0. I actually will make around $86,000. I have around 50 credits so far and am active duty. Just now about to get out of the military. Going to use the Post 9/11 GI Bill to finish getting my degree. Will have have 9 or even 18 months left on the GI Bill afterwards to pursue technical training.

I don't understand why more people don't join the military for school. You can go to school for free part-time while you're in. You get paid $1,000 to $4,200 a month to go to school full-time for 36 months after you get out, you learn a trade, you get to travel, and it looks great on your resume.
 
I went to a Cal State school from 01-05, the tuition literally doubled while I was there and had IIRC doubled again since then....

it's getting egregious, especially once the Government took over issuing all loans

Used scholarship/loans for undergrad, GI Bill for my undergrad Finance Cert, MBA and MS Org Led
 
I have a friend that is sending their daughter to Baylor. The tuition is $54k a year including housing. She is going to be a elementary school teacher. They are justifying it saying that is where she will most likely meet her husband and that is worth $212K.

Can you believe that?
 
Kitafuji said:
I have a friend that is sending their daughter to Baylor. The tuition is $54k a year including housing. She is going to be a elementary school teacher. They are justifying it saying that is where she will most likely meet her husband and that is worth $212K.

Can you believe that?
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An elementary school teacher from Baylor? She could have went to San Jacinto Community College to do the same thing. I'd be pissed off.
 
Scarecrow:
I want a brain.

Wizard of Oz:
Sorry Scarecrow... I can't give you a brain. Nobody can.

I can however award you with a degree!
 
Scerpi said:
An elementary school teacher from Baylor? She could have went to San Jacinto Community College to do the same thing. I'd be pissed off.
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They do not want her to meet her future hubby at a CC.....eye roll
 
College guide
look up your chosen fields Average income
Find school for job
Multiply out tuition times credit hours needed
If those numbers don’t work out this ain’t for you
But tuition will go up
Of course it will, that’s why we’re checking it now
If your degree doesn’t immediately unlock the job like nursing does then it’s even more of a gamble

Profit
 
Just like everywhere else in life, you have to make good decisions. It's really as simple as that. Make bad decisions and life will pound your ass without lube.
 
Dont major in History for undergrad

Excellent for Jeopardy and Trivial Pursuit but thats about it
 
Kitafuji said:
I have a friend that is sending their daughter to Baylor. The tuition is $54k a year including housing. She is going to be a elementary school teacher. They are justifying it saying that is where she will most likely meet her husband and that is worth $212K.

Can you believe that?
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I don't think it's that ridiculous as long as they are paying out of pocket. I should be able to pay 200k in tuition for my future child by the time they are college aged. If she is taking loans that is absurd.
 
Banks borrowing this money at almost 0% interest rates and lending it to students for 6%-8%-10% is a Fn slap in the face of young people across the country.

Anyone who thinks otherwise is not thinking straight. Student loans hurt the housing market as well. People can't afford a house paying off a mortgage in the form of a student loan. Hell student loans have higher interest rates than a house
 
HunterSdVa29 said:
Dont major in History for undergrad

Excellent for Jeopardy and Trivial Pursuit but thats about it
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Or if you wanna continue your education and become a lawyer or say a history teacher.

We do need history teachers in schools. No major is useless if that's the field you want to be involved in
 
Lead said:
College is whatever investment you make out of it. Did you pick an expensive or cheap college? Did you get a low or high salary job as a result of your degree? It's definitely not a scam but can be a very poor investment if you go somewhere expensive for a useless or low paying degree.
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to add to that, even cheaper ones are going up in tuition faster than inflation. So you're either screwed a little or a lot.
 
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