Do feel sorry for people with massive school loans that complain they can’t pay it back?

[ralphc1]

The last three generations have been told their life will be a dead end if they don't go to college.

Now, we have the current generation completely screwed over due to this guilt trip.

I feel more dread for the upcoming disaster that will make the 2008 debt bubble burst look like a hic-up.

Being old, I read the obituaries every day to see if I'm in there. I have noticed that a high percentage of the people who have education and job history listed in their obituaries never had a job that had anything to do with their degree. I've known several companies who want managers who have college degrees and they hire people who have a degree that has nothing to do with the job. These are companies that were started and turned into highly profitable companies by men who had, at most, an eighth grade education. They were then run into the ground by third generation, college educated people.

 

[Slick_36]

Most of the best schools will give you a free education if you are poor, and qualify. I don't think you pay a dime of tuition at Stanford unless your household family income is $80,000/yr. You don't pay full rate until household income is $180,000/yr.

I'm more so responding to the statement that an education that doesn't cost an arm and a leg is worthless, that a financial barrier is necessary. I know there are options and programs available. I still think the current system is predatory and artificially inflated, but there's still some mobility in there.

 

[djacobox372]

Most of the best schools will give you a free education if you are poor, and qualify. I don't think you pay a dime of tuition at Stanford unless your household family income is $80,000/yr. You don't pay full rate until household income is $180,000/yr.

Just because your parents make decent money, it doesn't mean they saved any of it or are willing to share it.

 

[all caps]

Yes. They all got scammed. And stupid parents didnt do any due diligence to make sure their kids werent hung out to dry. Weve got a whole generation enslaved by debt.

We can bail out banks, people running massive ponzi schemes can declare bankruptcy and get off with a slap on the wrist, but a whole generation of young people are trapped by a debt they cant get any relief from.

And even worse, we cheer and laugh at our fellow citizens because of it and wish them nothing but the worst.

 

[Holic]

I left school due to mental health issues at the start of the new semester. Because I never unenrolled, I was charged for the full semester. And because it was a state school, they treated that shit like a tax debt.

So combine that with the massive loans I'd taken out for my previous years, and I didn't even have a degree to show for it. And I STILL got a job and climbed out of the hole eventually.

To be fair I lived at home most of that time, so I do have some sympathy for kids who do that. But in terms of loan forgiveness? Fuck em.

 

[Lubaolong]

I left school due to mental health issues at the start of the new semester. Because I never unenrolled, I was charged for the full semester. And because it was a state school, they treated that shit like a tax debt.

So combine that with the massive loans I'd taken out for my previous years, and I didn't even have a degree to show for it. And I STILL got a job and climbed out of the hole eventually.

To be fair I lived at home most of that time, so I do have some sympathy for kids who do that. But in terms of loan forgiveness? Fuck em.

That sucks you were on the hook for that. You can usually pretty easily get a retroactive withdrawal if it’s for mental health reasons. It just takes a conversation with a student advocate person and a letter from a psychiatrist.

 

[boingyman]

I don't feel sorry for them, but I do feel bad how expensive college can be these days. I went to a local college in the late 90s, early 2000s. Back then community college was less than $600/semester for 12+ credits, meaning you could take 20+ credits and the pricetag would be the same. When I transferred to the University it was only about $1500/semester. I was also fortunate that my parents paid for my college. For my profession it requires a year internship. I decided to work for a year to save up money and then apply for ones that were free or stipened as my top picks. Got into my first pick that had no fee/tuition, provided free room and board, free meals and $500/month stipen. I bought a cheap ass Kia (yes Kia) to get around. On top of that they offered me a job when I completed it so I was luckily never in debt.

 

[Fuzzybabyducks]

Yes I do . Schools lie, don’t tell you about the rates, play other dirty tricks along with sallie Mae.. . basically ask you to sign a piece of paper at a young age that puts you in debt for forty years

Also it’s the only loan bankruptsy won’t clear out ... school loans are dirty business and no reason education should be so high ... people shouldn’t be in debt for the rest of your life for trying to get further education

 

[Mcountry]

Nobody felt sorry for me.

 

[Smoochie Wallace]

Absolutely not. I've taken student loans, and it was great. Then you just have to pay it pack over the years, obviously. It's just a coice, I don't see why I should feel sorry about someone willingly taking a loan. But then again the situation probably looks different in different countries.

 

[Fuzzybabyducks]

Nobody felt sorry for me.

I do

 

[Fluffernutter]

Being old, I read the obituaries every day to see if I'm in there. I have noticed that a high percentage of the people who have education and job history listed in their obituaries never had a job that had anything to do with their degree. I've known several companies who want managers who have college degrees and they hire people who have a degree that has nothing to do with the job. These are companies that were started and turned into highly profitable companies by men who had, at most, an eighth grade education. They were then run into the ground by third generation, college educated people.

After the 08-09 crash, the economist published an article stating that the biggest financial hubs in NYC used to be run by guys who started in the mailroom and worked their way up to management, then to the board.

But, a generation ago, that practice stopped. Rather, people were starting their jobs at middle management right out of college. They had no idea how to look at the big picture and really understood nothing outside of their narrow responsibilities. They were clueless and those with more tears at the company became resentful.

Loyalty to their coworkers and to the company stopped. No one gave a shit outside of themselves.

Then, the companies started screwing up royaly.

 

[all caps]

Absolutely not. I've taken student loans, and it was great. Then you just have to pay it pack over the years, obviously. It's just a coice, I don't see why I should feel sorry about someone willingly taking a loan.

You are happy that a couple rich people are able to get richer off young kids that dont even understand how the world works yet when they sign on to be in debt for the foreseeable future? That's not weird to you?

 

[Fluffernutter]

 

[BearGrounds]

Yes, because I know what it's like to have crippling debt after college. I luckily got out of it, but many aren't as lucky.

HS kids get sold this dream and not all of them are mentally mature enough to understand what they're getting into. It's largely a racket, with "guidance counselors" and society at large assisting in the deception.

We should do better as people, but we probably won't. Most will just victim blame, give the system a pass on its predatory behavior, and business will carry on as usual.

 

[Mcountry]

I do

No you didn't and don't bother. Like a man, I handled it.

 

[Judoka1532]

I don’t. Why should I feel sorry for someone that knowingly chooses to major in a useless degree because it’s their dream and then they’re stuck with +$100 grand in school loans and can’t find a job in said field? Why on earth would someone study linguistics, liberal arts, drama and theater, philosophy or fashion design just to name a few? These are the same people that want student loan forgiveness or for the tax payers to bail them out. What did they think was going to happen? Didn’t their parents talk some sense to them? College is only necessary if your going for the following degrees:

Medical
Law
Engineering

Everything else is a waste of time. I know far too many people with useless degrees that aren’t even working in the field that they went to school for and end up with school loans that they’ll be paying for the next 20 years.

I agree it's solely the "students" responsibility. I also do have a hard time feeling sorry for them. However, I know there's a percentage of students who probably didn't make the decision to go to college on their own. they may have been pressured, or hell some may have not been aware that what they were getting themselves into. I mean we're talking about 18 year old kids making a decision about what they want to do for the rest of their life. Let me be honest, I didn't know what the hell I wanted to do.

But the sympathy stops there because ultimately it's nobodys elses fault that somebody accrued that debt. And it's the job of the graduate to pay their shit back. Make the shit work. Too many graduates sit around making excuses too scared to do something outside of their "field." And they complain because they can't pay their bills. But the elephant in the room is everybody that can graduate college can find a job to pay it off. Even if you have to put your big boy pants on a get a 2nd job...

Also, TS: did you go to college?

 

[LHWBelt]

I still have $30k in student debt and I don't feel sorry for myself. I agreed to take those loans knowing good and well that I'd have to pay them back. With all of this talk about cancelling student debt, I don't even necessarily agree with doing that. I would however, be okay with them getting rid of the interest on the loans. I would be able to pay back the principle twice as quickly.

Yeah I don't agree with the canceling student debt at all. That's life you took on a debt now you gotta pay it back. Work hard, make the money, get it done. Or don't lol doesn't matter to me.

 

[Smoochie Wallace]

You are happy that a couple rich people are able to get richer off young kids that dont even understand how the world works yet when they sign on to be in debt for the foreseeable future? That's not weird to you?

Yes, if it's some sort of evil scheme then it's abhorrent. As I said, the situation is probably a lot different in let's say USA than in Sweden. I'm in debt, but it don't bother me none. I know what a loan is, so of course you're going to be in debt after taking one.

 

[Judoka1532]

Yes, because I know what it's like to have crippling debt after college. I luckily got out of it, but many aren't as lucky.

HS kids get sold this dream and not all of them are mentally mature enough to understand what they're getting into. It's largely a racket, with "guidance counselors" and society at large assisting in the deception.

We should do better as people, but we probably won't. Most will just victim blame, give the system a pass on its predatory behavior, and business will carry on as usual.

I don't disagree with what you are saying as to the reasons why so many go to college. But I also don't feel it's society's responsibility to then have to go back and take care of those kids who got duped.

I'll say this though, college (if done right) isn't as bad as some people might make it seem. I've witnessed non-college graduates struggle really hard in the workplace. I couldn't help but wonder if the college experience may have helped them some. But there are too many variables to know for sure.