Monday, October 10, 2011

The 99 Percent - Student Loans

There is a new crop of people on We Are the 99 Percent who have buried themselves in Student Loan debt.

I don't know about y'all, but is sounds like the simplest solution here is to abolish student loans.  They are simply hurting too many people!


Mary Sutton said...

So how does shutting Wall St down help them? It is the source of capital for start-up businesses and for expansion.
Some of these people are simply unlucky. Others choose professions that are not in high demand. There never has been a guarantee that a diploma will get you anything; it has simply been a correlation to increased income.
Good luck to them - but they will need to work hard to get a job, and given the doldrums we are in, that may take a while.

Deacon Vicky said...

People with over $100K in student loans? They should not have gone to college or they should have chosen cheaper colleges and/or majors that would actually pay enough to handle the student loans. My daughter was accepted at Sarah Lawrence & decided to go to a state school instead. She declined to double her undergraduate loans in the first year of her Master's program just to have a degree from a snooty school. I feel sorry for people now in this dilemma, but just cause you were stupid or naive doesn't mean the whole world has to fix it for you.

Anglican Beach Party said...

I agree with you both!

Free Range Anglican said...

A lot of people in America go to college because they can't think of anything better to do, they're living up to someone's expectations and have no direction. In short, they're bored. The demand of these people drives up the price of college. Government subsidies drive up the cost, too, as colleges get addicted to funds. And the short story is this: most of the time a college education is a poor financial investment. For those of you who ended up with a ton of debt from that poor investment, I'm so sorry to hear that, but its not a societial problem. People make bad investments all the time. College educated people who think we should bail out their bad investment "cause, well, I think they should and all" are just proving how bad the investment was not only financially but academically.
I am a college graduate. My husband is not. We live on his salary. 'Nuff said.

Anglican Beach Party said...

Thanks for chiming in, FRA! I agree with you.

My son is supposed to start at an expensive college next fall, which supposedly has 100% placement rate for graduates. It is certainly one of the two top schools in the nation for his major. But I still wonder if it mightn't be wiser to have him just apprentice with someone already in the trade ... the way it used to be done.