Editorial:Student loans: The next housing bubble

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  02 February 2013
Editorial:Student loans: The next housing bubble

Quote:
"
The American system of higher education is increasingly becoming a fiscal disaster for ever-larger numbers of students who move through it. That disaster is being caused by a combination of terrible incentives, institutional greed and the pervasive myth that more education is the cure for economic inequality.

The extent of this myth is highlighted by a new report from the Center for College Affordability and Productivity, which indicates that nearly half of all employed college graduates have jobs that require less than a four-year college education. Despite such sobering statistics, the higher-education complex remains remarkably successful at ensuring that American taxpayers fund the acquisition of educational credentials that, in many cases, leave the people who obtain them worse off than they were before they enrolled.

"
http://www.salon.com/2013/02/04/stu...housing_bubble/
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  02 February 2013
Shoot, i knew this way in advance, this is not surprising. The Government provides massive amounts of money to education with a Bank in a form of a Government guaranteed loan, the school takes advantage of that loan for however they see fit so therefore the price of tuition skyrockets and after some time we create a loan bubble. This is what happens when you have Government involved in Education. The same thing happened in Housing with Government. When will we learn, that the way our society is structured is all backwards and there is too much Government in our daily lives, This is the result, one of many over the decades. First, the Dot Com, then Housing, now Student Loans.
 
  02 February 2013
Also, to add to this. This is exactly why i will not go to art school. As if the financial risk is worth it. So much for wanting to be an Artist.
 
  02 February 2013
What makes you think you need an art school to be an artist?
 
  02 February 2013
You want to add to that Robert, that students need to check if loans are forgivable. Most are not. And the major players behind that are - you guessed it - the same people involved in the mortgage bubble - Goldman-Sachs.
 
  02 February 2013
Originally Posted by Allen1: Shoot, i knew this way in advance, this is not surprising. The Government provides massive amounts of money to education with a Bank in a form of a Government guaranteed loan, the school takes advantage of that loan for however they see fit so therefore the price of tuition skyrockets and after some time we create a loan bubble. This is what happens when you have Government involved in Education. The same thing happened in Housing with Government. When will we learn, that the way our society is structured is all backwards and there is too much Government in our daily lives, This is the result, one of many over the decades. First, the Dot Com, then Housing, now Student Loans.


Well.. Gov does not need to guarantee loan, because you can not file bankrupcy for student loan.
You have to pay until you die.
This is why banks are easily give a loan.

You dont have to blame gov for everything.
 
  02 February 2013
Originally Posted by gandhics: Well.. Gov does not need to guarantee loan, because you can not file bankrupcy for student loan.
You have to pay until you die.
This is why banks are easily give a loan.

You dont have to blame gov for everything.


Well, the reason most student loans aren't forgiven is because they're federally insured, so you can actually trace that back to the government

That being said, people need to look at things logically when financing their education. If you want to teach French literature or be a social worker then that's outstanding, more power to you. Don't, however, take out a giant loan to study that at a private university that costs more per year than you're going to make as an annual salary when you get a job in your field.
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  02 February 2013
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