The student loan racket

[barretcreek]

https://accordingtohoyt.com/2023/08/16/the-vexed-question-of-student-loans/

This is a long article. Author emigrated from Portugal in her 20s so she no like commies and their ploys.

The local four year college, one of the least expensive in the country is almost impossible to graduate in four years, as detailed in the article.

If you know anyone in the going to college demographic or their parents this is very useful information.

Many here got degrees through GI Bill/ROTC and share my 'pay up' view. This is worth reading.

I say let the schools eat it.

[Allen]

I say let the schools eat it.

I don't know how things are done today but back in my day private student loans came from S&L banks. Letting the bank eat it wasn't an option. Terms were long and % rates were low--no reason for anyone to not pay them back.

If schools finance loans now many of them should eat them from charging outrageous tuitions and hiring incompetent high paid teachers. However, for every loan that is forgiven students who paid their dues should receive the same amount of reimbursement.

[Ned Butts]

I don't know how things are done today but back in my day private student loans came from S&L banks. Letting the bank eat it wasn't an option. Terms were long and % rates were low--no reason for anyone to not pay them back.

If schools finance loans now many of them should eat them from charging outrageous tuitions and hiring incompetent high paid teachers. However, for every loan that is forgiven students who paid their dues should receive the same amount of reimbursement.

YES

[JohnMOhio]

I find it difficult to believe that students can't graduate in 4 years. That is what I was told when my daughter started. She was very determined, while working and going to classes even during the summer, she received her degree in three years. Also she paid her own way. The only time she asked for financial help from me was about 3 weeks into classes. She needed to purchase a laptop and could get a good deal through the University.

[Allen]

I find it difficult to believe that students can't graduate in 4 years.

The requirements are packed. You can't just take one or two classes per semester. You have to go with their guidelines. Some teachers are simply piss-poor teachers. Some grade on a curve forcing many students to drop out of that course and have to take it over, etc, etc. Some students try to work part time while attending school. Some students transfer from one school to another or change majors. That being the case many courses may not transfer or be irrelevant. There's many reasons a person may not finish college in 4 years.

[JohnMOhio]

I agree with you Allen, there are many reason a student can't get their degree in 4 years. Changes made such as majors is often a cause as is changes by the school that is required to graduate. However a determined student that sticks to their planned goal can do it. I never thought my daughter would be that goal orientated and she never discussed her plans. One day she phones me at the office and tells me where she is going to attend college. I asked a few questions, learned that she flew down to Florida, enrolled in the University, found an apartment and a job on a 4 day trip. Purpose of her call, was to ask me to drive down with her and her clothes and essentials to set up her apartment. She already made arrangements to ship the bulk items instead of hauling them down in a trailer.

The degree she obtained was in Airport Management from Embry Riddle Aeronautical University. Worked out to be who you know rather than what you know. To shorten the story, she decided to go back to college. Received a degree in nursing, worked at the Cleveland Clinic heart and lung transplant department. Eventually to get a shorter driving distance to work she transferred to another hospital and is now a surgical nurse. A determined woman from an early age. Is she an exception? I can't say. I under rated her for sure. I am sure there are other students with the same drive.

[JohnMOhio]

I wonder what the change in costs of higher education were before and since the Government got involved with student loans. Taken the previous costs and adjust them for inflation over the years and compare that to what is being charged today. Anybody know? As we all know, I am sure, the government over pays on most everything. Even the lowest bidder can have an inflated selling price.

[barretcreek]

Pennies on the dollar.
Administrators get the big $$$. Faculty suck hind tit. My graduate advisor made way more as a consultant and project manager to mining companies than the state paid him.