Student Debt - the next Crisis ? Hillary MIGHT propose a solution

by Marathadi-Saamiyaar Sun May 03, 2015 1:39 pm

like she did with her Health care overhaul

But, this is really a HUGE trillion$ problem. The unemployable high school dropouts who study in the "for-profit" universities ($40K/yr tuition) are a big liability. Those going to professional schools like business, Law and Medical rake up debts of around 300K.

by Kris Sun May 03, 2015 8:21 pm

Marathadi-Saamiyaar wrote:

like she did with her Health care overhaul

But, this is really a HUGE trillion$ problem. The unemployable high school dropouts who study in the "for-profit" universities ($40K/yr tuition) are a big liability. Those going to professional schools like business, Law and Medical rake up debts of around 300K.

>>>I don't know what kind of advice these kids are getting, but before they/ their parents sign on the dotted line, are they counseled by the lending agency on the employment and income prospects for the chosen field of study? What if he starts out with computer science and changes to underwater basket weaving in his second year? Does the loan funding still continue? If there is no consideration to the marketable skills the kid is going to have, this is one of the dumbest business models in lending. Of course, they can shrug it off and say the kid/parent is obligated, but the source of repayment has not been vetted out. If that is the case, the basic model is outdated. We are not living in the 60s or 70s when a diploma by itself got you a job where the employer could afford to train you.

by Marathadi-Saamiyaar Sun May 03, 2015 9:18 pm

Kris wrote:
Marathadi-Saamiyaar wrote:

like she did with her Health care overhaul

But, this is really a HUGE trillion$ problem. The unemployable high school dropouts who study in the "for-profit" universities ($40K/yr tuition) are a big liability. Those going to professional schools like business, Law and Medical rake up debts of around 300K.
>>>I don't know what kind of advice these kids are getting, but before they/ their parents sign on the dotted line, are they counseled by the lending agency on the employment and income prospects for the chosen field of study? What if he starts out with computer science and changes to underwater basket weaving in his second year? Does the loan funding still continue? If there is no consideration to the marketable skills the kid is going to have, this is one of the dumbest business models in lending. Of course, they can shrug it off and say the kid/parent is obligated, but the source of repayment has not been vetted out. If that is the case, the basic model is outdated. We are not living in the 60s or 70s when a diploma by itself got you a job where the employer could afford to train you.

Most going to these universities "National American University" etc are high school dropouts who dont have patience or confidence to go for a 4 yr degree. They talk to their "peers" and do these 1 and 2 year "associate degree" programs in EHR, radiology tech, Med Tech assistant etc. They are not smart enough to do their own research.

Most desis wont understand this bcz we all come from educated background and on "survival" mode. But these are the kids who are nearly lostand trying to find their way out of the jungle blindfolded.

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Student Debt - the next Crisis ? Hillary MIGHT propose a solution

Student Debt - the next Crisis ? Hillary MIGHT propose a solution

Re: Student Debt - the next Crisis ? Hillary MIGHT propose a solution

Re: Student Debt - the next Crisis ? Hillary MIGHT propose a solution

Re: Student Debt - the next Crisis ? Hillary MIGHT propose a solution