Inequality, student debt and millennials

Colleges should be about education, not profits nor record high student debt!

Millennials are the most highly-educated generation of young adults in our nation's history, attaining college degrees at record-high rates. Yet despite their greater educational attainment, they appear to have less wealth at this point in the lives than prior generations.

This analysis draws a picture of an economy where the bulk of the benefits of the economic recovery have been going to those who already have the most wealth. For millennials who aren't lucky enough to be at the top, educational debt seems to be emerging as the largest obstacle to creating wealth. If policymakers wish to address inequality among this generation, it seems that they have no choice but to address their student debt burdens as well.

source

They bailed out big business. Meanwhile the student debt is out of control.

Less job opportunities, constantly being told college is the natural progression from highschool.

a reply to: AlaskanDad

The same goes for healthcare and prisons. Privatizing institutions intended for benefit of the common good has been shown to be a terrible thing. America needs to stop being obsessed with money and profit and start giving a crap about human beings.

Get rid of all the government subsidies and loans.
Tuition will drop like a rock without our tax dollars.

a reply to: Hoosierdaddy71

And why are the college administrators paid so much? So stupid. It's profit and indoctrination. Destroy creativity, any initiative to change the world and they're taught to pay attention and show concern for a small set of issues.

Profit over people.

originally posted by: Hoosierdaddy71
Get rid of all the government subsidies and loans.
Tuition will drop like a rock without our tax dollars.

And this is the real answer.

There it is.

1.) Something starts that costs money.

2.) Some people cannot afford it.

3.) Government steps in so they can afford it.

4.) Profit motive guarantees pricing into government's pockets, not the regular consumer's.

5.) Costs rise and now more people cannot afford it.

6.) Government continues to make it affordable.

7.) Cycle continues and soon no one can afford it without government help.

8.) Bubble bursts.

It is simple economics. The government skews the markets. It happens in every market the dabble in, and pretty soon they are the only serious player, and all the little people get shafted.

I wonder what the debt averages are for public universities vs. private?

a reply to: AlaskanDad

I'll tell ya, if you are familiar with me, you'll know that I do not side with liberals on much, and most issues that are divvied up by the political parties should NOT be partisan anyway.

Having said that, I am a proponent of free university education for any CITIZEN who wants one, but in those disciplines that would contribute to the GDP and fill any talent deficit. Any engineering, medical, technical disciplines. You art history majors would be on your own. Why are we importing technical expertise from India, China, etc.?? Are there not enough smart people in the US? Of course there are, but a higher education is prohibitive for many people because of cost. And why couldn't certain industries and corporations contribute, for some kind of commitment from students, which happens to a certain extent now.

Rather than spending all that money on the war machine, the government should be spending it on the brain machine. Considering that so much industrial espionage occurs, you'd think that companies would rather hire US citizens.

a reply to: ketsuko

I'm sure they will do a fine job on our healthcare though..snicker...lol

Sorry.

no you are correct. Any time government funding gets involved, the price will go up.

a reply to: ScientiaFortisDefendit

The problem with FREE is that it actually isn't. We're all taxed for it. And you do get what you pay for. Look at the wonderful quality of our public education.

College education is free in Europe and my husband sees the caliber of student that comes out of those places. He has had his work ripped off by Euro interns on at least two occasions so they can have a paper for their Master-level degree, and his company currently has workers from all over the world, but very few of them are educated in Europe.

originally posted by: Yeahkeepwatchingme
a reply to: Hoosierdaddy71

And why are the college administrators paid so much? So stupid. It's profit and indoctrination. Destroy creativity, any initiative to change the world and they're taught to pay attention and show concern for a small set of issues.

Profit over people.

College administrators? As if! The highest salaries for colleges in most states are sports coaches.

a reply to: ketsuko


I have to agree.
I don't want to pay for some kids degree in African American studies.
On a side note. We have a fine private university near by and you would not believe the amount of foreign students attending class there. They come here for their education so that has to mean something. Not sure what.

I have always believed higher education should be free. Of all the things we can subsidize; an education is one of the few that provides real benefits to both society and the individual.

originally posted by: AlaskanDad
Yet despite their greater educational attainment, they appear to have less wealth at this point in the lives than prior generations.

This to me has to do with the fact that those prior generations are now living longer than their elders were.
At the same time, they are hoarding the money that they see as 'theirs' .

They have the means to become the overlord to an entire younger generation and they are taking full advantage of it.

a reply to: Hoosierdaddy71

Production of food is incredibly subsidized and it's remained incredibly cheap. What's the difference?

originally posted by: Hoosierdaddy71
a reply to: ketsuko

I'm sure they will do a fine job on our healthcare though..snicker...lol

Sorry.

no you are correct. Any time government funding gets involved, the price will go up.

remember this one?

The Project first gained wide attention in the mid-1980s uncovering Pentagon waste and fraud by publishing reports, provided by whistleblowers, exposing $640 toilet seats, $7,600 coffee makers, $436 hammers and other overpriced spare parts used by the military. The group was renamed Project on Government Oversight [POGO] in the late 1990s.

originally posted by: tavi45
a reply to: Hoosierdaddy71

Production of food is incredibly subsidized and it's remained incredibly cheap. What's the difference?

Butter cost me $4.50 a pound yesterday. You have a different idea of cheap than I do.

originally posted by: Krazysh0t

originally posted by: Yeahkeepwatchingme
a reply to: Hoosierdaddy71

And why are the college administrators paid so much? So stupid. It's profit and indoctrination. Destroy creativity, any initiative to change the world and they're taught to pay attention and show concern for a small set of issues.

Profit over people.

College administrators? As if! The highest salaries for colleges in most states are sports coaches.

They are probably the only people at these university that earn their money. And the janitors.

originally posted by: ketsuko
a reply to: ScientiaFortisDefendit

The problem with FREE is that it actually isn't. We're all taxed for it. And you do get what you pay for. Look at the wonderful quality of our public education.

College education is free in Europe and my husband sees the caliber of student that comes out of those places. He has had his work ripped off by Euro interns on at least two occasions so they can have a paper for their Master-level degree, and his company currently has workers from all over the world, but very few of them are educated in Europe.

I realize that, but as I mentioned, where would you rather see our tax money go? To bombs and other hardware that kill people or break things, or to education, which will pay dividends forever? Hell, get enough smart people in the same room, maybe they can come up with a cheaper way to break things and kill people, if that ever becomes really necessary (it hasn't been for a long time).