The College Dream About to Burst?

originally posted by: iwanttobelieve70
repayment of the loans should be 10% of your annual income. If you are in school for one year you pay that 10% for two years, 4=8 and so on.

The schools can't set that as it is typically the Federal Government backing the loan.

a reply to: nerbot

It has nothing to do with rights. It has to do with people handing over 10s of thousands to experts to only be miseducated.

When you hire experts you can expect them to provide results. I remember the recruitment. Empty promises and insinuations.

This is about consumer rights. Not rights of employment.

1) grades are racist, sexist, homophobia, spread ‘toxic’ Masculinity and so forth.

When you stop demanding the best, you get a lot of blah

2) some see college as a ‘right’, that every needs the opertunity to do.

originally posted by: AugustusMasonicus

originally posted by: iwanttobelieve70
repayment of the loans should be 10% of your annual income. If you are in school for one year you pay that 10% for two years, 4=8 and so on.

The schools can't set that as it is typically the Federal Government backing the loan.

Never said they could. All I’m saying is this should be done. Of course schools would not do it unilaterally. They may not teach you how to run a business but they sure as hell understand how to run one.

originally posted by: iwanttobelieve70
repayment of the loans should be 10% of your annual income. If you are in school for one year you pay that 10% for two years, 4=8 and so on.

10% of nothing is still nothing...

a reply to: lakenheath24
Her grievance has two parts; the claims about job prospects and the claims about quality of tuition. On the first point, she has no case unless the promises were unusually direct. Perhaps future prospectuses will include a legal disclaimer; "Nothing is this document should be taken as a guarantee of employment". That should cover them. If she can't get work because employers don't have a high regard for the qualification, that is something she should have checked out before applying.

It isn't easy to judge the other part of the case. The world has known some neglectful educators. Gibbon had one who always remembered to collect his salary "and forgot only that he had a duty to perform". She complains that she was told to "self-study". I suspect that what we have here is a culture clash between the lecture system of tuition and the tutorial system. On the latter system, there MUST be a significant element of self-study, because lectures on their own cannot deliver all the information which the course of study needs. My college room-mate was a mathematician. In his case the daily lectures were a vital part of the course, and missing a few would leave big gaps in his knowledge. But my group of historians was told "The lectures are there and you can go to them if you like, but don't think of it as work." The real meat of the course was the weekly meeting with the tutor, the weekly essay title and the attached reading list of books and articles. If she was just given a reading-list without any tutor input, then she has a point. If she came expecting to depend entirely on her lecture notes, and got the tutorial system instead, then she doesn't have a real grievance.

originally posted by: iwanttobelieve70
All I’m saying is this should be done.

Then you need to get your local Congressional Representatives on it since it won't happen at the collegiate level. Most of the schools have nothing to do with the loans as they are coming from institutions with government backing.

originally posted by: AttitudeProblem

originally posted by: iwanttobelieve70
repayment of the loans should be 10% of your annual income. If you are in school for one year you pay that 10% for two years, 4=8 and so on.

10% of nothing is still nothing...

Exactly now you are getting the problem and the solution.

I compare college degrees to baseball cards.

When I was a kid in the late 70's to early 80's I collected baseball cards.
The hobby caught fire when people found out that some of the cards had great monetary value.
By 1990 you couldn't find a card that will ever be worth much because everybody collected perfect condition cards. Market flooding.

College degrees are the same way now.
Everybody is expected to get a degree.
Kids wanted a degree and colleges obliged.
Not long ago a piece of paper stating you had an education meant something. Now anyone can get that piece of paper.
No market value anymore.

a reply to: MichiganSwampBuck

I found my first 2 years to be a waste of time and money. Why should one pay for 2 years of what is basically re-hashing High School? Get straight into the degree portion.

Our school system is so archaic, it is criminal. The whole system is monetized now, and the product itself is atrocious.

a reply to: Bluntone22

Completely agree with you there. Bachelors degrees are basically HS diplomas now. I hardly know anyone who actually works in their career field they got their degree in.

originally posted by: lakenheath24
a reply to: MichiganSwampBuck

I found my first 2 years to be a waste of time and money. Why should one pay for 2 years of what is basically re-hashing High School? Get straight into the degree portion.

Our school system is so archaic, it is criminal. The whole system is monetized now, and the product itself is atrocious.

The guaranteed loan is the entire problem here. Get rid of it first and most problems will fix themselves.

It's times like this I decided to invest in myself by starting a business instead of being saddled with debt for a degree that may never lead me to the promised lands.


My advice, invest in yourself, stop giving all of your hard earned money (or parents/governments money) to for profit schools.

Thats awesome, but you are probably 5% of the population who can do that successfully. The other 95% will then owe some bank/friends/family nearly as much as a degree!!!
a reply to: eXia7


Student loans need to be curbed for sure....its a bubble waiting to burst and could cause a lot of people to start their lives in a giant credit rating nightmare.

a reply to: bigfatfurrytexan

That is called poor research,just because you saw some school offering degrees in 2 weeks,thats the millenium way,why waste years of study,when with the right price can buy one,and when push comes to shove they could be a Democratic hopeful

The first thing to fix this problem is to get the government out of granting and guaranteeing student loans. The government's approach to giving money to anyone regardless of their prospects to pay it back is why college is so expensive now. The loans have driven inflation of prices because everyone can get financing and the schools know this so there is no incentive to lower costs.

In a free market, banks would provide student loans but they would be underwritten in a manner that forces students to major in something practical and/or would prevent poor students from getting loans they have no hope of paying back. I also think the university should have skin in the game. The university should be guaranteeing like 5 or 10% of the student's loan. This would ensure the university has something to lose for students dropping out or taking on too much debt that they default. Very similar to the housing market.

For example, if you are a top student and get accepted to Cal Tech or MIT to major in engineering, plenty of banks would probably give you a student loan as your job prospects upon graduation are really good. On the other hand, if you are a mediocre student and want to study geography at some third tier university, you probably would not get much by way of student loans. You will need to pay for it yourself. What this does is force that lower tier university to lower their prices so those "hobby" courses like geography are more affordable.

What people also need to realize is that there are only about 50 schools that are considered prestigious. These are the schools where your job prospects will be the highest graduating. If you get into an Ivy or peer schools, then taking on loans within reason is not necessarily a bad investment. Otherwise, you should go to the cheapest school you can find and take on as little debt as possible.

originally posted by: Oldtimer2
a reply to: bigfatfurrytexan

That is called poor research,just because you saw some school offering degrees in 2 weeks,thats the millenium way,why waste years of study,when with the right price can buy one,and when push comes to shove they could be a Democratic hopeful

What are you talking about? No where is it mentioned that im referencing those correspondance schools.

Don't be ridiculous.

i will say this again. The party that puts an end to guaranteed student loans will be hailed as saviors.

Trump the man that uses the bankruptcy laws wisely could take this up.

Here's the thing, MBA programs are known for being easy. I have friends who have taken coursework at top ten mba schools, and most say it's a joke. Many other professional degrees, however, are much more rigorous. a reply to: lakenheath24

originally posted by: Quetzalcoatl14
Here's the thing, MBA programs are known for being easy. I have friends who have taken coursework at top ten mba schools, and most say it's a joke. Many other professional degrees, however, are much more rigorous. a reply to: lakenheath24

As a grad of a top 3 MBA program, I'd say it wasn't that rigorous or hard. With that said, I think the difference is just how MBA programs are taught vs say med school or law school. The case study method and group project work is prevalent which makes it a little easier vs just rote memory, test taking,and writing papers.

Also, top MBA programs draw from a different pool of students. Most students at top MBA programs have generally worked at least 5 years in a variety of fields from banking to consulting to engineering. In other words, the students are bringing real world experience to the classroom vs say a typical law student or med student who really hasn't done sh*t else except study in college.

When I was in b-school, I had classmates who worked at say Goldman Sachs in M&A. They'd actually worked on many of the deals we discussed in finance class. Or classmates who were in consulting and worked on engagements driving big strategic company changes discussed. Or a product engineer who was actually at a start up when it launched, etc. That is where the real learning is occuring at top b-school, not so much from doing rote accounting problems, etc.