ELI5: Why is student debt in the US tripled in 10 year?

New / Eng PQQw63
Jun 27 21 Comments

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TOP 21 Comments
  • Kearney & Company dcamazon
    Don’t take out loans you can’t pay back🤷🏻‍♀️. Why should we have to pay for their mistakes?
    Jun 27 2
    • Uber / Eng mH7bSe
      Unfortunately you are already paying for lots of things of other people.
      Jun 27
    • Kearney & Company dcamazon
      And I have no desire to add Karen’s 150k history degree from some generic liberal arts hellhole to that
      Jun 27
  • Amazon Mackenzi
    Government guaranteeing loans + student loans are excluded from bankruptcy = schools have the wrong incentives and raise cost

    Also check our administration roles in US universities over the past two decades
    Jun 27 1
    • Uber / Eng mH7bSe
      Ban that fking exception. Effectively end new student loans.
      No one would say no to that except the banks.
      Jun 27
  • Microsoft Minkle
    How about not take major in useless things like grievance studies. Invest your time and money in something that provides ROI
    Jun 27 6
    • Microsoft Minkle
      Probably did, but the economy has no use for them now
      Jun 27
    • Intel D’s🥜
      Why does everybody assume student debt issues come useless majors?

      Our doctors have huge financial debts
      Jun 27
    • Microsoft Minkle
      Yeah but they have the ability to pay it off. Unlike someone who took underwater basket weaving
      Jun 27
    • Intel D’s🥜
      Right, they won’t default but the standard timeframe of repayment is 10 years for a doctor. During their residency, they average 50% take-home pay spent on paying student debt.

      https://studentloanhero.com/featured/pay-off-medical-school-debt/

      IMO, being able to pay debt != validation of that debt amount
      Jun 27
    • Microsoft Minkle
      Here is another solution don’t take it then
      Why is it any different then me wanting a mansion and not being able to pay off my mortgage

      Even after getting a degree you are going to be a barista then don’t go to college

      I don’t get this entitlement

      I want something. I sign with banks to help me get it. Now I don’t want to pay it back? WTF
      Jun 27
  • Google / Eng dontneed
    It’s a huge irony of our times. When free education by the best teachers is available online, people are paying more than any time in human history.
    Jun 27 1
    • New / Eng PQQw63
      OP
      Agree. It is unfortunate that society implicitly creates a stigma for kids who dont go to college and follow their own paths.
      Jun 27
  • Uber / Eng mH7bSe
    Ban new student loans then.
    Earn the fking money before spending it.
    Jun 27 0
  • Facebook yolosamba
    Luckily I had enough fed/state grants + intentionally dropped out after a year so I never had student loans.

    I’m always saddened when I see people go to some universities that charge $50k/yr only to get a humanities degree.
    Jun 27 0
  • Facebook lnstagram
    Cause education can’t cost such an insane amount of money that people have to take multi year credits to cover it.
    Jun 27 3
    • New / Eng PQQw63
      OP
      I personally this would kill young American’s competitive advantages.

      A future employee can do undergrad in a foreign country for 1/10th of the cost. Then, do 1 year master here for $50k and snag a job of $150k.

      True it takes efforts to get a Master but it implies that our undergrad system is broken.

      Everything I learned in my undergrad can be found online (Computer Science).
      Jun 27
    • Facebook lnstagram
      I can tell you more, you can even get Masters abroad for 1/100th of the cost of US education and still get hired by G/FB if you pass the interview.
      The cost of tuition in US is ridiculous. Same as healthcare.
      Jun 27
    • Uber / Eng mH7bSe
      Master in 1 and half year is still useless in reality if you can't do the same in 4 yrs.
      Jun 27
  • Google / Eng dontneed
    Subprime students loan crisis looming.
    Jun 27 0