From 481B -> 1.6T in just 10 years (2006–2018). What is happening? It is not like people did not go to college pre-2006. https://finance.yahoo.com/news/jpmorgan-ceo-jamie-dimon-calls-student-loans-a-disgrace-171749043.html
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
Ban that fking exception. Effectively end new student loans. No one would say no to that except the banks.
How about not take major in useless things like grievance studies. Invest your time and money in something that provides ROI
So people did not take useless majors pre-2006?
Probably did, but the economy has no use for them now
Don’t take out loans you can’t pay back🤷🏻♀️. Why should we have to pay for their mistakes?
Unfortunately you are already paying for lots of things of other people.
And I have no desire to add Karen’s 150k history degree from some generic liberal arts hellhole to that
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.
Agree. It is unfortunate that society implicitly creates a stigma for kids who dont go to college and follow their own paths.
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.
Ban new student loans then. Earn the fking money before spending it.
Subprime students loan crisis looming.
Cause education can’t cost such an insane amount of money that people have to take multi year credits to cover it.
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).
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.