Student loans and panic attacks...

[rebel100]

Still thinking student loans are acceptable? How about no free time, choices made because of what you owe, and panic attacks for your financially burdened children?

I actually don't agree with some of the tactics aimed at addressing the problem in this article, rather seeking to highlight the plight of students who foolishly take on significant debt.

Strategies For When You're Starting Out Saddled With Student Debt : NPR

[Leherself]

I just have a hard time with this - when did people start thinking it was okay to take out six figures worth of college debt? Then they get out into the workforce and realize, "hey, my debt payment is almost like a mortgage!" Because, duh, you took out more money than some people pay for a house, and now you're realizing that makes it hard to make ends meet on entry-level salaries? You think?

The average debt is $30k. That's still a lot, but if you have a decent job then it's not much worse than all the people who go out and buy brand new cars. It can take a little while to pay that off, but it's doable so long as you get a decent job.

But $100k? $200k? I owe $200k on my house but you know, I get to live in it in the meantime, I can rent out rooms for extra income, and when I move I can *sell it* and get some of that money back. I can't imagine owing that much on an intangible thing. It's crazy.

It's crazy, and it's also completely unnecessary. $120k for a teaching credential? My AAS, BA, & MA in Teaching combined aren't going to cost even a third that much, and most of that either already has been or will be paid by others, because I deliberately looked for employment that would pay my college expenses. I've also deliberate chosen less expensive programs (WGU's teaching degree should cost less than $15k) and cost saving options like CBE. Sure, it's taken a few years longer than just going to school would have, but that just means I have life and work experience I can bring to the table in addition to my education.

It's hard to completely blame students though. Most young students are living outside the home for the very first time when they're in college - they don't know what things cost, or how hard it can be to earn a good living. They see high tuition costs and think, "it's such a good school! It's the program I've wanted to attend since I was 12." No one sits down with incoming freahman and says, "hey, this college is awesome, but how many decades of financial hardship and stress is the next few years really worth to you?" Because they think they're going to go to a great school and then they'll make amazing money and it'll be fine in a few years. They don't think it'll be decades - they don't realize that many people are having their student loan debt garnished from their social security checks.

I think it's grossly irresponsible and unethical to extend that much credit to people who don't have jobs, and who may not even be old enough to drink yet. And if anything it's worse to try to recruit cosigners - how many parents have sabotaged their own financial welfare just so their kid could go to an overpriced college?

[TrailRunr]

We all know the right tactic is to avoid student loans, yet NPR dances around that like a good politician.

Maybe a bit OT, but this NPR article's fluff is expected especially when NPR, FOX, CNN, ABC, CBS, NBC, and BBC are all firmly controlled by the establishment. Only Al-Jazerra, RTnews, and CCTV News would be willing to launch a large expose on the depth of the student loan crisis in the USA and suggest that high schoolers avoid student loans like they avoid cocaine. The establishment media will say college is always worth it for every single high schooler no matter the cost or the field of study.

Addressing the problem would involve discontinuing the taxpayer backstop of student loans and make them bankruptcy eligible. It's the same with solving tobacco use by outlawing tobacco use and outlawing tobacco use in TV/movies. None of this will see the light of day with the current guard in the establishment.