Poll: Student-loan debt

Does taking out large student loans pay off in the end?

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Tell us what you think.

 

 

Comments

  • http://www.facebook.com/people/Moses-McCall/690267198 Moses McCall

    This is a difficult to answer because I believe the answer depends on the type of major. The return for taking out a large loan for a BS in computer engineering pays off more than taking out for a loan in Psychology.

  • Elizabeth

    I think the answer should be based on the job market TODAY. Never look twenty years into the future…you have no IDEA what’s coming. You could die tomorrow after signing the papers. You could lose everything twenty years from now. You could also end up being very wealthy..but that is next to impossible thanks to the tax structure we currently have.

  • http://www.facebook.com/profile.php?id=100001589668400 David B Stouffer

    I voted yes because of a few reasons. First, while recent graduates have had difficulty finding a job in their desired field, the fact remains that a college degree betters one’s chances at landing a job in comparison with individuals who just have a high school diploma. A comparison of jobless rates between individuals without a high school diploma, individuals with a high school diploma, and individuals with a college degree shows this to be true. Second, we cannot assume that the current weak economic situation will continue indefinitely. Recent government economic predictions indicate that most new jobs over the coming decades will require a college education. So, while recent graduates might be really hurting right now, in the long run their decision to go to college will most likely bear fruit.  

  • Tim

    Student loan debt is the political and banking oligarchs way of keeping the middle class in indentured servitude.  They have figured how to keep the middle class down and out of their class.  The more money the government allows people to borrow, the college tuitions rise by the same amounts.

  • http://www.facebook.com/profile.php?id=36000310 RaeAnn Roca

    The question was about debt, not attending college. 

  • Rhetter2

    I f you want a job, than no. If you want an education, than yes. 

  • Alan

    I worked full time and went to school at night for both college and law school and was fortunate that I had the Viet Nam era GI bill to help with the tuition at Georgetown Law School.  I was debt free and owned my own home when I graduated from law school.

  • Rukiddin

    I took out a student loan in 1977 and finished paying it off 20 years later. Now with the economy and needing to change careers I am back in school and taking out loans. This past year I received $17k and I’m worried about finding work at an older age, not having enough to retire and the fear of having student loans as a senior citizen. My best friend from high school and a cornell grad just sent her only child to school and her first years tuition is more than $32k. This is crazy and its ridiculous to financially cripple people who try to do the right thing by educating themselves.

  • Schott

    All research indicates that a college education increases lifetime income more than $100,000 over the life of an individual, Even though the burdens of loans are difficult, the investment more than pays off. But that is only the economic aspects. Higher education enriches the life of the individual and makes for a citizenry that is more highly educated.

    Prof. Richard Schott

  • Mrmister2011

    I voted no. I have no college education and can’t throw around 13 letter words. But I make as a waitress in a restaurant what the show stated the average college debt is. I’m not knocking that fancy piece of paper u got but I have insurance, life insurance, a roth ira, and a pretty nice amount I’m the bank account. My next plan is to buy my house cash. And no I’m not married. So I honestly have no sympathy for an adult who borrowed money they could not pay back like they agreed. Once you are 18 you are fair game for every money scheme plotted. You just fell for it because nobody assured you a job making this enormous salary. They just said you have a better chance with that paper. It’s actually quite sad but oh well. That is the way of the world.

  • Rhrobertson

    It is highly questionable that taking out high debt to secure a college diploma is worthwhile in the long run.  The education is too expensive.  The system is not honest about the rewards which may accrue.  The education establishment contributes to this in a major way as do lenders.

  • David W.

    There has to be a middle ground when it comes to paying for a college education.  If doctors can work in public clinics and hospitals in lieu of paying off medical school loans, teachers and other professionals should be able to do the same.  Some states provide such options for teachers, so why can’t such programs be expanded to other professions.

  • barb

    It is critical that the degree chosen is marketable.  Find out how many graduates with that degree hold jobs requiring this degree within 3 months of graduation.  And does the job command a wage that is commensurate with the style of living you want to have.  IF not, choose another degree.  Before college or during college, students need to hold jobs or do work-study.  Parents shuld pay as much as they can. Pay as you go.   The degree is a family investment.  A loan should be minimal.

  • Makin’ It

    When I first entered college in 1989, I had a professor tell the entire class “if we there to get an education for the purpose of learning,stay enrolled.  If we were attending college in hopes of getting rich, quit college and start working now.”  What a wise man that professor was!  Here’s what I know, I was never able to finish my B.S, because I was never willing to put my name on loans. I was never eligible for grants b/c I was caucasian and I was never eligible for scholarships b/c my grades were not good enough either.  As I get older, I have gotten smarter and have realized that I don’t need some pay Mr. Jackhole at the university 50,000+ dollars to print out a piece of paper that says I “studied”. I could lose that piece of paper in a fire, I could lose it in a tornado, it’s not worth the paper it’s printed on. I don’t need anyone to lecture me on something when I am more than capable of picking up the same book, reading and retaining the same knowledge for just the cost of the book.  I don’t need to pay someone $300+/ credit hour.  So b/c your teacher told you sign your name to loans and go to college etc.  you did it? Would you jump out in front of a moving train b/c someone told you to? I have found that using my brain for something significant like common sense has worked better for me.

  • http://twitter.com/tweetermaker Jerry Wontorcik

    There’s nothing like learning, college is paying someone to teach you to learn. I believe it is still important but not necessarily for everyone. Some should be looking at technical training. Just as much money can be made going that route and money spent better spent. College needs to be more affordable. We can’t expect young people to fix the funding problems. But culture drives the directions the masses move in… imagine, for instance, if a young person who loves football spent as much time studying the stock market instead of watching ever football game??? You think we’d have a bunch of more savvy investors??? I think so.

  • Mferraro2

    What exactly do you mean by large? More than $25,000? More than $50,000? Are you going to become a cardiologist? How about a CEO or an investment banker? Federal loan or private loan? Really a tuff question to give a Yes or No answer. People are so diverse and if at all possible it’s great if you can go to college. Eleven years ago I started in a new career but had to get a masters in my 40′s. I have student loans but it was worth it for me because I was fortunate “to land on my feet.”

  • http://mgsanchez.com/ Miguel

    I am one of the older graduates with debt having received an MFA-Painting. The problem is the demand for artists with Master’s degrees is almost zero.  I workede as an intern during school at local Museums with the idea of finding a permanent job which looked realistic at the time. 
    By the time I finished my degree the economy had slowed down and the museums were not hiring but letting people go.  My prospects for finding work are very low and thus my ability to pay off the loans is low. 

  • D Willis

    My daughter and her husband now ages 45 and 49 continue to pay off $60,000 of debt. She’s a nurse and he’s a psychologist. Both work for government agencies. Now they have two daughters who will be starting college in two years.  Of couse I’m very concerned, but I think they should go to college. I hope they’ll choose wisely.

  • Leftbehind

    I voted no because if the trend of globalization continues we are competing with labor in other countries and the Benedict Arnold CEOs of Corporate America will always go with the cheaper option of hiring foreigners in other countries where there are no labor protections or unions who set the bar for other occupations. For example the tech co’s set up technical institutions in India to train citizens there to feed their workforce needs. In China there is no healthcare system or enviornmental protections so companies set up shop there. Corporate America sees billions of new consumers to sell their products to so they have moved on creating a “middle class” there. They hire H1B visa employees here at home. The Chamber of Commerce has foreign affiliates opening up the markets for them doing business in Qatar, Abu Dabi, India. Our tax system subsidises the tax they have to pay on their overseas profits to the foreign governments and they get tax breaks when they shut down a plant in the US. A double win! All perfectly legal. To gain entry into China’s market they have to agree to give up their proprietary and intellectual property and they albeit reluctantly do. Their unpatriotic greed is amazing! They call themselves an American company but they are really multinational and locate headquarters in Cayman Islands, Zurig,Switzerland, Ireland, who ever has the lowest tax rates. The crooked ploiticians do their bidding by repeating the mantra that the US has the highest corporate  taxes in the world but many paid little or no taxes with corporate tax breaks or loopholes. See Senator Bernie Sanders list of
    Release: Tax Time? Not for Giant Corporations – Newsroom: Bernie …
    http://www.sanders.senate.gov/newsroom/news/?id=67562604-8280…Release: Tax Time? Not for Giant Corporations – Newsroom: Bernie …www.sanders.senate.gov/newsroom/news/?id=67562604-8280…

  • http://www.facebook.com/matthew.hurst1 Matthew Hurst

    I enjoyed your program.  As someone with an electrical engineering and a law degree, I’ve spent enough time in higher education to form some solid suggestions.  Here they are:

    1) Give college applicants better information on likely outcomes for people with their high school credentials.  Those applying to colleges should be able to enter their incoming credentials like high school GPA, course difficulty, and SAT into a webpage and get results that show how people like them did at different colleges after graduation.  Surveys that compare outcomes of those who went to a top college versus a regular college or other non-college career paths usually don’t control for the incoming qualifications of the students – my suggestion is to fix that.   Those going to top colleges typically had better credentials coming in, so it isn’t surprising that they may have better career outcomes later in life even if their college experience or networks aren’t contributing much.  A New York Times article last year pointed out that a mid-1990′s data set showed that, after controlling for incoming credentials, the ivy-league graduates’ advantages completely disappeared – state university graduates actually did slightly better in earnings and self-reported career satisfaction.  

    2) The webpage suggestion should also control for monthly loan repayments in comparing various options.  Most loan repayments are not tax-deductible, so ideally the tool would also control for taxes.  If someone takes out more loans to go to a better school, and has to pay an extra $10,000 per year, it may be necessary to earn an extra $15,000 per year after FICA and federal and state income taxes to make that higher repayment.  If a similarly situated students (e.g. same high school GPA and SAT) who go to the expensive school don’t earn an extra $15,000 per year over graduates of the less expensive school, then the added financial value of the school is not enough to cover the extra tuition, and a student should only go if other non-monetary benefits are sufficient. 

    3) There is plenty of room to cut costs in college.  Most college spending is not directly related to education.  I received an electrical & computer engineering degree from a flagship state university about a decade ago (during the tech bust).  Everything I learned could have been learned from the textbooks or online resources without the professors – indeed some of the best students did just that and rarely came to class.  Most spending was on proprietary research that we were never allowed to see, and was likely to be too specialized for teaching anyway.  I’m told a similar problem exists in liberal arts, with much of the research being too esoteric to be of use for most students.  My suggestions above would make is easier for students to make valid comparisons, and therefore develop a market for more efficient and less costly education – that everyone could afford. 

  • Counselor

    I worked for years as a high school counselor helping students obtain the most financial aid possible.  I never recommended loans to either the students or their parents.  My thoughts were that students could go to in-state public colleges and be able to obtain their degree at a cost that they could manage without loans.  My home state of Tennessee has a lottery scholarship program that basically
    will pay tuition for college if the student graduated high school with a
    “B” average or made a 21 ACT composite.

     I also worked just as hard helping students go to technical schools for both certificate and diploma programs that could be completed in two years or less. Students attending technical schools did not have the requirements for taking the ACT nor having a certain high school GPA, so post-secondary training is an option for almost every student who would like to go.

    Low income and relatively low income families can qualify for federal grants like the Pell.  With Pell Grants, the Tennessee Hope Scholarship and/or the Wilder Naifeh Grants for technical education, some lower income students actually received money back from their financial aid offices every semester after their fees were paid that they could use for transportation and other expenses. 

    For students and parents seeking college degrees from more prestigious schools, it might be worthwhile for them to take out loans.  As a recently retired educator, I felt it my obligation to put all the information in front of them and then let them make their decision.  Personally, I don’t think it is worth it, so I voted “no”.

  • Kevin Ferrara

    As I was told 20+ years ago when I was going for my Engineering Degree, if you think an education is expensive, the cost of being stupid is allot more. With that in mind, education is an investment just like the stock market. College is not for everyone. The problem is that our economy is so bad that people who are overqualified are forced to take jobs they are overqualified for. As a result, it has created a perception that you need to go to college to even get any job. These lower paying job definitely do not justify the cost of college. Bottom line …… just like anything else in life, it is a gamble. You are betting on yourself and your ability to succeed after. 

  • http://www.facebook.com/matthew.hurst1 Matthew Hurst

    I agree with your above comments.  What degrees are actually marketable is often different from what stereotypes might suggest.  A Time magazine reporter recently claimed that their is a shortage of engineering and science degrees – employment data and personal experience does not support that.  Many law schools claimed a median starting salary of $160,000 per year.  Again, only a small portion of lawyers at big firms doing work for large businesses in a few cities make that.  Most make less than half of that. 

    Students also need better data.  Schools cherry-pick which graduates to include in their salary data.  Universities have an incentive to promote a particular field to get more research grants. Journalists have deadlines and often repeat what they’ve heard from those who speak the loudest.  Students have to look deeper than the headlines. 

  • GMK

    A wonderful tool that is available to parents and students is the Occupational Outlook Handbook available on-line at the Bureau of Labor Statistics web-site.  The OOH tells the type of information that students and parents need to know about the requirements for obtaining a certain job, the expected beginning and future earnings, how many jobs are available projected into the future, if the job market is growing, where to go for further information, etc., etc. 

    As an additional thought, we have to face the fact that we have a pretty rigid class structure in this country.  Since many college students meet their future spouses in college, attending the “best” college may be worth it to many students.   

  • GMK

    A wonderful tool that is available to parents and students is the Occupational Outlook Handbook available on-line at the Bureau of Labor Statistics web-site.  The OOH tells the type of information that students and parents need to know about the requirements for obtaining a certain job, the expected beginning and future earnings, how many jobs are available projected into the future, if the job market is growing, where to go for further information, etc., etc. 

    As an additional thought, we have to face the fact that we have a pretty rigid class structure in this country.  Since many college students meet their future spouses in college, attending the “best” college may be worth it to many students.   

  • 2010 Aaron Smith

    What’s it worth to not be an idiot the rest of your life?

  • 2010 Aaron Smith

    What’s it worth to not be an idiot the rest of your life?

  • http://www.facebook.com/matthew.hurst1 Matthew Hurst

    Data comparing holders of college degrees needs to control for the differences in qualifications of those who go to college versus those who don’t to determine if it is the degree or the student that makes the difference.  The little research I’ve seen that attempts to control, by using high school GPA or SAT, shows that much of the advantage of a college degree evaporates.  A student with a particular SAT and high school GPA is likely to do as well at a low cost regional state university as at an ivy league school.  It would be interesting to see if the same is true in comparing college to non-college alternatives. 

  • Robert4006

    Why are your poll questions so simpistic? Yes, No? That’s it? What about “not sure yet?” When I last took upper-classman hours, I paid $18.00/class hour (at a state university). 16 hours cost me $288 for an ENTIRE semester. That was 1979. I paid $100/month to live in a run-down 100 year-old house. It cost more for rent in a cheap dive than it did to attend college. There were jobs back then. Now people borrow almost as much as a modest home — with little to no guarantee of a job. We are still farming-out jobs to overseas interests. “Secret Fed Loans Gave Banks $13 Billion Undisclosed to Congress,” — Bloomberg News. (Some research indicates far more.) Why no coverage of this abomination? Money for thieves, but none for students (our future’s best hope)… Yes, if you land certain jobs, college loans can be worth it, but what if things don’t work-out? I saw this disaster coming many years ago, and I do not believe that it has hit its peak. I am disgusted beyond words at our government for not taking this disaster seriously. We get comforting words and no real action. 8% interest on a college loan? 1.99% for a new car loan? Laws and regulations are the only thing that can slow/stop this loan tragedy. I just read where 85% of the jobs in our future will be “service jobs.” Service jobs? Dear God, what have we wrought? Just one more signpost along our sad journey in the direction of the Third World.

  • TVjazz

    WE SHOULD BE ABLE TO LEARN BY JOB SHADOWING..I MEAN REALLY WHO DOSENT LEARN BETTER HANDS ON?…I CAN’T STARE AT A COMPUTER TRYING TO FIND ANSWERS.. I’ve been trying to type this for 15min. My head hurts it should be free bottom line
    VOTE= NO

  • DLJ

     There are plenty of highly educated idiots in the world.  Borrowing and spending a large sum of money to get an education doesn’t mean one won’t still end up an idiot.

  • molliet

    My daughter took out $60K in loans. After being unemployed and underemployed for six years, her loan is now upwards of $96K. How will she ever be able to pay off this crushing and usurious debt? 

  • Lynneh

     I expected more informed reporting from Need to Know.   Public universities have raised tuition as state governments have repeatedly cut support for higher education. The decision to shift costs onto students has by and large been made by state legislatures.

  • Veryounique

    What the bankers and stockbrokers did to millions of American homeowners, educational institutions and the same bankers are and have been doing to millions of unsuspecting young people all across this country!

    Why is NO one hearing or even acknowledging the strains of Nero’s fiddle?
    This country is going to the dogs and self-destructing from within and no one is willing to admit it.

    Obama is telling us to pursue higher education, which, in the current financial reality means putting yourself into debt for the rest of your life!

    Santorum is telling us not to even bother pursuing higher education since we’ll be indoctrinated into the cult of Liberalism!

    What is a young person to do?

    I say it’s high time to take our cue from the Arab Spring and from the millions of young people who are willing to put their lives on the line to take back their country and their lives from those who have and will continue to exploit and destroy them unscrupulously.

    TAKE BACK AMERICA NOW!

  • Jan

    Having worked in higher education for nearly 30 years of my life (both in a university Financial Aid Office and in a State Student Loan/Grant Agency), I know that those who have graduated from any sort of higher education institution (be it a career school or a 2-yr or 4-yr institution) earn substantially more over their lifetimes than do those without higher education credentials.  Graduating with student loan debt is not necessarily a huge obstacle, as long as the graduate is able to get a job.  Repayment can be worked out, starting at lower rates (as beginning jobs usually pay less).  But in this job market and with the expense of American colleges, I don’t feel that paying $200,000 for a 4-year degree (or more) is necessary.  Going to college teaches us that life-long education is essential and in our workplaces, we must all learn new things throughout our lives.  But college also teaches us about discipline, time management, money management, deadlines, and organization skills.  It also teaches us more social skills so that we learn to deal with different types of students than those who were raised as we were in high school.

    Ivy League and elite institutions have a lot going for them – as is true in real estate, location, location, location – that same philosophy can be applied to higher education institutions – name, name, name.  Elite schools have higher administrative expenses (such as big name professors) and their graduates may, in fact, be able to network with fellow alumni and land higher paying jobs.  However, I don’t believe it’s necessary to go that far into debt if that is the only way to pay for Yale or Princeton.

    When I was employed at an elite 4-year institution, I counseled a student to attend her first two years at a community college.  I knew that the education she got at one of our local community colleges would be at least as good as the first two years of education at our university.  When she finished community college, then perhaps she could transfer to our university and finish her final years and get a degree from our institution.  With the money she could save by attending a community college for 2 years, she might be able to save money so that she could afford our school without going into debt.

    I know that a student shouldn’t have to graduate college or a business, trade, and technical school owing the equivalent of a mortgage.  This is a very long answer to a complicated question.  Higher education is essential for today’s students (and continuing education for adults), and American higher education is out of hand, price-wise.  But I don’t feel that exorbitant student loans are necessary , as students can get equivalent educations at state universities or even Canadian universities that are excellent (and considerably less expensive than U.S. colleges).

  • Cynthia

    I voted NO in your poll. Our culture has at least two faces, just like most people do; one public and one private.  What I mean is that since schools are a business, and most make a profit, they have come up with this marketing tool that student loans are some how a good thing; just like your guest said. They have commercials too. I am now 53 years old with a 25 year loan consolidation with the Dept. of Education that started in Jan. 2006. Yesterday I recieved my first letter saying they may change the terms of my contract from Income-Contingent to a Standard Repayment Plan and enclosed the new monthly payment of $886.46 from zero! I never received one of these letters before. I became disability retired @ 42 years old from a work related injury in 2000. I filed for bankruptcy in 2002, when all I had left in debt were student loans.  Back then there was a small window of opportunity to do so as long as I meet the courts “tests” of “undue severe financial hardship,” which I did. (I had paid off one of the loans before I filed). The problem arose from being referred to a bad lawyer who didn’t file the correct paperwork, I found that out when he sent me to court and I wasn’t even on the courts docket, so my window was closed. And, the lenders had hired a lawyer who specialized in protecting student loans for lenders. I never found a job with a Masters Degree in my field of study. My path and social pressures were the same for me when I was 18 as todays 18 year olds face when it comes to student loans, jobs (I worked on a Naval Base for 15 years with a starting salary of $390 a month & I did not own a car and then the Base was closed), and being naive to life.
    Oh, my total debt as of yesterdays’ letter from the Dept. of Education is now $127,634.94 with daily interest. I only borrowed $40,000! 

  • Madella

    “If you think education is expensive, try ignorance” is one of my all time favorite sayings. That being said, I do think there’s a point of diminishing returns and it appears we may be reaching that point. But different people go to college for different reasons.  When i was getting my masters i was surprised at the number of students who were there because their parents wanted them to be there. Seemed like a waste of money. For others, like me, the chance to expand our minds and hang out with unconventional, free thinkers was a big draw. Whatever the reason, if the desire is there, the opportunity should also be there without having to face crippling debt that takes decades to pay off. So how do we get to that promised land? 
    Over the past several years I have become a big fan of Robert Kiyosaki (Rich Dad, Poor Dad).  I am in my mid 50s now and because of him I am finally getting the financial education that I wish I’d gotten many years ago. He advocates incorporating financial education into our public school curriculum and at this stage in my life I could not agree more.  I could not have imagined saying this when I was younger but I now think that understanding what the rich teach their kids about money is what all of us need to be taught as we approach adulthood. Armed with that knowledge, college would be for those who truly want to be there for reasons other than to please mummie and daddy or because they think it’s the only ticket into the middle class. And paying for it wouldn’t cause anyone to lose sleep. 

  • Anonymous

    Borrowing money for anything usually improves the borrower’s outcome if that borrower pays off the loan.  Students and student loan debt is not an exception.  Pretending the borrower has little or no responsibility for their judgement does not absolve the agreement.  Sadly, borrowers are somehow feeling they are able to make up new rules to absolve themselves of responsibility for poor judgement no matter how those judgements were formed.  There are consequences in place for poor decisions and part of growing up is facing responsibilities.  No surprise students want to declare bankruptcy to evade responsible payments due on past loans.  It has been pointed out that there are avenues in place by which student loan borrowers can work out provisions to repay debt.  The basic problem is that borrowers do not appear to want to repay money borrowed or accept jobs that will allow them to begin payment on debts.   

  • KRH

    I voted No.  I have a child in college now.  When helping her do the FAFSA, something told me this was way too easy.  She’d get about 20% in grants, and the rest in loans. Her first year, she had to buy a $1000 meal plan.  That wasn’t supposed to be required after freshman year, but then the economy went bad, and the school started requiring it again.  That meant $2000 more a year in loans, for cafeteria food, she probably wouldn’t eat most of the time.  Somehow, she always got approved for just the right amount of loans though.  How convenient.  I’m now paying down a couple of loans during her senior year.  The bill is not easy to understand regarding how much payment went to principal, interest, etc.  The due date is like 2014.  At least credit card bills are now easier to understand – and show you how long it will take to pay off if you only make minimum payments.  I think there is a lot of fine print these kids aren’t realizing.  They, and the school just get their check. and they are set. They don’t think about the pain of paying it. back.  Sorry I’m going on and on, I just feel very strongly on the subject.  CNBC has a great documentary called The Price of Admission: America’s College Debt Crisis.  I think every high school and college student and parents should watch.  I warn my kids about smoking, drinking, sex,drugs, texting, driving, and now I’ve added debt to the list.  I think families have to weigh the cost/benefit, make a careful decision, and then keep track of the $$$.

  • CAHansonJr

    The issues are 1. the rate of increase in the cost of higher education; 2.  the imbalance of aid programs funded by the government and private entities; and, 3. the increasing reliance of students on non-federal loans.  With regard to #1, let’s not overlook that one of the major cost factors for colleges is the consistent and increasing demand for institutionally funded financial aid commonly referred to as the “discount rate” which is near 50% of gross tuition revenue at many colleges and which, in turn, limits the net tuition revenue available to pay all of the operational costs of the institution.  With regard to #2, the over reliance of the government on the “self-help” programs (work-study and student loans) largely at the expense of “gift” programs (grants and scholarships) has been going on since we elected Ronald Reagan and has not abated over that 30+ year period.  Finally, with regard to #3, because the government has already chosen to employ price controls by limiting the total government funding of loans and eliminating the public/private loan partnership program–FFELP, private loan lenders have stepped in to fill the void that colleges cannot and the government has chosen not to address.  Some remedies include: (1) rewarding (not penalizing) colleges that put forward so much of their own resources to help students; (2) begin to rebalance the self-help v. gift (perhaps in conjunction with (1); and, (3) recreate the public/private partnership in student loans perhaps restricting the partnership to the private non-profit sector.  One of the greatest mistakes made in the last decade was to allow Sallie Mae to become profit-making entity responsible to its stock holders and not to its original public purpose.

  • Jesseagay

    Yes, if done intelligently. However there are many majors that won’t lead to career employment so those should be avoided. But I believe that higher education should be very affordable as a benefit to the individual and to society in general, which with current tuition it is not!

  • Elizabeth

    For the students that take education seriously, the debt is worth it. However way too many students are lazy, too ignorant and simply think they are entitled that attending college for these people is a waste of time. They contribute very little to society…these are many of the same people you see protesting in the streets and following our Socialist President.

  • Cynthia

    Just in case you didn’t know these basic facts about people who file for personal bankruptcy, that have been reported in many public venues, back in 2002 (for example) people file because of medical costs due to a sudden illness or disability.  Let me stress the word – sudden.  Nor do they file before trying everything else – otherwise known as – a last resort. Businesses file bankruptcy everyday and get debt relief, lay off workers, take away the promises they made when they hired them (otherwise known as contracts) , take away their retirement plans (including from those employees who have already retired) and have their pensions suddenly cut – let me stress the word – sudden again. Have you heard of American Airlines, Donald Trump, United Airlines….I could go on but I have other grown up responsibilites to take care of.   

  • John Hays

    I have two Master’s, graduated with an averaged 3.76 G.P.A., don’t work in my field, and so much debt at 50 that it’s fiscally impossible for me to ever pay it off.  Being unemployed now, the interest is accruing as I type.

    Is it worth it?  It really depends on the person.  Do you really know what you want to do with your life?  Some do, and if so, then go for it; however, most students do not know at 18 what they really want to do with their life…just look at how many majors most students have before they graduate with one in a particular field.

    My answer, however, considering the costs, is that it is no longer worth the money unless you are very sure and focused coming out of high school.  I suggest that you take a year or two and work, intern, or involve yourself in things that interest you.  Starting college at 21 or 22 versus 18-19 is absolutely meaningless in our current society.  I spent four years in the Marines before I got my B.A. at the age of 27 and it made no difference – if anything, I had more discipline and focus and I finished my degree in 3 years.

    Having spent a good bit of time in Germany and having observed their education system, our vocational schools that teach non-college, necessary social skills are totally lacking in financial support and social acceptance.

    Consider this – I’m not in default, but I have so much student loan debt that I will never own a home, a small parcel of land, a new car, invest in stocks, will never experience “retirement,” will take no true vacations, and worst of all, will never, ever become involved with another person again.  Why?  I would never put a spouse in a situation where they would be encumbered with my debt via a marriage or a long-term relationship should something happen to me.  Just ponder what I’ve written, realize than many, many people in their 40s and 40s have been going through hell long before this became a popular story; I was writing in my journal and discussing this with friends as early as 1994 – what’s being written and spoken lately offers me no new insight or offers me any information that I already don’t understand.

    However, if you are considering college, or graduate school (where it really gets you), think about your options.

    You’ll thank yourself for it 10 years from now.

  • John Hays

    Your idea of avoiding majors that don’t pay is so obscene as to deserve a response.  Are you saying that kids should only attend college if they graduate with a a degree that will immediately benefit society financially?  So a person who has a passion for music, or literature, or follows a more liberal arts program shouldn’t follow their dream?  Do you understand how elitist and uninformed your response is, and that your attitude is part of the problem?

    You go to college with the hope that your avocation will become your vocation.  Sadly, that is not the case.

  • John Hays

    Your ignorance is just silly.  The only thing sad is the content of your response.  It’s not about responsibility for repaying your loan, it’s the inability of students to do so because of the clever mechanism of the student loan industry and the fact that not everyone earns the same amount of money.  Most students do, in fact, want to pay back their loans.

    You should educate yourself before posting such a ignorant and uniformed post – seriously.  Student loan debt is unlike any debt in America, so your first sentence shows how little you know about this topic.

  • http://www.facebook.com/hannah.miyamoto Hannah Miyamoto

    The Recession has wrecked the old process in which young people would borrow moderate amounts and pay them back with higher salaries.

    Under today’s recession conditions, the federal government should either pay the interest on student loans until unemployment falls, or give students paid jobs.  

  • John Hays

    Bullshit, plain and simple.  In today’s society, it’s a myth.  40 years ago a degree could get you a job in many industries, but those days are gone.  Show my your figures, your proof – averages don’t tell the story.

    Are you drawing a pension from Sallie Mae or some state?  So many states went belly up in the 90′s that Sallie Mae began snapping up their loans.

    I have four close friends that I just reunited with after 20 years – not one of them went to college and all make more money than me, and always will.  And they are not in some high-tech field, either.

  • John Hays

    Bullshit, plain and simple.  In today’s society, it’s a myth.  40 years ago a degree could get you a job in many industries, but those days are gone.  Show my your figures, your proof – averages don’t tell the story.

    Are you drawing a pension from Sallie Mae or some state?  So many states went belly up in the 90′s that Sallie Mae began snapping up their loans.

    I have four close friends that I just reunited with after 20 years – not one of them went to college and all make more money than me, and always will.  And they are not in some high-tech field, either.

  • John Hays

    I understand her position – I have had to defer and repay, etc. several times.  It’s an insidious cycle and the most oppressive debt in American history…it’s a scam, plain and simple.

    Thanks to George “dubya” Bush and his legislation in 2005 you cannot refinance your student loan, discharge it in bankruptcy (the only debt that cannot be discharged this way), and the removal of usury laws in many states, the debt collectors are are making big bucks.

  • Gery R

    salliemae appear to be making very very high rate of return!

  • Mugu

    The problem is that university keeps on offering classes such as underwater basket weaving which you could have learned on your own. These useless classes eats up resources that could have gone to degree programs that would help students to find high paying jobs.

    I would recommend universities weed out classes like film apperciation or music apperciation type classes. Those classes serves no purposes other then draining resources away from pre-professional classes such as engineering/medical/financial type classes.

  • Denise Nejedlik

    I  am one of those older students who are stuck in the student loan quagmire. Some of the private loans keep changing the rules; for example one loan says that they do not have to send a bill, let you know where the loan is, and can sue you without notice if you go into default. I have also had to take a lower paying job because I was on food stamps and I could not get a job in my new field, I really need a bachelers degree. It is really a yes no answer for me 

  • Melfisher31

    Make colleges responsible for 50% of their student loan defaults – suddenly, colleges will direct their students to appropriate majors and money will flow from football stadiums to placement offices.  Market forces can work, even on a college campus

  • Nowfreespeech

    Mr. Hays,

    “So a person who ……… follows a more liberal arts program shouldn’t follow their dream?”No, they should just be prepared to ask “Would you like fries with that?”

  • Richard

    Yes, if you choose the right profession, i.e. healthcare.

  • Waz

    Not anymore. With out of control college costs, loans secured via parents assets via co-signing, the loss of US jobs to foreign countries, thus unemployment for college grads, taking on large debts for a 4 year college degree is now a bad idea. As a company, you would want to invest in the markets that return the most and keep your company solvent, as a high school graduate since 2000; college should be looked at as a very unstable and high risk investment. As a result, consider not going to college due the fact that when you are done and have $60,000 of debt, you cannot get a job that will afford the payments on the debt while being able to afford to all the other costs of living. The American Dream is officially gone. We, as a nation, have successfully guaranteed that our children will have less freedoms and standards of living than previous generations.

  • Sherrie_brown

    The economy today makes it unprofitable to take on large student loan debts.  The fact that there has been a significant decrease in the number of lucrative and secure job opportunities available to recent graduates and other job candidates, makes it nonsensicle to pursue an extremely expensive education.  I think that the community colleges should be able to expand their offerings, and if students should decide to attend expensive institutions, they should consider studying the health professions, that require their services to certain populations and would eventually make them eligible for loan forgiveness after a reasonable certain amount of time.

    Navigating the options to pursue a higher education seems to be one course within itself.  Students need to base there higher educational decisions on the way that the system (school tuition, lenders and their interest rates, the job market and consumer protection laws) is treating them.  Choice of study should now be based upon how likely students will be able to pay back loans and not so much on the type of employment one would really like to pursue.  The job that one really wants just simply may not be available.  We seem to be living in a world systematic greed and profit that seems to continuously pursued and taken at anyone’s expense, including young people’s.

    Be wise.

  • Sherrie_brown

    In response to Mugu, I agree that courses that have absolutely nothing to do with the profession that one will be studying for should be decreased or eliminated from the required courses needed to earn degrees.  It has been said that courses such as anthropology and cultural diversity have been required to educate the student, not only in specific professionals, but to become well rounded individuals.  In other words, to cause them to understand and appreciate history and other citizen’s in the world.  This may have been a nice gesture before, but now these courses seem to be used as a money making tool for the  schools and lenders and has become “hogwash.”  I think that there is enough coverage on such subjects in the news, in day to day life and in interactions with others, cable T.V. (which offers hundreds of channels) that include politics, history and discovery, live video clips of global conflicts and networks like PBS that covers such an education.  There seems to be no way around recieving such enlightenments by just functioning in society and being exposed to television today.
     
    These course requirements should be decreased significantly or eliminated altogether.  There is really no need for them.  And, with the extremely high and soaring tuition costs to students, schools and lenders would still significantly profit from students taking mostly the core courses needed to educate them in the fields of thier chosen professions. 

    Enough already. 

  • Pat

    I am a single parent with two grown boys. My two sons racked up $125,000 dollars EACH in loans, so your average loan amounts are pretty SMALL in my opinion. One son is a computer engineer at Apple Computer, the other is a fluids mechanical engineer at BP.  Both have “Dream Jobs”.  In the late 90′s, My oldest sone got into Apple because he found out what it took to get there, and found that Apple only hired from U of Mich and certain universities. My other son (BP) almost didnt have a job after Ohio State, spent 3 months every day on the computer and checked out every job that even looked like a possibility and was willing to go to any lenght to check them out. Aside from his dgree, the BP job only asked if he liked to “travel”. He called the number, they flew him to SFrancisco, paid his move out, and he is making great money with huge bonuses at a job he LOVES. Companies are willing to pay that price for those who have taken the greatest risks and have worked the hardest to get there.  Going to a huge college with huge debt has paid our three fold. Going to a huge college is a chance of a lifetime, and it forms a persons character, like it always has. Foreign students come from all over to attend U of Mich. It should be expensive and hard. Competititve teachers want to be PAID.  Big campuses like small cities are where kids want to go.  But it is a treat to get there, like a desert, not meant to be abused or wasted, and it is the parents who need to invest more in it, way before they even decide to have kids.  Don’t have kids if you can’t afford it, because, with any great school, the days of entitlement have come to an end. 

  • Cachae7

    The problem here is perception. We believe that a College Education is the foundation for obtaining a good job, when its skills and experience. Internships gain invaluable experience that reigns more because it is what defines you (by your accomplishments). Trade schools (i,.e., Business / Medical / Mechanics) are more focused, short-term, and still offer a viable way to earn a living w/o the debt, or the promise that a Bachelor’s degree will automatically open doors. It was the Patriot Act that was designed to thwart people who didn’t have an education to force their hand. Notice how many people went back to school during the last 10 years in their 30s, 40s and 50s to get a piece of paper that still didn’t garner them anything but Debt!

  • H1 Visa

    H1 visas  H1 visas  H1 visas   H1 Visas  H1 Visas  H1  Visas H1  Visas  H1 visas <<<==========
    Thousands of people in many fields like information technology, engineering, etc.. come to work here in the United States taking so many jobs needed by American Citizens or nationals of this country. The way it works, USA corporations have contracts with third party companies that bring the H1 people here. Under the excuse that there are not many skilled professionals, corporations have been used this methodology to get cheap labor. So if we wonder why our kids can not get jobs, there you have one of the reasons.

  • Cachae7

    While I applaud your success story about your children’s education, I also raised three sons, and they all had the opporutnity to attend to college, (the youngest currently attending BMCC) but are successful nonetheless because I still made sure they got an education w/o the degree.
    My oldest son works as a customer svc rep for Cable Co and is able to support himself, my other son decided not to go into debt and enrolled in the Navy to study engineering, and my youngest wants to become a graphic cartoonist.
    The one thing I did do was pay their tuition when they were young, because pubic schools in NY don’t educate children past the 5 grade level. In the end, it was the grade school education I paid for that paved the way for them to make successful choices in life (as young Black men, they’ve never been arrested or in juvie) and they didn’t have to take remedial courses to get the education they lacked in public High School. My youngest son, (catholic school educated from pre-k) actually said education doesn’t really begin until college and that public HS didn’t teach him anything but memorization of details to pass tests. Isn’t that what glorified colleges do today as well? I used to say make a college education as important as air because it will be your breath to the world of opportunity… Now as I look back, I honestly believe that skills and internships to create a resume will go alot further than a nice college degree from a nice university.  If you have any influence on your grand children, I would suggest your son’s pay for private education while they’re young, because I don’t see the cost of a college education going anywhere but up, as its not the do-all-be-all that it once held.

  • Cachae7

    Find a way to internship in your field of expertise – even if it means moving out of your comfort zone to travel. If you don’t have young children who depend upon you, travelling towards that internship may be the first step in the direction you want to take.  Good Luck.

  • Cachae7

    Sorry, but it’s not the Gov’t job to provide employment opportunities, it is Corporate Responsiblity.  Tell Corporations to stop sending/outsourcing our jobs overseas, and we’ll be able to work again. What our Gov’t should do, is penalize each Corp $1M a month for every 1,000 outsourced jobs – they have the attitude, “Who’s gonna make us”  Same thing with the Bailout – they were supposed to lend the money and peopel “Still” lost their homes due to foreclosure – why? because they lost their job to outsourcing!  Corporations are still more responsible for this act than our Gov’t ever will.  While it was a necessary evil (the bailout to stabilize the mkt), on a personal level I wouldn’t have done it.  None of the people responsible for that fiasco suffered, only the poorest of the poor.  Forcing young people into debt isn’t the answer – taking internships (paid and unpaid) will be resume skills towards your next job.

  • Art

    Education is a must. The right education is what counts.
    Currently other countries have surpassed the US in proper education.
    Engineering skills, medical skills, chemistry, telecommunications, and computer
    science. The students in the US are taking Liberal Arts courses that do not have
    much value in the workplace. Why does the US have so many H1B visas? The
    students in the US need to wake up and take relevant courses to work and future
    prosperity otherwise we become a third world country.

  • http://profile.yahoo.com/QXC6TFK4KS7NCRDKQVGA5YQ5IE JOHN

    I don’t know the answer but I think that it is a tragic situation This is a time in our history when we need an educated workforce to compete in the global economy and as far as I am concerned education should be our number 1 priority. The false issues that have dominated the Republican nomination process is a complete travesty and has not even addressed the education issue which is one of the most important facing this country. The reason that they perceive that a college education turns young people into liberals is that it does because they do become more educated.

  • guest

    Do I believe in the power of education to make a difference in one’s life. Yes! The caveat being however…buyer beware. Once upon a time it was possible to get a well rounded college education without being mired in long term debt. Now, we ask that people literally gamble their future away in the hope that todays hot career sector won’t disappear or become overflooded…as so many have. What has not been sufficiently acknowledged is that we now live in a global world where employers can acquire talent from anywhere on the planet and do.

    As so many of our well educated have discovered, there is little job security for anyone. In a world where employers have their pick of the best and/or cheapest…what happens to everyone else? And in a country with a very high cost of living, I don’t think more low wage service sector jobs will support an overpriced educational system.

    You would think that we might have learned something from the collapse of the overheated and overpriced housing market…but I don’t think we have. Another hard lesson is coming I’m afraid. As for the idea of following your passion and the money will follow? Only for the few.

    And as for our current paradigm of a well rounded liberal education? Sadly, at todays prices, a luxury. Spending the first two years of an undergraduate program taking mandatory classes that don’t pertain to one’s career path? Dollars for the university and more debt for the student. 

    At a time when universities are top heavy with administrative professionals, while hiring poorly paid part-time adjunct professors? I don’t think so.

  • Guest

    I am a 65 year old woman who took out $25,000 in student loans (Fannie Mae) in the early 90′s.  I began my college education at age 40 and graduated with a master’s seven years later.  My degree was supposed to be a very markatable “Master’s in Liberal Studies”, but I found it not to be the case.  I ended up going to seminary to become a United Methodist Minister.  During my tenure as a minister, I developed a very serious illness that required me to quit my “job.”  Now unemployed I was unable to pay my student loans, much less pay rent and purchase food.  When it became apparent that I was not going to be able to work again, I went on disability.  Still, the student loan authorities hounded me about my payments.  They couldn’t garnish my wages, but they threatened to take my car and take a portion of my disability payments.  Finally, years later, after living with many years of real fear and helplessness, I was able to discharge my loans when it became apparent to them that they were never going to see any money come from me.  By this time, my student debt was about $85,000 (interest accrued).  I would never get that debt paid, even if I had the money to pay it, and I would have gone to my grave still owing them money.  Is this any way to live??

  • http://pulse.yahoo.com/_BVGE6UDI7XDHTCFRUSFUEVFVHI runi

    I agree with Art and H1 visa–that immigration policies pertaining to the H1 visas (and other elements) need to be reviewed. 

  • Bob Kruszinski

    Historically, K-12 education was made universally available as one way to socialize immigrants (Irish immigrants at the time of Horace Mann and, later, other groups) or with union support (taking children out of the work force, much as Social Security helped take out older workers). Ideally, people would go to school as one possible path to learning, to becoming better citizens, to becoming better at their job/profession (which is the only real meritorious justification for higher pay). In the real world, perhaps unfortunately, students are often guided to go to school to get a better job. It’s not unusual to hear reports from other countries of people having to pay bribes to get a good job; there is a view that our system may simply be more formalized. A channel was runnning JUDGEMENT AT NUREMBERG the other night, a movie that laid out various questions and largely left the answers to the audience. Without excusing established interest groups, personal responsibility can’t be completely dismissed.

    It has been pointed out that (since the 1960s) the real per capita and total costs of higher education have been increasing, the percentage of the population that is college educated has gone down, and the percentage of college degrees awarded in fields (such as business administration) that previously were handled by high schools has gone up. With more jobs requiring longer and longer amounts of education (whether or not there is any associated independent increase in knowledge or wisdom), longer retirements (with assests, like savings, that aren’t indexed to inflation), and more unemployment, there may be a point at which the majority of consumers may benefit from deflation rather than inflation.

  • Bob Kruszinski

    Historically, K-12 education was made universally available as one way to socialize immigrants (Irish immigrants at the time of Horace Mann and, later, other groups) or with union support (taking children out of the work force, much as Social Security helped take out older workers). Ideally, people would go to school as one possible path to learning, to becoming better citizens, to becoming better at their job/profession (which is the only real meritorious justification for higher pay). In the real world, perhaps unfortunately, students are often guided to go to school to get a better job. It’s not unusual to hear reports from other countries of people having to pay bribes to get a good job; there is a view that our system may simply be more formalized. A channel was runnning JUDGEMENT AT NUREMBERG the other night, a movie that laid out various questions and largely left the answers to the audience. Without excusing established interest groups, personal responsibility can’t be completely dismissed.

    It has been pointed out that (since the 1960s) the real per capita and total costs of higher education have been increasing, the percentage of the population that is college educated has gone down, and the percentage of college degrees awarded in fields (such as business administration) that previously were handled by high schools has gone up. With more jobs requiring longer and longer amounts of education (whether or not there is any associated independent increase in knowledge or wisdom), longer retirements (with assests, like savings, that aren’t indexed to inflation), and more unemployment, there may be a point at which the majority of consumers may benefit from deflation rather than inflation.

  • http://tiny.cc/ewcollins Eliot W. Collins

    If a college sells a student a degree in a subject for which there is no need, then the college should help the student pay off their loan. Highly paid professors who teach these subjects should help their unemployed students pay their loans as well.

  • http://tiny.cc/ewcollins Eliot W. Collins

    If a college sells a student a degree in a subject for which there is no need, then that college should help the student pay off their loan. Highly paid professors who teach these subjects should help their unemployed students pay their loans as well.

  • Allancook

    A degree would be a lot more valuable if college admission were limited to those who actually belong there. Until then, most degrees aren’t worth the paper they’re printed on.

  • Austindeuel

      i have been self employed for 47 years .    college is pushed like the american dream was of owning a home must have sure secured investment value a large money cash out.pushed by the educated college  ceo’s .our universities fallow the same god ,the only way to increase  your ability to secure a life of more money in a college course on what you think you are interested in at that time   by their signature at the bottom of the your diploma, than those with out it ,is it worth the $45,000 to $50,000 of debt from a institution were the listed professor of the course makes a movie star appearances at the lecture hall,that is mostly handled by their student teaching assistant , as he is off doing ,with his $90,00 a year salary in research or trying to get published in some egg head magazine few ever see.these are the things that are important to a college management along with a high profile football program , for a embellish  reputation . this creates the hook so that for sure the college makes money ,the graduates are on their own. most of the wealthy people i have read about or met are the least formally educated educated group, ask bill gates.the best deal in a top of the line college education is at any of the four military academy’s ,they pay you to go for four years .the you owe them six years of military service and you have and excellent engineering degree and if you decide to leave the service most would have the rank of mgr ,some a lt col grossing over the ten year experience $500,000 ,be 28 or 29 your whole life in front of you with real college degree.

  • H1 Visa

     That is correct. However, I have seen with my own eyes very knowledgeable and educated  people being laid off and being replaced by H1B visa people from India. For the price of one national you can get two or three from overseas to work here. They live in hotels for a few months until a project gets done. The corporations that hire them through third parties do not have to pay them any benefits besides the “salary”.

    I have read computer engineers switching jobs to become teachers because the jobs got outsourced or replaced by another H1B person here.

    So, does my son want to go to study engineering in college?.  I do not think so because he is very concerned that he will not find a job that is being taking by H1B visa person This has been going on for years that now is difficult to reverse.

    It will take perhaps China and India 10 or 15 years to catch up with the US salaries… 

  • http://www.facebook.com/giskardgray Chris Gray

    It depends on what “pays off” means.  With almost no formal education, fugitive apprentice Ben Franklin freed the world from God-fearing with the lightening rod! It & our postal system gave freedoms that lead to our successful revolt.  Just this morning C-SPAN cablecast the President’s remarks to science students extolling Ben while promoting increasing students’ debts.

    Since I am the son of a consumer research supervisor and essentially apprenticed under she and my father in his business, I can spot a biased question when I see one.  This is one.  That’s fine with me, since I not only really agree but have in my 61 years lived it out.

    Though I attended Emerson College, studying theater and philosophy, for two and two-thirds years (in ’71 they experimented with trimesters), I have long proclaimed myself a proud high school graduate, for two years with an Amity High School banner waving above my electric wheelchair.  My successful degree at Emerson could then only have led me to the Yale Drama School or starvation and, while Mom & Dad had paid for college, grad school would have been another matter.  Plus, as a former 16-year old victim of the Milgram Experiment, I considered the perpetrators evil and, thus, hated Yale!

    So, I struck out into the New Haven community to prove what one could accomplish without a sheepskin.  To my satisfaction, I have.  Never anything beyond poor, I have never saddled myself with great debt nor have I been able to afford the luxuries of a home or family life but I did plenty of theater, hosted a couple of long-running radio shows (one, improvised theater), contributed to running the non-profit, commercially/educationally licensed station (ironically, Yale’s), worked for and then ran a statewide senior citizen newspaper, helped found our city’s Green Party, helped lead the town/gown anti-Apartheid struggle, New Haven’s successful effort to get a recycling program and establish first cable television public access programming and found a public access facility.  

    In the interim, my life has been rich with fun, especially at George II’s expense (George I was Washington) and to Al Haig’s horror and, in ’91 and ’92, I even had some fine adventures in D.C., courtesy of and with the Obamas.  Working, later, in the text dept. and as supervisor of shipping and receiving for the Yale Co-op, amusement was almost unending and, now, the digital world is opening unending opportunities to occupy myself.  Check out Washington Journal daily on C-SPAN and you may hear some of my work.

  • 13synergy

    $31,000 in debt, for a Ph.D. in Human Sciences. No job, 14 months later. My age, 60, is probably a factor. No one wants to hire me, including universities, because they want an inexperienced person, who costs less and is likely to stay around for a longer time.

  • Ldsb67

    $95,000.00 student loan debt, $28,000/year wages. 90% of wages=house payment. RIDICULOUS. I work 50 hours a week.

  • Ldsb67

    $95,000.00 student loan debt, $28,000/year wages. 90% of wages=house payment. RIDICULOUS. I work 50 hours a week.

  • Clint Reynolds

    The consciences developing in this hard economic recession; is this nation needs the bare bones, blue collar, manufacturing vigor, that put this country on the map. Yes, there is still a need for physicians, and other 4 year college degrees, but; those are not the ones (necessarily) going to bring us (United States) the next best industry, that will move are economic needs to the next step in getting us out of our dependence on other world economies and products, to move us forward. Most of  our greatest inventor of the last 200 years, did not need college degrees I.E. :  
    Dell Computers founder Michael Dell Media mogul Ted TurnerInventor Alexander Graham BellInventor Thomas EdisonArchitect Frank Lloyd WrightApple co-founder Steve JobsAirplane inventors the Wright brothers.
      

  • Clint Reynolds

    The consciences developing in this hard economic recession; is this nation needs the bare bones, blue collar, manufacturing vigor, that put this country on the map. Yes, there is still a need for physicians, and other 4 year college degrees, but; those are not the ones (necessarily) going to bring us (United States) the next best industry, that will move are economic needs to the next step in getting us out of our dependence on other world economies and products, to move us forward. Most of  our greatest inventor of the last 200 years, did not need college degrees I.E. :  
    Dell Computers founder Michael Dell Media mogul Ted TurnerInventor Alexander Graham BellInventor Thomas EdisonArchitect Frank Lloyd WrightApple co-founder Steve JobsAirplane inventors the Wright brothers.
      

  • Irene

    The need for the students of our country to go into debt for higher education is one of the most shameful realities of our time. Another sign of the decline and fall of the United States, a country now owned by corporations.

  • Abby Gilmore

    When I graduated in 1980, I recall my last instate semester’s tuition, 16 units, was under $300.  I met a young woman pursuing an identical degree.  She is paying $5000 per semester, instate.  Pardon me, but that’s insane.  The state has an obligation to make college available to its ctizens at its institutions as close to free as possible.  They have abandoned their duty driven by the same factors that spurred the mortgage catastrophe.  Government participation encouraging education like a home, and a GSE acting like a casino operator ala Fannie Mae, and even more horrible abuse of naive students by the private lenders.  Yes, those loans are sliced, diced and bundled into debt vehicles for betting on, folks.  And that means someone is betting against your success.

    Save your money.  Degree’s age.  Mine is relatively usless being thirty years old, but in that time I’ve learned to value well.  If you haven’t gone to school, yet, work in your desired field as an intern or start at the bottom.  By the time work returns, you’ll likley get your employer to help pay for what they think you need to perform well.  But don’t go into debt under this horribly unregulated and abusive system with schools leading their own students to the slaughter.  Shame.  Shame.  Shame.

  • Abby Gilmore

    Hey folks, we’re not stupid here.  Notice your principle home’s mortgage and student loan became debt that could not be forgiven in bankruptcy just as both were comprising the basis of a gigantic lending bubble?  Gee, thanks Congress.

  • Abby Gilmore

    Heartbreaking stories.  Such desperate dilemmas.  But don’t give in to divisive reasoning, folks!  It’s easy to find something to blame, age, gender, race, citizens vs foreign students, so many factors, but the central factor are tuition gone insane with abusive lenders and institutions pushing hard for folks to walk blindly to the slaughter.  Come on, if a banker knew you could walk away from that debt, they would never lend you that much money, thus tuitions could not have risen so fast.

    United, as demonstrated by that savvy young lady who’s bound to find a job soon, we can demand a Congressional reversal of this outrageous prevention of student debt being denied forgivenss by bankruptcy judges.  Durbin works annually to introduce legislation to get the primary home exclusion from banckruptcy repealed. Of course, bankruptcy is a horror in itself, but it is a chance to start over.  That the REAL American Way, not this disgraceful abuse of the American Dream to indenture our brightest and yoke their futures.  Reach out to one another to address a piece of this monster.  Take it down.

  • Aplus5

    I think a college education does matter, but burdening yourself with huge debt before you have a job is never a good idea.  There are many ways to pay for college and that’s where our focus should be. Finding a college with the program and cost that a student can afford and benefit from, should be the determining factor for that student. That’s why we have choices.  Sadly, our credit driven society doesn’t encourage careful consideration before purchasing goods/services.  

    I paid for my MA degree by working as I went to school. I graduated with no debt and was free to enjoy my earnings when I was hired in a new position. I realize that jobs are hard to find; I was fortunate to pursue a degree that was in demand.

  • Allen

    Seems like it but in 1980 I was making $13k a year and that was considered a decent salary at that time.  Hard to compare costs without taking inflation into account.

  • Allen

    Seems like it but in 1980 I was making $13k a year and that was considered a decent salary at that time.  Hard to compare costs without taking inflation into account.

  • Asuemrs

    Wow!  How do you know that?  Does this come from a study….or just your opinion?

  • Pedrofn

    I believe college should be free. If college was free people would be more successful and if what the republicans say is true than the people at the bottom could benefit from what trickles down to the less fortunate. I hate the fact that rich America always agrees on ways to keep the less fortunate exactly that. These are people who most likely never had to struggle living off the fruits and labors of their ancestors, but yet debating that they have all the right answers for all walks of life. I can’t stand politics we have gone from the land of the free, home of the brave to…come to America and we’ll change all we believe in so that we don’t offend you while your in our country.

  • Gr8fldedgirl

    I think that young adults just getting out of high school need to take they’re time and explore they’re options since college is not free like it is in some other countries. Consider an apprenticeship or a job in a field you’re considering to see if you like it. Find a career that you really want to do that can also pay your bills. I have so many friends that have gotten art degrees and are still in debt 10 years later and are still waiting tables and have lost all motivation to create art and have never been able to use they’re degrees. I have friends that have gone to school to be teachers that teach during the day and have to work at night and during the summer because its going to take quite a few years salary just to pay they’re loans. Choose your career wisely, don’t be pressured to pick your career fresh out of high school its your life and you will be the person working at that job not your parents .If your parents are able to help you pay for college don’t waste they’re money, most likely they have worked hard to provide you with an education. I am an artist, I love my life, I make my own hours, I have freedom to do what I want, I am my own boss, I never went to college and I am NOT in debt but this path is not for everyone! 

  • Rafalskys

    25+ years. I paid off 3/4s. Now owe more. 

  • Domdax15

    When you calculate the amount of debt a middle class student will
    Take on trying to graduate into $100000 year career. Then u will find
    That if they make it out with decent credit by the age of 25 or so they
    Will be almost 6+ years behind financialy than the high school graduate
    Who learned a trade an only has $40000 of debt from a mortgage which
    Converts into equity. In the end they will equal out around retirement
    if anything the trade and union would play out into a career benefiting
    $75000< per year sooner than school an with less ties to debt

  • David Lee Taylor

    Too many sectors in our economy have not been forced to make price and wage adjustments because of political manipulating. Health, Legal, Education, Law Enforcement and The Military need to join the rest of us and adjust to the fact that World Competition has eliminated the monopolistic position the United states held for decades.

  • Dwvsfiebiger

    A State of Ohio Statistical Government Employee told our group that 88% of all jobs in Ohio do not require a college degree.  Taking out large students loans will not pay out in the end.  Republicans voted against students over the past many years so let’s just say no to Republicans and vote against them.  

  • Lrbwiner

    If the intent in getting a degree is a position which requires it, great. But too many students are working toward a degree simply because they have been told it’s the ticket. I can’t state the numbers of students, who when asked, don’t know what they want to major in, and change majors on a regular basis. And considering some of the degrees being offered, what will the return on the investment truly be? For the loan institutions, a lot. For the students…long term debt, and fewer good paying positions. 

  • http://www.facebook.com/profile.php?id=1639901524 Adrienne Kilzer

    I am reluctantly voting “yes” on the poll because I think education and the pursuit of knowledge is the most important of human activities. The banks and extreme right politicians want to make an economical choice about attaining higher knowledge as part of their campaign against the 99%. A good (read “Liberal”) college teaches people how to form their own ideas, not accept the mantras of conservatives  and Evangelicals. That is worth ANY price.
    We cannot get out of the economic depression without educated people.

  • http://www.facebook.com/profile.php?id=1639901524 Adrienne Kilzer

    I am reluctantly voting “yes” on the poll because I think education and the pursuit of knowledge is the most important of human activities. The banks and extreme right politicians want to make an economical choice about attaining higher knowledge as part of their campaign against the 99%. A good (read “Liberal”) college teaches people how to form their own ideas, not accept the mantras of conservatives  and Evangelicals. That is worth ANY price.
    We cannot get out of the economic depression without educated people.

  • Anonymous

    At 68 years of age, and having graduated high school in 1961 during a period when America ruled the world economically, borrowing to achieve a college education made sense. Jobs were plentiful and diverse plus readily available throughout U.S. society. In fact, choosing history, one of the least profitable avocations historically as my major in college, I found after school that choice really posed no seroius impediment to my financial success in life.Despite the fact that I found economic headway in the business community and not in history-related endeavors, I never had cause to regret my choice. And as I worked my way through college on a work scholarship, I needed no other financial assistance to graduate debt free.

    But as the decades have progressed, I have seen opportunities I enjoyed as a young person going elsewhere in the world. And I began to become somewhat more sanguine of my children’s prospects for their personal financial stability. Of my three children, the eldest chose a career in medicine and had been moderately successful with her financial machinations. The middle child majored in Spanish and International Relations. And the youngest chose a career in Education as a Classroom Teacher. Each is currently holding their own financially. But each had to borrow money to achieve what I steadfastly held to be a truism because it worked for me, ” a college education and a degree is worth the cost.” Each has struggled to re-pay the debt despite being gainfully employed consistantly since graduation. i however have regretted the mortgage of their financial future to achieve a quality higher education. And if you asked any one of them, they would tell you that repaying the indebtedness to be the most difficult of processes.

    As I now survey the prospects of my eldest grandchild’s graduation and matriculation at a nationally well regarded institution of higher learning as an elite athlete, I am skeptical of the athletic administration’s claims that ‘everything’ will be paid for. Somehow that sounds suspiciously like, ‘ whatever isn’t covered you can borrow.’ He is extremely fortunate that his athleticism will alleviate some if not most of the cost of the opportunity to seize a quality higher education for himself. But the road for an athlete in higher education is not an easy one. I want him to be able to graduate debt free, and will do what i can to see that eventually come to fruition.

    The family has four other youngsters who are not as physically gifted as the eldest however. And I have reached the conclusion that borrowing to finance an education in their individual cases is just not worth the cost in relation to the benefit.

  • T. Ingebritson

    I feel it is every American’s right to receive FREE education as educated people become our future! As the government sees health care as the public’s right, they should go back to supplementing and providing free education in the vocational and other higher education areas as during my younger days.

  • Sonjaray

    colleges need to reduce tuition, cost of resources, books etc…. and people need to start saving and not spluging when in college- i.e. spending loads of money on weekend parties.

  • Nully

    Giving up education or allow lenders to steal from borrowers is ludicrous!
     The student loan crisis has developed entirely because there are no rules; no consumer guidelines or protection. We’ve gone from one extreme of student loans being abused to student lenders abusing the borrowers. Now student lenders, as well the associated servicers have gone so far as to cheat the student borrower without impunity. Lying, cheating and downright fraud by servicers & lenders goes unpunished. This all has been caused by the lack of consumer laws for student loans. Simply restoring application of consumer laws to student loans and demanding lenders to follow those guidelines or be subject to even criminal penalties would make all the difference.

  • Mark

    SO RIGHT!! It’s not the size of the loan or tuition costs that have caused this problem - it’s the lack of laws protecting student consumers. Just like a Town without a police force, lawlessness prevails! I have no difficulty paying my student loans but I have had problems with servicers and lenders that lie, cheat in outrageous ways that are not permitted with any other loans. Mortgages & other credit are protected by consumer laws that both borrower & lender must follow. Try asking Salle Mae personnel if YOU can record the phone conference they tell you they are recording or even have your parent or atty listen, and see how fast they hang-up.Or good luck even getting a street address from loan servicer ACS. That’s not the behavior of honest, ethical legitimate businesses . It’s time to rope in these out of control lenders and their equally abusive servicers!

  • Chuz B.

    Since when is a student loan as crucial as a child or a child’s life as cheap as a student loan?
    I’m insulted that student lenders dare to treat their profits as vital as the support of a child. Student loans are the ONLY loans that will follow you to your grave and must be paid even when you are disabled. Even child support judgements expire after 20 yrs. When middle class students have to pay more than the Bank of America had to pay for their mortgage mess, something is really wrong in our country. What’s wrong with this picture? Student borrowers = 1 trill $ for eternity, Bk Amer = 10 mil $ for 2 yr. Get real PBS – stop pointing to smoke screens and let’s focus on the true problem in student loans that is no protection laws for students, not the tuition

  • Verona

    What’s wrong with this picture? Student borrowers = 1 trill $ for eternity, Bk Amer = 10 mil $ for 2 yr. Get real PBS – stop pointing to smoke screens and let’s focus on the true problem in student loans that is no protection laws for students, not the tuitionshow more .  YOU SAID IT!!!

  • Chuz

    You could say the same about buying a house by obtaining a mortgage. But mortgage companies can’t do to homeowners what student lenders do to student loan borrowers.

  • Vmartita

    I have a job & never had a problem paying my student loans but I had plenty of problems with the lenders changing terms, not providing 1098E forms to the IRS, putting innacurate data in my credit file and other things that if it were my credit card or mortgage company, would not have been able to get away with. Unfortunately, there is NO agency a student loan borrower can go to about such abuses. I own a home, raised a family, run a business without any problem except the inordinate amount of time spent keeping lenders from changing my account  terms. Who sold their soul in Washington for these scummy student loan companies? Madoff was an angel compared to these companies.

  • Rain34

    I have a job & never had a problem paying my student loans but I had plenty of problems with the lenders changing terms, not providing 1098E forms to the IRS, putting innacurate data in my credit file and other things that if it were my credit card or mortgage company, would not have been able to get away with. Unfortunately, there is NO agency a student loan borrower can go to about such abuses. I own a home, raised a family, run a business without any problem except the inordinate amount of time spent keeping lenders from changing my account  terms. Who sold their soul in Washington for these scummy student loan companies? Madoff was an angel compared to these companies.

  • Null0007

    ITS NOT THE TUITION & ITS NOT THE AMOUNT OF LOANS _ IT IS THE LACK OF LAWS TO PROTECT BORROWERS FROM BAD PRACTICES OF THE STUDENT LOAN  LENDERS.

  • Anonymous

    Let’s summarize:
    * the financial lobby has been able to require that student loans may not be resolved via bankruptcy and their appears to be a lack of integrity in their business practices
    * the value proposition of a college degree is waning. This is a time*dollars + economic equation.
    * state colleges, subsidized by state taxes, are not really serving their state constituents but are establishing entrance criteria (eg limits) and price points to meet their operating costs
     
    To break these monopolies college business models and priorities need to change, expedited degree programs need to be established so that a degree can be obtained in a timely fashion (how about centers of excellence tied to local industry to support internships and/or post grad work) and modify the constraints on student loans. The latter could result in increased interest rates based on increased lender risk. There are a handful of existing institutions that have implemented unconventional approaches… it’s time to identify what has worked with these higher learning establishments and start codifying their methods and philosophies as a way forward. Providing alternatives to the institutional monopolies that currently exist will be the only way to break the current dynamics.

  • John

    Did you ever notice Americans can go to Cuba, become a doctor for free?

  • Internetmonster211

    This is sad because America should look out for the students when American students are the ones who can bring this world into a new age.

  • haverwench

    It’s a fair point, but I think the phrasing (“Does taking out large student loans pay off in the end?”) implies that the question is focusing on whether student loans are worth it from a purely financial perspective. Even from the financial viewpoint, having more students go to college may be the best thing for society as a whole–but sadly, it is not in the interests of the individual students themselves. So it’s sort of a prisoner’s dilemma.

  • haverwench

    Boy, that is one successful high school graduate, to be able to earn enough to buy a home by the age of 25! (And obviously that kid is not living anywhere on the East or West coast, either, to be able to pay for a house with “only $40,000″ worth of mortgage debt).

  • RainbowExplorer

    As a highly educated professional woman with three different professional careers, I have, personally, seen EVERY DIRECTION POSSIBLE on this issue of payment of university education.  I WORKED full-time, while attending university full-time, for more than 11 years.  That WORK EXPERIENCE was ESSENTIAL, for my later professional and personal growth and maturity.  However, working FULL-TIME, rather than PART-TIME took a TREMENDOUS TOLL on my health, which I am suffering, to this day!

    What I have observed, over the years, is that students who DO NOT WORK, at least part-time, while attending university, tend to develop poor study habits, work habits, and financial management habits – since their late teens and 20′s end up being an “extended adolescence”, where ALL they have to “worry about” is PLAYING, instead of taking their academic studies SERIOUSLY, gaining much-needed work experience/life experience, and developing the INDEPENDENCE SKILLS that ALL young adults MUST BECOME FULLY INDEPENDENT, in order to be self-sufficient, responsible adult members of our society.

    Those who have their entire university educations funded by student loans, parents/grandparents, and/or the military, tend to never REALLY grow OUT of their “extended adolescence” mentality – so just end up behaving like “adult CHILDREN”, in most of the areas of their lives where they SHOULD be INDEPENDENT!  Thus, I am opposed to providing FREE university educations to ANYONE, except those who were raised in impoverished households, where they have ALREADY faced every possible obstacle, just to get themselves through to graduation from high school!  Those who are living in low income households have ALREADY LEARNED how to survive on very little and to manage with few “luxuries”, in life, unlike college students who were NOT raised in such households!

    I would like to see STUDENT LOANS REPLACED by GREATER MONIES devoted to WORK/STUDY PROGRAMS, along with GRANTS for low income students.  Everyone else already has ENOUGH ADVANTAGES going on in their lives, that they need to WORK part-time, to CONTRIBUTE to their OWN financial well-being and INDEPENDENCE.  That way, the taxpayers of this country won’t be stuck bailing out people with ENORMOUS student debts or having to further subsidize university educations beyond what is currently being provided, via current public university resources. 

    If students want to attend private universities, they need to earn scholarships, work to pay for the additional funding needed, or get their parents to pick up the extra costs.  I believe it is IRRESPONSIBLE for American Taxpayers to be REQUIRED to “pick up the costs of private educations”, at the pre-college, university, graduate, or doctoral levels.  Private educations are a LUXURY – NOT a NECESSITY, for ANYONE!

  • Internetmonster211

         Whell I really think that paying taxes is not the issue because your paying for our future, meaning mine and yours. And if anyone want’s to go to any college lets all support that decision. But on the same token let’s GREATLY lower the cost of college education, so those of us that do pay taxes and Student Loans can afford to do so. but not only for our pockets but for the most valuable reason our future and economy!

  • Walmatrix

    trying

  • Walmatrix

    I am a firm believer of public education. What you have to do is go to  technical school prepare for a small career that is in demand. Something that put you to work and then you go to a community college. Some technical schools transfer the credits hour to your community schools they have a partnership and it works.Also, The only person who can garrantee a job is you.You have to be persistant. I will strongly recommend Stef gray that if she has all that knowledge why she just try to become a geografy teacher. I live in Florida, and I know that they can hire her. New York is a great city, but the cost of living is expensive.

  • Walmatrix

    Yes, I agreee with you schools and the private sector they should do more work/study programs and interships

  • baltobikeboi

    Just found out my 10 years of PhD in sociology will cost me $1200/month for 10 years (at least) with all the likelihood in the world that on my salary of $30,000/year then I’ll probably default on them, default on my house, my car etc because I bothered to try to pay them at all. F-ing mess.

  • Tom W.

    I bought in.. BIG Time! I believed that if you get the education, the jobs will follow freely. This is what I was told by my schools, parents, and society — this was the American Dream, but now it’s more of a nightmare! 

    I cannot get an entry-level job in Architecture, the field I
    earned my Master’s Degree in, which cost $200k ($130k federal + $70k private)
    in loans + interest. Nor would any such job, remotely earn enough of a salary
    to pay for the loan payments. Architecture is at the highest rate of unemployment of EVERY occupation, thanks to the crooked Big Banks causing the housing collapse. Unscrupulously run Banks and poorly run corporations, and greedy CEO’s get fat
    bailout checks from OUR TAX dollars, BUT a Student trying to earn an education
    and make a decent living while contributing to society is ineligible for
    similar assistance! This is simply unfair to put it lightly. Private loans need to have more forgiveness and bankruptcy options! 

     

    The education system needs to be held accountable too.
    Schools make false, or misleading, promises on the careers that our education
    is supposed to afford us. The education we get, and its exorbitant
    costs/interest rates, do not match the job openings and expected salaries. I
    was led to believe my Master degree will lead to a wonderful and profitable
    career. This may have worked out for some people, but not for me, and the jobs
    I have got DO NOT nearly cover my payments. Now, I’m unemployed for a year,
    ineligible for unemployment (because I’m a graduate), with no prospects in
    sight despite applying for ALL kinds of jobs.

     

    Private lenders are especially predatory, deliberately
    confusing, and there’s no relief from varied interest rates and payments you
    can’t afford – even if they’re minimum payments. Unfortunately, most loan
    forgiveness programs, like Peace Corp’s, no longer exist. So, even if you want
    to contribute to society by volunteering you still can’t earn any relief from
    your loans. At least, the IBR program has helped me keep my head above water
    thankfully, but it would be much better if I could apply my private loans into
    the IBR program as well.

     

    These were my choices; this is my fault, but people make
    mistakes. Please give some relief to grads that want to get out from under this
    cloud of oppressive debt and get back in the work force to help this country
    grow.

  • Bunny

    I never got to graduate wasn’t afforded the opportunity. All because my dad died unexpected on Thanksgiving in 2008 and because we couldn’t afford for me to go to school. I’m debt for $200k federal and private and all of my loans are default. What people don’t mention when you don’t graduate, not only do you owe your loans, you owe the school. I tried trade schools and due to public transportation cut backs I was put out in the end.

    Now I’ve been applying to all kinds of jobs. Fast food, restaurants, department stores–everything!! I even tried to work as a housekeeper or nanny. I’ve been ignored, I’m not lucky enough to get a interview. Two places told me NO: 1st place said the position was filled by someone more qualified. 2nd place said that since I didn’t have reliable transportation to go to a job at 4am I couldn’t apply. Most places have told me I need a degree or need to go back to school. I don’t have the money and I’m no longer eligible to receive financial aid whether the loans are paid off today or not. The rest tell me I need a degree and 3-10 years experience.

    It’s ridiculous!! I’m a 25 year old woman and I can’t get a break. Not even a job on just my high school diploma. I even tried other state universities and they refused to accept the 80 credits I accumulated. They told me I needed to start over from the beginning.

    It’s terrible! I never thought my life would turn out this way. I never thought I’d waste 4 years of my life for nothing. I studied and worked hard I didn’t even go to the stupid parties or school activities, didn’t participate in extra curricular activities because school was more important.

    I was told that’s how you become a successful woman. You go to college because marriage and all that other stuff will come later. Well it didn’t. I wanted I be a mom someday but that’s just as impossible as paying off these dreaded loans. So what does a person do when they’re life is basically wasted and ruined. But people tell me I’m not “applying” myself and to accept a job. But if they won’t hire you due to debt how can anybody survive in this crooked world.

    It’s quite depressing actually and I’m very unhappy :(

  • Grounded Astronaut

     The problem is that even if you work for all those years while going to school you still get screwed.For example, I have a masters degree and 15 years of retail management. i worked while I was in school and here I am unable to go into an entry level position because I am over qualified but unable to get into a management position because they are rarely hiring.I have to omit some of my education and some of my work experience to get even a reply.

    Recap:

      28yrs old , masters in public administration, bachelors in business administration, 15 yrs management experience and unemployed!

  • RainbowExplorer

    The last time I returned to university, it was to become an elementary teacher. One of the first courses I took was titled “Philosophy In Education”. It was one of the most relevant classes I’ve ever taken. The focus was on the subject of “what is the ‘value’ of education”.

    Is education merely of “value”, if it lands an individual a high paying job? Does it provide “value” if it enables an individual to grow, become more self-reliant, or gain broader perspectives on self and the world? What is the purpose of education? Is it solely to serve as a job conduit, as worker preparation, in the view of corporate executives? Is it merely a way of transmitting “essentials” or is it a way of enlightening and expanding self?

    Having known thousands of both college educated and college uneducated individuals, my belief is that a four year college education provides the latter benefit. In our modern world, there’s no way to understand the issues we are coping with, in their layers of complexity, without having a college education – without learning to ask and answer questions at a high level. High school education is inadequate anymore (for most people, IMHO), as it doesn’t teach the types of thinking and questioning skills that are taught at the college level.

    So much of the gullibility of a large portion of our elders, as well as younger adults, often has more to do with their level of education, rather than their age. Approaching living with a “life-long learning” mentality helps to keep one current on relevant issues and skills. Those are attitudes TAUGHT at the college level.

    So, are college loans worth it? I believe they are, on less obvious levels than, merely, the financial one. The people one meets attending universities are generally thinking and questioning on different levels, than those who do not attend them. They’re more open to new and different ideas, willing to explore and discuss, than those who do not attend.

    Those skills, attitudes, and abilities enable them to operate their entire lives in different ways from those who do not them. It translates into better self-care/other-care, wiser use of opportunities and resources, and greater likelihood of maintaining an active learning approach towards life. The ripple effects of having a bachelors degree (or beyond), go far beyond one’s job or career pursuits. They form a more well-rounded person, who’s better equipped to maneuver through the complexities of modern life, which benefits us all!

    This is why State Universities need to be more highly subsidized, by all levels of government, than they currently are. Ideally, community colleges could return to being free, as they once were in California. The final two years would be financially manageable, if they were more heavily subsidized by our citizens, as a whole (especially the gazillionaires, who have gotten RICH off of the skills and knowledge of enormous numbers of public university graduates)!

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    I NEVER THINK I WILL SUCCEED IN GETTING A LOAN FROM THE INTERNET Good day, My Friends be very carefull, I am Mrs Anni Jannet,an American who base in the United Kingdom, i am so confidence to say that one’s in my life time i can experience legitimacy in loan company on the Internet world, if i was directed by somebody else to this company, i wouldn’t have written them because i have been fooled several times by online loan firm on the Internet and i decided stay off applying for loan online until a time came when i was having financial problem due to the predicament i had in my place of work that leads to my sack off in my place of work and i have nobody to run to, my credit was very low, my rent was approaching it expiring dates and my kids have to been in school but due to my ex-sense spending before i got sack off from place of work i have nothing solve all this problem. I have no other option than to come online looking for online loan firm that will help me out of my financial problem and i came across a loan firm and i was scammed of $5000USD in my attempt of obtaining a loan from them and i almost committed suicide and i ask my self is this the end of my life because i am a dieing mother of three kids to take care of, where will i get money to finance their education and pay my bills? all this are the questions that kept running inside my mind and became frustrated in the process of doing that and a words of encouragement came into me instantly saying it is not over yet, keep trying and you will definitely got in touch with your helper very soon and i stood up and said i will give this a last try and if nothing happens that means there is no hope for me any longer. And i went online that very moment and i came across a post by one (Mrs Christiana Douglass) saying that she has never seen a real loan firm like MR Stenphen Mooner LOAN COMPANY and instantly i consulted the loan firm by the email which she place on the post and in that same day i got response from the manager (Stenphen Mooner) and he forward to me all the Rules and Regulations that is guiding the company which will enable me to obtain the loan from them and i ask him how long will it take me to finish the process of my loan because i am planning of getting into business after i lost my job and he said it will take us three to four days if i am fast in replying their message. I ask him, hope i am not going to send any money to them because i was told here in my country that i shouldn’t send any money in getting a loan and he replied by saying that it surprise him when i said that because their is no loan firm online who will render service to a loan seeker without him/her paying anything upfront. It sound very hurt to his hearing and he took it as a pain and explained everything to me and when i have a rethink about it i discovered it was true and that was were those false loan firm took advantage in defrauding people of their had earn money and he gave me his words that i should go on with them and he will took me by surprise that they are truly for real and i went on and apply for a business loan of $200,000.00 USD for the duration of 10years and i paid all the charges that are needed to be paid and like he said he is going to surprise me, that was what he did, it was then i knew that there are still real loan company on the internet otherwise i wouldn’t have known. here is the consultation address:stenphenmoonerloanoffer007@gmail.com,if you want to consult them for more information

    Thanks

    Mrs Anni Jannet

  • frank lewis

    HOLY ANGELS CATHOLIC CHURCH LOAN FINANCE FIRM

    HEAD OFFICE–WICKER LANE, HALE BARNS, CHESHIRE WA15 0HF UNITED KINGDOM

    EMAIL ADDRESS –[holyangelsloanfirm@gmail.com]

    =============================================================================

    Welcome to HOLY ANGELS CATHOLIC CHURCH LOAN FINANCE FIRM, This is a holy

    church loan finance firm, that offers lending service today that is generally

    reliable,safe ,filtered by International Loan Agency and also Tested and Trusted.

    We give out loans for Any purposes

  • Anonymous

    Hello
    Do you need an urgent loan to pay debt, pay bills, solve problems and financial assistance to support your business. if yes contact us via email realpersonalfinanceloan@live.com

  • Richard

    Welcome to richardloan Investment Limited Company
    (A Personalised Service for All Your Financial Needs)
    We, richardloan Investment Limited Company Providers offers loan at a very low interest rate of
    3%, we offer Personal loans, Debt Consolidation Loan, Venture Capital, Business Loan, Educational
    Loan, Home Loan, and Loan for any reason and urgent needs!. with a maximum duration of 30 years.
    Have you been turned down by your bank? Do you have bad credit? Do you have unpaid bills? Are
    you in debt? Do you need to set up a business? Worry no more as we are here to offer you a low
    interest loan. Our loan ranges from $5,000-USD (Five Thousand US dollars) to
    $50, 000,000.00. (Fifty Million US dollars). We also lend in USA DOLLARS EURO and POUNDS !!

    If you are interested do not hesitate to contact us with information’s below by Email:
    richardloan69@gmail.com

    1. Your Full names:_______
    2. Contact address:_______
    3. Country Of Residence:______
    4. Loan Amount Required:________
    5. Duration:_____
    6. Gender:_____
    7. Occupation:________
    8. Monthly Income:_______
    9. Date Of Birth:________
    10.Telephone Number:__________

    Yours In Service,
    Mr, richard.
    Director Of Operation
    richardloan Investment Limited Company
    richardloan69@gmail.com