Hey Soy Boy, Deep State, China Paid, Antifa Libz...

[Dill]

(02-22-2021, 05:00 PM)BmorePat87 Wrote: I don't expect anyone to pay my debts now, but the idea that children should understand the consequences of this shitty system that was built and pushed on them is unrealistic.

One problem with college loans over the last few decades has been the increasing degree to which lenders (with collusion of colleges in many cases) have acted like credit card companies, working out innovative ways to lock people into a cycle of perpetual payment. So it's no surprise that 18-19 year olds are a prime target. That was one motivation for the HCER Act.

And college degrees are still the entry ticket to most good paying jobs, if the data on correlation between lifetime earnings and education are to be trusted. That a degree is no guarantee of a job doesn't change that.

If the victims are to be believed, many are making monthly payments on interest which don't drive down the principle at all. We are talking about massive amounts, some in the six-figure range, and the debtors cannot get out of government loans by declaring bankruptcy.

The first and biggest problem is still, I think, why tuition has become so high. The PASSHE system is retrenching right now, because tuition (only with other income sources) cannot cover operations and salaries at many institutions. IUP just lost its journalism dept. 74 tenured faculty have been canned, and depts. and programs merged into strange amalgams (e.g. college of fine arts and the already previously merged colleges of humanities and social sciences). The new university is going to specialize in STEM.