Student Loan Debt Now Surpasses Credit Card and Auto Loan Debt

If you can't make per year what you spent to go to school (within a year of graduating), you're upside down starting out.

It wasn't like that when I went to school. You'd spend 6K to get through (partying included) and the majority could find an 18K job.

Obviously that has changed... I'd like to see a 50 yr. tracking graph on that...

The economy has sucked since 9/11. Or should I say job market...

A truely robust economy would solve a lot of debt and gov't. spending problems...

Will it ever change with job cutting as the #1 way corporations function these days?

Each subsequent generation has less of a chance at the 'American Dream'. We peaked after WW ll after the rest of the industrialized world was bombed away.

Now, we don't seem to make anything here anymore except debt... It's ugly.

Darth Vapour said:

with out a 4 year degree ?? from what i have been seeing from friends that being over qualified does not land you a job either

Click to expand...

Kushy Fortune 500 where I worked treated me downright cruel because I had no 4 year degree as I was 'acquired'.. To the point leadership would even try to embarrass me in front of my peers. I always knew it would be problematic if I chose to leave but wish to remain somewhere as a professional..I was pulling in well over 100k most years.

That will never happen again, it's over for me.

tangerinegreen555 said:

If you can't make per year what you spent to go to school (within a year of graduating), you're upside down starting out.

It wasn't like that when I went to school. You'd spend 6K to get through (partying included) and the majority could find an 18K job.

Obviously that has changed... I'd like to see a 50 yr. tracking graph on that...

The economy has sucked since 9/11. Or should I say job market...

A truely robust economy would solve a lot of debt and gov't. spending problems...

Will it ever change with job cutting as the #1 way corporations function these days?

Each subsequent generation has less of a chance at the 'American Dream'. We peaked after WW ll after the rest of the industrialized world was bombed away.

Now, we don't seem to make anything here anymore except debt... It's ugly.

Click to expand...

All good points.

Right now though, we have a pie that will feed 100, but 150 showed to eat..we need to get those 50 to vote correctly..they are taking food from our mouths as they vote republican.

We have many large profitable companies that pay no taxes leaving it to us.

A living wage is 7.25/hr.

The don't want to pay more; they don't want to pay taxes.

They sound pretty un-American to me.

key is to go to college and not get a loan. its not hard

schuylaar said:

The don't want to pay more; they don't want to pay taxes.

They sound pretty un-American to me.

Click to expand...

They ARE un-American. They just can't see it through greedy eyes on their way to the Cayman Islands bank convention.

Nothing worse than a whining CEO making 46 million...crying about the high tax rate he's fucking legally evading.

tangerinegreen555 said:

They ARE un-American. They just can't see it through greedy eyes on their way to the Cayman Islands bank convention.

Nothing worse than a whining CEO making 46 million...crying about the high tax rate he's fucking legally evading.

Click to expand...

god1 said:

What happened to the traditional approach, of "work" your way through school? Postpone what you can't afford until you've saved up enough to make it work. Apply for internships, use your friggin noodle and think it through, come up with a plan.

Education is an investment in ones personal future. The cost is the cost, if it doesn't pencil out don't get involved. It's a user be wary proposition. Use your friggin noodle.

Stupidity is not a virtue; some people are just dumb as shit. Our society has way too much compassion for idiots. The individual makes the choice, their friggin problem.

Click to expand...

did you work a minimum wage job to pay a 5 figure tuition? what was it like in the 50's??

god1 said:

What happened to the traditional approach, of "work" your way through school?

Click to expand...

The cost of an education surpassed the ability to fund it through traditional work, much less a seasonal job

god1 said:

Postpone what you can't afford until you've saved up enough to make it work.

Click to expand...

Do you realize the amount of time someone would have to "save up" to be able to afford a college education? People are not not getting educated because they'd rather have that new XBOX or Playstation... they're not getting educated because they can't afford the tuition..

god1 said:

Apply for internships, use your friggin noodle and think it through, come up with a plan.

Click to expand...

You mean all of those unpaid internships, aka: slave labor? How do you suggest someone with a rent/mortgage bill works without receiving a paycheck to pay for said bills?

god1 said:

Education is an investment in ones personal future. The cost is the cost, if it doesn't pencil out don't get involved. It's a user be wary proposition. Use your friggin noodle.

Click to expand...

Bullshit. If that was the case, student debt would be expugnable through bankruptcy. Education is and always has been a measure of economic mobility. "If it doesn't pencil out" blame the fuckin' bank teller who approved the loan for the education, not the student who will now be faced with insurmountable economic barriers leaving them with no available option to become a productive member of society.

god1 said:

The individual makes the choice, their friggin problem.

Click to expand...

Shallow, ignorant, short sighted view. Where do you think that person goes when all else fails, dumbass? Straight to the government for relief - as they should. The failure of the education system falls on the taxpayers, so for every student you hope fails, you end up paying for their relief. Such a smart individual you must be, I can already tell!

Great post Padawan! That was some dumb and very ignorant dialogue you had to address

Not only were those great, but all the posts you quoted completely ignore outside systems.

An 18 year old in 2015 has been told their entire lives that they need to get a college degree to make anything of themselves. Then they are faced with getting a loan from a system as old as civilization itself, with entire teams of fully trained adults who's job is to figure out how to profit/exploit those 18 year olds as much as possible. Couple that with colleges that spend more time convincing people to apply as they do educating and gleefully walks them through signing up for a crippling level of debt without offering any assurances (and often outright lying about job placement numbers for their graduates) that they will be able to work in that field afterward. Then couple *that* with the inability to discharge the debt through bankruptcy, and you have a sure fire recipe for millions in so much debt they will never climb out.

But yes, let's keep harping on "personal responsibilities" as if that's the problem. Any day now it will start to work, we promise!

Thank you mr B.

Padawanbater2 said:

The cost of an education surpassed the ability to fund it through traditional work, much less a seasonal job

Do you realize the amount of time someone would have to "save up" to be able to afford a college education? People are not not getting educated because they'd rather have that new XBOX or Playstation... they're not getting educated because they can't afford the tuition..

You mean all of those unpaid internships, aka: slave labor? How do you suggest someone with a rent/mortgage bill works without receiving a paycheck to pay for said bills?

Bullshit. If that was the case, student debt would be expugnable through bankruptcy. Education is and always has been a measure of economic mobility. "If it doesn't pencil out" blame the fuckin' bank teller who approved the loan for the education, not the student who will now be faced with insurmountable economic barriers leaving them with no available option to become a productive member of society.

Shallow, ignorant, short sighted view. Where do you think that person goes when all else fails, dumbass? Straight to the government for relief - as they should. The failure of the education system falls on the taxpayers, so for every student you hope fails, you end up paying for their relief. Such a smart individual you must be, I can already tell!

Click to expand...

Thank you for putting the words to print so eloquently..you're brilliant, Pada..I look forward to your leadership when I'm old and gray..and can say 'I knew him when..'

tangerinegreen555 said:

I went to a state school for $600 TOTAL costs for everything per semester in the early '70's.

60K for 4 years at the same place today and it's a cheaper school...

College costs are ridiculous...economy hasn't been robust since the '90's...all adds up the college loan debt...

Click to expand...

I'm gonna have to disagree with. The economy is smoking hot and we're all so spoiled it's ridiculous. In the 90's we had mostly dial-up for pcs which meant that all the things we do today were unheard of. Now people have smart phones, broad band most places people gather, nice dependable new vehicles that last 150k miles without much fuss. Flat screen HD tvs, almost constant line of communications, eBay, Amazon, Applebee's, you name it. Who really cares about the imaginary digital promissory notes floating around in some database somewhere on the planet.

One thing. I think community college should be free. I mean 100% free funded by federal and state dollars. Why? Because continuing education is an almost necessity anymore for people with ambition. Community colleges offer up certificate programs and associates degrees that will give you some amount of skill to get a good job. And, for those seeking higher opportunity, they can get some of the curriculum done in community or junior college and those credit hours may be transferable to a University. Then the student can look to get a higher education and of course have to foot some of the bill for such. And for those that don't desire any post high school education? There are options. Military, fast food, assembly, retail. Of course they will have to work for less pay. That's how it works and some are fine with that. Some think they are "obligated" to have fortune without effort. That's just the way it is.

It's just imaginary digital currency being transferred back and forth within the economy off things. Seems like poor people whine cause they never have enough. Rich people whine cause the poor people get too much with less effort. Hey. I'm sorry, but what I see is a socialist nation.

One thing I believe in is that medical insurance should be an entitlement. For those of you who may disagree, well it's already being done. If you show up at a federally funded hospital, they can't turn you down. People have babies every day without medical. How are the hospitals going to recoup their funds? Oh wait. Obama care was supposed to fix all that. Well. You can squeeze blood from a turnip.

I dunno man. I'm all about the peace and love. Good day.

Padawanbater2 said:

The cost of an education surpassed the ability to fund it through traditional work, much less a seasonal job

Do you realize the amount of time someone would have to "save up" to be able to afford a college education? People are not not getting educated because they'd rather have that new XBOX or Playstation... they're not getting educated because they can't afford the tuition..

You mean all of those unpaid internships, aka: slave labor? How do you suggest someone with a rent/mortgage bill works without receiving a paycheck to pay for said bills?

Bullshit. If that was the case, student debt would be expugnable through bankruptcy. Education is and always has been a measure of economic mobility. "If it doesn't pencil out" blame the fuckin' bank teller who approved the loan for the education, not the student who will now be faced with insurmountable economic barriers leaving them with no available option to become a productive member of society.

Shallow, ignorant, short sighted view. Where do you think that person goes when all else fails, dumbass? Straight to the government for relief - as they should. The failure of the education system falls on the taxpayers, so for every student you hope fails, you end up paying for their relief. Such a smart individual you must be, I can already tell!

Click to expand...

Your response is a grand example of why you're eating dog food and your life sucks.

You can't think and want others to figure it out for you.

Don't you live in Calif? They have one of the best bang for the buck state university systems. It was challenging when I worked my way through, but I did it for both my undergrad and post.

Stupid people will never figure it out. Don't bother trying, school won't help you, life is beyond you. You are just a poor pheno expression of human genetics.

Cry some more, you have many like minded mental midgets that'll support you here. Life is tough, those with a working bean will do fine, the rest can eat dog food.

Dog food or steak, your choice buddy.

god1 said:

Your response is a grand example of why you're eating dog food and your life sucks.

You can't think and want others to figure it out for you.

Don't you live in Calif? They have one of the best bang for the buck state university systems. It was challenging when I worked my way through, but I did it for both my undergrad and post.

Stupid people will never figure it out. Don't bother trying, school won't help you, life is beyond you. You are just a poor pheno expression of human genetics.

Cry some more, you have many like minded mental midgets that'll support you here. Life is tough, those with a working bean will do fine, the rest can eat dog food.

Dog food or steak, your choice buddy.

Click to expand...

LOL dude. That was some harsh words. I mean. Even the rich are entitled to have more for less. We are all such a bunch of whiny losers.

god1 said:

Your response is a grand example of why you're eating dog food and your life sucks.

Click to expand...

You're fantastically ignorant with your comments. Truly. Let's hope I never meet you

Rrog said:

You're fantastically ignorant with your comments. Truly. Let's hope I never meet you

Click to expand...

So I asked ex wife's nephew what career he has chosen after high school. He's 17. Dude replied he wanted to be a video game tester. The guy that plays the games to expose glitches. I'm like. WTF? lmao. Hey there are winners and losers in the world. I am admittedly just middle of the road. I hope I never meet you tho bro. Unless you LEARN to embrace the peace and love. Give the people all the stuff they want I say. But I'm a lil bit cray. So.

Who the fuck says "fantastically ignorant"? WTF does that even mean.

GrowUrOwnDank said:

So I asked ex wife's nephew what career he has chosen after high school. He's 17. Dude replied he wanted to be a video game tester. The guy that plays the games to expose glitches. I'm like. WTF? lmao.

Click to expand...

Game testing is a legitimate career. Most larger studios have an in-house testing department, and all publishers have their own as well. It's an above average salary for the USA.

But that really shouldn't matter, we should be encouraging teenagers to pursue their passions, much like the rest of the world, rather than forcing them to do some cost effectiveness and then spend 4 years studying something they have no interest in but looks good on paper for earning potential. The USA has the money and wherewithal for someone to actually want to study under-water basket weaving (which is always the tired canard trotted out as if more than 5 people are ever studying something so esoteric) or ancient Shakespeare, welding, food services, or what have you.

Countries like Germany, Canada, Iceland, and many others have normal higher education costs when they aren't outright paid for like in most of Scandinavia, and rather than causing a drain on the economy, it's allowed them to out compete in many areas because their populace is educated in a variety of areas.

What kind of bland, boring world would we live in if every person went into STEM majors?

MistrBurrberry said:

Game testing is a legitimate career. Most larger studios have an in-house testing department, and all publishers have their own as well. It's an above average salary for the USA.

But that really shouldn't matter, we should be encouraging teenagers to pursue their passions, much like the rest of the world, rather than forcing them to do some cost effectiveness and then spend 4 years studying something they have no interest in but looks good on paper for earning potential. The USA has the money and wherewithal for someone to actually want to study under-water basket weaving (which is always the tired canard trotted out as if more than 5 people are ever studying something so esoteric) or ancient Shakespeare, welding, food services, or what have you.

Countries like Germany, Canada, Iceland, and many others have normal higher education costs when they aren't outright paid for like in most of Scandinavia, and rather than causing a drain on the economy, it's allowed them to out compete in many areas because their populace is educated in a variety of areas.

What kind of bland, boring world would we live in if every person went into STEM majors?

Click to expand...

Yeah lol. I know. Just saying man. It's like find out what in your interests is an in demand career. lol. Often peeps can't get jobs in the field they chose to be educated in because EVERYONE wants that job. lol. Just saying man. I remember when CSI first came on tv. Everybody got a degree in criminal justice to become a CSI dude. There working at Starbucks.

god1 said:

What happened to the traditional approach, of "work" your way through school? Postpone what you can't afford until you've saved up enough to make it work. Apply for internships, use your friggin noodle and think it through, come up with a plan.

Education is an investment in ones personal future. The cost is the cost, if it doesn't pencil out don't get involved. It's a user be wary proposition. Use your friggin noodle.

Stupidity is not a virtue; some people are just dumb as shit. Our society has way too much compassion for idiots. The individual makes the choice, their friggin problem.

Click to expand...

Great sentiment; but the math doesn't work anymore. Wages are too low- to say nothing of employers exploiting students as part time workers. Costs are too high.

It used to be okay, but it's been twenty years since then.