What kind of society is our student-loan mess producing?

[kpete]

"College graduates who borrowed for bachelor’s degrees granted in 2012 have an average student loan debt of $29,400, the highest average student loan debt on record."
-- finding of the Institute for College Access and
Success, quoted by Allison Kilkenny
- See more at: http://downwithtyranny.blogspot.com/#sthash.wtprnBLp.dpuf


The graduates of 2012 left school and entered repayment at a time of high unemployment. In many ways, these graduates were hit from both sides. They went to college during a recession when their family’s ability to pay for college was likely reduced. Now they are graduating from college and may be experiencing substantial challenges getting a job to repay the loans. - See more at: http://downwithtyranny.blogspot.com/#sthash.wtprnBLp.dpuf





Even if you are able to get a good job, it means that if you're graduating with $30,000 or more in debt, that means it's going to be a long time before you get rid of that debt. It makes it harder for you to buy a house harder to start a business. - See more at: http://downwithtyranny.blogspot.com/#sthash.wtprnBLp.dpuf

More ominously, at every point when you have to make a life choice like how you actually make a living, can you ever afford to make a choice in favor of anything but the highest cash return? If we had overwhelming numbers of our talented young people making career or job decisions this way, why kind of society would we have? Or should I say, what kind of society do we have? And, says Allison, the student-debt situation seems much likelier to get worse than better.

- See more at: http://downwithtyranny.blogspot.com/#sthash.wtprnBLp.dpuf




LOTS MORE HERE TOO:
http://www.nationofchange.org/2012-grads-have-highest-ever-student-debt-1388589298

[KurtNYC]

1. College is a debt factory

Perhaps colleges should only get a percentage of what graduates make in the first ten years after graduating. That would put the true value of that diploma into the equation.

College is an archaic system. Why are we forcing every kid to use high school to prep for college instead of for a job?

[Igel]

3. We're not.

A lot of schools have vocational and career classes. I know kids learning welding and how to be an auto mechanic, kids who are well along to mastering their instruments or graphic design, who graduate knowing how to be a bookkeeper or even well along to becoming a vet's assistant.

Some kids in their senior year do internships at pharmacies.

This isn't new. My high school class valedictorian back in the dark ages when I was in high school took no academic classes, but he graduated having finished his "career" as an apprentice machinist and was ready to move on to journeyman.

At the same time, I know of some schools pushing to make more and more kids college ready because the kids can easily become college ready: They have the academic chops, they have the test scores, they have the background knowledge without a lot of remediation, yet they lack the drive and motivation.

I like the system I saw abroad. In countries that I've seen described as not having high-stakes testing, at the year of year 9 or 10 they have a test. On the basis of the test and teacher recommendations they are put into academic, technical, or vocational schools. You want to go to a 4-year college for anything but engineering, you want to be "academic." Mechanics and engineers go to technical schools. Vocational schools teach you to cut hair, use point-of-sale systems, and wait tables. (No "high-stakes testing." Right.) You *can* transfer later, but it's difficult. Very difficult. Few succeed.

One reason I like it is that in 8th and 9th grades a lot of students see graduation far away and slump and this is a good kick in the pants. I also like it because it means for most of high school you're not trying to get students who want to work on cars to read Chaucer or learn all about VSEPR. (Don't like it because it locks people in at an early age.)

[CFLDem]

2. A society of slaves

who eagerly run in their hamster wheel for fear of the student debt boogeyman.

Which is also the same society that spends their most crucial years making the student loan cartels wealthier instead of buying houses and cars and having families.

[Wounded Bear]

4. Much like in medicine...

We've been replacing our educational system with a for profit education industry.

The outcome for the students is secondary to the profit motive for the investors.

[MisterP]

6. I know--let's have everyone over 26 take on $35,000 in school debt, whether doctor or carpenter

or welfare family: if you're under a certain limit there'll be a subsidy, don't worry!

and only Baggers doubt the BloombergTeaches success stories, because it'll DESTROY the GOPNazis that pay them!

[gerogie2]

5. Oregon is trying a flat tax for education

I think we could just have a lifetime federal income tax on those that use government funds to attend a public college. Then the former student won't have to worry about high monthly repayments. We could just tax them at 8% of ALL income until the age of 65. If they end up at Mcdonalds with a worthless degree he or she would not have to worry about high repayment fees.

We also need to make sure that every student that attends a public college is capable of doing the work. A student that gets a D in a class would no longer be allowed to attend college on public money.

Private colleges should no longer be allowed to use government funds or loans to provide an education to students. They should use the private loan market to provide loans to students. The private sector and for profit colleges should fund themselves.