Student loan debt continues to grow

[conraddobler]

http://www.collegescholarships.org/research/student-loans/

Yet another example of making something affordable and yet, well not IMO.

IMO there is no better example of how government getting involved can truly fubar a situation beyond recognition.

I would never steer my child into accruing those kind of outlandish debts that are almost impossible to get out of and really I fail to see much difference between loading up a kid with debt and pimping them out, all done with the approval of our leaders.

It's a rotten shame IMO.

I fully realize that in some cases it does work, ie it can be paid back but there are almost no safeguards in the system, if you want to rack up 200k of debt as an art major, they won't stop you and they should, for the love of ....

Kids are not savy enough to be trusted with those kinds of numbers and they never would be if it were not for the government backing of it, no one in their right mind would lend that much.

Someone has to put a paper and pencil to it and say no more.

 

[Duckjake]

http://www.collegescholarships.org/research/student-loans/

Yet another example of making something affordable and yet, well not IMO.

IMO there is no better example of how government getting involved can truly fubar a situation beyond recognition.

I would never steer my child into accruing those kind of outlandish debts that are almost impossible to get out of and really I fail to see much difference between loading up a kid with debt and pimping them out, all done with the approval of our leaders.

It's a rotten shame IMO.

I fully realize that in some cases it does work, ie it can be paid back but there are almost no safeguards in the system, if you want to rack up 200k of debt as an art major, they won't stop you and they should, for the love of ....

Kids are not savy enough to be trusted with those kinds of numbers and they never would be if it were not for the government backing of it, no one in their right mind would lend that much.

Someone has to put a paper and pencil to it and say no more.

That looks to me like someone trying to scare kids and parents into going to them so they can ""save" them from the pitfalls of student loans. For a hefty fee of course. Sort of like the debt relief cons.

 

[The Commish]

Took on my first student loan this year for my MBA program at ASU. Being in finance I definitely did my homework prior to making such a committment, but for my purposes it makes sense. Fortunately I did not need to go the private route and was able to fund my education through the gov't.

Unfortunately the problem lies with students taking on loans from degree mills like University of Phoenix or for degrees that are essentially worthless (ie Art majors). Many students don't research their degree path and do a simple cost-benefit analysis. This is a result of the lack of financial education/understanding by a majority of Americans (and those who prey on these individuals).

In some ways this all can be directly tied into the cost of education increase over the past few decades. The rise, whether people want to accept it or not, is a result government's involvement in making education more "accessible" by guarenteeing student loans. This is just one example how the system gets completely screwed up with Uncle Sam's attempt to manipulate a free market.

 

[Duckjake]

Unfortunately the problem lies with students taking on loans from degree mills like University of Phoenix or for degrees that are essentially worthless (ie Art majors). Many students don't research their degree path and do a simple cost-benefit analysis. This is a result of the lack of financial education/understanding by a majority of Americans (and those who prey on these individuals).

Those guys are after Pell Grant money. Or they were. I think the Feds have cracked down on those operations.