The student loan crisis is a myth?

[Greezy]

One of the more miserable summers was hauling hay--back when they were square bales we had to throw on the trailer and handstack. Now its all round bales and you use a tractor to stack. Course, I had a nice set of muscles back then from throwing those bales.

my aunt owns a farm with 20 horses. i use to go there during the summer and help her out. one morning i was in the loft trowing bales of hay and i hit one of the beams above my head shaking the whole building..well i woke up about 300 hundred bee's and they where pissed. i pulled so many of those damn barbs out of my body that day. i'm pretty sure i'm immune to snake venom along with bee's and scorpions.

[telerion]

Are state schools charging that much?

Another thing is the cost benefit ratio: how can one justify 100 grand college degree to get a 40 grand job? Once again I wish trade schools were more active. We need more truck drivers and mechanics and less etheral foo foo degrees.

There's some built in modesty here by Wahoo. It should be pointed out that his in-state school is perennially ranked either #1 or #2 in the nation for public universities. That **** is expensive.

Plus the ultra Red state legislature doesn't give a flying **** about higher education, so they don't fund it well.

[telerion]

Additionally, I'd expect the difference in wages between high school/college graduates to widen as their respective careers progress.

This is the case. The average HS-only person's wage is relatively flat over their lifetime. The college grad delays earning for four years but has a much steeper slope in their wage profile over lifetime.[/quote]

Cbear has a point that we do need skilled labor positions too. There may be some people who struggle through a 4-year college that would be better served to learn a trade. That said, there's a reason why rich parents pay for their kids to go to good 4-year schools. A college degree earns a sizable skill premium (on average). Not only can you work into middle and senior management, but a BA is necessary for higher degrees. The highest earning fields straight out of undergrad are various engineering majors and economics (all the Wall Street bitches). But if you go out past BA other areas have earners too (bio major becomes a doctor or a PhD for pharmaceuticals, philosophy major goes to a good law school, soc/psych become therapists, others become dentists, and art student go on to . . . well never mind them).

[Cbear]

Community college? There's no 4 year institutions charging only 4k.

My kid is going to bust his ass in high school and get college paid for.

State college and just scanning their site it was about 4-5 k for 12 hours semester tuition/books. No living expenses.

[The_Splatoon]

Community college? There's no 4 year institutions charging only 4k.

My kid is going to bust his ass in high school and get college paid for.

It's all about those AP credits. Stock up enough of those, and you can potentially shave off a semester (or more likely give yourself some wiggle room to experiment with a few career paths). Nothing like wasting money on a super-senior victory lap because you had to spend freshman year grinding out 101s.

[thelegend]

How do you pay student loans back and who are the loans originally from?

Over here we get student loans from the government and hey are automatically deducted from your pay when you start earning. If you never earn (eg unemployed forever) then you never pay back. How much you pay back each month is dependant on ow much you earn, and it increases automatically in increments. I had about 10k and I paid it back at £50 a month. It's paid off now

[19nate79]

It's all about those AP credits. Stock up enough of those, and you can potentially shave off a semester (or more likely give yourself some wiggle room to experiment with a few career paths). Nothing like wasting money on a super-senior victory lap because you had to spend freshman year grinding out 101s.

i took a bunch of clep test. each college accepts different ones, but i skipped almost 2 years doing that

[telerion]

How do you pay student loans back and who are the loans originally from?

To answer the second part first, it used to be that there were different types of federal loans (e.g., interest paid by govt while in school or not) as well as student loans from private banks. The latter types of loans were guaranteed by the govt so that banks would lend the money at more affordable rates of interest.

Now the federal govt has gotten rid of the guarantees and student loans are made through the federal government.

As for how one pays back, some old student loan companies (like SallieMae) have continued on as servicers for federal loans. Unless you default (no bankruptcy forgiveness for student loans), it is up to you how you pay. I have mine electronically withdrawn once a month.

It used to be that it didn't matter how much you made after school, although because of guarantees banks were typically willing to restructure things to help the debtor pay. Now the govt has different payment options, which prevents student loan payments from exceeding some fraction of your income (monthly) I believe. Also there's something about if you stay in good standing for like 20 years or something they forgive the remainder (may be for income based program, not sure).

[split decision]

That's right you Yankees, come to Canada and get an affordable quality education!

http://usnews.nbcnews.com/_news/2013...e-degrees?lite

[telerion]

That's right you Yankees, come to Canada and get an affordable quality education!

http://usnews.nbcnews.com/_news/2013...e-degrees?lite

Yeah, generous Canadian taxpayers! Foot my kid's education so she can come right back here and use her degree to make big bucks in the US.

Of course, we'll have to scrub her of the granola, multicultural socialism and reinstall our xenophobic, cultural imperialism before she can truly reintegrate as a productive member of our beautiful society.