News Sep 10, 2012 at 8:51 am

Comments

1
yes, as an employer I'd be quick to hire those students who were smart enough to (a) overborrow, with no plan to pay back, (b) complaint about it, and (c) put themseles al over the internet advertising their lack of responsibility.

we will surely defeat china and india in the next 20 years in the global race to be smarter, with aces like these.

(note: not to say it shouldn't be dischargeable, it should, but still. they knew what they were getting into.)
2
I was kind of too young to remember the details, but in 1996, I believe, my school district went on strike for the month of November (Fife School District #417). After the first week us kids planned sleep overs with out even consulting the news to see if school would be back on. That November is snowed a lot too. It was great! Until our school year extended till July 3rd and that included two Saturday sessions, which my dad allowed me to stay home from.

I know before the strike two levies in a row failed, after the second one there were some layoffs and teachers had to switch around a lot. The para-teacher (I think) who worked with the special edu kids in my 4th grade class was laid off, and my 4th grade teacher had to switch to 3rd grade. I am unsure how often grade school teachers switch it up, I know my old 3rd grade teach is still teaching 3rd grade.
3
It's good to know that all those rich Swiss bankers are using so much blow.
4
Hey! I ended up with a two abscessed front teeth that the endodontist believed were due to my extensive brace-work. Apparently it's fairly common. I'm glad I ended up with only a double root-canal, and not a brain abscess.
6
I've had a few friends of friends not in the financial industry who've discussed the amount of cocaine use among young folks in Switzerland, though it was more in the 1990s, when some them were young folks themselves. Are things that soul crushing over there? Or is there just some logistical circumstance that makes it far too easy to acquire?
8
Well, as the wealthy move their funds to Swiss banks to avoid paying the tax they (still) owe in the countries of Greece, Italy, Ireland, Spain, and Portugal (PIIGS), what did you expect?
9
@5
"The government is obligated to give student loans to pretty much anybody who asks for them."

Based on that and your previous postings, I'm going to say that you have never used financial aid for college. I'm guessing that you've never attended college at all.

Unless by "pretty much anybody" really means enrolled students pursuing an approved degree and maintaining an acceptable GPA.

Which, based upon population statistics, means less than 20% of the population.
10
I know how to get that greedy asswipe Jerry Ashton to jump out of a window....a full student loan jubilee.

Then everyone else can smack their lips.
11
In secret Canadian news: Ryan Reynolds married Blake Lively.
12
@ 1 and 5. Your abstract notion of moral hazard could be real-world hazardous.

A generation of educated young people who have few job opportunities (ergo, time on their hands to do something besides chase after money), are restricted from creating their own opportunities because of their debts, and increasingly resent the mechanics that put them in this position?

That's a potentially incendiary recipe.
13
If I was having trouble paying off my $55k in student loans, I'd probably hold off on the baby and the new SUV, but to each their own.
14
@5, they ARE harder to discharge, dummy. Bankruptcy doesn't clear Federal student loan debt.

But yes, I absolutely agree that it is in our best interests, as a people, to punish our workforce for decisions that they made while young and inexperienced and being constantly told by virtually every adult or authority in their lives that it was absolutely essential that they go to college. I mean, honestly, they should have known better, right? It's not like, historically speaking, going to college was an unambiguous good for previous generations.

You ass.
15
@13,

What makes you think they aren't? An entire generation is being held back from starting their lives and participating in the consumer economy. That affects us ALL.
16
@15: The picture that kicks off the story with this caption:

"Amanda Cordeiro of Clermont, Fla., owes $55,000 in student loans. She has changed her phone number about four times in a year to avoid being found."
17
@16, that's rather stupid...they can find you via your employer's filing of quarterly income taxes for the Feds (I think it's either the 940 or 941 form). And once they match her SSN with an employer the garnishments begin.

Hard to believe just a generation ago student loans could (and usually were) paid off in just a few years after college. Now they are cost around 50% of a home.

And news flash to some of you assholes: you can't get a car loan, home loan, or rent an apartment with heavy student loan debt that's in default or even get a job.

The ignorance on this subject is mindblowing but then again, it's America. What can you expect?
18
@1 and @5, blame the victim, create a rich and privileged class who only have access to the American dream (with loans from their parents for school and to start businesses), go over the fiscal cliff ruing this country's credit and justifying cutting of all social spending. Is that about it? You might add de-funding public education, eliminating a woman's right to control decisions about her own body, no rights for gays and attacking Iran, China and Russia. You are such fake libertarians.
19
Zombie Sonics Voted #1 Sports Franchise by ESPN:
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20
@14: Maybe part of the application student loan process should be having the applicant answer a few questions such as what's the average starting salary in your planned field of choice (Liberal Arts Undecided freshmen: pay special heed to your difficulty in answering this question), what's the percentage of graduates with your major who find professional employment within a year of graduating, how much are you planning on paying on your loan per month after graduating, and how many years will it take you to pay off your debt at that rate? Just a few things to start them wondering if taking on that heavy debt load is worthwhile.
21
@20,

So, in other words, if you don't know what you want to do with your life when you're 18 years old, you don't get to go to college. Makes total sense.

FYI, most degrees these days are for "useful" fields that supposedly will earn the degree-holder a lot of money. No one's hiring for those positions either.

The government would do well not to give out loans to anyone seeking a degree at a for-profit institution, but there's too much money to made bilking students out of income they haven't earned yet. All of your holier-than-thou moralizing isn't going to resolve that problem, as much as you like to pretend you wouldn't be in the same circumstances if you were 18 years old today.
22
When having someone consider the future implications of borrowing more money than they've ever seen is "holier than thou moralizing", we're in trouble.

You don't need to know "what you want to do with your life at eighteen", you just need to understand that when you bet big, you have the distinct chance of losing big.

In America, college is for the well-off, gifted and/or lucky.

For everyone else, it's probably not a good idea. I wish it was otherwise, and that college was free for everyone who passed admissions, but such is not the case, and the rest of the country isn't on board with making it so. In that reality, kids will continue to get fucked over unless adults start talking sense to them.
23
Having been in the workforce for awhile now, something I've noticed.

Most of the jobs that I see available are for things that there really aren't degree programs for.

Some examples are Ruby on Rails developers(actually most software developers), Project Managers, or Network Engineers.

In my case the two industries I'm working in now(which I won't discuss) there is no way to prepare for them via a college program. They are disciplines that 10-15 years ago didn't exist in any real form.

However, without exception any jobs that are in any of those positions require a four year degree from at least an OK school.

Statistically right now for any job that pays enough to allow someone to live you need not only the 4 year degree but also at least another 4 years of experience.

Without that paper things are less than hopeless.
24
@23 - A CS degree seems like good preparation for a programming job.

You are right when you say you can't major in Ruby on Rails specifically, but that's like complaining that you can't a major in designing remote controls, and instead are forced to pursue an Industrial Design degree.
25
@1 speaking here again.

I said student loan debt should be dischargeable in banktuptcy like other debt. on that, I am with the protestors. no special rights for lenders to students.

at the same time, let's get real here. these students at age 18 are old enough to sign contracts and do basic math, like "gee if I borrow $6K a semester for eight semesters, let's see, I will owe at least $489K...and then the interest will grow during the college years...so I am taking a huge fucking risk. Maybe I should major in computers, not english?"

really, is that too much to ask? to point out?

I recently employed a so called college graduate who couldn't manage to keep a to do list, or remember the to do's, or do them, and who acted like I was a monster for expecting, oh that an employee bring a calendar and to do list and oh...paper and pen...to meetings. to you know, write down stuff, like assigments.

I would even favor a federal program to give more relief to these students. but we have to point out they fucked up and yes, they should know better. a sixth grader should know better. let's stop lowering standards, okay?

Please wait...

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