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This is why millennials will never grow up

Celebrity

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The cost of attending college is growing faster than inflation. Most of this cost comes from the cost of tuition. Tuition can range from under $9,500 at a public college, to over $35,000 at a private college. It doesn't stop there, since many courses also have fees, in addition. The cost is often deferred by people who want to buy something, but don't have cash on hand with student loans. Americans owe $1.3 Trillion in student loan debt, and like the mortgage nonpayment that triggered the housing crisis, it's possible this debt could become severely delinquent. According to studentloanhero, only $6.2 billion was borrowed in the 2012-2013 year, up from $5.5 billion the previous year. About 11% of the overall debt is delinquent.

You could say this is a growing industry. But where previous generations erred, millennials are very cautious when it comes to taking on more debt. I recently saw the video from The Wall Street Journal, below. The video is from last August, almost a year ago.

If you read the following article from Marketwatch, you will get a similar impression of the effect of student loan debt on "reaching milestones" in the eyes of millenials. What steps should we take to make sure that we don't ruin another industry because of lending to people who can't pay back their debt?

This is why millennials will never grow up - MarketWatch
 

Carjosse

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America created government subsidized essentially unlimited loans but never set limits on what schools could charge and on what it could be spent. Schools have no reason to lower costs, only raise them.
 
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Surrealistik

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America created government subsidized essentially unlimited loans but never set limits on what schools could charge and on what it could be spent. Schools have no reason to lower costs, only raise them.

By design.
 

TobyOne

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Major based loan approval. If you're studying gender studies, you can't borrow $100,000.
 

RetiredUSN

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I don't sell the millennials short as most older people do, they usually come around just fine.

It takes them a few years to find out that they are no more special than anyone else, regardless of what their brain dead parents and teachers have taught them.
 
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Deuce

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Find me a generation that hasn't claimed the next generation is useless and lazy and entitled.
 

Celebrity

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Major based loan approval. If you're studying gender studies, you can't borrow $100,000.
Loans can be merit based too, but that's not exactly a free market. Sallie Mae makes tons of money off of people who default and miss payments. If everyone paid their loan on time, the CEO might make money, but 10,000 clerks will get fired if it means the quarterly earnings will go up. Joe Blow isn't going to benefit unless more people are borrowing more money.

Find me a generation that hasn't claimed the next generation is useless and lazy and entitled.

Or a generation that doesn't claim that the previous generation was reckless, irresponsible and uncouth. As long as there isn't a class below to oppress, people will eat each other in a capitalist society.
 

_Sal

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Find me a generation that hasn't claimed the next generation is useless and lazy and entitled.

I agree

AUTHOR: Socrates (469–399 B.C.)

QUOTATION: The children now love luxury; they have bad manners, contempt for authority; they show disrespect for elders and love chatter in place of exercise. Children are now tyrants, not the servants of their households. They no longer rise when elders enter the room. They contradict their parents, chatter before company, gobble up dainties at the table, cross their legs, and tyrannize their teachers.
 

ttwtt78640

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Major based loan approval. If you're studying gender studies, you can't borrow $100,000.

Even in high demand areas there are quite a few that never graduate yet run up a considerable tab in their failed attempt to secure a degree.
 

Carjosse

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Major based loan approval. If you're studying gender studies, you can't borrow $100,000.

You also have to take the school into account, because even a good major from the wrong school is about as useful as a gender studies degree.
 

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America created government subsidized essentially unlimited loans but never set limits on what schools could charge and on what it could be spent. Schools have no reason to lower costs, only raise them.

That's exactly the problem. Schools don't care because they know the government will cover the costs. That's why they're turning colleges into country clubs and pushing students to take classes that appeal to emotion, not actually prepare them for the real world. If the government would set a hard limit on fees, the schools would reduce fees, but fiscal responsibility isn't something the government does.
 

ocean515

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Even in high demand areas there are quite a few that never graduate yet run up a considerable tab in their failed attempt to secure a degree.

That is the dirty little secret of higher education.

After failing to properly educate kids in high school, they are told they will never amount to anything if they don't get a college degree. Having received some special consideration to get in to college, they borrow the money and discover they aren't close to being ready for the class load.

What happens then? They drop out. The graduation rate in certain groups is available to view.


In 2009, graduating in even six years was a triumph for most CSU students. Now, White said, the six-year graduation rate is 57 percent, three points higher than the target set that year, when CSU’s most recent initiative started.​

Read more here: Going for the ‘ouch’ on Cal State graduation rates | The Sacramento Bee

So having been convinced the only hope they have for the future is to graduate from college, and now they have failed at that, what then? All they have left is the debt.

Liberal run education is an unmitigated disaster run by people who should be ashamed of themselves.
 

_Sal

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That's exactly the problem. Schools don't care because they know the government will cover the costs. That's why they're turning colleges into country clubs and pushing students to take classes that appeal to emotion, not actually prepare them for the real world.
what degrees appeal to emotion and what should they be doing to prepare for the real world?
 

Celebrity

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Liberal run education is an unmitigated disaster run by people who should be ashamed of themselves.

I just ran out of beer, too. Damn, you had me pegged all along.
 

Cephus

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what degrees appeal to emotion and what should they be doing to prepare for the real world?

Things like gender studies and race studies. There are no real world jobs associated with those degrees.
 

Celebrity

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Things like gender studies and race studies. There are no real world jobs associated with those degrees.

Which is why one should study the art of the deal. Right? Am I right?

AKA the art of how to kiss ass and take names.

pyramid2.png


Here is a guide on how to tip millennials and other people.

Everything You Don't Know About Tipping - Wait But Why
 
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Cephus

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Which is why one should study the art of the deal. Right? Am I right?

AKA the art of how to kiss ass and take names.

And as expected, you have no intelligent response.
 

ttwtt78640

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That is the dirty little secret of higher education.

After failing to properly educate kids in high school, they are told they will never amount to anything if they don't get a college degree. Having received some special consideration to get in to college, they borrow the money and discover they aren't close to being ready for the class load.

What happens then? They drop out. The graduation rate in certain groups is available to view.


In 2009, graduating in even six years was a triumph for most CSU students. Now, White said, the six-year graduation rate is 57 percent, three points higher than the target set that year, when CSU’s most recent initiative started.​

Read more here: Going for the ‘ouch’ on Cal State graduation rates | The Sacramento Bee

So having been convinced the only hope they have for the future is to graduate from college, and now they have failed at that, what then? All they have left is the debt.

Liberal run education is an unmitigated disaster run by people who should be ashamed of themselves.

There is a risk of turning public colleges into the diplloma mills that many high schools have become by setting (or assuring?) ever higher graduation and diversity rates.

Graduation, Student Retention, Diversity Rates Climb at UT Austin | UT News | The University of Texas at Austin
 

_Sal

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Things like gender studies and race studies. There are no real world jobs associated with those degrees.

well there is social work but bar that and then the individual really would need to make those studies into a PHd and then teach and do research, yes

and the average individual is not PHd material

what would you prefer they do in order to prepare themselves for the real world
 

Carjosse

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That's exactly the problem. Schools don't care because they know the government will cover the costs. That's why they're turning colleges into country clubs and pushing students to take classes that appeal to emotion, not actually prepare them for the real world. If the government would set a hard limit on fees, the schools would reduce fees, but fiscal responsibility isn't something the government does.

That is how it works here, the fees that students pay are capped, currently that is about ~$8000/year at the federal level. Then provinces usually subsidize it further, especially Quebec and Newfoundland and Labrador. For foreign students they can charge whatever they want.
 

ocean515

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There is a risk of turning public colleges into the diplloma mills that many high schools have become by setting (or assuring?) ever higher graduation and diversity rates.

Graduation, Student Retention, Diversity Rates Climb at UT Austin | UT News | The University of Texas at Austin

The answer is yes.

As an employer, a college degree had meaning, even if unrelated to the position. It was testament to focus, commitment, and follow through.

With the plans liberals have, it will lose any real meaning, and will be little better than a HS diploma.

However, the worst aspect is indeed the total scam being pulled on students by educators.
 

PirateMk1

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You also have to take the school into account, because even a good major from the wrong school is about as useful as a gender studies degree.

If the school is accredited, how is it the wrong school?
 

ttwtt78640

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The answer is yes.

As an employer, a college degree had meaning, even if unrelated to the position. It was testament to focus, commitment, and follow through.

With the plans liberals have, it will lose any real meaning, and will be little better than a HS diploma.

However, the worst aspect is indeed the total scam being pulled on students by educators.

It is sad that having a HS diploma does not at least mean that a person has the basic language, reading, math and problem solving skills to be considered trainable. That is why many jobs now require a college degree even if not in a strictly job related field.
 

ocean515

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It is sad that having a HS diploma does not at least mean that a person has the basic language, reading, math and problem solving skills to be considered trainable. That is why many jobs now require a college degree even if not in a strictly job related field.

I agree. And the fact is, college is not for everyone. People can pursue many careers with great income potential, without taking on debt, and without taking the 5-6 years it takes to complete.

However, I believe in collusion with modern liberal educators, the left pushes this degree meme.

People argue college is necessary because of technology. Ridiculous. What technology? My 5 year old granddaughter can sit down at a computer, or an iPad, and jump on to youtube kids videos without any input from adults. Kids are born with the stuff and live with it every day.
 
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