College Grads Buried in Student Loan Debt, but Unwilling to Give Up Luxuries

Discussion in 'Finance' started by Darkbane, Apr 12, 2016.

  1. Darkbane

    Darkbane Banned

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    http://finance.yahoo.com/news/college-grads-buried-student-loan-072616080.html

    So here we are, post-college, dream accomplished, and people with debt, are UNWILLING to give up LUXURIES they feel they deserve... they think they deserve all these things in life, because we have told them they are entitled to it all, but we failed to teach them how to pay for those things in life... so now they are filled with this regret for for going to college and spending as much as they did, but still don't want to address the issues...

    instead they want us to pay their debt for them, they want us to give them guaranteed higher wages, they want us to give them the world for free... should this not be a VERY loud message that we need to do a much better job at educating kids on the choices they make PRIOR to them getting buried by these choices they now claim they regret? I think thats astonishingly high to see a third say they would SKIP COLLEGE! A THIRD!
     
  2. RP12

    RP12 Well-Known Member

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    That doesnt even count the kids "protesting" everything under the sun when they should be getting an education.
     
  3. GeddonM3

    GeddonM3 Well-Known Member

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    I am on the fence when it comes to this.

    On one hand I want to tell these students that if they want to keep spending a ton of money and creating more debt then they have to reason to complain.

    On the other hand, it's ridiculous that you pretty much have to be rich to achieve getting an education. Now of course I am not saying tax dollars should cover everyones college tuition, but for christ sakes college tuition shouldn't be (*)(*)(*)(*)ing $30k per year. $120k just to be an undergrad, more if you want to get your masters or graduate. It's insane to say the least.
     
  4. EMTdaniel86

    EMTdaniel86 Banned

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    How any of these students who took out a student loan, didn’t think it through( how much they were going to really need, or researched their degree/job outlook? Just put their name on the line and took out 50K?
     
  5. The Mello Guy

    The Mello Guy Well-Known Member

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    It's almost like 18yos don't understand the real world. Great time to soak them out of their future earnings...

    - - - Updated - - -

    You're right, and I'm ashamed to say the left is largely responsible.
     
  6. Hey Nonny Mouse

    Hey Nonny Mouse Well-Known Member

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    None of this follows from what you posted. What you posted suggests that students don't want to give up luxuries. But it says nothing about what the level of luxury is now.
     
  7. GeddonM3

    GeddonM3 Well-Known Member

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    How so? I just generally blame greedy motherfolklores who believe they need to be paid $300k a year to teach their "opinion" lol.

    In my opinion this is just another way to purposely keep more people down, and certain people ahead of the game. Daddy Warbucks making sure his little princess has a less chance of having to put up with the peasants.
     
  8. Pred

    Pred Well-Known Member

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    Any student who complains about debt but isn't willing to sacrifice to pay it off, deserves every bit of criticism there is and I relish in whatever hardships they think they have. Spoiled ingrates. Maybe I should lease a BMW I can't afford, then complain about it afterwards. I could afford a BMW but I choose what I should buy not what I could buy.

    It's called adulthood, kiddos. Managing debt and responsible spending is a part of being an adult. Get used to it.


    Sent from my iPhone using Tapatalk
     
  9. The Mello Guy

    The Mello Guy Well-Known Member

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    Because it's not the faculty as much as it's the administration. And all the pointless degrees like ethnic studies. Anything that ends in studies is going to be a useless degree. Average professor salary ranges from 50k-100k
     
  10. glloydd95

    glloydd95 Well-Known Member

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    If all those people stop spending money...what do you think happens to the economy?
     
  11. GeddonM3

    GeddonM3 Well-Known Member

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    Yeah that is pretty true, then you got to fill the positions to teach these pointless "studies" . And it's not just "studies" , there are courses on juggling, or how to watch television, and my most favorite how to learn from watching you tube lol.

    No not kidding , there are colleges that offer (*)(*)(*)(*) like that lol.

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    They die of starvation and their debt gets passed on to someone else?
     
  12. Hey Nonny Mouse

    Hey Nonny Mouse Well-Known Member

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    But they aren't representative. Students today are looking for courses that will help them make money. The sort of courses you mention are real, but they aren't popular.
     
  13. sec

    sec Well-Known Member

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    there are cost-effective ways to get your undergrad but it involves not going away for a 4-year party
     
  14. GeddonM3

    GeddonM3 Well-Known Member

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    But they are still paid for via tuition. that is the point, worthless (*)(*)(*)(*) that is added to tuition and causes the price of education to rise.
     
  15. Hey Nonny Mouse

    Hey Nonny Mouse Well-Known Member

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    A little, but not much. Rises in the cost of education are much more due to cutting of government funding and the increase in money spent on administration.
     
  16. GeddonM3

    GeddonM3 Well-Known Member

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    Yeah sure, I can go online and be done by next year lol. But the thing is if you are going to a job interview and you bring your online degree, and your rival for the job has a degree from Stanford....... Sorry, but University of Phoenix is not going to trump Stanford lol.

    - - - Updated - - -

    Go back to the beginning of this conversation.
     
  17. Jack Links

    Jack Links Well-Known Member

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    1. the 'loan' money is created out of nothing anyway, and
    2. tuition is so high because of bloated staff and expenses as well as regulations that allow them to do so. If not required, how cheap would college be then?
     
  18. PeppermintTwist

    PeppermintTwist Well-Known Member Past Donor

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    Exactly what I was thinking. The article does not reveal precisely how much we are talking about here in dollars and cents. Eating out might equate to fast food and blah blah blah, so until there are more detailed stats....................
     
  19. Deckel

    Deckel Well-Known Member Past Donor

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    Depends on your assumptions. Eating out for 1 is cheaper than cooking for 1 generally. Since many will be on an income contingent repayment plan, there really is no need to cut anything to lower payments because they are not going to pay it all back anyway.
     
  20. AKS

    AKS Banned

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    Geddon is 100% right. The cost of education is grossly inflated in this country. Like the medical problem, the ONLY solution is to decrease cost. It's beyond criminal what we are charging our kids for college.
     
  21. Lesh

    Lesh Banned

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    It's actually so high that it's "unpayable". in that you get the longest terms possible and live with that payment for the rest of your life.

    Now I don't know how accurate the OP's source is...but I can understand kids saying "I'll never get out from under this debt load no matter what I do...so what the hell...I'm gonna eat a decent dinner..."
     
  22. Same Issues

    Same Issues Well-Known Member

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    Glad my parents were able to help me with college costs. They did this weird thing where they had kids and saved for their college and future
     
  23. Right is the way

    Right is the way Well-Known Member

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    My kids will graduate with zero debt.
     
  24. Same Issues

    Same Issues Well-Known Member

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    You can take courses online from most colleges now btw lol. Cant wait till VR is introduced more to the education environment, I work a shift schedule night and day and my job does not care about my education; the VR could offer me a way to attend lecture at any time which I feel would be to my benefit.
     
  25. tsuke

    tsuke Well-Known Member

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    we should be thankful of this. Can you imagine how bad the economy would be if they cut back their spending to pay back loans? That would be a disaster.
     

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