Student Loan Program ruining people's lives

Discussion in 'Education' started by Anders Hoveland, May 30, 2015.

  1. Anders Hoveland

    Anders Hoveland Banned

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    I want to bring to your attention a big issue that no one is talking about.

    It involves government subsidized predatory lending to uneducated low income people who don't know any better.
    For-profit education institutions take advantage of them. They say "Here just sign here to apply for this loan and we'll train you for a career, you'll earn the money to pay back the loan in no time". But there are no jobs waiting for them. These institutions take advantage of desperate people who just want a better life for themselves and their families.


    But the debt never goes away. Since it is a loan from the federal government, they are still required to pay it back with interest even if they file for bankruptcy. These people are working in low paying jobs to begin with. These subsidized student loans may be doing far more harm than good.
     
  2. Kranes56

    Kranes56 Well-Known Member

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    John Oliver actually covered something like this already. What happens is that the loan isn't just through the federal government, but from private banks as well who work with the college to get them the loan in the first place. So when students take out the loan, it's not just from the federal government, but from banks. In the end, it's a corrupt way of doing business.
     
  3. AR4137

    AR4137 New Member

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    It's a nightmare. Not to mention the quality of education is declining, even as the cost is rising. I lucked out with scholarships, but I know plenty of kids who are already neck deep in debt. It's depressing.

    College is a scam these days. There's no critical thinking, no real pressure on students to understand, rather than memorize, the material. Especially in certain fields, there's no practical application taught for when kids graduate and go looking for jobs.

    We seriously need to do away with the notion that everyone needs to go to college. Unless you're studying to be something that actually requires a lot of training- in medicine, the sciences, law, accounting, whatever- it's really not worth the time. I can't say I have a lot of sympathy for anyone who majored in art history or classics or something useless and then couldn't find a better job (but that's a bit off topic...).

    I am a college student. I always thought it would suit me, too- I was always the bookish type of kid and I loved school. And I do love learning stuff. But I was disappointed when I first started, because it was so easy for just anyone to pass. The only kids who were ever stressed out over tests and projects were the slackers who never showed up to class, there isn't a lot of emphasis on critical thinking, there's no lessons on how to apply what we learn to reality...it's disappointing. You're paying thousands for what most of us got for free in high school.

    I've learned a lot, but only because I went the extra mile with it- I really love the things I study. And I'm determined to make it worthwhile. But I didn't know what I wanted when I started, and I still don't know what I plan on doing. Honestly, if I had opted out of college, I would've been just as fine as I am now, but I never realized that was even a realistic option.
     
  4. Deckel

    Deckel Well-Known Member Past Donor

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    Some people go to college because they are indoctrinated into believing they have to in order to improve themselves of their family's lot in life. It is what you make of it. I think of it as drying in your house. It is still up to you to put up the walls and finishes and decorate the thing. It is not just about what is in the pages of books if you want to be improved by it.
     

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