students coming out of college with $15k to 100k, let alone the debt they accumulated on their credit cards, to only make $35k to 45k a year does not seem like a healthy way to start your life as a worker bee. being in the hole financially is a pain to get out of and yet that's what most students are facing after graduation. college is important and it will get you in the door to jobs but in the long run, not getting yourself in debt and always working will get you far in life then to always have to pay the piper. maybe a good alternative than the traditional colleges?? College in my pjs
+1 The scam has been running for decades. The tactics college recruiters use, and the textbook scum are no different imo than the nigerian scammers.
That's not what happens in countries which have normal bankruptcy laws for student loans. So you are probably wrong about that. After all, being a bankrupt is not exactly good for your employment prospects. Besides, all unsecured loans have this risk, students are no different. Maybe lenders would only lend sane amounts if the bankruptcy laws for student loans reverted to what they are for every other borrower. The SL bankruptcy regime is so clearly just an example of lobbyist-driven pork that it's amazing anyone tries to defend it. And as everyone can see, it's created a fucked-up counterproductive system.
Students need to be smart about student loans. If you forsee them being Onerous , simPly pay them off with personal loans or credit cards. 6 months later declare bankruptcy and voila' yOur debt is forever gone. Only a moron would let student debt ruin their lives. There is a way out of everything. B
What about the parents? Don't they check on their kids? If my son would rake up $100K in debt, I would do something about it.
Parents don't co sign for government backed student loans. That's thewhole point. If you gave a co signer. No need for the govt program.
well i know a lot of people (northwestern university (private)) who couldn't get by on only the government subsidized loans and also had to take out private loans to cover the gap. they had to have their parents cosign to get any of these. "Total undergraduate tuition, fees, room and board at Northwestern University will increase 4.6 percent to $52,463 in 2010-2011 from the current year's $50,166." stafford limit off the top of my head i believe is about 20k/year, so you are still 30k short and most student jobs can't cover that as a lot of full time jobs start in that region.