Our whole education system is a pile of shit. You would be suprised at how many kids can complete 4 year degrees and can't even do basic college level algebra. If i had to do it over again i'd go to a community college for as many courses as i could transfer to a 4 year program school. Also, college is not difficult at all. I think you can be semi retarded and pass. If our education system wasn't 100% centered around profits we could have master's degree equivalent educations by age 22. "Hey let's raise our tuition so it looks like we are a better school." I wonder where they studied economics, probably with the rest of the idiots running this economy. As for picking the wrong major and owing big for it....I believe you should pay at least something maybe like at least 250 a month. Despite the shitty education i'm sure that kid partied his ass off and bought a few ipods with that 160k.
Nine years of average faculty salaries at more than 1,300 institutions (AAUP Faculty Salary Survey): http://chronicle.com/stats/aaup/ The website allows you to enter institution name; state; year; categories.
Yeah but most people actually want the material items you used for this comparison and are generally upset about losing a nice car or home. Your approach would only seem to exacerbate the problem with an additional wave of college bound kids that shouldn't be there in the first place. I can picture it now...5 kids sitting in their parents basement blazin' some js, thinking they should go to college and study witchcraft because as long as they pass they can exchange the intangle 'education' they received for their mountain of debt.
These folks need to go to debtors prison. Nothing fancy, just an electrified fence out in the desert and a guard tower. Throw them in there and I'll bet you that the debtor will have family/friends pay the debt to get them out. You can squeeze blood out of a turnip. Too many people in this country feel that they are entitled to everything without any effort. Just look at who is leading in the presidential polls..."We need to redistribute the wealth in this country." This country is turning into Venezuala slowly but surely.
if he had been a business major, he would charge the 160k to his credit cards, and file after 120 days. stutent loan over...
The people who extended him the credit are more responsible due their professional preparedness and experience than the kid who only took the the cake he was offered. Anyhow, why does he have to live overseas, just come back home get a job and start paying a few bucks a month, there's nothing they can do about it, or is there?
Is there someone here that didn't realize that 95% of the population were assholes? Even the 95% know this, and if they didn't before they sure do now.
hmmm.....with our economy facing a recession and knowing you'll be screwed right out of college with a 100k loan, which you cannot repay. and with our idiot govt still backing up greedy SLM and others, who harass people phone calls all day and night, and with enormous and yet non-negotiable interest rates from 7-10%(why isn't this going down????wtf). If I didn't have already have a family....fleeing to a different country would be on top of short listed options. Gov't really need to come up with some kind of protection for young people in default of student loans or this will become a serious problem here in U.S.