What $100,000 in student debt feels like

[Lazie]

One man owes $114,000 and is currently enrolled at Columbia University taking on more debt.

http://money.cnn.com/2015/03/24/pf/c...325studentdebt

[Assasin]

While you are in school you don't have to pay so....... the cycle continue.

[Lazie]

While you are in school you don't have to pay so....... the cycle continue.

I am aware, but what happens when they graduate? The calls start and what about those not fortunate to find a decent paying job or even find a job?

The President in his SoU presentation proposed free community college. Haven't heard much about it. Recently read that a bill in North Carolina is making its way through the House, but that bill is for students with a 3.5 GPA or higher.

I liked the proposal from the President as a student could earn 64 credits at the community and earn the other 64 at a 4 year institution. That would help reduce some of the loans currently taken on.

[Assasin]

In Georga the Hope scholarship provide Free tuition for high school graduate with a certain grade going to college. Also free pre-k. Strictly from Lotto.

You know the proposal from the President wasn't going anywhere fast. It is more of a concept than a policy at this stage. Comm Colleges are most funded by state and tuition with grants from central government and financial aid.

[Jawge]

There in lies the problem. It's all about decisions;you just don't force yourself in a school because it's Ivy league or brand name (NYU cost more than Harvard). You can choose a state funded college and get a good education, then go on to be CEO or owner of some corp.

Now these people make poor decisions (they are not trust fund kids) then graduate to cause a mess in the social order. Why a mess? picture one of the above girls in the work force. A single guy approaches them trying to initiate some kind of talk. Now this guy doesn't know that they have a 100k debt and he doesn't fit the bill to help pay it off. He's hit with sexual harrasment and these females may even want to sue. Guess what guy loses his job.

This thing is serious. Even nation states are making the same mistake and sending about two generations to a life debt.

[Assasin]

Jawge it work out better for some. If you join the right associations, if you can use the name of the school and things work out for you it make it easier to earn even 2 times from some of the state school, but if it doesn't work out for you, your goose cook.

[Jawge]

For some! Those two words are key.

[Islandman]

The easy availability of student loans have become the primary reason the cost of college is going up so quickly. If students couldn't get approved for these ridiculous sums I guarantee you that tuition costs would not be rising so fast.

The typical US college campus today looks more like a cross between a corporate campus and an expensive summer camp. That is what students are paying for.

The system is broken and ripe for disruption. Bring on the MOOCs.

[Assasin]

that is why you have to do your research as much as possible and don't over commit.

[Jawge]

LOL then the MOOCs are going to become not so open with a little cost (knowing yu can get loans) and start racking up off the volume.

[Jawge]

True because if you are doing stem courses at the Ugrad level (Math, physics, and engineering) it doesn't really matter where you study, it's about grades and your research for grad school. For jobs it's about how quickly you can use the skills acquired studying the subject area to apply and solve any problem.

[Islandman]

That is fine, they won't cost $40K per year though. That is the point.

Education delivery is stuck in an early 20th century model. Change is coming. You must can see that.

Then again you are the man who said companies would never put their information in the cloud. LOL.

[Jawge]

Iman is GE financial and R&D info in the cloud? don't confise Intranet with internet. Musical chairs if you ask me, the same. Intranet masked as cloud (just some smarter apps running on the intranet).

[Islandman]

GE and companies like that are what percentage of the economy Jawge? And you don't think there are parts of the GE enterprise that are in the cloud?

You ever heard about Salesforce.com? WorkDay? LinkedIn? (Yes they make their money as a cloud based recuiting company). Companies like Oracle have Saas as the fastest growing part of their business.

No not all corprate data is going to go to the cloud, but believe me, a lot more is going there.

[Assasin]

yeah but some of those schools have very good link and put you in line, but to know is to know.

Have a few friends who did their research and their children all went to good school but got some funding and today it paid off for them. Some of us jump in this thing and don't know much, did no research, and had no background knowledge so we end having debt or with degree that is not in demand.

Saying this you have a few good City colleges in NY city.