The bitter, billowing borrower is Samuel Garner — currently a bioethicist at a Washington, D.C. nonprofit.
Garner’s tale of woe and world-historical budgetary stupidity begins — as he tells it, in excruciating detail — when he was a high school senior. He was a “consumer” of the “vacuous platitudes” on college brochures, and so he excitedly applied to Connecticut College — a school which currently charges a comprehensive fee of $62,965 per year.
“My siblings and I had the privilege of expecting we would attend private colleges,” Garner explains, even though his family had become “financially stressed” when he was in high school.
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11 comments:
A vote for Sanders.
Boo hoo.
Wake up and smell the accumulating interest, kids!
Well this is what happens when you have government and private industry colluding against the American people. Why should student loans be guaranteed to be repaid and not be extinguished like every other loan in bankruptcy? A loan company would not give a 17 or 18 year old 200k to open a business with a failing business plan. These kids are not prepared to make financial choices of this magnitude before they are even able to buy a six pack. Heck I remember when I was 17 Verizon wouldn't even approve me for a cell phone because my 'lack of credit". Now, I went to college and become productive member of society. I have also paid back my student loans, but I would have never taken out private student loans in hindsight. It always bothered me that I was paying 0% on credit cards, 4% on my house note, 2.24% on my car loan, but my private student loans were 7.5% and 9% respectfully. Moreover I could claim bankruptcy and get out from under my choice to use a credit card, buy a house, and purchase a car. However, a choice I made when I was 17 was FOREVER. In my mind it is still one of the craziest abusive schemes I was ever involved with in my entire life. Actions like this drive up college cost, and are zapping the wealth of the middle class of this country. The are also highly immoral.
One of the post-grad life is the fact that many employers won't hire them. They view them as over qualified or lack experience because they were in school instead of working. Bachelor degrees are sold by colleges on the premise that it will garner a higher paying job with a degree, yet many colleges do not assist students in gaining the skill set to get a job - like building a resume. While they have career services within the college, many times, its other kids helping their peers not a professional resume writer.
Furthermore, while the schools hold fairs, most of the employers in attendance are government agencies (go figure) and if a student is late with one payment, their credit is marred because that puts their school loan in default status. Thus, prohibiting them from government agency employment due to credit issues.
It's a vicious circle. And the politicians are more than happy to not relay this downside to getting a post secondary school education.
You cannot earn a degree in common sense. Therein lies the problem.
9:30 PM - those should be offered in high school.
These verification pictures need to be larger.
Our government should not be permitted to provide funding towards ANY curriculum that leads to a career where there are no jobs. How hard is that to understand?
What part of LOAN did he not understand? If you take out a car loan you know how much it is for. If you take out a mortgage you know what you are signing for. Entitlement at its worst.
Not everyone should go to college!
There are very few jobs requiring a degree in underwater basket weaving!
If you go to a 'diploma-mill' college, some companies may not hire you even if you got straight A's in the specific degree program of their base business function!
7:52 banks can take houses and vehicles back and at least recoup some of their monies. How do they take back the education which you got and the one you decided to was in the field you wanted?
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