The Looming Last Gasp of Indoctrination?
The inevitable collapse of the student loan “market” and with it the take-down of many higher educational institutions will be one of the happiest and much needed events to look forward to in the coming months/years. Whether the student loan bubble bursts on its own or implodes due to a general economic collapse, does not matter as long as higher education is dealt a death blow and can no longer be a conduit of socialist and egalitarian nonsense for the inculcation of young minds.
The perilous condition of the student loan sector can be seen by looking at a few ominous pieces of data:
The US has around $1.3 trillion in non-dischargeable loans to students
Over 120 billion in student loans are already in default
27% of students are a month behind on their payments*
As economic conditions deteriorate and there are even less meaningful jobs for college graduates than there are now, these numbers will only get worse.
Not only have colleges and universities been havens of leftist thought for many years, but they have become ridiculously expensive and beyond the reach of most middle-class income earners to afford without going into significant debt.
Moreover, the incessant barrage by the Establishment about the necessity of a college degree has distorted the labor market to where worthless, debt-ridden degrees are pursued instead of much needed blue-collar employment. The readjustment of the labor market to a proper balance will not only take time, but it will be a costly, painful process.
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5 comments:
status quo gotta go!
Well, when universities spend millions on bells instead of using those funds to actually help students this is what you get. I don't care where the money came from but those beautiful bells will do little for those who want to attend but can't afford it.
If this happens along with the sub-prime auto loans, we are going to be in a heap of trouble...BAM!
I'll be dead before they get this 75 thou from me by paying income based payments. If I got a job utilizing my degree, I'd be able to pay the regular payments.
Obama and his cronies destroyed student loans and people have no idea unless you went thru the changes. We did and we opted to pay out of pocket for the rest of the time in school. It was bad enough before trying to repay but after they got their hands in it. It was all about the interest going to the Govt, so No it will take years to repay your loans. While the Govt takes in millions in interest off of those loans. They took those revenues from the banks and pocket it themselves instead. At least the banks offered lower rates and deferments without paying the interest for the entirety of your time of attending school. With the Govt you start paying interest only payments right off the bat, so you intern pay a lot more which equals to thousands of more dollars owed to the Govt
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