America Has Gone Crazy Over Student Loans

Monday, July 9, 2012, AM | 5 Comments

A story in the New York Times dot Com begins as:
“Kelsey Griffith graduates on Sunday from Ohio Northern University. To start paying off her $120,000 in student debt, she is already working two restaurant jobs and will soon give up her apartment here to live with her parents.”

Her mother, who co-signed on the loans, is taking out a life insurance policy on her daughter.”

There are many colleges that are operating as for-profit organizations. Think about the marketing talk that faculty and admission officers presented to her:

“The school officials urge students to pursue their dreams rather than obsess on the sticker price.” Can you believe the shit they tell students?

Students give the college their money – $50,000 a year in this particular case. Has anyone – government, college officials – told students and their parents the f*cking shit how they will ever repay the loans.

Kelsey is working two restaurant jobs, moved in with parents, to repay the f*cking loan.

What the shit is so special about this particular university? What do they teach that she can’t learn in a community college?

If you can’t afford this kind of shit, stay away from it. America will regain its educational strength with colleges where learning is most affordable, not where you are put under severe debt.

One solution to student debt problem…

My son and one of my nephews take classes in one semester and skip next semester to work full time. They save money to pay for next semester. Both went to community college for their 2-year associate degree.

Then they transferred to a 4-year college to finish the two years left in their study. My nephew will graduate in finance and accounting. Got a good job too.

My son will be graduating next year. He is working full time with a very reputable company in the summer. He would save enough money to pay for the two semesters left in getting his undergraduate degree.

His company has tentatively promised him they would extend his job to full time and exempt status with better pay.

Some colleges offer co-op program where students take classes one semester and work another.

Because there is no local college close by in our town so my son and my nephew created their own personal co-op program.

However, before they started this program, they talked to the colleges and let them know about what they wanted to do.

We as parents will spend less than $5,000 for my son 4-year college program. The rest of the money comes out of his pocket.

When my son and my nephew graduate, they will carry not a single dime in debt. Not only will they graduate, they are gaining valuable experience in their respective fields.

They will be finishing their so-called 4-year college in six years. That’s no big deal considering that the average debt when students graduate is more than $23,000.

I don’t understand Ms. Griffith’s way of thinking…

“As an 18-year-old, it sounded like a good fit to me, and the school really sold it,” said Ms. Griffith, a marketing major. “I knew a private school would cost a lot of money. But when I graduate, I’m going to owe like $900 a month. No one told me that.”

No f*cking shithead would tell you anything and why should they? It’s not their job to run your personal finances. Don’t blame it on the school. It’s their job to make education expensive and then market it to students. You and you alone should make the decision for yourself.

No wonder students loan passed the $1 trillion mark. Just like using credit cards where Americans think with their you know what instead of their brain, students think more about social life in colleges than anything else.

New York Times further states…

For all borrowers, the average debt in 2011 was $23,300, with 10 percent owing more than $54,000 and 3 percent more than $100,000, the Federal Reserve Bank of New York reports.

Average debt for bachelor degree graduates who took out loans ranges from under $10,000 at elite schools like Princeton and Williams College, which have plenty of wealthy students and enormous endowments, to nearly $50,000 at some private colleges with less affluent students and less financial aid.

Here at Ohio Northern, recent graduates with bachelor’s degrees are among the most indebted of any college in the country, and statewide, graduates of Ohio’s more than 200 colleges and universities carry some of the highest average debt in the country, according to data reported by the colleges and compiled by an educational advocacy group.

The current balance of federal student loans nationwide is $902 billion, with an additional $140 billion or so in private student loans.

What f*cking shit is so special about education in Ohio Northern and other Ohio institutes that students can’t learn anywhere else for a lot less.

Chelsea Grove said…

“I’ll be paying this forever,” said Chelsea Grove, 24, who dropped out of Bowling Green State University and owes $70,000 in student loans. She is working three jobs to pay her $510 monthly obligation and has no intention of going back.

Wake up students and parents to the realities of your financial life…

The job of administrators and admission officers is to make education expensive and then draw you to their institutes to make your life miserable in debt for a long time to come.

Your job is to say the hell with you and join an inexpensive college that you can afford. My son and nephew are following thousands of other students – that is, taking classes in one semester and working in another – and other students should as well. Good education and good experience at the same time, and almost no debt when they graduate.

Moral of the story…

Almost all students with heavy student debt under their belt say they didn’t think about the debt. Why not? You borrow the f*cking money but not think about repaying it. That’s not the American way, or may be that’s exactly what it is.

It is the American way. It has become the American way – borrowing is quite thrilling but not a single thought is given to repaying the debt. In short, Americans are unafraid of credit but scared as hell of debt.

In a Nutshell
Education in the United States is quite expensive to say the least. Everyone realizes it. As long as we think with you know what instead of our brain, we would pay an arm and a leg for going to college.

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