The student loan crisis is really an underemployment catastrophe
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Re: The student loan crisis is really an underemployment catastrophe
#2One thing that I noticed in this article and charts was the unprecedented growth of auto loans. They too have skyrocketed. That seems like another "bubble" waiting to happen.
Re: The student loan crisis is really an underemployment catastrophe
#3Talking about underemployment as a problem for college graduates in general doesn’t seem very insightful to me. It seems obvious that not all degrees have problems with underemployment. So which ones do? Why are people doing those degrees? Are they under the mistaken impression that those degrees will lead to employment opportunities that don’t actually exist?
Re: The student loan crisis is really an underemployment catastrophe
#4One thing that I noticed in this article and charts was the unprecedented growth of auto loans. They too have skyrocketed. That seems like another "bubble" waiting to happen.
In the last twenty years, new vehicle prices have doubled. My eyes just about roll out of my head when I see what the sticker price is for a new truck or minivan. I assume people must be leasing more than they used to, because I can't see any other way to get the payment down into a palatable $500/month range.
Re: The student loan crisis is really an underemployment catastrophe
#5Talking about underemployment as a problem for college graduates in general doesn’t seem very insightful to me. It seems obvious that not all degrees have problems with underemployment. So which ones do? Why are people doing those degrees? Are they under the mistaken impression that those degrees will lead to employment opportunities that don’t actually exist?
I believe (partially anecdotally and partially from reading articles over the years) that a big part of this problem is more like "mis-education", rather than "under-education". In primary and high school education in the UK, computing is a dire situation.
It's clear that being good at using a computer is a huge asset in modern society, so why don't we gear education towards it? Programming ought to be seen as vitally important as English and Maths.
Re: The student loan crisis is really an underemployment catastrophe
#6One thing that I noticed in this article and charts was the unprecedented growth of auto loans. They too have skyrocketed. That seems like another "bubble" waiting to happen.
Pickups especially. From what I remember, Ford is all but dropping making cars in favor of the F series because it has a higher profit margin. But I'm less concerned about car prices in contrast to college and healthcare costs.
Re: The student loan crisis is really an underemployment catastrophe
#7Talking about underemployment as a problem for college graduates in general doesn’t seem very insightful to me. It seems obvious that not all degrees have problems with underemployment. So which ones do? Why are people doing those degrees? Are they under the mistaken impression that those degrees will lead to employment opportunities that don’t actually exist?
If people are trying to pay loans back with degrees that don't lead to good jobs, surely that's a problem, right? If you think that large amounts of people being unable to pay loans back is a problem, that is.
Re: The student loan crisis is really an underemployment catastrophe
#8One thing that I noticed in this article and charts was the unprecedented growth of auto loans. They too have skyrocketed. That seems like another "bubble" waiting to happen.
In the last twenty years, new vehicle prices have doubled. My eyes just about roll out of my head when I see what the sticker price is for a new truck or minivan. I assume people must be leasing more than they used to, because I can't see any other way to get the payment down into a palatable $500/month range.
Coincidentally, my newest vehicle is almost 20 years old.
Re: The student loan crisis is really an underemployment catastrophe
#9H1B compete with the newly graduated college students. Before people say that there’s no problem with STEM graduates finding a job, I’ll counter that many of my coworkers 20 years ago didn’t have STEM degrees, and were previously English majors, business majors, etc. They were people with technical aptitude who realized they had picked a field of study that didn’t quite suit their financial aspirations. They were able to get an entry level IT job and move up. Now those jobs are filled by H1B.
Re: The student loan crisis is really an underemployment catastrophe
#10One thing that I noticed in this article and charts was the unprecedented growth of auto loans. They too have skyrocketed. That seems like another "bubble" waiting to happen.
In the last twenty years, new vehicle prices have doubled. My eyes just about roll out of my head when I see what the sticker price is for a new truck or minivan. I assume people must be leasing more than they used to, because I can't see any other way to get the payment down into a palatable $500/month range.
At least, when it comes to cars, they have gotten better in quality over the past 20 years. Not sure the same can be said about higher education.