161–170 of 259 posts
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The doctors in my family all graduated from med school with less than 20k total student loan debt. School was much cheaper 30 years ago
Adjusted for inflation: $20,000 in 1988 → $42,601.69 in 2018
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Where are you getting this information from? Because nothing I am able to see points to people discharging their loans happening on a massive scale. The only "news article" [1] I can find that references this mentions 0.3% of student loans were discharged through bankruptcy in 1977 [2]. [1] https://www.linkedin.com/pulse/history-student-loans-bankrup... [2] http://harvardlawreview.org/wp-content/uploads/pdfs/vol126_s…
Purely anecdotal, but I have a friend who went to veterinary school. The school had a literal class teaching all vet students to use IBR forgiveness to get their debt discharged. It's not quite as abusive as what could have happened when student loans were dischargeable in bankruptcy- it takes 20 years and you're taxed on the forgiveness- but I thought it was quite perverse that the institution charging towering sums…
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The solution is to stop orienting our society around institutional learning. We have a global information network. We need to orient society around individual learning, not academia. Kids living at home and taking (mostly) pre-programmed online courses should be the norm. It is vastly cheaper, and can deliver more consistently better results.
I like this mentality, but there needs to be education around fact finding and logic. (Formerly the scientific method, but I think that got hijacked with PhD politics) Me and my brother are building a dishwasher but he seems to jump into solutions rather than determining the necessary inputs and equations to prove them outputs will meet our design specifications. And my brother is an engineer. In a few weeks/months I…
I picked up that mentality while being involved with the family farm as a young child.
The elementary and secondary systems came of age when the vast majority of the population also had significant involvement in agriculture. One would imagine that kind of thinking would be pushed at those early school levels, long before one reaches the typical post-secondary age, but you are suggesting that is not the case. It may have been assumed that one would already pick that up at home given the circumstances of the time and we haven't looked back since?
Has college become the replacement for agrarian exposure in our modern urbanized society?
It would be interesting for someone to perform such a study in the UK, which already has a near-perfect and near-complete data set of which schools made an offer to each student. You wouldn't even need any data from the universities themselves: - UCAS has the data for university offers and admissions (including subject studied) - HMRC (UK equivalent of IRS) knows whether you were employed and how much you earned If t…
I think this would be an extremely interesting data set, but the obvious and simple analysis would not address the key problem that I see as mentioned in the article. > On job placement, the biggest deception by prestigious colleges and universities is to claim credit for the brainpower and work habits that students already had when they arrived. I see this all the time in my workplace. Many of my colleagues went to…
- Someone who accepted a place at Oxford
- Someone who was offered a place at Oxford, but went to Durham instead
It should also help distinguish those two from:
- Someone admitted to Oxford who decided not to go to university at all
However (and perhaps this is the problem you have in mind) the data set for this last category is likely to be very very small.
So perhaps the data can help to compare universities, but not whether going to university at all helps.
It's odd that no one has addressed the issues of the rising cost of higher education. Once upon a time you could work a full-time job during the summer and part-time during the school year to pay for your education and graduate debt free. This wasn't that long ago either, I paid for my college education in the late 90s in cash I earned.
>I paid for my college education in the late 90s in cash I earned. If you went to a public school, taxpayers paid for a large portion of it.
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Who is going to lend tens of thousands of dollars to an 18 year old with no income, no assets, and no credit?
College shouldn’t cost tens of thousands of dollars to begin with; that’s part of the OP’s claim.
Admission to a to school seemed like the only path to wealth when I was growing up. I don't think I can make that same claim for my kids.
For whatever I have saved for them I'll offer to put it towards college or give it to them when they turn 20 to start a business.
I taught college for about a dozen years (part time on the side), and may get dragged back into again soon. I can say emphatically, the quality of the schooling only helps people who would succeed anyways. Those that won't or can't, no school can help them. There are just too many lazy, unmotivated or simple defeatist students out there. To not be too harsh, there are many students over their head in life (debts, rel…
A lot of debate about education forgets that roughly half of public university students wash out. Graduation is a real accomplishment that sets you apart from many others who had the same opportunity and access.
source: https://www.cnbc.com/2017/10/10/bill-gates-us-college-dropou...
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College shouldn’t cost tens of thousands of dollars to begin with; that’s part of the OP’s claim.
That's how supply and demand works though. When people don't think the ROI is there prices will drop. Admission to a to school seemed like the only path to wealth when I was growing up. I don't think I can make that same claim for my kids. For whatever I have saved for them I'll offer to put it towards college or give it to them when they turn 20 to start a business.
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Used to be. Doctors and lawyers would go through a decade of school on loan and then discharge it all and start a lucrative practice. That's part of how we got here.
Where are you getting this information from? Because nothing I am able to see points to people discharging their loans happening on a massive scale. The only "news article" [1] I can find that references this mentions 0.3% of student loans were discharged through bankruptcy in 1977 [2]. [1] https://www.linkedin.com/pulse/history-student-loans-bankrup... [2] http://harvardlawreview.org/wp-content/uploads/pdfs/vol126_s…
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My school, Purdue, offers a program (Income share agreement - ISA) where a borrower pledges a percentage of their future income for 10 years in exchange for tuition money. To me, the most "innovative" part of the program is that the percentage charged varies by major. The main conclusion from this program is that if you're income is going to be high (basically >=$70k/year starting salary), you're better off with a tr…
In Europe we call that taxes.