college= big business with little to no payout for the "student"
loans= fiat debt to bankers
the two make a perfect pairing in order to keep the little people enslaved.
college consists of many classes that have no part in being required for a degree. i don't need to know Shakespeare to become a programmer or linesman. classes take twice as long as they need, simply so they can milk more debt from the students.
the commie professors & deans are making $$$$$ no problem though...
It wasn't that long ago when the Federal government held the loans at a low interest rate. I don't remember who pushed it over to the banks, but it was near the end of Bush's term, or the beginning of Obummer's term.
I had a loan, but it wasn't that much (less than 1/3rd of a years income after graduation).
But, you are correct in that college's have gotten out of control. No longer merit based to get in, and way overpriced for the value out. Having a college education does not ensure a higher income. In fact, in many cases, people do better without it. But many businesses use a college degree to restrict access to jobs. Unfortunately, they have to in many cases - too many people think they can do a job they are completely unqualified for, and would put other people's lives at risk. So there needs to be qualifications.
Federally backed loans. Just like when the fed started backing housing loans so banks could make bad loans and still make money - another form of money laundering.
Maybe they always were federally backed, but the interest rates were reasonable, and standards were higher.
college= big business with little to no payout for the "student"
loans= fiat debt to bankers
the two make a perfect pairing in order to keep the little people enslaved.
college consists of many classes that have no part in being required for a degree. i don't need to know Shakespeare to become a programmer or linesman. classes take twice as long as they need, simply so they can milk more debt from the students.
the commie professors & deans are making $$$$$ no problem though...
It wasn't that long ago when the Federal government held the loans at a low interest rate. I don't remember who pushed it over to the banks, but it was near the end of Bush's term, or the beginning of Obummer's term.
I had a loan, but it wasn't that much (less than 1/3rd of a years income after graduation).
But, you are correct in that college's have gotten out of control. No longer merit based to get in, and way overpriced for the value out. Having a college education does not ensure a higher income. In fact, in many cases, people do better without it. But many businesses use a college degree to restrict access to jobs. Unfortunately, they have to in many cases - too many people think they can do a job they are completely unqualified for, and would put other people's lives at risk. So there needs to be qualifications.
https://finance.yahoo.com/news/us-government-biggest-financial-asset-212757531.html
Federally backed loans. Just like when the fed started backing housing loans so banks could make bad loans and still make money - another form of money laundering.
Maybe they always were federally backed, but the interest rates were reasonable, and standards were higher.