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Education Industrial Complex: Student Debt

Big Smoothy

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Brief, but very concise. Does this affect you?
YouTube Video
 
yes let the govt pay for it then work for them they will forgive the debt and passit to the tax payer...:coffee:
 
No, doesn't affect me. I stopped taking student loans my Sophmore year and rather took money from my internship to pay what I would have borrowed. The first thing I did when I graduated was pay off the high interest rate loan I had (8%).

All I have left now is a loan at like 2% which costs me net like 50$ interest per year after you figure the difference between my savings interest rate and the rate I'm charged. I have no incentive to pay that one off early.
 
:coffee:
 
this is one of the effects of middle class pay basically remaining stagnant for decades. parents can no longer afford to save for their childrens education to the child is forced to accrue great debt to pay for it themselves.
 
Education in this country is way over priced. And anyone who has even taken one college class knows that the books are a complete rip off. You can end up paying $500 for a book. It's a complete joke, if you ask me.
 
Education in this country is way over priced. And anyone who has even taken one college class knows that the books are a complete rip off. You can end up paying $500 for a book. It's a complete joke, if you ask me.

that's the way it has always been. I remember paying $300 for certain books way back my freshman year in '86.
 
that's the way it has always been. I remember paying $300 for certain books way back my freshman year in '86.

I finished in 2003 and I was averaging $250 per book, and I'm sure they've went up since then.
 
Agree with LAM and Vortrit,

And this is the first time ever that student loan debt is larger than credit card debt, for the whole of the nation.

Now, just think about how big this is.


I was lucky, bein at Uni from 1998-93.

Absolute disgrace to the younger generation.

Like the one of the last quotes in that video:

"Education is the best investment you'll ever make."

And many companies, even companies hiring for job that don't involve security or finances are checking FICO scores.

If a young grad misses a payment or more in this economy, it's reflects on their credit.

When and why does a person's value as an employee in the job market depend on the FICO score? Car insurance, and other companies check it now.

The land of the all-might FICO score.

Luckily mine is high.
 
Agree with LAM and Vortrit,

And this is the first time ever that student loan debt is larger than credit card debt, for the whole of the nation.

Now, just think about how big this is.


I was lucky, bein at Uni from 1998-93.

Absolute disgrace to the younger generation.

Like the one of the last quotes in that video:

"Education is the best investment you'll ever make."

And many companies, even companies hiring for job that don't involve security or finances are checking FICO scores.

If a young grad misses a payment or more in this economy, it's reflects on their credit.

When and why does a person's value as an employee in the job market depend on the FICO score? Car insurance, and other companies check it now.

The land of the all-might FICO score.

Luckily mine is high.

It's like when they take someones drivers liscense for missing a child support payment.
 
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I'm back at school for one final semester and had to take out an $18,000 dollar loan this summer. I settled upon this dollar amount because that is what the school said it would cost to eat, live, buy books, and pay tuition.

Well, it turns out, that I didn't get nearly as much Fafsa-money as had been expected/predicted. Oh well, I guess I'll just have to cut back on grocery money and not furnish my apartment, right? Wrong. The school took all $18,000 dollars that was given to me by Chase Student Loans to pay off my bursar bill. When I went into the bursars office (after getting played like a fiddle going back and forth between the Student Loans office, the Bursars office, and Chase Student Loans) to ask where my check was with the difference so I could pay rent and eat (ya know, because eating and sleeping is something humans have to do), they said that there was no money to give to me.

So now... my bursar bill is paid off sans $300-plus dollars, but I have no long term plan as to how I'm going to pay my rent, eat... oh, and buying books for the semester? Well that's just completely out of the fucking question at this point.

My Mom has paid both August and September rent, and I made a couple thousand this summer which I've been using to buy food, but this whole situation sucks.

I'm pretty well off in comparison to the other horror stories I've heard, but this whole situation is fucked.

Welcome to the real world, kid! Fuck this bullshit...
 
LEt jsut say it its bushes fault:coffee:
 
I'm back at school for one final semester and had to take out an $18,000 dollar loan this summer. I settled upon this dollar amount because that is what the school said it would cost to eat, live, buy books, and pay tuition.

Well, it turns out, that I didn't get nearly as much Fafsa-money as had been expected/predicted. Oh well, I guess I'll just have to cut back on grocery money and not furnish my apartment, right? Wrong. The school took all $18,000 dollars that was given to me by Chase Student Loans to pay off my bursar bill. When I went into the bursars office (after getting played like a fiddle going back and forth between the Student Loans office, the Bursars office, and Chase Student Loans) to ask where my check was with the difference so I could pay rent and eat (ya know, because eating and sleeping is something humans have to do), they said that there was no money to give to me.

So now... my bursar bill is paid off sans $300-plus dollars, but I have no long term plan as to how I'm going to pay my rent, eat... oh, and buying books for the semester? Well that's just completely out of the fucking question at this point.

My Mom has paid both August and September rent, and I made a couple thousand this summer which I've been using to buy food, but this whole situation sucks.

I'm pretty well off in comparison to the other horror stories I've heard, but this whole situation is fucked.

Welcome to the real world, kid! Fuck this bullshit...

soxmucle,

Thanks for giving us a real-life take on this.

I assume you go to a public, state Uni (although I don't care).

So, $18K, they just take and put it to what they want?

But is complete bullsh*t.

How much in your opinion is tuition, books, food, and rent?

I'm just curious.
 
I finished my undergrad with little to no student debt thanks to my parents (less than 6k)...grad school was a completely different story.

in the end, my personal debt from education was about 85K (6%-8.5% interest on 4 different loans)...throw in another 25K from my wife and our student loan payments are almost as high as our mortgage. The only big difference with student is they can't repossess your degree, lol.

in all seriousness though, all federal loans will allow you to enter forbearance so you won't have to make payments and it won't hit your FICO score...but you can still expect accrue interest during these frozen pay periods.

higher educations costs are ridiculously outrageous. Nevermind books rackets (which are a joke as well), but the tuition alone is higher than the public even realizes. A standard state university (Assuming you are a resident of that state, therefore, getting the cheaper rate) is roughly 10K a year for a bachelors. You can double that for an advanced degree (JD, MD, MBA, MS, or MA).
 
I'm back at school for one final semester and had to take out an $18,000 dollar loan this summer. I settled upon this dollar amount because that is what the school said it would cost to eat, live, buy books, and pay tuition.

Well, it turns out, that I didn't get nearly as much Fafsa-money as had been expected/predicted. Oh well, I guess I'll just have to cut back on grocery money and not furnish my apartment, right? Wrong. The school took all $18,000 dollars that was given to me by Chase Student Loans to pay off my bursar bill. When I went into the bursars office (after getting played like a fiddle going back and forth between the Student Loans office, the Bursars office, and Chase Student Loans) to ask where my check was with the difference so I could pay rent and eat (ya know, because eating and sleeping is something humans have to do), they said that there was no money to give to me.

So now... my bursar bill is paid off sans $300-plus dollars, but I have no long term plan as to how I'm going to pay my rent, eat... oh, and buying books for the semester? Well that's just completely out of the fucking question at this point.

My Mom has paid both August and September rent, and I made a couple thousand this summer which I've been using to buy food, but this whole situation sucks.

I'm pretty well off in comparison to the other horror stories I've heard, but this whole situation is fucked.

Welcome to the real world, kid! Fuck this bullshit...


I'm not trying to be a dick here, but why don't you get a job? You act like you are incapable of paying rent and bills.
 
The educational system has devolved into a pile of shit. I wouldn't have a problem if there were more educating going on. I could go back in time and teach myself how to do my job in 6 months worth of on the job training. 5 or 6 years of garbage classes, burnout professors who don't know shit, theory out the wazoo with no application.

I college degree doesn't mean shit other than you are willing to play the game, and college robbed me of my youth while I chased a fucking carrot on a stick. Its all behind me know, and I can focus on my life, but I will end up spending what should have been a mortgage on a house to Sallie Mae for an education that was mostly bullshit.

Educators are just like politicians. THEY ARE FUCKING LIERS!
 
I worked full-time through college. The up-side is that I got out of college without any debt. The down-side is that I didn't have time to 'enjoy' the college atmosphere.
 
I worked full-time through college. The up-side is that I got out of college without any debt. The down-side is that I didn't have time to 'enjoy' the college atmosphere.

I worked full time, and many times two jobs, and still racked up 42,000 in student loans. Most of it is my fault. I was plenty smart enough to have gotten a full scholarship, but I was too busy acting like an assclown in high school to be bothered with actually trying. That combined with my parents never pushing me to make good grades really fucked me later on.

If you are a person who went to school on an academic scholarship, kiss your parents the next time you see them if they pushed you at all to make good grades in high school.
 
I'm not trying to be a dick here, but why don't you get a job? You act like you are incapable of paying rent and bills.

I work as a delivery driver at a local Falafel restaurant. I worked from 1-10 on Sunday and made $39 dollars on tips, plus $4's per hour. That rounds out to somewhere in between $8-9 dollars per hour, but it fucking sucks as far as pay goes.

People are cheap fucking heebs who tip like shit. Getting a dollar on a $20 dollar order isn't uncommon. I had some kike the other day ask for $.50 cents back on a $2 dollar tip. I told him "I only had dollars but if you want to scrounge around through my car, I'm sure you could find $.50 cents," to which he looked confused.

I shouldn't be ragging on Jews, because it's the middle eastern fucks who are the worst. Why am I ranting about it being common to get a dollar tip on a big order when it's even more common for some towel-headed fuck who's learning how to blow up my country to give me nothing, regardless of how big the order was. Fuck you Osama Jr... I hope your family back in the homeland gets blown up by some radical, uneducated, crazy piece of shit...

Tip your fucking delivery drivers people! You cheap cocksucking motherfuckers!
 
I work as a delivery driver at a local Falafel restaurant. I worked from 1-10 on Sunday and made $39 dollars on tips, plus $4's per hour. That rounds out to somewhere in between $8-9 dollars per hour, but it fucking sucks as far as pay goes.

People are cheap fucking heebs who tip like shit. Getting a dollar on a $20 dollar order isn't uncommon. I had some kike the other day ask for $.50 cents back on a $2 dollar tip. I told him "I only had dollars but if you want to scrounge around through my car, I'm sure you could find $.50 cents," to which he looked confused.

I shouldn't be ragging on Jews, because it's the middle eastern fucks who are the worst. Why am I ranting about it being common to get a dollar tip on a big order when it's even more common for some towel-headed fuck who's learning how to blow up my country to give me nothing, regardless of how big the order was. Fuck you Osama Jr... I hope your family back in the homeland gets blown up by some radical, uneducated, crazy piece of shit...

Tip your fucking delivery drivers people! You cheap cocksucking motherfuckers!

Always tip well. Take it from an ex-waiter. People in the service industries earn every penny. Hope things get better for you Soxmuscle. I sympathize with your situation.
 
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Oh wait, I actually made below minimum wage on Sunday when you factor in the fact that I just spent almost $30 dollars to fill up my tank.

It's pretty hit or miss. Some week days I'll make more money from 6-9, than I do all day on Sunday.
 
Always tip well. Take it from an ex-waiter. People in the service industries earn every penny. Hope things get better for you Soxmuscle. I sympathize with your situation.

My views on tipping have changed drastically since I started working this job. Mainly delivery drivers, I've always tipped 20%, sometimes more, if I'm sitting down inside a restaurant (mainly to impress a chick). But delivery drivers get shafted.

We're right next to a Jimmy John's and I hear those kids complain a lot about their tips. $5.55 for a sandwich, some asshole will give them $6 dollars. And for the most part, they're riding their bikes to make these deliveries. Brutal.
 
I worked full time, and many times two jobs, and still racked up 42,000 in student loans. Most of it is my fault. I was plenty smart enough to have gotten a full scholarship, but I was too busy acting like an assclown in high school to be bothered with actually trying. That combined with my parents never pushing me to make good grades really fucked me later on.

If you are a person who went to school on an academic scholarship, kiss your parents the next time you see them if they pushed you at all to make good grades in high school.

So true.

I was able to get B's and C's with ease (I'm a poet and I definitely did know it) in High School, and that pleased my parents. Obviously, A's were what they preferred, but they didn't push me to be that A student I have the potential to be, which is what's needed for grants/scholarships.
 
My views on tipping have changed drastically since I started working this job. Mainly delivery drivers, I've always tipped 20%, sometimes more, if I'm sitting down inside a restaurant (mainly to impress a chick). But delivery drivers get shafted.

We're right next to a Jimmy John's and I hear those kids complain a lot about their tips. $5.55 for a sandwich, some asshole will give them $6 dollars. And for the most part, they're riding their bikes to make these deliveries. Brutal.

Yep-I think anyone who has worked for tips has a whole different viewpoint. Tipping decently is the only way to go. I see what you mean about delivery drivers, a lot of people assume they all get paid like UPS or FedEx guys. A lot of ignorance out there.
 
I worked full-time through college. The up-side is that I got out of college without any debt. The down-side is that I didn't have time to 'enjoy' the college atmosphere.

My girlfriends roommate is a manager at Nordstroms on top of being a student, and I personally believe that her parents should be ashamed of themselves.

She stopped being a kid the moment she graduated high school and was left to fend for herself, instead of having a 'grace' period to learn various life experiences which I couldn't be happier for experiencing.

Obviously, there was some bad aka my underage drinking arrest, but there was a whole lot of good, and though I haven't completely figured myself out, I have a much better understanding of who I am than my girlfriends roommate as a result of this grace period.

It's far too extreme to be living in your parents house, getting everything paid for, etc. only to move into college, have that door shut behind you and have these unrealistic expectations placed upon you.

I get the approach, that by doing everything for yourself, you're learning how the real world works, but I don't think it's the appropriate method to take.

So she can plunge her toilet when she takes a massive dump, or do her laundry, or clean her dishes.. big fucking deal. That shit is self explanatory, especially in comparison to what you can learn in college by being a normal student like everybody else.
 
Yep-I think anyone who has worked for tips has a whole different viewpoint. Tipping decently is the only way to go. I see what you mean about delivery drivers, a lot of people assume they all get paid like UPS or FedEx guys. A lot of ignorance out there.

There's a $1.50 delivery fee at my restaurant and most places have these/something similar. What people don't understand is that I'm not getting any of that $1.50 per order, the restaurant is. And if they really think $1.50 is an appropriate tip anyways, they're fucking assholes.
 
The educational system has devolved into a pile of shit. I wouldn't have a problem if there were more educating going on. I could go back in time and teach myself how to do my job in 6 months worth of on the job training. 5 or 6 years of garbage classes, burnout professors who don't know shit, theory out the wazoo with no application.

I college degree doesn't mean shit other than you are willing to play the game, and college robbed me of my youth while I chased a fucking carrot on a stick. Its all behind me know, and I can focus on my life, but I will end up spending what should have been a mortgage on a house to Sallie Mae for an education that was mostly bullshit.

Educators are just like politicians. THEY ARE FUCKING LIERS!

Well said :clapping:

It would be naive to say that I didn't build a good foundation in school years ago, but I can honestly say that I learned more on my own, through television, the internet, etc. than I ever learned in school.
 
soxmucle,

Thanks for giving us a real-life take on this.

I assume you go to a public, state Uni (although I don't care).

So, $18K, they just take and put it to what they want?

But is complete bullsh*t.

How much in your opinion is tuition, books, food, and rent?

I'm just curious.

My Dad and Mom split the bill, along with my Fafsa money that I will be paying back.

My Dad didn't pay his share on time (my sophomore year, I couldn't sign up for classes because my Dad didn't pay, hence why I'm still here), so I had like $5,000 still on my Bursar bill that he would eventually pay.. he always does, even if he procrastinates.

Indiana University, who has taken over $200,000 dollars of my parents money (my older brother went here as well), chose to take all of the money that I got via the loan because my Dad still hadn't paid in-full for last spring, basically stating that getting their money is more important than my ability to eat and pay rent.

Now, I have good parents who are helping me out, but what about some Indiana hick who grew up on a farm and doesn't have that luxury?

How is that kid supposed to make money to eat and live?

Jobs don't grow on trees here in the booming Bloomington economy.
 
I work as a delivery driver at a local Falafel restaurant. I worked from 1-10 on Sunday and made $39 dollars on tips, plus $4's per hour. That rounds out to somewhere in between $8-9 dollars per hour, but it fucking sucks as far as pay goes.

People are cheap fucking heebs who tip like shit. Getting a dollar on a $20 dollar order isn't uncommon. I had some kike the other day ask for $.50 cents back on a $2 dollar tip. I told him "I only had dollars but if you want to scrounge around through my car, I'm sure you could find $.50 cents," to which he looked confused.

I shouldn't be ragging on Jews, because it's the middle eastern fucks who are the worst. Why am I ranting about it being common to get a dollar tip on a big order when it's even more common for some towel-headed fuck who's learning how to blow up my country to give me nothing, regardless of how big the order was. Fuck you Osama Jr... I hope your family back in the homeland gets blown up by some radical, uneducated, crazy piece of shit...

Tip your fucking delivery drivers people! You cheap cocksucking motherfuckers!

Totally agree, especially if I know it's a student.

Spot-on post, sox. Spot-on.
 
And P.S. soxmuscle,

I do get the impression that you have writing talent. Even though this is a casual forum, you've got the knack.

You noted you were into poetry.

I hope you are still working on poetry (and/or writing) if it interests you.
 
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