Debt Forgiveness

Student Loan Forgiveness

Off the microphone of RE

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Aired on the Doomstead Diner on April 24, 2014

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Discuss at the Podcast Table inside the Diner

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Snippet:

…Problem of course is that as time went by, there were lots of graduates who couldn’t pay up, and more all the time these days as the economy circles the tidy bowl. Besides that, as more students now had more money to buy an education courtesy of these loans, the institutions started jacking up the prices and the cost to get one of these Sheepskins has gone up about 1000% since I jumped through the hoops 30 years ago. You can’t “work your way” through school anymore, you would have to work 2 jobs to pay a full tuition and room and board, leaving no time to actually attend class. If you cut down the number of classes to take to what you could afford pay as you go, just to get an Undergrad degree would take you 10-15 years, forget doing Grad Skule. Good luck getting a job as a College Grad with no experience at 30 years old.

The expectation here for the student is that if you get one of these Valuable Sheepskins, there will be a Job waiting for you that will launch you into the upper middle class that used to exist, but as time has gone by fewer of these jobs have been available to get while more people graduated qualified for them. This isn’t just a problem in the FSoA, it’s been a long standing problem in China and the old Soviet Union also, where there are tons of folks with Ph.D.s working clerical and sales jobs because there is nothing available in their area of expertiese.  At least in those countries though under the Commie system, they didn’t graduate with a debt load the size of K2…

For the rest, LISTEN TO THE RANT!

RE

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