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College Used to Be the American Dream -- Now It's the American Nightmare

Business  (tags: americans, education, news, THE BUSINESS OF COLLEGE LOANS, college loans, society, politics, ethics, dishonesty, news, business, finance, usa )

- 1999 days ago -
Escalating delinquency rates make student loans look like the new subprime.

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Cheryl O (82)
Monday December 3, 2012, 2:35 am
I believe collage is the BIGGEST SCAM in the history of the world. You spend four years at a university say, once you are out IF you find a job you are paying a student loan off half your life, making it so that you are worse off then if you would have just taken a job for minimum wage. I know this isn't so for ALL, but for most it is. Now you are four years behind all the while the ones who hadn't went to college are just beginning and now behind the rest that didn't spend tens of thousands of dollars on college. What is worse is a large percentage of the unemployed are college grads. It's really insane. TY cal

Cheryl O (82)
Monday December 3, 2012, 2:36 am
Forgive the huge error in my grammar, I type faster then I think sometimes, LOL

Past Member (0)
Monday December 3, 2012, 3:30 am
At one time higher education meant something because not everyone went. Too bad tthe US has not devised a system like what Germany uses, it makes a lot more sense. Of course, you could spend much less on a University education by being a little smarter.

David C (29)
Monday December 3, 2012, 6:29 am
We in the UK are being taken down the same road by people that got their higher education free.

Gloria picchetti (304)
Tuesday December 4, 2012, 8:52 am
I run into a lot of young people who can't get through a year on their apartment leases without moving in with friends or their parents. No matter what they do, college or work, life in the USA is hell.

Stephen Brian (23)
Sunday December 9, 2012, 7:40 pm
Yup, a lot of people have been saying this for years. The AlterNet article, however, made two significant mistakes:

First, there is the politically motivated "mistake": Conservatives do not alternate between calling universities socialism-indoctrination camps and blaming unemployment on an unskilled population. There is no contradiction between the two statements. Conservatives have generally been correct on this issue, and thoroughly ignored by liberals, for a long time, something that probably will never be written in AlterNet. The problem is that social science-education and humanities-education, in many institutions, is abused for political indoctrination. Those fields do prepare students for careers, but the economy does not demand nearly as many workers in those fields as there are students. These fields often include roughly half of all students in many major universities, but the economy demands more technically educated people, with backgrounds in STEM-related fields, and non-professional skilled workers whose education need not involve universities at all.

Second, university was not traditionally part of the American Dream. One did not always have to go to college to prosper in the U.S. The need for college is an artificial result of a specific backfiring section in the labour-code which was intended to stop discriminatory hiring-practices. You don't have to go to college to become an electrician, but a professor I work for recently ran the numbers and realized electricians in the area make more money than he does. Technical jobs are as lucrative, or almost, as many jobs which currently require a university-education, but do not have the $100,000 cost. A family can rise out of poverty if its members realize they don't really need college to do that. Of course, due to the problem in the labour-code, it is very difficult to find a job with serious advancement-prospects without attending college.
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