Video game of Loans|5 Minute Video
Why does student financial obligation keep going up and up even as it’s harder and harder to discover an excellent job with a college degree? And why does it appear that the more aid the government and colleges give, the less it assists?
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Script:
I’m thinking you’ve become aware of the well-known TV program “Game of Thrones.” Seven kingdoms competing for power, plots within plots, watch your back or lose your head. It’s terrific.
You’ve probably never ever heard of a genuine life drama that I call the “Game of Loans.” That’s a game Washington political leaders play on young people, that is, college students, every day.
Much like “Game of Thrones,” the “Game of Loans” has plots within plots, big losers and big winners.
The winners are political leaders and colleges. They deceive students into thinking that by kindly providing ever-larger college loans to cover ever-larger tuition expenses, they have made students’ votes at election time. Why do I say students are tricked? Because it is thanks to the very politicians who assure trainees increasingly more help– in league with the colleges– that college tuition ended up being so pricey in the first place.
Here’s how the game works.
According to Bloomberg News, since 1978 the cost of a college education has actually gone up by over 1000 percent. Tuition alone at numerous colleges is 20, 40, even 50 thousand dollars a year! You do not have to be a finance significant to figure out that all these student loans provide colleges no incentive to cut expenses.
Now if students were going to college in record numbers to study engineering or computer system science or biology– occupations with high work rates– possibly these crazy sums would make some sense. Not surprisingly these majors have really high joblessness rates, as in, they do not prepare you for a task. You can get a degree in storytelling, bag piping and puppet arts for your fifty thousand a year.
Here’s the point: colleges are no longer mainly about preparing you for a profession. Today’s college has to do with teaching you what a horrible country America is, social advocacy … and binge drinking. Hey, if college didn’t cost so much the parties might be worth it, but it does.
A large portion of the 1.3 trillion dollar trainee loan liability is held by ex-students who never finished. For every 100 students who go into a four- year college just 59 exit with a degree.
You got a service degree and you discovered a good task. Chances are you’re paying off your student loans and will be for the next 10, 20 or even 30 years!
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source
Why does trainee debt keep going up and up even as it’s harder and more difficult to find a good task with a college degree? They deceive students into thinking that by kindly offering ever-larger college loans to cover ever-larger tuition costs, they have made trainees’ votes at election time. Because it is thanks to the really political leaders who assure trainees more and more aid– in league with the colleges– that college tuition became so costly in the first location.
You don’t have to be a financing significant to figure out that all these trainee loans give colleges no reward to cut expenses. Now if students were going to college in record numbers to study engineering or computer science or biology– professions with high work rates– perhaps these insane sums would make some sense.
