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Student Loans Are a Massive, Generational Scam

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Student Loans Are a Massive, Generational Scam
« on: Oct 19, 2018, 03:07:18 am »
 

EvadingGrid

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Here's Fresh Evidence Student Loans Are a Massive, Generational Scam
http://www.vice.com/en_us/article/pa9899/heres-fresh-evidence-student-loans-are-a-massive-generational-scam


'Over the centuries, America has bestowed generous, state-sponsored privileges upon select classes of its citizens. Veterans and old people get free socialized healthcare—and, for the most part, they love it. Corporations (who count as people, look it up) get sweet tax breaks and, in the case of defense contractors, no-bid deals to build extremely expensive weapons unlikely to be used in the near future. And young people get thousands and thousands of dollars of student loans to pay for college, putting them in a hole they might spend the rest of their lives digging out of.

Obviously, one of these things is not like the others—the United States has put many students in the position of making decisions that can determine their financial futures when they're teenagers. This has nightmarish consequences: Some 44 million people have $1.5 trillion in student loan debt on the books. And even when young people do get through college and find a decent job, many can't fathom possibly buying a home or taking on other trappings of adulthood when faced with decades of monthly loan bills. Spam_A Spam_B The worst part is that those who sought an elite education on the widely accepted notion that it would help them later in life were basically sold a bad bill of goods.

All that debt provides awfully little payoff in terms of boosted wages, even as it ensnares more and more people and hits youth of color especially hard, according to a new paper released Tuesday by two researchers at the left-leaning Roosevelt Institute. Research fellows Julie Margetta Morgan and Marshall Steinbaum concluded that more and more debt hasn't significantly boosted income for college grads—it just seems that way because high school grads without BAs are making less than they once did. They also found that looking at decent rates of repayment by student debtors is a misleading way to look at the scale of this crisis. And thanks to workers lacking the power they once enjoyed in an increasingly skill-obsessed economy, young people are often being pressured into getting extra degrees on their own dime (which is to say by taking on more debt) for minimal payoff.'



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Last Edit by Humphrey
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Re: Student Loans Are a Massive, Generational Scam
« Reply #1 on: Oct 19, 2018, 08:02:31 am »
 

poseidonlost

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The bigger scam is what this article is trying to push. I saw it coming from a mile away. Right at the end of the article. A free college education. Classic Hegelian. Part of the whole reason for all of this.

And the people of color thing.  >:( Bollocks. (Am I using that correctly? lol) In general, it should be understood that non-whites would use these loans more often, but don't anyone for one second believe it affects them more than when a white person signs up for one of these loans. I know people who can't save much at all. And what are they saving for? A mortgage? For a house made of match sticks? At best 3,000 sq. ft. of flood, fire, and wind damage prone shells. All while everyone is forced by the barrel a gun to buy certain products and government licenses and shovel money into socialist black holes like social security and the public school system that brainwashed them into going into debt for more brainwashing in college.

The solution? Pay more taxes so everyone is special with a now literally worthless college degree.

College. The worst thing in this country for so many reasons.



Last Edit by Humphrey
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