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Interesting quotes from the article: "Two thirds of students who graduated in the last nine years and whose debt matches or exceeds the national average do not
by randomname2 11y ago
Interesting quotes from the article:
"Two thirds of students who graduated in the last nine years and whose debt matches or exceeds the national average do not believe their degree was worth the cost."
Gallup’s executive director for education and workforce development Brandon Busteed speaking to the WSJ:
“When you look at recent graduates with student loans it gets really ugly, really fast. If alumni don’t feel they’re getting their money’s worth, we risk this tidal wave of demand for higher education crashing down.”
As Bill Ackman had warned:
"When asked if he was concerned about bubbles forming in debt markets as central banks around the world continue to keep interest rates near zero, Ackman cited student loans as his biggest concern.
“If you think about the trillion dollars of student loans we have outstanding, there’s no way students are going to pay it back,” Ackman said. He foresees a future where debt-laden students protest government officials, leading to some form of forgiveness.
The $1.3 trillion in student loan debt outstanding in the U.S. has drawn parallel among some investors to the subprime mortgage bubble of the mid-t0-late 2000s."
- the_watcher 11y agoI really don't like the idea of loan forgiveness (despite being a potential beneficiary), but I really do expect there to be a tipping point soon.
- Falkon1313 11y agoEven for predatory lending? Our culture basically tells kids that they have to do this or else. Preying on vulnerable kids who are just getting out on their own for the first time and do not have any experience dealing with finances on their own in the real world over long terms.
- the_watcher 11y agoI understand the issues very, very well. I have student loans and grew up in the current generation. I'd benefit substantially. I don't like the idea of it (unless it came with compensation for those who did pay theirs off, even if it's less compensation - maybe some kind of tax credit?), but I agree that we're getting closer and closer to the point where the issues with forgiveness are simply overwhelmed.