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It seems like the majority of the commenters here are missing the point. The huge overhang of student loan debt is not a result of kids who go to a four year co
by magnusss 8y ago
It seems like the majority of the commenters here are missing the point. The huge overhang of student loan debt is not a result of kids who go to a four year college, graduate with an unmarketable degree in philosophy, fall on hard times and then default. It's kids who go to barber school (and the like) taking on $30k of debt, then realizing they don't make enough money cutting hair to support themselves, much less pay back a loan. There's a huge population of people like that.
Source: https://www.ed.gov/news/press-releases/us-department-education-releases-national-student-loan-fy-2014-cohort-default-rate https://www.ed.gov/news/press-releases/us-department-educati...
- njarboe 8y agoOr going to college for a year or two, drop out, and have no degree with $30k debt.
- anjc 8y ago> There's a huge population of people like that. The problem is the lender, surely
- alistairSH 8y agoThe problem is that the lender exists in the first place. Becoming a barber shouldn’t require a five-figure investment. At most, it should be a few weeks of classroom and “lab” training, followed by a short apprenticeship.
- raesene9 8y agoJust in case this is useful to anyone else. I had no idea that there was such a thing as "barber college" where the expected cost of the programme was $42k (including living expenses) but https://larrysbarbercollege.com/wp-content/uploads/2018/05/Catalog-104-website-5.18.pdf https://larrysbarbercollege.com/wp-content/uploads/2018/05/C... there you go. And it's noticable how heavily they push federal financial aid for students https://larrysbarbercollege.com/financial-aid/ https://larrysbarbercollege.com/financial-aid/