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That doesn't explain why Jen or Karyn in the article took out large loans for vanity degrees. People make bad decisions at every age. The way to fix this probl

That doesn't explain why Jen or Karyn in the article took out large loans for vanity degrees. People make bad decisions at every age. The way to fix this problem is to make colleges suffer penalties for loan defaults. Then maybe they would think twice about selling onw year vanity grad degrees for $50K to people who can't afford it.

SketchySeaBeast 8y ago
Jen went into her masters for public policy. How is that a vanity degree? That sounds like a "not sexy but it should get me a job" degree. Who is Karyn, I don't see her in the article at all - there's a Kathryn, but she was a teacher, clearly a non-vanity degree.
- pnw_hazor 8y ago
  Sorry I meant Kathryn. "[]Kathryn, a 35-year-old with $118,000 in debt from a degree in museum studies[]." A 1-year masters degree in public policy from an Ivy is a vanity degree. (as indicated by Jen's current situation)
  - SketchySeaBeast 8y ago
    Ok, yeah, Kathryn's seems a bit spurious. >Jen enrolled in a one-year master’s program in public policy at an Ivy League university, where, despite having small scholarships and participating in work-study programs, she accumulated an additional $50,000 in federal loans. But by the time she graduated, the economy still hadn’t recovered, and she struggled to find work. She deferred her loans (meaning she did not have to make payments, and no interest accrued) and when the deferment period ran out, she put them in forbearance (during which payments are suspended, but interest does accrue). In 2010, she found a job — only to be laid off, again, two years later. She managed to find a contract gig that put her to work three days a week, and consolidated her loans into a single loan that would be easier to manage. I don't know how not being able to find a job in 2008 and then finding a job but being laid off and then having a stroke qualifies as her earning a vanity degree.
    - pnw_hazor 8y ago
      The stroke came after the poor choice. Jen's case is also a bit spurious -- hers sounds like more of a healthcare/safety net issue than a student debt issue. If the crisis is so dire, why do articles like this highlight victims that few will sympathize with. Maybe the author doesn't know any normal people. Maybe they should highlight people like my daughter who intentionally chose a local state school rather than an expensive out-of-state or private school and selected a pragmatic STEM degree.
      - SketchySeaBeast 8y ago
        > Maybe they should highlight people like my daughter who intentionally chose a local state school rather than an expensive out-of-state or private school and selected a pragmatic STEM degree. Did your daughter pay for her schooling all by herself? And which letter in the acronym? I'd argue that the S and M might not be guaranteed to get you a job either. It's really just "TE" jobs at best.
        pnw_hazor 8y ago
        Honors college CS major. I am paying but she did not know that I would until after she committed. I told her I expect to be paid back in full -- we will see how that works out. I think with room and board it is costing us around $22K per year.
watwut 8y ago
Majority of students go for various business degrees. People love to focus on those with impactically sounding degrees, but that is not the bulk of students.

SketchySeaBeast 8y ago

Jen went into her masters for public policy. How is that a vanity degree? That sounds like a "not sexy but it should get me a job" degree. Who is Karyn, I don't see her in the article at all - there's a Kathryn, but she was a teacher, clearly a non-vanity degree.

pnw_hazor 8y ago
Sorry I meant Kathryn. "[]Kathryn, a 35-year-old with $118,000 in debt from a degree in museum studies[]." A 1-year masters degree in public policy from an Ivy is a vanity degree. (as indicated by Jen's current situation)
- SketchySeaBeast 8y ago
  Ok, yeah, Kathryn's seems a bit spurious. >Jen enrolled in a one-year master’s program in public policy at an Ivy League university, where, despite having small scholarships and participating in work-study programs, she accumulated an additional $50,000 in federal loans. But by the time she graduated, the economy still hadn’t recovered, and she struggled to find work. She deferred her loans (meaning she did not have to make payments, and no interest accrued) and when the deferment period ran out, she put them in forbearance (during which payments are suspended, but interest does accrue). In 2010, she found a job — only to be laid off, again, two years later. She managed to find a contract gig that put her to work three days a week, and consolidated her loans into a single loan that would be easier to manage. I don't know how not being able to find a job in 2008 and then finding a job but being laid off and then having a stroke qualifies as her earning a vanity degree.
  - pnw_hazor 8y ago
    The stroke came after the poor choice. Jen's case is also a bit spurious -- hers sounds like more of a healthcare/safety net issue than a student debt issue. If the crisis is so dire, why do articles like this highlight victims that few will sympathize with. Maybe the author doesn't know any normal people. Maybe they should highlight people like my daughter who intentionally chose a local state school rather than an expensive out-of-state or private school and selected a pragmatic STEM degree.
    - SketchySeaBeast 8y ago
      > Maybe they should highlight people like my daughter who intentionally chose a local state school rather than an expensive out-of-state or private school and selected a pragmatic STEM degree. Did your daughter pay for her schooling all by herself? And which letter in the acronym? I'd argue that the S and M might not be guaranteed to get you a job either. It's really just "TE" jobs at best.
      - pnw_hazor 8y ago
        Honors college CS major. I am paying but she did not know that I would until after she committed. I told her I expect to be paid back in full -- we will see how that works out. I think with room and board it is costing us around $22K per year.

watwut 8y ago

Majority of students go for various business degrees. People love to focus on those with impactically sounding degrees, but that is not the bulk of students.