Forum Discussion
DutchmenSport
May 26, 2017Explorer
Just a side note, and this response will probably get deleted, but you REALLY have to realize, the lending institution is not the cause for student loan debt. If it were not for the lending institution, almost no one would be able to get higher education, anywhere.
The real cause of student loan debt is the cost of education (it's the colleges and universities that are charging to so much). If they didn't charge so much, students wouldn't have to pay so much. If they didn't have to pay so much, they wouldn't have to borrow so much. If they didn't have to borrow so much, they wouldn't be in debt so much when they graduate.
The second cause of student loan debt and the inability to pay back the loan is because too many young people don't realize the cost they are paying for the education, simply does not pay that much in the real world.
People who spend a fortune getting an art degree (hoping to become a graphic artist for Xbox, Play Station, or even Disney or Pixar are really gambling as the competition is so steep, the chances of them landing a position is about zero percent. (My son has a life-time long friend that is exactly in this boat, still hoping to work for Pixar or Disney ... but was one of those fortunate ones that was able to pay for his education as he went. He's now 31 years old and STILL can't get a foot in the door.)
One would think veterinarian service would be a lucrative profession, especially with the changed attitude that pets are family and not just next weeks Sunday noon dinner. But our society is changing so fast, it pays to do some REAL research before plopping $100K on an education that you may never use.
Not to mention, all those who think they want to go into a specific profession, and when they actually get there, they hate it, and end up doing something else completely the opposite! (I'm one of those... did "it" for over 20 years, and took that long to finally realize ... I don't like doing this at all ... so I changed. I'm in "IT", Information Technology now. It has absolutely nothing to do with what I went to college for! But my student loans were paid off in 1985!)
So, just to clarify, the "indebtedness" of a student loan is not the lending institutions fault. The "fault" lays squarely on the college's high cost and the students lack of future foresight.
The real cause of student loan debt is the cost of education (it's the colleges and universities that are charging to so much). If they didn't charge so much, students wouldn't have to pay so much. If they didn't have to pay so much, they wouldn't have to borrow so much. If they didn't have to borrow so much, they wouldn't be in debt so much when they graduate.
The second cause of student loan debt and the inability to pay back the loan is because too many young people don't realize the cost they are paying for the education, simply does not pay that much in the real world.
People who spend a fortune getting an art degree (hoping to become a graphic artist for Xbox, Play Station, or even Disney or Pixar are really gambling as the competition is so steep, the chances of them landing a position is about zero percent. (My son has a life-time long friend that is exactly in this boat, still hoping to work for Pixar or Disney ... but was one of those fortunate ones that was able to pay for his education as he went. He's now 31 years old and STILL can't get a foot in the door.)
One would think veterinarian service would be a lucrative profession, especially with the changed attitude that pets are family and not just next weeks Sunday noon dinner. But our society is changing so fast, it pays to do some REAL research before plopping $100K on an education that you may never use.
Not to mention, all those who think they want to go into a specific profession, and when they actually get there, they hate it, and end up doing something else completely the opposite! (I'm one of those... did "it" for over 20 years, and took that long to finally realize ... I don't like doing this at all ... so I changed. I'm in "IT", Information Technology now. It has absolutely nothing to do with what I went to college for! But my student loans were paid off in 1985!)
So, just to clarify, the "indebtedness" of a student loan is not the lending institutions fault. The "fault" lays squarely on the college's high cost and the students lack of future foresight.
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