Student Loan Defaults Increase, Again

The Department of Education reports that delinquencies on student loans continue to increase. And the stream of defaults is expected to pick up speed as the DOE begins taking in a wider view of the student loan universe:

The draft FY 2008 national student loan cohort default rate is 7.2 percent. The draft rate increased from the national FY 2007 official rate of 6.7 percent and the national FY 2006 official rate of 5.2 percent.

The FY 2008 draft cohort default rates represent the percentage of borrowers in the Federal Family Education Loan and William D. Ford Federal Direct Loan programs who began repaying their loans between Oct. 1, 2007, and Sept. 30, 2008, and who defaulted on or before Sept. 30, 2009.

Starting in 2014, the Department will begin surveying student loan performance based on a three-year rather than a two-year window. This is expected to give a substantial bump to the default figures.

In the June issue of Reason, out on newsstands now, I make the comparison between subsidized student loans and another universe of publicly underwritten debt: real estate. Americans have had an appetite for both education and real estate pretty much since the founding of the republic. There is no reason for taxpayers to fund markets for which there is always strong demand. The results of government involvement are both dire and predictable: skyrocketing tuition, overburdened graduates, really naive overburdened graduates looking for more handouts, bogus political grandstanding, and a higher education bubble that may now be in the process of popping.

The Treasury Department's recent move to direct lending rather than underwriting of privately issued debt will not solve any of these problems. The solution is to get the taxpayers out of the business of subsidizing higher education.

Comments

[Anonymous Backstabber]

Another the-sky-is-falling rant from Cavanaugh. What a bunch of bull.

I should know, I just got my BfD in Real Estate. Ask me how!

http://www.homepricesalwaysrise.com

[Curious George Bush]

You just got your Butt Fucking degree?
(BfD)
I know how you got your butt fucking degree, so therefore I wont ask. Did you give or receive?

[MNG]

" The results of government involvement are both dire and predictable: skyrocketing tuition, overburdened graduates, really naive overburdened graduates looking for more handouts, bogus political grandstanding, and a higher education bubble that may now be in the process of popping."

Oh, you forgot one: the dramatic increase in educational opportunities and the resulting dramatic increase in human capital that powers our mighty economic engine...

[Anonymous Backstabber]

Yeah! What he said!

[John Thacker]

the dramatic increase in educational opportunities and the resulting dramatic increase in human capital that powers our mighty economic engine...

If tuition and spending increases at the same rate or higher than the aid, the only "dramatic increase in educational opportunities" is the increase in the rents extracted by the educational industry.

If the college educations don't really add that much human capital, then encouraging everyone to go to college (and legally forbidding employers from using other methods of testing people's aptitude) only locks people out of jobs if they don't have the proper credential.

Your argument, MNG, is like saying that the housing bubble must have been great since it got all these people these nice houses.

[Ted S.]

I'd also add that we've ended up with credentialism, in that lots of jobs that a generation ago could be done by a high-school graduate now "require" a college diploma.

[MNG]

John
Don't many more people go to college and high school now? And that trend carefully tracks increased subsidization? Yep and yep.

Are you really going to argue that the increase in education happened DESPITE the increased subsidization that went on alonside it?

And do you want to argue no connection between increased education and human capital?

As to the IQ test thing implied, we won't argue there. I'd like employers to be allowed to use such test. the Bell Curve is a fav of mine.

[Groovus Maximus]

As to the IQ test thing implied, we won't argue there. I'd like employers to be allowed to use such test. the Bell Curve is a fav of mine.

This may shock you MNG, but we are in agreement here. I do believe firmly that this is the educational elephant in the room. People have been suckered into believing that a college degree is equivalent to intelligence, where a college degree is really a measure of tenacity as opposed to a measure of aptitude. Desire can overcome intellectual disparity, but often takes more remedial training to "bring those behind to the norm." Which is why I attack quotas in college admissions so vociferously; it is a very inefficient use of resources when meritocracy should be the de facto standard.

[Ivan]

Groov Max, You are absolutely right. The tenacity that you speak of can become very destructive when the person who possess it without the intellect achieves a position of authority and/or influence. I have seen it many times where edicts issued on rote learning rather than on knowledge are not only costly fiscally but also devastating on the humanitarian side.

[Ivan]

Second sentance should read:
The tenacity that you speak of can become very destructive when the person who possess it lacks intellect and achieves a position of authority and/or influence. (I'm sorry, it is tequila Tuesday)

[Turnkey]

On the other hand, being able to churn through numbers by rote and mindlessly look for relationships can be a good thing.

Intelligence is not strictly an asset for all jobs, and some of the lamer sides of college (busy work, paper output) can be more relevant than creativity and insight.

[Groovus Maximus]

Intelligence is not strictly an asset for all jobs, and some of the lamer sides of college (busy work, paper output) can be more relevant than creativity and insight.

This is exactly my point, and it starts with K12: the notion that any child can be anything they want with the expectation that they will be able to succeed in life regardless of inherent ability is pure bunk. I think this is dangerous and a form of child abuse, placing the notion that being astute at taking sub-standard academic tests somehow makes them a genius with "all the potential in the world." It sets the stage for a lifetime of unrealistic expectations, and Jeebus knows no parent wants to hear from an honest teacher that their darling little germbag is a moron. Not every child has the capacity or interest to learn Calculus or grasp the nuances of formal logic, no matter how much remediation is applied. Or at the very least, that maybe college really isn't the best option for them and perhaps a technical or trade school is the best path, with emphasis on marketplace orientation. I place blame squarely at the social engineering bleeding heart's feet and their inherent hostility to a marketplace mindset and emphasis on "It Takes a Village."

The flip side of this argument is perhaps the child hears that "he/she isn't good enough" and maybe lights a fire under the child, thinking "Oh yeah, I'll show you!" and is motivated and then applies his/her self but gains an accurate assessment of his/her aptitudes and abilities through success and failure. Yes, desire can make up for shortcomings, but I submit those children are drawing on inherent abilities already present and congruent with the child's interests.

In short, not every child is cut out to be a doctor, lawyer, accountant, database engineer, or even a collegiate librarian, just as every child is not suited for sports, fine art, or entertainment. I wish I could distill Simon Cowell's honesty and inject it in every teacher.

[I wish]

I could inject Paula's encouragement

[Groovus Maximus]

Encouragement is key, agreed. Do not misunderstand, just as long as the encouragement is of a realistic goal. Nature v. nurture, the theory that will never be resolved and confounded by exception.

[Jorgen]

The problem with this is you thinking that you or teacher x could tell what a student's abilities are so well that you can tell them what they are and aren't capable of.

[capitol l]

I knew someone had to be awake, to bad it had to be you Dr. Giggles.

Just joking, of course.

Regarding your comment, how about we finally abolish the myth of intellectual superiority in the liberal arts as opposed to trades. And I know that most here, including you Groovus, would agree that a mechanic or electrician uses more of their brain than the one with the mfa.

I would argue though that trades are perceived as last resort type occupations to those that couldn't hack learning sociology or some other nonsense.

I have more to say(ramble) about this comment, but will wait for a response, as not to lecture to an empty auditorium.

[Groovus Maximus]

And I know that most here, including you Groovus, would agree that a mechanic or electrician uses more of their brain than the one with the mfa.

Not necessarily more, just different areas. But I am with you that a mechanic or an electrician would use more as their professions are very tactile and didactic, particularly if they own their own business as opposed to a garage employee. The ivory tower MFA, probably not so much.

BTW, my father was a mechanic and damn good one. Very smart fellow, but has a habit of over-estimating his expertise in areas with little practical knowledge. And his sense of asthetics is nil. His philosophy is "it may not be pretty, but damn if isn't functional." A very practical man.

[capitol l]

Aesthetics, including all things that are a matter of taste, can't be taught. Also, there is no standard to evaluate the work of a critic or deconstructionist. A mechanic on the other hand has a very high standard, which is "Does his work work?". If not he fails, on the other hand, an aesthete can pontificate to his heart's content and his only backup is the phd he received for pontificating.

This is all an aside to my main point, that being in a trade doesn't indicate a lack of intellect, which is the popular perception. Also, why are trade schools meant for kids who are "not meant to be..."? The language itself is denigrating.

[Groovus Maximus]

Also, why are trade schools meant for kids who are "not meant to be..."? The language itself is denigrating.

This. There are all sorts of occupations where money can be made and real business opportunities made. Most small businesses are of the trade school variety. A sheet metal fabricator, glassier, florist, culinary arts. Computer hardware technicians, construction, heating and air. All sorts of service jobs that can be parlayed into a thriving business.

[capitol l]

I think we may be commenting in different directions. I am trying to say that if you are a middle class intellectual and your kid wants to be an electrician, then you should not feel that they are underachieving.

Okay, trades have gotten a bad rap. You are not an imbecile because you like carpentry rather than european studies. I would argue vice versa.

[capitol l]

Strike "okay", I've reread...don't know why that is there.

[Groovus Maximus]

Agreed. We are on the same page.

[Episiarch]

Your father was a blue collar worker? Don't you know that that makes you scum, doc?

See, my father has a master's in Computer Science. Plus he is a golf kingpin. Plays several days a week. My mother has a BFA from Pratt with a minor in photography.

Did I mention I talk just like Thurston Howell III? Where did you go to school, anyway? Probably some state university. God, you poor people make me sick.

[capitol l]

My mom told me that my dad is some overeducated wop that raped her and left her for dead.

[capitol l]

Jeez, I was just kidding epi. Where did everyone go?

[Episiarch]

They probably went to wherever poor people go.

[Groovus Maximus]

Yep, Epi. He was, worked up into management the last few years of his career, as his practical experience made him qualified to run any of the shops he was assigned to manage.

He also has a head for numbers and a very good self taught financial man. Good match with my mom, a retired accountant. They invested very well and paid for my medical school, and yes, it was a state school and in the top 10 of osteopathic schools, but I didn't want to go out of state even though my MCAT was excellent.

I got into med school on the first attempt.

Instead of paying off a bank loan, I am repaying them.

[Episiarch]

Just in case you didn't get it--because you seem a little serial here--I was joking. However, I find it ironic that I went to Johns Hopkins and you, the doctor, went to the state school. My education is fucking worthless. A BS in Biology and a BA in Anthropology? What was I thinking?

You should have had the horrible experience of Hopkins instead of me.

[capitol l]

ELITIST!!!

[Groovus Maximus]

And yet, you are the more well rounded than I. Ironic huh? 🙂

[Episiarch]

If you can call doing a wake and bake every day before Molecular and Cellular Biology "well rounded", well, maybe. But I did crush the quantum mechanics part of Organic Chemistry. I do love me some quantum mechanics.

The Lunesta I just took is going to kick in soon, so enjoy your evening. By the way, what state do you practice in? Can you write me some hydrocodone scripts? Norco, preferably.

[Groovus Maximus]

Oklahoma. And no, unless you move here or I move to Seattle 🙂 Unless you slip the tounge, then maybe we can talk LOL. (totally kidding)!

[Episiarch]

Can't you send me some samples? Also, I only kiss you if you let me sodomize you.

[Groovus Maximus]

Nope. The DEA frowns upon such activities. Pesky bastards.

[capitol l]

The DEA frowns upon such activities. Pesky bastards.

Which? The sodomizing or the kissing.

[Groovus Maximus]

Kissing. They are remarkably unromantic. They seem to love the sodomy though....brutes.

[Episiarch]

Peace out, bitches. Lunesta calling. Maybe I won't have to work 12 hours tomorrow. Ah, who am I kidding. Of course I will. And Saturday.

WHERE'S MY FUCKING MASERATI, E? I DON'T HAVE VINCE TO BUY ME ONE.

[capitol l]

Dang epi, I just learned about n dimensional(n approaches upside down 8) hilbert spaces, and your pilled out ass is going to fall asleep.

[Episiarch]

Sorry, man, I can't do Hilbert Spaces on Lunesta. I can do dimensional databases, but that shit is easy.

[capitol l]

Yeah, I saw that on the butterfly commercial; "Lunesta may cause dimensional databasis".

Whatever the fuck a dimensional database is.

[Groovus Maximus]

It appears to be a database management tool.

Not my area of expertise.

[Groovus Maximus]

Studying partial diff eq cap l?

[capitol l]

Next semester, been reading up though.

Wanna hear something funny, the chem dept of my college, which is not a bad college for my major, only requires linear algebra. They think you will be a fucking scientist without the tools of a fucking scientist, I guess.

[Groovus Maximus]

only requires linear algebra.

As a chem major req?????

[capitol l]

Yep, though for the p-chem classes odes and pdes are "recommended".

People I have talked to are really having a hard time in p-chem,I think, because they haven't taken diffyqs or thermo physics because they are not required

[Groovus Maximus]

Yep, though for the p-chem classes odes and pdes are "recommended".

P chem is a bitch. I'm very surprised that they only require Lin alg and matrix theory.

[capitol l]

You do need calc 1-3. I asked around, and the consensus seems to be that though the p-chem class has difeqs, the mathematical knowledge behind them is not necessary as much as the ability to compute them is.

[capitol l]

Did you get a degree in chem?

[capitol l]

I'm very surprised that they only require Lin alg and matrix theory.
reply to this

I thought that I may have been mistaken, so I looked at my distribution of studies sheet, and yep, Calc 1,2,3 and Matrix theory is it.

[Groovus Maximus]

Did you get a degree in chem?

No. Molecular biology with a chem minor.

[Groovus Maximus]

"I'm cereal, like totally cereal"

[Madbiker]

I have that honesty, but desire to not commit professional hari kari prevents me from exercising the use of it.

It's probably not teachers who need the Honesty Patch; it's parents who need to be able to tolerate the message that college is not the best option, etc.

On the whole, most of my colleagues agree that not all students are cut out for certain career paths. Some parents recognize it too. But the compulsory education system and a job market that discriminates against those that have "only" a HS diploma makes it difficult to allow any other out to some kids.

[Joe DaPluma]

I worked in construction for eight years and earned an average of $80,000 annually. Outweighing the options of pursuing a four year degree and then graduate school combined with a loan in excess of $100,000 or steady work, debt free, was obvious. Besides, this famn ducking dain bramage would bar me from college entrance exams anyway. College is over-rated. Thankfully, smart people don't need to work in construction trades. Duhhhhh!

[Spartacus]

I think the increase diminishes rapidly after a certain point (which I'm not sure I can locate). I agree completely with Groovus M.: I know plenty of people with doctoral degrees (not all in social sciences!) who can barely tie their own shoelaces. They are, however, phenomenally self-disciplined and have an almost infinite capacity for cranking out vast, dreary reports on subjects that are either hopelessly trivial or completely obvious. Today, they are all in charge of accreditation agencies.

[Jeffersonian]

But society needs those feminist litcrit majors to detect the subliminal patriarchy in Disney 'toons!!

[Family Values]

Dumbo=single tentacle hentai

[CaptainSmartass]

I thought the main skill taught to feminist litcrit majors was how to make their man a sammich?

[Jeffersonian]

Oh, you forgot one: the dramatic increase in educational opportunities and the resulting dramatic increase in human capital that powers our mighty economic engine...

To an extent, that is true. But given the degree to which defaults are increasing, it's clear that not all educational expenditures are good investments. And keep in mind, that's only those educations that are financed through GSLs...there may be many more with degrees that are all but useless who simply paid for their schooling.

[MJ]

If you produce significantly more of a commodity product than there is a demand for it, then you have not created "capital", you have misallocated resources. Thinking that just minting college graduates means you have done anything economically useful is simplistic.

[MNG]

-drops stick, nudges it with nose-

ARFARFARFARFARFARFARFARFARFARFARFARFARFARFARFARF

[MNG]

Isn't this horse tired by now Gobby?

[?]

Oh, you forgot one: the dramatic increase in

...the opportunity gap between people who can afford to risk massive lifelong debt and those who can't. Meritocracy!

[Brian Sorgatz]

The laws of economics are quite dependable?and yet we're a bunch of "free-market fundamentalists."

[Dagny T.]

I had very minimal student loans, which I paid off almost immediately, mostly because the Canada Student Loans administration was so fucking incompentent that it drove me nuts to reward them with my interest dollars.

If I had to, I would have just taken out a private loan to get those chumps out of my life (it took, like, 3 letters to convince them to cash a check from a US bank, and forget about electronic payments). A good lesson for a recent college grad that entanglement with the gov't is a messy, unpleasant undertaking to be avoided no matter the proffered goodies.

[Episiarch]

Parasite!

[ClubMedSux]

I think you'd feel different if you didn't graduate with minimal student loans. I graduated law school with over $150k of debt. My private loans (roughly two-thirds of my overall debt) are at 7 and 7.5% while my federal loans are just over 4% and will drop two whole points after another year of on-time payments. Sure, I'd pay a few bucks to not have to deal with the gub'mint, but if I'm paying back $100k over 10 years, the difference between 7.5% and 4% is almost $200/month AND over $20k in interest! Oh, and as soon as I graduated my federal loans were consolidated with a private lender anyway.

[ClubMedSux]

Best Curly-era Three Stooges EVER. Well, either that or Disorder in the Court. But either way, Swingin' the Alphabet RULES! (Yes, I'm channeling my inner 8-year-old right now.)

[Jeffersonian]

I'm thinking "Men in Black" was best.

[ClubMedSux]

Yeah, hard to argue with that as it was the only Stooges short to win an Academy Award. And "Calling Dr. Howard, Dr. Fine, Dr. Howard" is a classic.

[Jeffersonian]

And "Spook Louder" had one of the best Curly sequences of all their shorts. He was a comic genius.

[MNG]

I know it's Ignore-A-Troll-Tuesday, but this is hard. Hard!

[MNG]

What's up with the impersonations? ICarly on re-runs this week?

[MNG]

It's Ignore-A-Troll Tuesday!

[ClubMedSux]

It's also Ignore-the-Troll's-Doppelg?nger Dienstag!

[ClubMedSux]

Ah, shit. That would've been a lot funnier if I had remembered to change my name to "Anonymous Backstabber" before hitting "submit." Epic fail on my part.

[Robyn]

There's a justice in this world.
She's called Elaine.

[MNG]

I'm not sure what's sadder, the continued Nickolodeon rerun fueled impersonation, or the plea to "ignore the troll" lodged in a second response to said "troll."

Methinks the pathetic bar has been raised...

[Warty]

Is there a gayer word than "methinks"? That word is fucking gayer than "ass-spelunker".

[Groovus Maximus]

Yes. The word is "Warty", my verruca laden, Harkonnen-ite friend.

[The Art-P.O.G.]

Methinks not.

[Woody]

Shouldn't that be "I thinks"?

[The Art-P.O.G.]

I have no idea. I used it tongue-in-cheek.

[alan]

'Methinks' is pretty bad, but 'whilst' is the biggest cocksucker of them all.

I did a usage check of that word on Guttenberg and my Ian Flemming pdf collection a few years back scanning several works of English writers. I found Fleming did not use it, Chesterton did not use it, and several other did not. The sole exception was Agatha Christie. It had fallen out of fashion likely around the Georgian period only to show up again in the age of blog hipster pricks (yeah, okay, I accept the charge, my Leather Tuscadero tshirt print is a dead give away).

[alan]

The Ghost of Swinburne asked, 'Methinks you meant the Edwardian era.' Nope. Forgot to mention I checked 19th Century lit too. You wont find a single instance of 'whilst' in Bleak House

http://www.gutenberg.org/dirs/etext97/blkhs12h.htm

[Ghost of Schr?dinger's cat]

I'd go with "We think" for pretentiousness

[The Art-P.O.G.]

That is wonderfully pretentious.

[Astrid]

Save are students!

[Libertylover]

I guess the answer, from the author's point of view, is to go back to the good ole' days when college was only for the wealthy. Working class kids, whose parents are making less and less all the time, can join the army or they can just stick it. College should just be for whites anyway right?

[ClubMedSux]

I love when liberals do stupid shit in the name of helping out those less fortunate. The job market's the same as it was thirty years ago, except that now you need to acquire $100k of student loan debt to compete for the same crappy jobs that only required a high school degree back then. Thanks for looking out for the working class kid who's now trying to pay back his six-figure student loans with the salary from his job at Radio Shack!

[Drax the Destroyer]

My poor-ass mother and her siblings were able to work summer jobs between school years to pay off their paltry student loans. Now, I have to work for 20 years, sacrificing home ownership, raising children, vacations, and whatever savings I could have accumulated instead. It's almost as if the glorious social engineers want me dependent on bullshit social security and medicare when I'm old and cancer-ridden. To some extent, I'd be much better off if I just became a plumber. At least plumbers do something useful as opposed to the majority of bullshit busy-work jobs you have to destroy your credit(translation: get a worhtless college degree) to acquire today. God, I need a strong drink.

[Rich]

I'd also add that we've ended up with credentialism, in that lots of jobs that a generation ago could be done by a high-school graduate now "require" a college diploma.

This credentialism is even more insidious than Ted S. notes, in that people capable of doing *advanced* work by virtue of their intelligence and self-determination can be blocked/driven out of "the system" if they lack the magic piece of paper. Fortunately, some companies are not run by bureaucratic automatons.

[Lefty Troll]

This is just more proof that Reason (sic) hates children, rainbows, and puppies with large, soulful eyes.

[Lefty Troll]

By the way, I am white and I voted for Barack Obama, that makes me an enlightened intelleckshual.

[Lefty Troll]

I'm also way richer than you free market fundie f***tards will ever be! You can't prove me wrong, so you'll have to believe it!

[Bud]

"the dramatic increase in educational opportunities and the resulting dramatic increase in human capital that powers our mighty economic engine..."
Given that half the degrees are in bullshit fields with no real-world application, I really highly doubt that they're adding that much of value to the economy.

[Drax the Destroyer]

Bud, you're right on. Let's face it, people who major in women's and minorities studies, sociology, a huge portion of psychology, and other comparable "fields" are only equipped to teach/perpetuate said "field" and perform the bullshit secreterial tasks most people could do even without a high school diploma. In the end, all "the dramatic increase in educational opportunities " has wrought is tenure for a generation of worthless academics whose research consists of confirming biases, perpetuating stereotypes, and peddling lies. Damn it, now I need another drink.

[Jo Watson]

No big surprise there now is there LOL

Lou
http://www.anon-vpn.se.tc

[Jen Wilder]

Sounds reasonable to me dude.

Lo
http://www.whos-logging.se.tc

[The Art-P.O.G.]

Oh, I get it. "Jen" Wilder's like a female "Gene" Wilder.

[Lefty Troll]

PAY ATTENTION TO ME! I'M IMPORTANT! I'M MAKING VALUABLE INSIGHTS THAT ALL YOU LIBERTARDIANS SHOULD BE GETTING DOWN ON YOUR KNEES AND THANKING ME FOR!

[ClubMedSux]

Well done, Lefty. I hope Dan T. and MNG are taking notes.

[robc]

I dont get how student loan defaults end up such a problem. If they are unemployed, they can get a hardship deferral, so it really isnt in default (or do they count those?). Otherwise, if they are working and dont pay, just garnish their wages. Its not like the debts are bankruptable, so what are they gonna do?

[Colonel_Angus]

Public subsidized universities need to be on their way out. It seems like the market is already responding to the "necessity" of higher education with the increased popularity of for profit educational institutions and community colleges getting accreditation, of course accompanied by the bitching and screaming by academians at traditional universities who are worried about losing their authority and market share. Without the cranky universities, we might end up with more business involved programs that combine the education with useful work. It would work fine even for engineering. It would also open the market for research. Right now, companies don't bother to invest in much research on their own because the government just subsidizes it all through politically preferred universities, not to mention the academic monopoly and the possibility that any research might be rendered pointless by government regulations and market interference.

[Turnkey]

The concern is that school quality would decline sharply. Granted the system could self regulate... but there are a fair number of business / psychology doctorates running around with less academic coverage than a 2-year community college provides.

The caveat is that current issues with private colleges stem from the current academic environment. But that is not an easy sell exactly.

[Fatty Bolger]

That concern is likely as valid as the "concern" that vouchers for primary education would cause quality to decline sharply. Both "concerns" are mostly just "self concern" by parties who are afraid of losing status, power, and income.

[MJ]

With the rhetoric being used to justify the complete government takeover of student loans being on the order of "it's unfair to expect people to pay the debt incurred for something vital as education", is it any surprise the attitude being taken by some with student loan debt is: "I don't have to pay this back"?

[Liberal Ignoramus]

My liberal arts degree is all the proof I need to show that I'm on a higher level than all those mouth breathing backwards racist teabaggers out there. Why should I have to pay for it? I earned it. It should be free, except for rich people, whose daddies should pay double. No, quadruple. Or eighttuple. If that's a word, we didn't cover math much at my school. Though I could deconstruct the entire works of Emily Dickinson in my sleep.

[Drax the Destroyer]

That result is a feature, not a bug. We are quickly approaching an event horizon where people expect everything to be handed to them if we haven't passed through it already. I know once my government-supplied healthcare, housing, food, blow jobs, video games, blow jobs, movies, blow jobs and stipend for going back to school kick in, I'm finally going to get my degree in fingerpainting which will conveniently take me 20 years to acquire because I am just not smart enough. But hell, I deserve an education right? For free, right? Because I'm a sparkling unique star and I deserve to have my dreams subsidized on the backs of my countrymen because we can't stifle the delicate flower of the human spirit by requiring it work to for things.

[Abdul]

Using student loans to finance my PHD in Byzantine poetry is looking like a worse idea every day.

[Jersey Patriot]

The problem is two-fold:

1. We've become a society where you need a four-year degree to do jobs that really only need bright high school grads. You have to spend more and more to get what people used to get for nothing.

2. The labor market is shrinking relative to the population. Since 1997 we've added zero net private sector jobs. This is hurting not just crit theory studies but chemical engineering and law.

[Dominador Casas Jr.]

These increase will surely benefit our economy 5-10 years from now. The result will be gigantic more and more people will be competent in their field. The higher the competition the better the quality produced and the better quality the better lifestyle.

Tag: Work from Home Moms, Help for Single Mothers

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