Placing the Blame as Students Are Buried in Debt

[Papa_Complex]

Originally Posted by The Chi

Ummm, get a second job. College educated and she never stopped to really think about all that "free" money?

I run into an awful lot of university students who feel entitled to their educations, regardless of money or native ability in the field of study, who barely consider what they'll be doing tomorrow, let alone after graduation. If an ex hadn't lucked into a government job, she would have had a pretty tough time finding a job that made use of her three degrees; sociology, philosophy, and Eastern religions. There aren't many megacorps that will pay you the big bucks to sit in a corner and think about the meaning of life.

[EpyonXero]

Originally Posted by Papa_Complex

I run into an awful lot of university students who feel entitled to their educations, regardless of money or native ability in the field of study, who barely consider what they'll be doing tomorrow, let alone after graduation. If an ex hadn't lucked into a government job, she would have had a pretty tough time finding a job that made use of her three degrees; sociology, philosophy, and Eastern religions. There aren't many megacorps that will pay you the big bucks to sit in a corner and think about the meaning of life.

Yep. People my age and younger were taught all through grade school that college is their destiny and that they must do whatever they have to do to get there, otherwise they'llll be a failure.

[pdog]

Given the number of manufacturing jobs that have been lost to China, etc in the last 30 years, that's not unexpected.

Originally Posted by EpyonXero

Yep. People my age and younger were taught all through grade school that college is their destiny and that they must do whatever they have to do to get there, otherwise they'llll be a failure.

[Particle Man]

Originally Posted by EpyonXero

Yep. People my age and younger were taught all through grade school that college is their destiny and that they must do whatever they have to do to get there, otherwise they'llll be a failure.

truth. Thing is, now utlilities and other similar industries are suffering because nobody wants to do those jobs any longer and the skillsets just aren't there any longer.

[goof2]

Originally Posted by Particle Man

truth. Thing is, now utlilities and other similar industries are suffering because nobody wants to do those jobs any longer and the skillsets just aren't there any longer.

I've been in a few factories with idle machinery because they could not find people to run them. In one they had around 20 old milling machines with around 75% of them doing nothing. One of the plant managers told me they are willing to pay experienced machinists qualified to run them low six figures but still can't find people.

[Hydrant]

Its bad even in my industry which is commerical / industrial plumbing and hvacr. You cannot find any decent younger people that want to go out and make this a career. Albeit it is work, but not as hard of work as some trades that are out there. The money is pretty good, I'd say a worker working 40 hrs a week and never getting laid off is going to make right around 50k a year. More so with overtime worked in.

If you joined our local union and got in right out of high school through the apprenticeship program you'd start at about $12-13 an hour and move up through each year for 5 years. You become a journeyman after 5 years. But if you think, out of high school at 18, 5 years of apprenticeship program so they would be 23 years old, the base pay is about $28-29 per hour. That isn't too bad of money for someone who has no college bills, and making $50K plus a year at 23-24 years old. In theory that should be ideal if that is what you want to get into.

Unfortunately in our fine economy construction jobs aren't exactly banging away. So that is the tough selling point at this time.

[Tsunami]

I love how they are blaming the banks and the schools for not preventing the borrowers from borrowing.

On standpoint of profits, the bank should get a better picture of whether the odds are in their favor on whether they will have their loans paid back and be more selective on who they lend money to.

Its the responsibility of the borrower to know what they are getting themselves into. There is no excuse not to be educated and informed, especially when it comes to that amount of money. There is no shortage of information on how to be financially smart and responsible. Tell the college graduate to go use the power of google and figure it out. And yeah, she needs a 2nd job. Does she even have a first one??

[njchopper87]

But they had faith it would all work out! There is absolutely no way that borrowing 100k could back fire if you just have faith! Believe!

Really though.. how do people do this? I understand that they all wanted the best of the best, but when you have nothing to back it up with it's just best to settle for less. Just because you pay more doesn't mean you get more.. damn. I had plenty of awesome profs at this tiny tech college.

[EpyonXero]

Originally Posted by goof2

I've been in a few factories with idle machinery because they could not find people to run them. In one they had around 20 old milling machines with around 75% of them doing nothing. One of the plant managers told me they are willing to pay experienced machinists qualified to run them low six figures but still can't find people.

Companies need to start investing in training programs to build their future workforce.

[EpyonXero]

Originally Posted by Tsunami

I love how they are blaming the banks and the schools for not preventing the borrowers from borrowing.

On standpoint of profits, the bank should get a better picture of whether the odds are in their favor on whether they will have their loans paid back and be more selective on who they lend money to.

Its the responsibility of the borrower to know what they are getting themselves into. There is no excuse not to be educated and informed, especially when it comes to that amount of money. There is no shortage of information on how to be financially smart and responsible. Tell the college graduate to go use the power of google and figure it out. And yeah, she needs a 2nd job. Does she even have a first one??

Unlike a home loan its almost impossible to charge-off an education loan so the banks know that even if the borrower never graduates or gets a decent job they will still get their monthly payment.