Student Loan Crash

How long until the student loan bubble crashes?

Also, why do you have student loan debt?

Other urls found in this thread:

zerohedge.com/news/2017-01-19/us-government-caught-massively-fabricating-student-loan-default-data
zerohedge.com/category/tags/student-loans
youtube.com/watch?v=MyHNwJpZH0I
youtube.com/watch?v=AwoeS6ZXcDI
theguardian.com/education/2015/nov/24/uk-has-highest-undergraduate-tuition-fees-in-industrialised-world-survey-finds
youtube.com/watch?v=J2hvOEa6BFg
twitter.com/NSFWRedditImage

I don't, my dad paid for it all

How much?

Cant say i went to university

Not soon enough. Nice digits

Can you even default on student debts?

Nope.

No debt, thank god. Why are kids/parents so fucking stupid. Go to a school you can afford and get a degree that pays it back. You have to work and get scholarships if you want to afford more.

>but muh social life
Enjoy debt slavery faggot

I got my bachelor's for $10k in loans, I have $6k cash saved up to pay them off and I just got a $7/hr job so I will have it paid off very easily.

Going to college was the worst mistake of my life, you can learn all of that online with more detail for free and without aging 10 years in a college slave environment.

Yes.

Information:

zerohedge.com/news/2017-01-19/us-government-caught-massively-fabricating-student-loan-default-data

zerohedge.com/category/tags/student-loans

>falling for the college jew
I'd rather be a wageslave working for low wages than ever pay to be brainwashed by a school that takes more money than it's worth

I don't even know, I don't have to look at the bill. But I just looked and it's about $7,662 per semester. But I get about $5,000 in scholarships so he only has to pay around $2,600

>$7 an hour
where the fuck do you live
thats less than minimum wage in my already conservative low wage state

$7/hr Jesus fucking christ.

I was lied to...

Also my career advisors idea of job placement was printing out jobs from the newspaper...

I occasionally wonder about going back to college but the more of people's stories the see, the more I realize you don't so much pay for education as you do the possibility to rub elbows with someone who can land you a job.

I don't like that kind of risk, personally. Maybe I don't want to take out a 30k loan and be stuck with debts. But I feel punished if I don't.

Michigan

What?

I graduated with no debt.

If you borrow money for an undergraduate degree you have already failed at life.

Jesus man you can land a better job than that
I dont even have a high school degree and I'm at least making $10 an hour

I failed out of college twice and never graduated and I have a 45$/hour job

>Joined the forces
>Get paid to go to school

Its like you don't want to take the easier route

Go to trade school faggot
I make 80k a year offshore welding

I'm getting paid to spend 8 hours a day in an air conditioned hotel vacuuming and making beds. I enjoy work a lot more than home. Don't think there's such thing as a "better job".

didn't borrow for the school, but had to borrow for living expenses.

Undergrad debt free. Currently in masters on a full tuition scholarship, but living in New York is fucked. Definitely need to figure out how to be savvier with spending; feel like I'll be 20k debt from living once I'm finished.

>How long until the student loan bubble crashes?
Now that Trump is president as is apparently cracking down on H1-Bs, there will hopefully be in the next 20 years or so, a bigger demand for American tech workers, which is good for stem grads, but they aren't really the problem.

The majority of grads from state universities pay off their loans, the real problem is all the drop outs who end up at for profit colleges. Either the government stops loans for students at colleges whose degrees are worth exactly as little as the people holding them, or these retards taking out the loans in the first place are funneled into trade schools and told not to be ashamed of it.

Same here my African American

If they got rid of the government loans the debt wouldn't exist. Private loans definitely wouldn't be given to people who get stupid social science degrees (gender studies etc.) and universities would be forced to cut prices because nobody could afford it. They'd go back to being a place where people actually learned a trade or skill (law, engineering, finance, etc) and it would be a fraction of today's prices. Government interference btfo by economics 101

B-but dem programs will help them get a Degree in Hip-Hop Studies.

youtube.com/watch?v=MyHNwJpZH0I

Why can't you go to college and just not get brainwashed?

Don't do it.

Borrowing for any reason is not good.

Their parents must be so proud
youtube.com/watch?v=AwoeS6ZXcDI

>ywn rack up a crippling debt for studying conspiracy theories
Why live

Hit the nail on the head. Everything the government interferes with becomes much more expensive than free market solutions.

>How long until the student loan bubble crashes?

I'm not sure it can crash. It's not like housing, where a few people defaulting cause low-price foreclosure sales, reducing prices and potentially triggering more defaults.

Unless you never pay your loan back, amirite?

Parents paid for a lot of it.... Will still have 20k in debt after I graduate... which is chump change

Does the yank student loan system work like ours?

We don't pay ours off until you earn £21k p/a and then it's around 10% of earnings about that goes towards the debt. So the people getting 2.2s in Sports science likely won't pay a quarter of it off.

>why do you have student loan debt?

I don't uni is free

>8 dollars an hour to clean all day
yeah youre a fucking slave dude

I mean you can, but why would you willingly give money and be in debt to those cunts? It just isn't worth it imo

>Also, why do you have student loan debt?
Because my parents are good goys.

This. It won't pop because the government is backing the loans. Every penny loaned and spent on degree mills is guaranteed to be paid back to the kikes.

It's 7 which is quite a bit. I would do this for $5/hr.

/thread

indebted normies deserve their debt for being retarded fucking normies

I feel the CAE raping me quietly

Grad school, but it's a useless masters but it's also an Ivy League.

>I don't uni is free
It's not, nothing ever is. Your (((education))) is subsidized, not free.

student loan debt
>my dad paid for it all
>a school you can afford

America fuck yeah

>millenials take loans
>don't have any idea how they're going to pay back this loan
>they KNOW before they even take it they're going to be in huge debt because thats sort of what happens when you take loans you cant pay back
>they still take the loan and spend the rest of their lives whining and begging for Socialism and our entire fucking economic system to be remade just so they can get out of paying back their loans

>tfw I can't even mock yanks about student loans anymore

theguardian.com/education/2015/nov/24/uk-has-highest-undergraduate-tuition-fees-in-industrialised-world-survey-finds

College is a fucking scam. Get a real job besides reading books and crying about muh study time or muh test is so hard, muh major.

It's because they want that 4 year vacation of sex and booze. I have no sympathy.

autism

it's free

I haven't gone to college for this reason, I just work a shitty part time retail job for the time being and help my parents out with bills. I know I need to get an education to compete and get a good job, but I'm not really sure what I would go for. I'm interested in the trades but have never built anything with my own two hands in my life, and here in Upstate NY you basically have to know someone to get an apprenticeship. Thinking about doing 4 years in the Air Force.

>go to trade school

Not everyone wants to be a plumber dad.

>you don't so much pay for education as you do the possibility to rub elbows with someone who can land you a job.

Outside of a few technical skills (Science/Engineering, Accounting, Medicine, and so forth) this has always been the case.

This. If banks were giving the loans, they've have to evaluate them as risk like all other loans, and thus probably wouldn't lend to a lot of people at any rate.

Idk how this "bubble" is going to crash. As in, i don't know what it will look like. The government will get its money, you can't default on the loans.

I'm assuming the bubble crashing will be a mass awakening to the bullshit that is the american bachelor's degree, and campuses will be abandoned en masse. Then without revenue coming in colleges will be forced to scale down, but because the beaurocrats are so entrenched into the system they will be the last to go. Professor's will be taken off of salary, research will stagnate, and the few remaining students will be taught by travelling part time teachers, compensated via 1099 or some other bullshit. Eventually there won't even be enough students to justify having a physical campus at all, and classes will go online.

These online classes will then be directed by small groups of professors planning the lessons, and all the assignments being graded automatically via computer. Emails will be answered by pajeets in the third world.

Anything else?

Go to your local employment office and ask them what's currently in demand.

Find that out then pick the top three that interests you then find schools that offer courses in that and ask them what the graduation rate is for those jobs.

Find the one with the biggest demand and the lowest enrollment rate and go to school to learn that.

I believe they're going to need 1.5 million programmings in the next few years but there's only going to be 500,000 graduated by the time they need all of them.

youtube.com/watch?v=J2hvOEa6BFg

It's only a short matter of time. Millions of brown welfarel leeches have thousands in student debt that they'll never pay

Programming is good because you have to be practically autistic to keep up with the studies so it weeds out the n00bs.

>20% VAT tax
>+30% Income tax
>Actual fucking wealth tax

>it's free

You should be fucking killed, not payed for because society feels bad because you are born retarded. Stopping natural selection was a mistake. Hitler was absolutely right.

>bawww why am i forced to go to college, this is just CAPITALISM and the fucking BOOMERS taking advantage of us! the system is corrupt! i shouldnt have to be tens of thousands of dollars in debt!!!
>w-what do you mean i could work a job that isn't high pay for no effort? my parents told me i was special, i should have the executive job of my dreams!!!

my AA and BA are being paid for cause my parents arent poor

law school is going to rape me though

>zerohedge.com
Not a reliable source of non-fake news

>When I grow up, I want to be in debt

Not happening until govt pulls the cash.
Then you'll see rioting and whining to rival Trumps election.

You do realise in Britain you literally barely have to pay them back. You only need to pay them back if you earn over £25k (should do anyway) and even when you are earning 50k the amount you pay back each year amounts to a coffee a day.

If everyone has a college degree, no one does.

I find programming to be extremely easy. It's just talking to a thing that takes everything fucking literal.

If you're able to problem solve and also communicate with others easily then it's a no problem subject.

>communicate with others easily

So why the hell do so many Pajeets get hired for it?

Not anymore, all these lawyers in the eighties took advantage of the ability to default on their law school loans and then subsequently walked into six-figure jobs debt free. So they changed the rules: now you cant escape student loan debt, it follows you even through bankruptcy.

Where the fuck do you live, I've never once seen a programmer that isn't white

But I never got into debt while studying

Pajeets get hired for technical work.

>$7 an hour
I'm in college right now and have a job that pays $8.25 an hour. You should probably consider looking for another job.

>healthcare
>university
in countries that are not cuck dynasties like the US

...

It really isn't. Unless you're just trolling or you're a high school student/old man on social security doing it for fun you're one of the goodest goys I've ever heard of.

nobody in a first world country should work for $7 or $8 an hour

you can make more doing fuckin uber.

I have no debts and my parents are giving me a house.

God loves Ireland. Or me at least.

triggered

Worked extra while studying, barely needed the loan and paid the little loan I had off in less than a year after getting my degree

Yeah this. I'm not in one of the trades but work closely with them. Electrical people would kill for electricians right now. They make great money too. Problem is the trades are stigmatized by leftist propaganda. If you don't go to school and have office job you're lowly trash. Yes, the poor pitiful pipe fitter clearing 85k a year is poor trash.

Isn't it basically wasting time and money to go to college? What about working up and making smaller steps?
Nobody forces you go take debt

Not in my case; don't have a car yet.

it can if the dollar collapses
incoming

buy silver and BTC

are you dumb ?

You think free uni mean free degree ?
It still take 10 years to be a doctor

Minimum wage in Michigan is $8.90 an hour. You're an idiot and are getting fucked over.

Feels good not having any. I remember being 19 and losing my scholarship when I quit wrestling. They wheeled me in to sign a loan and immediately said fuck that and never went back.

>Go to work and earn money
>Or
>Waste more time in college
>Get a useless degree
>Be in debt
>Blame everyone but yourself

Really made me think.

18k in student loan debt.

I have the money to pay it off, but I don't. This was all from my undergrad.

I wanted to finish my master's or go to law school but didn't want to get in more debt, so I moved to Germany and am getting it for $FREE.00.

Thanks you cucked socialist bastards.

The best coarse of action imo is starting your own business.

>Everything the government interferes with becomes much more expensive than free market solutions

HA
HA
HA

>Get a useless degree
What if they get a useful degree, such as accounting, business, or education?

my parents drained my college fund while i was a minor to pay off credit card debt, and then they filed for bankruptcy anyway after i lent them another 2 grand which they still haven't paid back. i'll have fairly heafty debt but i'm getting biology degree and i'm on track to become a certified middle school/ high school science teacher. starting pay for teachers kicks ass here (north Texas), plus the pensions are insane and summers/winters off. also scholarship paid for like half.

How come you get it for free? Germany doesn't offer it for free to people outside the EU. Highly skeptical.

Do they have some sort of scholarship to attract foreign students with high grades?

You're working for illegal somali pay