How do we solve the millennial student debt problem?

How do we solve the millennial student debt problem?

Stop FAFSA.

The end.

so why do students in usa get debts?

Is there a tax for studying?

Stop subsidizing loans federally?

don't go to uni.

Let the college meme end and the market crash.

Their prices have soared over the years for no reason. It does not cost as much as they charge to teach

Tread

Skewed incentives across the board.

Debtor's prison

This. It's already happening to law schools, which have been undergoing a huge market correction since 2012. Admissions standards were lowered and scholarships started going out more readily. If the trend continues, law schools will just have to lower their tuition fees (some already have). Let the same thing happen to undergraduate programs.

stop lending them money
if your parents don't have money to send you to college, you don't go to college
there fixed

Explain to plebs that finishing Uni doesn't guarantee a stable 5 figure job. Not everyone can be Anita Sarkashvili.

Stop going for studies you can't afford? They are devaluing diplomas and create unsustainable debt.
And it happens only because they were told that they are smart and must evaluated themselves with willful indoctrination.

lololo...

>take on mass debt

>blame everyone for letting it happen

Guess education makes ya stoopid??

The economy needs debt. Now that homes are all bought with cash by foreign investors, and rich boomers, there's no debt creation in the housing market, that's the real reason they're keeping interest rates so low. They don't need interest, they need debt. So, they hit people with medical debt, and education debt.

Problem is, medical debt is so inflated many people opt for bankruptcy.

And now that college has turned into a liberal cesspool, and jobs aren't there for graduates, those who are still attending are fronting an even larger burden to keep the economy afloat.

And now private schools are dying, it is only a matter of time before there is a collapse. Housing has reached the same premium it was at before the start of the recession, further putting it out of reach of a population making less money than at the time of the crash.

Who ever said it does?

I accrued debt such that it could be paid off if I decided to go mow lawns for a living. Why doesn't every student do that?

Deficit spend so hard nominal incomes rise and wage inflation eats them away.

Agreed. almost 25% of my college classes consisted of someone who read from a textbook and marked tests and did nothing else. Almost all the remaining classes were using papers and materials dated around the early 2000's

i asked a professor i liked why I'm paying 2010 prices for decade old information and he said that he has no idea and doesn't give a shit because he's retiring. he did the next year.

When I went to school in leaf land your loan came from a bank, which meant that the banks did not give you a loan for a useless degree, now with Gov backed loans it's just pump out as many degrees as possible even if they are useless degrees or a field with no jobs. Also student loans used to be included in a bankruptcy, not anymore, now it's like taxes never goes away

Because lots of people are delusional and think that working labour jobs is beneath them so they enroll in uni and get so much debt they'll slave until their death to pay it off.

Pay off your debt with the job you get with your degree, which was the reason you went to college in the first place.

problem solved, we can all go now

everyone thank dyslexic russia on your way out

stop allowing profit to occur off of student debt, because 18 year olds just starting out on life should not have to live with debt the rest of their lives for either private or gov. groups to make money. just look at the interest rates on student loans, they are ridiculous (in US, anyway), and it is borderline, if not completely impossible to default on them. stop forcing the issue in culture on students that you'll only get a job if you go to the most expensive, reach private schools.

>stop forcing the issue in culture on students that you'll only get a job if you go to the most expensive, reach private schools.

it's a big circle
>company wants to hire cheap foreign labor but laws fobid them from doing so before hiring locally
>place an ad for the mailroom asking for a decade experience and three Phd's
>nobody can meet the requirements so nobody applies, you get your cheap labor
>meanwhile the outside world is being led to believe that they need to move heaven and earth to get an entry position
>colleges are ok with this because more enrollment and more demand means more moolah
>continue to perpetuate the meme that you need a thick-ass education to work at anything above wal-mart
>now other businesses are like "shit everyone has a degree and everywhere else asks for them so we should ask for them as well"

fuckin' mess. people often compare cycles to rings or what have you, but i just see it as the water circling the toilet before it gets sucked to the sewers

Didnt boomers needed to pay for their collage too?

STOP ANSWERING SLIDE THREADS WITH THE WORD 'MILLENIAL' IN IT YOU FUCKTARDS

THEY HAVE 5 OR 6 OF THESE A DAY

sage

>we can't discuss an interesting talking point because other similar talking points are posted occasionally with the potential purpose of distracting the userbase from other problems they may have no interest in whatsoever.

If you think it's a problem, report, hide, ignore. It's that easy.

Bro we have talked about this here forever, this is not a new thing

My boomer parents did not pay a cent, neither did my wife's. Walked out into the world with no dept got a job the first day, bought a house the next with a mortgage for 15,000

This. There needs to be incentive to avoid default. Having a low credit score should also increase your tax burden.

Sup Forums is for all political discussions. If you want a Trump circlejerk go to R.eddit

Have them stop wasting money on nonworthwhile degree programs.
Damndist thing, it turns out your liberal studies dehree isn't worth as much to companies as engineering one.

This. Only allow students with high GPAs to get federally financed liberal arts degrees. That would eliminate most of the problem.

Basically this. If it was made possible to default on student loan debt the whole market would correct sharply. The only possible way to justify loaning an 18 year old girl 200,000 dollars to study intersectional feminism is by chaining her to the debt for life.

Hilariously, education is now one of the largest bubbles out there and most people don't even realize it is an industry in the traditional sense, let alone realize how close to the edge everything is.

Funny that hey, who would have thought

uh not sure, i know that in mexico you either go to a private uni and pay out of pocket or you can go for free to the govt school

here in the US, both private and private universities cost a shit ton of money, 20 to 60 thousand USD

most people have trouble affording that, the governement has a program called FAFSA or student aid basically where they give you $$$ based on your needs, and its a mix of grants (you don't pay back) and loans (some subsidized some unsubsidized)

theres been a really big recent push for E V E R Y O N E to go to college so all students want to go and if that means taking debt in they take it

Well it is worth it for most STEM and business degrees. The real problem is that the universities charge the same amount for fucking women's studies degrees as well. Thus you get people who graduate with 6 figures of debt and no way of paying it off.

>most people don't even realize it is an industry in the traditional sense

People fail to see business and industry everywhere. They think it's just something that exists the way it does and always will. Plus, we're almost at the point where people see 'businesses' as godly entities that cannot fail and will not fail, so even in the instances they are aware of a living industry behind it, they can't comprehend the idea that it is fragile and unsure like all businesses.

They get jobs, work hard, and pay it back just like I did.

>20 to 60 thousand USD

the fuck, that's a lot of money!

I did study in a private school and at the end all that I paid were like 15k or 16k USD.

so the problem is that if you study a meme degree, you won't be paying your debt as easily as if you have studied another career.

>The economy needs debt.

>Basically this. If it was made possible to default on student loan debt the whole market would correct sharply.

And that correction will be unless your family already has money you will no longer get a loan.

That is the whole point in the federal backing, so everyone can get education if they want.

Step 1: Stop allowing any fucktard with a pulse get into college

Step 2: Only allow students in STEM fields to take out loans. You can major in feminism if you want, but you gotta pay. Up front, no loans.

Step 3: Pick a college that is financially feasible. It's how I have zero debt.

If students did shit jobs that economic migrants do the western world wouldn't be in the shit we are financially.

This is how it used to work 20 years ago

If employers had been willing to pay a competitive wage that would not have happened.

Well it's pretty bad and even if you can make payments--like I use to, it's still not worth it. I just quit a job making a gamble at finding a better paying one and now I am screwed like the other kids in college. I basically have 3month s left to live or find another job. In my situation I had to chose between paying for gas and vehicle insurance, etc over moving closer and getting an apartment with 2-3 other people. I chose to say fuck it once my company started firing everyone except the cheapest paid employees. What's the point if I am stuck making only 35k a year forever? They are double dipping the American people, both on debt, healthcare and taxes.

My last day there I watched a company presentation on health cost for the coming year for blue cross blue shield and they basically said it was going up 30% that year- (year over year). My 28 year old co-worker eats sausage and pizza everyday and he was always complaining about the cost of his heart medication but was glad that he could at least get health insurance now. Him and his greedy co-worker use to love it when people were fired or quit because that meant they got more money for our company profit sharing check.--Fuck that shit, money isn't everything I would rather be dead/an-hero than watch someone's life be ruined because the president they hired "cost too much that year."--btw they demoted our president but he still got to keep his title and the money....

What's the point in working anymore?

How about also:
>reinstate bankruptcy protection for student loans
>stop all government subsidized student loans
>watch the number of loans drastically decrease, since lenders now incur actual risk
>watch the price of tuition drastically increase, since colleges can no longer rely on unlimited free money

Don't go to college unless you have intent.

Your parents are idiots.

HAHAHAHAHA FUCKINGGGGGGGGG EPICCCCCCCC MAN XDDDDDDDDDDDDDDD!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

>be american
>government loans you money to study
>go study
>but I'm actuslly too dumb to go to uni so I pick social studies/black history/politology/women studies/philosophy etc.
>accrue debt
>graduate with said debt
>find out my money and time was wasted getting useless degree that has like 2-3 applications in real life
>go work at mcdonalds and whine about debt

At least half of the people in universities aren't supposed to be there, they either lack the knowledge, dedication, willpower to study, ut they're still there because universities have become bussinesses and their primary product are diplomas.

Sorry, watch tuition *decrease

The world doesn't need that much people with uni degrees. It's their own fault for making poor decisions. Nobody forces young people to take out loans

Get out of here bank shills. Federal student loans keep from greedy banks making secured student loans and tricking them as well as advocating for bankruptcy to get your house. Also advocating for a market crash? Ha only a shill would want something as dumb as that.

Well that doesn't make any sense seeing how your credit score is influenced on your parent's credit score when you are first starting out. This is why i refuse to own one. And what happens if your identity is stolen? I said have to pay more in taxes because someone else broke the law?

You know nothing and deserve just what you get in life.--I hope we do bring back debtors prison so a cop can fine you a million dollars and then send you prison--Where I will rape you.

I don't see any problem, unless talk starts of a bailout rewarding bad financial behavior.

>Tfw your former middle now upper middle class white Dad's small software business has started taking off and he pays for your College every year with a cool mid 5figures check, and you're about graduate with a chemical engineering degree and a job waiting for you close to home so you can start saving to purchase your own property.

>How do we solve the millennial student debt problem?

abolish welfare checks and food stamps,
allow death penalty,
decrease prison spendings,
nationalize unis make education free for everyone who pass tough exams

problems weren't

You do realize the loans come from your taxes, right?

exactly and more than half the population are studying fucking meme degrees

I worked full-time while attending college full-time. I worked a crappy low wage retail job. Went to class in the morning until noon and then did a late shift and worked nights and weekend. I never took student loans and paid my way the whole time at a state university. It absolutely sucked but I don't regret it for a second. It even allowed me to get a very good internship.

While all my friends partied thier asses off I was able to graduate with no debt and valuable work experience. This allowed me to obtain a great job with a company that paid for my MBA afterwards.

I have now a Bachelors in Accounting and MBA now. They can do it if they want to but lately they don't. Theyd rather get a degree in something economically useless and blame it on the man when they get stuck making coffee part time afterwards.

nice, fuck those kikes

Mass suicide, just imagine faces of banks and government because they have to pay all of these money themselves, priceless.

Hopefully it's enver solved. I'm never going to college so fuck em. On that same note I hope more and more people get obese. I'm not obese, so fuck em. Gives me a leg up that I desperately need.

Kill the loans. People need to stop attending college in droves.

There are so many ways to pay for college affordably. Go to community college for cheap, transfer in. Go to smaller, local schools. Live at home if you can instead of living in dorms. Go get a job first instead and use tuition reimbursement programs to help pay. A lot of basic fucking jobs offer tuition reimbursement, it's pretty surprising. No one dose these things, though.

I'm 24, starting 2nd year of undergrad. I worked crap jobs and saved a bunch of money and slowly chipped away at a year of credits at a community college. Transferred to small local uni, between FAFSA grants for my broke ass and scholarship and state grants I get for being a transfer (my state throws extra grants at students who go to community college and transfer) and commuting to school rather than living on campus I can get by paying ~$3k per semester out of pocket while grants and other such aid I mentioned are covering about $3.5k per semester.

It isn't the CHEAPEST thing, but it is hardly unmanageable. Even if I decided to put it all in loans I'd only end up with $18k-$20k of debt at the end of everything. Christ though, they REALLY want you to take money. I qualified in total among various loans for around $20k for a single year. Didn't take any of it though, don't need the loans.

Studying /sci/ tier Physics+Mathematics, but this kind of thing is available to anyone.

tl;dr
Bad system, but stupid people. Like everything else.

The average 18 year old is stupid as shit. Im almost done with a masters and im 8k in student debt.

KILL

THE

JEWS

Yes this is a major problem. I did a bachelors and then immediately went to work for the same uni; all told I have been showing up at the school for a total of 13 years now. Tuition increased every year I was a student and has continued to do so. Things the university spends money on:

>new buildings and infrastructure
>renovations of old buildings
>upgrading the vehicle fleet

Students are not paying for better caliber of professors or (in most cases) better access to tools/equipment/books related to their field of study. Everything is devoted to making the school bigger. Always bigger. Bring in moar students, charge them moar tuition, build moar buildings so we can get moar tuition. Also sink a fuckton of cash in to athletics because publicity or... something?

Scantron tests, multiple choice. Every. Single. Course.

It isn't even memorization at this point, it's pure recollection. (((Teachers))) don't even have to know a students name. Kids are told to write their student number on top of page.

What debt problem? I took 8000€ in voluntary loans for little extra, got paid like 500€/month for studying and finished degree in time which halved debt I took.

I think they might be referring to the burgerland debt stuff matey.

Kek.
I work at a British uni and this year the tuition fees are 9 grand.

The obvious choice is to do the undergrad in e.g. Germany or Austria, for next-to-nothing, and the move up to higher-ranked universities for a PhD.

Never had a single penny (or cent) of debt in my life and a doctorate in my pocket. Thank you, based socialist countries.

I hate this sentence. I really do

Before anyone can talk about this issue I would like to see an honest graph of how and on what these people spend these fucking loans.

I'm willing to bet the farm 75% of the money goes to housing expenses which these loans are NOT FOR.

Don't pay up.

Soon enough people are going to realize that young people simply do not have the economic opportunities in order to pay off their debt, there is not enough wealth in the country available to them to actually pay it all off, the whole shitheap will collapse in on itself and this debt will remain impossible to pay.

Degrees are not tangible, it is entirely possible, if not likely, that the payoff as a result of earning a degree will not match the amount spent on obtaining the degree, but that money needs to come from somewhere regardless of whether or not you have it. This whole racket is unsustainable, eventually debt will utterly overwhelm the value of a degree and it will be literally impossible for the youth to pay their dues.

So don't pay into it, hide your money until the whole thing collapses and debts are cancelled, there is no other outcome here, I'm saying you need to literally take your money out of the bank in gold and hide it in a fucking sock buried in a forest. They will come for everything you have, but eventually your debts will be cancelled and you'll be safe.

This is what it has come to, brainwashing the least informed, most vulnerable members of our society into taking loans on one of the worst investments you can make in the modern age. Your degree is fucking worthless and you wasted your money, if you want to save yourself the grief of the inevitable loss of everything you own, hide your money ASAP, it's not an exaggeration.

>I'm willing to bet the farm 75% of the money goes to housing expenses which these loans are NOT FOR.

Why don't they direct the loans then? In the UK the Student Loan Company pays the universities directly, the students don't ever see the loans that cover the tuition fees.

i'm so tired of hearing about student debt. so many people have student debt, its not just millenials, but they act so entitled that they actually ahve to pay it off it's so frustrating.
they study meme degrees that pay meme wages and then comlain that the tax payers should fund their idioitic trans studies degree. but i'm also hearing STEM majors with great paying jobs (i'm talking low 6 figures walking out of grad school) about their student loans living out in los feliz saying that they'll be paying off student debt forever. mind you, they don't want kids or anything. they just can NOT live within their means and pay off debt quickly.
;lertlwigladkshglkawhtaskdf i went to a state school, studied what i want, accrued 15k in debt, worked a shit job to pay it off and now i do freelance, live pretty lamely, but that was my decision and i'm not going to fucking complain that life isn't fair why don't i have a mid 6 figure salary already :'(
fuck

>t. someone without even the most basic understanding of economics

This

It's not the big of a problem, debts can be forgiven

By getting a job and paying off your loans like my parents and siblings did when they went to college (all deep 5 figures). Or don't go to college and learn a trade on your own like I did.

If you chose a 5 figure degree that pays 10/hr in the job market, thats your own fucking fault for being a god damn retard and you get what you deserve.

Speaking of debt I hit a rough patch and a couple credit cards went to collections. I've gotten better since then and I've gotten a few opinions on the matter, but basically:

Should I have ignored the portfolio recovery people? I caved in and felt bad for forgetting about my debt for so long and agreed to do 200/mo for 24 months.

Am I fukt you guys?

>major in gender queer studies
>take out enormous loans you agree to repay
>demand people who did hard majors repay your loans

Fuck millennials, bring back debtors prison

We are taking about American problems here Mohammed. I don't know shit about your sharia indoctrination camps/colleges and I don't care to learn about them either

trips of truth

>Stop pushing the "you need college to be successful" meme
>Eliminate FASFA

>most campuses require you live on campus (x) semesters when you start
>dorm rent is 2 times or greater than appatments 2 blocks away
>first time go around didnt know about buying books online, forced into 'buy books at bookstore' meme
>need to plan out other students murder inorder to land a less than minimum wage campus work-study

why is student loan so big?

Not permanently. Just pay what ever you owe and on time. Your credit score will slowly start to go back up and in 5-7 years with no additional bad shit it will be like it never happened.

Enjoy your red numbers and slavery to jew merchants.

Not everyone needs to get a four year degree. Arguably, most people should not go to college at all because it would gain them nothing and waste time better spent developing work skills.

Not true. University education cost inflation is a direct result of easy money due to the student loan bubble. Without cheap money, university tuition would return to earth. That needs to happen, and will happen eventually no matter what.

Think about it - the cost of education should have dropped significantly due to Internet and other technology that has made research, reading, and connecting with subject matter experts easy and widespread. Instead, university costs have exploded at least 1300% from what they were in the mid 80's.

If you want universal education, real education, you should cheer for this bubble to pop.

Most campuses don't require you to live on them guy. Your loans are not for living expenses.

Every moron I knew I college used those fucking loans to pay rent. I have no sympathy for a bunch of financially retarded students and their equally dumbass parents.

By the government no longer guaranteeing loans, but that's not something we can change. Thank liberals for that, and if they get their way, the problem will get even worse.

Welp better a Jew than a Muslim I suppose.

But if I don't go to college how am I supposed to enjoy hook up culture if I don't go to college? Isn't that why everyone goes? For the "experience"?

But the Fed's have inflated the cost of education as a result and saddled these kids with debt they will never be able to pay back if they get a degree in a worthless major.

I was reading online about these recovery companies having shady business practices but I suppose as long as the money goes towards getting the accounts settled and off my credit report then that's fine.

5-7 years after it's done, or after it leaves collections?

fuck those whinny shits. you are not forced to get a degree, go work "the jobs Americans won't work" if you are truly despite.The truth is they are just whinny faggots who feel entitled to shit, I could not pay for my uni so after 6th semester I took time off uni for 4 years, earned money, went back and got my law degree.

Except thats not how it works here. When the government began fafsa in the 70s, within two years tuition prices across the across the country began rising at an average of 9.5% every year. That trend has continued. The only reason for this is that their consumer base changed: universities were no longer tailoring their prices for people with limited income, uncle Sam with his near abyss like pockets was footing the bill instead. So yeah, end fafsa and tuition prices will either fall very quickly or universities will fail.

Yep. Dumbass people keep demanding collegiate services and they will keep supplying the experience at a premium all day every day.

Shit, if you were a Dean wouldn't you??

You literally don't even need college to be successful. It doesn't hurt (unless you are a moron to begin with and choose a degree that has no value in the job market).

With no degree you can enter IT, be a welder, electrician, contractor (handyman, construction, etc), automotive field (no just in a shitty gas station), plumber, get creative and start your own business, etc ...

I didn't get a degree, taught myself how to program, learned linux, got an internship, further refined my skills at work, and 20 years later make a deep 6 figure salary. Total student debt: $0.

I'm no body special, I have an average IQ. If I can do it anyone can. Except Muslims.

Also, fuck the Clintons.

Allow employers to intelligence test, rather than forcing people to signal intelligence via a degree. Griggs Power case and disparate impact as a "legitimate" concept created this monster.