Student loan debt and no degree. The double whammy.

[MarathonMike]

In 2016, nearly 28% of those with student loan debt did not earn a degree at all. If you or your kids are heading to college you had better have a plan. College costs also include campus visits, parking fees, and a many other incidentals that all add up. If you are going out of state to get a non technical degree, the chances are high your debt will outweigh your earning power, especially if you drop out before you graduate.
The student loan problem no one is talking about

 

[usmbguest5318]

In 2016, nearly 28% of those with student loan debt did not earn a degree at all.

Well, I have to agree that going to college and assuming debt to do so doesn't make sense if one isn't committed to graduating. Matriculating to the workforce from college isn't hard to do, but it's nearly impossible to do, or do effectively (which includes graduating from a degree program), if one isn't committed to doing so.

The fact is that by the time one enters college, one is an adult. Colleges and universities are going to treat one as such, and part of that means they assume one is there because one wants to be and is committed to mastering all that's offered in the degree program and courses one selects.

If you or your kids are heading to college you had better have a plan.

I would say that it's more important that the person going to college have a plan, namely a goal achievement plan for completing their degree that includes what they intend to achieve and how they are going to achieve it. They also need to be ready and able to modify their achievement plan as it becomes apparent that it's necessary to do so.

Those actions are things they should have picked up, or that their parents guided them in developing, in the course of going to high school, so implementing any such plans should not be a challenge. If it is, they probably shouldn't be in college, at least not "right now." Going to college right after completing high school is not the best course of action, at that time, for all high school grads. As adults, it, again, is incumbent upon the individual to recognize that about themselves and act accordingly.

 

[Manonthestreet]

Brothers stepsons girl friend not quite graduated yet has qtr million in student loans to be a vet.......insanity

 

[eflatminor]

Over the last several decades, the more government meddled in higher education funding, including nationalizing the market for education loans (Ala Venezuela), the more the price of that education has outpaced the rate of overall inflation.

Absolutely 100% predictable.

 

[MarathonMike]

That is the other side of the coin, isn't it? Enormous student loan debt because of enormous increases in college costs. Government subsidized loans enable colleges to keep ramping up what they charge. As long as they keep getting "buyers" why not? Like any market system the seller will raise their prices until their product stops selling.

 

[MarathonMike]

In 2016, nearly 28% of those with student loan debt did not earn a degree at all.

Well, I have to agree that going to college and assuming debt to do so doesn't make sense if one isn't committed to graduating. Matriculating to the workforce from college isn't hard to do, but it's nearly impossible to do, or do effectively (which includes graduating from a degree program), if one isn't committed to doing so.

The fact is that by the time one enters college, one is an adult. Colleges and universities are going to treat one as such, and part of that means they assume one is there because one wants to be and is committed to mastering all that's offered in the degree program and courses one selects.

If you or your kids are heading to college you had better have a plan.

I would say that it's more important that the person going to college have a plan, namely a goal achievement plan for completing their degree that includes what they intend to achieve and how they are going to achieve it. They also need to be ready and able to modify their achievement plan as it becomes apparent that it's necessary to do so.

Those actions are things they should have picked up, or that their parents guided them in developing, in the course of going to high school, so implementing any such plans should not be a challenge. If it is, they probably shouldn't be in college, at least not "right now." Going to college right after completing high school is not the best course of action, at that time, for all high school grads. As adults, it, again, is incumbent upon the individual to recognize that about themselves and act accordingly.

18 year olds are adults by the legal definition but not in terms of maturity, at least what I've seen. They need help and guidance either from their parents or counselors. Otherwise the student loan debt crisis will continue to grow to the detriment of all. All except the banks.

 

[usmbguest5318]

Brothers stepsons girl friend not quite graduated yet has qtr million in student loans to be a vet.......insanity

Okay, but that's debt for both undergraduate and graduate degrees. Four years is "standard" for completing both types of degree, though some people take longer.

Obviously, where the woman chose to go to school (both types) plays a huge factor in the amount of her debt.

• Vet School Tuition

 

[Manonthestreet]

That is the other side of the coin, isn't it? Enormous student loan debt because of enormous increases in college costs. Government subsidized loans enable colleges to keep ramping up what they charge. As long as they keep getting "buyers" why not? Like any market system the seller will raise their prices until their product stops selling.

May be at that tipping point.....law schools are cutting back and closing......

 

[Manonthestreet]

Brothers stepsons girl friend not quite graduated yet has qtr million in student loans to be a vet.......insanity

Okay, but that's debt for both undergraduate and graduate degrees. Four years is "standard" for completing both types of degree, though some people take longer.

Obviously, where the woman chose to go to school (both types) plays a huge factor in the amount of her debt.

• Vet School Tuition

U of M I believe..... and did not live on campus so no dorm expenses

 

[usmbguest5318]

Brothers stepsons girl friend not quite graduated yet has qtr million in student loans to be a vet.......insanity

Okay, but that's debt for both undergraduate and graduate degrees. Four years is "standard" for completing both types of degree, though some people take longer.

Obviously, where the woman chose to go to school (both types) plays a huge factor in the amount of her debt.

• Vet School Tuition

U of M I believe..... and did not live on campus so no dorm expenses

did not live on campus so no dorm expenses

That's not surprising given the relatively low-ish total debt you say she's amassed for both undergrad and grad school degrees.

 

[Manonthestreet]

Lowish.......LLMMAAOOOO she'll probably be paying on that right up to close to retirement.

 

[Unkotare]

In 2016, nearly 28% of those with student loan debt did not earn a degree at all.

Well, I have to agree that going to college and assuming debt to do so doesn't make sense if one isn't committed to graduating. Matriculating to the workforce from college isn't hard to do, but it's nearly impossible to do, or do effectively (which includes graduating from a degree program), if one isn't committed to doing so.

The fact is that by the time one enters college, one is an adult. Colleges and universities are going to treat one as such, and part of that means they assume one is there because one wants to be and is committed to mastering all that's offered in the degree program and courses one selects.

If you or your kids are heading to college you had better have a plan.

I would say that it's more important that the person going to college have a plan, namely a goal achievement plan for completing their degree that includes what they intend to achieve and how they are going to achieve it. They also need to be ready and able to modify their achievement plan as it becomes apparent that it's necessary to do so.

Those actions are things they should have picked up, or that their parents guided them in developing, in the course of going to high school, so implementing any such plans should not be a challenge. If it is, they probably shouldn't be in college, at least not "right now." Going to college right after completing high school is not the best course of action, at that time, for all high school grads. As adults, it, again, is incumbent upon the individual to recognize that about themselves and act accordingly.

18 year olds are adults by the legal definition but not in terms of maturity, at least what I've seen. ....

"In terms of maturity," some 50 year-olds aren't. Too bad, the fact is that they are adults and must be held responsible as such.