Reading this post made me feel so sad for our young people.

[dkf]

http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=389&topic_id=4047741&mesg_id=4048077

marshall (1000+ posts) Sat Sep-20-08 05:34 PM

8. Students are graduating college with almost a hundred grand of debt

"I work at a university and I am apalled at the ease with which students can rack up debt. I have seen them graduate with almost 100 grand of debt in student loans--and this is an undergraduate degree. And it isn't even counting the credit card debt they have racked up--and it is incredibly easy for them to get credit cards with several thousand dollars of credit. More than one have told me they view this as money in the bank rather than a line of credit.

Lending agencies have dropped their standard and we are paying for it now."

-------

It is unconscionable that we saddle our kids with this huge burden in life as soon as they become adults. Starting out knowing you owe close to a hundred grand must certainly skew a person's views on debt, otherwise it would be entirely overwhelming.

Why are we concentrating on the student loan side of the equation when we should be looking at these crazy costs! Is it really that expensive to provide a decent education? Maybe the states need to step up more.

[Eric J in MN]

1. In the 1960s, some state universities were free. NT

NT

[Ichingcarpenter]

2. I'm am thankful but sad

I told my kids to leave and get free educations in Denmark.

My brother is paying $40,000 for his daughter's law school
at the same law school he paid $3800 for his degree.

[dkf]

4. Your niece is very lucky your brother can afford that.

Looks like he made good use of his education :)

[Ichingcarpenter]

7. He's 63 and must continue working to pay for it

until he in 67. He took a loan out on his house for it.
So I don't think 'he's lucky'. He has incurred massive debt for it.

The thing is his law degree cost him less than 1/10 of that,
$40,000 a year vs his $3800 a year.


He's a lawyer and administrator for the state, he's not wealthy
and would fall well under the $250,000 a year tax bracket.

Me, I'm poorer than hell, with no insurance and bad health.

[dkf]

8. Ouch.

I guess that is the dilemma too...should parents put themselves into that much debt or should the kids do it.

[Ichingcarpenter]

10. My son's masters and doctorate costs him nothing and they pay him

a small amount every month to go to school. He has a part time job
and took out a small loan that he should be able to pay back the first year
he has a job after graduating.

Denmark exports their expertise through investing in their citizen's education.

[stillcool]

3. This article is from the NY Times..

lost the link along the way..

Pell Grants Said to Face a Shortfall of $6 Billion
By SAM DILLON and TAMAR LEWIN
Published: September 17, 2008
Battered by a worsening economy, college students are seeking federal financial aid in record numbers this year, leading Bush administration officials to warn Congress that the most important federal aid program, Pell Grants, may need up to $6 billion in additional taxpayer funds next year.
********“There may need to be an announcement in February 2009,” the memorandum warns, that Pell grants for the following academic year will be reduced.
“It’s the mother of all shortfalls,” said Barmak Nassirian, associate executive director of the American Association of Collegiate Registrars and Admissions Officers. “There’s more unmet need than anyone predicted.”
The Pell Grant, created in 1972, has long been the most important form of aid to needy students, and for millions, whether recent high school graduates or those who have been working for years, higher education would be impossible without such aid.

[dkf]

5. Shows where our nation's priorities are.

Bush/McCain would rather wage war in Iraq than help our kids with their education. This makes me SICK.

[Corgigal]

6. My youngest daughter is in a state college right now

but I would like her to apply at the college listed below. It's free and we fit the guidelines. I'm sure they have a long waiting list but I don't want her saddled in debt.


http://www.berea.edu/

[dkf]

9. Wow. What a great concept for a college!

Do you know how they get their funding?

[Corgigal]

11. No idea

Maybe you can check the website and find it. I'm sure it's in there somewhere.

[dkf]

12. I briefly glanced at it and they did mention a work program.

10-15 hours a week. Also they asked for donations. Interesting.

[Wiley50]

14. I think it's a religous school. I'm in TN pretty near there n/t

[Liberal_in_LA]

13. College grads are paying for their student loans into middle age these days.

[Indi Guy]

15. So much for the "Family Values" party...

The last thing the radical right wants is an educated youth. This didn't work well for them in the 60's (you know ...all of the college protests against the war.)

[Skittles]

16. it is F***ING UNCCEPTABLE

IT IS A DISGRACE - first we made 'em SELL SHIT in grade school, now we're saddling them with debt? IT STINKS.

[Arugula Latte]

18. Plenty of money for destroying Iraq and bailing out rich assholes, though.

None left for those frivolities like education and healthcare. :eyes:

[ticked]

17. The governments priorities are screwed

They will spend billions or even a trillion to bailout companies that screwed themselves up from greed and corruption. But our children have to eat a huge debt right out of college. I'm a struggling parent and my kids know that I can't afford to pay for their college. An my oldest (a senior) is already worried about how much college is going to cost. I have been trying to find scholarships to sign her up for to help. But where is the governments help in all this. Ohh yeah that's right they spent all the money for generations to come on a war we shouldn't be in and bailing out corp. america. :grr: