or Connect
Styleforum › Forums › General › General Chat › Things That Are Bothering You, Got You All Hibbeldy-Jibbeldy, or just downright pissed, RIGHT NOW!
New Posts  All Forums:Forum Nav:

Things That Are Bothering You, Got You All Hibbeldy-Jibbeldy, or just downright pissed, RIGHT NOW! - Page 5330

post #79936 of 85684
Yup
post #79937 of 85684
Whenever I see parents putting heavy pressure on someone's college study decisions... I think "asshole"
post #79938 of 85684

The term 'millennial'.

 

I don't even know what it means. Is that someone born after 2000? Someone born from 1980-2000?

 

The way it's used in the news it's basically code for 'young people these days....'

post #79939 of 85684
Quote:
Originally Posted by Piobaire View Post

This is not untrue. I think student loans were made too readily accessible and any number of bad results have happened systemically because of the easy availability.

Yup. This also contributed to the housing bubble/crash we're all still recovering from.
post #79940 of 85684
I think Vanessa's "fancy restaurant in Berlin" is code for "red light district". Amirite!!
post #79941 of 85684
Quote:
Originally Posted by Kid Nickels View Post

@Piobaire's focus on ROI is really what's important. One of my best friends went maybe $150K in loans for his medical degree to get a job that pays him easily 3x that. That makes sense. I did relatively the same to go to a top law school and the best in my field… so yeah that's a good investment.

The thing is student loans became about civil rights, "diversity," and self actualization. I had a little over 70k when I finished my second grad degree, but as we have both experienced, my ROI was huge.

I don't think a simple risk assessment of probable future earnings vs. what student loans one is allowed to take on would be onerous or lead to disparate treatment. IMO student loans were all about a societal investment and investments require some sort of due diligence.
post #79942 of 85684
We just need more kids to go to vocational schools.
post #79943 of 85684
Quote:
Originally Posted by Piobaire View Post


The thing is student loans became about civil rights, "diversity," and self actualization. I had a little over 70k when I finished my second grad degree, but as we have both experienced, my ROI was huge.

I don't think a simple risk assessment of probable future earnings vs. what student loans one is allowed to take on would be onerous or lead to disparate treatment. IMO student loans were all about a societal investment and investments require some sort of due diligence.

 

nobody in their right mind makes loans on the value of the loantakers assets, collateral, etc. they make loans based on the likelihood of the recipient paying it back. it's hard enough to ascertain the value of a degree now, much less in the future. so it basically comes down to a question of character: does this person have a reasonable history of managing debt? if yes, then they will likely continue to do so. but most 17-, 18-year olds don't have that kind of history to examine.

 

EDIT: when i refer to loan taker's assets, i'm specifically referring to the value of the asset that the loan will cover: housing, degrees, cars, etc etc. if you've got a million dollars you can and will get a loan for ten grand.

post #79944 of 85684
I got into a bunch of M7 MBA programs two or so years ago. Would have taken full tuition in loans + housing and food + lost wages.

facepalm.giffacepalm.giffacepalm.giffacepalm.giffacepalm.giffacepalm.giffacepalm.gif
post #79945 of 85684
Quote:
Originally Posted by double00 View Post

nobody in their right mind makes loans on the value of the loantakers assets, collateral, etc. they make loans based on the likelihood of the recipient paying it back. it's hard enough to ascertain the value of a degree now, much less in the future. so it basically comes down to a question of character: does this person have a reasonable history of managing debt? if yes, then they will likely continue to do so. but most 17-, 18-year olds don't have that kind of history to examine.

EDIT: when i refer to loan taker's assets, i'm specifically referring to the value of the asset that the loan will cover: housing, degrees, cars, etc etc. if you've got a million dollars you can and will get a loan for ten grand.

I'm not sure what you're trying to say here. I think we can be fairly sure your average social worker, teacher, art history, poly sci, etc. should not take on 100k or more of debt in student loans as they cannot possibly service it. One doesn't need to judge character to know making 45k a year means you can't service a 100k loan plus lead a normal life. Just look at the profession and make some basic risk assessment.
post #79946 of 85684

nope. cart before the horse. make less loans, guess what? easy credit dries up, prices will come down. 

 

see 2008

post #79947 of 85684
Quote:
Originally Posted by GreenFrog View Post

I'm going to play devil's advocate here: to what extent should the blame lie on the parents for their kids' college choices, including what they decide to major in?

Can we really expect dipshit 18 year olds to have the foresight and capacity to make such important life choices at that age?

I know it's fun and easy to just blame the Millenials, but this is a massive failure on the part of parents, the gubment, college administrations, and yes, the kids.

All of you with kids: what would you tell them if they had middling grades and wanted to take out massive loans to pursue an English degree at NYU?

That's part of the thing, right? Most mistakes an 18 year old can make are temporary, unless you knock a girl up. Making a bad choice in college? You're screwed. Lots of kids grew up with a constant drumbeat of being able to chase their dreams, go to the college that's "the best fit" , you deserve the moon and stars and you're a rockstar and should never settle for anything that wasn't the best. Then they go to NYU for five semesters, can't hack it, and are 100k in debt. Whoops. Enjoy paying that shit off for the next 20 years. They never got messages about ROI, realistic career planning, etc. They got sold a bill of goods about "dreams," and now they're screwed.
post #79948 of 85684

i would challenge your premise further: how do you make a risk assessment for something like architecture, which is an extremely volatile boom-and-bust profession? and yet considered by most to be an honored vocation but in reality is full of itinerant gunslingers.

post #79949 of 85684
Even stuff like STEM degrees. I know some people who went into petroleum engineering, which was the #1 paying profession out of college at the time they went in. Now they're screwed, and will remain screwing until the Saudis decide to shut off the tap. How do you price that?
post #79950 of 85684
Quote:
Originally Posted by double00 View Post

i would challenge your premise further: how do you make a risk assessment for something like architecture, which is an extremely volatile boom-and-bust profession? and yet considered by most to be an honored vocation but in reality is full of itinerant gunslingers.

You think you're challenging my premise but you're really not. You want to drag in an example you think is full out outliers vs. what I'm talking about. Also, one can just do a regression and get "median architect salary" and decide what the standard max loan should be. It's really not complicated and just a tiny bit of fucking common sense could fix a multitude of problems. A social worker is never going to make 150k a year being a social worker, a grade school teacher is never going to make 200k a year being a grade school teacher, so simply make available loans scale.
Quote:
Originally Posted by Gibonius View Post

Even stuff like STEM degrees. I know some people who went into petroleum engineering, which was the #1 paying profession out of college at the time they went in. Now they're screwed, and will remain screwing until the Saudis decide to shut off the tap. How do you price that?

One can never account for black swans but that does not mean regulators should toss their hands up at the thought of due diligence. Know what happens when this occurs?

This article we're all talking about.
New Posts  All Forums:Forum Nav:
  Return Home
  Back to Forum: General Chat
Styleforum › Forums › General › General Chat › Things That Are Bothering You, Got You All Hibbeldy-Jibbeldy, or just downright pissed, RIGHT NOW!