Saturday, February 8, 2014

Student Debt

College graduates already owe the federal government a trillion dollars. This is money that the only way you can get out of it is to die.  To tackle this absurdity Obama raised the interest rates on student loans and reduced the amount of free money (Pell Grants) students receive; reducing Pell Grant funds forces students to have to borrow money from the federal government.  And Obama will loan just about anybody money and it's basically as easy as touching the "accept" button on your online student account.  Yet, although Obama promised future college graduates that they could get a job when they graduated, over 50% of college graduates are unemployed or underemployed.

It seems like every other student I ask, "What are you majoring in?", the answer is Psychology. What are we going to do with all of these Psychology majors?  The cost of an undergraduate degree in Psychology is at least four years of your life and around $30,000.  I think NMSU should have a warning sign on each of their degree programs....Warning!...a degree in Psychology will cost you four years of your life, $30,000 in tuition, fees, and books, and you will not be able to get a job in Psychology.

Instead you see and hear advertisements encouraging DACC and NMSU students to fill out their FAFSA (form to get federal loans) AND WE'LL SHOW YOU HOW TO FILL IT OUT.  That's how NMSU stays in business, because when a student hits the "accept" button for a federal loan NMSU immediately collects their tuition fees.  They continue to stay in business at the expense of young people.

The justification is that college is a good investment.  Is it?

The Prospector
December 3, 2013
Blake Lanhan