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+--- Thread: The Human Face of Student Debt (/Thread-The-Human-Face-of-Student-Debt)
The Human Face of Student Debt - Saharapost - 01-03-2016
I thought someone might be moved just as I was after watching this video.
[video=youtube;_tV6L-wzfHY]https://www.youtube.com/watch?v=_tV6L-wzfHY[/video]
The Human Face of Student Debt - sanantone - 01-03-2016
Call me cold-hearted, but I don't feel the least bit sorry for a couple of these people. You don't need a degree to become a medical assistant. You can either be trained on the job or complete a certificate program. For an occupation that pays less than $30k a year, I don't know why anyone would get an associate's degree in it. There are many other allied health fields that pay more and only require two years of training. Since medical assisting is not a licensed field, you should do the minimum required to get one of the desirable certifications. Without a degree, you can make just as much money working in a call center. The woman who racked up $28k in debt for her medical assisting program either attended an expensive, private, technical school or took out more money than needed for living expenses. With nursing programs, I know it's difficult to hold down a job while in school, but the ROI is so much higher.
The woman whining about spending almost $300k for Chinese Medicine makes me want to slam my head against a brick wall. She knew how expensive the program would be when going in. She should also know that most people practicing Chinese Medicine will not make a lot of money. If you're going to spend $300k, then become a nurse practitioner, MD/DO, or physician assistant. Becoming a nurse practitioner would probably be cheaper than getting a graduate degree in Chinese Medicine. There are certificate programs in complimentary and alternative medicine for healthcare professionals. Many DOs practice alternative medicine. Even completing a doctor of naturopathy in the states that recognize the field or chiropractic program would be a smarter investment than spending $300k on a Chinese Medicine program. But, if that's really her passion, she should accept the expenses. No one made her do it.
The Human Face of Student Debt - dfrecore - 01-03-2016
I did really like the lady who has an overwhelming amount of debt, and now she's going to have to borrow to pay for her 17-year old to go to college. Apparently she didn't learn her lesson.
The ones that owe $26k or $30k can certainly pay those back in less than 10 or 20 years. I've bought cars for almost that much and paid them off in less than 4 years, so those are doable. Not fun, it might mean that they had to drive a crappy car for a few years instead of get a new one like some of their friends, but that's a small price to pay to get that monkey off your back.
This is all just sad.
The Human Face of Student Debt - sanantone - 01-03-2016
dfrecore Wrote:I did really like the lady who has an overwhelming amount of debt, and now she's going to have to borrow to pay for her 17-year old to go to college. Apparently she didn't learn her lesson.
The ones that owe $26k or $30k can certainly pay those back in less than 10 or 20 years. I've bought cars for almost that much and paid them off in less than 4 years, so those are doable. Not fun, it might mean that they had to drive a crappy car for a few years instead of get a new one like some of their friends, but that's a small price to pay to get that monkey off your back.
This is all just sad.
This is true. $25k-30k in debt is not all that crippling when you consider that people spend about that much on new cars. At least the degree will be a smarter investment than a new car. If all else fails, then work for the government or a non-profit organization to have your loans forgiven after 10 years of being on the income-based repayment plan.
The Human Face of Student Debt - Saharapost - 01-03-2016
I like to think of it this way - if these people knew that there are other means of getting same education (degree) at a fraction of what they are owing in student loan, they would probably not have taken the loan. The woman with about 300k in student loan debt almost brought tears to my eyes. Yes, she should learn her lessons and not resort to borrowing for her daughter. But then, when one doesn't have information, one may have to knowingly commit the same mistakes again and again... But I agree that, even if I were to go into such amount of debt, it would for the highest paying degree....
The Human Face of Student Debt - dseminario1 - 01-03-2016
Some people never learn - The one that really got to me is the guy coming from a Latino family...he states that to pay for education isn't worth it anymore...absolutely disagree.
I came from South America almost 15years ago and was able to get myself into jobs that required a Bachelors. I consider myself a street smart, but that can only help you up to a certain point. Soon you realize that better paying jobs require one (specially in advertising). Even though some think that a bachelors is not as valuable as it was 10 years ago, I believe that it boosts up your confidence and still opens up many more doors than a self thought individual.
In addition, these individuals that rack all this debt need to do their research. It is so easy to say "ok, Im going to school and all I need is a degree to get a good job" that is so not true. Research should be a priority for anyone looking to get a better education and I have to agree with sanantone...in a way I don't have any sympathy for them.
In real estate is all about location location location...this can be translated into your own education as well (research, research and more research).
The Human Face of Student Debt - SuzanneD - 01-03-2016
I do feel kind of sorry for the medical assistant. I fee like she got sold a degree that is not very useful. An 12- 18 month licensed vocational certificate would have offered her a lot more opportunity and money.
The Human Face of Student Debt - smrt - 01-03-2016
I do have a bit of sympathy for these folks. When you're 17 or 18 and start making the decisions that lead to massive student debt, you don't necessarily have the knowledge or experience to know how much you're hobbling yourself - Especially when conventional wisdom (and parents, as I heard a few times in the video) tells you that you MUST go to college to make something of yourself. That tune only changed in the last 5 years or so.
The Human Face of Student Debt - cookderosa - 01-03-2016
sanantone Wrote:If all else fails, then work for the government or a non-profit organization to have your loans forgiven after 10 years of being on the income-based repayment plan.
Not that it matters too much, but loan forgiveness can't be sought when all else fails. In order to qualify, you have a perfect payment history for those 10 years and continued employment in an approved job before you can apply.
The Human Face of Student Debt - cookderosa - 01-03-2016
I have compassion and pity because it's not 1 or 2 people, it's TRILLIONS of dollars worth of people. Trillions. Whether or not you feel sorry for someone in this video isn't really the macro-point, it's kinda the micro-point, which is easy to dismiss as stupidity. I used to have an attitude of "well you should have known better sucka" which would be true if there were EVER a point in secondary education that someone taught people about obtaining a postsecondary education responsibly. Fact is, that it's learn as you go. Who sat you down and taught you, at age 17, to choose a career with good ROI, how to borrow responsibly, to evaluate the quality of colleges you were considering (using some random criteria made up by some expert) and then how to apply that in the workplace. Maybe your parent did, maybe a teacher did, maybe a counselor did - and if that's true, you were one of the lucky ones.
The fact is that there is an enormous hole surrounding this topic, and most people fall into it.