Author Topic: Students strike against debt from for-profit "colleges"  (Read 5339 times)

WES

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Students strike against debt from for-profit "colleges"
« on: February 25, 2015, 12:14:14 PM »
Rolling Jubilee has repaid $13  million in loans for over 9000 students. And spinoff movement  Debt Collective announces a "strike" today, refusing to pay loans and demanding that DOE cancel debt for education at for-profit schools like Corinthian.
Quote
If you owe the bank a thousand dollars, the bank owns you.
If you owe the bank a trillion dollars, you own the bank.
Together, we own the bank.
http://www.theatlantic.com/education/archive/2015/02/the-guardian-angels-of-student-debt/385756/

Chart of who owes what in student debt: http://taxprof.typepad.com/taxprof_blog/2015/02/ny-fed-.html

BBingo

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Students strike against debt from for-profit "colleges"
« Reply #1 on: February 25, 2015, 02:26:38 PM »
It really is a huge issue, one which I don't appreciate funding through my taxpayer dollars. For profit institutions really don't have much incentive at this point to do anything other than enroll folks that don't know what their educational options really are.


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Fred93

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Re: Students strike against debt from for-profit "colleges"
« Reply #2 on: March 06, 2015, 12:27:31 AM »
Debt Collective announces a "strike" today, refusing to pay loans and demanding that DOE cancel debt for education at for-profit schools like Corinthian.

A**hole students borrowed money and now don't want to pay it back.   Remind me to not loan money to any of these guys in their post-college life.

rawraw

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Re: Students strike against debt from for-profit "colleges"
« Reply #3 on: March 06, 2015, 04:58:36 AM »
Debt Collective announces a "strike" today, refusing to pay loans and demanding that DOE cancel debt for education at for-profit schools like Corinthian.

A**hole students borrowed money and now don't want to pay it back.   Remind me to not loan money to any of these guys in their post-college life.
It's not quite that simple

core

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Re: Students strike against debt from for-profit "colleges"
« Reply #4 on: March 06, 2015, 05:13:37 AM »
It is really that simple.  Except maybe for the name-calling.  A better name to call them would be something like young idiots because there was no malice intended at the time.

THEY chose to borrow the money.  Nobody forced them to go to college, and higher education is not a right.  If you want to go that badly then you can get out there and WORK and pay for it along the way if it's that freaking important to you.  But no no, we've got people going to liberal arts schools for 8-12 years getting BS degrees because "education is good".  Yeah sure.  And then they become burger-flippers or librarians pushing books around on a cart for $14/hr.

I've got absolutely no sympathy for these idiots.  If anything needs to be changed it's that the government should stop guaranteeing these loans so it's HARD to get a student loan.  Then prices may come down... because as it is, there's nothing to stop the skyrocketing costs.  And if they don't come down, who cares.  Let the market work.  Then eventually maybe employers would stop requiring a 4 year degree to be a garbage man. <-- useless
« Last Edit: March 06, 2015, 05:15:29 AM by core »

rawraw

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Re: Students strike against debt from for-profit "colleges"
« Reply #5 on: March 06, 2015, 07:16:54 AM »
Forced is a strong word and it really depends what you mean.  If you mean imposed by power, there are plenty of areas of society which exerts force upon people to get to college, including: parents, employers, society, etc.  Not saying that I think it's a good idea to take out loans and default, but the institutions in question have gotten really good at predatory practices exploiting those forces given that student loans are so easy to get during a time where no one could get jobs.   It's a real mess

core

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Re: Students strike against debt from for-profit "colleges"
« Reply #6 on: March 06, 2015, 12:46:21 PM »
Yes, it is a real mess.  Mostly caused by the government.  If Uncle Sam hadn't "helped", the predators would have had no teeth.  Also student loans would have been bankruptable and eventually the market would have worked itself out.

If the government offers any more "help" (in the way of forgiveness/etc) it's just going to get worse.

Fred93

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Re: Students strike against debt from for-profit "colleges"
« Reply #7 on: March 06, 2015, 02:02:02 PM »
Yes, it is a real mess.  Mostly caused by the government.

OMG.  I agree with Core.  The government has been the predator here, encouraging this stupidity.

Fee

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Re: Students strike against debt from for-profit "colleges"
« Reply #8 on: March 06, 2015, 03:02:21 PM »
Academia pushes college degrees like a corner drug dealer pushes the rock. There is a reason why many blue collar jobs pay more than many of those requiring a 4 year degree. Supply and demand will always rule the day. These kids should be blaming the colleges and their parents for not facing reality when it comes to the job market and the true value of a college degree.

brycemason

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Re: Students strike against debt from for-profit "colleges"
« Reply #9 on: March 06, 2015, 06:30:42 PM »
But no no, we've got people going to liberal arts schools for 8-12 years getting BS degrees because "education is good".

I think you mean they were getting BA degrees. Haha!