Federal student loans defaults are dragging on the economy — making it impossible for people to buy cars or homes —well, it seems like the federal government of the United States has got itself into an economic pickle. Further many of these grandiose ideas of retraining Americans for future jobs seems rather troubling.
Consider if you will that technology is moving fairly quickly, and we don’t know what types of jobs there will be in the future, and we can’t seem to find jobs for those students that are graduating right now.
Students Graduating Have Student Loans To Pay
Worse, the students graduating have student loans to pay, and if they don’t get to work in the next five years, their degrees won’t be worth the paper they are written on anymore, as the job market will change.
As a taxpayer, this concerns me greatly because as a taxpayer I am guaranteeing those student loans. I have been further dismayed at the fact that the tuition costs are rising rapidly, but the benefits to students who have degrees have not increased. In fact, the benefits of those levels on student’s resume have decreased. What I’m saying to you is the cost of college tuition has risen, but the benefits of those college degrees have diminished so the students may never pay back those loans. Therefore the overall value is worth quite a bit less, and therefore I want to know why my tax dollar is guaranteeing the student loans to pay for it all.
The Wrong Way To Play It
It seems as if whenever we look for the federal government to help create jobs for Americans, which I believe to be the wrong way to play it. the federal government always says that we need to retrain our workforce. and offer more courses at community colleges and universities to prepare people for the new jobs as our economy changes. Yes, we’ve been doing that, we’ve been doing that for a long time with grants, low-interest rate student loans, and more money being funnelled to colleges and universities, but it hasn’t worked.
- In planning for the successful repayment of your student loan, many things must be taken into consideration.
- To get ahead of the game you shouldexpect to repay the loan before you sign the first promissory note.
- In a perfect world this might be the case, quite the contrary most students do not consider student loans repayment until after they have graduated from college and land their first job.
Retraining Alone Doesn’t Do the Job
There was an interesting article in the LA times not too long ago which was titled; “Retraining Alone Doesn’t Do the Job,” and it appeared on Sunday, July 10, 2011, in a special section titled “Rebuilding America” by Don Lee. That was a paramount article, and perhaps it makes my point for me here. Our local community college where I live has been graduating more and more students with AS degrees in industries and subjects for which they cannot find jobs.
It appears to me to be arrogant for the federal government to tell us that they know how to create jobs at a time when they are grabbing hold of production, capital flows, and money flows if not downright nationalising industries, and destroying jobs. They tell us that the answer is education, but they always say that, and it never is, meanwhile we are digging a bigger hole, and we’ve created a bubble in academia which has raised the cost of going to college to the point where there is no return on investment for that education.
Apparently, the utopian socialist society we were promised is beginning to crack. Isn’t it time that we cut our losses and took America back student loans?