Saturday, July 2, 2011

This shocked me....

Not much does now-a-days with all that is going on, history being rewritten, criminals getting million dollar bonuses for wrecking the economy, but this shocked me.
You see, when I got my BA and went into the Master's program, I was working full time as a therapist and making semi good money. Thus I paid my college tuition in cash every semester and never took out any loans. I graduated solvent.
The average college student graduates $24,000.00 in debt and that doesn't count how much they put on credit cards for things like BOOKS. The only way you can get the discounted payments is to begin to pay the loan back instantly.
The implications of this are staggering. The average payment is going to be between 200 and 500 dollars per month. The average college student is going to find an entry level job at not much more than minimum wage. Just about all their disposable income for 5 to 10 years is going toward paying the loans off and remember, that doesn't cover credit card debt, a car or an apartment. Get an education and join the working poor living in your parents basement riding the bus.
And you may say, but this doesn't affect me. OH YES IT DOES!
That money being paid to government grants from all those students is money that is NOT going into the economy. Every penny is a product or service NOT bought. It is hurting you. It is hurting the country and the solution is not to force students into immediate payments in order to get the discount. They aren't making that much off the nondiscount and we all know the money is just heading for the Pentagons little macho wars anyway, i.e. out of the country.
Not only that, but any smart kid quickly figures out he is in over his head and is going to drop out before he mortgages his future in student loans. And you thought it was Obamacare....We are creating a University climate where even with financial aide, only the rich can afford to go to college.
Colleges and Universities have to do something, too. I have bought $250.00 books that were never opened during the whole semester but the professor checked to see if you had the book the first day and you weren't passing if you didn't have it. WHY? Because the publishing company gives him/her a publishing deal if so many of these worthless texts were sold to students and professors that aren't the big fish make very, very little money. It is a publish or perish world. I thought my professor's check, and he had tenure, was his weekly paycheck. It was his monthly pay check. I have no idea how he lived on it.
Just remember when you write that payment every month for stuff you already bought and probably have paid at least twice for, that money is not going into the economy. It is going into a banker's wallet. And that is why we are in a recession.

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