Drowning in Debt: US students helpless to pay off education


A ticking time bomb of American debt. Over $830 billion are owed by college students in the US with $3 thousand more added on every second. The most traditional financial baggage for Americans was credit card debt. For the first time, debt belonging to college students has over taken that number one spot. “Students graduating in 2008, 2009 and 2010 are facing the worst job markets in a generation at least. And so you have people with more debt that we have ever seen before, who are having a harder time finding any job, let alone a job that pays them enough to somehow pay off all this debt.”

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25 Comments at "Drowning in Debt: US students helpless to pay off education"

F33bs October 11th, 2010 (#)

@WHIREAS Until your debt is 300% of your GDP and the Euro takes a dive. Entitlement culture is wrong, and the only reason Sweden manages to pull it off is because of the fantastically small population it has.

EarnanOMaille October 11th, 2010 (#)

LOL! We used to have to travel thousands of miles to find slaves …

birdybirdforever October 11th, 2010 (#)

Can’t wait until this bubble bursts. I can’t live like this much longer.

waverly2468 October 11th, 2010 (#)

Oprah is just as responsible as Dick Fuld or Angelo Mozillo for this debt crisis. She told kids to go to college without warning them about student loan debt. She must be getting kickbacks from Sallie Mae.

eddiesnumber1 October 11th, 2010 (#)

What do you get for wanting to educate yourself ? Debt, and a sick state of mind for your country. Not to mention a change in who you were before.. Thanks parents i went to college because you said it was the way.. They force you to agree with there point of view and prevent you from being an [individual]. LoL I hate this life. Mental slavery at its best. MK Ultra must be behind this…

ObamaSmellsBad October 11th, 2010 (#)

Brainwashed into thinking you need an education, yet it is only a debt trap to continue the banks’ raping of America.

midnightroamer October 11th, 2010 (#)

@SmrtJugoslaviji Grad school is even more expensive and many jobs want to see a MS.

midnightroamer October 11th, 2010 (#)

@SmrtJugoslaviji Grad school is even more expensive and manmy jobs want to see a MS.

ukrainianamerican October 11th, 2010 (#)

idk maybe what happens next is molotov coctails go thru windows of major loan organizations/elites….ever see Fightclub?
we cannot be brought 2 our knees without a fight!

ukrainianamerican October 11th, 2010 (#)

idk maybe what happens next is molotov coctails go thru windows of major loan organizations/elites….ever see Fightclub?
we cannot be brought 2 outr knees without a fight!

fuzzywzhe October 11th, 2010 (#)

@kojilalom you mean “break free”

SmrtJugoslaviji October 11th, 2010 (#)

@WHIREAS yeah i guess Eurotrash isn’t this bad after all ;)

SmrtJugoslaviji October 12th, 2010 (#)

120 000 $ OMG so ridiculous, 120 000 for what? I agree on fees for students but realistic fees. In Austria austrian citizens pay nothing, foreign students pay something about 360€ , thats about 500$ per semester. 6 Semesters 3000$, if you are a bad student double this makes 12 semesters than with 6000$ but 120 000$ FOR WHAT? OMG i get dizzy by looking at this number.

Thank GOD im “Eurotrash”

Apart from that education in Europe is much more qualitative than this 120 000$ education…

iflyboats October 12th, 2010 (#)

Education is a methaphor for the liberal concept of “social justice.” Well, it appears that the liberals didn’t know what the hell they were talking about after all, because now millions of young people are financially ruined for the rest of their lives thanks to have spent hundreds of thousands of dollars on worthless liberal arts degrees that neither made them qualified to do anything nor taught them anything of any actual value. Great going, hippies.

mookixox October 12th, 2010 (#)

I tried my hand at a Canadian university, the staff (excluding professors) went on strike for weeks and they told the students to clean up all the shit in the classrooms and hallways! If this wasn’t bad enough, they assigned us an economics professor who could barely speak english (this coming months away from a debacle of a professor who never graduated highschool teaching 400 level physics)…It’s a fucking PYRAMID scheme! GET OUT NOW

rllang01 October 12th, 2010 (#)

@Paetaor I went to technical college, part time, at night, while I worked.
I got my certificate’s of completion, sat for license exam and I payed cash for all of it.
But the registrar’s office was full of pamphlets on how to get a loan and a lot of students had them.

Its the Education Industrial Complex

rllang01 October 12th, 2010 (#)

wow, a million dollar fine for columbia university.
and how much did they make from their scheme, 10 million, 50 million, 100 million ?

And who exactly was fined, the Dean, the President, or the institution itself ?

Would’nt you like to be able to rob a bank for $10,000 and if you get caught, you only have to pay a $1000 dollar fine.

campaign4liberty October 12th, 2010 (#)

Love Peace Justice
LibertyPoet
website

goobleywoobley October 12th, 2010 (#)

Too many people trying to be chiefs and not enough indians

mymovienerd October 12th, 2010 (#)

@themightyjoseph I checked on there channel and they have more news about America than any other country including Russia. If you clicked on CNN in America you would of course get world news but they hardly concentrate on one country so much as this news agency. I almost never see anything in American world news broadcasts about Russia so why would a Russian broadcaster spend so much time on American news? I think hating on America has become a worldwide pastime even bigger than your football.

Paetaor October 12th, 2010 (#)

Too much money wasted on non-educaional activities.

I went to an engineering school with no sports teams, bars or too much administration.

I left with $10k debt.

themightyjoseph October 12th, 2010 (#)

@mymovienerd Just because the name of the channel is russaitoday, does not mean they should only report on whats happening in Russia. Its like if BBC were to only report everything in UK.

LORDMCHUGH October 12th, 2010 (#)

@mymovienerd i do, there is a lot of coverage on russia, it covered the wildfires in much depth

mymovienerd October 12th, 2010 (#)

Why isn’t this called America Today for Christ’s sake, I almost never see news about Russia on this fucking channel?!!

Weltgeist13 October 12th, 2010 (#)

I’m stuck in student loan DEBT to ITT in southern California. Whatever you do, do not buy those B.S. commercials on TV. Stay far , far away from ITT Tech. as you possibly can! Drop out now, if you can too, from any of these schools that deep down, you know they’re a scam & ripping people off. Without students, they will go down. Sign petitions, get lawsuits going, get legal reps. to back you up & fight for you right to support yourself with income!