September 8th 2010 03:43 am
Drowning in Debt: US students helpless to pay off education
A ticking time bomb of American debt. Over 0 billion are owed by college students in the US with 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.”
Top Related Sites
- The Sub Tub, Part Trois: The Guest Teacher Handbook | The Teacher Geek
- Credit Card Debt Problem: Can a Debt Consolidation Loan Solve It? | Online10.info
- Practical Advice for Reducing Credit Card Debt | Niche Volumes
Mail this post
Tags: Anastasia Churkina, bankruptcy, college, college loan, Danny Schechter, Dennis House, economic crisis, indebted, job market, jobless, Joe Weisenthal, Max Wolff, paying off school loan, RT, school credit, Shana Falb, slow economy, student loan, university education
25 Comments »
billyjones1985 on 06 Sep 2010 at 5:21 am #
usa is fuckked!!!
rock3tcat on 06 Sep 2010 at 7:05 am #
@coldbedsheets
Getta fakka outta hera…
coldbedsheets on 06 Sep 2010 at 7:42 am #
@rock3tcat
what? Do you not believe me? Russiatoday is funded by the russian government. You can go look on their homepage yourself. They say it clearly on the right hand side.
AustrianAtheist on 06 Sep 2010 at 8:23 am #
Education is a human right, not a personal investment. Why do you US-Americans pay taxes, if not for education/health care?
Education is not only a tool to make money, it is also about science, culture, history, ideas. And yes, when students have to pay for education, statistically that is an advantage for the kids with rich parents, that pay…
AustrianAtheist on 06 Sep 2010 at 8:31 am #
In Denmark, education is not only free, the state even gives you money, so that you can live an average life during your studies – and not only the rich kids.
If you want to study for free, go to Denmark, Slovenia, Hungary, Austria, Sweden, Finnland, Irland, most of Germany, Venezuela, Kuba
littletammy20 on 06 Sep 2010 at 9:02 am #
I am a law student i am lucky dad pay for my educaton but i have friends at school that have 80000 in loans and not sure they will have job after they finish so sad.
emzademon on 06 Sep 2010 at 9:43 am #
@AustrianAtheist it’s call capitalism
Ranger4564 on 06 Sep 2010 at 10:30 am #
I had $75,000 at 8% interest. I am almost done finally… a little over 1.5 years. I think once this goes far enough, students should get out in the streets and protest, just like they do in most countries. Someone has to stand up in opposition to this mechanism… but ironically, most people defend it. It’s sado masochism, we just happen to call it Capitalism.
Ranger4564 on 06 Sep 2010 at 10:36 am #
@Ranger4564 I meant, I should be paid off in 1.5 more years. I did not mean it took me 1.5 years to pay it off. I’ve been paying this loan (all from grad school) since 1996. At 8% interest, the principal doubles in 9 years. So you get an idea of how much I finally did end up paying on that $75,000 loan. The original loan amount was heinous enough. But with interest, I paid about $150,000. I also had undergraduate loans for $35,000 which are paid off completely now. O.o
bhasinuscuscable on 06 Sep 2010 at 12:59 pm #
i completed my B.S in India (Electrical Engineering) at that for a mere 4,000$ for a 4 Year course………..that is 1000$ per year. This cost included my lodging and food.
I came to the USA for my M.S and my 2 year course cost me 30,000 $ in Total.
Thankfully, I got a job after graduation and cleared my loans………..But on the hindsight, I really regret as to why did I spend that much money for NOTHING.
My Indian education was at par or better than the US one!.
.
dragoon84 on 06 Sep 2010 at 1:34 pm #
I’m $40,000 in the hole from student loans. I will never be able to repay them. At some point, I’m going to default and probably bring my parents down with me. Its an awful situation of my own devising, I am to blame, I took the loans, didn’t finish school to at least get that worthless piece of paper, and now I’m stuck.
I hope the banksters and the people in government behind this BS get theirs. And they will. Karma is a bitch, no?
rapehitler on 06 Sep 2010 at 2:56 pm #
@SolomanKane2k8 everyone blames the government, your argument is invalid.
kalimeraHellas on 06 Sep 2010 at 3:09 pm #
@Gonji In Greek universities there is a behind the back deals with the diplomatic works and papers doing by the students without them ever knowing that some teachers gives that papers (with huge profit) to some major companies. The mystical deals and contracts discovered in a protest and occupation by the students. Universities who doesn’t serves the public.. Yet every idiot goes there to give easy knowledge (or knowhow) to the oligarchy. They sell their minds and soul to evil intersets.
kalimeraHellas on 06 Sep 2010 at 3:21 pm #
@dragoon84 40000 is too much. With that money you can go to Greece and put some solar panels and sell electricity to the electric company. In 10 years or less you are king.
EdwardRommel on 06 Sep 2010 at 4:10 pm #
@AustrianAtheist
Yes…scandinavia does have wonderful free universities but also keep in mind that the top tax rate in Sweden is about 70%. In the US the top rate is 36%
So you are still paying for the university education in the form of higher taxes…but it does help out the young…at the expense of the older people.
SolomanKane2k8 on 06 Sep 2010 at 6:09 pm #
@rapehitler Bullshit, you blame Muslims and Mexicans for all your problems becuase you do not have the balls to hold your pro-Israel government accountable.
rapehitler on 06 Sep 2010 at 8:14 pm #
@SolomanKane2k8 Oh please, there are over 300 million people in the US. Seems pretty fucking retarded to just go ahead and say the majority (or all) blame Muslims and Mexicans. You most likely haven’t even seen our polls. Your argument is hilariously invalid and inaccurate.
You said “you” so I assume you are implying shit about me, first of all I am anti-Israeli not pro and I do blame the government for that but its not like that view will actually change anything.
kojilalom on 07 Sep 2010 at 12:27 am #
Modern formal education is the reason humanity is in the miserable state we are in. The original premise of knowledge and the means to realize a better tomorrow for yourself quickly gives way to vast amounts of disinformation, propaganda and behavioral modification turning you into the “ideal” citizen. The docile, unquestioning, ignorant robot for the lower IQ individual and the greedy, morally challenged, narcissistic egomaniac for the higher IQ individual. Ready to brake free?
campaign4liberty on 07 Sep 2010 at 3:09 pm #
Stop Wars!
End the Fed
Liberty Poet
website
WHIREAS on 07 Sep 2010 at 3:14 pm #
I am SOOOOOOOOOOOOO fucking LUCKY I live in Sweden, I will always be happy here, and money will never be a problem
MentalHenryKissinger on 08 Sep 2010 at 12:01 am #
@WHIREAS I live in Canada..and doomed to debt / death by my student loan and credit card company.. and oh, no job
MentalHenryKissinger on 08 Sep 2010 at 12:01 am #
@bhasinuscuscable Yes, I know
MentalHenryKissinger on 08 Sep 2010 at 12:02 am #
@littletammy20 i know
MentalHenryKissinger on 08 Sep 2010 at 12:02 am #
@emzademon yes, brutal capitalism…well..same in Canada which got a mixed economy… CLASS STRUCTURE DESTRUCTION
Weltgeist13 on 08 Sep 2010 at 2:06 am #
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!