5 votes

Paid Off: TV show offers to pay off student debt

10 comments

  1. crius
    Link
    I just find it absurd that this is still something to discuss and that there are other EU country that have those ridiculous prices like UK ($30,000), Australia ($22,000), Canada ($20,000) or...

    I just find it absurd that this is still something to discuss and that there are other EU country that have those ridiculous prices like UK ($30,000), Australia ($22,000), Canada ($20,000) or Germany ($2,400) when in Italy, where I came from, the vast majority of universities are public and of good to excellent quality but only cost the student around 1.000€ per year. The very few privated goes around 10.000 - 15.000 per year.

    Of course those prices don't include the price you've to pay for a room or meals, simply because you could be living close to a university or you could be a commuter (I was, living close to Pisa).

    But even that, if you have expenses like those, you are eligible to send your and your parents/guardian previous year earnings/expenses and are entitled to have up to 70% discount, if I can rememeber, to help you out.

    It is pretty sad that something like knowledge is closed behind how much you can afford to pay.

    7 votes
  2. Diet_Coke
    Link
    I heard about this on NPR - they played a clip from the ending of the show where a voiceover says something like "we paid off three people's student loans today, but over 4.2 million people are...

    I heard about this on NPR - they played a clip from the ending of the show where a voiceover says something like "we paid off three people's student loans today, but over 4.2 million people are still out there. Call your congressperson today and demand action on student debt!". At first I thought it was going to be some exploitative schlock, but it actually could be a good thing.

    One way that debt controls us is that there is a sense of shame from being in unmanageable debt. We don't want to discuss it. This show may at least help people feel like they are not alone. Once we can talk about our own experiences and issues, maybe we can start taking steps to address the problem.

    5 votes
  3. [5]
    nil-admirari
    Link
    Does anyone think this is some twisted form of The Hunger Games or a good way to bring attention to the problem?

    Does anyone think this is some twisted form of The Hunger Games or a good way to bring attention to the problem?

    3 votes
    1. Catt
      Link Parent
      Can it be both? Though I am a pessimistic so I don't believe it will be anything other than entertaining. We can talk about bringing attention to the cause, but everyone and their dog knows about...

      Can it be both? Though I am a pessimistic so I don't believe it will be anything other than entertaining. We can talk about bringing attention to the cause, but everyone and their dog knows about student loan (and medical) loan issues.

      A bigger issue is believing that education is not a worthwhile investment.

      Some people have chosen to take on crippling debt to get degrees that are worthless in addition to going to schools that are overpriced. I feel that these people made poor decisions. There are many ways that that could have been avoided. Either by military service or working for companies that will help fund your degree. I paid my loans as I worked.

      The poor choice always moves the issue back to the individual and basically washes responsibility from the government and universities.

      Sorry for going off topic I will get off my soapbox now...

      6 votes
    2. [2]
      demifiend
      Link Parent
      I'm leaning toward exploitation. Why can't the producers just buy a shitload of debt for pennies on the dollar, cancel it, and issue a press release afterward?

      I'm leaning toward exploitation. Why can't the producers just buy a shitload of debt for pennies on the dollar, cancel it, and issue a press release afterward?

      2 votes
      1. [2]
        Comment deleted by author
        Link Parent
        1. demifiend
          Link Parent
          No, but it would free more people from indentured servitude.

          No, but it would free more people from indentured servitude.

          1 vote
    3. acr
      Link Parent
      I think the vast majority is aware of the cost, but people just lump it into - That's life. Gotta do what we gotta do and just push through it. An unacknowledged problem is how reputation matters...

      I think the vast majority is aware of the cost, but people just lump it into - That's life. Gotta do what we gotta do and just push through it.

      An unacknowledged problem is how reputation matters a lot when it comes to colleges.

      Say you have a school that has an actual degree in computer networking / security and a school that only offers CS. The CS school has a better reputation (seen as a better school by the public eye.), but doesn't go nearly as in depth in networking, security, and server side stuff as the networking / security program.

      Then you have one person from the CS school and one from the other school. They are both going out for the same junior network admin job. Most of the time the person from the school that is seen as better gets the job despite not having as much in field knowledge

      Also, a lot of majors force people to do four years undergrad in general study before they can get into a grad school that focusses specifically on what they want to do. A lot of programs could easily fit into 2 or 3 years, then let them apply to grad school.

      And the whole having to pass the GRE to get into grad school is kind of unfair because if a person is bad in one subject that prevents them from passing. It's garbage a person can do great all over the test except math and that cause them to not get into grad school into a program that has nothing to do with math.

      1 vote
  4. [2]
    SourceContribute
    Link
    where's the "late stage capitalism" tag? ;p

    where's the "late stage capitalism" tag? ;p

    2 votes
    1. nil-admirari
      Link Parent
      It sincerely messed with my head that it has come to this. Reading fairly broadly, the dystopian future many writers warned of is already here and deepening. I keep hoping it is all just a vivid...

      It sincerely messed with my head that it has come to this. Reading fairly broadly, the dystopian future many writers warned of is already here and deepening. I keep hoping it is all just a vivid bad dream I'm going to wake up from.

      3 votes
  5. semideclared
    Link
    I wonder what stagnate and lowering taxes would do. We need to better understand education costs, States have always been there to provide reduced cost of college. The single largest contributor...

    I wonder what stagnate and lowering taxes would do. We need to better understand education costs, States have always been there to provide reduced cost of college.
    The single largest contributor to above average college costs is the state government withdrawing promised funding Virginia introduced cost-sharing policy to determine appropriate tuition levels in 1976, 70/30 undergrad schools, 80/20 community college. Under this plan, E&G appropriations were based on the state providing 70%/80% of the cost of education. In 2004, the Higher Education Funding Policy changed to a goal of a 67%/33% cost-share relationship between the state and students
    The student share of the cost of education in FY2018 is estimated to be at 53% with the state contribution at 47%. The state of Virginia underfunded education cost in 2017 by over $600 million and forced tuition prices higher to make up for it. (1)

    In particular, individuals who either did not complete their degree or who attended a for-profit institution are disproportionately likely to fall behind on their student loan payments.(2) Having free education/Paying for a standard degree isn't necessary putting everyone in debt. An instate student can save approximately 30%, of tuition and fees for a baccalaureate degree by going to a community college for two years and then transferring to a public four-year institution for the remaining two years(1)

    (1) http://www.schev.edu/docs/default-source/Reports-and-Studies/2016-reports/2016-17tuitionandfeereport.pdf
    (2) https://www.federalreserve.gov/publications/2017-economic-well-being-of-us-households-in-2016-education-debt-loans.htm

    2 votes