Earth to Academia: Student Loan Debt is Mounting - And It's Unethical.

The average student graduates with $23,000 in debt. "That's a lot of debt for a 22-year-old," says Michael Ellsberg - and when you combine it with astronomical rates of unemployment rates, you have a crisis on your hands.

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[ihurskin]

The bigger problem is that you need a good degree to get a job in this economy. A lot of people assess the risk and understand what they're getting themselves into to some extent, but choose to go ahead and get the degree because today it's near impossible to get a job that pays comfortably without a degree. Countries higher developed then USA have free higher education payed for by the government, the people are a worthwhile investment.

[RWW124]

@490310001 You da man! oh, how I love the voice of reason.

[490310001]

@donluchitti all of those are either terrible ideas or incorrect statements. the government didn't encourage companies going overseas. they forced them out by increasing corporate tax. if you want jobs back in america then decrease the corporate tax and get rid of tax subsidies. in the meantime, if you want a job then increase your skill set and turn yourself into the best in your field. dont expect a job just because you attended university.

[490310001]

wow, I'm really glad there's a video like this out there. to really explain how pathetic the liberal mindset is and how easily it can turn itself into a victim. students know when they go to college it will be expensive, and students know what they're getting into when they sign up for student loans. if you want to be able to pay off your 23,000 in debt then maybe you shouldn't spend 4 years earning an art degree that will get you nowhere. And maybe party a little less and focus more on homework

[yoyoyoy500]

mentality & am now paying dearly 4 it.It's herd mentality that ppl 2 easily give in without true luv 4 bio & chem sci's & an oh so immature naiveness.Biotechnician student at a community college hoping 2 switch out soon.I find the subjects stimulating & moderately easy but at the end of day the only thing that matters work wise is yur profiencency at lab techniques.PLZ dont enter that field 4 money.A lot of stuff in that involves ppl's health @ stake whether in food or pharmacuetical making.

[yoyoyoy500]

2:11 "To not talk about those risks borders on fraud". :) DARN RIGHT!

One thing I'd like 2 point out 4 anyone going 4 sciences:for u value your marks DO EVERYTHING u can 2 find out about the labs,lab environment & how their like in the work world.WAAAYY 2 often I hear kids say "Oh I'm going into life sci so I can be doctor".It's like they have no flipping idea bout how life sci labs r like & how 4 the most pt. there the *only* work enviroment 4 those degree types out there.I gave in2 that kind

[rossplendent]

And if they do divulge that information, fewer people will opt to partake in higher education, and the job market for those who have degrees will open up, while the uneducated will have even more trouble, due to more competition for lower paying jobs.

Additionally, the universities will not generate enough revenue to cover their costs, and will have to either raise tuition, which will only exacerbate the issue, or cut back on production.

[barber0611]

it's a lot of debt for a 56 year old too!....looks like my husband will be paying his student loan out of his social security....

[leeknivek]

@jonmichaeljordan Value is subjective and therefore using it to represent someone's work is also subjective. So, there's really no way to get an objectively right amount of money to be paid for any one task.

College tuition is high, from what I understand, because of government interference. Government subsidizes college loans and grants so the colleges have an incentive to raise prices and get more money from it.

Students don't HAVE to get loans and go into debt, too, you know.

[jonmichaeljordan]

@leeknivek Two wrongs don't make a right. Lots of these schools squeeze in extra students into classrooms, because all the overhead is paid and every student they get is an extra six figures full profit. They don't care to be honest about prospects. Money is a representation of work, and when we let these schools get away with "proof of work done" which they didn't do, then the economy takes a hit.