College Debt Reaches 1 Trillion

According to the Federal Reserve Bank of New York, Americans owe more than a trillion dollars in student loans. It's a staggering figure, considering that the US Census Bureau reported in 2010 that the combined credit card debt for this country is only 886 billion dollars, so student loans take the top category as the source of the most debt for the average American. We'll take a look at how we got here.

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[crumcon]

How about:

buy cheaper laptop instead of Apple´s Macbook?

buy cheaper contract + decent phone instead of Apple´s Iphone?

How about bringing your bread from home, instead of buying food outside?

How about stop fukin buying coffee at starbucks every morning?

Dont party every weekend.

If possible, live with your parents as long as possible

and now, how about revolt and make OWS bigger!!!! cause you got nailed in the butt son!!!!!!!!11

[WisdomThroughLogic]

@alphacause college is expensive because the government guarantees the loan. If no one was able to borrow to go to college...then tuition would have to fall to an average income.

[WisdomThroughLogic]

@FocusFalcon2 Well...i do pack an Iphone because I do programming, and develop for it. But I know what you mean. I understand about the math part as well....I work with people who can't even divide correctly.

[FocusFalcon2]

@WisdomThroughLogic I agree with everything Celente says except college students are going to somehow change the system. college students are fucking stupid and it is that simple. when these iPod packing monkeys take over I'm telling you we are fucked. they can't even do grocery store math, I've seen it for myself. I can't believe people think a generation more concerned over michael jackson's death than getting a real job will change anything

[FocusFalcon2]

@WisdomThroughLogic thank you. This is why I get pissed off at the psychology/sociology double majors partying every night and not caring because they have their family safety net back home for when then can only wait on tables. i am in wood products manufacturing and this summer I go to training for a job that will set me up with a starting salary of 60-70k depending on where the company places me

[WisdomThroughLogic]

@FocusFalcon2 pt.2 I am surprised too see that degrees in worthlessness being touted as, accredited, and useful. Degrees like these do not belong in our school system and is borderline fraud. I have a passing awareness of ron paul...but I prefer the likes of Peter schiff, and gerald celente.

[WisdomThroughLogic]

@FocusFalcon2 I agree with the worthless part. The problem is people think they can get a job with a degree in something like: feminist literature and theory, or liberal arts. And then they get out of school and complain that their "junk" degrees aren't worth anything. This makes it totally unfair to those of us that want a degree in a working proven Field like, Medicine, engineering, architecture, computer science,or biology ETC.

[FocusFalcon2]

@WisdomThroughLogic my apologies, i think we are thinking the same thing but are just wording it different causing confusion. the government shouldn't be involved with student loans. what is wrong with education is people aren't learning anything, it is all to produce mindless obedient workers too stupid to realize either they can't get a job with their degrees or the jobs they end up with suck. we shouldn't have to pay so someone else to get an education that is worthless

[WisdomThroughLogic]

@FocusFalcon2 naw...I took a trip to europe, and saw how their education was billed to the population. Look at the swis, germany, sweden. etc. There are TONS of examples with college being affordable for the general populace. the USA is doing something with education WRONG. Fox news isn't my cup of tea.

[FocusFalcon2]

@WisdomThroughLogic I assume you forgot to throw in a "RON PAUL 2012." schools are nothing more than corportations and treat students accordingly. I am in college. i see this shit every day. schools dont give a damn about education, it is all money. You obviously have it all figured out from watching FOX News

[actracts]

@actracts The fall of the US economy will not even scratch the 1% and they do not fear mobs. If I'm prepare for small scale assault on my house and my life - I'm certain the wealthy is more then ready to handle themselves. The collapse of the economy will not vindicate anyone but the 1% who had allowed themselves to be demonized by the public, knowing that the public at large will suffer once these 1% pull out of the country's markets.

[actracts]

@actracts . It's hilarious how stupid these supposed 'educated' individuals are - do they actually think the BoA owners actually have their money saved in a BoA account?! If I, a lower middle class individual, have the foresight to invest my savings in the form of precious metal and have that precious metal store safely where only I can have excess and at any given point convert them into a cash currency, what the fuck do you think the 1% has already prepared for?