By: Diane Benjamin
Yesterday I met a 24 year old very recent ISU grad. She is now $114,000 in debt and can’t find a job in her field. The friends she graduated with can’t find a job in their field either. She works a job that doesn’t require a college degree. She may never be able to work in her field, she is buried in debt for a useless degree.
Worse, at 24 years old, she has never known any federal government other than W Bush and Obama. She doesn’t know what a booming growing economy looks like. She knows nothing about pro-growth policies and limited government. She will most likely vote for a candidate who promises to abolish her debt.
Meanwhile, raising a family is out of the question. Buying a house is out of the question. Do you believe she won’t jump at any chance possible to be out of debt? She doesn’t understand that she may be out of debt, but somebody else will be forced to pay. The millions of others just like her don’t realize that voting for a bailout transfers their problem to the entire country.
Who is to blame?
- She is to blame for racking up that much debt.
- Her parents who allowed her to mortgage her future
- ISU financial aid for being very willing to help her get loans
- ISU for raising tuition every year because they can
- The State of Illinois for not promoting affordable education
- The State of Illinois for handing out lavish salaries and pensions
- The Federal government for making student debt easy
- The Federal government for the takeover of student loans to fund ObamaCare
- High interest rates to pay for ObamaCare
- Democrats for passing ObamaCare and then acting like the interest rates aren’t their fault
No, grants are not the answer. Colleges just raise rates when more grants are available.
Way too many kids attend college and get useless degrees because they are brainwashed into believing a degree is required. The winners in the next decade are going to be the ones NOT buried in debt.
It really IS possible to work your way through school. Don’t allow your kids to mortgage their future in college if they have no achievable goals.
The higher education bubble is going to burst. Millennials can either get crushed by it or find a way around it. Universities are going to be only for the rich unless government forces all taxpayers to subside a useless education. If they don’t institute reforms to decrease the cost, the bubble will burst on them too.
The new normal is:
- a mortgaged future with nothing to show for it
- socialized education
- or something entirely new
It is way past time for a new plan. Parents and teachers need to chart a new future involving technical schools and cheaper education. Companies need to provide training particular to their business.
Parents must protect their kids from government education. You sacrificed to raise your kids, now finish the job by explaining the facts.