Current Events > Yooo how the fuck do people rack up 6 figure student loan debt LMAO

(+) Yeah! (+)

https://twitter.com/roodawakenning/status/1131196193151885312

https://twitter.com/QasimRashid/status/1131190954017402880

holy shit
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They finish school in a high-level field.

Generally those who get graduate degrees or get out of state tuition.
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Law school is expensive af
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You can still be looking at 100k from a local university if you didnt get merit aid

The big question is how they sat and let their debt double
Something somewhere is fucked
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Wild how people see stuff like this and blame the individuals instead of the dysfunctional system

Instead of making prudent financial decisions, they take out student loans like it's someone else's money.

*insert pikachu shocked face when they realize what a mistake they've made
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Malfunction posted...

Wild how people see stuff like this and blame the individuals instead of the dysfunctional system

its a lil of both, the student did sign the fucked agreement...
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They pick schools they can't afford, and don't work while in school because they need to "focus on their studies. " Meanwhile, they'll spend hundreds a month partying.
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Ivy League, private schools, private loan interest, grad school (especially medical school), and out of state tuition for places like UCLA
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Makes me so glad I get the GI Bill to cover tuition, and the Hazelwood Act once that runs out.
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Usually because of laziness. Students spending their free time drinking and placing a high amount of emphasis on tailgating and smoking drugs rather than getting a job to pay their way through college.

step 1: enroll in a degree program that costs in the 6 figures

Squall28 posted...

They pick schools they can't afford, and don't work while in school because they need to "focus on their studies. " Meanwhile, they'll spend hundreds a month partying.

You don't even have to party. The annual tuition of some of these private schools/ivy league (-esque) institutions was upwards of 40k even ten years ago. And that number has only risen.

You can easily rack up debt in the hundreds of thousands, even through scholarships and financial aid. You could cut that number in half with scholarships and regular payments, and still graduate with a bill approaching 80~100K.

Fam_Fam posted...

step 1: enroll in a degree program that costs in the 6 figures

Yup. And let's not even talk about graduate programs.
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Malfunction posted...

Wild how people see stuff like this and blame the individuals instead of the dysfunctional system

No one forced them to make bad decisions. And cut the "only" 18 bullshit. 18 is adult.
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byron posted...

Squall28 posted...

They pick schools they can't afford, and don't work while in school because they need to "focus on their studies. " Meanwhile, they'll spend hundreds a month partying.

Where do they get hundreds per month to party if they don't have a job?

Credit cards
More debt
Ask relatives for money (funny thing, I heard my roommate bugging his grandma for money and mofo goes clubbing every weekend)
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byron posted...

BuckVanHammer posted...

Malfunction posted...

Wild how people see stuff like this and blame the individuals instead of the dysfunctional system

its a lil of both, the student did sign the fucked agreement...

Yeah they were probably 17 or 18 years old and knew nothing other than you need to go to college

I feel like their parents failed them then for letting them do that. Somewhere during the college application process that should have come up that borrowing 100k from someone else is probably going to have long term financial consequences. College doesn't have to cost 100k, and there are other options as far as paying for it goes. Parents need to let their kids know taking out ginormous loans isn't something you just do without careful consideration.
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Med school

Let me link you my garbage med school that I went to.

https://www.nyit.edu/medicine/tuition_fees
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i was talking to someone at a party a few weeks ago that was telling me how he had 100k of debt from a state school lol.

tuition is like 16k/yr, then 10k/yr for the dorm/meal plan/etc. times that by 4 and you can easily rack up 6 figures debt by the time you graduate
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megamanfreakXD posted...

Med school

Let me link you my garbage med school that I went to.

https://www.nyit.edu/medicine/tuition_fees

https://imgur.com/u6ylabE
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When you have it hammered into your head that "You need to go to college to get a good degree so you can get money!" at a young age, while also being told to "not worry" about how much you borrow because "You'll make it back in no time", then yeah you're going to have people who just barely became an adult making poor financial decisions.

What's that? Trade schools? They never even mention that when I was in high school.

Finances? "tHaT sHoUlD bE tHe PaReNtS jOb".
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Squall28 posted...

They pick schools they can't afford, and don't work while in school because they need to "focus on their studies. " Meanwhile, they'll spend hundreds a month partying.

Doesnt cost hundreds a month to party.

Aa someone who partied in his elite engineering school with 40k in student loans (all paid off)

Umbreon posted...

When you have it hammered into your head that "You need to go to college to get a good degree so you can get money!" at a young age, while also being told to "not worry" about how much you borrow because "You'll make it back in no time", then yeah you're going to have people who just barely became an adult making poor financial decisions.

What's that? Trade schools? They never even mention that when I was in high school.

Finances? "tHaT sHoUlD bE tHe PaReNtS jOb".

Yep, the high school counselors who push this narrative should be taken out back and shot in their corrupt faces.
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pogo_rabid posted...

Umbreon posted...

When you have it hammered into your head that "You need to go to college to get a good degree so you can get money!" at a young age, while also being told to "not worry" about how much you borrow because "You'll make it back in no time", then yeah you're going to have people who just barely became an adult making poor financial decisions.

What's that? Trade schools? They never even mention that when I was in high school.

Finances? "tHaT sHoUlD bE tHe PaReNtS jOb".

Yep, the high school counselors who push this narrative should be taken out back and shot in their corrupt faces.

Corrupt? How are they corrupt? You think the underpaid counselors are getting kick backs jfc

persons not wrong
our system is corrupt and disgusting and creates debt slavery
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CruelBuffalo posted...

pogo_rabid posted...

Umbreon posted...

When you have it hammered into your head that "You need to go to college to get a good degree so you can get money!" at a young age, while also being told to "not worry" about how much you borrow because "You'll make it back in no time", then yeah you're going to have people who just barely became an adult making poor financial decisions.

What's that? Trade schools? They never even mention that when I was in high school.

Finances? "tHaT sHoUlD bE tHe PaReNtS jOb".

Yep, the high school counselors who push this narrative should be taken out back and shot in their corrupt faces.

Corrupt? How are they corrupt? You think the underpaid counselors are getting kick backs jfc

You're right. If colleges won't pay their student athletes who are destroying their bodies, they'd be too cheap to pay off a potential revenue source.
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CruelBuffalo posted...

Squall28 posted...

They pick schools they can't afford, and don't work while in school because they need to "focus on their studies. " Meanwhile, they'll spend hundreds a month partying.

Doesnt cost hundreds a month to party.

Aa someone who partied in his elite engineering school with 40k in student loans (all paid off)

There's obviously different degrees of partying and spending involved.
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https://pbs.twimg.com/media/D7KyL7jWkAAHI2U.jpg
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megamanfreakXD posted...

Med school

Let me link you my garbage med school that I went to.

https://www.nyit.edu/medicine/tuition_fees

Is that yearly or per semester?

Two_Dee posted...

https://pbs.twimg.com/media/D7KyL7jWkAAHI2U.jpg

Did you actually create this topic so you could post this?

I'm flattered that you think you need to do this I guess, but I have larger much more obvious questions. For starters, are you okay?
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Squall28 posted...

Malfunction posted...

Wild how people see stuff like this and blame the individuals instead of the dysfunctional system

No one forced them to make bad decisions. And cut the "only" 18 bullshit. 18 is adult.

Would you let an 18 year old handle your finances?
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I think you become an independent student according to the government at 24 or 25

Most people shouldn't go to college until then.
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hollow_shrine posted...

For starters, are you okay?

no i cant find a job
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Squall28 posted...

Malfunction posted...

Wild how people see stuff like this and blame the individuals instead of the dysfunctional system

No one forced them to make bad decisions. And cut the "only" 18 bullshit. 18 is adult.

Then why can't they buy alcohol?

byron posted...

Out of state school, private school, law school, med school

This, plus taking more in loans in order to pay for living expenses, instead of getting a job. I could never imagine racking up that kind of debt for school

In regards to that recent story about the billionaire paying off the school loans for the class of 2019 at Morehouse college, he is literally going to be paying 40 million for ~400 students.

That's on average about $100k per student
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Conflict posted...

Damn_Underscore posted...

I think you become an independent student according to the government at 24 or 25

Most people shouldn't go to college until then.

And what should they do? Work a shitty job at their old folks' place for the time being?

I joined the military, but that's definitely not for everyone. Hell, it wasn't for me and I did it for 9 years.

I think giving people time to figure out what they actually want to do before going to a major university is important. If I ever have a kid that wants to go to college, I'm sending them to a good community college first to knock out most of their core curriculum stuff. No reason to go into debt before they even know if college is for them or not.
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Tryhaptaward posted...

megamanfreakXD posted...

Med school

Let me link you my garbage med school that I went to.

https://www.nyit.edu/medicine/tuition_fees

Is that yearly or per semester?

yearly

Meanwhile at downstate, a reputable allopathic med school who cares about their students, cost 40K/year

https://sls.downstate.edu/bursar/tuition_fees.html
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I did indeed party instead of keeping my scholarship, which is a huge regret of mine
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Antifar posted...

Squall28 posted...

Malfunction posted...

Wild how people see stuff like this and blame the individuals instead of the dysfunctional system

No one forced them to make bad decisions. And cut the "only" 18 bullshit. 18 is adult.

Would you let an 18 year old handle your finances?

I won't let anyone handle my finances, but myself. I handled my finances since I was a teen.

And lol at people saying you can't spend hundreds partying. You easily can drop that much in one weekend on a night out. And let's not forget all the trips people take.

I won't call it partying. "Drinking festivities" happy?
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Conflict posted...

Damn_Underscore posted...

I think you become an independent student according to the government at 24 or 25

Most people shouldn't go to college until then.

And what should they do? Work a shitty job at their old folks' place for the time being?

Maybe not for their parents, but yes a job sounds like a great idea. Working really does build character, and there can be dignity in it. Thing is, I wouldn't want to throw kids to that now, since most of the jobs like this available to young twenty-somethings seem more than a little predatory.

Volunteering for a cause seems good though, or being an admin assistant for a local office both seem like they'd teach young adults some useful things about the world and may also give their educational careers a place to start from, instead of the floundering a lot of us do for the first three semesters before locking down a major.
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codey posted...

If I ever have a kid that wants to go to college, I'm sending them to a good community college first to knock out most of their core curriculum stuff

I'd do the same, unless they were able to get a lot of scholarships or a full ride somewhere. Certainly helps that one of the community colleges where I live is considered to be one of the best in the country IIRC, and it's super cheap.
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I can't help but feel like a big portion of those costs are living expenses also. Like, for room and board and shit
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Squall28 posted...

Antifar posted...

Squall28 posted...

Malfunction posted...

Wild how people see stuff like this and blame the individuals instead of the dysfunctional system

No one forced them to make bad decisions. And cut the "only" 18 bullshit. 18 is adult.

Would you let an 18 year old handle your finances?

I won't let anyone handle my finances, but myself. I handled my finances since I was a teen.

And lol at people saying you can't spend hundreds partying. You easily can drop that much in one weekend on a night out. And let's not forget all the trips people take.

I won't call it partying. "Drinking festivities" happy?

This might shock you, but there is a large amount of student who go to college and dont drink AND still dont have money.
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Squall28 posted...

They pick schools they can't afford, and don't work while in school because they need to "focus on their studies. " Meanwhile, they'll spend hundreds a month partying.

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