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Re:Nearly 5M Americans in Default on Student Loans by gbacon on Thursday December 14, 2017 @08:39AM (#15922126)
It’s similar in the U.S. people going six figures in debt for degrees that qualify them for $30k jobs is a problem, but that is a dirt-simple ROI analysis.

Forcing nearly everyone into the college-bound track is a huge problem. Politically, vocational training is deemed classist or racist, and such utopianism creates a sad disservice to lots of young people who could be learning skilled trades and setting themselves up for comfortable living.

Just like everyone at the university level is not med-school material, not every high schooler is college material.

Re:Nearly 5M Americans in Default on Student Loans by oliwarner on Thursday December 14, 2017 @11:07AM (#15923336)
Six figures?! I'm sure some people manage to clock that up, but the 2015 average[1] was $30,100 at graduation.

Edit: Don't get me wrong, that's still a huge pile of money for a worthless degree, or something you should have learned "on the job"... But it's a long way off $100k+

[1] https://ticas.org/posd/map-state-data

Re:Nearly 5M Americans in Default on Student Loans by toomuchtodo on Thursday December 14, 2017 @10:20AM (#15922900)
It sounds like a partial solution to this is an infographic that must be provided by each college before allowing loans to be taken out showing:

* The degrees you're interested in

* The total cost of ownership of each of those degrees, based on the dollar cost + interest

* The years you'll have to work to pay off the degree based on the median salary of whatever career requires that degree

* Placement rate in the career you're obtaining you're degree for after obtaining your education (colleges usually fudge the numbers here by considering a student getting any job as "placement" after going through their pipeline)

Very similar to truth in lending requirements for credit cards and mortgages.

https://www.occ.treas.gov/topics/consumer-protection/truth-i...

https://en.wikipedia.org/wiki/Truth_in_Lending_Act

Re:Nearly 5M Americans in Default on Student Loans by mechhrt on Thursday December 14, 2017 @10:37AM (#15923066)
You can't expect the college to give you a realistic prospect when they are the ones who stand to (non-) profit from your matriculation.

At the very least, they will give you a best-case scenario instead of a worst-case or median-case.

Re:Nearly 5M Americans in Default on Student Loans by toomuchtodo on Thursday December 14, 2017 @10:59AM (#15923265)
That's why you use the law to do it, like we do with credit card and mortgage products.
Re:Nearly 5M Americans in Default on Student Loans by JoeAltmaier on Thursday December 14, 2017 @08:40AM (#15922137)
Sadly, in the US, we don't teach ROI. That comes in your 2nd year of college. Its a trap!