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by John Rubino, DollarCollapse.com: To understand the how close many US universities are to catastrophic failure, let’s start with the story of Robert (not his real name, but all the rest is true). He’s 19, a freshman at a state university, a smart kid with eclectic interests but no sense of what he wants to be when he grows up. His favorite class, which he had to battle to get into, is an [...] Shelling out tens or even hundreds of thousands of dollars for higher education may no longer be the surefire path to a great career that it used to be. A recent report compiled by the education resource group OnlineColleges.net found that more than 300,000 Americans with either Master’s degrees or Ph.D.s were receiving food stamps in 2010 — and many more are likely on some form of government assistance today [...] From Bargaineering: Forget saving for higher education. Try paying for daycare first. According to Child Care Aware of America, a nonprofit dedicated to improving access to childcare, the average cost of care for a four year old is higher than the average cost of tuition and fees at a public college in 19 states and the District of Columbia. Here are five states where daycare is more expensive than college and advice on [...] by John Rubino, DollarCollapse.com:
Poverty – or its prospect – sometimes leads one to make surprising choices. Here’s a truly disturbing example, from London’s Independent:
Students and the sex industry: Empowering or the last resort of the debt-ridden?  A possible $1 trillion bailout is coming—and soon. America’s now-nationalized student loan industry just reached a value of $1 trillion, according to Citigroup, growing at a 20 percent-per-year pace. Since President Obama nationalized the industry (a tacked-on provision of the Obamacare bill), tuition has gone up 25 percent and the three-year default rate is at a record 13.4 percent. … Adding another $1 trillion dollars to the national debt isn’t exactly “forgiveness” for [...] from Zero Hedge: Student debt has seemingly been the transmission channel of choice for pumping credit into the US economy for the last few years as the government addition of $1 trillion has done nothing butleave those under-55 with fewer and fewer jobs (especially above-minimum-wage jobs) while saddled with non-extinguishable debt. Of course, this ‘pump’ of credit has had the usual unintended ‘inflationary’ consequence of raising tuition prices (which as we noted this morning was the main [...] “The study highlights that higher education expenditure has contracted by 13 percent since 1980, whereas spending on California’s prisons and associated correctional programs has skyrocketed by 436 percent. “ http://edition.presstv.ir/TextOnly/detail.aspx?id=260349 We previously observed that the US Treasury, under advisement of TBAC Chairman Matt Zames, who currently runs JPM’s CIO group in the aftermath of the London #FailWhale and who will become the next JPM CEO after Jamie Dimon decides he has had enough of competing with the Fed over just who it is that run the US capital markets, would soon commence issuing Floating Rate bonds (here andhere) as well as [...] The United States leads the world in the rate of incarcerating its own citizens. We imprison more of our own people than any other country on earth, including China which has four times our population, or in human history. And now, a new Pew report announces that we are keeping even nonviolent inmates behind bars for increasingly longer terms. This comes at a time when soaring costs of prisons are wreaking [...] Many who rail against the costs of higher education and the massive debts that most graduates carry point out that this drives graduates toward high-paying but potentially socially irresponsible jobs, like investment banking or private equity or a hedge fund, or really anything that pays well in this day and age, but is probably slowly gutting our economy. And jobs like this are in New York, San Francisco and Boston and [...] Students are being targeted by a ‘legal loan shark’ offering cash at an astonishing 4,214 per cent annual rate of interest. Wonga.com is marketing its exorbitant scheme as an alternative to Government-backed student loans – which attract interest rates of just 1.5 per cent. Charities warn the payday loan company is ‘moving in for the kill’ following the Coalition’s shake-up of higher education which will see fees rise to as high as [...] How the young are being screwed by the old. In Europe and in Ameica. Europe’s Screwed Generation and America’s (June 4, 2012) And… “This demographic implosion makes sense given the legacy left behind by the boomers, who have held on to generous jobs and benefits but left little opportunity for their children, [...] via Forbes: In 2009 I was invited to speak to the annual meeting of a mid-sized accounting firm in Florida. Of course, the big topic of conversation was the housing bubble and the financial crisis which resulted. The audience, with the exception of one liberal academic, was generally sympathetic to the message that government, not the market, was the principle malefactor. And since the audience was made up of working accountants [...] by Michael Don’t you wish that someone had told you the truth before you went to college? Don’t you wish that someone had told you that college has become a giant money making scam that is designed to drain as much money out of students and parents as possible? Yes, college can be a profitable endeavor if you pick your field of study wisely, if you can get someone else to [...] As a student who is currently attending a university, I would like to give my thoughts and opinions on this issue. I believe that many students currently receiving post-secondary education should not be receiving this education for various reasons. Throughout the school year I often hear people talking about their grades, where they believe that they can just party and be fine after graduation as long as they recieve a 2.5 [...] By Jennifer Mishory, Rory O’Sullivan, Tobin Van Ostern Download this brief (pdf) Read this brief in your web browser (Scribd) More than 7 million students and their families rely on Subsidized Stafford Loans to help pay for college. The loans distributed by the U.S. Department of Education currently hold an interest rate of 3.4 percent. But that rate is set to double if Congress fails to act by July 1, 2012. If that occurs, millions of [...] It is not just American brutality in handling education loans. Brutal are also our numerous wars and our prison system. Our incarceration of our own citizens is unmatched anywhere in the world. Brutality is usually the face of Fascism: “in 1980, there were about two hundred and twenty people incarcerated for every hundred thousand Americans; by 2010, the number had more than tripled, to seven hundred and thirty-one. No other country [...] Zakaria: Incarceration nation Editor’s Note: Tune in this Sunday at 10am or 1pm EST for Fareed Zakaria GPS. By Fareed Zakaria, CNN Something caught my eye the other day: Pat Robertson, the high priest of the religious right, had some startling things to say about drugs. “I really believe we should treat marijuana the way we treat beverage alcohol,” Mr. Robertson said in a recent interview. “I’ve never used marijuana and I don’t intend to, but [...] From SHTFplan: Like the housing bubble, which was predicated on easy money and rising prices, student loan lending has increased to unprecedented levels over the last decade. There is some $1 trillion in outstanding student loan debt in the United States, the majority of it borrowed by individuals who were sold on the idea that they could go to college, party with their buddies at fraternity and sorority houses for four years, [...] by Emily Co As a student, you need all the tax breaks you can get. After all, the sky-high prices of textbooks and the expensive tuition fees can really hurt the wallet. Kathy Pickering, the executive director of The Tax Institute at H&R Block who previously shared tax tips for the unemployed, explains which tax benefits higher-education students qualify for. American Opportunity Credit: Allows eligible taxpayers to claim up to $2,500 for each of the first [...] by Tim Parker There’s no doubt that we’re all still a little sensitive when it comes to the economy. Although it’s been nearly four years since the start of, what we now call, The Great Recession, the world still hasn’t let down its guard. The new warning making its way through the financial media is the rising student loan burden. Some believe that this could bring down the economy in much the same way as the [...] http://opinionator.blogs.nytimes.com…o-innovate/?hp INNOVATION, OBAMA ADMINISTRATION, VOLUNTEERS AND COMMUNITY SERVICE “A good government implies two [...] (CBS4) MIAMI (CBS4) – People who are looking for the perfect match, both men and women, go online seeking a certain kind of arrangement. A “sugar baby” is typically younger and eager for adventure. A “sugar daddy” is usually an older, financially established provider. A website called www.seekingarrangement.com helps the two meet. CBS4?s Jorge Estevez found a 22-year old who is looking for her first sugar daddy. She is a Miami student looking for someone to help her [...] From Carpe Diem: … “MIT has invented or improved many world-changing things — radar, information theory, and synthetic self-replicating molecules, to name a few. Last month, the university announced, to mild fanfare, an invention that could be similarly transformative, this time for higher education itself. It’s called MITx. In that small lowercase letter, a great deal is contained. MITx is the next big step in the open-educational-resources movement that MIT helped start [...] By DAVE SMITH: Subscribe to Dave’s RSS feed January 19, 2012 10:45 AM EST At the Guggenheim Museum in New York Thursday, Apple announced it would update its iBooks platform to include textbook capabilities, such as indexing and highlighting text. It also added a new platform called iBooks Author, which lets anyone easily create and publish their own e-books. Apple’s late co-founder and chairman Steve Jobs had hoped to bring relief to the higher education masses in the late [...] Colleges pay presidents millions while raising tuition
NEW YORK (CNNMoney) — Some private colleges are paying their top executives millions of dollars, at the same time they’re hiking tuition prices for students.
Vanderbilt University paid its chancellor, Nicholas Zeppos, $1.9 million in 2009, according to the school’s most recent tax filings — enough for up to 43 students to attend Vanderbilt at current prices. [...] From Carpe Diem: … “This is a simple case of inflation: When you artificially pump up the supply of something (whether it’s currency or diplomas), the value drops. The reason why a bachelor’s degree on its own no longer conveys intelligence and capability is that the government decided that as many people as possible should have bachelor’s degrees. There’s something of a pattern here. The government decides to try to increase the [...] #1. I’m sure if you added up all the student loan debt that has been borrowed and then add up all the student loan debt that has been paid back i’m almost certain the amount paid back exceeds the original amount loaned out. So therefore they have made their profit. It would be interesting to see how much exactly they have made. #2. I’m sure you have heard the term buyer [...] |
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