Report sounds alarm on growing numbers of college students taking out loans



I’ve said it many times: money you have to pay back should not be called financial aid.

Student loans are not financial aid.


The biggest problem is that the loans are guaranteed fully by the government. So lenders could care less whether any particular loan is prudent. Borrowing for education can be a good investment, but you have to be careful, not overextend yourself and choose the right field.


Fully agree!


Fully agree with your conclusion.




That is the big lie in higher education. You will hear college administrators say things like “85% of our students receive financial aid”. Then they send you a form that tells you how to get a loan for $5000. Gee thanks.


What is really sad is that most of these loans will take years to pay off because the majority of jobs any one can manage to get do not pay that much. Students need to really understand that these loans can take 30 years to pay off for most of us.

I would rather go part-time and pay as I go. I think tuition has gotten out of control in this country. With all the employers who now say that a degree is required, even for a job most could do with a 6th grade education, I think employers need to start footing the bill like they used too. That would change things up again, because most of those jobs require nothing more than a high school education despite arguments to the contrary.

We have managed to turn all education into a money making venture instead of a learning opportunity for all. That is sad and destructive to the welfare of any country.


Back in 2002 when I went to college for computer networking I had to take out a student loan. It was one of them government funded loans. Well, I ended up failing a class and so I lost my financial aid. I was unwilling to take out another loan so I dropped out of school. I then ended up disabled shortly after that and was pretty much unable to work more than a month at a time. I ended up trying to file for disability which I eventually got. While I was waiting for my disability to be approved I did not work so my Grandma paid off my loan over the course of a couple of years. My loan was for $2000. I am so grateful my Grandma paid it off for me. I could never repay her since she is now dead. So I do the best thing I can do, pray for the repose of her soul and have Mass offered for her.




What does tuition cost a year for a student in a private or public college/University?


Completely depends on a litany of factors. I’ve seen $4k/year private tuition, I’ve seen 65k/year tuition both private and public.


One really wonders about all of this cost and the loans necessary to pay them for most.

When I attended graduate school, it made do in a building that contained a specialized library, classrooms and restrooms. The building was pretty old, and was undoubtedly paid for decades ago. A few years after I graduated, the school built an enormously expensive new building for the same purpose. Millions and millions of dollars. The number of students increased somewhat, but not by all that much. Of course, it had all sorts of amenities we did not have. Broader halls, better lounges, more decor; that sort of thing.

To my utter astonishment, then, a couple of decades later, they decided on yet a new building for the very same graduate school; this time massively more expensive than the last one, with even more amazing (but functionless) architectural features, amenities, landscaping, fountains, all sorts of stuff.

And yet, the basic essentials have never changed; a library, classrooms, restrooms. Well, it has to be admitted that there are now better computers for research. But really, that likely was a net cost saving.

And, of course, the tuition has increased hugely; greatly beyond the ability of almost anybody other than very well-to-do people with one or two kids to pay on schedule.

The dolling-up of campuses has proceeded very expensively over the last few decades, and of course, high administrators and tenured profs are paid very well. As near as I can tell there is no net improvement in education quality.


This obviously won’t help you now but it is possible to have a federal student loan discharged due to total disability. Just an FYI for anybody else reading that is in a similar situation.

Your prayers are worth way more than a student loan so it is literally the best thing you can do :slight_smile:


I had coffee with a university fund raiser recently, and I commented upon the drastic increase in yearly costs for attending the college now compared to when I was there. He talked about amenities and dormitories, (sorry, now it’s ‘residence halls.’) He mentioned that students no longer want to live in an old style dorm with few amenities. They want more upscale living quarters, better dining facilities, and an upscale atmosphere. The university’s story is that it takes more amenities to attract students now. I’m wondering though, if a lot of students might not trade a lot of that for cheaper costs and a good education.


I really think one of the fastest ways to change this problem and that of high tuition rates is for every single soul out there thinking of college to wait one year. Just shut down the system by making no demand for classes. And let it be known that when tuition goes down students will return.

They get away with the high prices because folks are so concerned about getting that degree to get a job. The sad thing is most never get that job the degree is supposed to open the door too. Shoot, why not try out some missionary work somewhere first? Especially you young folks. You might be surprised at what you learn and how your mind might change in terms of career goals. Just a thought.


One would think so. I remember when I was in college, I attended a Jesuit school that was very basic. Not far away was an opulent private school. Our parking lot was typically full of aging Fords, Dodges and Chevys. The others’ was full of Mercedes, BMWs and even the occasional Ferrarri here and there. Our school was a LOT cheaper, though far from free. Still, we were sort of perversely proud of the comparison. Of course, much has changed since then.

I have a granddaughter who attends the University of Dallas, and its campus is pretty bare bones, though its reputation is excellent. It isn’t inexpensive either, but it is pretty generous with REAL financial aid…the kind you don’t have to pay back.:wink:


Somewhere I read Chesterton suggest that the guild idea wasn’t such a bad system. :wink: You learn your trade from an early age, and are competent to go. (Certainly not perfect, but there are some points worth considering.)

The nature of education has changed because our understanding of the nature of man has changed. Frankly, and this is a simplification, I think we approach the human person like a machine.

It’s ridiculous. By the time I graduated, my college was doing things like installing luxurious lunch-rooms with plasma TVs. Tell me, why did tuition keep going up?


Student loans are the next bubble to burst in the economy. Too many people graduating with useless degrees, for jobs that pay $30k/year, with $200k in student loans. It’s a racket.

I had to use some student loans while in college, and I managed to get 3 undergrad degrees and an MBA with less student loans than what some students borrow in a single year.

And FYI, the reason tutition has skyrocketed it BECAUSE of the federal govt making student loans subsidized and so easy to get.


Depends on the judge. After the income based repayment started the Northern District of Iowa rulled that even with total disability student loans can’t be discharged because that program is available. So if anyone is contemplating trying to get out of loans here, it won’t happen.

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