More Than a Dozen Colleges Are Quietly Crossing the $100,000 Mark This Year
2 days ago by return2ozma to c/aboringdystopia
I know Boomers in the US who graduated from med school with $1500 in 'debt'.
This is why US politics are the way they are, the weathy 1% get educated, the rest would rather watch their own children die of preventable diseases because they have been educated by Rupert Murdoch or Mark Zuckerberg or Elon Musk.
I graduated in 2009, and my loan balances have only ever gone up, even after consistent payments this whole time (excluding the COVID pause). Thanks to this hypocritical Supreme Court that struck down student loan forgiveness because it was initiated by a Dem, my monthly payments for my federal loans went from around $100 to nearly $600. $600 is the bare minimum I’m allowed to pay now, and even after making those payments for the next 20 years my balance is still only expected to go up.
I’m just throwing my money away as my debt continues to increase, but I can’t stop making payments because it would ruin my credit, which I would need if I could ever afford a mortgage, which I’ll never be able afford because all my earnings go to rent, student loans, and food.
It’s all a scam to keep us poor. If you’re thinking about going to college, you should think equally hard about not going.
Stop paying off the student loans. You are wrecking your QoL for a hope at a house you'll never actually be able to buy. They'll ding your credit every so often but you get to actually live life. It's worth it.
I don’t know, I struggle with this advice. On the one hand, in the grand scheme of things you’re probably right. On the other hand, I have a hard time knee-capping my future self with bad credit, which would seriously limit my ability to get any kind of loan. That’s kind of what my pre-college self did by saddling myself with all this debt. It wouldn’t be small dings, it would completely wreck my credit.
That's just tuition, not including residence.
When Trump killed the NIH, he killed billions in research overheads to universities which went into the operating costs of teaching STEM. So they need to make up the shortfall. The net result is no one will pursue science as a career, because they could never afford the debt. Duke was always an institution of stupid rich kids, but now even medicine is not worth it. So our best will be working in finance figuring out how to steal from pension plans.
The system filled in the gap with PhD post docs from abroad on H1s, but Trump killed that as well. The net result is US colleges will tumble from world research rankings as investigators leave and labs atrophy and die. This means no new biotechs, no new drugs, and eventually the death of US Pharma. Make no mistake, the government in the US is both anti science and anti intellectual.
Here's the irony already: a Cuban research institute has developed NeuralCIM, a successful treatment for dementia. Effects in trials far exceed Leqembi without the danger of brain bleeds. But the US government would rather let their own brains rot than allow the drug to be sold in the US. US Tourists are flying to Havana for the drug, and they are being charged a whopping $25 for 10 doses. The future of STEM is in anywhere but the US.
100%. Heck I am stem and moved to IT in the 90's. Calling it stem is kinda funny because its been more tem or te or just T for the last two decades. As you point out even becoming a doctor is becoming not worth it. Obvisouly the people going into it see it worth it outside of compensation but you don't get compensated for over a decade before you do and it can't catch up to the loss.
when students started coming out with six figure debt I was saying how for me it was a car. a nice car. a luxury car really. but now its a mortgage. not really because of how insane housing prices have gone but if housing prices were sane then college debt would be a mortgage. Was talking with my brother who is only 5 years older than me and his debt was like a normal car and another brother who is about 5 years older than that or so had debt you could pay off with a good summer job. Now that older brother is a boomer but just barely. We talk about boomers and sometimes silent generation and Xers and millenials and Z but even a few years makes a difference. An early boomer had it much better than a mid who had it better than a late and the pattern continues right up to current bulltrump times. You get people saying things are not worse now that things have been much worse but we have been falling for a long time. Things are definatively worse now. You can't just be willing to work to have afford a room and board and other essentials. compensation is so much lower than costs its absolutely insane today. you have people working gig jobs and cannobolizing their car where they will not be able to afford replacing it when it dies from overuse. At every level we are getting by by cannibalizing the future. We are hollowing out the core. We are the snake eating its finite tail.
quietly
Yeah as if $100,000 wasn't an arbitrary amount.
Alternative title:
More Than a Dozen Colleges Are Quietly Crossing the CA$138,182.50 Mark This Year
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As a European, this notion of college debt is so alien to me. I can't imagine walking out of school as a young person starting life with a six figure debt!
Even without government grants, if I had been a foreign student say, my masters degree would have only been €5,000.
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