>Millions of people are enrolled in college
>many of whom are on a student loan
>As is, the supply of degrees DRASTICALLY overshadows the demand for them
>Even the mighty STEM fields are a gamble. You're going in hoping the degree in demand today is still in demand four years from now
>the sheer amount of people holding degrees and those working toward them has surely done something to depreciate a college degree altogether
>nonetheless, people are still flocking to college en masse and signing up for loans, even though many graduates and undergraduates are struggling to find work.
/biz/, do you at all get the feeling we're sitting on ticking time bomb?
Hell yeah my man OP tell those idiots, i would of been graduating this year with a 4 year degree went to tech school now in trades its meh 50k a year at 21 is ok anywhere but here
>>1097447
what is the time bomb?
Student loans literally, figuratively and subjectively have to be repaid.
The fed owns almost all of them thru sallie
Thats why im learning a technical skill, once everyone working retires there will be a skilled labour shortage and i'll be there making fat stacks.
>>1097452
Eventually you will reach critical mass.
The cost of tuition increases about 7% each year.
More and more people are going to school and taking out higher and higher loans year after year.
Job demand for college degrees is stagnate at best.
Eventually they won't even be able to pay the interest on that debt with minimum wage jobs. You'll have massive waves of people defaulting on the debt.
This is when the student loan bubble pops.
>>1097452
Cant get blood out of a stone
>>1097462
Except the government doesn't let you absolve that debt, so you'll eventually have to pay it anyway.
It's not like real debt where you can declare bankruptcy
>>1097462
You can't default your student loan debt in USA. I just read an article about how they're now arresting people who aren't paying back their student loans.
>go to school for years to be employable
>go massively into debt
>get a record for not paying your debt, now unemployable
top kek
>>1097467
>Except the government doesn't let you absolve that debt, so you'll eventually have to pay it anyway.
and how do you expect them (the millions graduated, enrolled and those soon to be enrolled) to back that debt when they are struggling/failing to find work?
>>1097471
repeal nafta
>>1097462
>you cant default
>they will give you extensions if you call
now heres the long play
>free healthcare
>give moar extensions till like 90 years of age
TOO BIG 2 FAIL
>>1097471
My implication was that the debt, like any other debt, should be able to be cancelled through debt relief programs.
In some places, you can inherit certain student loans from family members.
I'm pretty sure inheriting debt is what caused indentured servitude to be a real problem rather than just a pain in the ass.
>>1097447
I went to college for free.
>>1097476
>that picture.
why. Well I know why, she thought it was a cute picture to take because she saw a bunch of bananas, but WHY? Cool I made a pun
>>1097481
because she eats 50 bananas a day broh
>>1097447
/biz/
we have been over this 100 times.
Yes it's a bubble
Yes it's a problem
No it is not a huge problem
Why is it not a huge problem?
The grand total of all the loans is not enough to drastically effect the economy and the debt is owned by the U.S government anyway
Eh. I'm sure they'll just siphon whatever money they need to pay back McJorb's sociology degree from my 401k.
>>1097447
if there is a problem it's that most high schools have dramatically eased up on their curriculum. Even IB is nothing compared to 10 years ago.
colleges don't give a shit and never did. if you wanted to have a good education, you went to a good school. if you go to a good school, they give you good resources and you're not going to have a hard time finding work. if you just want a "degree" which shows you maybe learned some basic things, you go wherever you want depending on what you can afford. and those spooky scary stories of "muh too much debt" are about fucking morons, not about the country's economy or workforce. you might as well be arguing about how much time people waste on lottery tickets and marijuana.
your biggest mistake is thinking that higher education is supposed to be an investment. most people go there knowing 100% that they are just learning shit, having fun, and meeting people. A lot of the time the connections will lead to jobs, but who are you kidding if you think young adults believe reading a book is how you train for a job? Nobody misses the fucking memo that you need work experience in parallel to studying, and if you're somebody who regrets ignoring that information, then fuck off actions have consequences. There might be a point where a handful of people stop getting the same bullshit loans, but that will last a few years at most until it goes on another roller coaster.
>>1097521
bingoooo
Most people rack up student loan debt to end up getting jobs they could have gotten when they were 18 with no education. They think University is like high school. All they gotta do is show up to class and get good grades. We have over 300 students in our Comp Sci class and less than 20 of those are in organizations or clubs. They join their mickey mouse club house party fraternities and think that is networking/joining an organization. They literally have no connects. They act like children and professors can't stand them. It's fucking unbearable.
>>1097565
I love you faggots who are always shilling your gay as fuck clubs. I have alot of friends who never joined one of your meme groups and they got interships in CS no problem.
Internships > clubs
No fucking employer cares that you sold cookies outside the rec center to raise money for your "hackathon" they care that you get real job experience.
>>1097447
>government plays discrimination law to let employers pay college grads more even if they do the same work
>government guarantees all kids a college loan
Whoa it's almost like the government made college compulsory for everyone who doesn't want to be limited to manual labour or customer service.
>>1097581
>No fucking employer cares that you sold cookies outside the rec center to raise money
LOOL fuckin rekt
god damn /biz/ makes me jej harder than anything
>>1097493
Then you've been wrong 100 times. Maybe when you read this post you won't be wrong 101 times.
The total dollar cost for student loans isn't the complete scope of the problem. The problem is too many of Tina from Long Island, major in liberal arts, focus on woman's studies, with 30k in student loan debt. She didn't just borrow money, she wasted 4+ years of her life partying, which is a steep opportunity cost. Her employability hasn't increased at all. She is now a Bernie Sanders supporter. She won't be able to save for retirement until she is over 35. We can handle a few Tinas, but we have hundreds of thousands of Tinas. Tinas with no savings, no pension, who at best can work at the service industry, and who vote socialist.
OP should be shot for his idiocy
>>1097471
Slavery & inherited slavery in fema camps
>>1097600
>people make retardedly bad life decisions
what a revelation
What's to stop me from saying my kids are minoritys to get them all those free college pity dollars?
>>1097447
Most people don't actually want a college degree. They want the "college experience".
Really don't get how some of you people don't realize that this is a problem set to literally ruin an entire economy in the span of a single generation unless there's some substantial government intervention.
>>1097600
Well the capitalist world and ideology needs to change anyway. Bernie is mostly right.
1% of half the wealth?
Thats a problem
2/3 of every dollar earned coming from financial services?
Thats a problem
Yall quit crying and driving this fucked train, it needs to be overhauled anyway.
>>1097966
But eventually, you'll either have to die or start working again unless you start having kids to get welfare and that really only works for women anyway.
>>1097621
Yeah motherfucker well this shit impacts you too. While you're going "haw haw librul arts fagets, should've dun STEM like me" they're going to be draining your fucking 401k to offset the debt of hundreds of thousands of people.
Basically, the way I see it:
>college becomes more and more expensive
>wage increases accelerate at a slower rate
>more borrowers elect for income based repayment
>pay off debt in their 50s
>get socked with a tax bill for their income based plan
>everyone goes bankrupt around 2040
>>1097476
>DK's banana hoard, 10 days later.
>it's a please justify me being poor and give me a shred of hope I won't have to pay back my loans coz wahh I don't wanna episode
seen it 100 times m8
>>1097447
if anything, I think it drives up demand for for really intelligent people
college has become the 70's version of high school, everyone needs to complete it in order to even get a basic job, but the constant between the two times is that anyone who's a cut above the rest will outshine those who don't, it's just turned into business related natural selection
>inb4 you must think you're one of those people
no, not at all
sure everyone can get a degree, doesn't mean everyone is good at using it
intelligence cannot be devalued and I think that's what the market is searching for; the really smart people
>>1097565
>and less than 20 of those are in organizations or clubs.
Lol wut. In reality noone cares about your little hobby computer club.
>>1097447
Depends what you use it for.
If you just show up to class, do your time, and go home, you may as well just drop out. Use it to gather as many contacts and get your hands in as many networks as you can. Suck professor dick if you have to, just make sure they know your name and that you're not a worthless sack of shit.
Go to tech school.
But doesnt freedom in America, also include the freedom to destroy your country?
I dont see the problem here?
You have all fallen for the 'MUH FREEDOMS' meme.
Time to bring back Communalism.
>>1097960
>b-b-but muh stock market ecomony
>>1098040
But that only really matters for your first job. After that, it's all experience and who you know. And if you already know somebody in the industry after graduation, that trumps your performance in college.
The only time competitiveness comes into play is specific majors like biochemical engineering or grad school.
And to answer OP's question for the nth time on this board, no. Student loans aren't a fucking bubble about to burst. There can be no bursting, as plenty of anons have pointed out. They aren't dependent on speculation. Prices aren't being artificially inflated by hype.
No. The result will be a drag on the economy for decades. Which is bad, but not a time bomb. It's a weight.
