Debt Servitude for Life; Future of Most College Graduates

( ~ ed. Why College?  Even with a degree, no skill, no job opportunities and mass, unforgivable debt, for what? for what? for an education that teaches you nothing of use in your future?)

Student debt is out of control.  Over $1.3 trillion in student debt is floating out in the current economic system.  Most of this debt is saddled firmly on the backs of younger Americans who coincidentally are also entering into a job market with incredibly low wages.  This idea of high tuition with low wages isn’t some made up propaganda to distract you.  This is reality.  The math behind this is all clear cut because inflation has eroded the standard of living of Americans to the point that the middle class is now a minority.  Student debt carries larger implications than merely paying for a college education.  Many younger Americans are unable to buy homes because of the amount of student debt they carry.  Many are also delaying bigger purchases because of the large debt they already carry.  This path is clearly unsustainable.  Just take a look at wage growth and total student debt growth over the last 25 years.

Student debt versus wages

One good way to look at student debt is through the lens of wage growth.  You would hope that student debt was growing at a pace similar to that of wages.  That is not the case.

Here is a chart showing wages and student debt over the last 25 years:



While median wages are up 1.6% median student debt is up a stunning 163.8%.  This is why we are seeing so many young Americans struggling and also why so many are rallying behind the cause of free public higher education. Of course the question as to how this gets paid is yet to be seen.

Over this period of time wage growth is simply not supporting the amount of debt being taken on:

This is not good.  Since 1990 debt has nearly tripled as a share of the typical college graduate’s annual wages meaning it is tougher to service that debt.  Sure rates are low but who does this benefit?  Lower wages merely inflate the underlying asset, in this class a college education on the back of easy financing.

This is a problem.  All you need to look at is rising delinquency rates:

Student debt is now the worst performing debt sector in our entire economy.  This is a big problem and is something that needs to be examined more closely.  Student debt has allowed for a large growth in poor performing schools that merely seek to take in federal funding.  One perfect example is the for-profit institutions.  There are many that have come under fire recently for essentially serving as vectors to siphon off federal loans and leaving students with a worthless piece of paper.

Beyond the for-profits, many schools simply are underperforming for what they are giving to students.  Students continue to take on inordinate levels of debt simply to stay competitive in the current marketplace.

The student debt problem is a big one.  Back in 2004 total student debt stood at $260 billion:

Today it is at $1.3 trillion.  So in a matter of 11 years student debt has grown by more than $1 trillion.  And some will try to argue that we don’t have a debt problem.

See Also:

The Pornhub Cares Program???


Pornhub, the world’s largest porn site, is back at it again with their seemingly never-ending attempts to normalize pornography in society.

The massive online porn clip hub announced Thursday that it is offering a $25,000 scholarship to one legal age college student. The applicants for this scholarship need a 3.2 GPA, an essay answering the question, “How do you strive to make others happy?” and five-minute video that “elaborates on the good work you do and anything else you might want to say.”

Pornhub Vice President Corey Price told CNBC that it decided to offer the scholarship in honor of its newly launched charity, Pornhub Cares, after discovering most of its viewers were between the ages of 18 to 25. It saw this as a way to give directly back to the millennial community.

“Pornhub Cares is a compilation of Pornhub’s past, present and future philanthropic initiatives,” Price said. “The Pornhub Cares Scholarship aligns with our trajectory here at Pornhub, which is firmly set on providing happiness and opportunity through the worldwide community we have established. It’s about giving back and providing our fans with life changing experiences/opportunities.”

A GPS Tracker for Kids Had a Bug That Would Let Hackers Stalk Them

Police across America are forcing high school students to take breathalyzers

Lifeloc Technologies, a company with close ties to law enforcement is profiting, from putting their breathalyzers in high schools everywhere. Click here, here & here to find out more. “Lifeloc Technologies is the first breathalyzer manufacturer to introduce a “Made in America” precision fuel cell tester that is also built upon our 25 years of Law Enforcement breath testing experience.”

In order to graduate from high school in Louisiana, students will soon be required to apply for federal financial aid for college.

The state’s Board of Elementary and Secondary Education approved the new graduation prerequisite earlier this month, and the new policy will go into effect beginning with the class of 2018.

The move makes the Pelican State the first in the country to require students to fill out the Free Application for Federal Student Aid, also known as the FAFSA, in order to receive a high school diploma.

Chart Of The Day: $17 Trillion In Student Debt By 2030

Failure to Pay Student Loans Led to the Arrest of a Texas Man

Google is tracking students as it sells more products to schools, privacy advocates warn

In public classrooms across the country, the corporate name that is fast becoming as common as pencils and erasers is Google. More than half of K-12 laptops or tablets purchased by U.S. schools in the third quarter were Chromebooks, cheap laptops that run Google software. Beyond its famed Web search, the company freely offers word processing and other software to schools. In total, Google programs are used by more than 50 million students and teachers around the world, the company says.


Koch Brothers Supersize Higher Education Spending

A pair of private foundations led by the billionaire industrialists poured more than $23.4 million into U.S. colleges and universities during 2014, according to a Center for Public Integrity analysis of tax documents recently filed with the Internal Revenue Service.

In some cases, the Koch foundations have attempted, or succeeded, in attaching certain strings to their contributions, such as control over curriculum, and more recently, obtaining personal information about students. Dozens of college officials interviewed this year by the Center for Public Integrity assert that their professors retain full academic freedom and may teach as they see fit, regardless of who is funding their programs.

The vast number of agreements between wealthy donors and the college and universities they fund are never made public, so it’s impossible to comprehensively assess the conditions attached by such benefactors.

There is little to no way, with computers becoming center bases for learning going forward in schools, to fully protect and immunize our children from this perversity and onslaught of amoralities and immoralities.

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