college tuition

Student Loan Debt Time Bomb

ozzieharrietAh, the American Dream.  Go to college, work hard, graduate, get a good job, career and then you'll be set for life with high earnings, enough money to buy a home, raise a family and retire comfortably.

Oops, rewind, this isn't the Ozzie and Harriet show, it's real life.  Did you know student debt is one of the few debts one cannot declare bankruptcy on, no matter what?  That literally you have to be in a pine box, or close to it, to have your debt forgiven?  That 53.6% of those under the age of 25 with a four year college degree or better cannot find a job?

Student loan debt is now the next great bubble, threatening the U.S. economy as the mortgage crisis did. The NACBA released a study and calls student loan debt the next financial crisis, on the level of the mortgage crisis.

  • College seniors who graduated with student loans in 2010 owed an average of $25,250, up five percent from the previous year. Borrowing has grown far more quickly for those in the 35-49 age group, with school debt burden increasing by a staggering 47 percent.

Saturday Reads Around the Internets - Over Half of New College Grads Can't Find a Job in 2011

shocknews Welcome to the weekly roundup of great articles, facts and figures. These are the weekly finds that made our eyes pop.


53.6% of New College Grads are Jobless or Underemployed in 2011

Dr. Andrew Sum crunched the numbers and for those graduating from college with a Bachelors we have some startling news. A whopping 53.6% of those under the age of 25 who have a college degree are either unemployed or unable to land a job in a field associated with their college major. Associated Press:

Corporations Want Instant Ready Disposable Workers, Not Employees

The Wall Street Journal finally said what most working people know, there is no worker, or skills or talent shortage in America. The real problem is employers, their arcane human resources policies, and the demand for instant ready workers like some sort of ready to eat microwave meal.

disposableworkers, cartoonist unknown

United States Universities Subsidizing The Competition

The below video exposes the University of Michigan recruiting and educating foreign nations in fields where companies are now laying off Americans. The video points out this is paid for by the US taxpayer, which begs the question, why is the US taxpayer subsidizing it's own economic destruction and why are our Universities, that we pay for, promoting this?

Further reading:

Are Our Universities Ours?