Tuesday, March 14, 2017

Student Loan Default

Senior Power Line blogger John Hinderaker notes a Washington Post story about student loan debt default. He quotes the following from that piece:
The Consumer Federation of America released a study Tuesday that found that millions of people had not made a payment on $137 billion in federal student loans for at least nine months in 2016, a 14 percent increase in defaults from a year earlier. The consumer watchdog used the latest data from the Education Department, which manages $1.3 trillion in federal student debt owed by 42.4 million Americans.

“Despite a rising stock market and falling unemployment, student loan borrowers are still struggling,” said Rohit Chopra, a senior fellow at CFA and former student loan ombudsman at the Consumer Financial Protection Bureau. “The economy remains very difficult for so many young people just starting out.”
Imagine all the snowflakes with degrees in Victim Group Studies or similarly impractical fields of "study" who find no market demand for their nonexistent skills and obvious sense of entitlement. I wouldn't hire one, would you?

Please, if you know young people headed for college, counsel them to seek a major associated with an active and vibrant job market. The days when any baccalaureate was a ticket to ride the gravy train have been gone for nearly a half-century.

Major matters, more than ever. Personal growth, if that is what it is, can be pursued avocationally after achieving career employment.