What will happen when the education bubble bursts? Increasing

>>1453209
Valid question ngl

May lead to a market crash if enough people default
However lots of people who drop out/don't use their degree find other/often better ways of making money so i think tuition fees will slowly come down via socialist government regulations before a crash would happen

Good question, I wonder the same thing. Im glad I finished college when I did.

>>1453209
considering the government is expanding its loan programs and more people entering college then before i dont see the bubble bursting. and if too many people fail to pay back loans then they will just print a shit load of more money. there is no solution, once people realized how bad its gotten they refused to change

>>1453220
>tuition fees
>coming down because of socialist government regulations

Hmm, I don't think people should listen to this person.

How can you default on federal student loans? Aren't they non dispensible?

>>1454140
Your wages get garnished, including SS AND Welfare if I'm not mistaken

>>1454140
The majority of student loans aren't federal anymore, there's been far too much money to be made the last 15 years for the corporate loan sector to ignore it.

>>1454262
>>1454262
You can default on the loans, but that doesn't mean you don't have to repay the loan or it gets restructured. Also, the Public Service Loan Forgiveness program forgives federal loans after 120 monthly payments (10 years).

>>1454272
Only idiots get corporate student loans.

>>1454272
>>1455532
Also, private student loans account for only 8% of all the outstanding student debt in the US.

>>1453209
hopefully i will have a job, especially since im graduating with a PhD in a couple years.

But it's definitely getting there. What will happen? people wont go to college, they'll start learning trades and working at stores again, universities will inevitably go under...

then the cycle will repeat. privileged few will go to college again. People will start to realize college degree = success and money, and the flood will start all over again unless someone regulates college acceptance or something.

Don't get me wrong, its a very good thing for everyone to be educated. It's just not feasible for everyone to get the dream job. It cant happen. Now, is it acceptable people are starving in the streets of america? no. there needs to be some balance. im not the person to figure out how that sort of thing is going to work.

A) the government will be forced to create some sort of program that forgives the loans

And

B) All the American universities are gonna take a big hit (good! Greedy fuckers)

>>1455588
this has started with PSLF

>>1455532
y do u think only idiots get corporate loans? They can default and have it off their record in seven years. Federal Loans are lifelong

>>1453209
maybe what this guy says>>1455568

except the corporations will own the schools and the only reason to go to "uni" is to learn photoshop, MATLAB, or C++ or any type of lisenced tool/product

>>1455636
Federal loans aren't lifelong (PSLF), and corporate loans cost far more thanks to higher interest rates and them immediately compounding.
Furthermore, interest on federal loans can be tax deductible, and the government can actually subsidize the loans.
Also, defaulting doesn't necessarily mean magically getting rid of the dues. Sometimes it just means restructuring the loan, some loan forgiveness, or getting some more legal protections.

>>1455650
arent federal loans also compounding yearly?

>>1455653
Only starting when you graduate, not when you get the loan.

>>1455659
i actually read that federal student loans are usually simple interest, not compounding? Is that always the case?

>>1455661
Most are actually compounding, but some are simple.

>>1455647
i could definitely see corporate funding going to HS students giving them a scholarship and promising them work once they graduate. at that point we are in the shittiest of the situations though, i gotta say. people stop going to school because they dont have a guaranteed job after and the whole situation just becomes a tool for corporate gain. idk mang, just sounds pretty dystopic to me.

>>1455650
What are some PSLF jobs that dont have a fuckton of qualifications?

>>1453209
>diminishing value of a degree
>Petroleum engineers median starting salary: $97,900
>Mid career average: $155,000

Yeah man, education is fucking worthless.