College Education New Socially Engineered Trap

[Ross]

Is it really a good idea these days to give kids a few hundred or a few thousand dollars as scholarships to get them started on the path to an indebtedness they may never be able to pay off?

Student Loans: The Bankers' New Socially Engineered Trap

January 2, 2014 By

Naturally, with all the shopping and sales – the holiday season is a good time to think about what you are being sold, and if it's really good value for the money...

According to recent figures from the National Bureau of Statistics, there is only one job vacancy for every five college graduate applicants in America today. In the last 15 years, college tuition in the US has risen a staggering 900%, while wages have jumped an impressive... well, err, an average 10%. For the bright, young, and gifted, this equation should really be studied very carefully.

Regardless of how bleak the outlook is, America has always been the land of positive thinking and no wonder, as there is no shortage in the US government loan window queue of 17 year olds dying to (literally) sign their life away to JP Morgan, Citi Bank and Wells Fargo in exchange for a debt pile of around $60K – $100K in student loans. Add another $2K-5K per year on additional student credit card debt and you can see students even deeper in the red. It's the ultimate 'head start' in the game of debt slavery, with the odds in favour of landing either an unpaid internship, or if you are lucky – some paid work as a waiter or bartender upon graduation.

Students getting into this scam now should expect to be writing out a monthly cheque to their government-bankers until at least the ripe age of 50 years old.

Here's another throwaway statistic: by anyone's estimate, approximately 10% of that loan total will likely be spend on alcohol and other party-related endeavors during college. Good investment?

OK then, if students are being shafted and the higher education bubble is a big scam, then who benefits? Answer: universities fill their war chests, bankers get their securitised paper and the US federal government turns a tidy profit off of your borrowing.
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$1 trillion owed and rising

Donald Trump's Trump "University" is not the only organization accused of running a scam. The whole world of higher education is suspect.

Making emphatic promises of a better tomorrow, but being artfully vague about the details, higher ed has turned into a high growth industry with no accountability, unlimited prestige, and utter callousness towards its customers. Sound familiar? Sounds a lot like Wall Street or Washington or BP on the Gulf Coast, doesn't it?

Who is going to pay back the $1 trillion? What impact will this have on a generation? By the way, $1 trillion is still a lot of money especially when it's taken directly from the pockets of consumers in 22 to 40 years of age.

MUST WATCH VIDEO: on the web site:

http://21stcenturywire.com/2014/01/02/student-loans-the-new-socially-engineered-trap/

[Ross]

Wade Gilley: Next financial crisis developing on campuses

Jan. 05, 2014 @ 12:00 AM

America has faced several crises recently, but the greatest yet to come could be just around the corner. This will be the financial crisis of our colleges and universities, which will shake the nation.

It is common knowledge that the outstanding debt incurred by current and former college students exceeds $1 trillion dollars, and it is growing exponentially. A recent Wall Street Journal column by Dave Girouard, former CEO of Google Enterprises, referred to the trillion-dollar debt and reported that one-third of this debt is in default.

If present trends continue, by 2020, the outstanding debt of current and former college students will exceed $2 trillion, or half of all consumer debt in the nation. If Americans can learn to curb their non-essential spending habits, then the college student debt could be two-thirds of all consumer debt and place a stranglehold on the American economy.

As this danger looms, Moody's has issued two serious warnings to our institutions of higher education regarding excessive non-academic spending and a strong warning about exorbitant spending on athletics. Much of the spending on athletics comes from student fees in most institutions, which in many cases borrowed money. The spending is driven by competition for more expensive and elaborate athletic facilities and higher salaries of coaches (like presidents and others), which have increased more than 30 percent per year in the last 10 years at a time when most institutions have lost money -- and lots of it -- on athletics.

Read the whole story at: http://www.herald-dispatch.com/opinions/x780154867/Wade-Gilley-Next-financial-crisis-developing-on-campuses

[redcliffsw]

It's the 'education people' who want the government support and mandates to cover just about everything in education.  The education lobby is huge and they've convinced government and corporations to hire only 'educated' people.  They don't want anyone without a college education to be President of the bank who began his career sweeping the floor.  If you're not part of their operations and system and paid your dues and respect to them, they don't want you to advance - move up the ladder.  Your approval must be gained thru their system and that's where much government money is allotted - and the educators want more and more.

The education system is full of Bolsheviks (who claim to be Democrats and Republicans) who are taking all they can from the people thru government.  Maybe it will be a good thing when this country goes broke - they won't have the government authority and power behind them to steal our liberty thru the government education.  Government ought to defend our liberty, not steal it for themselves and their policies.

[Ross]