The problem is that student loans cannot be defaulted on, and our tax dollars guarantee the banks and schools their money no matter how many bad loans they make to people who can't afford to pay. If the schools and banks were not held harmless, they wouldn't hand out thousands of dollars to people beyond their ability to pay. With less people applying, it would increase competition among the schools (the right wing holy grail) and prices would come down.

Right on

Ironic isn't it. The Baby boomers who were going to change the world and have everyone live peacefully and harmoniously together have turned out to be the most self-centered, egotistically generation that we have ever had. They had managed to run up so much debt, public and personal, that our grandkids won't be free of it. The baby boomers mothers and fathers were the “greatest generation” Instead of seeing the sacrifices they made for them, the baby boomers have lived a life of indulgence, self gratification, and personal pleasures. I learned from my father, you don’t buy things you can’t afford, you don’t ever carry credit card debt, and don’t ever be beholden to someone else because of a loan. Once you owe someone something you can no longer be the master of you own wheelhouse. Just like we know bow to the Chinese cause they are the only ones who will buy our debt.

If ignorance is bliss, you must be one happy camper. "A college degree was once the path to the American Dream. Students were once able to pay their way through college by working part-time. That is no longer feasible as tuition prices have increased by over 800% since 1980. These days, a college degree looks something more like a nightmare as graduates enter the declining workforce saddled with tens of thousands of dollars in student loan debt. Borrowers often face usurious fees that cause their loan balance to balloon to 2-4 times the original amount they borrowed. Millions will be burdened with this debt for the rest of their lives, unable to purchase homes, vehicles, have children, start businesses, and even save for retirement. These are the very things we need people to do in order to pull our economy out of this recession. This bill proposes a 10 year repayment plan at 10% of a borrower's discretionary income and after 120 payments, the remaining balance is forgiven, and not considered taxable income."

We need to allow students to put these loans into bankruptcy, and teach the lenders a lesson. We don't need more loans or cheaper loans; we need cheaper tuitions.

"Michigan families pay more to send their children to state universities than families in almost any other state, according to a Bridge Magazine analysis. Not coincidentally, Michigan also gives less money to its public universities than almost any other state."
A decades-long decision to skim money from the state’s 15 public universities means Michigan teens face a higher hurdle to attend college and leave campus with more debt than their peers in other states – both factors that are likely to erode the Michigan’s ability to revitalize a moribund economy.

"College costs across the country have doubled in the past decade, according to the Consumer Price Index, partly because of rising health-care and retirement costs of university employees. But the difference in cost between public higher education in Michigan and other states can be traced to one thing: Budget decisions made in the State Capitol. As state support drops, more of the cost of college is shifted to students and their families — a 21st century “college tax.”

Snyder, McMillin and the rest of the radical right wing are doing to universities what they are doing to Rochester Schools. They are diverting our tax dollars from our children to their corporate pals.

@ Oakland...

Did you ever consider that a big part of the reason that tuition has increased as much as it has is because of the number of loans being given freely to cover those costs? An endless supply of customers causes prices to go up.

I see colleges with spa's, well apportioned gyms (not the athletic type) and other assorted goodies that were no where to be found when I paid my way through.

MMB,

You signed up for a loan for this 4 year education and promised to pay it back, then stick to your commitment. If you chose the wrong degree that cannot find employment that is your choice, the risk you took and up to you to make it work. This is a lesson in life; if you make decisions and a commitment you follow through. Using others who seem to get a free ride is not a reason for you to get out of your commitment.

This is the most important lesson everyone must learn to succeed in the real world, your reputation and follow through on your commitments are all you have to sell to potential employers. Employers will hire people who they trust and do not have the victim mentality, or the attitude that they deserve something because someone else got it! You must earn everything you get in life, sometimes it is easy and sometimes it is hard, welcome to life.

Ignore them. You kids are getting screwed by a bunch of hypocrites. They can take our tax dollars for their business and personal gain, just don't give it to our colleges or Rochester Schools.

In a nutshell: The crying about college debt comes from those whose families never saved a dime, always lived on credit. Add to that the fact that the academic culture by its nature believes everyone else is responsible for the bills and sees no reason to curtail its own spending, including salaries.

Parents who take the long view and are not into instant gratification do not have major problems regarding college education for their children.

All part of the liberal perspective--which will be defended by those with that perspective and in total denial that they have it. Who knew! Gary Peters will do what he can only do: offer more liberal non-solutions to problems requiring a different approach which he is incapable of understanding.

Comes with genetic defect.

Ed,

Forward planning is the key to affording a college education. My wife and I are now up to 4 grandkids, their parents have already opened up college savings accounts that we all contribute to at Christmas and Birthdays as part of their gift. It is small dollars today, but over the years these dollars and interest add up to a lot of money if we all maintain this practice.

Just because others do not plan and make sacrifices does not mean they get a free ride. Whether you are rich or poor, forward planning and sacrifice will get you what you desire in the future.

The colleges are not fiscally responsible and have built an unsustainable model that just keeps increasing their price to feed the monster. They have not seen the hard times the public sector has seen in this recent recession in 2008 and feel they are above any cuts. Government is not the answer; look around, everything they touch is mismanaged because they make political based decisions, not logical ones.

Darryl,
1. Not everyone has parents or grandparents that can afford to help them.
2. With four grandkids, college will cost $400K at a min. - if they just go to MSU or UofM. That's a gift of 2,000 a month each month, each year, for 18 years. Some people don't even earn $24,000 a year let alone can afford to "gift" that kind of money.
3. Your "tough" attitude is exactly what I have against conservatives. You don't give a hoot about anyone but yourselves, and you never miss an opportunity to tell everyone what "good christians" you are. Because you have money, you don't care about leveling the playing field for anyone who doesn't. As long as you get the tax breaks and reap the benefits of corporate welfare, you actually have the arrogance to preach at the "losers", who according to you, deserve whatever fate happens to befall them in life because they did not "forward plan".
4. Last but not least, Google/LinkedIn says you own a private vocational school and that you work for CMU. Apparently you make your living off of student loans and our tax dollar. As a private school, I would be willing to bet you got your share of public job training funds in 2009/2010 during the Granholm administration . When YOU get our tax dollars, it is capitalism. When students get our tax dollars, it is welfare and socialism. Typical right winger.

Oakland,

There you go again, making acquisitions without any facts. You hide behind a false name and throw angry insults at people without any substance, you are meaningless noise.

For the record, I put myself through college while working full time and obtained my BS and Master degrees without any student debt. I did what I could afford, not take on some debt I tried to get someone else to pay for. This was possible in my day, it is possible now, it is called hard work.

You seem to have this belief that there is a money tree, you are a victim and must take from others to get your fair share. Join the rest of the real world and work for it and make your own way.

Regarding my vocational school, you know nothing about our business but decided to attack it and call it bad and jump to conclusions. You have no idea of what you are talking about. Like I have said in the past year, come out of hiding and let's have an intelligent conversation.

Neither are yours.

Amber,

Life is hard sometimes and if you want something bad enough you will find a way to make it work with sacrifice. I paid for both of my daughter's college because I planned for it and made sacrifices, they worked during school and they lived with me to keep expenses down. My last daughter finished a couple of years ago, so it is recent, they have no college debt. Is it fair that people who plan and make personal sacrifices to get through college without debt to pay for others who did not?

College tuition rates, fees and books are accelerating at an alarming rate, Why? Look at the wages, benefits and pensions they pay which are much higher than the private sector and the sustainable costs are continually rising. Do you remember the Oakland University professors going on strike in 2009, the same time the auto industry was losing jobs in the tens of thousands, huge pay cuts, benefits evaporating and pensions gone? The professors got their raises and did not see any of the tough times, they kept raising tuition and they complain that they need more money from the taxpayer.

When you measure the average graduation rate of a Michigan community college after 3 years for a 2 year degree they are at a 15% graduation rate. When you measure the average graduation rate of a Michigan university after 6 years for a 4 year degree they are at 50%. They do not measure themselves on job placement! I thought that was the idea of a college degree, to get a job!

Oakland, I suggest that it is the liberal bubble that is about to burst. Are you taking note of primary and recall elections around the country? Do you remember the national vote in 2010? How about the last vote in Troy?

What do you fear from the tea party? I wonder if you have that same fear of very popular talk radio hosts and of the most popular cable news channel? Give it your best. Humor is always welcome.

I like Daryl's new name! Pretty funny stuff.

Grow up Oakland and come out of hiding, we have seen you under many false names on this site in the past. It is the same meaningless noise.

Larry,

The fact is Oakland is a scared person that thinks he/she is a victim. I feel sorry for Oakland, people have the power within themselves to thrive, all they have to do is tap into it and work hard. They will have failures, but those are lessons and necessary steps to success.