Rising college loan default rates

blossom
Sun, 26 Aug 2018 17:32:14 +0000

And people are woefully naive when it comes to the work world. The same folks who can consult 5 different websites and read past reviews to figure out where to order a pizza, and wouldn’t dream of buying sun tan lotion without consulting the “experts” online, assume that a degree in travel or sports is the fast ticket to a lucrative and snazzy career working for Disney or ESPN. There are unscrupulous four year colleges happy to “sell” a kid the idea that you need a degree in legal studies to become a paralegal, or a degree in health management to work coding insurance claims. Parents and kids don’t bother to do their research- and then can’t fathom why they are having trouble paying back their loans on an entry level salary.

There is a large gym near my home (one of the big national chains) which is the “employer of last resort” for kids with degrees in sports management who can’t get a job which requires an actual four year degree. The kids are so frustrated- working the front desk (a job which require a HS diploma) trying to figure out where things went wrong. And they learn- belatedly- that most of the big time major leagues sports agents have law degrees (three more years of school) and that the folks running the large TV networks have MBA’s (two more years of school) and their loans are due any day now and why the hell did they rack up debt to hand out towels at a gym?