Ripping Off Young America

[babylon1]

http://www.rollingstone.com/politic...ung-america-the-college-loan-scandal-20130815

"In a way, America itself is violating the Truth in Lending Act. It's cheering millions of high school graduates toward college every year, feeding them into the debt grinder under the banner of increased opportunity, when full disclosure would require admitting that there isn't a hell of a lot waiting for them on the other side, where the middle class has nearly vanished and full employment is going the way of the dodo.

We're doing the worst thing people can do: lying to our young. Nobody, not even this president, who was swept to victory in large part by the raw enthusiasm of college kids, has the stones to tell the truth: that a lot of them will end up being pawns in a predatory con game designed to extract the equivalent of home-mortgage commitment from 17-year-olds dreaming of impossible careers as nautical archaeologists or orchestra conductors. One former law student I contacted for this story had a nervous breakdown while struggling to pay off six-figure debt. It wasn't until he tapped into one of the few growth industries open to young Americans that his outlook brightened. "I got my life back on track by working for a marijuana delivery service in Manhattan," he says. "I've had to compromise who I am . . . because I started down a path that I couldn't turn away from. Student loans aren't hope. They're despair."

 

[ltheghost]

It's all good. When we get in power we are just going to write the student loan debts off...probably on a war against terror or something but this student loan shyt is ....Angering...at best.

 

[Chris.B]

the problem is kids going to school and getting bullshyt degrees...It's very rare to find an engineering graduate without a job.

College isn't for everyone, at this rate 20 years from now a cashier at wallmart will require a degree

 

[Schmoove]

The next 30 years are gonna be really interesting. When this generation of college students become lawyers, government officials, etc, this country won't be the damn same.

 

[Vandelay]

Bullshyt degrees, corporations cutting labor, lack of tech revolution locally, and entrepreneurialism at a low all are creating a really fukked up situation now and for the foreseeable future.

 

[NZA]

im not convinced entrepreneurialism is at a low. my career (SEO/marketing) brings me in contact with entrepreneurs all day every day. the internet has spawned a lot of bootstrapped companies and has caused mom and pop shops to think beyond their neighborhood. we have no shortage of them. if anything, there are too many. the failure rate is high. a lot of entrepreneurs just need a damn job.

 

[Vandelay]

im not convinced entrepreneurialism is at a low. my career (SEO/marketing) brings me in contact with entrepreneurs all day every day. the internet has spawned a lot of bootstrapped companies and has caused mom and pop shops to think beyond their neighborhood. we have no shortage of them. if anything, there are too many. the failure rate is high. a lot of entrepreneurs just need a damn job.

SBA loans and such are hard as ever to get...maybe "at a low" wasn't the right phrase, but I don't really consider social media revolution an entrepreneurs boom. Because it doesn't take much to start, much to run, and the "money" they generate is speculative.

 

[NZA]

SBA loans and such are hard as ever to get...maybe "at a low" wasn't the right phrase, but I don't really consider social media revolution an entrepreneurs boom. Because it doesn't take much to start, much to run, and the "money" they generate is speculative.

sba approval is at a 2 year high. they have eased up on the guidelines now.

and when i talk about businesses online, im not only talking people who want to start a social network or an app, im talking people who want to do traditional things, but will rely on a significant portion or the entirety of their sales coming from their website.

 

[Vandelay]

sba approval is at a 2 year high. they have eased up on the guidelines now.

and when i talk about businesses online, im not only talking people who want to start a social network or an app, im talking people who want to do traditional things, but will rely on a significant portion or the entirety of their sales coming from their website.

I'll have to take you at your word for that. However, if I'm hearing you right, I used to work at company that shall remain nameless that was the physical warehouse for a lot of those mom and pop shops you speak of, they were virtual stores and we supplied the space and product for it; hardly a system to create and sustain large numbers of jobs. All it took was someone building the webpage and linking up with our company to "sell their product". We went as far as to rebrand the packaging with their logo or retail name.

Hell this is the business model for one of the biggest companies in the world (Amazon), but it doesn't really increase employment. They would have their company regardless, and its a way to more or less keep any potential competitors in check because they are getting a piece of the pie without giving up any real marketshare.

 

[The Hovering Heed]

well if the kids are getting tricked on going to college for these fucc boy degrees, i blame it on their family.

i got my whole family on lock rite now, they better have a folder of research before they pick their major.
& they going to community college first.

as for me Chemical engineering bruh!

"nautical archaeologists or orchestra conductors" . HA!

 

[The Hovering Heed]

Also , make sure your school is accredited in your major.

the school wont tell you , you've got to find out on your own.

 

[NZA]

I'll have to take you at your word for that. However, if I'm hearing you right, I used to work at company that shall remain nameless that was the physical warehouse for a lot of those mom and pop shops you speak of, they were virtual stores and we supplied the space and product for it; hardly a system to create and sustain large numbers of jobs. All it took was someone building the webpage and linking up with our company to "sell their product". We went as far as to rebrand the packaging with their logo or retail name.

Hell this is the business model for one of the biggest companies in the world (Amazon), but it doesn't really increase employment. They would have their company regardless, and its a way to more or less keep any potential competitors in check because they are getting a piece of the pie without giving up any real marketshare.

if those clients play their cards right, selling in amazon's marketplace can be very lucrative. some of my most successful clients sell on both amazon and their own sites. it's one of the strongest ways for a small time seller to get some traction. amazon's marketplace is more important than ebay's for small time sellers. the only drawback is that it is easy to get kicked out due to too many complaints.

you dont need to take marketshare from amazon since amazon is willing to give you some shine. having your products show up on amazon is worth a lot of trouble.

i think we cant really expect entrepreneurial endeavors to be big drivers of mass hiring per business until a new product or service hits the market that creates some kind of growth. until that happens, many entrepreneurs are just people who are attempting to create their own job because the job market sucks.

 

[Vandelay]

i think we cant really expect entrepreneurial endeavors to be big drivers of mass hiring per business until a new product or service hits the market that creates some kind of growth. until that happens, many entrepreneurs are just people who are attempting to create their own job because the job market sucks.

And this is where I am at, there are no new growth products or services being created. Just rehashes of the shyt that came out 20 years ago. Your Apples, your Dells, your Sony's (Japan, but still), you AOL's, your Microsofts were both entrepreneurial and drivers of growth. The things that are really cutting edge, are being pioneered in other countries and stagnated here.

Maybe I am expecting too much of this generation of entrepreneurs; I'd much like to become one of them, but I'm not gonna sell the same snake oil that's been fried and refried over again.

 

[Vandelay]

well if the kids are getting tricked on going to college for these fucc boy degrees, i blame it on their family.

i got my whole family on lock rite now, they better have a folder of research before they pick their major.
& they going to community college first.

as for me Chemical engineering bruh!

"nautical archaeologists or orchestra conductors" . HA!

This is a real problem too...the system shouldn't be set up to have 17-18 year olds shouldn't be signing off the next 20-30 years of their life for some bogus dream to be a child psychologist and a guarantee be in the middle class by doing so. I tell everyone nowadays get the best education they can for the least amount of money, and in a lot of cases short of the Ivy League that may be community college or trade school and than down the line a 4 year university once your mind is right.

My neice just graduated high school, was the head of class (class president), and damn near the valedictorian...but she's going off to some school in upstate NY that costs 40K a year, but has no clue what she wants to do. Its indicative of too many high schoolers nowadays; and its damn near a crime to saddle so many people with that kind of debt, no direction, and more and more; no way to pay it back. Its fukked up because you should know what your signing up for; but its even more fukked because the people who are lending the money have to know its another bubble waiting to burst.

 

[babylon1]

The next 30 years are gonna be really interesting. When this generation of college students become lawyers, government officials, etc, this country won't be the damn same.

as if they will have any power. real power is never ceded outside of the cabal's families.