The issue is the doubling of student loan interest rates, not asking Steve to "cover the debt of stupid college graduates."

You apparently didn't read the entire "article"

No Alfred, you've got it wrong - "J.B." (conservative Greendale blogger) is the stay-at-home "mom". Leave it to the right-wingers to get the basic facts totally wrong (on purpose). And notice how JB didn't even bother to correct you.
The reason i haven't blogged in a while - yup, working too much... right JB?!!!

Could it possibly be that the mere existence of government loans(ie free cheese) drives up the price of education? Imagine how cheap education would be if the gubmint didn't subsidize it, schools would actually have to compete for students dollars that they earned, not given to them in the form of low interest loans, only to make them debt zombies for 30 years.

Alfred, there may be a connection but I believe the greater problem lies in the privatized student loans. A young relative whose education has spanned the Bush and Obama administration has discovered that certain loans have been sold to other institutions and they are not even due yet. At this point the relative is not sure who is holding all of the loans. This sounds disturbingly similar to the mortgage crisis, when many homeowners no longer know who holds their mortgage.

Debt is debt Bren. Doesnt matter who holds it, you still owe it. I thought that our glorious leader, Barack Hussein Obama, removed the private bank from the equation and all student loans are not goobermint loans? Did I misread this?

Debt is toxic, it is a shame that these over paid thugs in higher education are scamming kids with 30 years of student debt making them debt zombies.

Alfred, no argument about the definition of debt here. Unfortunately different organizations have different rates, etc. The records kept on these loans are no longer valid and exacerbates the situation. I believe that the new law impacts loans going forward, but you bring up a good question. I offered to help the relative try to clean up the mess before repayment would, sounds like a call to the Department of education is in order.

43.4% isn't enough for wash woman Jason P.

I agree that student loans are a scam and as I recall, was identified as the next "bubble" to burst. The facts are that the majority of better paying jobs require a degree; the problem is that there is now little difference in the spending power between the high school graduate working for low wage and a degreed professional crippled by student loan debt. That in turn helps the debtor but the overall local, state, and national economy suffers because of reduced purchasing power, loan payment defaults, etc.

The easy answer is to not go to college, but globalization is a reality. The quality of education in places such as China and India may not be as good as the U.S., but increasing numbers of people are pursuing post-secondary education, worldwide. If we don't want to fall behind in the global marketplace, the U.S. needs an educated workforce. It benefits us all to have a workforce making good pay to keep the economy humming.

My solution? Just as Alexander Hamilton took on state debt, student loans should be taken on by the U.S. government to avoid profiteering.

I do believe access to health care and higher education should not be held hostage by middle men.

How about going after the higher education system in this country in the same fashion you folks rag on the healthcare industry? The reason for escalation in costs is essentially the same. The consumer has very little skin in the game - at least initially.

I was able to attend 4 years of college at UWM while living at home and working part time during the school year and full time during the summer. No reason your kids shouldn't have that same opportunity. Take a look at the cost structure first before expecting the rest of us to foot the bill for you.

Yes, we must all pay for Jason's irresponsibility and financial carelessness because he is incapable of doing so. Since Jason is so inept at figuring out how to pay for college, he throws that onto strangers to help him. Man up Jason, grow a pair you panty waist. Most people work three jobs in order to stay out of debt, or chose a less expensive school.

Jason:

What percentage of families have both parents still paying off their student loans when their kid is old enough to enroll in college? There can't be that many...

How about instead of paying higher taxes to fund your kid's college education, why can't you take that money and put it into a savings account (like a 529) where it will bear interest and grow? Making contributions to the savings account out of every paycheck is just as easy as paying a bit more in taxes out of every paycheck. The best part about it is that you stay in control on your money--you don't have to worry about evil republicans raiding the education fund to pay for social security, medicare or some other unsustainable program...

You would rather pay a little bit more out of your check because it is useless. Your share covers the floor cleaner used in the auditorium., but it makes you feel good that you are contributing, oh the joy of $30 going to eduction, :hugs:

Meanwhile a producer will be covering the brunt of your children's education. With the liberal institutions inability to control their skyrocketing costs who cares. The rich pay for my kids to be brainwashed into Obama soldiers.

The largest reason this is an issue is because of the unbelievable high recent college graduate unemployment rate. They are unable to pay back the loans. Which is funny and ironic and makes me chuckle. Hope and Change sounded good when walking around campus. It didn't really relate to any in their pocketbook when they graduated.

You are wrong, wrong, wrong Alfred! Jason is a compassionate fellow American who believes we are all in this together. Not just you ":fat cats". Shame, Shame, Shame for being so selfish and self centered!

early start at the Club Tap today Al?

This was said 32 years ago, and it is true today.
Danny Noonan: "I planned to go to law school after I graduated, but it looks like my folks won't have enough money to put me through college."
Judge Smails: "Well, the world needs ditch diggers, too."

Some of the students in college today are no sharper than the crayons that they write with, and yet the schools take their money and send them into the world with no way of repaying any loans.

Your post points out some evolution over time, but has the post secondary education system evolved enough? The only real changes that I have seen involve costs.
Lyle, It sounds like your children did well, but there is a large amount of abuse of the loan system. Just like with credit cards, some college students are irresponsible (as are some other adults), should we give these students interest rate breaks, on credit card debt, or are they being thrown under the bus too?

@Greg....Costs are a huge issue. Tuition in the state has gone sky high and the state has continually decreased the funding to state institutions, requiring students to borrow more money to meet tuition demands. As taxpayers we benefit directly from a well educated population. The Madison area has exploded with innovative companies benefiting from the UW. I think, we have to make every effort to reverse the increased tuition for in-state students.

As far as credit card debt for students, that is entirely a different matter. That is a voluntary debt that has nothing to do with school. Neither of my kids have credit cards and my son, who is now a graduate student in CA, just got a low limit retail card so he could build a credit history. I have no sympathy for young people who go into consumer credit and it's not the same as school debt.

I think that the 'cheap' loans are part of the reason that costs are so high. Universities aren't really having to keep costs low because they know that most students are able and willing to take on high levels of low interest debt to finance their education. Universities all seem to be much 'richer' than they were 20 years ago--I'm thinking that the quality of education really isn't staying in proportion to the tuition increases.

Costs are sky high because of the over paid, over fed union goon professors and staff with their rich benefit plans. Also, anyone with an econ 101 knowledge of what happens when the gubmint gets involved in a commodity knows that the price goes up...look at healthcare.

@Alfie...The way you state things it sounds to me that your not only anti-academic and anti-intellectual, but you sound as if your bitterness in a large part is because you were unsuccessful in college. Did you fail to maintain the minimum AGPA or was it that you couldn't handle it socially and emotionally?

There is a place for those that have achieved college educations and there is a place for those who have not. It would be interesting to find out what you finally wound up doing for a living. Would a college degree have helped or not?

@Steve...I am not opposed to business, I spent over three decades of my life in business. Just because someone has accumulated wealth, power, status and material possessions; that doesn't make them any better than anyone else. The virtues are not dependent on status, wealth or power, they must come from the heart. Honesty, humility, justice and earned respect can't be purchased, it must be earned. One day Steve, as you age and mature; you'll eventually find that all you need is three squares a day, a roof over your head and clothes to cover your body, What's truly important are the real relationships that you make and the people you help.

@Alfie...Business huh, that explains it. You should have taken more humanities classes. BTW, running a one man insurance agency?

So is running a business a bad thing? We all can't run around doing service projects all day long.

@Greg...No, it's not a bad thing; unearned arrogance is. I ran businesses for over three decades and still did community service projects. it's not one or the other. Up until I retired I taught part time and since retiring I have been able to devote myself to avocations that I didn't have time for before. People like Alfred and Steve give business owners and managers a bad name.

I'll be honest and state that I have a problem with business schools and think they shouldn't be part of university educational institutions. To me they are more akin to trade school training and for the most part a college degree doesn't help with starting and running a business. MBAs used to mean something, but they've become a dime a dozen and basically pay your money and you'll get your degree.

Basically like every other college degree then, but the current target in Lyle's war is private business big and small, degree or no degree. Any endorsement from Mr. Ruble would be a kiss of death so it is nice to see his personal comment.

@Michelle A. Schultz...Full time tuition at UW and UW-M is currently $4300 per semester. Even if you live at home and attend one of these two schools, with books and tuition it's $10 grand per academic year.

Jason:

Where are you getting the idea that the 'rich' are getting the handout?

Where are you getting the 'five years of tuition' from? Getting a degree used to take 4 years--has that changed in the 20 years or so since I graduated? If you stretch 4 years of education out to 5 years, that seems to allow more time for part time work without sacrificing academic learning.

How long as 'anyone in your neighborhood' been contributing to college savings plans for their kids? You should have around 18 years of savings to come up with that $50k. By my math, that comes to around $2,778 per year or $232 per month--assuming no increases from interest earnings. In reality, it will likely require a contribution of fewer dollars per month. It doesn't seem to be all that unrealistic to expect someone to have $50k to put toward college tuition.

Liberals complaining that a liberal institution is too expensive. But then blame the rich for it.
Classic

Let's just call Jason, "Leaky"...always looking for an excuse, always thinking that everyone had it better than him. Listen Leaky, college has always been a sacrifice for people to pay and complete, you don't seem to comprehend that when the old guys had it good with cheap tuition, most were making $2 bucks an hour because that was the minimum wage. Leaky , your father certainly failed in raising a man, you sir are a whiney eunuch, but no different than the rest of the liberal male population.

Could anyone explain to me how banks will be charging 6% on loans that have to be subsidized by taxpayers, when the interest paid by savings accounts is less than one percent? It seems like somebody is making a nice profit margin here.

Was someone asking how this could be a handout to the rich?