Sorry, but IMPO, the kids have an issue about these loans hanging over their craniums, while they see millions being paid in bonuses to WS. They see that those millions could hire them.
What they aren't getting is that college which for whatever reason you stayed and got a degree from also screwed you. They too were making millions, if not billions, they are just like WS.
Honestly they are worse. They promised crap, didn't deliver and than said LOOK OVER THERE THEY ARE YOUR ENEMY! Because they aren't hiring, even though 4 yrs ago in our glossy brochures, and campus tours while handing out backpacks with our logos, we fed you the line... WE ARE THE ONES THAT COULD GIVE YOU THE BEST CHANCE IN THE WORK PLACE. Told you they had 95% placement, gave you a spiel about famous grads. The whole yadda, yadda, yadda. Many of the OWS bought what their college sold, and never once turned and said: BS...You have enough money to pay every tuition for every student for their academic career just on the interest you earn!
Sorry, but I still say the protest is directed wrong to who is at fault. Not WS, the govt and colleges. We own GM, Amtrack, regulate banks, SS, why not step in for colleges? Why do we have this outcry about our education system, when taxpayers are paying state taxes to colleges that have a BN in endowment, and their kids school requires parents to donate paper? PLEASE explain to me why, because I can't get it...unless your only defense is that parents don't understand that UVA, a school that gets funded by VA residents has a BN in endowments. If so, than is it the OWS 20 something at fault, or the parent who didn't fight the system and force the state to change?
OBTW...I graduated with a dual major, and a minor in 3.5 yrs, back in 87. I took 15K in loans to attend a private college, which Bullet had to pay back over 10 yrs. The avg college grad has @25K. Pretty sure, 15K 25 yrs ago costs more than 25K now. My starting salary was 28K.
Just saying I did not have a silver spoon either. I took loans too. I however, will call a spade a spade. I have done enough tours, enough application fees, enough BS to say we are in this because colleges are no longer about education, but more about the newest, biggest, bestest Dorm, FB, BB, Library. It is a flipping DOG AND PONY SHOW. They are taking you to the best dorm. They are taking you to selected classrooms. They are taking you to the best of the best. They are selling a product to the prospective student (the school). Cost is not part of the equation when you go through this, happiness and college match for the child is the big factor.
Not saying right or wrong for those parents. I am saying very few of us in this world would tell our child NO if they could get loans. The class of 2009 (college) never expected in 05 (unemployment was @5%) that they wouldn't get a job. They did not see the loan as the risk that people of 09 HS grads view it. HINDSIGHT IS 20/20
Finally, please stop the 80K comment. These kids can only get FAFSA without credit rating pulls. That equals 26K.
If they go for 80K they go private.
From Wells Fargo website, one of the biggest banks for student loans:
Most private student loans applicants are required to have a cosigner, especially undergraduates or students who don’t have a steady income or credit history. The cosigner is required to sign the loan document, but the student is the primary borrower. By signing, the cosigner agrees to be fully responsible for repaying the loan if the student does not fulfill his or her obligations.
If that kid took 80K the folks signed on to it, the parents are at fault too!
Like you said pencil pushing.