How Student Debt Can Ruin Home Buying Dreams

[fortune11]

Paris view the CBS video. The guy got replaced for half of his salary and no benefits.

Another guy at Disney had to train his replacement. The CEO of Disney Bob Igor, said having their employees training their replacement was a mistake and he feels sorry for that and apologizes for that.


There you go-yo.

I think H-1 B abuse is also rampant w some of these IT outsourcing companies based in India .  This is when you have qualified non-US PhDs in STEM waiting for years and years whereas the low skilled IT workers from these companies snag all the visas upfront.  One of my friends who is a partner in one of these big 3 /5 accounting firms tells me with the recent crackdown in H-1B abuse, many of these firms are having to actually pay up for a change and it is changing how much they can low-bid on contracts. 

 

[Liar Loan]

Bro it?s happening everywhere not just Disney.

Practically the entire IT department at UCSF got outsourced. (Jeesh)

I'm not saying it isn't.  I agree it probably is, as long as they can stay just "under the radar" to avoid media/government scrutiny.  UCSF obviously failed in this regard.

My only point is the Disney outsourcing was so egregious it helped shine the spotlight on this problem.

 

[usctrojancpa]

I agree. A big part of the blame should also be predatory lending. It is what led to the housing crash with all the subprime lending. We need to stop backing all these inappropriate private student loans. If the kids simply can?t get the $$ then colleges cant so easily jack up their prices.
And parents need to stop telling their kids they can choose the Bentley of colleges when they can only afford the in state public college or have to consider community college first with a transfer.

I also think it?s this false notion among the public that advanced degrees = higher pay. And no one has a plan. No one is intentional going into college about what exactly they want to do, or at least have an idea. So there is a lot of wasted time, wasted education all which rack up unnecessary debt.
I had a plan to be a physician at a young age. So I knew what I needed to do to get there. But some of the most successful people I know only have an undergraduate degree. Most of the time from a ?no name? school. And half of them came from another country and they don?t even have any college education. They have street smarts and are natural entrepreneurs.
My husband works for a fortune 50 company and they simply cannot find the employees they need with the skill set required in America. They literally have to hire people in other countries because the skill set (acquired simply from a trade school) is lacking. Why is sociology such a popular major, seriously?
Getting a high priced education and then ending up working retail or Uber and demanding a $20/hr minimum wage to work at McDonalds is not the answer people.
Our high schools clearly need to do a better job at encouraging career planning.

Why do some many students pick "fluff" majors such as sociology or art history?  One reason could be that they think those majors are easier than STEM majors (and most likely true).  I think a lot of college students think that most majors are all the same and as long as you graduate with a degree you'll be fine, but that's not the case for many of those students graduating with one of those "fluff" majors.

 

[collected]

Tons of waste in universities these days.

https://transparentcalifornia.com/salaries/search/?a=university-of-california&q=admin&y=2016
10,994 employee records found for the word "admin"

This story sums it up perfectly:
But the number of administrators and managers passed the number of faculty in 2011, and, as of 2015, there were 10,539 administrators and managers and 8,899 tenured or tenure-track faculty.

http://www.sandiegouniontribune.com/opinion/editorials/sd-uc-tuition-hikes-administrative-bloat-20170105-story.html

Also look at the salaries of the administrators and people are still scratching their heads wondering why tuition keeps increasing. 

https://transparentcalifornia.com/salaries/search/?a=university-of-california&q=custodial&y=2016
Everyone is overpaid at the cost of enslaving students.  Janitors are also being paid $80,000+ a year.  Hmm I wonder why costs keep increasing. 

Big union keeps on pushing for even higher wages.  Strikes happen almost every year even though wages keep outpacing the private sector by a lot.  They seem to care a lot about the students.  Make the students pay for loans so they can retire at fifty with a large pension.
https://www.cbsnews.com/news/uc-strike-2018-05-07-university-of-california-workers-go-on-strike-over-pay-today/

If college is made free this problem will only get worse since rising costs won't deter students from enrolling.  Even better would be the government getting out of the student loan business.  If students were denied college funding for useless majors or bad grades it would help a lot.

 

[freedomcm]

https://transparentcalifornia.com/salaries/search/?a=university-of-california&q=custodial&y=2016
Everyone is overpaid at the cost of enslaving students.  Janitors are also being paid $80,000+ a year.  Hmm I wonder why costs keep increasing. 

Big union keeps on pushing for even higher wages.  Strikes happen almost every year even though wages keep outpacing the private sector by a lot.  They seem to care a lot about the students.  Make the students pay for loans so they can retire at fifty with a large pension.
https://www.cbsnews.com/news/uc-strike-2018-05-07-university-of-california-workers-go-on-strike-over-pay-today/

If you actually look at that link, none of them are "janitors", they are all "supervisors" or "managers", and there are only 50 of them for the UC system(!?)

This is because almost all of the actual workers were outsourced to local jobbers that hire spanish speakers (you do the math).

 

[eyephone]

https://transparentcalifornia.com/salaries/search/?a=university-of-california&q=custodial&y=2016
Everyone is overpaid at the cost of enslaving students.  Janitors are also being paid $80,000+ a year.  Hmm I wonder why costs keep increasing. 

Big union keeps on pushing for even higher wages.  Strikes happen almost every year even though wages keep outpacing the private sector by a lot.  They seem to care a lot about the students.  Make the students pay for loans so they can retire at fifty with a large pension.
https://www.cbsnews.com/news/uc-strike-2018-05-07-university-of-california-workers-go-on-strike-over-pay-today/

If you actually look at that link, none of them are "janitors", they are all "supervisors" or "managers", and there are only 50 of them for the UC system(!?)

This is because almost all of the actual workers were outsourced to local jobbers that hire spanish speakers (you do the math).

Exactly!

 

[Paris167]

OMG just what we?ve been talking about showed up on my FB feed today. Had to share.
When is this madness going to end? Don?t we see some kind of student loan crisis ?crash? coming our way soon here?
https://www.facebook.com/daveramsey/videos/10155598610975886/

 

[zubs]

https://www.facebook.com/daveramsey/videos/10155598610975886/

Yeah I didn't go to USC cause it's way more expensive than UC system school and I'm a CA resident.

 

[eyephone]

Paris view the CBS video. The guy got replaced for half of his salary and no benefits.

Another guy at Disney had to train his replacement. The CEO of Disney Bob Igor, said having their employees training their replacement was a mistake and he feels sorry for that and apologizes for that.


There you go-yo.

I think H-1 B abuse is also rampant w some of these IT outsourcing companies based in India .  This is when you have qualified non-US PhDs in STEM waiting for years and years whereas the low skilled IT workers from these companies snag all the visas upfront.  One of my friends who is a partner in one of these big 3 /5 accounting firms tells me with the recent crackdown in H-1B abuse, many of these firms are having to actually pay up for a change and it is changing how much they can low-bid on contracts.

My friend firms/companies are sending work to India. A workaround for the visas and to save mula.

For example IT departments are sending programming projects to India, many call centers are overseas, the big firms are sending work to India.

 

[Burn That Belly]

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[Burn That Belly]

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[lnc]

Another fail I see here is that he went to USC for dental school.  It only cost about $50k for UCLA or UCSF, why pay $600k for basically the same stuff (actually its not the same, UCLA are way better.    )

This guy is just not money smart. 

 

[Burn That Belly]

x

 

[Liar Loan]

Another fail I see here is that he went to USC for dental school.  It only cost about $50k for UCLA or UCSF, why pay $600k for basically the same stuff (actually its not the same, UCLA are way better.    )

This guy is just not money smart.

I think USC dental school has a better reputation.

 

[Paris167]

Another fail I see here is that he went to USC for dental school.  It only cost about $50k for UCLA or UCSF, why pay $600k for basically the same stuff (actually its not the same, UCLA are way better.    )

This guy is just not money smart.

I think USC dental school has a better reputation.

You're joking right? lol

I think he went to USC dental school because he had limited options and didn't get into a cheaper school in California. he may have gotten in out of state but chosen not to go.

Oh I'm completely pissed at this guy. Completely irresponsible living beyond his means while we the hard working tax payer gets to pay his bill.

My whole point is we need to STOP backing these student loans. We need to STOP handing out all these education $$s like candy. Some people cannot afford to pay for a $100k to $300k education and America that's OK. Some people cannot afford to fly first class and stay at the Ritz Carlton. So why should everyone have the opportunity to borrow to attend a very expensive college just because they want to on the backs of tax payers?
This all stops when we stop federally insuring these student loans 

 

[eyephone]

Im surprised no one is talking about for profit colleges.

That?s the big time problem.

 

[Paris167]

Im surprised no one is talking about for profit colleges.

That?s the big time problem.

I think if no one can afford to attend these colleges the prices will drop real quick. They keep jacking up the prices because they are getting free money from the government. How the student pays it back to the government is not their problem right now. But as soon as the government stops giving student unlimited funds to do their PhD in German Polka Dancing to make $40k/year upon graduation these colleges (private and public) will change their tune.
Even public college price inflation has been ridiculous. When I went to UCLA I think cost was like $8k/year. All I know is I came out of 6 years (undergrad and a masters) with only $25k loan debt. That would be close to impossible today without crazy scholarships.

 

[Burn That Belly]

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[Burn That Belly]

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