In Hard Times, Lured Into Trade School and Debt

[LiberalNation]

got to be careful out there. Lot's of schools offering medical coding/transcriptionist and the kids have no clue what a competitive industry they are getting into. Read few jobs.

in-hard-times-lured-into-trade-school-and-debt: Personal Finance News from Yahoo! Finance

One fast–growing American industry has become a conspicuous beneficiary of the recession: for–profit colleges and trade schools.

At institutions that train students for careers in areas like health care, computers and food service, enrollments are soaring as people anxious about weak job prospects borrow aggressively to pay tuition that can exceed $30,000 a year.

But the profits have come at substantial taxpayer expense while often delivering dubious benefits to students, according to academics and advocates for greater oversight of financial aid. Critics say many schools exaggerate the value of their degree programs, selling young people on dreams of middle–class wages while setting them up for default on untenable debts, low–wage work and a struggle to avoid poverty. And the schools are harvesting growing federal student aid dollars, including Pell grants awarded to low–income students.

"If these programs keep growing, you're going to wind up with more and more students who are graduating and can't find meaningful employment," said Rafael I. Pardo, a professor at Seattle University School of Law and an expert on educational finance. "They can't generate income needed to pay back their loans, and they're going to end up in financial distress."
...

[SassyLady]

got to be careful out there. Lot's of schools offering medical coding/transcriptionist and the kids have no clue what a competitive industry they are getting into. Read few jobs.

in-hard-times-lured-into-trade-school-and-debt: Personal Finance News from Yahoo! Finance

One fast–growing American industry has become a conspicuous beneficiary of the recession: for–profit colleges and trade schools.

At institutions that train students for careers in areas like health care, computers and food service, enrollments are soaring as people anxious about weak job prospects borrow aggressively to pay tuition that can exceed $30,000 a year.

But the profits have come at substantial taxpayer expense while often delivering dubious benefits to students, according to academics and advocates for greater oversight of financial aid. Critics say many schools exaggerate the value of their degree programs, selling young people on dreams of middle–class wages while setting them up for default on untenable debts, low–wage work and a struggle to avoid poverty. And the schools are harvesting growing federal student aid dollars, including Pell grants awarded to low–income students.

"If these programs keep growing, you're going to wind up with more and more students who are graduating and can't find meaningful employment," said Rafael I. Pardo, a professor at Seattle University School of Law and an expert on educational finance. "They can't generate income needed to pay back their loans, and they're going to end up in financial distress."
...

So Libby.......what is the alternative? Do you have a better plan?

I took out loans, am still paying on them, and I didn't walk off the stage with my diploma into a job. I still had to get out there and compete with other college grads for the same jobs. And, guess what? Sometimes an individual without any degree got the job.

Do you advocate that these people do nothing to get educated because the job market is limited?

Sometimes I just don't get your short-sighted reasoning.

[LiberalNation]

I suggest they think it thru, go to public instead of exspesive for profit schools and be realistic about their job chances afterward.

[Trigg]

I suggest they think it thru, go to public instead of exspesive for profit schools and be realistic about their job chances afterward.

True, they should think it though and realize that anything that looks to good to be true probably is.

Also, EVERY SCHOOL OUT THERE IS FOR PROFIT, NONE are giving degrees to people out of the goodness of their heart.

[LiberalNation]

braecha or however you spell it in kentucky just has you work instead of paying tuition.

[Trigg]

braecha or however you spell it in kentucky just has you work instead of paying tuition.

They have students working off their tuition? Basically your working for FREE for so many hours until your bill is paid off, right?

Do you see that your tuition isn't free? The school is still for profit, they're just getting the payment through work instead of money. Kind of like the military, in some instances they will pay for your education, but you have to give them so many years of service.

[LiberalNation]

you still get like half your paycheck for living exspenses.

[Trigg]

you still get like half your paycheck for living exspenses.

Before you sign up for this "great deal" look into how many years you would be working for free versus simply paying off a traditional student loan.

Once again if it sounds to good to be true it probably is.

The school isn't going to sign up for a loosing deal. Unless it's run by Bill Gates, the school will need to make it's money back somehow.

[LiberalNation]

they are actually well know and very selective about who they take.

[SassyLady]

I suggest they think it thru, go to public instead of exspesive for profit schools and be realistic about their job chances afterward.

So, you want the taxpayers to pay for their higher education instead them paying for their own higher education?

[LiberalNation]

sure, I think higher education should be free as in some other industrialized nations.

[SassyLady]

sure, I think higher education should be free as in some other industrialized nations.

But it isn't free Libbs.....that money is from the taxpayers. Why would you think it is free? Baffling......

[avatar4321]

sure, I think higher education should be free as in some other industrialized nations.

You need to realize that people dont need degrees to be educated. In fact, that fallacy leads to less educated people. People just need to be active in thinking, reading, and doing things to be educated.

Im getting a fabulous education right now while im working and it's absolutely free. It's called the library.

[LiberalNation]

I prefer used book stores, don't hafta take them back thataway.

[avatar4321]

I prefer used book stores, don't hafta take them back thataway.

Ive done that too but unfortunately books take up space and i dont always have tons.