Gifted Bulletin Board

Welcome to the Gifted Issues Discussion Forum.

We invite you to share your experiences and to post information about advocacy, research and other gifted education issues on this free public discussion forum.
CLICK HERE to Log In. Click here for the Board Rules.

Links
DITD Logo

Learn about the Davidson Academy’s online campus for profoundly gifted students living anywhere in the U.S.

The Davidson Institute for Talent Development is a national nonprofit dedicated to supporting profoundly gifted students through the following programs:

  • Davidson Fellows Scholarship
  • Davidson Young Scholars
  • Davidson Academy
  • THINK Summer Institute
  • DITD FaceBook   DITD Twitter   DITD YouTube
    The Davidson Institute is on Facebook, Twitter and YouTube!

    How gifted-friendly is
    your state?

    Subscribe to the Davidson Institute's eNews-Update

    Who's Online
    0 registered (), 0 Guests and 233 Spiders online.
    Key: Admin, Global Mod, Mod
    Newest Members
    sreedevi9, agen, Postini, Phaedenit, babyrazia
    10900 Registered Users
    January
    Su M Tu W Th F Sa
    1 2
    3 4 5 6 7 8 9
    10 11 12 13 14 15 16
    17 18 19 20 21 22 23
    24 25 26 27 28 29 30
    31
    Page 33 of 38 < 1 2 ... 31 32 33 34 35 37 38 >
    Topic Options
    #159128 - 06/04/13 05:36 AM Re: more on "Tiger Mom"... [Re: deacongirl]
    Bostonian Offline
    Member

    Registered: 02/14/10
    Posts: 2601
    Loc: MA
    The debt numbers for most college students don't look bad to me:
    http://www.asa.org/policy/resources/stats/

    Quote:

    •As of Quarter 1 in 2012, the average student loan balance for all age groups is $24,301. About one-quarter of borrowers owe more than $28,000; 10% of borrowers owe more than $54,000; 3% owe more than $100,000; and less than 1%, or 167,000 people, owe more than $200,000. (Source: FRBNY)

    •Among all bachelor's degree recipients, median debt was about $7,960 at public four-year institutions, $17,040 at private not-for-profit four-year institutions, and $31,190 at for-profit institutions. (Source: College Board)

    According to http://www.bizjournals.com/bizjournals/o...se-without.html college graduates earn about $20K more per year than high school graduates, so most college graduates should be able to amortize their debt in a few years. The lifetime earnings differential is in the hundreds of thousands of dollars.

    I still think college is too expensive, but that is based on total spending by parents, taxpayers, and students, not looking at student debt alone.

    _________________________
    "To see what is in front of one's nose needs a constant struggle." - George Orwell

    Top
    #159133 - 06/04/13 06:35 AM Re: more on "Tiger Mom"... [Re: deacongirl]
    Dude Offline
    Member

    Registered: 10/04/11
    Posts: 2856
    Bostonian: The missing piece of the data is how much the parents have gone into hock. This only accounts for student debt.

    Top
    #159136 - 06/04/13 06:53 AM Re: more on "Tiger Mom"... [Re: deacongirl]
    HowlerKarma Offline
    Member

    Registered: 02/05/11
    Posts: 5181
    Doesn't that also assume that the input value there for "income as a high school graduate" is equal to "living wages" as well?

    Presuming that HSGI + 20K = ability to make $1000/mo payments on student loans is a bit of a stretch for me personally.

    That is particularly so when one considers that not even disability (through accidental injury or illness) or failure to complete a degree-- both of which nullify the earning power of a college diploma-- are sufficient to discharge the debt.

    This also fails to account for other forms of debt. As Dude notes, parent loans have been rising even faster than traditionally backed student loan burdens have. Credit card debt has also risen sharply in this cohort (something that I find so sad and astonishing that I simply lack words).
    _________________________
    Schrödinger's cat walks into a bar. And doesn't.

    Top
    #159146 - 06/04/13 07:39 AM Re: more on "Tiger Mom"... [Re: deacongirl]
    ultramarina Offline
    Member

    Registered: 08/24/10
    Posts: 3428
    The drop-out rate (46% fail to graduate within 6 years) is the really scary part, and IMO, is where the chipper "Everyone can go to college!" line really falls down and start to look downright irresponsible.

    http://politic365.com/2013/01/24/college-dropout-rate-called-national-crisis-in-new-report/

    Then there are all the creepy for-profit schools with stratospheric drop-out rates. These places are the educational equivalent of payday loans and rent-to-own. I knew someone who needed a BA to advance at work and go up a pay grade. She got one from a sketchy, weird diploma mill that turned out to not be fully accredited. Money down the drain.

    Top
    #159147 - 06/04/13 07:40 AM Re: more on "Tiger Mom"... [Re: deacongirl]
    ultramarina Offline
    Member

    Registered: 08/24/10
    Posts: 3428
    Although it's fair to note that "some college" is better than HS diploma for earning power, though not a lot better.

    Top
    #159153 - 06/04/13 08:44 AM Re: more on "Tiger Mom"... [Re: ultramarina]
    JonLaw Offline
    Member

    Registered: 07/29/11
    Posts: 2007
    Loc: The Sub-Tropics
    Originally Posted By: ultramarina
    The drop-out rate (46% fail to graduate within 6 years) is the really scary part, and IMO, is where the chipper "Everyone can go to college!" line really falls down and start to look downright irresponsible.


    Why is it irresponsible?

    If you have the power to originate a massive amount of debt, aren't you obligated to your shareholders to lard up as many people as possible with non-dischargeable debt?

    I mean, the megabanks aren't charities.

    They have a business to run.

    Top
    #159154 - 06/04/13 08:46 AM Re: more on "Tiger Mom"... [Re: Bostonian]
    Val Offline
    Member

    Registered: 09/01/07
    Posts: 3290
    Loc: California
    Originally Posted By: Bostonian
    The debt numbers for most college students don't look bad to me:
    http://www.asa.org/policy/resources/stats/

    [quote]
    •As of Quarter 1 in 2012, the average student loan balance for all age groups is $24,301. About one-quarter of borrowers owe more than $28,000; 10% of borrowers owe more than $54,000; 3% owe more than $100,000; and less than 1%, or 167,000 people, owe more than $200,000.




    Personally, I find the numbers on that page to be very bad.

    For example, the numbers you quoted are an average for ALL age groups. According to that same site, the 30-39 age group has $307 billion in student loans, and the under 30s have $292 billion. So that's 60% of a one-trillion-dollar debt being carried by people under 40. And remember that some of these loans balloon because people can't even afford to pay the interest each month.

    And the implication is that more than 25% of the under 40s have more than your $28K in debt.

    Sounds pretty scary to me.

    Originally Posted By: Bostonian's link
    As of October 2012, the average amount of student loan debt for the Class of 2011 was $26,600, a 5 percent increase from approximately $25,350 in 2010.


    I wonder how much that number went up for members of the class of 2013.

    The site also says that 14% of all borrowers are behind on at least one loan (that's 5.4 million people).

    It also says that ~37% of federal borrowers between 2004 and 2009 managed to make timely payments without postponing payments or becoming delinquent. How many of that 37% were living on the edge but managing to make payments? How many had to choose between something important (high quality food, turning the heat on, etc.) and making a loan payment? How many had private loans that they couldn't keep up with?

    Again, sounds pretty scary to me.

    All in all, these numbers (and there are more on that page) sound big enough to have a serious effect on the economy.

    Top
    #159157 - 06/04/13 08:53 AM Re: more on "Tiger Mom"... [Re: Val]
    JonLaw Offline
    Member

    Registered: 07/29/11
    Posts: 2007
    Loc: The Sub-Tropics
    Originally Posted By: Val
    All in all, these numbers (and there are more on that page) sound big enough to have a serious effect on the economy.


    They *do* have a serious effect.

    They're called "debt serfs".

    Ideally, you want to own as many as possible because they generate passive income over their lifetimes.

    Top
    #159165 - 06/04/13 10:20 AM Re: more on "Tiger Mom"... [Re: deacongirl]
    HowlerKarma Offline
    Member

    Registered: 02/05/11
    Posts: 5181
    @Jonlaw...

    {SNORK}
    _________________________
    Schrödinger's cat walks into a bar. And doesn't.

    Top
    #159173 - 06/04/13 11:11 AM Re: more on "Tiger Mom"... [Re: ultramarina]
    madeinuk Offline
    Member

    Registered: 03/18/13
    Posts: 1450
    Loc: NJ
    Originally Posted By: ultramarina
    The drop-out rate (46% fail to graduate within 6 years) is the really scary part, and IMO, is where the chipper "Everyone can go to college!" line really falls down and start to look downright irresponsible.

    http://politic365.com/2013/01/24/college-dropout-rate-called-national-crisis-in-new-report/

    Then there are all the creepy for-profit schools with stratospheric drop-out rates. These places are the educational equivalent of payday loans and rent-to-own. I knew someone who needed a BA to advance at work and go up a pay grade. She got one from a sketchy, weird diploma mill that turned out to not be fully accredited. Money down the drain.


    I hope there is a special place in Hell for those that set people up that don't have the smarts, maturity or executive functioning to be successful in college just so they can rack up the interest payments.

    The mainstream kind of 'never thinking beyond the first good looking move' liberals [read the stupid ones] will hate me for saying this but college is not for everyone. It is supposed to be a place where the brighter people go to delve more deeply into Knowledge. It shouldn't be a place where EVERYONE has to go just to get a halfway decent shot at a job.
    _________________________
    Become what you are

    Top
    Page 33 of 38 < 1 2 ... 31 32 33 34 35 37 38 >


    Moderator:  M-Moderator 
    Recent Posts
    Ivy League Admissions.
    by philly103
    Yesterday at 05:09 PM
    College Board discontinues SAT subject exams
    by Wren
    Yesterday at 09:17 AM
    Open college classes to everyone
    by cricket3
    Yesterday at 06:58 AM
    Flipped Classroom
    by aeh
    01/18/21 02:15 PM
    Counting to 10
    by aquinas
    01/18/21 09:04 AM
    Davidson Institute Twitter