Generation Y and Z Debt

Discussion in 'Off-Topic' started by Bobber, Jul 16, 2019.

  1. madguy30

    madguy30 Well-Known Member

    Nov 15, 2011
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    Some parts of this are the ever growing trends of people thinking they need to do EVERYTHING and that's doubled up by those that post their wonderful lives on social media.
     
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  2. dmclone

    dmclone Well-Known Member

    Oct 20, 2006
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    Easy college loans.
     
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  3. Cyclonepride

    Cyclonepride Thought Police
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    I think how you define things is important to your mental state. I have personally never had a crisis, because I don't mentally define a bad situation in those terms. I've been in plenty of bad situations, but I tend to minimize the importance of short term situations.
     
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  4. Trice

    Trice Well-Known Member

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    These numbers are from memory so take them with a grain of salt, but something like 50-60% of ISU's budget in the early 80s came from state appropriations. Now that's down closer to 20% and may have even slipped into the teens. And Iowa's universities remain relatively affordable...the situation in other states is much bleaker.
     
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  5. LincolnWay187

    LincolnWay187 Well-Known Member

    Sep 24, 2012
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    Completely agree that's the cause, but how do these schools just the price increases? I know the states fund less of a portion than they used to...
     
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  6. Cyched

    Cyched Well-Known Member

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    Parents should prioritize retirement before college and let the chips fall after that, but I agree with the sentiment.

    My parents helped me with college and I’m grateful to them for that. I’ll be doing the same for my kids as well
     
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  7. flycy

    flycy Active Member

    Jul 17, 2008
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    The unintended consequences of government aid and loans. Colleges will always charge what students can afford. It doesn't matter if it is all borrowed money to the school.
     
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  8. Bobber

    Bobber Well-Known Member

    Apr 12, 2006
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    Agree. Same here.

    A lot of people can't however(or won't for selfish reasons...) In those cases think the kids should think of the other options. We all make our own choices and I detest the "we are victims" mentality which seems so prevalent today.
     
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  9. cyfan21

    cyfan21 Active Member

    Aug 24, 2010
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    [​IMG]
    [​IMG]
    I imagine it will be something like this :D
     
  10. CascadeClone

    CascadeClone Well-Known Member

    Oct 24, 2009
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    Colleges have it figured out. People are willing to pay $15-20k per year for a 4-year degree. The government tried to help pay for part of it, and the colleges realized they could bank the government money and STILL get $15-20k per year from the customer (students).

    The two things that increase in price fastest (medical, education) are the two things the government throws a lot of money at. And the vendors are really good at gaming the system to maximize their take.
     
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  11. 247cy

    247cy Well-Known Member

    Nov 14, 2006
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    The rich rule over the poor, and the borrower is slave to the lender.
     
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  12. KnappShack

    KnappShack Well-Known Member

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    This seems to be the cause. Loans are the symptom
     
  13. LincolnWay187

    LincolnWay187 Well-Known Member

    Sep 24, 2012
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    So where did that extra State money go to? It's apparently not to the teachers, or so I hear. The college students are subsidizing something they didn't used to.
     
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  14. Cyclonepride

    Cyclonepride Thought Police
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    I know that's a common argument to defend the increased expense, but I'd be interested to see how much of that now comes from the federal government rather than the states. This may not show the information that I want exactly, but it does show that the federal government is a huge source of funds right now.

    https://infogram.com/following-federal-dollars-an-in-depth-analysis-of-research-spending-in-higher-ed-1hzj4o570k5p2pw?live
     
  15. ArgentCy

    ArgentCy Well-Known Member
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    Jan 13, 2010
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    Everybody should and would say it's embarrassing to rely on parents for money at 27 freaking years old. At that point it should be embarrassing for the parents as well.

    The real question is what age would Boomers say it should be embarrassing for kids to still rely on their parents? I'm guessing that would be 21-22 years old at most.
     
  16. Sigmapolis

    Sigmapolis Well-Known Member
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    Aug 10, 2011
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    If that were the only issue, then private school tuition should not be going up.

    It is. A lot.

    I think that is probably one important issue of a multitude of factors.

    Mono-causality is usually wrong and always boring.
     
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  17. Trice

    Trice Well-Known Member

    Apr 1, 2010
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    There are a lot of factors and I didn't meant to suggest the current state of affairs is entirely a result of decreased state funding. But no doubt it plays a huge role and just as importantly has driven a lot of behaviors and decisions on the part of universities in that time.

    As for private schools, yes their tuition has increased as well. But studying private school tuition is meaningless without paying attention to the discount rate, and for most schools that is way up as well. So it's not quite what it seems for private schools.
     
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  18. farminclone

    farminclone Well-Known Member

    Nov 16, 2009
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    I'm a millennial but my opinion is relying on parents through college is acceptable, and parents helping kids through college is acceptable, but after graduation you are on your own.
     
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