I'll see if I can't post some more details from the original study/report later. For now:
http://www.collegiatetimes.com/news/1/ARTICLE/6859/2006-04-07.html

Quote :

" A report released Wednesday by the U.S. Public Interest Research Group confirms Rupp’s worries. The report, “Paying Back, not Giving Back: Student Debt’s Negative Impact on Public Service Career Opportunities,” found a dramatic increase in the number of college graduates entering the job market with a high debt. [...] Focusing specifically on two public service careers — teachers and social workers — the report concluded that nationwide, 23 percent of public four-year students with a starting teacher salary and 37 percent of public four-year students with a starting social worker salary possess unmanageable debt. [...] According to the report, unmanageable debt entails student loans that “have a measurable and burdensome impact on (graduates’) lives and would like hinder their ability to pay for basic necessities.” “It’s just costing more and more to get a college education. Increases in tuition and fees have been higher than inflation … and we’re not seeing financial aid from the government at all,” Garr said. The report explained that the recent trend of student unmanageable debt stemmed from several factors, including the new 6.8 percent fixed interest rate on Stafford loans, stagnant levels of Pell grants, cuts from Congress in federal funding and a weak job market. “The situation is not getting better, it’s getting worse,” Garr said. [...] “The study only looked at teaching and social working fields, but you can absolutely extrapolate to other fields that aren’t in high paying but are important to communities … We’re concerned that overall college graduates with loan debt are getting priced out of those fields,” Garr said. Garr also raised other questions about the increased dependency on student loans. “Education in society is supposed to be the great equalizer. If we’re pricing out students, we’re failing to make it that,” she said. "

[Edited on April 7, 2006 at 6:51 AM. Reason : .]

4/7/2006 6:50:23 AM

More like Student stupidity on Rise.

4/7/2006 6:58:17 AM

here's the report...I issued a similar press release this week, as part of a nation-wide effort
http://www.uncasg.org/meeting/Paying%20Back%20Final%20Higher%20Ed%20Project.pdf

4/7/2006 9:54:39 AM

From personal observation, attempting to pay for college and minimize student debt also affects the quality of education a student receives. Every semester there are intelligent, motivated students who simply don't have enough hours in the day to work on their studies and hold a part-time or full-time job. These working students have a very difficult time competing with students that do not have additional responsibilities. For some students, the only way to compete on an even playing field is to go into debt.

When my children get to college, I guess I'll have to say what my parents said to me: "Your education is the only inheritance you will see. Make sure you graduate with a degree that you can support yourself with and retire with." A pretty heavy message for someone who's only 19, but thanks to them, I was able to focus on my coursework and graduate debt-free.

Teachers and social workers have a very direct impact on the quality of life for the next generation. It's unfortunate that their positions do not have higher salaries.

4/7/2006 10:16:46 AM

^I wouldn't overlook that lots of students have part time or full time jobs simply to pay down the debt they already racked up. I know my roommates fiance has to work at least 30 hours a week because she built up so much debt from senior year of high school to sophomore year of college by overbuying with credit cards.

Don't confuse said stupidity with being "forced to take on debt"

4/7/2006 10:21:33 AM

I'd be interested to see what % of the debt is split up where. And to those with the "stupidity" arguments ... back it up some facts plz.

4/7/2006 11:26:31 AM

Quote :

"From personal observation, attempting to pay for college and minimize student debt also affects the quality of education a student receives. Every semester there are intelligent, motivated students who simply don't have enough hours in the day to work on their studies and hold a part-time or full-time job. These working students have a very difficult time competing with students that do not have additional responsibilities. For some students, the only way to compete on an even playing field is to go into debt."

BS

4/7/2006 11:48:03 AM

thought this said student debt on rice

4/7/2006 12:14:45 PM

Quote :

"From personal observation, attempting to pay for college and minimize student debt also affects the quality of education a student receives. Every semester there are intelligent, motivated students who simply don't have enough hours in the day to work on their studies and hold a part-time or full-time job. These working students have a very difficult time competing with students that do not have additional responsibilities. For some students, the only way to compete on an even playing field is to go into debt."

truth.

4/7/2006 12:23:03 PM

3.25% is my intrest rate on all my loans is nice, and making the first 36 payments on time drops it to 3%, as stated above intrest rates are higher now then they were 3 years ago, but you should still be able to get something a bit lower

consolidation is key, i think a lot of people dont do this, maybe i am wrong

[Edited on April 7, 2006 at 12:30 PM. Reason : ]

4/7/2006 12:29:44 PM

This is why you dick around in the military for four years, get discharged honorably and have your school payed for (in-state tuition, at least). That way, the only job you'll need is a simple weekend job for some spending money that won't get in the way of your much-needed study time.

However, it is four years you'll never get back and there is the whole war thing to worry about...

4/7/2006 1:17:05 PM

the average college grad in nc is paying over 1/5 of their paycheck on debt for the first couple years

4/7/2006 1:18:07 PM

“have a measurable and burdensome impact on (graduates’) lives and would like hinder their ability to pay for basic necessities."

They should like study English in you know college so like they can get like a good job.

4/7/2006 1:18:25 PM

Budget Tip #1

You don't have to drive a new car.

4/7/2006 1:19:47 PM

Quote :

" "Your education is the only inheritance you will see. Make sure you graduate with a degree that you can support yourself with and retire with.""

Counting on inheritance is a horrible idea anyway. My dad has told me that if nothing goes badly wrong, he'll leave me a very significant amount of money...but I still am investing like it's cool.

Quote :

"This is why you dick around in the military for four years, get discharged honorably and have your school payed for (in-state tuition, at least). That way, the only job you'll need is a simple weekend job for some spending money that won't get in the way of your much-needed study time. However, it is four years you'll never get back and there is the whole war thing to worry about"

Don't join the military for the MGIB. that's a dumbass idea if I ever heard one. If you want to join the military anyway, then yes, the MGIB is the best deal going--but don't sign up for this job just to get college paid for.

4/7/2006 1:24:43 PM

Quote :

"Quote : "From personal observation, attempting to pay for college and minimize student debt also affects the quality of education a student receives. Every semester there are intelligent, motivated students who simply don't have enough hours in the day to work on their studies and hold a part-time or full-time job. These working students have a very difficult time competing with students that do not have additional responsibilities. For some students, the only way to compete on an even playing field is to go into debt." BS"

how is that BS?

Quote :

"This is why you dick around in the military for four years, get discharged honorably and have your school payed for (in-state tuition, at least). That way, the only job you'll need is a simple weekend job for some spending money that won't get in the way of your much-needed study time. However, it is four years you'll never get back and there is the whole war thing to worry about... "

It isn't always guaranteed that you would just have to serve 4 years. Both of my neighbors were in the army and had difficulties getting out when they wanted to.

Quote :

"Budget Tip #1 You don't have to drive a new car."

some of the best advice in this thread

4/7/2006 2:22:20 PM

It should be common sense

4/7/2006 2:25:33 PM

Quote :

"It isn't always guaranteed that you would just have to serve 4 years. Both of my neighbors were in the army and had difficulties getting out when they wanted to."

This is a good point, but mostly I've only seen this problem in the Army. The Air Force is doing its good old "force reshaping," so a lot of people in overmanned jobs are not guaranteed that job will still be around when their enlistment is up.

4/7/2006 2:44:23 PM

Quote :

"Don't join the military for the MGIB. that's a dumbass idea if I ever heard one. If you want to join the military anyway, then yes, the MGIB is the best deal going--but don't sign up for this job just to get college paid for."

Why is this a dumbass idea? Plenty of people join the military to get school paid for; this is why they offer it as an incentive to join. If someone wanted to join the military just to join, they'd probably want to stay in until they retire, thus having no use for the MGIB. Yeah, you'd have to make some sacrifices, but if you can put up with the BS and get out with an honorable discharge, then go for it and get some money for school.

4/7/2006 9:50:38 PM

honestly i blame republicans for my life being shittier since 2000

4/7/2006 9:51:43 PM

4/7/2006 10:18:13 PM

Quote :

" If someone wanted to join the military just to join, they'd probably want to stay in until they retire, thus having no use for the MGIB."

not true on either count.

hell, i'm an example of that. I'm thinking about making it a career now, but when I signed up, I had no intention whatsoever of making it a career. Tons of people join the military just to join, without have any intention of staying 20+ years.

furthermore, I don't think I even knew what the MGIB entailed until after I had started active duty and got the pitch for contributing to it (i mean, i'd heard of it, but didn't really know anything about it).

now i'm about to finish paying into the MGIB fund, and am checking to see if there is an option to pay extra for an increased benefit (beyond the standard $40k or whatever). I'll probably end up using however much I can get (for either law school or an MPA, and/or aviation ratings).

i think the Marines might be a little different, though. Not many people join the USMC to get money for college...there's no reason to. The other branches offer the same benefits, so why make things harder on yourself if you just want the MGIB, etc?

4/8/2006 2:43:39 AM