Students have $1.6 trillion in “buyers regret debt”.
Here’s an extract:
A new poll of nearly a quarter-million Americans has found fully two-thirds of them have buyer’s remorse about their diploma, their major and the higher education experience in general. How much longer do you think folks are going to keep paying such fees that produce such dissatisfaction and unhappiness?
Not surprisingly perhaps, the new survey found the top regret was incurring immense debts for that higher education, a debt whose payments run on for many years, causing postponed marriages and families.
An estimated 70 percent of college graduates this year finished school with loans to repay averaging $33,000.
Even older baby boomers are incurring college debts as they return to school for training in new areas not affected by automation and other labor-saving methods. The survey by PayScale found that even Americans over age 62 had some $86 billion in unpaid debts, theirs or their childrens’.
The second largest graduate regret was their choice of college majors. Sen. Marco Rubio has noted in speeches that the occupational demand for Greek philosophers has not been good for about 2,000 years.
Three-quarters of humanities graduates expressed regrets over their choice of study areas, tied to their difficulty finding employment in those areas at higher paying jobs enabling them to pay down the debt.
Most satisfied were majors in math, science, tech and especially engineering. More than a third of computer science grads and four-in-ten engineering grads had no regrets about their area choice of studies.
Interestingly though, teachers expressed the least regrets over their career choices, second least to engineers, despite the chronically low pay of such educators.
https://hotair.com/archives/2019/06/28/tuition-fears-grow-with-tuition-debts/
https://hotair.com/archives/2019/06/28/tuition-fears-grow-with-tuition-debts/