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Discussion Starter #1 (Edited)
Debt is growing mostly because the cost of college is growing. This chart from the Center for College Affordability and Productivity shows how tuition has risen meteorically: Almost twice as fast as health care costs since 1980.




student loan debt is likely to continue exploding unless the underlying tuition problem is fixed.





Student debt is the only kind of household debt that rose during the recession. It's now the second-largest consumer debt category after mortgages.





Among households headed by people under 35, the figure is 40%.





One in five households in America have outstanding student debt, twice as large a share as in 1989.




now Canada

http://www.debt101.ca/news/how-big-is-canadas-student-debt-today

Australia and japan

http://www.tuition.io/blog/2013/06/student-loans-around-the-globe/

Anyone of u feel this topic is close to his heart or believe this can or will be the next crisis?

im also an MBA student but not in debt (i was lucky)
 

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The cost of education is outrageous today. And I think you really have a good point that student loans could be an economic crisis. The people with housing loans really got hit so why not people with loans for their education?
 

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I made it through university without having to pay a single cent. In fact, the Spanish state saw it fit to provide me with a total of 20,000+ euros through five years, free of interest, never to be returned.

So what's the deal? After all, if Spain can do it without going bankr... oh wait.
 

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I still have about £12,000 worth of student debt from my first degree (7 years ago), but you don't start paying it back until you earn a decent amount in the UK (a percentage over £21,000 a year). Since I've done two more degrees since I've not earned enough to pay it down :tape: But I don't see it as a debt the same way my credit card is :shrug:
 

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I avoided paying it back by escaping from UK, I honestly don't think they'll ever get me here where I'm currently living.
 

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Aye. The Student loans company has informed me I will be paying back my 20k debt till I'm buried ten feet under. Possibly after that as well.
 

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Lurrrkin'
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It gets written off when you reach 50 :p
Hm, never bothered to read the terms and conditions, just thought it would be 65. Figured I wouldn't make it that far.

I wouldn't call it a crisis in either case. Just something students need to deal with while earning 10k less than those that cleverly decided not to gain further qualifications.
 

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I think that there is a logic of student debt increasing while during the recession: people may stay in school longer or study more if there are no jobs available.

That being said, I do think that tuition is expensive in many parts in the world. It also creates a type of class-system where people with money pay to get their kids into good and prestigious school who in turn send their children in similar schools. What I like about Finland is that studying is free and the government pays you 450e per month for approximately 5-6 years to study :yeah:.
 

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Yeah I am pissed about this student loan shit, in debt before I even have a full time job and not even left education. Pretty pathetic that the best way to pursue your ideal job also means you have to go in debt..
 

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It's made out to be a bigger deal than it actually is in the UK. Here you don't start paying back your loan until you're earning over £21,000 (increased from £15,000 when I went to uni), and even then the repayments are small... like £30 a month if you're earning £25k. Student loan debt also has no influence on your credit or when borrowing, it's just an extra tax basically.

I'm currently paying £30 a month as minimum payment on my £1500 credit card balance, to put it in perspective.
 

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I think it was a really good decision to come to Germany to study and not in the USA.
Here in Germany you pay almost nothing for the tuition fees
 

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I avoided paying it back by escaping from UK, I honestly don't think they'll ever get me here where I'm currently living.
On that island with Sapeod? :hug:
 

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I made it through university without having to pay a single cent. In fact, the Spanish state saw it fit to provide me with a total of 20,000+ euros through five years, free of interest, never to be returned.

So what's the deal? After all, if Spain can do it without going bankr... oh wait.
:haha: :lol: :rolls: I'm sorry I'm not laughing at the economic problems in Spain, but that way you wrote that was funny!
 

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I avoided paying it back by escaping from UK, I honestly don't think they'll ever get me here where I'm currently living.
Your ambiguity is beginning to intrigue me.
 

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