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Schools

Small RANT- Well, Actually, a BIG Rant.

Parents- If your child can't attend college without loans, you need another plan

Our state and country are not only BROKE, but they are in debt.  Even if your news sources are strictly Bravo TV or the Comedy Channel…you know that.  And while we don’t know what the federal and state governments waste our money on…we know it is more than they take in.  There are between 55000 and 77000 VACANT buildings that cost about 8 billion a year to maintain (government doesn’t inventory them), there is the light rail to nowhere, the k-12 waste, the military waste, and the FRAUD…oh the fraud, in healthcare, education, and housing.

And that is why it upsets me, as a taxpayer to have the push for EVERYONE to go to college.  The 42 year old Pell Grant program, which costs over 35 billion a year is an example of poor oversight.  There is no accountability…and only 40% of those receiving it ever get a 4 year degree.  Here in CA, 1.7 billion goes to Cal Grant recipients…again, with NO accountability.  No one keeps track of how many actually graduate, but considering that 40% of all 4-year college students end up NOT graduating, it would be safe to say that money spent for drop-outs is wasted.

So lets talk about loans…you know where I am going with this…The government guarantees loans, with no collateral, and no ability of the debtor to pay back.  1.3 trillion outstanding to date.  So when the majority of 4-year college students fail to graduate in 4 years, and are holding the bag for these loans, and the government comes in and makes noises about forgiving them…guess who will be paying for them!?!?  54% of all outstanding student debt is not being paid on currently….Loans are in deferment, delinquent or in default.  But it’s someone elses problem, right???

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We the taxpayer are on the hook for all the whims of our students.  I don’t buy the argument that a well educated populous outweighs the huge debt burden.  I  agree that increased education IS for everybody, but student debt is not good for ANY undergrad or soon to be retiring parents….and I am TIRED of being taxed because of the irresponsibility of others.  

I am a college planner, and make my living matching students to the best fit colleges so the student can graduate in 4 years marketable and debt free.  When I meet a clueless and unmotivated student whose parent is pushing them to “go to college”, and the family is accepting any form of government subsidy to pay for college, I look at them as liability to MY future and that of MY family.  We need to spend our tax dollars wisely, and while we don’t have control of the fat cats in government, we DO have control over checkbooks.  If you don't have the money for college, and are unwilling to do the steps to get great grades and choose an affordable school, then please don't look to the taxpayer- we are busted!

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GetCollegeFunding is a non profit admissions and financial aid counseling organization.  Check us out for free webinars and reports on tools and resources on how to graduate from college DEBT-FREE.  www.GetCollegeFunding.org

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