Sen. Elizabeth Warren, "It's obscene!"

[Playinghardball]

[SammyWinstonJack]

1. Disgusting.

[MrMickeysMom]

2. Finally... a post that addresses the issues...

Of debt, whether it's Wall Street demanding $700 billion dollars (holding a gun to the taxpayer's collective heads) or lobbying Capital Hill's committees dedicated to never letting a fair piece of finance legislation, it's nationalized. The debt is ALWAYS nationalized.

The profit??? As the Department of Education, which has become dependent on student loan interest. Say that once again slowly... The Department of Education depends on student loan interest.

Students are charged 6.8 percent interest for unsubsidized loans, which constitute most loans. Parents who take out loans to pay for some of their childrens’ education pay 7.2 percent. In 2013, the interest rate cap on federally-subsidized student loans was set to expire. Long set at 3.4 percent, the expiration of the law that set the cap meant the interest rate would jump to 6.8 percent — the same as the rate on unsubsidized loans.

What was it that banks charge each other to borrow money, now???

Oh! Yeah... Zero percent.

[Rockyj]

20. PLEASE read...

http://www.truthdig.com/report/item/the_age_of_the_demagogues_20151129

[passiveporcupine]

3. But but but

They need more money for wars!

[Moostache]

4. My daughter just started getting acceptance letters for college...

The costs of a single year at some of the schools she was interested in can run over $60,000 a year - TUITION!! Room and board can be over and above THAT amount. Its not just obscene...it is criminal and immoral.

My job affords me the opportunity to work and interact with foreign nationals on a routine basis....French, British, Turkish, Chinese, Canadian....one day this past fall I had lunch with several of them and was left trying to defend American stupidity on education at all levels, but they were all aghast at the idea that a country would PUNISH its highest achiever and most ambitions citizens by making college unaffordable.

I had nothing then as I have nothing now....

[angrychair]

7. I would humbly suggest

As I have already started planning with my child, sending your daughter to Germany or some other nation with reduced or near-free cost. Once she has lived in Europe for a year, she could likely attend almost any EU-based university for greatly reduced to near zero cost of attendance. Regardless, it will be way less than $60,000+ a year and with an education that is better than most universities in the United States.

No matter, I refuse to push my children into a lifetime of servicing debt and fighting to avoid default.

[sorechasm]

24. Sounds like another 'Brain Drain' in the works

I certainly don't blame you. This sounds like a great idea, but it could be devastating trend to America's future which is reliant upon the innovation of young minds.

I wish Senator Warren were running for President. She not only understands the issues that impacts Americans the most, she can also explain the solution in a way that compels the public to support her.

[world wide wally]

5. Thomas Jefferson would be thrilled

Sarcasm, of course

[Live and Learn]

6. But "WE CAN'T" do anything about it. Unicorns, pink ponies and all that stuff. nt

[WHEN CRABS ROAR]

36. Has anyone considered a real nation wide boycott

as a protest, something really serious.

[Live and Learn]

46. I think we are trying to get Bernie elected. If that fails, boycotts may be next. nt

[BeanMusical]

8. Kick and R

[pangaia]

9. WHAT costs so much?

I really have no idea.
I taught at the university level for 20 some years.And I sure never got rich

[Srkdqltr]

10. Football

[pangaia]

11. Well, there is that. but most big time football programs actually generate a profit,

so I am told... could easily be wrong...

[druidity33]

16. I actually do think you're wrong there...

I'm not the internet savvy person that can bring up studies willy nilly, but i recall reading about how Major sports programs rarely break even in college sports.

[ProfessorGAC]

26. Sort Of

The big programs do make money. But, there are lots of schools where the football program turns just enough profit to pay for the other sports which do not make revenue, so the athletic department as a whole is a cost center, not a profit center.

You're statement that they rarely break even is correct, but that relates to entire athletic budgets, not just football. Football is a huge money maker for many schools, and a decent money maker for others, but when you start adding in the costs for baseball, women's softball, volleyball, track and field, cross country, etc., the excess gets used up pretty fast.

[pangaia]

28. They should put the money into the arts.

Especially music. The world would be a much saner place.

[ProfessorGAC]

29. No Objection From Me

I've been a musician for 55 years. But, our culture is what our culture is at this point.

[pangaia]

33. Bravo!

How many oboe players go around killing people.. OR voting for republicans, for that matter..?
Of course, oboists are a bit weird, I will admit. All that time spent in the weeds...uh.. reeds...

[ProfessorGAC]

35. Oboe Players! Pffft!

They think they're so big! Just cuz they have 2 reeds!

Let's see 'em play a chord!

[FairWinds]

40. Sorry Mr. Prof, but you are incorrect . .

80% of the football programs at the 120 top-tier schools lose money.

http://www.ethosreview.org/intellectual-spaces/is-college-football-profitable/

Sorry for the thread drift . .

[druidity33]

44. an excellent article...

I'm not sure this is the one i originally read, but it's worth it for the depth that it explores (finance wise).

Thanks for hunting up the link...

[ProfessorGAC]

47. Good Find, But. . .

. . .i said many schools make money off football. 20% of 120 is 24. That's many.

I didn't disagree that football is mostly a money pit. Just said that many do make money. And i clearly stated the BIG programs do make money, as this article confirms.

So, not sure where i was wrong and i'm not sure how we're disagreeing on this.

[FairWinds]

50. You write "many schools" . .

but your 120 figure omits all of Division II and Division III college and university football programs.
Not to mention community colleges, etc.

The percentage of schools that lose BIG money on football is WAY more than 20%

And how about that Elizabeth Warren? Her points about the Dept. of Ed profiteering
from student loans are spot on.

[ProfessorGAC]

51. Read The Rest Of My Posts

I'm ok with cutting the college emphasis on sports. I don't even like college football. The school from which i got my undergrad degree never had a football team. Neither did 2 of the 3 schools from which i obtained advanced degrees.

So, i've got no dog in the hunt.

Also, look at the title of my first post on this topic. It's titled "Sort Of"

Meaning that the post to which i replied in which it was stated that football programs are a loss center, is essentially true, but not completely.

Not sure what your objection is with me.

[Dont call me Shirley]

42. The bookies are running a huge profit.

[Indydem]

12. Ok. So let's make it 0%.

Losers who take out $85,000 in student loans to get a degree in the social sciences are still not going to pay back their loans.

They are still going to lament how much it costs to get a degree in underwater basket weaving.

They are still going to graduate with a useless degree, incapable of finding a good job that can support a family.

The interest on student loans is the least of our worries.

[MadLinguist]

13. so, Indydem, what was your wonderful degree in, economics? rhetorics?

or just plain ol' fuqwadry? You think student loans are a joke? It drives a lot of our problems.
Why go round dividing folks and calling people losers, especially when you don't know what the fuq you talking about?

[davidpdx]

23. I doubt you'll get an answer from that one

I have a triple-crown in degrees a bachelor's in communications, master's in business, and doctorate in business. I certainly don't regret doing it given my student loans are six figures. So much for the underwater basket weaving theory.

[Aldo Leopold]

14. No education is a waste

And I mean that both ways.

[druidity33]

17. Ugh... really? You're on my side? Damn.... nt.

[HughBeaumont]

49. Nope.

One of them "Tent's WAY Too Big" Democrats.

[SoapBox]

19. Damnit! Those damn colleges offering Underwater Basket Weaving!

And the stupid students take the classes...because they are offered!

The nerve!

[Fairgo]

22. That you pick the social sciences for your barnyard riposte

is quite telling. You probably meant to shit on the humanities and missed your squat. The social sciences, at least in a healthy civilisation, provide real and immediate solutions to complex problems of the human experience. I am sorry that you are so dismissive of the intellectual pursuits that gave us, and sustain, true democracy.

[frylock]

30. What's your take on welfare queens and latte liberals?

[noiretextatique]

31. +1000

[HughBeaumont]

48. Pssssssssssssst . . . .

Not exactly an economic progressive we're dealing with here . . . not really progressive on other matters either.

[noiretextatique]

32. Yep...let's do just that

In fact, why don't we actually pay for tuition instead making billions from students, you know, the future of the country.

[pangaia]

34. Your snide remark about underwater basket weaving

is some 60 years behind the times...

[Munificence]

45. I agree with you

that the poster is 60 years behind....today it is referred to as:

"Liberal Arts".

[smirkymonkey]

15. It's disgusting. They are profiting off our misery.

I will never get out of this hole, and they are laughing all the way to the bank.

[SoapBox]

18. Just saw a post...Person said, she should get off her "high-horse"...

Because she didn't endorse Hill.

If this is an example of her being on her "high-horse", I'm all for her staying up there.

[Enthusiast]

21. Kicked and recommended!

Someone has to pay for this military.

[liberalnarb]

25. Vote Bernie!

[dpatbrown]

27. A true progressive

In addition to Sanders, she speaks up, and is very vocal about the rip off of the middle class. She is very consistent and doesn't give up.

In addition, I just read where all the women senators (dems) have come together to endorse Clinton, EXCEPT for Warren. Much can be read into her decision not to endorse her, I'm curious to see what transpires. I would be thrilled to see her endorse Sanders.

[GummyBearz]

39. Well if she endorsed Sanders she would be on HRC's naughty list

which means no xmas "gifts", or any other type of "gifts", but maybe a lump of coal

[dpatbrown]

41. Isn't that the truth!

It would be a huge endorsement for Bernie. We'll see.

[TryLogic]

37. How nice that she tells it like it is. Is she (and Bernie) the only ones in Washington with guts?

[TryLogic]

38. Oh yes, Republicans have guts, but they are stupid as hell, always on the wrong side of every issue.

[Dont call me Shirley]

43. It's almost like the Brits have won a silent war against Americans and have quietly taken over our

government, economic system, educational system and our future. And use us to fight their imperialistic wars.