Modern Day Slavery in America

I want to talk about the biggest problem the U.S. faces right now. I want to talk about the millions of people in America that are turning into debt slaves. What people don't think about is that the cost of going to college has skyrocketed 500% since the 80s. Not only do we have a super saturated market of college grads right now, but each one of them is in massive debt. What do the people who don't get a good job after college go? They go into massive debt slavery. They cant pay their loans back one month so they take out a loan. They take out a loan for their car. They take out a loan for a phone. It's common for college grads to pay more each moth for a STUDENT LOAN then it is for their monthly MORGAGE. Isn't that crazy? It gets worse. They can't pay it back for at least 10 years. You can't raise a family on that. You are working so many crappy jobs that you don't have the time to prepare for anything better. You are a slave! I want people here on MO that are high at risk and are about to go to college. DON'T do it! Don't believe the lies they say. Don't ever take out a loan to forward your learning. Just learn the skills yourself! Please don't sign your life away like so many others. We are living with a generation of debt slaves. Student loans are scams! http://www.youtube.com/watch?v=wvpM4R5sGo4

Mango if I was able to do that, I would.. Yeah it would suck, you would have very little privacy, but the more you can pay on them the better off you will be several years down the road. When I got out of college and they started asking for payments on my loans, with the amount they wanted, I knew I would never be able to "settle down" and would never be able to have a family. It's like the movie Idiocracy unfolding before my eyes.

@mango_mochi: He's probably paying heavier into the principle rather than the interest. But regardless, yes. He's likely still up to his ass in debt. The credit/debt bubble is going to be a big ol' repeat of the housing bubble. Prepare.

Thats scary tbh i was nearly in that position the school i wanted to go to costed $70,000 who the hell has that kind of money? I sure as hell dont and my family couldnt spare me $5,000 let alone $500 to pay for school. The only other way i could have done it would have been through loans and i pay that much for school and they dont help you find a job your basically on your own after college. I would have to sell my life away just to pay back that money

I started out with about 25,000 in student loan debt. I've actually paid roughly 16,000 back thus far. Always pay more than what they ask for on your statements and consolidate early or the interest will eat you alive. I was very lucky to fall into a high paying profession, but most will not be. The debt crisis is absolutely ridiculous and something has to be done about it. No one wants to acknowledge that the education "industry" we've created is on the verge of collapse.

Fuck college unless you are going for specific high-paying careers or are rich. I dropped out. No debt. But your choices are slave-wage or debt slave. America is only free for the wealthy. It's not "For the people, by the people" It's "For the rich, by the rich".