I hope their degrees are not in math, because they suck at it.   They do however appear to have a good case for bankruptcy which may be a better option in the long run.  

The entire college system has become a racket, a scam.  For every student who incurs debt and actually gets a degree they are working in, there are dozens of students who never do.  They either drop out or have degrees that its either impossible to get a job in or only the very few ever do.   Its worsened by a loan policies that often has no controls over whether the money is actually used for school.  

My daughter in law is a nurse.  While she was in school, her parents took their entire family even extended family 1,000s of miles away to Disney World including Disney Resort.   When she got back home, she discovered her parents had used her student loan money.   Yep, still paying on that.  Her parents aren't really bad, they're just not bright and zero fiscal responsibility.  I kid you not, they are like gamblers where every bit of money, they treat like found money.  

Everyone, even conservatives, understand what a racket college has become.   A little known fact is in TN the first two years of college for all students is on the state.   A balanced budget amendment state, there are restrictions.  For example, it has to be a community college and the student must meet a minimum ACT score.  Many of them are state university associated so all the hours transfer.   In case, you are wondering.  No it has zero impact on our state budget.  In fact, it has a surplus.  Being a balanced budget state, TN is pay as you go.  For example, 100% of your fishing and hunting license goes to TN wildlife, state parks have a fee where 100% goes to the park system, etc.  100% of our lotto money goes to the education system and pays for this college program.  Not bad for a no income tax state.  

When they passed this, things changed dramatically.  (Of course, it was after I put my son through. My luck.)  Freshman classes became enormous.   Within one year, the enrollment dropped to almost normal pre-program levels. Being a community college, students did not live on campus and the number of students with jobs after the first year increased dramatically.    Transfers to the big schools remained about the same, however, associate degrees in actual work fields went way up.   In many schools, the prestige of the university went way up as the associate degree students entered the workforce.   Its been quite eye opening to what is going on in the college system in general.  The difference, of course, is the amount of debt.

Our current governor wants to do the same thing even starting in public schools with trade schools, however its been much slower.  That balanced budget requirement means that they have to figure out how to pay for it.  When I was a kid.  Trade skills were part of the high school curriculum even allowing kids off half a day to attend trade schools or work as an apprentice.  Many things killed this besides this everyone needs to go to college idea.  In a big part it was this social justice BS that eliminated types of degrees based on type of studies.   School is like a life boat, put everyone in the same boat, it does more harm than good as its jus that many more who are pushed out of the boat when there's a storm.  

Education should not be about social justice.  It should be about math, how many successfully enter the workforce.  Enter the workforce and unable to pay you debt is not a success. Giving loans to kids that there is no way in the world they can ever repay it in their declared field is predatory lending bordering on slavery.  That's coal mine shit right there.  

Tj

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Did not know that 62 and over thing, thank you. Long while to go on that, but good to know. Especially considering how much the state gubmint r$pes us for taxes!
Thanks

Vehicles are an interesting topic.   Its something most of us can't live without.   For many, is the second highest investment in their life at any given time.   I'm going to blow a few minds.  

Life is just too damn short with all the time we spend in cars to buy boring.   Worse, no matter how long it lasts boring will just devaluate to nothing, zero.   What people seldom think of is exciting vehicles at a worst case will devalue to a point and no lower.  An old example of that is 4x4s which are no matter what kind typically worth more than blah car on rip off Bob's car lot.  Desirable cars on the other hand will be worth more and collectables will actually gain value.   Being able to simply buy collectables well just isn't that easy especially new especially now.   The high entry prices now helps those who bought before but almost insures those who are just now investing will be damn near dead before their investment breaks even.  

A little lesson I actually learned from those who live in CA and quite frankly a lot of older folks when I was younger.   The folks in CA and for that matter quite a few more blue states have a very high property tax on vehicles so they buy old, mostly collectables, and restore them.   There's some damn fine cool cars rolling around in those states, daily drivers.  

It all starts with understanding its a machine and a machine like a tractor on a farm no matter what brand can last forever as long as you repair it.   OK, you should be thinking most people do that.   Where they screw up is not understanding when the repair burden gets too high, its not time to sell but time to restore.   That takes us full circle right back to the initial investment.   If its blah, you aren't going to want to restore it because you won't break even financially because there's tons of ones just like it out there and their cost is very low.  

People need to ask themselves, if a vehicle is my 2nd highest personal investment, why the hell am I first buying boring and second not looking at recoupling as much of my investment as possible?    God, I can't begin to tell you how sorry I feel for the guy who tells me he bought blah whatever and got hundreds of thousands of miles on it.   He's been in a POS for years and despite not making this many payments his initial investment is shit.  The guy who follows his value and trades when he's ahead of his loan is better off than he is and that's not good either.   That's not any better than the guy who resigns himself to that payment and leases, very close anyway.  

Let me give you an alternative.   Every vehicle you buy think two ways.  First, its an investment.  What will be its value down the line and will it reach a point it bottoms then goes up.   Next and this is very radical, I plan on keeping it forever and never selling it.   Hint, you won't buying boring or for that matter luxury throw aways.  

Yeah I'm one of those got four vehicles types.  The difference though is I am retired not going to be, all of them are paid for (Heck only financed one of them), and all of them as of today and far as I can see into the future are and will be worth more than I paid for them.   Retired you don't commute and mileage spread out over multiple vehicles is a big factor.   When Biff says I got this many hundred thousands of miles on my blah car, I think I don't have a hundred thousand of miles on all of mine put together.   Better, this one will pull a house, this one I romp on it at 80mph it will try to throw you in the back seat, and this one the top goes down and will take a curve like a snake.  

One learns from their mistakes in life and dang did I make my share on vehicles.   The wife and I both are motor heads so we enjoy them and gladly gave up those ocean cruises for a hot car.   That said, bored with the car show scene, I never should have sold my Dodge Chargers, 69 and 73.  I double my investment at the time but dang it'd be triple now.  Man the money I flat out blew on trade and buy a new one blah cars.   One thing these guys on here have right is don't do that.  

Last bit of advice on vehicles.  For God's sake, if you spend ten of thousands on a vehicle take care of it.  Wash it, wax it, and pull the maintenance on it even preventative maintenance.  Nobody is going to give a shit how many miles you have on a POS but even a blah car can turn heads if its sharp as a tack.

Tj

Heck, I use to too until I started buying vehicles as fun with as much esceapism as a motorcycle.   In fact, motorcycles is probably what led me there.  Buy a vehicle that will climb a mountain or 0-60 in under 5 seconds, you aren't bored.   IMHO, drive em till they drop is the only way to limit financial loss.  Its in learning they may never drop if you fix them that's the next logical step.  Two of my four have antique tags.   One of the two is in mid restoration.  

Excuse the pun, to shift gears, "The problem with retirement is there is always something that needs fixing."  Here's a sad truism.  If you were one of those hard working "Git er done" types in life, you will be in retirement.   You just start moving slower.   I had all these great plans and honestly flat out blew 90% of them.   Heck I thought I'd sleep in like  a kid but after a lifetime of getting up at the crack of dawn, here I am, I still do.   You have so much to do and slow down so much, it makes you wonder how the hell you did it and work too.   The truth is, we didn't.  

Here's another sad truism.  Had I known what retirement was actually was like, I'd have done it years sooner.   There's never enough time.  

Tj

Social Security is a government ran pension plan.   It's a very poorly ran one.  It never was intended to be a general welfare program.  The numbers don't add up.   About everyone knows this guy who's healthy as a horse, too young to retire, but is on social security.  Just because you were born shouldn't entitle you to Social Security.  It should be like any other retirement pension, you gotta pay to play.  When Reagan was president, he just attacked the fraud and the numbers whipped back in line.  

Now there's a radical thought, hold Social Security to the exact same pension standards the government holds us to.  That would mean before cutting benefits to those who actually paid in all their life, they would have to close the plan and pay off the pensioners, how much dependent on how much paid in.  Talk about turmoil.  

Where I'm getting at guys is that's not the governments money.  Its not even every tax payers money.  That's your freaking money.  First, its not a tax.  Its a pension contribution and there's a very accurate record of exactly to the penny how much you contributed since the first day you took a real job.  In fact, how much you are supposed to draw is based on how much you paid in.  

If this was Fidelty taking your 401K, you'd be screaming bloody murder and "A deal is a deal" but somehow you are resigned to the fact the same government that just printed two trillion dollars with no backing so they can force us Americans to drive electric cars we don't want is OK that they renege on a lifetime deal?  To hell with that.  That's mine and your money.  Its not the peoples money.  

Commonsense business is rather than screw all or us, they ought to just fix the damn thing.   One simple change would do it, one.  You gotta pay to play.   They throw smoke up our ass like "We're living longer."  We aren't living that much longer.  What we are doing is going on it younger and I'm not even talking 62 here.  I'm talking 20s, 30s, and 40s.  Now I'm going to sound really cruel but sad you are disabled but that's a family burden not a government burden.  If you can drive a car or sit at a desk, you can work. Hell, I worked the last 30 years with Crohns Disease.  

Tj