Quote:
Originally Posted by wdfifteen
If there is an abundance of candidates for a particular profession the earning potential is going to go down due to supply and demand and it will become harder to get loans for that major. The bottom line is - will you be able to pay off the loan? Stability, personal growth, etc are all wonderful, but should an individual get them at someone else's expense? What does it do you a person's personal growth to know they owe thousands of dollars that they can't pay back?
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You misunderstood what I referred to as "stability". I mean stability of the profession, not the person. Like I mentioned, nursing won't make me rich but I guarantee that I can pay my bills. My salary is stable. Layoffs as far as nursing are not as extreme and common as in other professions, IF you are a good nurse.
I agree with Redbeard. Just as you have to apply for a car or mortgage, you should have to do the same for school loans. And since you most likely don't have a lot credit, you have to base it on other factors like GPA or interviews to present your "business plan" on how your choice major will lead to career success and to your specified "dream job". If the process was that rigorous, it would be a self weeding out process. People who aren't go-getters and ambitious probably won't pursue that process because it would be too hard. The process as it stands today is too easy. Kids see it as "free" money. I had a roommate who took out a crap load of student loans and ended up dropping out. She spent "her" money on restaurants, going out, and her sorority dues. I remember her teasing me because I scraped up every penny, working as a waitress to pay my rent even though I had a full ride scholarship. She told me I work too hard and should just take out a loan. If I would have followed her advice, I would have graduated with debt instead of NONE!