Monday, February 24, 2020

Tax Professors and College Admin to Bail Out Student Loans

This is an excerpt from "How Not to Become a Millennial" that addresses the true culprits of the student loan crisis - the professors and college administrators who sold - and profited off of - worthless, overpriced degrees to Millennials.  My favorite aspect of this whole ordeal is how college and universities were so successful at brainwashing college-educated Millennials that they convinced them it was anybody BUT professors and college admin who profited off of the student loan scam. That it's somehow "banks" or "evil white republicans" who made off with $4 trillion in Millennial tuition, not the professor selling his "38th edition textbook" for $400.  Regardless, it's an idea I and pretty much every person across the aisle can get behind.  If you want to tax the income, property, and retirement plans of professors, college admin, and the universities themselves, I think it's an actual politically-viable way to finance a bailout.

"There is one good thing that can be said about Teacher Boomers.  At least they didn’t charge their students.  Oh yeah, they charged the taxpayer, and often times at rates charged by colleges.  But the 3rd graders themselves weren’t forking over the bill to learn about dangling participles, new math, and how eight year old Amy might in fact be a man inside.  But if there’s a group of people the Millennials should be rounding up for free helicopter rides, the estates of which should be confiscated to bail them out of their student loans, these are the people.  The true snake oil salesmen.  The Boomers who financially crippled the Millennials forever - The Professor Boomers.

Like Teacher Boomers, Professor Boomers (and their College Administration Boomer colleagues) also wasted the youth of the Millennials with pointless schooling.  But instead of the taxpayer footing the bill for tuition, it would be the Millennials themselves who would pay the bill.  And not only pay the bill, but all the interest that would accrue on it as they slowly found out their degree would not land them a decent paying job.

There is not much that can be said about the Professor Boomers that wasn’t said about the Teacher Boomers because they’re essentially the same.  They’re rank Marxists.  They have no real world experience.  They can’t do so they teach.  And the education they gave the Millennials was likely also worthless.  But what really makes the Professor Boomers vile is they damn well knew the education they were giving the Millennials was worthless.  They were just happier than punch the Millennials were dumb enough to pay them $300 a credit for it and borrow $100K at 7% to finance it.

The only problem is how can you, with a straight face and a conscience, tell a kid to borrow $75,000 and spend four years of his life on such bullshit degrees like Sociology, Journalism, Women’s Studies, English, and the like?  How can you take young, naïve 18 year olds and ruin their financial lives forever by selling them worthless degrees?  How can anyone with the slightest bit of a moral compass forcibly charge $400 a credit and $300 for a textbook for a pre-req class that has absolutely nothing to do with a student’s major?

Apparently the answer is simple.  Just be a Professor Boomer!

Disgusting as it is, you once again see how Boomer actions show their true colors.  Millions of Professor Boomers and millions of College Admin Boomers had absolutely no moral qualms about lying to an entire generation of youth about the value of these worthless degrees.  They didn’t care if it ruined the Millennials’ financial lives forever, these vampires were perfectly fine effectively enslaving these kids to them for the rest of their lives. 

But what I get a kick out of, what has got to be an absolute kick in the teeth, is when a professor or dean pulls up to the coffee store in his Lexus, goes up to the counter, and orders a latte from a barista they just screwed $120,000 out of for a “Master’s degree in Chicano Studies.”  But the barista is so stupid, he doesn’t realize he’s been screwed or by who.  He actually falls for the indoctrination by his professor that it’s the “evil republicans in congress” or “the evil banks” that screwed him over, not the scumbag Professor Boomer who is in effect his new slave owner standing right in front of him.  It’s debatable which is more impressive.  The fact Professor Boomers screwed younger generations out of $4 trillion in tuition or that they fooled said generations into not realizing it.  Either way it was one hell of a heist."


Anonymous said...

Quite impressive how University of Mizzou recovered from that fiasco. All the major news networks just swept under the rug and demonized white males were all too quick to forgive.

Tucanae Services said...

I am a professor Boomer and I resemble that remark, only I teach STEM.

* The biggest scam is not the school, well second, first are the books. "not the professor selling his "38th edition textbook" for $400." is the real scam and I know a few that bull it off. In this digital age, a few profs could put together a digital edition for $10. Sell 20k copies a year and share the profits. A nice sum to make and everyone comes away satisfied.

* Few if any make the six figure salaries like Warren did. If you add in the lowly adjuncts average pay is around $40k or so. Adjuncts are the dirty secret of the education trade.

* I do caution students that going into my program is not a video game which many hinge their interests on. I also caution that be very sure that you have your life squared away before taking on any debt.

By the way the screwing starts at the HS counselor level. None of them know how to pitch a life other than 'go to college'. Its the easy solution for them too. Hand out brochures and stamp the kids forehead 'done'.

Anonymous said...

You aren't wrong, but the "victims" here were adults, with agency and free will. This isn't on the same level with stealing candy from infants. These were adults and they signed contracts. It's not my fault they were suckers and I'll be goddamned if I'm going to bail them out.

Anyone stupid enough to rack up six figures in student loan debt for a degree in philosophy and then bitch about it while working at McDonald's deserves it. He's Mr. Bad Example. Don't be like him. Choices have consequences. They should bring back the stocks and debtor's prison for these stupid motherfuckers.

David said...

Being a student debt slave and not knowing who was your true enemy is a lot like being chummy with the people who robbed you.

Colleges and universities - Where Baby Boomer and Gen X Marxists financially rip off young and aspiring Marxists.

Asshole Wingman said...

I am one of those professors. But I am not a boomer (borderline between gen X and millenial), I am in a STEM field, in a research university and not in the USA. So the situation is not exactly the same.

Now, I can tell you for certain that when it comes to my university, 90% of the undergraduates have no business being in my major. I am in the S part of STEM, and most of the students don't have the aptitude for it and won't work in a related field. Moreover, even for those that do have the talent and the brains our program is not competitive enough.

My own undergraduate degree was from a top level public University in US, PhD was from an Ivy League level private school, and my postdoc was abroad at the too university of that country. All those programs are competitive enough in pure science to be worth it even if you go into industry after. But for lower ranking universities, a bachelor in pure science is hard to justify.

The number of undergraduatea in our department should be much smaller, but we are given a quota from the university level that we have to abide by.

The best I could do is to push for more training of applied skills beyond the science to set the students up for industry careers. Luckily, most of the department is on board with it.
Unfortunately, there are always some faculty that have a phylosophy that is the students are not interested in staying in science like them, then fuck those students.

Anonymous said...

"You aren't wrong, but the "victims" here were adults, with agency and free will. This isn't on the same level with stealing candy from infants. These were adults and they signed contracts. It's not my fault they were suckers and I'll be goddamned if I'm going to bail them out."

Right, blame the victims, and not the Gaslighters. How come no one stopped to think "Maybe we shouldn't be lending all this money to people majoring in worthless degrees". Don't think the other Generations are off the hook for lying to Millenials.

The family court system routinely sides with Adult Women who have agency and allows them to get off the hook. However, in the case of student loan debt its provable that were was extreme deception going on by the Narcisstic Baby Boomers, and Hedonistic Generation X. That latter of which no one seems to notice is partially responsible for this mess.

The same thing happens in the workforce. Its the employers fault a new hire cant do their job, not the new hire. Ignoring the root cause only causes error cascades. A debt jubilee would be marvelous thing. Federal employees and some teachers are already able to get one.
Why not victims of our societies love of lies? Why not people that were collectively lied to by Elders? You know, the one group of people that's supposed to have their best interest. Perpetuating the cycle of abuse is not going to solve the problem. Id hate to be a Gen Xer and Baby Boomer when Millenials finally start waking up to how badly they were hoodwinked. We outnumber all of you, and most of you are cowards, hiding behind HR departments and ignore the reality principle.

iu said...

I'm sorry but the Millennials will henceforth be known as the Crybaby generation.

Asshole Wingman said...

Let's do some math.
A Google search tells me that the average professor salary in the US is about $75000.
Lets assume we are talking about a research university with a lowest teaching load of 1 class per semester (2 per year). Let's also assume that 100% of the salary is paid from teaching.
Finally let's take an average class size of 20 students.
We get that the cost of one course per student is $1875. Taking that the students typically take 4 classes per semester the total amount a student contributes to professors salary per year is $15000.

Everything above that is overhead.

Now. Please note that for a research university, not 100% of the faculty salary comes from teaching undergraduates. And the class size is higher than 20.
For a teaching college, on the other hand, the teaching load is something like 5 classes per semester. Although the class size is smaller.

So it is probably not the professor salaries that are the biggest problem, but the university overhead.