“During Reagan’s two terms as president, dedicated funding for outright grants-in-aid decreased,…”

October 29 Comments Off on “During Reagan’s two terms as president, dedicated funding for outright grants-in-aid decreased,…” Category: Feed, Tumblr

“During Reagan’s two terms as president, dedicated funding for outright grants-in-aid decreased, federal guidelines pushed individual loans, and private bill collectors were brought in to ensure that the hardest kind of debt to escape was whatever you took on for your education. Even more important was the shift in tone and expectation. Public goods became private services, and by the end of the 1980s, the anti-tax, infra-structure-starving, neoliberal Weltanschauung meant that as states cut their budgets, support for higher education was thrown into a cage match with every other necessary public good.”

Ronald Reagan stuck it to millennials: A college debt history lesson no one tells. Dramatic, awful changes occurred on my generation’s watch — and it amounts to a fiendishly successful conspiracy.

Meet the New Underclass: People With Ph.D.s in Science

October 08 Comments Off on Meet the New Underclass: People With Ph.D.s in Science Category: Feed, Tumblr

Meet the New Underclass: People With Ph.D.s in Science:

Once upon a time, newly-minted science Ph.D.s would get research jobs at a senior scientist’s laboratory, to train and hone the ideas they would explore at their own labs. But now the supply of post-doctoral students is outpacing demand, creating a new, hyper-educated underclass.

“”The GAO found that 706,000 of households headed by those aged 65 or older have outstanding student…”

October 01 Comments Off on “”The GAO found that 706,000 of households headed by those aged 65 or older have outstanding student…” Category: Feed, Tumblr

“The GAO found that 706,000 of households headed by those aged 65 or older have outstanding student debts. That’s just 3 percent of all households, but the debt they hold has ballooned from $2.8 billion in 2005 to about $18.2 billion last year. Some 27 percent of those loans are in default.

If you’re among the 191,000 households that GAO estimates have defaulted, your Social Security benefits can be attached and seized.”

It happens: Seniors with student debt – and smaller Social Security checks.

Pay attention. This is OUR future.

“”The legacy of the Great Recession of 2008 has yet to be fully processed. But one of its most…”

September 23 Comments Off on “”The legacy of the Great Recession of 2008 has yet to be fully processed. But one of its most…” Category: Feed, Tumblr

“The legacy of the Great Recession of 2008 has yet to be fully processed. But one of its most lasting impacts will no doubt stem from the fact that many college students and recent graduates—people who were just starting to build the careers and financial autonomy that would have allowed us “adult” lives—were suddenly faced with an economy in which getting a steady job was unlikely. Even if you were privileged or lucky enough to be able to afford a college education, companies’ increasing reliance on unpaid internships meant that building a career was a matter of being able to work for free after you graduated: Increasingly, only the children of the very wealthy were able to make the choices and secure the entry-level jobs that might lead to “adult” autonomy down the line. As a result, we saved money by living with our parents far longer than previous generations. The financial expense of a wedding—or the responsibility of asking another person to rely on you for the rest of their life—was not something one could reasonably embrace, if one were uncertain about making rent or having a job in six months’ time. Similarly, providing for a child was laughable if you couldn’t even reliably provide for yourself. And buying a house? In today’s market? Forget it.

“My generation didn’t choose childhood. Childhood chose us, or rather, it refused to let us go. We stayed adolescent because post-adolescent responsibilities were never granted to us. We were trapped in Neverland, and sooner or later, we resigned ourselves to just having fun.”

Who Killed Adulthood?