Young white Americans abandon the US – Student Debtors Flee Country

Greetings,

Student Debtors Flee Country

By Professor Doom

Friend: “You’re an idiot. Inflation is only 1.5% according to the BLS, and that’s what it’s been for years.”

Me: “How would you know? You’ve been in med school in the Czech Republic for what, 4 years now?”

Friend: “Yeah, the tuition here is much cheaper. But I have the internet so I can see what the BLS is saying, you idiot.”

–recent conversation with a Liberal friend. I would have pressed the point, but trying to repair this level of cognitive disconnect can cause permanent brain damage, so I let it go.
The student loan scam has warped higher education. The skyrocketing tuition has created and debased our schools so that many of them are little more than money laundering schemes, funneling money into administrative pockets. This has resulted in millions of young people starting adult life deep in debt, forcing quite a few of them into prostitution, even the ones that manage to get those horribly expensive degrees.

The kids that escape higher education with no degree, and for whom prostitution is not an option, are even worse off. The last option? Flee the country.

Meet the Americans Who Moved to Europe and Went AWOL on Their Student Loans
Getting that student loan money back is a lot harder when the victim is not in the country, and has no intention of returning. Yes, leaving the country means you lose out on that all the “benefits” of being an American, but if you have the average student loan debt (around $30,000 a in 2014, but it’s over $35,000 now, and Federal Marshals can pick you up if you don’t pay), nothing to show for it, no assets (like a typical 20 year old)…why not just emigrate to a land of opportunity?

Hmm, I seem to remember America being such a land, a land the hopeful came to instead of a land the hopeless flee. What happened? The student loan scam, of course.

Joshua R. I. Cohen, who calls himself The Student Loan Lawyer, tells me that this plan could work for some people, albeit only if the debt dodgers plan to never live in the US again. Students who move to a foreign country and stop paying off their loan debt “will only feel consequences if they’re working for a US company on foreign soil,” Cohen says.
Government policies to fix problems always have unintended consequences, and usually such consequences are so bad that it would have been better if government had not tried to help. The student loan scam is merely one more example of such a policy.

Student loans were supposed to help people get an education. In addition to the unintended consequence of warping higher education into a money-funneling system, it’s driving our young people into prostitution, or out of the country. I’ve covered the prostitution before, so it must be time to consider the other option.

The article I’m quoting from looks at a few of these victims who have fled the country thanks to the student loan scam. I want to add a few things.

“I received enough scholarship money at the time to cover half of the tuition and the loans covered the remainder.”
The above hints at a very common sucker play in higher education. The gentle reader should know that only about 5%, perhaps less, of the tuition money is needed to pay for the actual education of a typical student. Most faculty are paid low enough to qualify for welfare even if they work 40 hours a week, and most state schools get enough tax support that other overhead costs are minimal. Every faculty member that does that math realizes that 5% or less of the tuition money goes into faculty pay and other overhead.

Yes, 95% of tuition costs are pure profit, or at least have nothing to do with education. It’s why for-profit schools are willing to spend insane money on advertising, and why an accredited 4 year university that isn’t interested in ripping off students can charge $1,000 a year tuition and be fine (I’m serious, this university is open to anyone, and nearly tuition free)…..More Here

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