Regarding student loans, federal regulatory agencies have targeted vocational colleges. In quite a few lawsuits, students who later sued these universities claimed that despite being told there would be lots of employment available once they finished their degree programs, none were available to them once they graduated. However, even though it would be the case for a sizable portion of students in some fields, I don’t see how it would be a problem unique to vocational college in Las Vegas.
You know, many college students attended prestigious non profit universities and colleges to earn their degrees, and it turns out that more than 50% of the students who had a legal degree were unable to find any employment. If they cannot find work, they will undoubtedly be unable to repay their school loans, and the default rate is rapidly rising. In actuality, Josh Mitchell’s article “Student Debt Hits the Middle-Aged” in the Wall Street Journal on July 18, 2012, made the following claims:
“As of March 2012, the delinquency rate, or the percentage of debts for which no payments have been made for 90 days, was 11.9% for borrowers aged 40 to 49. When debtors of all ages are included, the default rate is 8.7%.” This information appears to have come from the Federal Reserve Bank’s New York office.
Classes Offered in a Variety
Online learning is an excellent alternative if distance and time constraints prevent you from taking the courses you’re interested in. Nowadays, practically any career may be pursued while never setting foot on campus, thanks to the estimated 75% of vocational institutions and trade schools that offer online programs. The best part is that degrees and certificates obtained online have the same value as those obtained in traditional classroom settings.
For most students, the flexibility offered by online trade schools is undoubtedly the most significant benefit. Online learning fundamentally redefines the old assumptions connected with attending school by enabling you to attend class whenever and wherever you want.
The Future of Education Is Online Learning
Online learning is more than just a contemporary convenience, according to most professors and students who have used it. Instead, it offers a peek into the direction education is headed.
Online schools appear destined to expand educational opportunities, just as the internet has extended the accessibility of many other things in our life. This type of education benefits both students and teachers by simultaneously lowering the cost of education and increasing access to it. Trade school programs offered online are undoubtedly here to stay.
That sounds like a huge problem, and the fact that it is related to our nation’s unemployment rate shows how serious the issue is. Therefore, one must consider whether it makes sense to increase the number of student loans so that everyone may attend college while simultaneously driving the interest rate lower, especially given how quickly the delinquency rate is rising. Otherwise, we risk creating a student debt bubble, and all bubbles, regardless of their industry, eventually burst.
It scarcely makes sense for politicians or podium-pushers to blame this on vocational schools, which teach people how to do a job and are typically affiliated with corporations, preparing people for the specific jobs needed. Not-for-profit colleges and universities dislike competition and are aware that they are competing with one another for students who have obtained student loans to pay for college in the first place may be part of the real issue.
Perhaps it’s time to consider all of this, give it some thought, and base all of our decisions on reality rather than political rhetoric, hyperbole, or anti-business sentiment simply because most vocational schools are for-profit colleges as opposed to public or nonprofit universities. Do you get what I’m saying? I sincerely hope you will give this some thought.