2022 Midterms

[Typical Lax Dad]

Completely agree.

Will say again, TLD, with all those college grads making six figures there is no need for student loan forgiveness, there should be no such discussion. The math doesn't work there....or they should have learned how to manage money with all that education.

You will not find an example of an 18 year old recent HS grad with no job or credit history that was given a $30K car loan at any bank anywhere, Ffg. I can tell you with a couple of decades of experience that flat out aint gonna happen. You can find probably millions of examples of 18 year olds given $30K student loans with the wave of the magic wand though, despite the fact that they have no idea where they're going to be working or what they're going to be doing to pay that loan back. In TLD's world they'll all be making six figures but in the real world that aint happenin'.

jhu72 is right on the money, IMO. Sure, there's value in a college education but it aint for the masses as is shoved down pretty much everyone's throat, and it aint worth what it used be. You see darn near all college grads making six figures, TLD, in the real world I've seen many college grads who couldn't get a car loan because their debt to income ratio was way too high (student loans put a hurtin' on you for a long time). Hopefully Mommy and Daddy's credit is still good enough to be co-buyers, otherwise the six figure earning college grad aint gonna be driving no new car. Lot of people need to re-think college.
https://www.youtube.com/watch?v=_x5SeXNabd8

We have in many cases perverted the mission the purpose of college and turned it into a very very expensive trade school* with attached very nice vacation resort. This is the effect middle class mommies and daddies demanding their kids go to college (not trade school, heaven forbid) has had. Marketeers giving the customer, mommy and daddy what they want.

* when I use the phrase "trade school" here I mean a school geared towards near term acquisition of a job. Job acquisition was never meant to be part of the mission of traditional college, it was meant as introductory training for ultimately participating in a profession. That profession would require additional training. Of course with a college degree you could find employment but it was never meant as the primary goal. This of course wrongly leads to the perception that college is better than trade school (see mommy and daddy), when it shouldn't. This perception frankly is one of the casus belli of the "blue collar" working class in the culture war.

I first learned of the prominence that German trade schools hold and how the trade school path is a different, not lesser path, in that country. The chairman of the first bank that I worked for would talk about that system and would bring in young German interns that we got to know. I have been in favor of it. We actually hired an young intern here that graduated from a vocational HS, then a local college. Ended up at PWC and now at a boutique shop. Worked as a HVAC tech to pay for college.

I believe too many kids that should be doing something else are on many college campuses. The government’s forgiveness program is a tangential issue. Not all kids with debt, shouldn’t have gone to college.

[Farfromgeneva]

Given that the sheepskin is the ticket to riches, why the need for student loan forgiveness?
I don't think you'd have to travel too far out of your circle to find more than one college grad
not making six figures. Further, six figures is a far cry from what it once was. Looked at the
price of cars lately? Houses, rent, health insurance?

... For those who belong in college, it can be a ticket to riches, for those who don't it is a ticket to bankruptcy in many cases. As a society we have way too many people in college that don't belong anywhere near a traditional college campus. Mommy and daddy are the problem. The bankers and all the middlemen are more than happy to take advantage of the situation. It also negatively impacts the educational mission of colleges. Sorry if that sounds elitist, but it is the truth.

Trade schools are the answer, but they are not good enough for mommy and daddy.

Yeah except you forgot that the educational community benefits more than the bankers from this system. Let’s move off the easy target because you could kill every banker (I’m going down zombieland style if you come after me) because solving the problem means rooting out all the perverse incentives and I see a a** ton (that’s a scientific term) within the higher Ed system. Look at Columbia recently and temples online MBA program in the last few years. The way you describe it is as if they haven’t gladly fed off this system but rather everyone in high ed is victims of this. Maybe not your intent but it’s always the bankers and yet every time they address the issues with the bankers the problem still exists then what?

I don’t know exactly how it works but one of my best friends father ran the graduate psych dept at SUNY Binghamton, was a good person, but somehow made money of the grants he received. Or filtered into his personal living heavily. Got the sense this isn’t uncommon.

All the jobs that maybe shouldn’t exist for mediocre PhDs. The ones who filter into micro issues but aren’t really advancing research just half a**ing teaching and half a**ing publishing.

[Typical Lax Dad]

Given that the sheepskin is the ticket to riches, why the need for student loan forgiveness?
I don't think you'd have to travel too far out of your circle to find more than one college grad
not making six figures. Further, six figures is a far cry from what it once was. Looked at the
price of cars lately? Houses, rent, health insurance?

... For those who belong in college, it can be a ticket to riches, for those who don't it is a ticket to bankruptcy in many cases. As a society we have way too many people in college that don't belong anywhere near a traditional college campus. Mommy and daddy are the problem. The bankers and all the middlemen are more than happy to take advantage of the situation. It also negatively impacts the educational mission of colleges. Sorry if that sounds elitist, but it is the truth.

Trade schools are the answer, but they are not good enough for mommy and daddy.

Yeah except you forgot that the educational community benefits more than the bankers from this system. Let’s move off the easy target because you could kill every banker (I’m going down zombieland style if you come after me) because solving the problem means rooting out all the perverse incentives and I see a a** ton (that’s a scientific term) within the higher Ed system. Look at Columbia recently and temples online MBA program in the last few years. The way you describe it is as if they haven’t gladly fed off this system but rather everyone in high ed is victims of this. Maybe not your intent but it’s always the bankers and yet every time they address the issues with the bankers the problem still exists then what?

I don’t know exactly how it works but one of my best friends father ran the graduate psych dept at SUNY Binghamton, was a good person, but somehow made money of the grants he received. Or filtered into his personal living heavily. Got the sense this isn’t uncommon.

All the jobs that maybe shouldn’t exist for mediocre PhDs. The ones who filter into micro issues but aren’t really advancing research just half a**ing teaching and half a**ing publishing.

College faculty ain’t getting rich. Administration is a different story.

[Farfromgeneva]

Completely agree.

Will say again, TLD, with all those college grads making six figures there is no need for student loan forgiveness, there should be no such discussion. The math doesn't work there....or they should have learned how to manage money with all that education.

You will not find an example of an 18 year old recent HS grad with no credit history that was given a $30K car loan at any bank anywhere, Ffg. I can tell you with a couple of decades of experience that flat out aint gonna happen. You can find probably millions of examples of 18 year olds given $30K student loans with the wave of the magic wand though, despite the fact that they have no idea where they're going to be working or what they're going to be doing to pay that loan back. In TLD's world they'll all be making six figures but in the real world that aint happenin'.

JHU72 is right on the money, IMO. Sure, there's value in a college education but it aint for the masses as is shoved down pretty much everyone's throat, and it aint worth what it used be. You see darn near all college grads making six figures, TLD, in the real world I've seen many college grads who couldn't get a car loan because their debt to income ratio was way too high (student loans put a hurtin' on a hurtin' on you for a long time). Hopefully Mommy and Daddy's credit is still good enough to be co-buyers, otherwise the six figure earning college grad aint gonna be driving no new car. Lot of people need to re-think college.
https://www.youtube.com/watch?v=_x5SeXNabd8

I am talking about odds. I believe I mentioned trade schools and community colleges being utilized more effectively. I am ambivalent regarding the student loan bailout. The government was a catalyst to the problem, in someways. Philosophically, I can see my way to supporting the idea that the government participate in the downside. Bailed out mortgage back security market at one time. Auto industry another. Now throwing money at chips….Some things are more complex than “see spot run”…. As for high wage earners, their loans shouldn’t be forgiven. That’s a good idea. Scale the forgiveness. Neither of mine borrowed a single $. I planned and saved starting day 1. I had the money so I paid the money. My belief is that there are many affordable colleges in this country but parents don’t want to send their kids to them. Do a search. I am on the record here.

I am indifferent regarding the bailout. Nobody forgave my student loan. I made sure my kids didn’t need one. Money played no role in my kids college selection decision. Turned down plenty because we planned.

Again, I am talking about odds. You can discourage college to those you can influence if you want. I support a college education or some form of post HS education. Helped my old admin assistant direct her two boys to trade school and got them interviews with metal shops with apprentice programs for HS kids….. College isn’t for everyone.

To be clear a couple of people using this incrementally doesn’t change my life but just to share an entity I’m working with on their capital side check this out. I do think it’s the wave of the future (once regulated banks and their regulators can structure the variable Cash flows to fit the rules around date certain repayment of CF-by definition if you can’t define the balloon and balloon date it’s non performing this was an issue with FFElP bonds held by banks a few years back).

https://student.edly.co/?utm_source=goo ... QhEALw_wcB

Private, no co-signer. Right now they only do Jrs and Srs and only Nursing and STEM so both reduce the early dropout default cohort plus are trying to capture specific major to work data, nursing they’ve got almost locked down like govt employment. Capped at 19.5% they’re averaging mid teens yield (IRR calc) so far with a 5%ish default rate though they expect it to be 8-12% in troughs.

As they can get more capital and are just breaking to profitability q1 of 2023 still on path, they want to evolve and grow it horizontally to offer to other students. Next up is an ESG play for teachers and other areas but haven’t closed that pool of capital yet and none of this is ready for banks to warehouse yet-I’ve tried.

https://student.edly.co/?utm_source=goo ... QhEALw_wcB

[Typical Lax Dad]

Completely agree.

Will say again, TLD, with all those college grads making six figures there is no need for student loan forgiveness, there should be no such discussion. The math doesn't work there....or they should have learned how to manage money with all that education.

You will not find an example of an 18 year old recent HS grad with no credit history that was given a $30K car loan at any bank anywhere, Ffg. I can tell you with a couple of decades of experience that flat out aint gonna happen. You can find probably millions of examples of 18 year olds given $30K student loans with the wave of the magic wand though, despite the fact that they have no idea where they're going to be working or what they're going to be doing to pay that loan back. In TLD's world they'll all be making six figures but in the real world that aint happenin'.

JHU72 is right on the money, IMO. Sure, there's value in a college education but it aint for the masses as is shoved down pretty much everyone's throat, and it aint worth what it used be. You see darn near all college grads making six figures, TLD, in the real world I've seen many college grads who couldn't get a car loan because their debt to income ratio was way too high (student loans put a hurtin' on a hurtin' on you for a long time). Hopefully Mommy and Daddy's credit is still good enough to be co-buyers, otherwise the six figure earning college grad aint gonna be driving no new car. Lot of people need to re-think college.
https://www.youtube.com/watch?v=_x5SeXNabd8

I am talking about odds. I believe I mentioned trade schools and community colleges being utilized more effectively. I am ambivalent regarding the student loan bailout. The government was a catalyst to the problem, in someways. Philosophically, I can see my way to supporting the idea that the government participate in the downside. Bailed out mortgage back security market at one time. Auto industry another. Now throwing money at chips….Some things are more complex than “see spot run”…. As for high wage earners, their loans shouldn’t be forgiven. That’s a good idea. Scale the forgiveness. Neither of mine borrowed a single $. I planned and saved starting day 1. I had the money so I paid the money. My belief is that there are many affordable colleges in this country but parents don’t want to send their kids to them. Do a search. I am on the record here.

I am indifferent regarding the bailout. Nobody forgave my student loan. I made sure my kids didn’t need one. Money played no role in my kids college selection decision. Turned down plenty because we planned.

Again, I am talking about odds. You can discourage college to those you can influence if you want. I support a college education or some form of post HS education. Helped my old admin assistant direct her two boys to trade school and got them interviews with metal shops with apprentice programs for HS kids….. College isn’t for everyone.

To be clear a couple of people using this incrementally doesn’t change my life but just to share an entity I’m working with on their capital side check this out. I do think it’s the wave of the future (once regulated banks and their regulators can structure the variable Cash flows to fit the rules around date certain repayment of CF-by definition if you can’t define the balloon and balloon date it’s non performing this was an issue with FFElP bonds held by banks a few years back).

https://student.edly.co/?utm_source=goo ... QhEALw_wcB

Private, no co-signer. Right now they only do Jrs and Srs and only Nursing and STEM so both reduce the early dropout default cohort plus are trying to capture specific major to work data, nursing they’ve got almost locked down like govt employment. Capped at 19.5% they’re averaging mid teens yield (IRR calc) so far with a 5%ish default rate though they expect it to be 8-12% in troughs.

As they can get more capital and are just breaking to profitability q1 of 2023 still on path, they want to evolve and grow it horizontally to offer to other students. Next up is an ESG play for teachers and other areas but haven’t closed that pool of capital yet and none of this is ready for banks to warehouse yet-I’ve tried.

https://student.edly.co/?utm_source=goo ... QhEALw_wcB

I am also a big proponent of an 18-24 month national service or military service program for HS graduates. Will cost government but I believe the societal return would be worth it. More productivity.

[Farfromgeneva]

Given that the sheepskin is the ticket to riches, why the need for student loan forgiveness?
I don't think you'd have to travel too far out of your circle to find more than one college grad
not making six figures. Further, six figures is a far cry from what it once was. Looked at the
price of cars lately? Houses, rent, health insurance?

... For those who belong in college, it can be a ticket to riches, for those who don't it is a ticket to bankruptcy in many cases. As a society we have way too many people in college that don't belong anywhere near a traditional college campus. Mommy and daddy are the problem. The bankers and all the middlemen are more than happy to take advantage of the situation. It also negatively impacts the educational mission of colleges. Sorry if that sounds elitist, but it is the truth.

Trade schools are the answer, but they are not good enough for mommy and daddy.

Yeah except you forgot that the educational community benefits more than the bankers from this system. Let’s move off the easy target because you could kill every banker (I’m going down zombieland style if you come after me) because solving the problem means rooting out all the perverse incentives and I see a a** ton (that’s a scientific term) within the higher Ed system. Look at Columbia recently and temples online MBA program in the last few years. The way you describe it is as if they haven’t gladly fed off this system but rather everyone in high ed is victims of this. Maybe not your intent but it’s always the bankers and yet every time they address the issues with the bankers the problem still exists then what?

I don’t know exactly how it works but one of my best friends father ran the graduate psych dept at SUNY Binghamton, was a good person, but somehow made money of the grants he received. Or filtered into his personal living heavily. Got the sense this isn’t uncommon.

All the jobs that maybe shouldn’t exist for mediocre PhDs. The ones who filter into micro issues but aren’t really advancing research just half a**ing teaching and half a**ing publishing.

College faculty ain’t getting rich. Administration is a different story.

And all the useless middle management fat. I’m not saying rich but like all these guys who don’t go into the real world but camp it up after playing college Lax who really need to work in the real world rather than further bastardize the future of the game for their own benefit.

The President Hobart brought back (Mark Gearan) after the lady from Wesleyan quit because it was too hard was making a half stick in the 2000s when our endowment didn’t grow at all…nice guy but terrible leader which is what we’ve got to look forward too next few years in geneva. Gearan is longest tenured in the last century despite accomplishing little having replaced a dude who got tossed from Trinity after we moved from him that was reported as the shortest tenure of a college president in history at the time. (Dick Hersh)

Meanwhile our faculty is underpaid. But they have too much stroke and have cost the institution and it’s constituents a lot by their insular nature. Pay the newer ones bounce the older ones that don’t know their place and want to play administrator.

[Farfromgeneva]

Completely agree.

Will say again, TLD, with all those college grads making six figures there is no need for student loan forgiveness, there should be no such discussion. The math doesn't work there....or they should have learned how to manage money with all that education.

You will not find an example of an 18 year old recent HS grad with no credit history that was given a $30K car loan at any bank anywhere, Ffg. I can tell you with a couple of decades of experience that flat out aint gonna happen. You can find probably millions of examples of 18 year olds given $30K student loans with the wave of the magic wand though, despite the fact that they have no idea where they're going to be working or what they're going to be doing to pay that loan back. In TLD's world they'll all be making six figures but in the real world that aint happenin'.

JHU72 is right on the money, IMO. Sure, there's value in a college education but it aint for the masses as is shoved down pretty much everyone's throat, and it aint worth what it used be. You see darn near all college grads making six figures, TLD, in the real world I've seen many college grads who couldn't get a car loan because their debt to income ratio was way too high (student loans put a hurtin' on a hurtin' on you for a long time). Hopefully Mommy and Daddy's credit is still good enough to be co-buyers, otherwise the six figure earning college grad aint gonna be driving no new car. Lot of people need to re-think college.
https://www.youtube.com/watch?v=_x5SeXNabd8

I am talking about odds. I believe I mentioned trade schools and community colleges being utilized more effectively. I am ambivalent regarding the student loan bailout. The government was a catalyst to the problem, in someways. Philosophically, I can see my way to supporting the idea that the government participate in the downside. Bailed out mortgage back security market at one time. Auto industry another. Now throwing money at chips….Some things are more complex than “see spot run”…. As for high wage earners, their loans shouldn’t be forgiven. That’s a good idea. Scale the forgiveness. Neither of mine borrowed a single $. I planned and saved starting day 1. I had the money so I paid the money. My belief is that there are many affordable colleges in this country but parents don’t want to send their kids to them. Do a search. I am on the record here.

I am indifferent regarding the bailout. Nobody forgave my student loan. I made sure my kids didn’t need one. Money played no role in my kids college selection decision. Turned down plenty because we planned.

Again, I am talking about odds. You can discourage college to those you can influence if you want. I support a college education or some form of post HS education. Helped my old admin assistant direct her two boys to trade school and got them interviews with metal shops with apprentice programs for HS kids….. College isn’t for everyone.

To be clear a couple of people using this incrementally doesn’t change my life but just to share an entity I’m working with on their capital side check this out. I do think it’s the wave of the future (once regulated banks and their regulators can structure the variable Cash flows to fit the rules around date certain repayment of CF-by definition if you can’t define the balloon and balloon date it’s non performing this was an issue with FFElP bonds held by banks a few years back).

https://student.edly.co/?utm_source=goo ... QhEALw_wcB

Private, no co-signer. Right now they only do Jrs and Srs and only Nursing and STEM so both reduce the early dropout default cohort plus are trying to capture specific major to work data, nursing they’ve got almost locked down like govt employment. Capped at 19.5% they’re averaging mid teens yield (IRR calc) so far with a 5%ish default rate though they expect it to be 8-12% in troughs.

As they can get more capital and are just breaking to profitability q1 of 2023 still on path, they want to evolve and grow it horizontally to offer to other students. Next up is an ESG play for teachers and other areas but haven’t closed that pool of capital yet and none of this is ready for banks to warehouse yet-I’ve tried.

https://student.edly.co/?utm_source=goo ... QhEALw_wcB

I am also a big proponent of an 18-24 month national service or military service program for HS graduates. Will cost government but I believe the societal return would be worth it. More productivity.

I kicked the tires on peace corps but an older friend bailed like 3mo early on his which had me rethink that.

For Edly it’s an esg play. But whatever works right? There’s a dearth of real esg investments relative to the capital allocated at the moment so this would be better.

[Farfromgeneva]

Completely agree.

Will say again, TLD, with all those college grads making six figures there is no need for student loan forgiveness, there should be no such discussion. The math doesn't work there....or they should have learned how to manage money with all that education.

You will not find an example of an 18 year old recent HS grad with no job or credit history that was given a $30K car loan at any bank anywhere, Ffg. I can tell you with a couple of decades of experience that flat out aint gonna happen. You can find probably millions of examples of 18 year olds given $30K student loans with the wave of the magic wand though, despite the fact that they have no idea where they're going to be working or what they're going to be doing to pay that loan back. In TLD's world they'll all be making six figures but in the real world that aint happenin'.

jhu72 is right on the money, IMO. Sure, there's value in a college education but it aint for the masses as is shoved down pretty much everyone's throat, and it aint worth what it used be. You see darn near all college grads making six figures, TLD, in the real world I've seen many college grads who couldn't get a car loan because their debt to income ratio was way too high (student loans put a hurtin' on you for a long time). Hopefully Mommy and Daddy's credit is still good enough to be co-buyers, otherwise the six figure earning college grad aint gonna be driving no new car. Lot of people need to re-think college.
https://www.youtube.com/watch?v=_x5SeXNabd8

The only way I could prove it is to show you docs on small loan scoring models implemented by many banks which would be illegal so I guess you’ll have to believe what you believe and presume my experience is worth far less in this area than yours or that I’m lying. Sorry.

[Farfromgeneva]

Completely agree.

Will say again, TLD, with all those college grads making six figures there is no need for student loan forgiveness, there should be no such discussion. The math doesn't work there....or they should have learned how to manage money with all that education.

You will not find an example of an 18 year old recent HS grad with no credit history that was given a $30K car loan at any bank anywhere, Ffg. I can tell you with a couple of decades of experience that flat out aint gonna happen. You can find probably millions of examples of 18 year olds given $30K student loans with the wave of the magic wand though, despite the fact that they have no idea where they're going to be working or what they're going to be doing to pay that loan back. In TLD's world they'll all be making six figures but in the real world that aint happenin'.

JHU72 is right on the money, IMO. Sure, there's value in a college education but it aint for the masses as is shoved down pretty much everyone's throat, and it aint worth what it used be. You see darn near all college grads making six figures, TLD, in the real world I've seen many college grads who couldn't get a car loan because their debt to income ratio was way too high (student loans put a hurtin' on a hurtin' on you for a long time). Hopefully Mommy and Daddy's credit is still good enough to be co-buyers, otherwise the six figure earning college grad aint gonna be driving no new car. Lot of people need to re-think college.
https://www.youtube.com/watch?v=_x5SeXNabd8

I am talking about odds. I believe I mentioned trade schools and community colleges being utilized more effectively. I am ambivalent regarding the student loan bailout. The government was a catalyst to the problem, in someways. Philosophically, I can see my way to supporting the idea that the government participate in the downside. Bailed out mortgage back security market at one time. Auto industry another. Now throwing money at chips….Some things are more complex than “see spot run”…. As for high wage earners, their loans shouldn’t be forgiven. That’s a good idea. Scale the forgiveness. Neither of mine borrowed a single $. I planned and saved starting day 1. I had the money so I paid the money. My belief is that there are many affordable colleges in this country but parents don’t want to send their kids to them. Do a search. I am on the record here.

I am indifferent regarding the bailout. Nobody forgave my student loan. I made sure my kids didn’t need one. Money played no role in my kids college selection decision. Turned down plenty because we planned.

Again, I am talking about odds. You can discourage college to those you can influence if you want. I support a college education or some form of post HS education. Helped my old admin assistant direct her two boys to trade school and got them interviews with metal shops with apprentice programs for HS kids….. College isn’t for everyone.

Never should’ve bailed out the others. Makes me clean to fight against student loan forgiveness as I’m pretty intransigent on that. Right in the middle of it in 8 in NYC I still maintain we never should’ve bailed Bear w JPM backstop or the other actions taken and the auto industry was the worst IMO because i watched Ford prepare for a downturn a few years earlier got liquid, restructured when times were still ok and don’t need a penny. That was bailing out bad management which very much does lead to moral hazard.

I could make the mathy argument that it’s better to live a barbelled life than play the average individually but the barbell isn’t do nothing or even trade school. It’s do everything you wouldn’t or couldn’t do with college.

[PizzaSnake]

This is not really that difficult. As the industrial base receded and morphed into a much smaller, higher skill arena (programming CNC machines), the educational industry has expanded and has not delivered marketable skills. In addition, the complete abnegation of training by corporations has yielded part of the imbalance.

Now that employers realize “remote work” is a thing, the bloodbath among the “white collar” ranks will be genocidal.

How can the US compete with countries and cultures that truly value education and development of the “wetware”? Let me answer that: it can’t. National, shared values and interests are a thing of the past. Welcome to an international “dog-eat-dog” existence. Leaven that with increasing, widespread precarity due to shortages of the big three (shelter, water, and sustenance), and the future looks grim. Most firearms will probably used as a personal “exit” strategy.

Or just keep whistling past the graveyard. “Where ignorance is bliss…”

[Typical Lax Dad]

This is not really that difficult. As the industrial base receded and morphed into a much smaller, higher skill arena (programming CNC machines), the educational industry has expanded and has not delivered marketable skills. In addition, the complete abnegation of training by corporations has yielded part of the imbalance.

Now that employers realize “remote work” is a thing, the bloodbath among the “white collar” ranks will be genocidal.

How can the US compete with countries and cultures that truly value education and development of the “wetware”? Let me answer that: it can’t. National, shared values and interests are a thing of the past. Welcome to an international “dog-eat-dog” existence. Leaven that with increasing, widespread precarity due to shortages of the big three (shelter, water, and sustenance), and the future looks grim. Most firearms will probably used as a personal “exit” strategy.

Or just keep whistling past the graveyard. “Where ignorance is bliss…”

Far more complicated than the See Spot Run conclusion that college is worthless. Anyway, The Road may not be too far off…..

[a fan]

I first learned of the prominence that German trade schools hold and how the trade school path is a different, not lesser path, in that country. The chairman of the first bank that I worked for would talk about that system and would bring in young German interns that we got to know. I have been in favor of it. We actually hired an young intern here that graduated from a vocational HS, then a local college. Ended up at PWC and now at a boutique shop. Worked as a HVAC tech to pay for college.

A German friend at the German Brewing School I attended told me "that's the problem with America's education system....they treat everyone like they're going to be doctors".

The downside to the German system---or at least when I was there in the 90's-------was that it was very clearly a caste system. Or at least that's how it appeared to me in my 20's.

But it has tremendous upsides. Not everyone needs to be a doctor. Or sit in a cubicle. I think our graduate rates would be quite a bit higher if we had tracts for kids, to let them follow their interests within reason.

And most importantly, imho, to show kids the other paths. For example, I had NO IDEA that I could start a business when I left High School. Not a clue. Thought that rich kids got to do that, and that option wasn't available.

We need to help kids plant some seeds, and give them the tools to succeed. That requires change, and Americans DESPISE change, imho.

[Farfromgeneva]

I first learned of the prominence that German trade schools hold and how the trade school path is a different, not lesser path, in that country. The chairman of the first bank that I worked for would talk about that system and would bring in young German interns that we got to know. I have been in favor of it. We actually hired an young intern here that graduated from a vocational HS, then a local college. Ended up at PWC and now at a boutique shop. Worked as a HVAC tech to pay for college.

A German friend at the German Brewing School I attended told me "that's the problem with America's education system....they treat everyone like they're going to be doctors".

The downside to the German system---or at least when I was there in the 90's-------was that it was very clearly a caste system. Or at least that's how it appeared to me in my 20's.

But it has tremendous upsides. Not everyone needs to be a doctor. Or sit in a cubicle. I think our graduate rates would be quite a bit higher if we had tracts for kids, to let them follow their interests within reason.

And most importantly, imho, to show kids the other paths. For example, I had NO IDEA that I could start a business when I left High School. Not a clue. Thought that rich kids got to do that, and that option wasn't available.

We need to help kids plant some seeds, and give them the tools to succeed. That requires change, and Americans DESPISE change, imho.

Yeah I’ve mentioned a close German friend in college plus working for Commerzbank back in the day and always appreciated the apprentice system. Work a full year or two for IBM, Siemens, WestLB, etc. in between college.

Edit friend works in Germany for this company last half dozen years or so. Don’t know much about it but looks like an interesting business.

https://www.realalloy.com/na/#

She is in Grevenbroich, North Rhine-Westphalia now.

[Farfromgeneva]

I first learned of the prominence that German trade schools hold and how the trade school path is a different, not lesser path, in that country. The chairman of the first bank that I worked for would talk about that system and would bring in young German interns that we got to know. I have been in favor of it. We actually hired an young intern here that graduated from a vocational HS, then a local college. Ended up at PWC and now at a boutique shop. Worked as a HVAC tech to pay for college.

A German friend at the German Brewing School I attended told me "that's the problem with America's education system....they treat everyone like they're going to be doctors".

The downside to the German system---or at least when I was there in the 90's-------was that it was very clearly a caste system. Or at least that's how it appeared to me in my 20's.

But it has tremendous upsides. Not everyone needs to be a doctor. Or sit in a cubicle. I think our graduate rates would be quite a bit higher if we had tracts for kids, to let them follow their interests within reason.

And most importantly, imho, to show kids the other paths. For example, I had NO IDEA that I could start a business when I left High School. Not a clue. Thought that rich kids got to do that, and that option wasn't available.

We need to help kids plant some seeds, and give them the tools to succeed. That requires change, and Americans DESPISE change, imho.

Just saw this while on commercial of game:

It's been a year of planning and dreaming, but today I am thrilled to announce a new company built to address the biggest challenge facing the SBA lending industry - the massive talent crisis that’s hampered the industry's growth and driven employment costs to unsustainable levels. 

Today I and my co-founders Karen McHugh, John Handmaker, Shane Lewis, and Alan Faulk are announcing the launch of Shatterbox--a program that will solve the SBA employment crisis by recruiting a new generation of talent into an innovative 1-year apprenticeship program. 

How will it work? Think old-school bank rotational learning programs, but exclusively for SBA. We'll help SBA lenders hire quality employees at a fraction of the cost; we'll provide a Fortune 100-level e-learning environment to guide their 1-year Apprenticeship; and we'll provide a robust toolkit to help lenders effectively mentor Apprentices through that year. All this will be guided and moderated by SBA Subject Matter Experts all over the U.S.

We are not doing it alone! 13 of the brightest minds from all parts of our industry—Department Managers, Bank CEOs, BDOs, and top Vendors—have joined our Advisory Council and we are building quickly towards a beta launch next Spring, and plan to begin the program’s first cohort in Q3 2023. 

Head over to our website (link in comments) to sign up for updates, or DM me if you’re interested in the program or in being a Subject Matter Expert. Join Shatterbox as we solve the SBA Talent Gap.  

[Typical Lax Dad]

I first learned of the prominence that German trade schools hold and how the trade school path is a different, not lesser path, in that country. The chairman of the first bank that I worked for would talk about that system and would bring in young German interns that we got to know. I have been in favor of it. We actually hired an young intern here that graduated from a vocational HS, then a local college. Ended up at PWC and now at a boutique shop. Worked as a HVAC tech to pay for college.

A German friend at the German Brewing School I attended told me "that's the problem with America's education system....they treat everyone like they're going to be doctors".

The downside to the German system---or at least when I was there in the 90's-------was that it was very clearly a caste system. Or at least that's how it appeared to me in my 20's.

But it has tremendous upsides. Not everyone needs to be a doctor. Or sit in a cubicle. I think our graduate rates would be quite a bit higher if we had tracts for kids, to let them follow their interests within reason.

And most importantly, imho, to show kids the other paths. For example, I had NO IDEA that I could start a business when I left High School. Not a clue. Thought that rich kids got to do that, and that option wasn't available.

We need to help kids plant some seeds, and give them the tools to succeed. That requires change, and Americans DESPISE change, imho.

Probably partly due to being a 20 year ole American. A guy here locally was a plumber. 40 years later he is a prolific commercial real estate developer.

[Typical Lax Dad]

More bad news:

https://twitter.com/tansuyegen/status/1 ... 07680?s=21

[Farfromgeneva]

More bad news:

https://twitter.com/tansuyegen/status/1 ... 07680?s=21

I will say it again, Trap music SUCKS

[Typical Lax Dad]

[Typical Lax Dad]

[Typical Lax Dad]