300k to learn how to shoot pictures??? Using what?? Hubble? This is a joke right??

No sympathy here. Maybe she should have majored in math and DONE the math after the first year and left. This will be like the credit card defaults except these loans will never go away. She can kiss off her social security. It will be confiscated(as is being done by those that defaulted and blew off student loan debt in the 70s) Now their real education begins.

You're ignorant to the fact that the job landscape changes dramatically in just a few years.

People like you playing hindsight, screaming that everyone should have majored in engineering will be playing hindsight in 10 yrs when all those engineers go out of work and they need some other, more specialized job. It was the same thing 15 yrs ago with computer programming.

So did she choose a bad career path given the money required? Sure, but then that can happen to practically any profession.

Well, engineers ain't goin' outta work anytime soon! And anthropology never had and will never have any gainful employment opportunities!

Don't forget about the Philosophy majors. Sure seemed like there were a lot of them at the "Occupy" movements. Hmmm...a philosophy major wondering about the lack of employment prospects. There's an irony in that...

Guess the general thinking in the USA that a college/university degree is just that, and all of them are more or less equal. Some employers are also to be blamed for encouraging this. They think that anybody with any major can do most any work! That is simply not true!

There is this glamor quotient in the liberal arts. Thinking at the level of the great philosophers, learning about ancient cultures, and visiting foreign land and spending time "researching" various things there! But in the end, how many of those people do we need to "guide us" in the modern world?

Yeah, some of them will eventually get an MBA and become one of those high-flying CEOs; but the majority will end up in some sort of support function!

To be employed or to not be employed, that's the question. LOL

I was a Philosophy major. I just never imagined that I'd rely on THAT to pay the bills - I knew I was going on for a professional degree. I was glad I trained my brain with Philosophy, but I had to learn something useful to DO with that brain once I did.

Bingo. Couple one made bad career choices and now they are responsible for those bad choices.

Sorry Photography and antropology were dying fields years ago.

I feel like I'm talking to people that aren't smart enough to comprehend what HINDSIGHT is.
Yes, NOW we see that photography is probably regressing but 2 yrs ago it may have looked like it was just another victim of the global depression and not necessarily a career specific issue.

Either way, my point was that people shouldn't be demonizing kids for choosing what appealed to them without throwing an even greater amount of blame at the banks for obvious predatory lending

Oh, COME ON. Are you seriously arguing that photography has EVER been lucrative enough for it to be reasonable for an average photographer to spend $300K getting a degree?

Your overall point is worth discussing, but that particular example is just ridiculous. It also ignores the question of HOW she got that much in loans - as other posters have said, it seems likely, or at the very least possible, that she misled several different institutions as to how much debt she already had.

That was part of my point.
The bank KNOWS what major the person is going for so why would the bank lend that much out knowing the average pay in that field unless there was some extenuating circumstance?
I don't think she misled anyone. I think they bank approved the loan because they can. Because they know that these students will owe for life and have no recourse except leaving the country.
And why wouldn't they do it? They've already shown themselves MORE than capable during this most recent mortgage bubble/crisis.

re-read my short post carefully: YEARS AGO 10-15 years ago already Photography was a dying field.. Anthropology has beend dying for decades.

LoL don't blame me for your lack of detail and use of vague terms. I'm supposed to know that by you saying 'Years ago' that you mean 10-15 years?

common sense but now that is spelt out for you do you understand?

No, actually, ANY time it would have been obvious that photography had ZERO chance of paying back $300K in student loans.
Check the "Occupational Outlook Handbook" that the Federal gov't publishes - most recent median annual income was $29,130. Any glimmer of an idea that such a field could support a $300K student loan debt? Perhaps SOME can - but with that average wage, what are the odds of YOU being that person?
No, sorry, this isn't an issue of second-guessing - it's an issue of her NEVER HAVING A CLUE in the FIRST place.

*fail*

Before instagram...it could have been a viable career field.

Wrong, because there will always be bridges and structures to fix. Mechanical problems to fix, electrical, chemical, biomedical, etc. The reason engineers will be around for so long is because they are problem solvers. They aren't just mastered in one skill anymore. They are taught not just to think outside the box but also economically. We will always need scientists and lawyers as the law constantly changes. Computer programming has died down because now engineers are trained to be skilled computer programmers as well and master new languages and technologies in their career. Engineers are specialized jobs and you clearly aren't an engineer if you don't understand that.

I'm a biomedical engineer graduate student, civil engineer undergrad. I have studied engineering and am still learning it daily in my career as a biomechanical engineer. I have to learn new things daily such as Arduino, new programming languages, building microcontollers, etc while still running some tests on 14 year old programs. I have to learn new skills and apply them to the old ones I have learned. Engineers will never be phased out, sorry.

Engineers will always be around but you're being obtuse if you're saying that today's REQUIREMENTS for specialized engineer classes won't put people out of work as those engineering jobs are phased out and others are phased in.

Engineering might be outsourced or maybe the # of engineers might take a drop. Maybe in 10 yrs b/c of everyone pushing for engineers, there's suddenly too many. You don't know what the future holds and pretending to know just makes you and the others on this article seem more self-serving and biased

I picked a career in healthcare partially b/c of the pay but also partially because of influences from my parents. Stop worshipping yourself for a moment and realize that not every 18 yr old has the proper parental influence in picking a career or funding their education. I'm not perfect and I could easily see being 18 with no parental help and being overwhelmed and not thoroughly vetting my decision.

There will never be too many engineers because engineering requires hard work and in America, hard work is a scary thing for most. Not many people can cut it through an engineering program because they are so trained to take it easy in life. Engineers aren't going anywhere anytime soon.

Enrollment in engineering programs is down. Less than half of students that start as engineers end up finishing. Tech is getting bigger and bigger. The need for engineers is growing, while the supply is dwindling. Thats why companies are backing less strict immigration laws, because we don't have enough engineers to meet their demand.

Funkdrspot, I don't quite get your argument about "requirements". The driver for requirements in a technology based field is the product itself (market demand and portfolio management) and the technology to make the product (efficiency, new software, machinery, innovations, etc. to drive market place competitiveness). If a company changes it's business stand point and goes to a different product (or business unit), it doesn't necessarily mean that everyone has to be phased out and new people phased in. Companies evaluate employee capabilities and cost before deciding what and/or who to "phase out". Same with technology changes; just because the aerospace industry is using different technology today then they did 10-15 years ago to build a plane doesn't mean they have phased out everyone who worked there 10-15 years ago to replace them with a different type of specialized engineer class.
And yes, engineers can be diverse and flexible. I know engineers who teach, who do research, who do equipment design, who contract, who work in sales (technical and non technical), who work on process improvement, who manage departments, manage projects, are VPs or CEOs of major companies... and the list goes on.

Tina, very unfortunately, your perception that knowing how to program a couple hundred lines of code makes someone into a programmer is very common. I had a friend learn to program a hand-held calculator, then ask if he could get a programming job! Computer programmers aren't "dying down", they are highly skilled professions that usually require a BS, and sometimes now, an MS. You may (unusually) have multiple degrees and be smart enough to "learn" a new programming language, but I doubt you've ever been through the entire development cycle for a year-long software project. Without that experience, you don't even have a prayer at being a professional grade programmer. You're probably just someone who knows how to tinker. Big difference.

Ignorant?...the job landscape changes dramatically in just a few years.? You're right on that part. With 350k jobs going out the window a WEEK, I guess recovery is just around the corner and there will be jobs a plenty. Talk about ignorant. BTW, there is no recovery.

Red Herring and stop self-voting.

Keep your head buried in the sand...or wherever you have it buried.

So your rant about a jobless recovery somehow connects to the article or my point about how there are ALWAYS people like you who use hindsight to criticize others? its a non-sequitur.
Its obvious you didn't go to college since you dont' even know that you're using a red herring or even what a red herring is, so why are you on this article?

LMAO. Yeah, you pegged it. After I returned from Vietnam in 1970, I put myself thru college and have been in the business world ever since. It took me 20yrs to unload the BS I was fed in college. BTW, what were you doing in 1970?

What about your college education in 1970 corresponds to the cost of college in 2013?
The price has risen exponentially since you went so your anecdotal story about how you put yourself through college doesn't equate to today.
I wasn't alive in 1970 but what does that have to do with anything?

on that point we will agree. College costs are way to high. Something needs to be done about that. Your constant attack on the banks loans is both wrong and missing the point entirely:
The point is these students chose to go to a college, they signed documents to pay back a loan. Thankfully the banks offer students a lower rate loan (especially considering the risks shown in the article).
Funk, you are failing to place any blame on the foolish decisions made mostly by the students themselves.
The first two are prime examples of idiots choosing to study ,at an exorbitant cost, fields that had little to no room for real careers. No its not hindsight, fact anthropolgy has been dead for decades, fact Photography has been dying off for at leadt 10 years. Music will always have some sort of options but too few lead to decent paying jobs. It is a saturated field. The other two are at least working in their fields and over time the income might increase. Also those two are not in as big a hole as the others.

Thankfully? No. The banks do it because the Govt is subsidizing the loan and because the Govt has forbidden the student from filing bankruptcy.

You are failing to place blame on the foolish decisions made mostly by the BANK that FUNDED the loan. I expect more due diligence from a professional banking organization than an 18 yr old.

You continue to harp Photography but there are examples out there under almost every single field, including medicine and practicing physicians.

You remind me of the people that blamed the foreclosure bubble on the lender instead of the banks and now we're moving to the student loan bubble that will be popping in the next 10 yrs. The common denominator is that banks are lending to people who don't qualify b/c they're greedy.

It shows you don't have enough life experience to understand what's going on around you. If I had it to do all over again, I would have leaned a funtional trade, taken a few practical business courses and set sail. College today is a waste of time and money. It does nothing to prepare you for the real world. There is also a trillion dollar student debt bubble that is about to burst. What do you think the ROI is on a college education is that can cost $200k when half the jobs that grads get don't require a degree?

I don't have enough life experience because I'm not your age? What a self serving bias you have.

A functional trade sure in the 70's. What 'functional trade' do you think is still around in 2013 that doesn't require a degree and is firmly middle class? Those are few and far between.

A "functioanal" trade like a mechanic, plumber, electrician etc. A college degree means(unless an engineer etc) you can memorize the garbage you were fed for 4yrs and could recite it back and get a piece of paper. The biggest hurdle you have yet to clear is that you have been lied to in ways you could never imagine. Soon, those lies will be exposed. If you exercise critical thinking skills, I suggest you search some of these sites(in no particular order): zerohedge,mybudget360, shadow stats, globalresearch, undergrounddocumentaries, PaulCraigRoberts(former asst sec treas under Reagan), Gerald Celente, Peter Schiff, Lew Rockwell, G Edward Griffin, blacklistednews, RINF, fromthetrenches, dailybell, veteranstoday, Animal Farm/1984 by Orwell. If you're good with what you are being fed, you need look no further. If you think something has gone really wrong in this country, this will shed light. This is my gift to you. Good luck.

People need to take only as much loan as they can reasonably pay back with the job they anticipate to get and even then I would say they need to put in some kind of buffer, perhaps take 20% less than what they optimistically expect to pay back.

A simple google search will reveal that it's pretty tough to make it as a photographer and it's extremely stupid to assume you can take this kind of a loan and pay it back! Fools.

And again, not that I'm absolving these kids of taking stupid loans or not thinking their career choice through, but how do the bankers come through this squeaky clean?
The bank already knows what school they'r going to, what their major is and what their major's projected career salary will be. Banks know this info when you're trying to get an auto/personal/mortgage loan so how is it that they suddenly lose this info when you need a student loan?
Because they've got a racket where they can give +$100k to an 18 yr old for life with zero chance the student can claim bankruptcy.

No the banks does not konw any of that. They only know that the student has been accepted into college their field of study is their choice not the banks. Banks are not villians in this scenario.

Certain math majors will always be in need, like engineering. It's basic supply & demand. There aren't alot of engineers in the world because most people FEAR math so they pick majors that don't require any math above 3 digit addition & subtraction, LOL.The job market always has had a demand for people who are great at math. For instance, I know a guy, a chemical engineer grad, who works as a Senior Analyst in the banking industry. If you're willing to venture outside of the box, math majors can usually find good paying jobs.

Certain majors will always be in demand but those same majors are beyond most normal people's abilities. To simply say "Ok planet earth, go be engineers" is as much fantasy as trying to make every person a doctor or a lawyer.
This is the reason why engineers and medical professionals stay in demand. They are hard to outsource, they're needed on the job and the person must be of above average intelligence.

Jeez, my brother was an unemployed aerospace engineer in the late 80s-early 90s. No engineering jobs at the time. Hindsite is easy, however, to take 300K in loans is absurd; graduating at 22 with a mortgage payment.

Oh i won't deny it was stupid on the kids part but that's the whole thing, they're 18. Not all of them are going to 100% think things through. And yes, they should be liable for what they do but then again so should the bankers for not vetting the loans they approve.

I am an Engineer from India doing my PhD here. When I borrowed money to come here, my father had to show that he had enough property to pay the loan back as a co-signer. In India there is a saying that "if you want to get a loan from the bank than you have to show them that you don't need it in the first place". I agree that government giving subsidy for student loans is good, but I also feel that it is the moral responsibility of the bank to see the caliber of the students through his mark sheets to make sure he/she will be able to repay the loans.

Please - majoring in art as a career choice in college is like studying sanskrit or dozens of other dead languages, or, let's say, underwater basket-weaving. Sure its fun and interesting and the final exams are easy, but it will not pay any of your bills after you graduate because there is very little demand for that type of work. Dramatic changes in "job landscape" have had no effect on this at all. Either you study something that will lead to successful employment or you will not be able to pay your bills when you graduate - it is that simple. I entered college in the 80's - at that time I fully considered my ability to find work and pay back my student loans (business degree in computers) before I borrowed a dime.

I'll play nice and have a civilized debate if you are willing:
While the job landscape does fluctuate (for example, nursing used to be a profitable major, but now it is an over saturated market) degrees like photography, drama, anthropology, etc. are not going to be big ticket degrees ever again. (for the most part, I'm sure some people will be able to make a career out of said degrees). Way too many people are getting degrees in those fields for a very very few positions. I know it sucks to hear, but you can't be whatever you want to be when you grow up. You can study whatever you want to study, but that doesn't mean you will get to apply the skills. I'm hard pressed to believe this girl couldn't figure out that photography wouldn't lead to a steady paycheck.

I agree that banks are immoral for giving out loans to such people however.

No the banks are not immoral. They are doing what they are supposed to do. Democrats really have too many skewed against the banks. They are doing what they have to by loaning money to students, I believe they have to make a certain percentage of loans which is mandated by our Government to students (which are our future btw). These loans are at a lower rate (especially low considering the high risks)). The Banks get nothing but signatures. They do not tell studetns what college to attend, what course to take or anything that might help the student. The student is fully responsible for their decisions including signing the loan papers.

No the Ignorant one is one who borrows over 100K in loans if they where smart they could have invested that money in a business or something how can you borrow so much money like that.
I agree with you somewhat but these people she probably driving BMW on campus

Go back to being a hooker...that job never goes out of style.

You can't figure out that photography has like 1% odds of paying well enough - ever, under ANY possible scenario - of being lucrative enough to pay for $300K in student loans?
It doesn't take 20/20 foresight to see that one. Fail.

It seems to me she took the photog program out of love of the occupation and not because she felt she could make a living in photography. She's relatively young, so she should have known that the photog field in journalism is dead. She could be an overseas roving photographer, shooting for newspapers overseas or for online content.