Sajay Samuel: How college loans exploit students for profit
Sajay Samuel: Wie Studenten von Studienkrediten ausgebeutet werden
Professor Sajay Samuel's proposal to reduce the burden of student loans is part of his larger preoccupation with thinking beyond the conventional categories of economics and ecology. Full bio
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for their passage to the new economy.
in die neue Wirtschaft verschuldet.
more than one trillion US dollars.
nun über eine Billion Dollar.
that is secured on their person.
gets a second chance.
their student loan debts.
Studienschulden erlassen werden.
ein Studium in den USA nicht,
graduating with debt.
graduated from Colorado State University
schloss die Colorado State University
kostenlos oder fast kostenlos,
as a public good.
öffentliches Gut betrachtete.
from Colorado State University,
State University besuchte,
by working part-time.
durch Teilzeitarbeit.
was affordable, reasonable,
leistbar und angemessen.
you paid off by graduation date.
waren beim Abschluss abbezahlt.
vor fünf Jahren abschloss,
einen Kredit aufnehmen,
has become unaffordable
amerikanischen Familien
an expensive education
sind nicht so schlimm,
höheren Einkommen tilgen kann.
that you earned from it.
meets the road.
earned 10 percent more in 2001
than a quarter of those who must
mehr als ein Viertel der Schuldner
nicht mehr abzahlen können?
can be the best of times,
können die besten sein,
die man nicht mehr ignorieren kann.
in ways that you can't ignore.
is a consumer product you can buy.
eine käufliche Ware ist.
just as the economists do now,
wie es Ökonomen tun,
to improve the human stock
das Humankapital verbessert,
to sort and classify people
sortiert und klassifiziert man Menschen,
can hire them more easily.
leichter einstellen können.
ranks colleges
bewertet Hochschulen
rates washing machines.
Waschmaschinen.
and soccer and science,
und Naturwissenschaft
of the student loan industry.
der Studienkreditbranche.
of 1.2 billion dollars.
einen Gewinn von 1,2 Milliarden Dollar.
and packaged and sliced and diced,
abgepackt und zerstückelt
diese gesicherten Kredite investieren,
winkenden Geldes überrascht,
in the higher education business
und eine Lockvogeltaktik setzen?
die sie vorgeben zu bilden.
that they pretend to educate?
Konsumenten behandelt werden,
of addiction and envy."
von Sucht und Neid."
upgraded versions of an iPhone,
und wiederverkauft werden können,
more and more education.
Bildung verkauft werden.
und weitere Zertifikate verkauft werden,
on certifications and recertifications,
as a status object.
als Statussymbol beworben.
of a Louis Vuitton bag,
eine Louis-Vuitton-Tasche kaufen,
of envy of others.
hidden by a very noisy sales pitch.
von lautem Marktgeschrei übertönt.
on television telling us,
im Fernsehen uns erzählt:
to a middle-class life."
der Mittelschicht zu führen."
is the college premium:
die College-Prämie angeboten:
56 percent more than a high school grad.
56 % mehr verdient als ein Abiturient.
working as baristas and cashiers.
die an Bars und Kassen arbeiten.
in any form of post-secondary education,
der Tertiärbildung beginnen,
including financial.
than high school grads,
mehr als Abiturienten,
überzogenen Studiengebühren
während des Studiums auf?
for only those who complete it.
für die auszahlt, die es abschließen.
have been cut to the bone,
für Abiturienten seit Jahrzehnten
of what they have produced.
a bad investment for many.
eine Fehlinvestition.
are not going to find an adequate job.
finden keine passende Arbeit.
doesn't look particularly promising --
about this college premium thing.
higher education as a consumer product?
höhere Bildung als Ware behandeln?
wofür man bezahlt.
what you're paying for.
miles per gallon to expect.
erwartenden Benzinverbrauch.
von einem Abschluss
erwarten kann.
to the expected income.
mit dem erwartbaren Einkommen verknüpft.
einkommensbasierte Studiengebühren.
haben drei Vorteile.
from a given college and major.
ein Studienabschluss bringen wird.
to the huckster's ploy,
of the additional income they earn?
zusätzlichen Einkommens zahlen?
haben einen weiteren Vorteil.
to Income-Based Tuition.
der Kosten mit dem Einkommen
to manage costs better,
die Kosten besser verwalten
the same tuition for every major.
gleich viel Studiengebühren.
and should change.
und sollte sich ändern.
mehr Ressourcen,
as a consequence,
goes on and earns more money.
buy the same product,
dasselbe Produkt kaufen,
half or a third of the service.
die Hälfte oder ein Drittel des Service?
für die Rückzahlung ihres Kredites auf,
servicing their student debt,
when majors are priced more correctly.
wenn Studiengänge korrekte Preise hätten.
gut gepflegt werden,
of Income-Based Tuition,
einkommensbasierter Studiengebühren
and the fact of financial ruin
der Angst und Tatsache finanziellen Ruins
eines schadhaften Produktes.
wiederentdecken,
that they really want to.
wirklich interessiert.
von jungen Männern waren,
students in America.
Amerikas Studenten zu beleuchten.
ABOUT THE SPEAKER
Sajay Samuel - EducatorProfessor Sajay Samuel's proposal to reduce the burden of student loans is part of his larger preoccupation with thinking beyond the conventional categories of economics and ecology.
Why you should listen
Sajay Samuel is an award winning professor of accounting at the Smeal College of Business at Penn State University. He has organized seminars and lectured widely in Europe and elsewhere on a range of topics, including science and technology, the political economy of professions and decision theory.
Samuel received his Masters in Accounting and Ph.D in Business Administration from Penn State University in 1990 and 1995 respectively. Since then he has taught management accounting and related subjects to undergraduates, graduates, MBAs and Executives over assignments that included stints at Bucknell University and the University of Connecticut. He returned to Penn State in 2003 and now teaches a capstone course to all undergraduate business majors titled, "Business and Industry Analysis."
Samuel was awarded the 2006 Lester J. Shonto Faculty Award for Excellence in Accounting Education. Dr. Samuel's research has been published in such scholarly journals as Accounting, Organizations and Society, Administration Science Quarterly and Symbolic Interaction. His most recent work on accounting, technology and on the history of ideas, has appeared in three articles in the Encyclopedia of Science, Technology and Ethics (2005). His current research aims at clarifying the political implications of accounting practice. His studies in this area concern the political significance of administrative agencies and professional associations in liberal democratic polities. He has presented the early fruits of this work in France, Italy, Germany and England.
Sajay Samuel | Speaker | TED.com