Student loans and the party of no - Page 2 - TigerDroppings.com

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Mo Jeaux
LSU Fan
NYC
Member since Aug 2008
12394 posts

re: Student loans and the party of no


quote:

That is precisely the type of education the Founding Fathers had.


And which you cannot find in most Universities now. The foundation for that type of education has been replaced by "area studies," which IMO are not studies at all.

I'm kind of in the middle on this. I do think that a "well rounded liberal arts" education is important. I just don't believe that it is important enough to justify a degree that costs 10s or 100s of thousands of dollars.






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Freauxzen
USA Fan
Louisiana
Member since Feb 2006
20570 posts
 Online 

re: Student loans and the party of no


quote:

Of course it won't do much for those currently saddled with debt, but it would make a huge difference for the next generation, and every generation to follow. Tuition rates are currently outpacing healthcare rates. Ending the infinite money supply will deal a massive blow to these infinitely increasing prices.


Completely agree, I still wouldn't tie anything to degree choice. That's just bad territory to be in.

quote:

But not everyone is going to college for the same reason. There's nothing wrong with going to college for "the experience" or to be a well-rounded individual. But again, that's not the only reason people go to college.


Precisely, which is why the cost issue is so problematic.

I think "the experience," just like culture mentioned, is a problem. College went from being, a place where you go to specify your intellectual pursuits, to "a place everyone goes between high school and job acquisition," again, this came before infinite money, that's what you have to fix.






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Elcid96
LSU Fan
Member since May 2010
5269 posts

re: Student loans and the party of no


Funny college is suppose to get you ready for the real world, so we tell kids they get to take out loans that are special.

Why is it so hard for people to act responsible and pay back their loans or not go to college if they can't? Once again gov involvement in dolling out money has caused tuition to get raised, so a feel good gov policy screws something up yet again. Awesome.






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moneyg
LSU Fan
Member since Jun 2006
18757 posts

re: Student loans and the party of no


quote:

'm not saying the idea, or direction, is bad, but rates and amounts should not be tied to degrees,


It should be tied to the likelihood that the loan can be repaid. He is saying that it is less likely that a loan for a student majoring in liberal arts get paid vs. a sciences degree.

Whether his assumption is correct or not is irrelevant since the lenders themselves would be able to accurately determine the risk. So, in the end, if the degree chosen is an indicator of risk, the rates should absolutely should be tied to it.

All of this seems lost on you.






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Freauxzen
USA Fan
Louisiana
Member since Feb 2006
20570 posts
 Online 

re: Student loans and the party of no


quote:

Why is it so hard for people to act responsible and pay back their loans or not go to college if they can't?


Because Culture elevated college to a necessity for everyone. So people can't just "not go to college."

It's a gateway that everyone has a right to, that IS a problem.






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Elcid96
LSU Fan
Member since May 2010
5269 posts

re: Student loans and the party of no


Yep you can hear it now... "It's not fair only the rich go to college"





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DumpsterFire
Arkansas Fan
Member since Sep 2012
948 posts

re: Student loans and the party of no


quote:

Make them dischargeable in bankruptcy.


Then, people could graduate, declare bankruptcy, and get off without having to pay their student loans back. Since you can arrange to graduate with no assets in your name, the government won't be able to confiscate anything for defaulting on your loans.






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Mo Jeaux
LSU Fan
NYC
Member since Aug 2008
12394 posts

re: Student loans and the party of no


quote:

Then, people could graduate, declare bankruptcy, and get off without having to pay their student loans back. Since you can arrange to graduate with no assets in your name, the government won't be able to confiscate anything for defaulting on your loans.


Then maybe that will bring some discipline to the lenders (which includes the government). Look, I'm all for personal responsibility, but it kind of amazes me that some of you would hold 18 year olds to a higher standard in a financial transaction than the government and sophisticated financial institutions. I think we need to bring some discipline to both sides of the student loan fiasco.



This post was edited on 6/26 at 5:24 pm


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JohnnyKilroy
New Orleans Pelicans Fan
Member since Oct 2012
8276 posts
 Online 

re: Student loans and the party of no


quote:

Then, people could graduate, declare bankruptcy, and get off without having to pay their student loans back. Since you can arrange to graduate with no assets in your name, the government won't be able to confiscate anything for defaulting on your loans.



Sounds like a great plan.

I'm sure it will be easy to buy a car, rent an apartment, buy a house, get a (real) job, etc. after declaring bankruptcy at 21 years old.






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DumpsterFire
Arkansas Fan
Member since Sep 2012
948 posts

re: Student loans and the party of no


quote:

Sounds like a great plan.

I'm sure it will be easy to buy a car, rent an apartment, buy a house, get a (real) job, etc. after declaring bankruptcy at 21 years old.


Would it be easier to do that or pay off 150K in student loans with interest? Also, you could probably get your parents to give you some money for an apartment or a down payment on a car. This rule just keeps people from abusing the bankruptcy code to get a free college education.






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JohnnyKilroy
New Orleans Pelicans Fan
Member since Oct 2012
8276 posts
 Online 

re: Student loans and the party of no


quote:

Would it be easier to do that or pay off 150K in student loans with interest? Also, you could probably get your parents to give you some money for an apartment or a down payment on a car. This rule just keeps people from abusing the bankruptcy code to get a free college education.



Lol no it wouldn't.

Lenders can just require a cosigner for someone coming straight from high school or below a certain age.






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LSULaw2009
LSU Fan
Baton Rouge
Member since Feb 2008
863 posts

re: Student loans and the party of no


The government (especially at the state level) is playing a big role in helping contribute the higher costs of higher education.

Louisiana is a great example. The State, instead of funding higher education (especially the administrative and facility portions) through traditional means, continues to more towards forcing state universities to rely primarily on tuition to run the entire university. That resulting higher tuition is unfortunately largely paid through student loans (non-dischargeable) and in some part by government grants (including TOPS). The State other than stresses on TOPS (which can be overcome by capping awards) basically is shifting the burden of funding public higher education from itself onto students and lenders.

Hell the way things are going each year these mid year cuts are getting closer and closer to being a full withdrawal of state funding (other than TOPS).

The way things are going, in another decade, the state universities could just tell the State to go @#@ itself and consider themselves private.






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