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dewster 
Maryland Fan
TN
Member since Aug 2006
4378 posts
 Online
| re: Delinquent student loans surge in Q3 (Posted on 11/28/12 at 12:47 pm to jonboy)
quote:
Student loans ought to be tied to potential future earnings by major or GPA.
I agree.
Someone going to medical school, earning their MBA, or an engineering major at a reputable school are far less risky than someone majoring in graphics design at University of Phoenix or any English major.
You can bet that those low risk students will be paying higher rates in a few years because of those high risk students.
The subsidized student loans don't work either. The potential savings to the student that these "subsidized" loans are completely exploited by the educators to cover massive pay increases for their professors. The costs of a college education has risen obscenely fast partially because of this. I'm not so sure that this wasn't intentional either.
Schools with an unusually high default rate should be barred from government subsidized loans. There is a special place in hell for those "for profit" founders.
This post was edited on 11/28 at 12:53 pm
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WillsTigers 
LSU Fan
New iberia
Member since Sep 2009
147 posts
| re: Delinquent student loans surge in Q3 (Posted on 11/28/12 at 12:58 pm to Doctor Radical)
I am proof that if you don't pay student loans off they will garnish you 15% disposable income every payday till the balance is paid! I paid most back already but I got divorced and was raising my 2 kids by myself and its hard sometimes! That loan payment could mean food on the table and clothes on your child's back at times! Wished I could have deferred ail while longer! But it is what it is pay back your loan or eles! It's my own fault!
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jclem11 
Indiana Fan
Houston, Texas
Member since Nov 2011
2072 posts
| re: Delinquent student loans surge in Q3 (Posted on 11/28/12 at 1:05 pm to Paluka)
I agree. I'm starting to pay mine back and have paid off 2 smaller loans (I started work in August). I am living poorer than I did in college to pay them off ASAP.
quote:
Why can't people accept responsibility for their choices and buckle down?
Entitlement USA. Plenty of retards voted for Obama b/c he was going to forgive their student loans.
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bunky
LSU Fan
FREE EL GUACHO
Member since Jul 2011
4335 posts
| re: Delinquent student loans surge in Q3 (Posted on 11/28/12 at 2:19 pm to jclem11)
As my father in law says, "Life sucks. And then you die. Pay your god damn loans."
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jclem11
Indiana Fan
Houston, Texas
Member since Nov 2011
2072 posts
| re: Delinquent student loans surge in Q3 (Posted on 11/28/12 at 2:23 pm to bunky)
quote:
As my father in law says, "Life sucks. And then you die. Pay your god damn loans."
 I agree. I'm paying mine back and I'm not bitching. That said, I do get annoyed at those that do bitch about having to pay back loans.
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Interception
Providence Fan
Member since Nov 2008
8565 posts
| re: Delinquent student loans surge in Q3 (Posted on 11/28/12 at 2:33 pm to WillsTigers)
quote:
I am proof that if you don't pay student loans off they will garnish you 15% disposable income every payday till the balance is paid! I paid most back already but I got divorced and was raising my 2 kids by myself and its hard sometimes! That loan payment could mean food on the table and clothes on your child's back at times! Wished I could have deferred ail while longer! But it is what it is pay back your loan or eles! It's my own fault!
Thanks for sharing this...
I wish every school during Freshman Orientation had someone like you explaining the consequences.
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SilverSpurs13
LSU Fan
Baton Rouge, LA
Member since Aug 2011
1013 posts
Online
| re: Delinquent student loans surge in Q3 (Posted on 11/28/12 at 2:46 pm to Paluka)
quote:
This really pisses me off. I worked two jobs, 7 days a week for several years to pay off my student loans. Why can't people accept responsibility for their choices and buckle down?
So what you are saying is that you couldn't manage to find a real job.
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Ace Midnight
LSU Fan
Ball, LA - Home, Sweet Home
Member since Dec 2006
14870 posts
| re: Delinquent student loans surge in Q3 (Posted on 11/28/12 at 2:46 pm to joshnorris14)
quote:
I have $12k in two and a half years, but have been paying the interest every month. Trying not to get trapped through deferment.
Been there, done that - had about $65k turn into $135k. Brutal.
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jclem11
Indiana Fan
Houston, Texas
Member since Nov 2011
2072 posts
| re: Delinquent student loans surge in Q3 (Posted on 11/28/12 at 2:51 pm to Interception)
quote:
I wish every school during Freshman Orientation had someone like you explaining the consequences.
I agree. There needs to be some more information given about the consequences of taking out student loans. Most people don't realize the consequences and end up burying themselves in student debt. It will definitely be a drag on the economy for a while.
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McLemore
Member since Dec 2003
9627 posts
| re: Delinquent student loans surge in Q3 (Posted on 11/28/12 at 2:52 pm to TrueTiger)
quote:
I don't see anything in this list that disqualifies a delinquent from welfare, foodstamps, etc.
it's probably a plus.
that list isn't any different from any other debt, really (although it would be hard for non-feds to lien/garnish/seize tax refunds--that's easy to fix though, just don't have excess money withheld). the real bitch is student loans generally are no dischargeable in bankruptcy.
This post was edited on 11/28 at 2:53 pm
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McLemore
Member since Dec 2003
9627 posts
| re: Delinquent student loans surge in Q3 (Posted on 11/28/12 at 2:54 pm to Ace Midnight)
quote:
Been there, done that - had about $65k turn into $135k. Brutal.
Einstein didn't really say it, but it's true what "they" say about compound interest.
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Ace Midnight
LSU Fan
Ball, LA - Home, Sweet Home
Member since Dec 2006
14870 posts
| re: Delinquent student loans surge in Q3 (Posted on 11/28/12 at 4:28 pm to McLemore)
quote:
Einstein didn't really say it, but it's true what "they" say about compound interest.
Yeah - compounded the hell outta me.
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BulldogXero
LSU Fan
Member since Oct 2011
275 posts
| re: Delinquent student loans surge in Q3 (Posted on 11/28/12 at 5:02 pm to Jbird)
quote:
I was in Milwaukee the night of the election. The hotel bar had a handful of idiots high fiving each other and doing shots because Obama won and all their student loans would be forgiven.
If he does this I'll erect a statue of him in my living room.
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Jbird 
Iowa Fan
Odramaville with EthanL
Member since Oct 2012
4868 posts
| re: Delinquent student loans surge in Q3 (Posted on 11/28/12 at 5:04 pm to BulldogXero)
quote:
If he does this I'll erect a statue of him in my living room.
Why wouldn't you! Get something for nothing! 
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BulldogXero
LSU Fan
Member since Oct 2011
275 posts
| re: Delinquent student loans surge in Q3 (Posted on 11/28/12 at 5:06 pm to Jbird)
quote:
Why wouldn't you! Get something for nothing!
Ask the unemployed college graduates what they felt like they got when they graduated.
A big heap of nothing :(
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Jbird
Iowa Fan
Odramaville with EthanL
Member since Oct 2012
4868 posts
| re: Delinquent student loans surge in Q3 (Posted on 11/28/12 at 5:07 pm to BulldogXero)
quote:
A big heap of nothing :(
So? You roll the dice you play the game. Noone made you go to college. 
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jamboybarry
LSU Fan
Rill talk
Member since Feb 2011
8277 posts
Online
| re: Delinquent student loans surge in Q3 (Posted on 11/28/12 at 5:14 pm to BulldogXero)
quote:
BulldogXero
fricking leech
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BulldogXero
LSU Fan
Member since Oct 2011
275 posts
| re: Delinquent student loans surge in Q3 (Posted on 11/28/12 at 5:15 pm to Jbird)
quote:
So? You roll the dice you play the game. Noone made you go to college.
It's not that simple.
I'm 23 years old, and if I were about to enroll in college now, you would have a point; however, that wasn't the case for me, and it's not the case for the majority of graduates.
When you're 18, all you want to to is hang out with friends and chase girls. You live in the moment and are not concerned about your future. All you know is that for your entire life, all you've ever heard is how worthless you'll be without a college degree. Mommy and daddy have worked your entire life to be able to send you to college someday, and you better not disappoint them.
Fast forward 4-5 years, and your eyes have been opened to a whole lot of stuff, completely changing your outlook on life. You realize now that life isn't quite so simple and a college education doesn't buy you all the stuff you were promised for the first 18 years of your life.
You still finish your degree because you're already in debt, but you're almost finished. Your parents freak out over the mere thought of your dropping out of college, but they still have wildly unrealistic expectations of your post-college life that will more than likely come crashing down around them some 4-6 months after you graduate.
We really shouldn't be pushing for 18 year old kids to be making life altering decisions so haphazardly, and I do believe that parents should put some effort into researching post-high school education rather than just following along with what they hear on the news channel.
It's partly because of the government that college education is in the mess it's in anyway. If I get an education like big brother tells me to, it better damn well produce results. If not, I don't "feel" like I really owe the government anything.
I'd say graduates deserve to have their loans forgiven for having been duped into falling into so much debt in the first place.
This post was edited on 11/28 at 5:19 pm
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joshnorris14 
Florida Fan
Florida
Member since Jan 2009
19518 posts
| re: Delinquent student loans surge in Q3 (Posted on 11/28/12 at 5:15 pm to Jbird)
quote:
So? You roll the dice you play the game. Noone made you go to college.
The college children who are brainwashed from birth that college is a necessity and lured in with artificially low interest rates with deferment options are hardly to blame for this problem
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Jbird
Iowa Fan
Odramaville with EthanL
Member since Oct 2012
4868 posts
| re: Delinquent student loans surge in Q3 (Posted on 11/28/12 at 5:19 pm to BulldogXero)
So you are telling me it is everyone else that needs to pay because you aren't smart enough to realize the possible ramifications of your actions. Simply put you get a education and potential realized earnings increased over a lifetime for nothing? GFY 
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