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Started By
Message
At least half of students defaulted or failed to pay down debt within 7 years
Posted on 2/22/17 at 10:08 am
Posted on 2/22/17 at 10:08 am
quote:
The new analysis shows that at more than 1,000 colleges and trade schools, or about a quarter of the total, at least half the students had defaulted or failed to pay down at least $1 on their debt within seven years
LINK
Thoughts?
27
Posted on 2/22/17 at 10:09 am to GreatLakesTiger24
We need a student loan forgiveness program. It is long overdue.
Posted on 2/22/17 at 10:10 am to GreatLakesTiger24
$1? damn...
That being said cost of college is outrageous and it's growing rapidly. Something needs to be done and quickly.
That being said cost of college is outrageous and it's growing rapidly. Something needs to be done and quickly.
This post was edited on 2/22/17 at 10:11 am
Posted on 2/22/17 at 10:10 am to GreatLakesTiger24
Not shocking due to the time period- graduating 07 through say 2010 is just like asking to default even if you had a good career field unless you actually used all of your extensions and deferments.
Posted on 2/22/17 at 10:10 am to GreatLakesTiger24
quote:
Thoughts?
It's almost unbelievable. Almost. But there are so many deferment programs, interest only repayment options, etc. It's frankly ridiculous.
Posted on 2/22/17 at 10:11 am to GreatLakesTiger24
Mandatory military service for those who default. They can pay the g'ment off that way.
Posted on 2/22/17 at 10:11 am to tigerite
quote:
We need a student loan forgiveness program. It is long overdue.
I'll just take it being tax deductible like tuition
Also, getting married screws you with the $2,500 interest deductions.
Posted on 2/22/17 at 10:11 am to tigerite
quote:
We need a student loan forgiveness program. It is long overdue.
And stop federally subsidized student loans. Any chucklefrick with absolutely no credit history, assets, or income can borrow money for the purpose of college. College administrations fricking love this free money and it is the reason for the absurd inflation in attendance cost.
Posted on 2/22/17 at 10:12 am to tigerite
quote:
We need a student loan forgiveness program. It is long overdue.
Say what???
So now the government is supposed to give free, no consequence money to kids going to college to spend on beer, cocaine, and whores?
I can tell you right now that most of the money that I borrowed (and have since paid back every penny) went to pay for my apartment, but there was a nice chunk every semester that we got drunk on and took to the Belle.
Posted on 2/22/17 at 10:12 am to GreatLakesTiger24
I think student loan forgiveness is insane, but we did bank loan forgiveness for all intents and purposes, so it's hard for me to get upset about the idea.
Posted on 2/22/17 at 10:13 am to HempHead
quote:
And stop federally subsidized student loans. Any chucklefrick with absolutely no credit history, assets, or income can borrow money for the purpose of college. College administrations fricking love this free money and it is the reason for the absurd inflation in attendance cost.
No this with a one time forgiveness I can get behind....it takes away all the crap federal loans and gives a little in the way of forgiveness...this is a long term win for American society.
Posted on 2/22/17 at 10:15 am to LSU316
quote:
No this with a one time forgiveness I can get behind
So what do you do for people like me who lived frugally right out of school and paid of my debt in 2 years? Just say "frick you very much, you sucker" ?
Posted on 2/22/17 at 10:15 am to HempHead
quote:
stop federally subsidized student loans. Any chucklefrick with absolutely no credit history, assets, or income can borrow money for the purpose of college
Didn't even know this was a thing until this year (senior yr of college). Multiple classmates of mine quit their jobs and just took out loans for this spring semester so they could"enjoy their last hurrah"
frick that. I'll take graduating with zero debt all damn day
Posted on 2/22/17 at 10:15 am to tigerite
quote:
tigerite
See thread: What Happens When We Make Contact
Posted on 2/22/17 at 10:16 am to HempHead
quote:I agree. If we're going to do a forgiveness program, we can't continue down the same path.
And stop federally subsidized student loans.
ETA: I'm not sure if I support forgiveness though.
This post was edited on 2/22/17 at 10:19 am
Posted on 2/22/17 at 10:16 am to LSU316
By signaling to future generations that they too can borrow to the hilt then have the government bail them out?
No thanks.
No thanks.
Posted on 2/22/17 at 10:17 am to tke857
It is, the cost, outrageous because of the student loan monies flowing into colleges.
We had loans for two of our three children, all paid off.
One child went to reputable university and graduated.
One child went to a disreputable college, which we learned after the fact - our fault to a degree - and am currently seeking restitution
Youngest child worked her way through college.
We failed to save, biggest financial mistake in our marriage
We had loans for two of our three children, all paid off.
One child went to reputable university and graduated.
One child went to a disreputable college, which we learned after the fact - our fault to a degree - and am currently seeking restitution
Youngest child worked her way through college.
We failed to save, biggest financial mistake in our marriage
Posted on 2/22/17 at 10:17 am to tigerite
quote:
We need a student loan forgiveness program. It is long overdue.
No students need to honor their commitments and pay back the loan.
Posted on 2/22/17 at 10:18 am to GreatLakesTiger24
Deport them along with the illegal aliens that have committed fraud concerning govt. benefits.
It's not free money, make them pay, or else.
It's not free money, make them pay, or else.
Posted on 2/22/17 at 10:18 am to baseballmind1212
quote:
Multiple classmates of mine quit their jobs and just took out loans for this spring semester so they could"enjoy their last hurrah"
Which is the fricking problem. The reason so many are in debt to their eyeballs is because they're borrowing to go to an expensive arse private school or to go on spring break, get smashed every weekend, or all of the above.
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