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Message
re: Student-Loan Delinquencies Now Surpass Credit Cards
Posted on 12/2/12 at 10:38 am to shutterspeed
Posted on 12/2/12 at 10:38 am to shutterspeed
quote:
We may be confusing "private" with "for profit" here.
plenty of private universities are making a killing in the modern collegiate market. they keep raising their tuitions and the loans catch up. with a constant supply of students, and a guaranteed payment, why wouldn't they?
quote:
There is nothing much the matter with private universities.
kids don't rack up $200k in debt from undergrad with a major in english by going to a public school
1
Posted on 12/2/12 at 10:40 am to rickgrimes
quote:
Having recently finished reading The Big Short, I am obviously looking for the next big bubble. Anybody know of this can blow up in our faces like the subprime mortgage business? If so how much would the impact on the economy be? Could there be a Michael Burry out there today who has made his play and just waiting to cash in when this student loan bubble bursts? If you wanted to short something, where would you start looking?
i'm no financial guru, but unless you can invest in colleges, i don't see how there is an investment vehicle to short. the universities are already paid. the banks have the loans backed by the federal government. you could short the banks hoping that the feds welch on that bet, but it's not a good gamble
and you can't short the feds, yet
*ETA: i'm not a finance guy so i might be missing something, but with the likely federal bailouts, i don't see it
This post was edited on 12/2/12 at 10:44 am
Posted on 12/2/12 at 11:29 am to SlowFlowPro
quote:
plenty of private universities are making a killing in the modern collegiate market. they keep raising their tuitions and the loans catch up. with a constant supply of students, and a guaranteed payment, why wouldn't they?
Which is no different from what public universities are doing. The difference between private (USC, Miami, etc.) and non-profit (University of Phoenix, Western Governor's, etc.) is that you have a generally respected degree and coursework to show upon graduation.
This post was edited on 12/2/12 at 11:30 am
Posted on 12/2/12 at 11:40 am to shutterspeed
quote:
Which is no different from what public universities are doing.
i don't think anybody made a real distinction
the biggest distinction is the anticipated debt load
quote:
The difference between private (USC, Miami, etc.) and non-profit (University of Phoenix, Western Governor's, etc.) is that you have a generally respected degree and coursework to show upon graduation.
the difference is becoming negligible with many degrees because the market is so over-saturated with degrees in general
with soaring prices (due to government backing the student loans), college is becoming much more of an economic, and not academic, decision. the sheer numbers are making the vast majority of degrees worthless, economically. this applies from the ivy league to mcneese
Posted on 12/2/12 at 11:44 am to SlowFlowPro
quote:
i don't think anybody made a real distinction
Superdave lumped private universities in with for-profit universities, suggesting that privates offered disreputable degrees. For-profit universities are the worst offenders of the current student loan bubbles--saddling students with overwhelming debt while leaving them with an often sub-par "degree/diploma."
This post was edited on 12/2/12 at 11:45 am
Posted on 12/2/12 at 4:54 pm to shutterspeed
quote:
Superdave lumped private universities in with for-profit universities, suggesting that privates offered disreputable degrees. For-profit universities are the worst offenders of the current student loan bubbles--saddling students with overwhelming debt while leaving them with an often sub-par "degree/diploma."
You're exactly right. I meant 'for profit', not private.
Posted on 12/2/12 at 5:28 pm to jclem11
quote:
Good luck with that bro.
Just dumping her income for two years to it and it'll be paid off.
Posted on 12/2/12 at 6:55 pm to Golfer
quote:
Wife just hit 6 figures: $103,458
Another $30k roughly to add to it...
Just don't understand why not go to LSU and only have 30-35k in loans
Posted on 12/2/12 at 7:22 pm to DontTazeMeBro
What I don't understand is why I can get a mortgage now for less than 4% but my student loans are locked in at 6.8? When I started my loans, they were 2.75%, then around 4% at consolidation and now 6.8%.
Why would anyone bother to get a higher education if they aren't rich already? 6.8% is approaching credit card interest rates....
Why would anyone bother to get a higher education if they aren't rich already? 6.8% is approaching credit card interest rates....
Posted on 12/2/12 at 7:56 pm to Tigerpaw123
quote:
Just don't understand why not go to LSU and only have 30-35k in loans
She didn't like the environment there when she went on the interview. She was deciding between UTMB and St. Aug and she'll finish 6 months earlier too.
This post was edited on 12/2/12 at 7:58 pm
Posted on 12/3/12 at 10:45 am to Golfer
quote:Will probably take at least 3 years but that is the best strategy.
Just dumping her income for two years to it and it'll be paid off.
Posted on 12/3/12 at 11:18 am to saderade
quote:
Will probably take at least 3 years but that is the best strategy.
Yea, it'll be around 2.3 to 3 years depending on her income.
Posted on 12/3/12 at 11:32 am to Golfer
quote:
Golfer
What's your wife going into?
Posted on 12/3/12 at 11:39 am to TheWiz
quote:
What's your wife going into?
Physical Therapy
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