Student loans and the party of no | Page 2 | TigerDroppings.com
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Mo Jeaux
LSU Fan
NYC
Member since Aug 2008
15398 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 The foundation for that type of education has been replaced by "area studies," which IMO are not studies at all.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
Utah
Member since Feb 2006
23365 posts

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
5443 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.


moneyg
LSU Fan
Member since Jun 2006
21307 posts
Online

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
Utah
Member since Feb 2006
23365 posts

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.


Elcid96
LSU Fan
Member since May 2010
5443 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
1092 posts
Online

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.


Mo Jeaux
LSU Fan
NYC
Member since Aug 2008
15398 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


JohnnyKilroy
New Orleans Pelicans Fan
Member since Oct 2012
8885 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.



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.


DumpsterFire
Arkansas Fan
Member since Sep 2012
1092 posts
Online

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.


JohnnyKilroy
New Orleans Pelicans Fan
Member since Oct 2012
8885 posts

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
985 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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