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re: 1 in 4 Americans defaulted on their student loans, study finds

Posted on 11/7/19 at 1:32 pm to
Posted by upgrayedd
Lifting at Tobin's house
Member since Mar 2013
139226 posts
Posted on 11/7/19 at 1:32 pm to
quote:

Someone getting a degree in dance shouldn’t be permitted to take out the same amount as someone getting a degree in engineering.
Posted by GreatLakesTiger24
Member since May 2012
61563 posts
Posted on 11/7/19 at 1:34 pm to
quote:

Someone getting a degree in dance shouldn’t be permitted to take out the same amount as someone getting a degree in engineering.


I agree in theory but you have to allow for pre law / pre elite business school lib arts students
Posted by airlinehwypanhandler
Airline Highway
Member since Feb 2019
2130 posts
Posted on 11/7/19 at 1:34 pm to
Too many colleges are trying to become resorts and country clubs these days instead of education campuses.

Look at all the fancy new buildings and dining halls and residence halls and all these flashy bells and whistles that have nothing to do with education. Yes it might appeal to rich 1%ers from California but for most students they are getting a raw deal because its not worth it. There are only so many 1%ers whose parents can pay for their kids college.
Posted by Niles
Seattle
Member since Oct 2019
205 posts
Posted on 11/7/19 at 1:36 pm to
quote:

Too many colleges are trying to become resorts and country clubs these days instead of education campuses.

Look at all the fancy new buildings and dining halls and residence halls and all these flashy bells and whistles that have nothing to do with education. Yes it might appeal to rich 1%ers from California but for most students they are getting a raw deal because its not worth it. There are only so many 1%ers whose parents can pay for their kids college.


frick dem kids
Posted by TigerstuckinMS
Member since Nov 2005
33687 posts
Posted on 11/7/19 at 1:37 pm to
quote:

frick dem kids

Well, only the hot coeds who have attained the age of 18 but, yeah.
Posted by airlinehwypanhandler
Airline Highway
Member since Feb 2019
2130 posts
Posted on 11/7/19 at 1:40 pm to
What is happening at colleges is like what is happening in Las Vegas

Las Vegas used to be a town that catered to everyone. Now all Las Vegas cares about is catering to ultra rich millenials.
Posted by Scruffy
Kansas City
Member since Jul 2011
78024 posts
Posted on 11/7/19 at 1:41 pm to
quote:

you have to allow for pre law / pre elite business school lib arts students

Nah.
Posted by jclem11
Chief Nihilist
Member since Nov 2011
10028 posts
Posted on 11/7/19 at 1:44 pm to
quote:

How would the OT handle this issue?


Work harder and pull yourselves up by your bootstraps you lazy snowflakes.

Back in my day we were mentally tougher and walked backwards up snow covered hills both ways to get to school.
Posted by danilo
Member since Nov 2008
26328 posts
Posted on 11/7/19 at 1:44 pm to
quote:

There is currently $1.5 trillion in student loan debt the US compared with only 1 trillion in credit card debt. mind boggling

We hear parents say “don’t take out credit card debt!”. We don’t hear parents warn about student debt
Posted by yellowfin
Coastal Bar
Member since May 2006
99037 posts
Posted on 11/7/19 at 1:46 pm to
Looking forward to the college bubble bursting
Posted by JohnnyKilroy
Cajun Navy Vice Admiral
Member since Oct 2012
41894 posts
Posted on 11/7/19 at 1:46 pm to
quote:

Also, tie federal loan amounts to the average projected value of the degree.



So pre-med kids don’t get shite for loans, right?
Posted by Lima Whiskey
Member since Apr 2013
22594 posts
Posted on 11/7/19 at 1:46 pm to
They did, that’s why current loans are not dischargeable.
Posted by Epic Cajun
Lafayette, LA
Member since Feb 2013
37473 posts
Posted on 11/7/19 at 1:57 pm to
Just get rid of student loans, especially federally backed student loans.

People can't afford college? frick 'em. Let the market dictate the cost of college, like everything else.

The system we have set up allows universities to consistently raise the price of tuition without repercussion.
Posted by upgrayedd
Lifting at Tobin's house
Member since Mar 2013
139226 posts
Posted on 11/7/19 at 1:58 pm to
quote:

So pre-med kids don’t get shite for loans, right?

You realize that's a STEM degree, right?

I'm guessing you didn't go to college.
Posted by JohnnyKilroy
Cajun Navy Vice Admiral
Member since Oct 2012
41894 posts
Posted on 11/7/19 at 2:00 pm to
quote:

Just get rid of student loans
quote:

Let the market dictate


Uhhh
Posted by HempHead
Big Sky Country
Member since Mar 2011
56772 posts
Posted on 11/7/19 at 2:01 pm to
Yeah, that didn't make much sense. Loans that are purely market driven are quite alright, and even advantageous. It's federally guaranteed loans that are the problem.
Posted by Epic Cajun
Lafayette, LA
Member since Feb 2013
37473 posts
Posted on 11/7/19 at 2:02 pm to
quote:

Yeah, that didn't make much sense. Loans that are purely market driven are quite alright, and even advantageous. It's federally guaranteed loans that are the problem.
I meant in the way that they are used now.

There is no market currently, well there is but it's "fake".

I would much rather an increase in federally backed scholarships for academic performers, than federally backed student loans that allow any Tom, Dick, or Harry to get a loan to pay for a useless degree, and then not pay it off because they feel like their education wasn't worth it.
This post was edited on 11/7/19 at 2:07 pm
Posted by DarkDrifter
Louisiana
Member since Aug 2011
5920 posts
Posted on 11/7/19 at 2:03 pm to
well when you spend 80k a year to get a Lesbian Dance Theory degree they deserve to be in default..
Posted by JohnnyKilroy
Cajun Navy Vice Admiral
Member since Oct 2012
41894 posts
Posted on 11/7/19 at 2:04 pm to
quote:

You realize that's a STEM degree, right?

I'm guessing you didn't go to college.


And?

The standard proposed was that loans should be based on the economic value of the degree. Biology and chemistry bachelors degrees are economically worthless.

I'm guessing you didn't graduate high school with your reading comprehension and reasoning skills.
Posted by bmy
Nashville
Member since Oct 2007
48203 posts
Posted on 11/7/19 at 2:12 pm to
quote:

while many of the people who pause or defer payments due to hardships end up paying more than they originally would've owed



I'm finishing up a graduate degree and the crooks servicing my loan automatically placed me into deferment status (after several straight years of autodrafted on-time payments) and the only notification I received was an email with a subject to the effect of 'We noticed you are enrolled in school part time'.

I now owe more money than I did when I graduated
This post was edited on 11/7/19 at 2:13 pm
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