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re: Almost 20,000 students ask to have student debts erased
Posted on 6/2/16 at 9:53 am to TheDrunkenTigah
Posted on 6/2/16 at 9:53 am to TheDrunkenTigah
quote:Exactly. There is zero vetting of he loan recipients. On top of that, you can't declare bankruptcy.
Which is caused by how readily available huge loans are to people with no means to pay them back... that's called a bubble and a similar one in another industry just sent the economy into the shitter for roughly a decade. I'm not really sure what your point is.
When the bubble bursts, it is going to make the housing bubble look like nothing.
1
Posted on 6/2/16 at 9:53 am to Scruffy
quote:
I'm still considering military since they'll pay off my loans.
One of her classmates is also considering joining the Air Force after graduation.
Posted on 6/2/16 at 9:54 am to LNCHBOX
I had a 15 year old vehicle in college. I received the highest TOPS level, so I got a stipend in addition to having tuition paid in full. I worked 25 hours a week during school and 40-50 hours a week during winter and summer break. I lived in an apartment and paid my own bills, including my own car insurance. I simply worked my arse off in both work and school. I don't regret one second of it.
Posted on 6/2/16 at 9:55 am to lsu xman
quote:
Almost 20,000 students ask to have student debts erased
frick them.
Go get a job, apply for income based repayment, work your way up a company ladder.
Posted on 6/2/16 at 9:55 am to Scruffy
quote:
Exactly. There is zero vetting of he loan recipients. On top of that, you can't declare bankruptcy.
When the bubble bursts, it is going to make the housing bubble look like nothing.
Offering unsecured $100K loans to dumb 18 year olds with no assets or income for just an SSN and a signature... What could possibly go wrong?
Posted on 6/2/16 at 9:56 am to cas4t
quote:
Look, I agree that you should pay back your loans. But anyone that agrees with tuition increases at this point is just doing so because they don't want to seem "liberal". It's clearly a racket.
The gov't got involved in the mortgage business and put rules in place to make lenders give money to people who couldn't repay it. The market exploded with new buyers and prices rose dramatically. Ultimately, it collapsed on itself and prices crashed.
The same thing is happening right now with student loans. At some point, the debt will crush the institutions that are carrying it because of the borrowers inability to pay. Then, when the buyers of college education is reduced, the tuition prices will come down.
Posted on 6/2/16 at 9:56 am to Scruffy
quote:
I'm still considering military since they'll pay off my loans.
frick the military, go Air Force or Navy instead.
Posted on 6/2/16 at 9:56 am to lsu xman
I swear, what passes for logic to Millennial never ceases to amaze me. On the one hand they want free college and their student loan debt forgiven. They seem to have at lest some tenuous grasp on the notion that massive debt is crippling and will lead to ruin down the road. Yet they can't make the same connection when it comes to the fact this country is right at $20,000,000,000,000.00 in debt and counting. But for some odd reason they support a candidate and polices that instead of addressing this issue will only make it worse.
Posted on 6/2/16 at 9:57 am to LucasP
quote:
frick the military, go Air Force or Navy instead.
Posted on 6/2/16 at 9:58 am to Darth_Vader
quote:
I swear, what passes for logic to Millennial never ceases to amaze me
Kind of like the a-hole baby boomers that have driven the price of college through the roof and made these predatory loans available to kids?
Don't play the bullshite millennial card here. This issue is squarely on your generation.
Posted on 6/2/16 at 9:59 am to Scruffy
quote:
If total tuition was $10k in 1985, it should be about $21k if it had followed overall inflation rates.
Instead, it with current increases, it is now about $60k.
I remember my first semester at LSU in 1992, full time tuition was a little less than $900/semester. It's crazy how much it is now.
Posted on 6/2/16 at 9:59 am to AUCE05
quote:
While I don't agree with free school, the racket that is required school books, fees, and excessive professor salaries should be addressed.
It's a free market. Address it by not going to college. Simple.
Posted on 6/2/16 at 9:59 am to AUCE05
quote:
While I don't agree with free school, the racket that is required school books, fees, and excessive professor salaries should be addressed. Students shouldn't be extorted because they are at "college."
It's excessive non-teaching staffs and facilities that are driving up the costs. College "staffs" are increasing at ten times the rate of tenured faculty. Nice that these people have jobs, but they're being paid by students going into heavy debt.
Posted on 6/2/16 at 10:00 am to Darth_Vader
quote:
I swear, what passes for logic to Millennial never ceases to amaze me. On the one hand they want free college and their student loan debt forgiven. They seem to have at lest some tenuous grasp on the notion that massive debt is crippling and will lead to ruin down the road. Yet they can't make the same connection when it comes to the fact this country is right at $20,000,000,000,000.00 in debt and counting. But for some odd reason they support a candidate and polices that instead of addressing this issue will only make it worse.
And here comes the dumbass opinion of the day from the retard who's generation literally just drug the economy through shite because they thought a $500K loan at 9% with nothing down for a house worth $200K was too good to pass up.
Posted on 6/2/16 at 10:02 am to TheDrunkenTigah
quote:
I simply can't afford to let 20-30K sit in savings. My choices are to get fricked by PMI or keep spinning my wheels on the rent treadmill, both of which are terrible for building long term wealth.
There are plenty of ways to avoid PMI and buy a first house with a low down payment...if you have good credit and income FYI.
Lender paid PMI
FHA Loan
VA Loan
piggyback loan
Posted on 6/2/16 at 10:02 am to ithad2bme
quote:
I remember my first semester at LSU in 1992, full time tuition was a little less than $900/semester. It's crazy how much it is now.
You don't want to know how much we paid to go to state schools in the 70's. One month's paycheck would cover my tuition for the year.
Posted on 6/2/16 at 10:02 am to TheDrunkenTigah
quote:
I'm not really sure what your point is.
If we didn't have so many people that feel they are entitled to college maybe colleges wouldn't have to hire more faculty, expand on services, and incur higher costs to operate.
It's amazing how everyone thinks they are college material these days.
Posted on 6/2/16 at 10:03 am to Topwater Trout
quote:
It's amazing how everyone thinks they are college material these days.
Well, with shitty places like SUNO still operating, basically anyone with a pulse is.
Posted on 6/2/16 at 10:04 am to Darth_Vader
quote:
this country is right at $20,000,000,000,000.00 in debt and counting. But for some odd reason they support a candidate and polices that instead of addressing this issue will only make it worse.
Would rather my tax money go to paying for education than yet more military spending. Neither party will quit spending they just spend it on different shite.
Posted on 6/2/16 at 10:05 am to Fewer Kilometers
quote:The cost of things back in the 70s makes me want to vomit.
You don't want to know how much we paid to go to state schools in the 70's. One month's paycheck would cover my tuition for the year.
The memes of the baby boomers lecturing kids nowadays truly are honest commentary of the insanity of it all.
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