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Posted on 11/16/20 at 12:22 pm to Theotherpikecounty
quote:
Its a simple fix that no one wants. Loan on the value of the degree. Just like a car or a home. Higher paying degrees like science/medical get a higher loan rates. Low paying degree like education get lower rates. Default on your car, you lose it. Default on your classes, no more loans.
I think you mean the opposite - higher rate for bogus degrees due to the higher risk.
Should also penalize schools with high default rates. Then they have to reduce tuition, drop bogus majors, and improve career services.
Posted on 11/16/20 at 1:49 pm to Vote4MikeAck504
quote:
I hate Biden and sure as hell didn’t vote for him but if he wipes out student loan debt I won’t be too mad about it.
as somebody who starved themselves and worked 60 hour weeks to get through school, debt free. Both you and Biden can GFYs.
This post was edited on 11/16/20 at 1:50 pm
Posted on 11/16/20 at 1:50 pm to bdavids09
Public caning for those who don't pay their student loans?
Posted on 11/16/20 at 1:55 pm to bdavids09
quote:
over payed
If you're a product of the system, then whatever they're paid is too much.
Posted on 11/16/20 at 2:01 pm to USMEagles
quote:
Public caning for those who don't pay their student loans?
Just garnish 100% of wages and 100% of any government support payments until any debt is paid off.
This is how it should work.
Posted on 11/16/20 at 2:04 pm to HempHead
quote:
Tie student outcomes/employment to reimbursement to schools (some coding bootcamps have an Income Share Agreement that I think is a good model)
THIS. If they don't earn a degree the school ought not be in the pool....if they earn a degree but ain't employed, so sorry, the school is SOL.
My Mama, god love her, was watching TV as old ladies are wont to do, and saw an ad for an online university. Being bored, she gave them a call. Talked to a very nice young lady who got her all set up to work on an undergraduate degree in Phsycology….without it costing anything more than a $35 application fee which she gladly waved! So good of her.
So, fast forward about 6 months, mama calls me and tells me a bill collector is calling and wants....wait for it.....$8000! She has no idea what its for but is worried sick. I set down with her, call old boy up, and sure as hell that nice young lady not only got her accepted....but also managed to get her the necessary student loans!!! Mama never thought about it after the first call....it was a passing fancy....but apparently the Department of Education paid these shysters $8K and of course turned it over to a collections agency. $8K, she never signed onto any class, and was 72 at the time....a 71 year old woman on social security and the DOE sends some online shysters $8K!!! Good work if you can get it. When I told old boy at the collection agency that her only income was social security and good luck with that....not even the IRS can touch that...he hung up and we never heard another word about it. These schools and their investors should be thrown under a jail.
Posted on 11/16/20 at 2:13 pm to RogerTheShrubber
quote:
Why do people take out so much in student loans? Use cheaper alternatives, work, dont take out loans for living expenses.
Cheap available money has made this a thing of the past. I was in the middle of working full time and going to school full time out of pocket when the Georgia Lottery made it possible for traditional students (out of high school for less than 5 years) to go to school in Georgia for free basically. My matriculation fees (there was no tuition LOL, a different zebra with the same stripes) wen from about $35 an hour to nearly $500...in two quarters. I finished up on credit cards because I knew nothing about student loans and paid high interest for many years afterwards.
I think it is imperative that we, as taxpayers, subsidize the education expenses of people who will actually be productive members of society....doctors, nurses, engineers (I am biased toward the latter) teachers....but if you want to study medivial woman's issues you are on your own....good luck with that, I wish you great success. ANd we should only help those actually capable of doing the school work and not paying for remedial ANYTHING. It is opportunity theft from the best and brightest among us and it is costing us already as is evidenced by our lack of competitiveness on the world stage.
Posted on 11/16/20 at 2:17 pm to KamaCausey_LSU
quote:
It will take a generation or two, we should be pushing for more people to go to local colleges. In addition, need to start removing the degree requirement for non-technical jobs and stop using it as a screening tool. You have to go to college to get a job in many cases because most decent jobs require a college degree.
We could fix some of the issues by actually awarding trade school graduates with an associates degree, or, even include some English, lit and history and maybe some science and award a under graduate degree....kids would be far more interested, given that they are told from birth to go to college, if a trade was equivalent to a degree, which they are in most cases, only not academically. That could be fixed relatively easy. Base state licensing on having said degree. All of a sudden being a plumber, which is a much needed skill and one that is almost impossible to find, much "prettier" to kids and their parents. And, the kid will earn more money in the process. Good deal all the way around.
Posted on 11/16/20 at 3:12 pm to skinnytrees
quote:
Just garnish 100% of wages and 100% of any government support payments until any debt is paid off.
That'd just make more annoying bums. Caning might actually knock some sense into the "muh loans" crowd.
Posted on 11/16/20 at 3:17 pm to USMEagles
Pay your ****ing debts.
Make rational decisions.
Remove loan guarantees.
Problem resolves itself in a decade.
Make rational decisions.
Remove loan guarantees.
Problem resolves itself in a decade.
Posted on 11/16/20 at 3:55 pm to bdavids09
I had 2 kids graduate with BS from public state universities this year. One of them somehow decided she needed a loan to finish up, about $13,000. The other one owes nothing. Both gainfully employed by the time they graduated. So when I hear this bullshite about high student loans I have to wonder what the bloody hell kids do to get so much student debt. Do they borrow to the hilt and sit on their asses for 4 or 5 years?
Posted on 11/16/20 at 6:57 pm to bdavids09
quote:
over payed
I’m guessing that yours were overpaid.
This post was edited on 11/16/20 at 6:58 pm
Posted on 11/16/20 at 7:07 pm to keakar
My cousin has tens of thousands in debt and she left school early by a couple credits and is currently and only ever was intent on becoming a comic in Brooklyn.
She’s exactly how you’d think she is. Insufferable.
She’s exactly how you’d think she is. Insufferable.
Posted on 11/16/20 at 7:14 pm to bdavids09
Make schools co-sign 10% of the loans. Defaults go up, schools get less funding. It would put downward pressure on prices and stop $200k loans for gender studies.
Make schools have a fund set aside for defaults, like insurance?
Make schools have a fund set aside for defaults, like insurance?
Posted on 11/16/20 at 7:36 pm to bdavids09
If you are an 18 with an amazing business plan & willing to work 80+ hours a week - No bank will loan you $100K
If you are 18, with zero work ethic, plan to go to school to drink excessively, hook up with strangers & major in art - The government will loan you $100K
If you are 18, with zero work ethic, plan to go to school to drink excessively, hook up with strangers & major in art - The government will loan you $100K
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