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Started By
Message
1
Posted on 11/30/16 at 12:36 pm to AbuTheMonkey
Your calculus is correct but does not account for the following.
Lower loan availability (and higher interest rates) will drive down tuition. Tuition has been in hyperinflation because it's not longer driven by the student's ability to pay.
The money saved on loan forgiveness/defaults could easily be directly invested in the schools (or left in the economy via tax reductions).
Universities should be less numerous and less plush than they are
Lower loan availability (and higher interest rates) will drive down tuition. Tuition has been in hyperinflation because it's not longer driven by the student's ability to pay.
The money saved on loan forgiveness/defaults could easily be directly invested in the schools (or left in the economy via tax reductions).
Universities should be less numerous and less plush than they are
Posted on 11/30/16 at 12:36 pm to lsunurse
quote:
Friend of mine went to USC for dental school. Graduated and found out shortly after that she is highly allergic to acrylic(as in hospitalized for health issues from it...which ended any chance of her having a dental career). She was left with like 300K in student loan debt.
i first say you post this a few months ago when i was in a really tough spot mentally and professionally and i was worried about my outlook. after you told that story i was like "OK....not so bad after all"
Posted on 11/30/16 at 12:37 pm to GumboPot
quote:No. It tells me that you're not a irresponsible deadbeat. That will go a long way in the future.
Sucks for me. I paid off my student loan.
Posted on 11/30/16 at 12:37 pm to Steadyhands
Because Iyou are basing your ideas on a circlejerk and not on rational policy. The government should not be picking which degrees win or lose.
Posted on 11/30/16 at 12:44 pm to RLDSC FAN
They should just relieve the debts of people with math, science, and business degrees.
And this is coming from a History Major (wanted Law School initially so now I'm having to get my MBA).
Also, colleges should give lower tuition to students who select those useful majors to encourage more people to do so.
And this is coming from a History Major (wanted Law School initially so now I'm having to get my MBA).
Also, colleges should give lower tuition to students who select those useful majors to encourage more people to do so.
Posted on 11/30/16 at 12:46 pm to CorporateTiger
quote:
The government should not be picking which degrees win or lose.
The government wouldn't, society/economics would.
If the government is going to let someone be irresponsible with money given by them, then it should fall on the government. Everything has risk and that is why some people can buy a 300k house and some can only get a 100k house. They take into account the value of the house and the ability of the person to pay for it....from income via whatever job. There is more risk with education having to wait for the person to actually finish the degree first. So since there is more risk, lets just go ahead and not assess the risk factor of value? How can you be okay with a system like that?
Some folks think its ridiculous to have loan forgiveness, why not do it this way and virtually eliminate that problem.
Posted on 11/30/16 at 12:48 pm to lsunurse
quote:
She is also single as well, imagine having to toss that bombshell to a guy you start dating? ("Yeah so I owe 300k in student loans, what movie do you want to go see?")
There isn't a correct reaction to that from the male's POV.
Posted on 11/30/16 at 12:49 pm to RLDSC FAN
quote:
Taxpayers poised to pay $108 billion in student debt
Posted on 11/30/16 at 12:50 pm to TheOcean
quote:
I'm not bitching -- I'm just pointing out there is a huge problem.
The big problem I saw was going to school for another 9 years after graduating.
If I am going to do that, the end result(income) better be substantial.
quote:
You can't have a high cost of education, high cost of living, and a poor job market. Something has to give and our economy is already over leveraged.
I agree, but bad choices are being made on both sides.
Posted on 11/30/16 at 12:53 pm to Steadyhands
quote:
If the government is going to let someone be irresponsible with money given by them, then it should fall on the government
That's how it works now.
quote:
So since there is more risk, lets just go ahead and not assess the risk factor of value? How can you be okay with a system like that?
How do you calculate that? Ultimately someone somewhere sets a formula for determining how each degree's limits are set. How you construct that formula inherently allows someone (or some agency) to pick winners and losers.
This post was edited on 11/30/16 at 12:55 pm
Posted on 11/30/16 at 12:54 pm to RLDSC FAN
I paid all my student loans - can I get a rebate, with interest?
Posted on 11/30/16 at 12:55 pm to Dire Wolf
Sure there is. Running far the frick away.
Posted on 11/30/16 at 12:57 pm to CorporateTiger
quote:
Your calculus is correct but does not account for the following.
Lower loan availability (and higher interest rates) will drive down tuition. Tuition has been in hyperinflation because it's not longer driven by the student's ability to pay.
The money saved on loan forgiveness/defaults could easily be directly invested in the schools (or left in the economy via tax reductions).
Universities should be less numerous and less plush than they are
?
I did account for that - "principals will likely be lower, or, at least, not grow at nearly the rate at which they currently are". Interest rates are definitely going to be higher, though. I am pretty sure of that.
Totally agree on everything else.
Posted on 11/30/16 at 12:57 pm to ForeverLSU02
quote:
as I just finished paying back my $40k two months ago
I have only been paying mine for a year fml
Posted on 11/30/16 at 1:02 pm to Deactived
I would have been dumb to pass up a free law degree. I more than doubled my income and will triple+ my income in the next decade.
But you're asking young kids to make life changing decisions with very little understanding of how loans/interest works. frick, even I get confused reading the Sallie Mae website and reading about the loan repayment options and all the different loans and programs. What do you expect from an 18 year old? The entire system needs an overhaul. And ignoring the debt already accrued presents a ton of future social/economic issues that we will all feel for decades.
But you're asking young kids to make life changing decisions with very little understanding of how loans/interest works. frick, even I get confused reading the Sallie Mae website and reading about the loan repayment options and all the different loans and programs. What do you expect from an 18 year old? The entire system needs an overhaul. And ignoring the debt already accrued presents a ton of future social/economic issues that we will all feel for decades.
Posted on 11/30/16 at 1:02 pm to AbuTheMonkey
Sorry didn't see your comment about principle. I rattled my reply offf while walking to grab lunch.
Posted on 11/30/16 at 1:03 pm to Steadyhands
quote:
The government wouldn't, society/economics would.
If the government is going to let someone be irresponsible with money given by them, then it should fall on the government. Everything has risk and that is why some people can buy a 300k house and some can only get a 100k house. They take into account the value of the house and the ability of the person to pay for it....from income via whatever job. There is more risk with education having to wait for the person to actually finish the degree first. So since there is more risk, lets just go ahead and not assess the risk factor of value? How can you be okay with a system like that?
Some folks think its ridiculous to have loan forgiveness, why not do it this way and virtually eliminate that problem.
The way "society/economics" assesses financial risk is through private lenders, dude. That's what we've been saying for four pages now. And that there are pros and cons to it (mostly pros, in the long-term, in my view), but you're not thinking this completely through.
The government is not fit to adjust to rapidly-changing market conditions in assessing financial risk across tens of millions of people like that. You're essentially asking for a Chinese-style system: "You become doctor. You become basketball player. You become baker."
Posted on 11/30/16 at 1:05 pm to SlowFlowPro
Can you imagine the monthly payments on that much in student loans???
Posted on 11/30/16 at 1:06 pm to RLDSC FAN
Your profile picture is funny..
USC will never be "great" again. Good? Sure, they are good this year, but they still lost to Bama 52-6.
USC will never be "great" again. Good? Sure, they are good this year, but they still lost to Bama 52-6.
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