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I doubt any 18 year-old knows what he is signing up for when he takes out a student loan. Parents should be required to co-sign student loans unless the children are at least 20 years old. A few years out in real life after college should make you mature enough to be responsible for such an important decision on your own. 18 is way too young IMO.
Whoa there. At 18 you are considered a adult. Otherwise raise the "adult" age to 21. You're 18 you can make your own decision. Nothing stops a 18 year old from going and getting a second opinion on the loan or binding agreement they are about to take on. You can vote at 18, join the military, buy a house and enter into a legal binding agreement.
My question is why wasn't she able to get a job in the correctional enforcement field? Because what? The degree was from a unaccredited college or what was stopping her. NIF jobs in her field in her area ?
What exactly stopped her from getting a job?
why should parent automatically be forced to co sign their child(ren) loan? 18 is an adult
wanna cosign for a loan for me???
If you're my child, I'll take care of your education. I do not want to put you in a situation where you will not be able to pay back your student loan. I don't think you'll be mature enough when you're barely 18 and still in high school to decide on such an important matter. There is a reason the legal drinking age is 21. I think it is a mistake for the laws to make it so easy for an 18-year-old to take on 100k of debt. When you take on a mortgage in the future, you'll know how hard it is to be approved with a stable income and with a valuable collateral. An 18-year-old with no guarantee of future income or collateral should not be able to borrow so much money. If you tell me you need to owe money to go through college, and I think the money is worth it, I'll borrow it for you. If it's not worth it, tell me where else you'd like to go for college.
As your parent, I will not let a decision you made at age 18 haunt you for the rest of your life.
And that is the reason I believe student loans should be required to be co-signed by parents.
why should parent automatically be forced to co sign their child(ren) loan? 18 is an adult
wanna cosign for a loan for me???
To clarify, what I said is that sub-20 year olds should not be able to take on student loans without parents co-signing. Not: parents have to co-sign whatever student loans their children decide on their own to take on.
Fact is some cannot or do not want to invest in college for their child. But default is another thing and depends because it can cause problems if not thru exceptions in bankrupt filing.
good think lawmarkers, in the case, know better than you.
they are adults and can make their own choice
there are plenty of 18 year old who have taken student loans got a degree job and paid it back. seems like the system works fine
Prove that the vast majority of 18 year olds that took sizable student loans would be able to pay it back within a reasonable timeframe after college and we'll believe the system is working.
While I agree the system is broken and it should be harder to get student loans, they could have picked a more sympathetic figure to make their case. The woman highlighted in the article is 28 so she obviously wasn't some naive 18 year old, and she's currently unemployed. Not delivering pizzas, not walking dogs to make money, just flat-out unemployed. If she was doing something, anything to make it appear she was trying to make an effort that would help her argument.
If the person in question faced consequences from defaulting on the loan, they might have been more cautious about researching the prospects of a job after graduating with that degree from that university.
The student SHOULD repay the loan, as any adult should.
The student has a duty to repay the loan, and the college does not deserve to benefit from the repayment.
Not her fault? She took out $70,000 to get a criminal justice degree, which generally leads to a job that pays minimum wage to slightly better than minimum wage.
Quote:
Originally Posted by duster1979
I agree that it's a flawed system that will let someone borrow money to pursue a degree that won't earn the borrower enough money to repay the loan, and it should be overhauled.
But until it's fixed I don't think it gives anyone a pass to skip out on the terms of the agreement.
Quote:
Originally Posted by jms493
Nobody forces you to take out a student loan. This is your choice and you know the deal when you sign up. IMO they need to make it harder to get the student loan and there should be a limit.
Quote:
Originally Posted by hoffdano
If the person in question faced consequences from defaulting on the loan, they might have been more cautious about researching the prospects of a job after graduating with that degree from that university.
The student SHOULD repay the loan, as any adult should.
Did you guys read the article? The school lied to the students and used false stats about employment after graduation. The fraud is so bad the government is stepping in and shutting the school down. Students did their research but the school fed them false facts.
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