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Actually the really smart people get scholarships from universities so they aren't paying out of pocket anyway
The other smart people will only take out loans if they are confident their major will get them a good enough job to pay it back or they will work while in college
The really dumb people take out federal loans to major in basket weaving, then moan and cry when they can't get a job-- and expect the rest of us to pay for them their whole lives. I know several of these types of people. There is no winning with them as they have a very strong entitlement attitude.
well said and spot on
if a person is not intelligent enough to figure out that such a large amount is going to be payable after graduation and some thought needs to be put into if the study is feasible or not then they richly deserve what they get.
In my opinion these students have a pretty callous "we'll figure it out when I graduate" attitude, take on all this debt and then afterwards when they have to actually start paying it off they want to cry and complain.
I know this one girl who graduated with a PhD in archeology...she also went to archeological excavation sites in India and the Middle east on school field "projects" of course increasing her debt even more..the total? $150,000! and now she works in a library for $10/hr. Now couldn't this dimwit figure out that taking a loan the size of the median mortgage was a bad idea?
This new program only marginally helps students with loans. The devil is in the details, and when those details are applied to the millions of different situations across the college graduate spectrum, i'm confident there will be an underwhelming number of students who were actually helped. One-size-fits-all usually does not work when public and private dollars are wrapped up into the same legislation, because private banks still carry the authority to resist federal interference with their non-federal loan products.
College is the biggest bunch of bs anyway. I got my degree with high grades because i needed it to progress on with my career. With that being said I knew it was bs the whole time. It was a public University within the SUNY system. I was taught many business and economic classes by Professors who worked their way up in the University system, many of whom had never held a job in the private sector. My take is that if you take out a loan going 100K in debt for something that doesnt have much earning potential than you lack common sense and probably won't be profitable in the real world anyhow! I was accepted to a few top notch private universities that at the time back in the mid 90's were 24 grand a year. I would have liked to have gone to them. Instead, I didnt want to be burdened with debt so chose to go to a top NY State University where I got a solid four year degree with room and board for 40K total. We all make choices in life. Sadly the responsible appear to be assuming more and more responsibility for the misfits in society and the degenerates that raised them!
Maybe all you education haters could explain how a country thrives with an uneducated population.....
This country has an educated population. It is called K - 12. That's enough for many people.
Where do you draw the line on the government holding peoples hands and granting them an education?
Maybe the government should help everyone get a phD, or better yet-- 2 phD's. How about a law degree? MBA? Maybe the government should help people get all these things-- then we will have the most educated population in the world... right? That will surely help our productivity... right? You get the picture.
Eventually people need to take responsibility for themselves. It is called growing up. It is also called freedom. I know it is becoming an unheard of term in America, but I suggest you look it up in the dictionary for a more comprehensive explanation.
This! Also wanted to point out that the Income Contingent Repayment plan (ICR) has been around since BEFORE the president came into office. It is very similar to the IBR (Income Based Repayment) plan which is basically what the link is about and which has been around for nearly 2 years.
Just so you know people take out loans to pay for vocational schools as well and they are also quite expensive depending on where you go to school. Many of these "technical schools" also require a large amount of class room work in order for you to move on to the vocational training. People who aren't that academic sometimes take classes more than once (I know someone at a community college who had to take basic math 3 times in order to gain credits toward an auto body shop mechanic degree). When students don't move on from these "core" classes they cannot take vocational classes and they have to continue to take out loans until they can pass composition or psychology or math, making their loan balances rise in the process.
Please explain how IBRs have been around for nearly 2 years but they came into existence before Obama took office. He is very nearly 3 years in office so I guess they came into existence when he was in office and had a Congress doing his bidding since Democrats controlled both houses. I think you are confused or missed the number you wanted.
My son went to a community school for his technical schooling in 2000 - 2001 and did have to take English, math, etc courses although the school he was in was just part of the college. He pulled his class through the fool math course they had to take since he had taken advanced math courses in high school and none of the rest had gone beyond basic mathematics in high school. The class was a pure waste for those kids studying to be diesel mechanics, but they thought it could help. Anyway, they did too many things that weren't going to help at all. I guess that must have been a cheap place to go to technical school since he came out of it with no debt and spent little of what he had saved up through high school.
This whole thing is nothing more than one group speaking the pure truth about Obama trying to buy votes and another group standing up for him saying that isn't what he is doing.
I don't know. I think it is time for those of us who are young to wake up and take a little responsibility. We already have income sensitive repayments. If you owe money, get on a plan to pay it back. We borrowed this money, it is our responsibility to pay it back. Yes, I regret not working my way through school, but I learned from my mistake.
rr, you are to be commended for learning from your mistake. The problem now is that many who learned, also, see a chance to keep from paying and that is exactly what Obama wants them to think. It is sad, but true, that you of the honest bent will end up paying for the cheaters.
Would those be the conservative old people who paid their loans back years ago? I think that many in the group did that unlike the ones of today.
Bingo.
I had >8k in student loans upon graduation in 1992. Had my parents not helped at all I might have had more like 20k. Got my degree in 4 years, worked a job for extra cash, worked super long hours during summer.
Got my first job paying 30k. Lived in a craphole apt, no car, crappy TV....and paid my loans off in about 10months.
I didn't go to MIT because it cost 4x as much as my state university and I didn't want to have >100k in student loans and my parents are middle class.
Personal Responsibility...DOA.
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