NYU grad: $97,000 in student debt, wants bailout (skill, degrees, school)

[mjs1987]

I didnt see this posted anywhere. Unbelievable sob story. I think we will be seeing more of these in the coming months and years. I wonder if we will see people walking away from student loans like mortgages or if we will have a future recession driven by defaults on student loans. The article says in the class of 2008 only 10% had more than 40K in loans. I think that percentage will rise by a lot in the next 4-5 years since tuition is a lot more than it was when the class of 2008 started college. I think people turn their brains off when they are young. We tell people it is ok to be "young and dumb" but this mentality allows young people to not use common sense and make well-informed decisions. I dont think bailouts are the answer because many more made good decisions and didnt take out so much in debt.

Ms. Munna understands this tough love, buck up, buckle-down advice. But she also badly wants to call a do-over on the last decade. “I don’t want to spend the rest of my life slaving away to pay for an education I got for four years and would happily give back,” she said. “It feels wrong to me.”

http://www.nytimes.com/2010/05/29/yo...ewanted=1&_r=1

[JS1]

I've read it before. It's just revolting... $100,000 for a degree in religious and women's studies, and you wonder why you're doing semi-skilled labor? IDIOTS

[plaidmom]

It's too bad degrees don't come with warranties.

And while the debtors in these situations made bad decisions, so too did the lenders. Often the borrowers are starry-eyed teens. The people who make the loans are supposedly older and wiser. Apparently, not so much.

[JS1]

I wouldn't shed a tear if Congress changed the laws to allow student loans to be discharged in bankruptcy. There has to be an alternative to a life of slavery to a bank, even for an idiot like Cortney Munna.

[BigDGeek]

She's an idiot who got a worthless degree from an expensive school. Pay for it.

[bluebelt1234]

At least she isn't stuck on unemployment and trying to pay student loans. There are teachers, civil engineers, and lawyers who can't find jobs with their degrees or have been laid off and can't find work.

This woman has a job so I have no idea what she is complaining about. She needs to suck it up and pay up.

[las vegas drunk]

Sorry, but this chick is an idiot. She got a very well paying job for $22 an hour, and wants to be bailed out of her student loans???? Geez, I would be thrilled to make that kind of money, even with the student loans to pay back.

[ladoll]

Originally Posted by las vegas drunk

Sorry, but this chick is an idiot. She got a very well paying job for $22 an hour, and wants to be bailed out of her student loans???? Geez, I would be thrilled to make that kind of money, even with the student loans to pay back.

Right?! She gets $2300/mo. Her rent is $750/mo. and her student loan bills would be $700/mo. That is $1450. That leaves her with $850 for the month. (And I imagine taxes are going to take some of that, but not all of it.) And yeah, she should move somewhere cheaper. She can commute like the rest of us common folk.

And her government loans are in deferment right now. She could have looked into a forbearance or a deferment without taking a night class. She could also call them and see about reducing the monthly payment. It would take her longer to pay off, but at least the monthly payments would be manageable. (That is, if they are willing to do that for her, some lenders will.)

[AnthonyB]

It's not a sob story, it's a tale someone who expects everything to be handed to them and who takes no personal responsibility what so ever.

And what does she mean she doesn't want to slave away paying it off for ever. So far she hasn't paid back a dime!!!

You can't treat a college degree like a house. You can give the house back to the bank, but you can't have 4 years education sucked out of your head.

[ambient]

Originally Posted by JS1

I've read it before. It's just revolting... $100,000 for a degree in religious and women's studies, and you wonder why you're doing semi-skilled labor? IDIOTS

^^THIS.

I have little sympathy for someone like her.