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Yup, the same ones who say, "for all intensive purposes". I caught my niece with that one. Intelligent young woman, two degrees, but really thought that was the expression.
People don't read anymore, and it shows.
lol that's the truth, and 'could care less' drives me insane!
"Seniors" at 40's? After a 10 year payback on student loans, they will still be in their 50's. As long as they can pay back the student loans, what do you care what they do with their money or time?
I know a lot of people who went to medical school and law school in their 40s, and they became successful thereafter.
I put a lot more stock in older people paying off their loans than I do younger people who now want the government to make those loans "disappear" because "education should be free, the government should pay for it".
It always cracks me up when some kid gets on a forum or comment section and reveals just how ignorant he/she truly is. No one is impressed, and stuff the ageism. Maybe if the youth shut their mouth and listened more, they would learn something from older people instead of thinking all older people are stupid and useless.
By the way, totally agree with: 'could care less'. I will mock every single time I see it, along with the fools who think "of" is the correct word when saying, "would have, could have, should have".
I put a lot more stock in older people paying off their loans than I do younger people who now want the government to make those loans "disappear" because "education should be free, the government should pay for it".
Sure someone will pay it off right after they croak. I honestly don't even think anyone here even read the article.
This was a paragraph in the article by TIME
Quote:
Originally Posted by TIME
"Unlike a new college grad, there’s little prospect of years of rising salary income to help pay off the loan. That’s one reason older debtors have the highest default rate of any age group. (Also, most people who can’t pay off a loan will eventually age into being included among older debtors.) Over half of federal loans held by people over age 75 are in default, according to the GAO."
Get the government the hell out of the student loan business altogether. It's what causing the problems.
Do you envision that, in today's post-Lehman world, without a Federal loan guarantee banks would extend unsecured $150K loans to 18-22 old year kids with practically zero credit history, zero income and zero assets? Even if they did, the banks would require super high interest rate and personal guarantees from parents (which probably is the case now, too). Things may not have been so draconian decades ago, but probably not any more.
Yes, of course, the Federal loan guarantee makes it so easy for any student to get loans, and some of them would never get a ROI on their investment (especially from a for-profit or crappy not-for-profit colleges) and may not fully repay their loans.
But unlike home ownership promoted through the mortgage interest deduction, college education for many is the only upward mobility ticket and is more deserving of a Federal assistance.
If you are a parent and have 18 years to save for your child's college costs.
Do it so the child is not paying loans off at the age of 60.
It's hopeless in some ways. 20 years ago, the tuition at the America's best private colleges was between $20-25K per year. Now it's over $50K.
Saving for $25K x 4 was doable, but $50K (plus room and board) is impossible for most families in America.
Of course, most colleges would give you a very generous grant so your kid's out of pocket expenses are well below $50K per year for most middle class families (some would receive free education at well endowed institutions). Only the rich pays the full MSRP and that's apparently the idea.
But the real challenge is paying for your kid's private school (even Catholic school) education from K-12 at anywhere from $10K to $50K per year while saving for college. And then your kid decides to major in Fine Arts or Philosophy . . . on a six year plan. Of course, if you have more than one child, it gets way more hopeless and painful.
Sure someone will pay it off right after they croak. I honestly don't even think anyone here even read the article.
This was a paragraph in the article by TIME
Older people already have jobs, some of them good paying. They go back to school to get a promotion, many times. A 19 year old doesn't have a job lined up, (check out the posts all over this forum about that), so again, I put more stock in to an older person being able to pay than a younger person...especially those who seriously think the government should just give them their education.
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