Student Loan Debt Leading to Suicides and Suicidal Thoughts? (school, carry, education)

[SourD]

Originally Posted by Bhaalspawn

I posted about it because, aside from being very tragic, it is evidence that our society and our higher education system is malfunctioning. It's not a good sign when ambitious young people feel that their prospects for a good life are now so slim and that they will live lives of indentured slavery and poverty and private shame that they commit suicide.

Everything that happenes to these kids is of their own doing. Stop the sob story. It was THEIR CHOICE to go to an expensive school without working hard enough for a scholarship. THEIR CHOICE! They need to live with their decisions. They also chose to go to school for a career where there is no market. Who's fault is that? They just see $$$$$ and they go to school for that totally disregarding the reality that EVERYONE is doing that and there will not be enough jobs (if any) and the competetion will be through the roof. So who's fault is it that some are in this position again? I think they are just sissies and can't handle ANY pressures. That's how their parents and society has taught them to be. They were taught that EVERYONE gets a trophy, there is no such thing as failure and that they are as smart as the smartest person in their classes. When people are taught to believe these lies, they have nothing to look forward to when they get into the real world and learn the truth that they have been had so they take the sissie route which is suicide.

[pollyrobin]

Originally Posted by SourD

Everything that happens to these kids is of their own doing. Stop the sob story. It was THEIR CHOICE to go to an expensive school without working hard enough for a scholarship. THEIR CHOICE! They need to live with their decisions. They were taught that EVERYONE gets a trophy, there is no such thing as failure and that they are as smart as the smartest person in their classes. When people are taught to believe these lies, they have nothing to look forward to when they get into the real world and learn the truth that they have been had so they take the sissy route which is suicide.

This is not about trophies. These are young adults, older adults. Were not talking grade school here. This isn't about whether someone is smarter.

It's about student loan reform: predatory lending, lobby payouts in return for legislation benefiting only lending companies, unfair bankruptcy laws as they pertain to student loans, exemptions from Fair Debt Collections Practices Act and Statues of Limitation, and exemption from state usury laws. It's about the corrupt relationship
between lenders, the DOE, and Colleges. They go hand in hand with increasing tuition costs.

The average tuition at a 4 year state college is $7,600
a year. Sure, there are students going to "expensive private schools", and they are subject to the same
student loan lending abuse as are 4, and 2 year community college graduates.

No student should have to pay two, three times what he originally borrowed "in accumulated interest" on a student loan debt.
There should be no reason a student can not reduce their principal balance reasonably so, after 10 years of consecutive monthly payments.

If you talk to students, most do and won't mind paying back what they borrowed. It's all the additional accumulation of interest added to one's principal that make these loans extremely unfair. It's unfair to the students and the taxpayers because the government has allowed lenders to do it, and the lending companies have been obscenely enriched, without accountability.

You need to get the facts on abuses in the student loan industry instead of just mimicking "talking points" you've heard on a particular TV show.

Sallie Mae's Success Too Costly? - 60 Minutes - CBS News (http://www.cbsnews.com/stories/2006/05/05/60minutes/main1591583_page5.shtml?tag=contentMain;contentBod y - broken link)

As one put it: "How do you lose in a game like that? It's a great business model. I win from here; I win from there. It's the protected market," says Elizabeth Warren.
"It's not a free market?" Stahl asks.
"It's a market in which the protection goes to the lender," Warren replies. "And the students get served up like turkeys at the Thanksgiving dinner."

"It's a system that Congress created with good intentions, to help kids go to college, but it has ended up saddling hundreds of thousands with debt while guaranteeing that a lender like Sallie Mae can become what Fortune Magazine says is one of the most profitable companies in the world"

"It hasn't worked well for some students such as Lynnae Brown. She got loans from Sallie Mae starting in 1985 to go to college and then to film school. "How much will you have paid them when you're finished?" Stahl asked.
"Over a quarter of a million dollars. $262,383 to be exact," Brown replied. "For an original loan of what?" Stahl asked.
"$60,000," Brown said.

Quit with the suicide "sissy" comment - it serves no
purpose, but to ridicule.

[parfleche]

Lynnae Brown is an idiot

[pollyrobin]

Originally Posted by parfleche

Lynnae Brown is an idiot

Well she might be i was just giving an example of interest
accumulation on student loans. In reality it has more significance with more applicable majors e,g medicine, nursing, etc. Film school is not the norm of what I was
trying to convey They could have gotten a more realistic
major to get their point across in the 60 minute piece

[Roadking2003]

Originally Posted by Bhaalspawn

Perhaps suicidal graduates should organize a march on Congress and a mass suicide on the steps of the Capitol Building to bring some attention to this issue. Please feel free to share any stories you have about indebted graduates who have committed suicide. I hope that these stories reach the mainstream media.

There is nothing sad about this except the assumption that people who incur debt should not pay off their debt.

It's really simple. If you make a loan, you pay off the loan. No exceptions, and it doesn't matter what the loan was for. Otherwise, it's stealing and you are a thief.

[pollyrobin]

Originally Posted by Roadking2003

There is nothing sad about this except the assumption that people who incur debt should not pay off their debt.

It's really simple. If you make a loan, you pay off the loan. No exceptions, and it doesn't matter what the loan was for. Otherwise, it's stealing and you are a thief.

Then why the bank and insurance bailout - why not just give them back the properties they financed. Could it be there was no value in that or could it be they didn't want to bite the bullet like they make students do

Not that simple anymore, is it

[Mr. Klato]

What about a student loan from the government that was consolidated to a private company, nelnet. If the person commits suicide will the loan be forgiven or pass unto the family?

[BruSan]

Originally Posted by SourD

Everything that happenes to these kids is of their own doing. Stop the sob story. It was THEIR CHOICE to go to an expensive school without working hard enough for a scholarship. THEIR CHOICE! They need to live with their decisions. They also chose to go to school for a career where there is no market. Who's fault is that? They just see $$$$$ and they go to school for that totally disregarding the reality that EVERYONE is doing that and there will not be enough jobs (if any) and the competetion will be through the roof. So who's fault is it that some are in this position again? I think they are just sissies and can't handle ANY pressures. That's how their parents and society has taught them to be. They were taught that EVERYONE gets a trophy, there is no such thing as failure and that they are as smart as the smartest person in their classes. When people are taught to believe these lies, they have nothing to look forward to when they get into the real world and learn the truth that they have been had so they take the sissie route which is suicide.

BINGO!

To follow the reasoning of these apologists; these poor souls have taken advantage of one of the greatest priviledges on the planet; that of availing themselves of a higher education" and now they feel depressed because they have to pay for it? Tripe of the first order!

If they are overwhelmed by the prospect of a long term debt; how the h*** are they gonna handle the mortgage necessary to buy a home, a debt due to a failed marriage, business, or some other of lifes little unforeseen set-backs. God forbid they should have children with disabilities if going AWOL is their chosen solution to handling of a 'burden'.

Gotta say it this way; if they can't handle this, they shouldn't have rolled the dice and perhaps instead made room for someone else to take a position in the study hall!

[Mircea]

Originally Posted by pollyrobin

The average tuition at a 4 year state college is $7,600 a year.

"Over a quarter of a million dollars. $262,383 to be exact," Brown replied. "For an original loan of what?" Stahl asked.
"$60,000," Brown said.

Quit with the suicide "sissy" comment - it serves no
purpose, but to ridicule.

Okay, no "sissy" comments. It's Darwin in action.

If the "average" tuition is $7,600 a year then why does one need to borrow $15,000 to pay $7,600?

And what did they spend it on?

What is the median tuition at a 4 year state college?

Less than the average.

[mistygrl092]

Originally Posted by OhioIstheBest

Perhaps suicidal graduates should not have borrowed money they cannot pay back.

Just a thought.

Perhaps you should get a heart.