I Demand Someone Else Pay Off My Student Loan. (military, money, program)
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So - that brings us back to the question of how to actually manage this trend, as opposed to screaming at individual debtors within the trend. Which, as I have pointed out, doesn't actually work as a management strategy.
If we stop sending our kids to colleges that charge $100k to educate them, the college's will figure out how to bring the price down.
We need to have realistic conversations with our children about the income prospects of their chosen fields and what level of student loan debt that fields can (and can't) support. We need to encourage our kids to slow down, let them know college is not a race....its OK to work part time and go to school part time, starting with junior college, and take 7 or 8 years to get a degree, especially if it means you can do it with substantially less debt. You'll be way more mature when you graduate and more likely to land a job in your chosen field than your green-behind-the-ears 22-year-old classmates. And even though you get a later start in your career, you're likely to have your education debt retired at a much earlier age than if you go strait to full time at a 4-year institution and come out saddled with a house payment every month before you actually pay for a place to live.
The primary function of our current student loan system is to create a generation of debt slaves. At least the kids didn't have to sell their bodies to get the loans but they did have to sell their futures. They are now facing wage slavery for the forseeable future. The other [point was to eliminate all risk for the banks. Without risks the banks are just being greedy.
The primary function of our current student loan system is to create a generation of debt slaves. At least the kids didn't have to sell their bodies to get the loans but they did have to sell their futures. They are now facing wage slavery for the forseeable future. The other [point was to eliminate all risk for the banks. Without risks the banks are just being greedy.
What a crock!
How about all the many students whom had loans over the last several years and went on to graduate, get a job, and pay them back? Student loans are not bad.
What is bad and pathetic is when one chooses to stay in school making a semi-career out of 'learning' because they do not want to face the real world and then expect those loans to be excused.
Also pathetic is the thought they one is entitled to anything - including a college education.
"My parents told me that I deserved to drive the best car I could find and now the bank wants me to pay the loan back. I had to buy a life insurance policy because if I die my parents would have to pay my $120,000 loan."
Poor thing must have been taken in by Obama's talk about free college. What else could make them think they could avoid the gravity of taking out a large loan, like that.
"My parents told me that I deserved to drive the best car I could find and now the bank wants me to pay the loan back. I had to buy a life insurance policy because if I die my parents would have to pay my $120,000 loan."
Poor thing must have been taken in by Obama's talk about free college. What else could make them think they could avoid the gravity of taking out a large loan, like that.
With the outstanding student loan - private and federal - at $829.785 billion, this debt goes far back in time.
I don't blame recent graduates for being unable to pay their loan back seeing as how they can't secure employment. I also don't understand why the US continues to give out 50,000 lotteries annually to foreigners to work in the US. Companies are still bringing in foreign help because, as it is claimed, they can't find people in the US that have the qualifications. With the number of unemployed, they can't find people qualified??? You have recent grads to people who have 10, 20, 30 years experience unemployed in every field.
Last edited by softblueyz; 10-19-2011 at 11:39 AM..
Except that if they are allowed to declare bankruptcy guess who's on the hook? That's right, the taxpayer. That's the difference between student loans and other debt obligations. A person who is over his head in credit card and other debt can be relieved of his obligation to repay because it is the lender who takes the hit. But student loans, by contrast, are government-backed. So if the loans are not repaid, it is not the banks who are left holding the bag, it is the taxpayer.
The lenders/banks/cc companies also have insurance that covers their losses, too.
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Students don't want to pay back their loans
