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My son builds and remodels homes in the summer to pay for his college but I hope, I truly hope he learns some humility and something about the plight of others and someday when he get's old he won't spend his days on C-D spreading hate about poor people.
Advocating for personal responsibility does not indicate a lack of "humility" or a "hate for poor people." It indicates a belief that people should have enough integrity to honor their obligations. I'm not sure why you're conflating the two separate issues?
Yes I signed, I rolled my eyes at the fine print, I had no financial knowledge, I just signed whatever they put in front of me that would get me thru school. I worked my butt off in high school and got mostly scholarships, I worked during college, I sometimes worked 2 jobs, I took 8 years to graduate but I did it. I did not go to a community college, I wished I had though.
Why do you just automatically assume that I'm at fault and did none of these things and I slacked off??? PLUS ALL MY LOANS ARE PAID OFF.
My response was not about you personally....it was more rhetorical in nature.
Not everyone is cut out to be an engineer, mathemetician, scientist, or any of the other "STEM" majors. Some people are just not wired that way. They are writers, they are the "feeling" types, they do well with creativity. They might be horrible in higher math. They've now been told that they *have* to have a degree, just to get their foot in the door somewhere?
What degree should they seek?
None. If someone isn't smart enough to go to college to get a paying job, they don't need to be in college.
A loan is a legal agreement between a lender and a lendee. If you wanted something different than that you should have made other arrangements.
And people wonder why some family members refuse to lend money to others. Because they know in reality that it is a gift and the talk of a loan is just a ruse.
So a kid who has great grades get's accepted into a good college but his parents cannot afford to pay for it. How else is he/she going to pay for their education?
Go to some cheap state school when they have the brains to go to a top university?
Or just forget about going to college?
Why not give them some help? The government subsidizes everything else under the sun, why not subsidize the brains of the future?
Work. Work evenings, weekends, summers. Instead of a wild spring break orgy, work during spring break.
If they really have the brains for a top university, they should be able to apply for some scholarships which are handed out by big companies, or know they will be making 6 figures right after graduation and can pay off a loan.
The very smart kids who will be earning $300,000 the day after they graduate aren't the problems. It's the kid who is cut out for mowing lawns who lays around in college for 10 years piling up a mountain of debt he can never pay off mowing lawns.
There are all kinds of bills introduced. I doubt its goig anywhere because they know if they pass such aq law its the end of student loas as we know them. I mean who is going to give a unsecured loan that can be forgiven to a student without special considerations;really.
My response was not about you personally....it was more rhetorical in nature.
I know many people with student loans, some are paying off their school debts responsibly and admirably, some who paid them off, and some whose lives (and their kids' lives) would benefit greatly from being able to discharge their student loans in bankruptcy, and some who cannot take certain jobs because it will not allow them to pay rent AND their student loans. I don't know ANYBODY who fits the description you gave of a student loan scofflaw that you swear must be out there somewhere.
They arranged it, she signed on the dotted line. Does she not know how to read? This is still her fault....she was not held at gunpoint. Her screwup was being ignorant. We shouldn't further subsidize her poor decision-making skills with a bailout.
You are not getting it. These "for profit colleges/universities are intentionally taking advantage of federal student loans to line their pockets. It is a scam they have going and the students are used as pawns.
Quote:
So students don't get much economic benefit, on average, from the federal student loans they take out to pay tuition at for-profit schools. But these schools certainly do.
By enrolling more students who are eligible for loans and charging them higher tuition, for-profit schools make sure they'll get a disproportionately large slice of the financial-aid pie.
In the 2008-09 school year, for-profit schools enrolled about 12% of all higher-education students. But they accounted for 26% of federal student loan disbursements and 24% of Pell grant disbursements.
Seriously, you realize the taxpayers are screwed out of the money if they default or are allowed to discharge on BK.
So they have to live at home or forgo a new car in order to pay their loan? :smack
Yes I realize that but there's always things that can be worked out. How about you can discharge your loans if you file bankrtupcy. Doesn't bankruptcy usually stay on your credit report for 8 years or something like that? guess what, you file your taxes with the government so you can always put in things like if you make X dollars per year within that timeframe, the loan gets reinstated. This way you can prevent guys going to a good school to become a lawyer, doctor, engineer etc, filing bankruptcy to discharge the loan and then getting a job for $100K a year. However that person who has a loan and during a bad economy like now and all they can get is a job at home depot, they can file bankruptcy and not have a noose around their neck
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