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How many economy-threatening bubbles must the government create before people wise up and say "Enough?" Government interference in the housing mortgage industry created a bubble that almost blew up the American financial system. And they have inflated an higher education funding bubble to the tune of a $trillion that is potentially as lethal to our economy, all in the name of providing access to higher education for the poor and middle class. Now they have saddled these kids with unsustainable debt and, in the process, are wrecking what once was the premier higher education system in the world. Imagine racking up 50,000 to 100000 in debt for a piece of paper that says you completed a course of studies in some inane and worthless major that won't buy you a cup of coffee. Come on, people. It's time to get government off our backs. They are killing us and ruining the future of our kids and grand kids.
I think it is funny that people think students shouldn't pay their fair share for their own education... all the while wailing about "fair share"... 6.8% is the fair share...
I think it is funny that people think students shouldn't pay their fair share for their own education... all the while wailing about "fair share"... 6.8% is the fair share...
It may be 'funny' in an odd, pathetic sort of way but I wouldn't agree it to be anything remotely amusing. Liberalism has been banging away at an established personal responsibility culture that built this country with attempts to supplant that culture with a reliance on some unknown big brother. OWS is evidence of success.
Apparently the only thing many of these students learned from their free public education was how to get something for nothing.
This afternoon, House Speaker John Boehner (R-Ohio) announced that the lower chamber will vote this Friday on a one-year extension — paid for by killing an ObamaCare slush fund.
Call it President Obama’s Committee for the Re-Election of the President — a political slush fund at the Health and Human Services Department.
Only this isn’t some little fund from shadowy private sources; this is taxpayer money, redirected to help Obama win another term. A massive amount of it, too — $8.3 billion. Yes, that’s billion, with a B.
It should be interesting to note, that this particular legislation was actually a democrat bill. It's also interesting to note, that their proposal is ending at a certain time, that happens to coincide with upcoming elections.
Are you implying the Dems did this intentionally, knowing that the Repubs would balk at the idea of valuing American Students? Those Dems wouldn't do that, would they? Naw, they wouldn't dare!
Maybe you should have gone to one of those more expensive schools. Please explain to us how it's the GOP's fault that your school is now requiring you to do an internship that will require you to shell out $5000 for those extra credits.
Well one of the problems with our higher education system is universities are giving students diplomas in fields that they have no experience in. So my university requiring their students to complete a 12 credit internship to obtain that bachelors degree is a model i feel should be implicated throughout higher education system. Any ways its the GOP's fault because they aren't acting fast enough to come to the defense of Americans future work force! raising interest rates on student loans simply isn't beneficial toward our economy.
How many economy-threatening bubbles must the government create before people wise up and say "Enough?"
Apparently 312 Million, enough for each American to experience a bubble and its negative effects up close and personal.
Bubbling...
Mircea
Quote:
Originally Posted by pghquest
Why would they only extend it for 5 years?
So it can be an election issue in 2016?
Guessing...
Mircea
Quote:
Originally Posted by pit2atl
major: Hotel Management
minor: Labor relations
I have a internship with a a four diamond property, and without affordable student loans someone in my financial situation can forget it... Maybe i should have just became a machinist like the guy below says....
Hotel Management? Are you freaking serious? You want me to be on the hook for that?
Howard Johnson started and successfully ran an entire chain of motels across the United States and the guy never even finished the goddam 6th Grade.
You have not less than 6 years' more worth of education than he did and you are floundering and haven't' even opened your first hotel yet.
How sad is that?
I have a better solution. If the Hotel Industry wants people, they can pay an educational psychology consulting firm to devise an aptitude test, use the aptitude test to screen applicants, and then the Hotel Industry can administer the test, have a test-scoring firm grade it, and then select people to train, and they can live in the damn hotel while they train.
Quote:
Originally Posted by pit2atl
There is nothing wrong with that but I don't want to be a machinist, I feel that I have a lot more to offer to society than working in a factory.
Then start proving it, because to date, you haven't shown us anything. All you've done is stand around with your hand out looking for other people to pay for something you might not even be qualified to do.
Quote:
Originally Posted by hoffdano
The government should not act as a bank to students or to businesses.
We do not need more college graduates. We have more than enough for the next few decades yet the government keeps trying to manufacture more of them.
That goes in tandem with your first point and it illustrates the problems that arise when government interferes with the Laws of Economics, and in particular, the Law of Supply & Demand.
If the government did not guarantee Student Loans, then it would not be interfering with the Laws of Economics. However, if the government simultaneously fixed the interest rates for such loans without backing them, what would happen?
Significantly fewer loans would be issued.
Interest rates are set by Supply & Demand, just like the prices of all goods and services (and lending is a service). If the government then forces loans to be made at below market rates without backing them, the lenders are then forced to assess risk at a much greater level, and the result would be fewer loans issued, and those loans that were issued would all require co-signors, like the parents, since those having 18 years typically have no credit history.
The government backing the loans takes the parents off the hook.
If the government stopped setting the interest rate at below-market values, then the interest rate would rise to probably the 12%-18% range.
At least initially. Once the demand for student loans declines, then interest rates would decline proportionally.
Lenders have a limited pool of money, and everyone competes for that money, and that competition is what sets the interest rates for loans (of any type). More people competing for very few dollars causes the interest rate to rise, while fewer people competing cause it to drop.
When the government backs the loans, then you violate the Laws of Economics by artificially increasing the pool of money.
Quote:
Originally Posted by hoffdano
I think it is odd that so many people think it makes sense to:
1. make it easier for someone to get a dumb degree by loaning them money at below market rates.
2. person graduates with dumb degree to work as a waiter or administrative assistant
3. same person doesn't make enough to repay loan in their lifetime
4. loan defaults, taxpayer eats it.
Same person could have become a waiter straight out of high school, not incurred any debt, saved at least $100K of capital.
I think ignorance is a factor here. They don't understand that the corporate/business/service world has dumped the responsibility of training onto the tax-payers.
No one went to college for a nursing degree. You applied to an hospital, who would "hire" you as a student, and you worked for the hospital while simultaneously obtaining your degree in nursing, and more often than not, upon graduation, you got a job with the hospital (or an affiliated hospital).
Before there were law schools, and before law degrees were required (and that was just 40 years ago), law firms trained their own. That's how you became a lawyer. You started as a file clerk, and then worked your way up to paralegal and then you were physically in court with the attorney and then you would take the BAR exam.
Where you have highly specialized instruction, like Hotel Management, the Hotel Industry needs to be selecting and training people for that.
What's next? An MCSH -- Master's in Cruise Ship Hospitality? A Bachelor's in On-Line Gaming Management? Maybe they can double-major and get a degree in Casino Operations and then a Master's in Gambling.
Concurring...
Mircea
Quote:
Originally Posted by Mr. Joshua
Do you realize that many parents are already losing their shirts paying for their own children's educations?
Yes, I am well aware that the American Stupid Class is the dumbest Middle Class that has ever existed in the history of the Universe (including parallel universes and multi-verses that theoretically may or may not exist).
It would seem that there is an endless supply of incredibly stupid people.
Quote:
Originally Posted by Mr. Joshua
And you have the unmitigated gall to demand that these people "invest" in you as well?
No, I would rather have them act intelligently and apply common sense, assuming that's even possible.
Looking at it from a business point of view as these folks cannot default SOAK THEM FOR ALL YOU CAN GET. It is not the Bank's problem if these people can never afford a mortgage. That is somebody else's problem. Impoverish all of them. It will keep them from competing with the kids already on the management track.
Brought to you by Greed, Inc. aka - the Republican party.
Apparently 312 Million, enough for each American to experience a bubble and its negative effects up close and personal.
Bubbling...
Mircea
So it can be an election issue in 2016?
Guessing...
Mircea
Hotel Management? Are you freaking serious? You want me to be on the hook for that?
Howard Johnson started and successfully ran an entire chain of motels across the United States and the guy never even finished the goddam 6th Grade.
You have not less than 6 years' more worth of education than he did and you are floundering and haven't' even opened your first hotel yet.
How sad is that?
I have a better solution. If the Hotel Industry wants people, they can pay an educational psychology consulting firm to devise an aptitude test, use the aptitude test to screen applicants, and then the Hotel Industry can administer the test, have a test-scoring firm grade it, and then select people to train, and they can live in the damn hotel while they train.
Then start proving it, because to date, you haven't shown us anything. All you've done is stand around with your hand out looking for other people to pay for something you might not even be qualified to do.
That goes in tandem with your first point and it illustrates the problems that arise when government interferes with the Laws of Economics, and in particular, the Law of Supply & Demand.
If the government did not guarantee Student Loans, then it would not be interfering with the Laws of Economics. However, if the government simultaneously fixed the interest rates for such loans without backing them, what would happen?
Significantly fewer loans would be issued.
Interest rates are set by Supply & Demand, just like the prices of all goods and services (and lending is a service). If the government then forces loans to be made at below market rates without backing them, the lenders are then forced to assess risk at a much greater level, and the result would be fewer loans issued, and those loans that were issued would all require co-signors, like the parents, since those having 18 years typically have no credit history.
The government backing the loans takes the parents off the hook.
If the government stopped setting the interest rate at below-market values, then the interest rate would rise to probably the 12%-18% range.
At least initially. Once the demand for student loans declines, then interest rates would decline proportionally.
Lenders have a limited pool of money, and everyone competes for that money, and that competition is what sets the interest rates for loans (of any type). More people competing for very few dollars causes the interest rate to rise, while fewer people competing cause it to drop.
When the government backs the loans, then you violate the Laws of Economics by artificially increasing the pool of money.
I think ignorance is a factor here. They don't understand that the corporate/business/service world has dumped the responsibility of training onto the tax-payers.
No one went to college for a nursing degree. You applied to an hospital, who would "hire" you as a student, and you worked for the hospital while simultaneously obtaining your degree in nursing, and more often than not, upon graduation, you got a job with the hospital (or an affiliated hospital).
Before there were law schools, and before law degrees were required (and that was just 40 years ago), law firms trained their own. That's how you became a lawyer. You started as a file clerk, and then worked your way up to paralegal and then you were physically in court with the attorney and then you would take the BAR exam.
Where you have highly specialized instruction, like Hotel Management, the Hotel Industry needs to be selecting and training people for that.
What's next? An MCSH -- Master's in Cruise Ship Hospitality? A Bachelor's in On-Line Gaming Management? Maybe they can double-major and get a degree in Casino Operations and then a Master's in Gambling.
Concurring...
Mircea
Yes, I am well aware that the American Stupid Class is the dumbest Middle Class that has ever existed in the history of the Universe (including parallel universes and multi-verses that theoretically may or may not exist).
It would seem that there is an endless supply of incredibly stupid people.
No, I would rather have them act intelligently and apply common sense, assuming that's even possible.
Looking at it from a business point of view as these folks cannot default SOAK THEM FOR ALL YOU CAN GET. It is not the Bank's problem if these people can never afford a mortgage. That is somebody else's problem. Impoverish all of them. It will keep them from competing with the kids already on the management track.
Brought to you by Greed, Inc. aka - the Republican party.
BWAAAAAHAHAHAHAHAHAHA. Greed = Democrats, if that wasn't true, then why are the wealthiest people democrats? Not because they are philanthropists... Because they are greedy sticky fingered bas$#%^&*()..
BTW, why give someone a mortgage if they cannot pay the damned thing? so you can take away their house, and through them out on the street? Is that why democrats are pushing through to get people who cannot afford a mortgage, approved for a mortgage? So they can stick it to these people yet again, then tell them it's someone elses fault?
Well one of the problems with our higher education system is universities are giving students diplomas in fields that they have no experience in. So my university requiring their students to complete a 12 credit internship to obtain that bachelors degree is a model i feel should be implicated throughout higher education system.
I would agree you on this. WHen I went to college, the program was a "co-op" one, where you went to school for 12 weeks, then worked at a sponsoring unit for 12 weeks. The student body alternated, while half was in school, the other half worked. If you lived reasonably furgally, pay during the work section was enough to pay for school. The work sections was at least as valuable as the school part. I would think it would be very hard to commit to 4 or more years of education in a demanding curriculm without an understanding of what the job would actually entail.
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