Trump's budget plan would end student loan forgiveness programs (salary, lawyer, companies)
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I cannot imagine being such a loser that I would expect anyone to pay back loans I took out for anything. But why are we surprised when millennials watched people walk away from home mortgages or car loans?
Stop taking out loans without a plan to re-pay your debt!
Stop screwing around in high school, partying, skipping class, blowing off assignments.
Get in the top 5% of your class so you can get a free ride or scholarships.
Apply for grants and/or work study. Go part-time and work. Get roommates or attend community college. Our kids had a whole year of college credits completed while they were still in high school.
Go to trade or technical school while working.
Serving your country is another way to get tuition assistance.
I don't know what schools you think give full ride scholarships for being in the top 5%........
My boys went to Georgia Tech, most of those students are in the top 5% -- the school would have to give everyone a free ride.
I love how folks here blame the kids. Parents are as much to blame. They want their child to go to a prestigious school and many don't plan for it.
I have a 20 year old in college right now and I know many of his friends chose to go to a local college for a year or two to figure out what they wanted to do later.
1) Greatly reduce the income-based repayment plans
2) End the public service loan forgiveness program
3) Actively pursue those who aren't paying up
Good! This is the only fair way to do it. If one takes out a loan, they are expected to repay the loan. When getting out of high school, one makes a decision. Some people choose to go to the military, many for the educational benefits, while others choose vo-tech or to attend classes part time while working - a "pay as you go", thus the very reason that those that made a different choice should be bound to the choice.
If someone that graduated from high school isn't bright enough to read a loan document, and understand what a LOAN is, they were probably wasting their time going to college and should have been digging ditches or chopping the heads off chickens instead!
I know folks trash millennials and these loans but as someone pointed out, American society is loan driven.
Even after so many ended up losing in the last housing crisis...folks are still living beyond their means and using loans and mortgages to finance a lifestyle they can't afford.
According to data from the U.S. Census Bureau and the Federal Reserve, American households owe on average a staggering $16,425 in credit card debt, and that amount has risen 10% since 2013. Collectively, we owe nearly $1 trillion in credit card debt, on which we pay an average interest rate of 18.76%, or about $1,292 per household each year.
Trump is a total hypocrite especially with this, though he is on his whole investigation, remember how he was going to go after Hillary Clinton first thing in office?
Yup the irony is they call students who can’t afford to pay their student loan debt due to the current job market, losers. Yet, this president himself has not repayed many of his debts and filed bankruptcy multiple times.
Make college affordable for people, raise wages, but hey its just easier to blame young people for going after the "American Dream"
A Federal Reserve Bank of New York report published in July 2015, examines the relationship between the recent expansion of federal student aid and increases in college tuition.
And for balance, let’s not forget to mention downstate SUNY (Farmingdale, Old Westbury, and Stony Brook), where rents on studios and 1 bedroom apartments start in the $1400/month range, and are hard to find because there is an island-wide housing shortage and the dorms are at max capacity.
yes...in pish-posh Long Island
most of my peers went to Stony Brook... and stayed in their parents home.... that's why there are so many SUNY campuses
A Federal Reserve Bank of New York report published in July 2015, examines the relationship between the recent expansion of federal student aid and increases in college tuition.
Wow 2.9%, mostly due to the rise of minimum wage across the country in many states. while inflation and rising cost of healthcare, education, food, interest rates etc etc pretty much the little increases is nothing. 67% of Americans don’t even have over 1k in savings, most are living from paycheck to paycheck.
I know folks trash millennials and these loans but as someone pointed out, American society is loan driven.
Even after so many ended up losing in the last housing crisis...folks are still living beyond their means and using loans and mortgages to finance a lifestyle they can't afford.
According to data from the U.S. Census Bureau and the Federal Reserve, American households owe on average a staggering $16,425 in credit card debt, and that amount has risen 10% since 2013. Collectively, we owe nearly $1 trillion in credit card debt, on which we pay an average interest rate of 18.76%, or about $1,292 per household each year.
Chart belows that Generation X'ers are the biggest debt holders. It is less about that generation and more about their age and where they are in life.
The world is driven by debt and insurance.
The US people have never been particularily good savers compared to other developed countries. This is one of the reasons the US standard of living tends to be higher than most developed countries. We live in bigger spaces and acquire ( often via debt) more stuff.
I know folks trash millennials and these loans but as someone pointed out, American society is loan driven.
Logical fallacy. You make a broad opinion based generality then use it to address specific behavior.
Nobody needs to take loans which they can't afford to pay back.
It's not any more complicated than that.
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