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It blows my mind that people forgive "business tycoons" when they BK, but want to throw a student under the bus and run over him/her because they borrowed to follow their life's dream of becoming a teacher or a geologist, only to realize that the loan interest was going to pull them under for pretty much ever unless they found a way to live for free and pay loans with all their income.
Like I said... people suck.
10th grade HS math. Taught us about interest rates. Yeah I know, not a college prep course. All us dumb people who took it seemed to get it, interest sucks.
I am against bailing out college students for their loans because at some point they had to understand what interest was and that an Art major is a long shot compared to something more practical.
It's not, but I had to take it or something else from the science department to get my liberals arts degree.
Like that other poster, I am not sorry that I did but I was still forced to pay for that and other classes that had nothing to do with the degree I was on track to achieve but were part of the core curriculum that all students had to fullfill.
Nothing different now.
Well, other than how much more each credit hour costs.
I agree that if you are paying the school, you should not be forced to take requisites that have nothing to do with your major, interests and future. The money would be better spent on courses you actually want.
I participated in a specific program post-college that offered a certificate. I received all the credits, but blew off the certificate because MS Word was an actual class that was required. Since I already was very familiar with it, I asked if it could be waived. They said sure--all I had to do was pay for the course and they would waive it. Ridiculous.
I work in higher education and the amount of students "hanging out" getting multiple useless degrees is stunning.
You mean Nigerian basket weaving is a useless degree? I guess accepting entry brides that causes student to 'hang out' waiting for their degree is not stunning enough?
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College administrators are shaking in their shorts hearing this potential "cap" news though. The fountain of guaranteed free money might be finally drying up......
I heard a great way to eliminate the burden of student loans last night by Tucker Carlson. Have the college/Universities co-sign for the loans. Share the burden. If that policy was adopted I bet things would change.
Why is it the students are blamed and not the banks who saw this as a way to lend money the government would lean on people to pay back and garnish wages to get for them?
Why not blame it on colleges for charging ridiculous prices for tuition when our society damned near requires a degree for something, even if it's being an auto mechanic?
Why are college students, most of whom began borrowing when they were barely legal adults, the ones who get badmouthed?
Our country sucks sometimes. It really does.
Plenty of blame to go around but how about let's just end it?
For every story like this one, there are dozens of stories about people who used that money for school and for expenses related to school because they could not afford to attend college WITHOUT loans.
There needs to be better vetting to limit loans to the people in your story and not the other story.
Why is it the students are blamed and not the banks who saw this as a way to lend money the government would lean on people to pay back and garnish wages to get for them?
Why not blame it on colleges for charging ridiculous prices for tuition when our society damned near requires a degree for something, even if it's being an auto mechanic?
Why are college students, most of whom began borrowing when they were barely legal adults, the ones who get badmouthed?
Our country sucks sometimes. It really does.
Banks do what banks do. They will make a loan if they think that they can profit it from it.
Ultimately it IS the student who should be blamed. Why you ask? IT'S CALLED PERSONAL RESPONSIBILITY. Ever hear of it?
Everyone who takes out a loan, student or otherwise, is taking responsibility for paying it back. If the student chooses a worthless education or goofs off, whose fault is that????
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Originally Posted by RedZin
So, you're okay with losers who run up thousands of dollars in credit card debt and file BK?
Hell, Trump has filed BK plenty of times.
The argument for not forgiving student loans is "but, they cannot give the education back like those people who were bailed out in the housing crisis and gave their houses back."
Which is stupid because plenty of conservatives were making "strategic defaults" and filing BK back during the housing crisis on very expensive homes, living in them for a year or two with no payments, socking away huge amounts of income and dividends, then leaving the house and going right out to pay cash for another house.
Those who didn't do that were filing BK and having HUGE debts charged off, only to be out there within a couple of years getting more credit cards, buying new houses at lower prices due to the crash, and making bank.
Yet, we look at students as the evil ones in this country. Yeah... that makes sense.
There will always be a given number of people who game ANY system.
But, that's not the majority of people, so let's just blame everyone.
So the tax payers should foot the bill for these deadbeats? You gotta be kidding.
why are the "students", many whom qualify for Pell grants and other scholarships taking 100-200k loans for useless degrees??
Because the colleges get away with rapid inflating of the tuition, which really should be capped itself. No college education is worth 100k, if thats hot what youre making when you graduate.
Because the colleges get away with rapid inflating of the tuition, which really should be capped itself. No college education is worth 100k, if thats hot what youre making when you graduate.
I agree that tuitions are way too inflated.... but that is also the governments problem(fault) for guaranteeing the loans
there are many avenues of approach for higher education....millions of scholarships, grants out there, many work study programs, and college towns have a ton of part time jobs available for student to work through college,........a 100k loan for a degree in a useless field like basket weaving is not the way to go
plus many towns/counties now have/"give" "early college high school", where the kids are able to get an associates degree at the same time they get their high school diploma (at no cost to them...very cool)
Im sorry but it doesn't take a wizard to understand that if you ask for a loan and get the loan, then you will have to pay by the loan. It isn't someone else's fault that some people think that everyone with an art major is going to make 6 figure salaries.
The loans are rarely the issue. The way the interest compounds is.
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