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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.
Why blame the students? Because they’re the ones who accepted money and agreed to pay it back. Banks can’t force anyone to take out a loan. Colleges dont force people to attend. They simply provide options. In the end, it’s the students who fail to meet the requirements of the loan agreements, not the banks.
They are rolling back federal oversight of for profit schools at the same time they are proposing loan caps, seems like they are moving in two different directions. They rolled back the gainful employment regulations on for profits, many of these schools have exhibited abusive practices, particularly to military veterans.
The balance on school loans is at an all time high but then again these loans follow them for life, they can even garnish their social security. Many students just let the interest accumulate which is very high to begin with, there are some real horror stories. I'm always taken back how little college students understand finance.
Not everyone is the same. I took 6 years to finish and had 50k in loans. That's all paid off now and I have a great job. No regrets.
Loans should be available for those who need them.
Paid mine off within first year of working fulltime. Last 6 months was also paying rent and own car insurance.
It s do able.
Stop freaking out.
Trump Republican scare freak out tactics once again....in order to deny minorities access to the " American dream". And especially to what the trump republicans see as a possible faction tobtake away their power. They are power obsessed. Whether its womanizing, sex trafficking, money laundering, lieing for the sake of liein...it make s the insufficient feel powerful. But it s all fake. Of course donald trump coinsvthe term fake news.
Duh. It s him.
On second thought I wish he would expand the program rather than limit it. It might teach these young state loving communists a good hard lesson that the govt isnt them, isnt there for them and isn't their friend.
This needs to dry up. And I agree with Victor Davis Hanson, there needs to be exit exams to ensure math, reading, and writing literacy at a college level. I propose we go a step further and do this at the high school level.
I recently saw a report that roughly half of all incoming college freshmen have to take remedial English, remedial math, or both. This indicates a two-tiered fraud and failure of our education system: first, the fraudulent diplomas handed out in the millions by high schools to kids who do not have the requisite skills to graduate, and second, a lot of colleges are admitting a whole lot of people who simply don't belong there.
I've met people in their 50's still carrying their student loan. Seems it has been something for the USA for some time.
those are likely the people whose children are now believing that student loan debt is just okey-dokey.
I am 52. My entire college experience cost ~$20K. There better not be a soul that's 50 or above who is still paying off student loans, or they are truly idiots.
I WAS lucky - my parents paid for my in-state public school. I earned money during the summers, and had started working at 15. My first year out, I was in a degree-appropriate job earning more than my college cost.
Students should be helped, not saddled with huge debts...
How Canada handles this.. Fulfilling the B.C. Government’s commitments to make post-secondary education more affordable, the interest rate on B.C. Government-issued student loans has been eliminated, as of February 19, 2019.
If you're a Canadian citizen studying in Canada, you can expect to pay an average of CA$6,838 per year for an undergraduate degree, and CA$7,086 per year for a graduate degree.
USA...Current student loan interest rates. Federal student loan interest rates rose for the 2018-19 school year and apply to loans disbursed between July 1, 2018, and July 1, 2019. The interest rate for federal direct undergraduate student loans increased to 5.05%, up from 4.45% in 2017-18.
In 2016-17, the average cost of annual tuition in the United States ranged from $9,700 for public four-year institutions to $33,500 for private four-year institutions
I recently saw a report that roughly half of all incoming college freshmen have to take remedial English, remedial math, or both. This indicates a two-tiered fraud and failure of our education system: first, the fraudulent diplomas handed out in the millions by high schools to kids who do not have the requisite skills to graduate, and second, a lot of colleges are admitting a whole lot of people who simply don't belong there.
Every year in the United States, nearly 60% of first-year college students discover that, despite being fully eligible to attend college, they are not ready for postsecondary studies. After enrolling, these students learn that they must take remedial courses in English or mathematics, which do not earn college credits. This gap between college eligibility and college readiness has attracted much attention in the last decade, yet it persists unabated.
This might just be the end of those $200,000 gender studies degrees ..
—-
Washington (CNN) — The Trump administration urged Congress Monday to put a cap on student loan borrowing, one of several proposals for updating the Higher Education Act.
"We want to encourage responsible borrowing," said a senior administration official on a call with reporters.
Some research suggests that unlimited borrowing may encourage colleges to drive up the price of tuition.
Somebody has to be the adult and tell them they are putting themselves into MASSIVE debt that will take MOST of the lives to pay off, if they EVER DO!
I have friends who have children in their mid 50's, no longer children, who STILL have a LARGE amount of student loans.
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