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Obama’s college age children see their bubble burst quicker than anyone could have thought
coachisright.com ^ | Nov. 29, 2012 | Derrick Hollenbeck, staff writer

Posted on 11/29/2012 6:46:35 AM PST by jmaroneps37

Well THAT didn’t take long. The confetti thrown on college campuses has barely been swept up after Barack Obama’s reelection and reality has smacked more of his children in the face.

This is happened faster than any of these fools could have imagined. You will recall that Obama’s union children at Hostess found out what real life is about last week. This week his college student children got their dose of cold truth.

The stroke across the student loan crowd’s face is the news that in the 3rd quarter the number of student loans in default has skyrocketed. Student loans …. delinquent … 90+ days and 30+ days have risen dramatically.

The amount of outstanding student loan debt has reached $956 billion having climbed $42 billion in just the last quarter alone.

Obviously the effects of a 53% underemployed/ unemployed rate among those graduating from college last May is taking hold of these young fools. Fully eleven percent of all student loans is delinquent for more than 90 days.

Probably very few of Obama’s college children, who have outstanding school loans, understand that they can NEVER walk away from their debt because it is NOT dischargeable in a bankruptcy, but they will soon find out.

How they expect to live a life of their own in a country that offers them no jobs but demands repayment for their useless degree is a mystery.

Worse still is that this report is, “likely to understate actual delinquency rates because almost half of these loans are currently in deferment, in grace periods or in forbearance and therefore temporarily not in the repayment cycle” according to Zerohedge.com.

The explanation goes on to say, “This implies that among loans in repayment cycle delinquency rate are roughly TWICE as high.”…

(Excerpt) Read more at coachisright.com ...


TOPICS: Education; Government; Politics; Society
KEYWORDS: liberalism; studentloans
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So young, so ill-educated so lied to, so hopelessly stuck in mom's basement. Wow all of this and not even 25 years old!
1 posted on 11/29/2012 6:46:43 AM PST by jmaroneps37
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To: jmaroneps37

I hate these headlines.

The housing bubble burst when housing prices went DOWN.

Wake me up when the price of college tuition goes down. Hasn’t happened yet.


2 posted on 11/29/2012 6:50:05 AM PST by delapaz
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To: jmaroneps37

I’m expecting Barry Benghazi and his ‘RATS to come up with their “You Can’t Get Blood Out Of A Turnip” bill for the “college-educated” turnips. They can’t or won’t get a job to pay off their college loans so Barry has to come up with a freebie for them.


3 posted on 11/29/2012 6:51:19 AM PST by FlingWingFlyer (Don't tax me bro! Tax that guy over there!)
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To: jmaroneps37

Wonder if companies will avoid hiring graduates with large student debts? Many companies look at credit scores today as a hiring criteria.


4 posted on 11/29/2012 6:51:28 AM PST by IamConservative (The soul of my lifes journey is Liberty!)
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To: jmaroneps37

It is heartbreaking. My brother and my sons are in this boat, I have a part time contract job with no benefits, but at least it is in my field.


5 posted on 11/29/2012 6:51:36 AM PST by yldstrk (My heroes have always been cowboys)
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To: jmaroneps37

They quit paying on their student loans because they hoped their Secular Savior would forgive their debt. They are in worse shape now than they were before the election.

Now that Pell grants will be limited to force them to finish college instead of being perpetual students, they are in no better shape than the elderly students rioting in Greece because the government teat has run dry.


6 posted on 11/29/2012 6:53:55 AM PST by txrefugee
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To: jmaroneps37
How they expect to live a life of their own in a country that offers them no jobs but demands repayment for their useless degree is a mystery.

Legislation and taxpayers money can solve this problem. - tom

7 posted on 11/29/2012 6:58:24 AM PST by Capt. Tom
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To: jmaroneps37

The Jon Stewart Generation—time to kick them out of the basement, mom—after all, this is the world they voted for.


8 posted on 11/29/2012 7:02:31 AM PST by Mamzelle
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To: jmaroneps37

“So young, so ill-educated so lied to, so hopelessly stuck in mom’s basement. Wow all of this and not even 25 years old!”


Glad to see posters on FR don’t stereotype! Seriously, has it occured to anyone that maybe the economic system itself is dying of its own internal contradictions. I know that’s heresy to some folks, but, the truth will set ya free.


9 posted on 11/29/2012 7:13:14 AM PST by teflon9 (Political campaigns should follow Johnny Mercer's advice--Accentuate the positive.)
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To: jmaroneps37

My ex-DIL just keeps going back to college on the government’s dime to defer her loans. She enrolls and goes through until you meet that time limit and then she drops out again. It would probably be cheaper for them to forgive her loans.


10 posted on 11/29/2012 7:14:02 AM PST by tiki
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To: delapaz
The housing bubble burst when housing prices went DOWN.

The housing bubble burst SENT the housing prices down.

All I needed to know, I learned in kindergarten - common sense. The 'in debt' college student wasn't qualified for college as they never made it out of pre-K. A mush brain in an adult body is Obama's tool for destruction.

11 posted on 11/29/2012 7:14:02 AM PST by presently no screen name
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To: jmaroneps37

“Probably very few of Obama’s college children, who have outstanding school loans, understand that they can NEVER walk away from their debt because it is NOT dischargeable in a bankruptcy, but they will soon find out.”


Now that is a disgusting flaw in the bankruptcy code that should be fixed, stat. I’m not holding my breath, though.


12 posted on 11/29/2012 7:14:38 AM PST by teflon9 (Political campaigns should follow Johnny Mercer's advice--Accentuate the positive.)
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To: teflon9

You have a lot of delusional people on this site who are older and more established and have not a clue what its like in the real economy right now.


13 posted on 11/29/2012 7:16:16 AM PST by GlockThe Vote (The Obama Adminstration: 2nd wave of attacks on America after 9/11)
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To: Mamzelle
Ah, yes.

The Jonathan Leibowitz Generation.

The bitter, sarcastic, flippant, lazy and crass hordes who believe "Occupy Wall Street" and "Free Abortions" are good ideas.

From their foul-mouths, tattoos, piercings, Che T-shirts and reprehensible attitudes, I cannot stand about 90% of them.

Today's entire generation is virtually worthless, and I sometimes wonder if I was born about 90 years too late.


14 posted on 11/29/2012 7:17:11 AM PST by Prole (Please pray for the families of Chris and Channon. May God always watch over them)
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To: tiki

Oh, I forgot to add, she owns a used car and that’s pretty much the sum of her assets.


15 posted on 11/29/2012 7:18:45 AM PST by tiki
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To: GlockThe Vote

Yup. I wish these people would take off the blinders and see things as they really are.


16 posted on 11/29/2012 7:19:07 AM PST by teflon9 (Political campaigns should follow Johnny Mercer's advice--Accentuate the positive.)
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To: teflon9
has it occured to anyone that maybe the economic system itself is dying of its own internal contradictions.

Has it occurred to you that maybe these basement idiots want a free ride? What idiot votes for spending more than they take in - the college educated idiot who can't even give correct change and lives on money they don't have - credit card/instant money!

17 posted on 11/29/2012 7:20:31 AM PST by presently no screen name
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To: presently no screen name

Posts 13 and 16 say “hi”.


18 posted on 11/29/2012 7:21:48 AM PST by teflon9 (Political campaigns should follow Johnny Mercer's advice--Accentuate the positive.)
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To: jmaroneps37

Sadly I see many students who have worked hard to get college degrees that do matter such as in engineering or health sciences also getting hit by Obama’s failed policies when they too cannot find jobs. The college grads with their degrees in peace studies, feminist theory and racial studies would be stuck making lattes at the local Starbucks regardless of the economy.


19 posted on 11/29/2012 7:24:00 AM PST by The Great RJ
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To: GlockThe Vote

I think that unless you live in a bubble you would have to know but even as we all know responsible people who take their debt seriously, we all know the users and the abusers too.

The people I know who are avoiding their student loan debt are people who have never been serious about a job. Both are women and one got their education mostly for free and took the loans so she didn’t have to work. They also graduated when jobs were plentiful. One has worked part-time as a waitress for 16 years, it wouldn’t do to interfere with her party life and the other one is a teacher who can’t ever get rehired after the first year.


20 posted on 11/29/2012 7:25:45 AM PST by tiki
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To: Prole

BUMP!!


21 posted on 11/29/2012 7:26:03 AM PST by presently no screen name
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To: teflon9

Yeah - its ridiculous to see some of what gets posted.

The fact is that between low wages, boomers not leaving the job market, inflation, taxes, etc, the deck is really stacked against young people right now economics wise.


22 posted on 11/29/2012 7:26:41 AM PST by GlockThe Vote (The Obama Adminstration: 2nd wave of attacks on America after 9/11)
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To: The Great RJ
True, but even the grads with "soft" majors were getting decent jobs through the latter 1990s-2008. When you start seeing banks and entire companies "too big to fail", and needing government bailouts to prevent them from dragging the rest of the nation's economy with it, the rise of crony capitalism etc., you're witnessing an economic system in decline, an economic system so bloated and decadent that it cannot survive without government assistance. This is what I mean by "dying of its own internal contradictions." This would be occuring whether you had Obama, Romney or Pee Wee Herman as POTUS.
23 posted on 11/29/2012 7:28:50 AM PST by teflon9 (Political campaigns should follow Johnny Mercer's advice--Accentuate the positive.)
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To: teflon9

Discharging student loans in bankruptcy means you get to pick up the tab. Plus the rest of the taxpayers.


24 posted on 11/29/2012 7:30:46 AM PST by listenhillary (Courts, law enforcement, roads and national defense should be the extent of government)
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To: GlockThe Vote

Oh we do have an idea about how it is in the economy now. Some of us have been screaming loudly about the path we are heading down as a country.

We’re just old fools, what do we know?


25 posted on 11/29/2012 7:33:29 AM PST by listenhillary (Courts, law enforcement, roads and national defense should be the extent of government)
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To: Prole
If you know some young people, you know about Jon Stewart, even though his ratings will never touch Bill O'Reilly's, to Stewart's eternal rage and resentment.

His show is barely one notch above porn, yet I've got all these "intellectuals" who send me clips from his show.

Did you know this perv actually has *kids*?

26 posted on 11/29/2012 7:34:21 AM PST by Mamzelle
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To: teflon9

16 is an obama voter with mindset to blame it on someone/something else.


27 posted on 11/29/2012 7:34:50 AM PST by presently no screen name
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To: jmaroneps37

“So young, so ill-educated so lied to, so hopelessly stuck in mom’s basement. Wow all of this and not even 25 years old!”

Maybe they’ll learn to be “underground entrepreneurs”? Why work on-the-books and suffer wage garnishment, when they can start businesses that “make no money” and get paid under the table?

That’s probably the best solution for these folks, short of playing Powerball with money they steal out of their mom’s purse.


28 posted on 11/29/2012 7:35:12 AM PST by RFEngineer
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To: Prole

Well put, Prole. Well put.


29 posted on 11/29/2012 7:35:23 AM PST by DickBrannigan (When did logic become reversed, and right became wrong, and wrong became right?)
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To: listenhillary

We pick up the tab more if these students default, are saddled with judgments they can’t possibly pay, and cannot get decent work as a result. This, along with the huge losses caused by their unpaid and unpayable debts, will be a body blow to the economy that will dwarf the 2008 mortgage debacle. Besides, debt is debt. It’s just not right to have some kinds of debt undischargable (save for debt caused by willful torts like assault, etc.). Best to have them cut their losses now and be done with it.


30 posted on 11/29/2012 7:35:32 AM PST by teflon9 (Political campaigns should follow Johnny Mercer's advice--Accentuate the positive.)
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To: Mamzelle

Stewart is a real clown and another propagandist of the worst type.

Feeding all the wrong messages.


31 posted on 11/29/2012 7:36:53 AM PST by GlockThe Vote (The Obama Adminstration: 2nd wave of attacks on America after 9/11)
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To: jmaroneps37

These morons are pretty much expecting the dims to forgive the debt anyway. So it doesn’t matter.


32 posted on 11/29/2012 7:36:53 AM PST by vpintheak (Occupy your Brain!)
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To: Mamzelle

Stewart is a real clown and another propagandist of the worst type.

Feeding all the wrong messages.


33 posted on 11/29/2012 7:36:58 AM PST by GlockThe Vote (The Obama Adminstration: 2nd wave of attacks on America after 9/11)
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To: listenhillary

Many of these young dopes don’t know any better. They are a product of high-tech marxist brainwashing and have literally no contrast in their lives otherwise.

Sitting there mocking these idiots, while entertaining and gratifying, is not going to improve this situation one bit.


34 posted on 11/29/2012 7:39:05 AM PST by GlockThe Vote (The Obama Adminstration: 2nd wave of attacks on America after 9/11)
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To: teflon9

Can anyone get on the debt forgiveness wagon? The idea of having spare money again is attractive.

Why not our entire debt as a nation? These interest payments are holding us back.


35 posted on 11/29/2012 7:39:57 AM PST by listenhillary (Courts, law enforcement, roads and national defense should be the extent of government)
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To: teflon9

How would forgiving student loan debt help them get a job?


36 posted on 11/29/2012 7:41:14 AM PST by listenhillary (Courts, law enforcement, roads and national defense should be the extent of government)
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To: GlockThe Vote

I have mocked no one. Yet.


37 posted on 11/29/2012 7:43:14 AM PST by listenhillary (Courts, law enforcement, roads and national defense should be the extent of government)
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To: listenhillary

Having a judgment levied against you is a real buzzkill for a prospective employer. They’d rather see a job applicant who extinguished a crushing debt in bankruptcy and is making a fresh start.


38 posted on 11/29/2012 7:43:24 AM PST by teflon9 (Political campaigns should follow Johnny Mercer's advice--Accentuate the positive.)
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To: The Great RJ

Yes - we all suffer from the dumbing down of the American voter who thinks they are educated. All according to design - start in the schools - don’t teach, indoctrinate.


39 posted on 11/29/2012 7:44:14 AM PST by presently no screen name
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To: GlockThe Vote
http://www.thedailyshow.com/watch/mon-october-24-2011/kevin-clash

This is the Elmo guy who had to quit because he was accused to chasing after boys.

40 posted on 11/29/2012 7:46:41 AM PST by Mamzelle
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To: GlockThe Vote

The only way I see out of this hole in through hyperinflation, making fools of the Chinese and collapsing the dollar. In which case, the students will owe less debt at some pt.


41 posted on 11/29/2012 7:48:11 AM PST by Mamzelle
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To: listenhillary
Discharging student loans in bankruptcy means you get to pick up the tab. Plus the rest of the taxpayers.

If student loans are non-dischargable there is no reason for the loaning entity to not make careless loans.

42 posted on 11/29/2012 7:51:38 AM PST by NeoCaveman (SMOD 2012)
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To: RFEngineer
Maybe they’ll learn to be “underground entrepreneurs”? Why work on-the-books and suffer wage garnishment, when they can start businesses that “make no money” and get paid under the table?

That will have to happen, sooner or later. And with all that youthful energy directed into businesses that pay no taxes, Obama is going to have a big image problem if he turns the IRS loose on his own base. :)

43 posted on 11/29/2012 7:56:06 AM PST by Mr. Jeeves (CTRL-GALT-DELETE)
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To: NeoCaveman

The loaning entity is now the federal government. Slaves for life, what could be better?


44 posted on 11/29/2012 8:05:04 AM PST by listenhillary (Courts, law enforcement, roads and national defense should be the extent of government)
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To: delapaz
Wake me up when the price of college tuition goes down. Hasn’t happened yet."""""""".........

One area that is NEVER mentioned in the price of tuitions, is how much the Deans and adminstration costs.

There is no way in HELL that those DEANS are worth the money that is paid them.

One just received a severance pay of around $3Mil., fired because of some crime, it was on here just yesterday or day before.

There is no reason for Higher Education to be as high as it is. Also in most colleges the Kids HAVE to live on campus the first year, WHY? They can live at home and commute. First year is PARTY TIME.

I advised my children to NEVER sign for a student loan for their children, for the reason its PARTY TIME. He proved me right, now he is taking courses online at home, and paying off his student loan. lol

I would like to say DUMB, but he is not, just no ambition.

45 posted on 11/29/2012 8:05:37 AM PST by annieokie
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To: jmaroneps37

No big deal.

They still get their free birth control.


46 posted on 11/29/2012 8:09:04 AM PST by djf (Conservative values help the poor. Liberal values help them STAY poor!!!)
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To: annieokie

“There is no reason for Higher Education to be as high as it is”

Student loans for anyone willing to sign on the dotted line is the reason for the current cost of higher education.


47 posted on 11/29/2012 8:15:51 AM PST by listenhillary (Courts, law enforcement, roads and national defense should be the extent of government)
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To: listenhillary
Higher costs is DUE primarily to Administrations costs.

That is one issue that is NEVER brought up when it comes time to raise TUITION, Just slips under the rug, shhhhhh. hope we get by with this. COUGH UP kids we love our lifestyle and you idiots will pay.

There is no defending what they do. Colleges seem to be the place that OLD RETIRED DEMOCRAT GOVENORS become DEANS,and they know you never have to CUT SPENDING.

48 posted on 11/29/2012 8:32:44 AM PST by annieokie
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To: Mr. Jeeves

They are practically inviting all of these kids to work beyond the reach of the tax-man. If they work on the books, they will never pay it off, in many cases. If they work under the table, collect whatever benefits they can from the welfare state, they can actually prosper as many illegals have discovered.


49 posted on 11/29/2012 8:34:06 AM PST by RFEngineer
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To: teflon9
There is lots of debt that is nondischageable in bankruptcy court for various sound reasons.

When debt is discharged someone else is left holding the bag. Discharging student debt will cripple the U.S. economy and no sane politician will allow it. If you think your prospects are bad now, just wait if these fools who govern us decide to forgive student loans en-mass.

Oh, those of us who are older and established have gone through many economic downturn cycles. We know exactly what you are going through. My advice to you is to get a job. ANY JOB. FYI I worked full time all through college and lived at home. Graduated with some debt but paid it all off in five years. I chose a less expensive college close to home rather than ringing up big bills. Choices have consequences. Once you stop blaming others for your lot in life you will be set free.

50 posted on 11/29/2012 8:34:08 AM PST by outpostinmass2
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