[klimeckg]

I had to pay off my stafford loan. They better pay off theirs!

[Skooz]

Most of my student loans went to rent and utilities.

Except that time I bought a sweet Sony 5 CD player.

[thoughtomator]

Massive defaults are the direct result of the government backstop on loans that shouldn’t ever have been made in the first place.

Bailing out the program will only make the problem worse. Those who loaned to defaulters should have to eat the losses themselves; that is the only way to sustainably write loans to begin with.

[TomGuy]

Some radio ads/psa's are rather humorous.

One female complains that she is 'repaying a college loan for a degree she doesn't even have'. A male complains that he 'didn't realize a college loan program would loan him more than he could pay back.'

She dropped out, or she would have the degree. That isn't the fault of the loan program.

He apparently majored in something that does not have much of a salary and is having a hard time paying back. He should have done some finanacial analysis to determine how much his degree would be worth in the real world.

I was grateful and thankful for the student loan programs when they came about in the late 1960s. The only other aid program was a grant program for certain majors. There was also a work-study program but students were restricted to working only 15 hours per week. Then, the private bank/government backed student loan program became available, and I got loans for a couple of years.

I had a one-year grace period after I graduated. The next several years were lean because paying for those loans was my top priority. The repayments took up to 40% of my salary. Those loans benefitted me, so my repaying would benefit the next group of recipients. I never defaulted on any of them and had them repaid within 3-4 years.

I have absolutely NO sympathy for these brats who think they can default.

[gloryblaze]

Don’t parents have to co-sign for these loans?

[eyeamok]

Why don’t we treat them just like Delinquent Child Support, Suspend Their License, Attach Everything they Own, Criminal Prosecution. I would go 1 step further and Suspend their right to VOTE for 5 Years after no longer in Default.

[Little Ray]

Student loans should only be available for STEM or medical majors.

[MrEdd]

I have a perfect and just solution to the student loan problem.

Make student loans dischargeable through bankruptcy.
Nobody gets hurt who didn’t thoroughly deserve it.

[MrEdd]

I have a perfect and just solution to the student loan problem.

Make student loans dischargeable through bankruptcy.
Nobody gets hurt who didn’t thoroughly deserve it.