Posted on 05/01/2018 6:32:00 AM PDT by GuavaCheesePuff
Aside from DC (not a state btw) all the others strike me as predominantly caucasian populated states.
Applying Moynihan’s tongue and cheek, it looks like the more white people in the state, the more likely it has a high default rate.
Bullsquat! Stopped reading right there.
I ran into a friend this last Friday at my local Chinese restaurant and joined her and her friends for a drink.
One of them, in her mid t late 20s, had gone back to school yet again for her third masters degree. She has a full time job and maybe that how she got the loans - I have no idea.
She claimed to have a loans in the $300,000.00 range. All of the masters degrees are in the humanitarian, education fields.
I have no idea how this woman will ever pay this back. Not a clue. It’s beyond irresponsible for her to have been allowed to take them out to begin with.
Another friends daughter has about $100,000.00 in loans with a degree she will never use.
Why the hell is getting a post high school education so expensive??
Because you can get a loan to pay for it.
After homeowners and banks and car companies and airlines and the labor unions which sucked them dry all got bailouts, it’s a little late to get religion on the subject.
That is the first thing I noticed. It’s nine states and Washington, D.C.
The whole repayment system was already revamped in 2010 to get more people out of default. Sixty-five year old plus social security recipients are still paying off college loans.
Under the new system, debtors can choose to pay under income contingent repayment plans. It pulls the loans out of default and allows people to breathe for the first time in their adult lives.
Sure, they shouldn’t have borrowed so much. Shoulda, woulda, coulda. But, let’s lay some of the responsibility at the feet of the universities sitting on billions in endowments charging massive tuition increases every year.
Many students pursuing professional degrees, eg medicine or law don’t always have the luxury of attending state schools.
I went back to school late in life. I did 3 years at community college before transferring to a state university. Got every credit I could at community because it was cheaper. I paid cash for my education. Had a family, a job, and went to school full time. Graduated at 36.
I was lucky that after I graduated I got a job as a headhunter for a major online university and got my master’s for free through them. Never carried one cent of debt.
Mental and financial enslavement coming out of universities.
Socialism Is Legal Plunder - “The Law”; Bastiat
Hey kids...WAKE UP!
Yay!
“Crushing student loan debt ...”
The article points out that the median debt is less than $20,000 in all ten states. That means that half the people in student debt (less than 10% of the population) owe less than the cost of a cheaper car. Most of the upper half owe less than the cost of an SUV. That hardly appears to be crushing debt that would prevent them from buying a house or saving for retirement unless the only job they can get with their gender studies, English or sociology degree is making lattes or community organizing.
At this point the big financial institutions might lose out to lobbying from the housing industry, the auto industry, and others who stand to benefit from Millenials having more disposable income.
I for one am convinced that Democrats would throw the finance industry under the bus in a heartbeat to win and get rid of Trump.
Don’t see that happening. Nobody takes a haircut anymore. That’s what a bailout means.
No religion.
It’s called responsibility, sweet cheeks.
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