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Why I Defaulted On My Student Loans
The New York Times ^ | June 6, 2015 | Lee Siegel

Posted on 06/06/2015 5:11:30 PM PDT by Benito Cereno

click here to read article


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To: LostInBayport

me=he


41 posted on 06/06/2015 5:58:04 PM PDT by LostInBayport (When there are more people riding in the cart than there are pulling it, the cart stops moving...)
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To: Benito Cereno

Bet he wouldn’t be so smug if his publisher refused to send royalty checks for his books


42 posted on 06/06/2015 5:58:27 PM PDT by DakotaRed (Why not just pass a law requiring criminals to obey the laws?)
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To: Benito Cereno
Forty years after I took out my first student loan, and 30 years after getting my last, the Department of Education is still pursuing the unpaid balance.

Compared to today's prices, college 30 years ago was a relative bargain. I suspect that the quality of the product was better, too. But 30 years ago, the colleges didn't have 15 bazillion deans and assistant deans, or "world-class" exercise/recreation facilities. They couldn't afford it.

BTW, I would like to have a Mercedes. And not have to pay for it.

43 posted on 06/06/2015 6:00:00 PM PDT by Sooth2222 ("In a democracy people get the leaders they deserve." - Joseph de Maistre, 1753-1821)
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To: Extremely Extreme Extremist
How much money does the government piss away on green jobs and stuff?

That thought certainly makes tax time depressing.

44 posted on 06/06/2015 6:02:22 PM PDT by Greetings_Puny_Humans (I mostly come out at night... mostly.)
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To: rstrahan

Revisiting them… Sure. I don’t have a problem with that.

To hear liberals talk, college students are the most amazingly talented and morally pure citizens there are. If there damned Smart enough to sign their bloody name to a contract they should be held to it.

If you’re not going to do that, student loans should be just as hard to get as any other kind of loan, and carry the same obligation to pay back.


45 posted on 06/06/2015 6:04:38 PM PDT by rlmorel ("National success by the Democratic Party equals irretrievable ruin." Ulysses S. Grant.)
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To: Benito Cereno

The example set by leaders in this country is to cheat and lie and game the system.

It trickles down.


46 posted on 06/06/2015 6:05:48 PM PDT by spodefly (This is my tag line. There are many like it, but this one is mine.)
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To: Benito Cereno

Student loans should only be given in the proportion to what said degree is worth in the market place. Example—At this point in time, a humanities degree should probably only garner a loan of about 20% of total cost while a degree in the hard sciences could garner 80-100%. Any institution that would give a full or nearly full ride via loans to one seeking an English/Sociology or any humanities field degree should lose every penny they loaned out. But you see as long the schools are winners (as they are paid ‘up-front’) and with the government now in control of nearly all student loans, the losers are the students stupid enough to take out such loans based on economic lies given them by college recruiters, and of course the taxpayers. So NOTHING is going to change.


47 posted on 06/06/2015 6:06:01 PM PDT by yadent
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To: Benito Cereno

The hallmark of a liberal is the ability to rationalize their behavior no matter how immoral, illegal or perverted.


48 posted on 06/06/2015 6:06:34 PM PDT by Brooklyn Attitude (Things are only going to get worse.)
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To: Benito Cereno

You know we have bankruptcy for reason. We see people everyday get in over their heads on credit cards, medical bills, etc., and that seems okay.

But students loans we seem to look at differently, why????????????

If you can’t make the payments, you can’t.


49 posted on 06/06/2015 6:06:44 PM PDT by Captain Peter Blood
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To: TomGuy

Yep, you’re the kind of fellow citizen I want around me. Not a wienie douche bag like this dumbass.

I can brook a lot of things, but giving your word and borrowing money, then reneging on it is something that infuriates me. .


50 posted on 06/06/2015 6:07:12 PM PDT by rlmorel ("National success by the Democratic Party equals irretrievable ruin." Ulysses S. Grant.)
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To: Benito Cereno

It’s theft, pure and simple. Too bad they can’t foreclose on his education, such as it is.


51 posted on 06/06/2015 6:07:42 PM PDT by SkyDancer ( I Was Told Nobody Is Perfect But Yet, Here I Am ...)
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To: Benito Cereno

This guy probably wants free clothing, food, and car along with his free education. The use of the word “government” means he is immature enough not to know that it means his WORKING neighbors. He stole their money.

Remember that after compulsory school, people were supposed to get a job. In Dad’s business, or somewhere else. Apprentice yourself out. University was for the rich. It gave them an advantage in becoming white collar workers. If everyone is a white collar worker, there won’t be jobs for them. Most degrees are really just for “fun” and won’t earn you any money. You can’t even wash cars with a Latino Studies degree.

Everyone is not supposed to go to college. Then it would be just 13th through 16th grades. And about as useful. There is very little other than social stuff you learn from school. You can get more objective facts on you damn phone than you can from a biased or out of date textbook.


52 posted on 06/06/2015 6:08:11 PM PDT by Yaelle ("You're gonna fly away, Glad you're going my way... I love it when we're Cruzin together")
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To: Benito Cereno
“There would be a national shaming of colleges and universities for charging soaring tuition rates that are reaching lunatic levels. The rapacity of American colleges and universities is turning social mobility, the keystone of American freedom, into a commodified farce.”

I totally agree with what the writer said here. Tuition rates in most schools are immoral. The schools know they can charge them because they depend on students and their parents to take out student loans, not caring that these students will be in debt for years, even decades in many instances. Higher education is quite a racket these days. Combine this with the wonderful Obama economy, where the odds of graduating students actually getting decent paying jobs in their field have declined significantly, and I can sympathize with those who are struggling to pay off their loans. Now do I excuse those who are not paying? No. But I do believe that a big part of the problem is caused by the skyrocketing tuition, student fees, and textbook costs that have increased way out of proportion to the rest of the economy.

53 posted on 06/06/2015 6:09:00 PM PDT by Nevadan
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To: Benito Cereno

An irresponsible moron, yes, but the practice of casually enticing dumb young kids to sign for ungodly sums to pursue a degree in African American studies —or a dozen others— is just plain abuse.

COLLEGES should share the risk of kids studying liberal arts degrees.

They’re so eager to make them “WELL-ROUNDED”..?

PROVE IT.

This is all a huge, huge scam but because they’re PROGRESSIVE, they get away with it, scott-free.

They’re no better than the 1% they degree so extravagantly (and expensively).


54 posted on 06/06/2015 6:10:42 PM PDT by gaijin
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To: Captain Peter Blood

I would be perfectly comfortable with allowing this guy to default on his loans, but only if he allows us to strap him to electrotherapy machine so what he has stolen illegally (as worthless as it seems to be) can no longer be used by him.


55 posted on 06/06/2015 6:11:23 PM PDT by rlmorel ("National success by the Democratic Party equals irretrievable ruin." Ulysses S. Grant.)
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To: edh

Love your post. Didja win anything today? My virgin trifecta and boxed exacta were nada but we did turn over a pittance for straight win on American Pharoah. What a horse.

(And I do wish some of my tax dollars were going to your retro gaming plans. And not slow speed trains to Nowhere.)


56 posted on 06/06/2015 6:11:36 PM PDT by Yaelle ("You're gonna fly away, Glad you're going my way... I love it when we're Cruzin together")
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To: yadent

Very well said.

Agree 10,000%.


57 posted on 06/06/2015 6:11:59 PM PDT by gaijin
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To: Benito Cereno

My son did the right thing and paid his in full early. He didn’t have that large of a loan, though - not like the mega loans some of these kids saddle themselves with. I’m very proud of him.


58 posted on 06/06/2015 6:12:03 PM PDT by FrdmLvr ("WE ARE ALL OSAMA, 0BAMA!" al-Qaeda terrorists who breached the American compound in Benghazi)
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To: Benito Cereno

Just another Liberal scheme. I still say the 2008 financial crisis was a manufactured panic.
Proof being that those in charge changed NOTHING!


59 posted on 06/06/2015 6:14:29 PM PDT by griswold3 (Just another unlicensed nonconformist in am dangerous Liberal world.)
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To: SkyDancer

This infuriates me. My parents couldn’t afford it, but they did say that they would’ve found a way to pay for college education if I wanted one.

Instead, I joined the Navy, and when I got out, or use the G.I. Bill, lived at home and commuted to school, and went to a state school. I also held down jobs so I could pay for my own expenses and books?

This clown wanted to go to an expensive school and live the high life, what you should’ve done was had consideration for the people who pay his bills for him, what you should’ve done was had consideration for the people who pay his bills for him.

Instead, we get this no-load, freeloading scum. He should be horsewhipped.


60 posted on 06/06/2015 6:17:33 PM PDT by rlmorel ("National success by the Democratic Party equals irretrievable ruin." Ulysses S. Grant.)
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