Posted on 04/10/2017 4:44:56 AM PDT by C19fan
Caveat emptor. Next case.
In terms of public policy, the government and its entities should not be in the student loan guarantee business.
These bankers are criminals preying on people
Never heard of that. Have heard of aerospace engineering which my kid is majoring in.
It’s basically the same thing. That’s just what they call it there.
He’s following a dream. When he was about 8 he told my wife he wanted to work at NASA and build rockets. He has a job at NASA already with a contractor. Pretty cool.
It seems like a good field. I wish your son all the best too.
It’s basically the same thing. That’s just what they call it there.
He’s following a dream. When he was about 8 he told my wife he wanted to work at NASA and build rockets. He has a job at NASA already with a contractor. Pretty cool.
It seems like a good field. I wish your son all the best too.
The ‘bank’, silliest Mae was complicit. And you as a taxpayer is the victim.
Pro Photography is one of those careers that reward a few stars, and leave the rest starving. There is a surplus of excellent photographers, and many of the best are amateurs.
Its only reasonable to attempt making a living at it if you are a photo-obsessive anyway, and in that case you are certain to be self-taught.
Btw, a lot of pro photographers, even the best, make their actual living (a modest living) teaching photography. Ansel Adams and many of the greats did. And moreover there have been photography school scams forever.
The "dream" was designed to fail. Real professional photographers shoot glamorous commercial buildings and luxurious bar mitzvahs - and even travel to various exotic suburbs. :)
Back in the 60s it was “Airline Stewardess School”. However, the cost was miniscule compared to this Hollywood scam.
The exact purpose of these pull-at-the-heart-strings stories. We are all too acquainted with the left's set up method.
At some point another Bernie Sanders type will make a serious push for nationalization or loan forgiveness or "free" college. And the left is fine with this because they get to raid the treasury to pay for their communist/leftist infrastructure known as "higher education".
I’m probably going to get zotted but I think student loans should be included in bankruptcies. I borrowed 60k to get my degree thinking I would be makin 35k a year starting. every source material insinuating the same. Well now 10 years later and penalties included that total is 100k and still not making that much. The schools from kindergarten up push college as the way to go. It is a bunch of crap. I’m workin for the state now still below 30k a year.
Yes. With at least one exception. In the case of actual sheep, the fleece grows back naturally with no effort from the sheep. And the shearing is not only painless, but a comfort during the hot summertime. God doeth all things well.
Gee, A 150K loan to go to school in Santa Barbara! Brooks has always been known as it was billed, a great photography school BUT like anything else, one should do their own examination of the potential for employment after attending such a narrow career field.
$150K? Wow, some dope obviously had no idea how much money that is and how long it takes to pay it back. Frankly, it is the about the average mortgage on a home. This is a key factor on taking out a loan IOW can I pay it back.
As far as responsibility, well, the school advertises its rates and what you get for it. The lender should have done a examination of the potential for paying back that amount. Obviously they failed and with the dolt who signed the papers are probably equally responsible for this fiasco, morally. Legally, the dolt owes the money and they will be paying their stupid tax for the rest of their life, too bad.
For the record, I am 100% against the taxpayers picking up this. Sorry, you don’t get a trophy for being stupid.
18 year olds, IMO, have no business being able to sign non-chargeable debt for that amount. Most of these kids can barely qualify for a $500 credit card, but are able to borrow $150,000 for a freakin photography degree? Ridiculous. While no one is forcing the student to sign for the loan, no one is forcing the school or the bank to take the loan/make the loan, either, and they have far more information and know the risks far better than the 18 year old does.
No it shouldn't. But student loan debt should also be far more easily dis-chargeable. The fact that they are not dis-chargeable is why african american study degrees are as prevalent and cost as much as a degree in engineering, business or pre-med/law.
I agree it should be able to dis-charged. What did you major in out of curiosity? You can make way more than $30k/year as a retail manager with no degree (eg: publix store managers make $120k/yr)
Most would agree with you. Especially in this age where decent cameras are ubiquitous on any smart device, and with Photoshop and other filtering available, any hack can take decent photos.
What school? Great that he has an internship at NASA. Mine is at Wichita State University.
I don't mean to be critical, but how did you think that borrowing 60k to make a presumptuous 35k would be a good investment? 35k after taxes is less than 30k per year. That's before you make any student loan payments! How much of your loan do you think you could pay off with that kind of salary? How long would it take you?
Sorry, don't advocate for changing bankruptcy laws to suit bad decision-making. Many "rules of thumb" say that you shouldn't borrow more that your expected starting salary.
Everyone does push for post-secondary education following high school--that's because most high schools can't cater to entry-level job training. Given that many entry-level jobs require some kind of professional experience and more in-depth training, it's almost a requirement that some college education is required. It's NOT a "bunch of crap," but you've got to be wise about doing it.
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