Posted on 06/17/2019 11:13:11 AM PDT by Hojczyk
I have $235,000 of student debt. The first $120,000 came with a bachelor’s degree from my state school. Another $70,000 or so came with my master’s degree. The remainder is accrued interest.
I would have to begin devoting half of my income to debt payment if I cared to pay it off by 2042. I can’t do that because I make just under $4,000 per month. And that income is a fairly new development in my life. Why would I choose to pay down my debt if it meant I wouldn’t be able to afford basic living expenses?
My parents are in their 60s and 70s and will live the rest of their lives with my student debt. Likely so will I. Again – we won’t be alone.
Three million Americans over the age of 60 are paying off student debt. Approximately 40,000 of them are having Social Security or other government payments garnished.
College was supposed to be about getting ahead in life. But it’s become a driver of inequality.
It does not have to be this way.
Some economists say that forgiving student debt would boost GDP by $100 billion per year for ten years and add several million jobs to the economy. It would unlock the capacity of 44 million Americans to buy homes, launch small businesses, and retire with dignity.
Congress could pay for it by repealing the $1.5 trillion tax cut it passed in 2017. Primarily benefiting the wealthy and corporations, even Goldman Sachs says that whatever economic boost the tax cut brought with it has passed.
And to keep future generations from suffering under the burden of student debt, Congress could make public colleges, universities, and trade schools in the United States free.
(Excerpt) Read more at finance.yahoo.com ...
The problem is the ridiculous cost of college. There is no reason tuition and expenses should be what they are. In fact, the ONLY reason universities get away with charging what they do for a “non-profit” organization is because of the easy loan structure and financial set up of these government funded, or dynasty funded, boondoggles.
As it is currently structured, the wealthy write checks. The poor get government grants, the middle class get saddled with easy to get loans that can’t be afforded. Universities are never at risk and collect cash to fund jobs and construction projects. They don’t need the middle class and the government owns the loans.
There is no incentive for a university to be managed cost effectively OR provide a decent education. They are mostly simple employment factories that churn out degrees and fancy construction projects.
If the government would quit funding universities and make the universities back their own tuition loans, the problems would fix themselves. In short, get the federal government out of education and more students would get “more smarter”.
This is why we have garnishment of wages.
However, student loans should be dischargable through bankruptcy.
His website: http://www.simongalperin.com/
He is a leftist totalitarian fascist from Rutgers and CUNY who is a journalist who has this hobby horse to ride.
Social Journalism, M.A., 2016Engagement and innovationNewmark Graduate School ofJournalism at City University of NY2016
Journalism and Media Studies, B.A.,Media anthropology and public policyRutgers University—New Brunswick2014
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Reddit ....
He can and should pay it back. Start right away. Over a period of time it adds up.
Get a job, don’t spend all the money, take some off the top and pay the student loan. That is what helped him get this far.
So that's what they are calling porn these days?
No, he’s making 48K a year. Angry studies doesn’t pay that.
Nothing useful, from the sound of it. So the rest of the country is supposed to relieve him of $200K in reckless spending?
Won’t ‘free college’ lead to many more of these indoctrinated, useless jerks?
It does not sound like it. What did he do during the summer.
Student at the college I work at can earn about $7200 a school year by working in the library. At many colleges students who are hired as RA’s (residence assistants) can receive a good stipend or free room and board.
I got the Master's -- working on the Bachelor's.
He holds a Social Journalism MA from the CUNY Graduate School of Journalism.
His Bachelor's degree is in Journalism and Media Studies (Media anthropology and public policy Rutgers University—New Brunswick 2014).
His Master's degree is in Social Journalism (Engagement and innovation Newmark Graduate School of Journalism at City University of NY 2016).
-PJ
Curious - why doesn’t he blame the hordes of leftist academic parasites who live off the $Trillions in debt of students?
Somebody (like me) who worked part-time all the way through school has the common sense benefit of understanding the value of a dollar and what size of debt makes sense given the entry level income potential for which the degree prepares them. This person was not just stupid, but insane. Either the parents are just as stupid as their child, or they went to sleep at the wheel. This is beyond absurd.
And this creatures subject of study that required a masters? And he’s making $4k/month. Maybe he should take a sabbatical and attend a trade school. Saw an ad near me recently for a welder paying between $40-$70/hr depending on skill level. Then again, mr. masters may like his $20/hr position.
What “state school” costs $40k a year? This is very nearly ivy league school costs, like a Princeton. I’ve got two in college right now, and costs are a fraction of this.
This does not make the case for free school. It makes the case for this person being an idiot. Never repay? Better start, you owe, pal. Time to be woke.
Love the comments at the Yahoo! site.
The commenters aren’t buying what this whiner is peddling.
Final answer: He received his master’s degree in social journalism at CUNY Graduate School of Journalism in 2016 and his bachelor’s in journalism and media studies from Rutgers University in 2014.
College was supposed to be about getting ahead in life. But it’s become a driver of inequality.
It does not have to be this way.
—
.... so who put a gun to your head and made you take out 235k in student loans?
I finished both my engineering programs (BS/MS) owing NOTHING. Paid as I went.
What?
WORKED your way through school? Took night classes?
I’m such a rabble, I know. One of the unwashed masses.
The first clue is it took this moron until 29 to get a BS and Masters.
The first clue is it took this moron until 29 to get a BS and Masters.
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