Posted on 10/20/2011 8:31:28 AM PDT by Michael Barnes
Giving validation to Occupy Wall Street protests over the increasing burdens of student debt, a new report indicates that the total amount of outstanding student loans this year will exceed $1 trillion for the first time.
In addition, the amount of student loans taken out last year was greater than $100 billion, another new record, according to USA Today, citing the Federal Reserve Bank of New York.
Read more: http://www.politico.com/news/stories/1011/66347.html
Why are they not protesting the high cost of the colleges??
You know WHERE that trillion came from? It came from the GOVERNMNET (read “you and me”) and when to support the trashy liberal elite at colleges and universities with six-figure salaries, and fat benefit packages.
Meanwhile kids came out of those “universities” with a head full of mush and barely able to read and write.
What a scam!
I would like to know how much of that figure is delinquent. How much is in arrears and for what period of time? Months/Years?
By show of hands, who thinks student loans are so students can get an education? Anybody?
Nope. These loans are welfare for college professors. How else could somebody make $110,000 teaching Quadriplegic Dancing and Interpretive Groaning?
Let’s see, what other welfare programs could we get rid of? UN payments? Most foreign assistance? Most Federal jobs?
I am hearing some of these commie's calling for loan forgiveness. Besides the fact that its tax payer money in the first place, what about all the RESPONSIBLE people who paid off their loans?
I have no sympathy for these "kids", they signed the paperwork, they pay it back; in full.
I've always figured that 80%+ of the dregs in these protests were there to squeal about their $100,000 in loans for that genders studies degree. I do love to see these idiots faces when you tell them that fed student loans don't go out the window during a bankruptcy...it stays with you forever.
Odumbo might try to stir them up with more class hatred though....Then portray himself as the one who will “help” them in his next term.
What a situation we are in. Obama is only the major symptom...Our real disease is that we have so many in this country that voted him in to be potus.
That’s just a massive number in student loans alone.
With the “hardship” and “forbearance” applications these kids can sign up for, they can extend their “payback” for quite a few years. They just won’t realize until its allllll run out that they will also owe MORE interest.
I give them credit they plan ahead.
They made themselves slaves to the Federal Government, not us.
From comments at the link:
“”The 99 percent website is one of the places where the Occupy Wall Street movement first got its inspiration.
“I am a young medical professional who BARELY makes it paycheck-to-paycheck because I have over $200,000.00 in student loan debt,” says another testimonial on the website Tuesday. “I pay almost $1,000 a month just in student loan repayment. I will have to do so for the next 30 years. How will I ever afford to buy a house, have children or save for the future?””
Can’t help but wonder when this dawned on this person. I don’t think any of us have gone to a doctor or a dentist who hasn’t been paying off student loans. They didn’t take to the streets; they worked their practice, paid off their loans and did all of the things this person is worrying about. It never dawned on them to complain to the government..
That would mean that they would have to publically take a stand against their Professor's income and tenure. And any student that would 'dare' do that, would be labelled far worse than merely a 'nutjob conservative' - this means that there would most definitely be repercussions as far as that student's grade - and their GPA will follow them the rest of their life.
Certainly, you know what happens when a conservative student challengers a libtard professor? Grade of 'A' suddenly become a 'C', extra-credit cannot be offered, benefit of the doubt is non-existant, and daring to ask for help is met with condemnation and humiliation. Whereas a Sheeple receives help, extra credit, benefit of the doubt and average work is given an 'A'.
Student loans were absolutely the worst thing to happen to higher education
The increase in the cost of a college education FAR outpaced inflation since student loans were instituted
On the Florida Has a Right to Know site, 11 Universities in our State alone have a payroll of $2,656,609,555.72 per year not including Coaches and Athletic Staff.
Money’s gotta come from somewhere!
Link:
http://www.floridahasarighttoknow.com/search_state_payroll.html
Very, very serious question here.
What would be the consequences of ending all Federal Student Loan programs?
If the Federal Government stopped insuring Student Loans for College Students, what would the results be for Loan Companies, Students, and Colleges?
Forgiving the debt would just give these brats room to run up more of it.
If you can do it once, then you can do it over and over again.
And the people that actually paid theirs back? All they get is a nice pat on the head from Obama, and are told to show their own way out.
college for many if not most has been one long joy ride of drunkeness and sloth and yet the people that actually got into the work force now are going to get the shaft again?......
where is the equality in that?
of course, dismissing college loans would be a boon to two of my children....but the larger picture is forgiving college loans is totally unfair to those who are doing important work that didn't require a flimsy college degree.....
About 2 weeks ago, I saw a pic of one of the “99%” who took a pic of herself with her cellphone, holding a piece of paper with her complaints on it.
She wanted her student loans forgiven. She had accrued over $150,000 in student loans while pursuing her Bachelor’s Degree in Minority Women’s Studies. She was mad because she could not find a job in her chosen field that would pay her enough to live in the manner she was accustomed to, while paying her existing loans off, and simultaneously accruing even more debt to pursue her Master’s in the same subject.
These people could not accrue such debt had they not completed the intensely invasive student loan application process along with her Parents who had to produce multiple personal tax returns before they signed to back all of those loans as well.
These people know full well that they voluntarily took on this debt, pursuing a degree that they themselves chose. Expecting the taxpayers to take on that debt for them is pure fantasy and proves that these people have such a tenuous grasp on reality I wonder how they have managed to survive this long. (Rhetorical flair there....).
I don’t have an answer for that. I do know that we can all say conclusively that by and large, the program is a failure since the degrees are useless and do not garner jobs with the ability to pay back the loan. A vicious circle.
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