College Debt Bubble Crisis: 33% Of All Student Loans Are Delinquent On Repayments

Market Daily News ^ | 03/31/2015 | Mac Slavo

[Lumper20]

True.

[blackdog]

It will keep housing prices low and rents sky high, as poor repayments on student loans will prevent home purchases by the next generation.

He-He-He..........To all of those who think paying for your kids education is something other than your and your child's personal responsibility. I lived poor a lot of years and took a lot of crap from my extended family (most of who work for the government) for not taking out loans. I drove 20 year old cars. No vacations. No toys. No spring break nonsense.

No debt is the best gift you can give your kid for a college graduation present. No style or bling to it, but it is the best you can give.

[Lumper20]

Good. I knew a gal with an art degree who did art work for the yellow pages. She topped out at 30K in the early 1990 timeframe.

[DannyTN]

I think I would like to see the delinquent percentages broken down by major field of study.

Default by major at Texas A&M

Renewable Resources had a 50% default rate. Suprisingly teachers had 0%.

[Lumper20]

I highly doubt that. Obama and his free two years of college idea makes no sense. Affirmative Action has failed.

[Mouton]

There was an earlier story today about someone doing a student loan repayment boycott. Since nothing happens in a vacume when it comes to the entitlement society, I guess they are beating the tom toms for a debt forgiveness program now for delinquent student loans.

[Chickensoup]

You are all assuming that these loans are for loans taken on four year colleges and most finished.

Many of these loans have been on two year schools, beauty schools, welding school and whatever schools the guidance counselors could get incompetent unprepared inner city youth and other teens into to make stats look good.

[Jan_Sobieski]

1) Federal government makes the student loans and backs them up with taxpayer funds.
2) Student loans are not dischargeable in bankruptcy.
3) Because of (1) and (2), loans are easy to get. Student goes and gets easy money loan.
4) Colleges say "cha-ching!" and raise tuitions.
5) Students in debt that cannot find jobs are offered Americorps (brownshirt) jobs for tuition reimbursement (and votes).
6) Brownshirts are tasked with investigating right wing extremists and policing fairness doctrine in all forms of communication
7) Brownshirts are paid to uncover all sedition (disagreements with progressive elites)
8.) All seditious parties are locked up into detention centers and forfeit property and belongings to brownshirts
5) GOTO (3) until the system collapses.

[familyop]

Academic, government-linked business and political administrators and politicians are frauds, thieves and robbers sucking on big, recirculating debt for their luxurious lifestyles. They sit on their socialist perches, falsely accusing and projecting their crimes on those who struggle to survive.

Go nonpolitical. Live as though political speech saturated with promotions for abominable, pathological social practices cannot be heard. Become more self-sufficient. Maintain all that you have to make it last as long as possible. Learn to do technical work with your hands. Never give up. Never give in.

[Vermont Lt]

Her boyfriend graduated last year. He makes ceramic “art.” He cannot keep up with the demand. This is high end stuff. He is very talented.

He is doing fine. But he works his butt off. He and my daughter are not your “normal” art majors.

I know what people say about liberal arts grads. She was well aware of the Limits of her major. So her debt is minimal and she knows she is never gonna be “rich”.

[ExSES]

College Debt Bubble Crisis: 33% Of All Student Loans Are Delinquent On Repayments

I have a neighbor who was going to marry his old sweetheart but discovered she had almost $200k in student loan debt for her "Native American Studies" degrees... While he gave her a ring, he wisely decided not to marry her (So I and all the tax-paying suckers out there can live with the debacle to come!)

[Lorianne]

Smart move.

[SeekAndFind]

RE: she had almost $200k in student loan debt for her “Native American Studies” degrees...

Do you happen to know what University she got this degree from?

Heck, even a very expensive school like NYU which charges close to $65000 for tuition plus board gives student aid to the tune of $30,000 on average making the net payment $35,000.

[ExSES]

If one becomes a "permanent student" and pursues advanced degrees..., it is easy to accumulate BIG debt to cover living expenses and years of tuition...

Personally, I have little sympathy for those who do so! I had the equivalent of $30K student loan in today's dollars when I graduated and paid it off within 8 years... Of course, back then..., students didn't have credit cards and espresso machines in their apartments.... Also, it was common to work part-time whenever possible!

[Vermont Lt]

30k back in1990 wasn’t horrible.

[Lumper20]

I have two sisters who have liberal arts degrees and they got their masters while being elementary school teachers. One is 69 and the younger one is 60. Both are retired and made about 80 K their last year. Now, I talked a young lady in going to college back in 1982. She got a BSEE and she made over 100 K ten years ago. My BIL who is married to my oldest sister has a BSAE, a MSAE and a PHD in Eng Mgmt. He is a multi millionaire.

[airborne]

Wonder when (IF) students will ever realize it's their liberal professors and liberal administrators who are creating the biggest part of the ever increasing cost of "higher education"?

But these will be the same academia leading the charge for "free education" and wiping out all student loans, so I have little faith in the heads-full-of-mush.

[stephenjohnbanker]

I agree with you.

[stephenjohnbanker]

Yeah, they are one of the safest bets.

[stephenjohnbanker]

“No debt is the best gift you can give your kid for a college graduation present. “

Absolutely.