Posted on 07/09/2023 9:20:37 AM PDT by Libloather
“Tuition went up exponentially and all involved forgot to factor in that the victims they’re ripping off are the least able to pay it back and the interest makes them hopeless”
Kind of sounds like the national debt.. hopeless..were all on a downward trajectory.
A kid with a 100k loan needs to be able to manage a $200 a month payment
His parents have to advise him on that. What profession and lifestyle will allow such a situation. That is the discussion that needs to be had among the family. They are so leftist they trust the institutions
The parents are more to blame for this crap
Gouging. Yes. It is price gouging.
“ Why did you BORROW money that wouldn’t ROI? “
Why? Because he still needs parental advice. Mothers tote their kids off to daycare at six weeks r
Then pretend the kid doesn’t need them. They need parental guidance way into and beyond college
I know parents who let their kids study philosophy. The school and the parents are to blame
In this economy?
Where are their brains. What are they paying attention to?
Gee: I wonder why the government took over the loan process...
/s
“ Oh most certainly. But the predators should clean up the mess, not the taxpayers.”
Well taxpayers had better get involved In this a whole helluva lot more than blaming the kids. It’s going to come back on them in the form of a bad economy and young adults unable to have jobs, families and unable to pay tax, social security? Medicare for the older generation of stupid ass parents who allowed these schools to rip off their kids.
“ Jarrett is stupid.”
I’ve got news for you. Jarrett is typical
“We already had a plan to repay student debt. It’s called a job, and it was working just fine before Pres. Biden decided to transfer debt from coastal elites who chose to take out loans to hardworking Americans who didn’t.”
Senator John Kennedy (R-LA)“
People love this guy. He’s an out of touch bloviator. Has not a clue what’s going on here
Tge schools are price gouging. Tuition is set for the 2009 Obama plan of government takeover of student loans. Biden and tge schools freaked when thery saw tge exponential disaster of interest laid on these loans
In my family where the large 1980s to 1990s generation all descended from Irish New Yorker finance people No one is married.
That’s what this loan program has fostered. Payback and heavy leverage.
IT, finance, Ivy League, lawyers, accountants- they can’t live
“ If colleges and universities weren’t subsidized by the US Govt., through grants etc., the tuition would be far less expensive because they would have to compete with each other to get students to attend.”
Now people are paying attention.
Yes
People manage to pay off much, much, bigger home mortgages and do it in a reasonable time span. The thing is, you can afford anything, if you make the necessary sacrifices to obtain and retain the possession of the object of your desires.
But thrift and sacrifice are no longer understood to be virtues.
I Hope the bankers have their bags packed, because the usury-based economy is not going to end well.
“I went to college...and paid for it all myself. No loans...
I have a good paying job.”
Me too. Cost me $1100 per year tuition room and board. Got a second degree too. Both skills-oriented.
You know what $1100 gets a student No? One months rent in a house shared with prayers, roaches and a purple shag carpet.
I thought “five figures” would mean up to $99,999 but not six figures. ?
Can anyone tell me what his degree is for?
“ The colleges got the money. They are like a flying school charging big money for pilot training and graduating people who still have not learned to fly an airplane.
It is really fraud on a grand scale.
If these large unpaid loans are a societal outrage, the colleges should pay off the loans. They received the money and provided nothing of value to the borrowers for it. Most of these colleges have huge endowment funds from which they could repay the loans.
The silver lining in this will be young people considering college will be reluctant to borrow money to attend.”
The colleges are the most passive disgusting rip off artis in history. They’re con artists.
They collect $ from the government then sit around completely detached watching this
They provide nothing they’re responsible for nothing
The good colleges do provide internships and work for a reputation the smart kids look at the list of graduates and plan for working. They’re taking 2-3 majors. They don’t drink or do drugs. They borrow a lot there’s no choice but they have a plan for re payment. They network with professors and deans, PhDs.
But to say the kids should get revenge by not attending school is not an answer
My first five years out of engineering school were in field service engineering, three in the western US and two overseas. I never kept a permanent home and lived on the road and had a company car in the U.S. I was able to bank about 75% of my paycheck.
I worked with an obsessive guy who would live off of bargain-basement saltines and peanut butter and bank his per-diem, so he saved even more than me. He was the biggest penny-pincher you would ever want to know.
I hate it when these kids get into financial trouble through their own stupidity, claim “there’s no way out,” and want us to bail then out.
Get the right degree, focus on growing industries, work hard and long hours and you can do it, too.
“ The schools should be on the hook for loans that don’t pay off, imo. The entire university system needs dismantled brick by brick.”
Last I looked there was a Dean of students taking in $5,000,000 per year while graduating a particular law student with no prospects who had to pound pavement for a job $250 k in debt
That’s con artist level gouging
He got an MBA?!
That explains a lot.
I paid for the first two years of medical school as a temp city letter carrier in the summers, $5.86/hour when the minimum wage was $1.60.
Of course, tuition was $1600/year and New York State paid half.
Tuition now is $90,000/year. That’s a lot of copies of LOOK magazine and the Long Island Catholic through the slot.
It's not hopeless.
All it takes is a new government with new priorities.
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