People stupid enough to borrow $90,000 in student loans deserve what they get.....especially those who do it earn worthless liberal arts degrees!!!
This was all calculated and expected, I assure you. The Obama regime WANTS debt slaves. They want people to owe them. They might give them a pass to appease them, a surreptitious vote buying scheme, but in the end, they’ll owe that money whether through taxes, direct payments, or even estate seizures after they’re dead and buried.
I’m thankful that I paid off my student loans 5 years ago. That’s one very large chain off my shoulders.
Debt collectors across the board are much better off than they were four years ago.
Debt collection is one industry which deserves close and rigorous regulation. They’re scumbags.
One company based in California calls and sends me letters trying to recover debts I do not owe to San Antonio hospitals in which I have never received treatment. NEVER!
Complaints to the Attorney General of Texas were simply forwarded to the Attorney General of California who simply forwarded the complaint to the scumbags who answered with a truly BS reply. They basically claimed I was covering for someone within my household who did owe the debt. Scumbags!
After several months of not hearing from them, thinking my demand they cease contacting me and remove me from their database, they started up again!
Scumbags!
“Big Education” makes “Big Oil” look like choir boys by comparison.
Whatta liar. You don't go into repo unless you're a conscience-less blood sucker. I once talked to a used car dealer who wanted my comment about a psychological profile that showed he "lacked empathy." I just told him he was in the right line of work.
Nor will you be able to leave the sinking ship, like your Rat masters will, in the end.
I’m more worried about Ms. Cordeiro putting junior in the back seat of her (expensive-looking) vehicle than about whether she’s a deadbeat. I guess no one ever told her how easy it is to forget about a kid back there (particularly if a debt collector calls), and thus put him at great risk, particularly in the summer.
Tragic.
Being limited to the 1st 2 years of post secondary "Higher Learning" costs, it served the purpose of luring in marginal students to 'try out' for those high-paying college graduate jobs. It could not be used for technical or direct skills training courses. Thus students (or parents) are encouraged into "Higher Learning" but with little regard as to what the end expense may be.
Strange thing about "Higher Learning" costs in the past several decades, no matter what the inflation rate or cost of living indexes may show, the tuition/residence/materials cost goes up. In the 1986-2011 time frame, the CPI went up 115% while Tuition went up 498%. Add to this is the fact that the "Higher Learning" employed financial advisors are there to KEEP THE SEATS FILLED and not for the financial benefit of the student.
Is "Higher Learning" a racket? /sarcasm
Is College a liberal stalking horse to destroy our culture? /sarcasm
“By the time the government caught up with him, Mr. Chaskin owed more than $19,000 in accumulated interest and penalties, but the judge reduced the amount to $8,200 after Mr. Chaskin pleaded for a break.”
He should have to pay it all back, especially since he had $20k to play with in a brokerage account. Other than that, people (parents and kids) are learning serious lessons about taking money that is offered to you as a loan.
And remember, as bad as the tactics sound here, try borrowing from a shark (like my neighbor did a long time ago), their ways of dealing with deadbeats are a bit more, how do you say, effective (although in his case, he paid it back per plan).
Even setting the “basketweaving” PhDs aside, consider how many people we all know (including sometimes, ourselves) who are or were employed in a field almost completely unrelated to their undergraduate majors. In the days of “liberal arts education”, it was not unusual for the biology major to end up running a bank, under the theory that a four-year degree taught critical thinking and analytical skills that were transferrable beyond one’s area of major study. Even if, in today’s much constricted jobs economy, that is still somewhat true, it’s a very expensive gamble for an uncertain outcome.
And, what happens to the lifetime earnings, not to mention the student loan repayment timetable, when you allow for the years living in mom’s basement and/or the years working below one’s potential (underemployed)?
No one needs to accrue $90K in loans. If you can’t afford a big-name school, don’t go there. Go to community college and a state school. For most jobs, once you’re out in the workforce, nobody really cares where you went to college.
I’m actually one of the guys making good on my old student loan. About time I made that amend.
Geez, stop borrowing money already.