Posted on 08/03/2022 10:12:27 PM PDT by grundle
How much/little did she pay on the debt in the last 30 years? Apparently, not much.
That is on her that the amount has increased to such a level.
Ironic that so many of these sob stories about poor widdle former students owning massive amounts of college debt went to law school.
We should not be on the hook for those people in any way, shape, or form. Never.
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I don’t disagree. Although, we seem to be on the hook for for billions of dollars everywhere else the government wants to waste our money.
I don’t know or have a solution. I don’t necessarily agree with canceling student loan debt at the taxpayer expense.
However, I also really do believe that these are predatory loans. I feel that the colleges should be held accountable for some of it, but the government has also been deeply involved.
The only thing I do know is that some major changes need to be made. They should be required to give the accruing interest charges, the amount you owe after college, the monthly payment, along with the length of the loan.
If they were required to disclose those terms, I really believe the the majority of college kids would say no thank you.
As in the case of my daughter, she realized she could not afford those payments when it was written out in black and white.
Agree completely
I understand. I apologize for being strident and painting with a broad brush. I didn’t need to do that to make my point. But I feel very strongly about this.
These are predatory loans because the government has allowed them to be that way. But there are a lot legal things a person can get ensnared in.
Your daughter was fortunate. She at least had the good fortune to be on speaking terms with her parents, and the common sense to ask your opinion.
There are many not so lucky. And that is a hard lesson to learn in life, that there are people who wish to make you part with your money, regardless of how that leaves you.
When I got out of the Navy and went to college, that was right around the time when credit card companies began going to colleges and giving ANYONE a credit card who wanted on, albeit at a large interest rate. Now, I didn’t know squat about compound interest, but I did know that having loose access to money was bad for me because I wasn’t that bright...though I was bright enough to know that, so I never signed up.
It is up to each individual to look out for their own well being.
I was lucky, in that I had already learned a lot of lessons by ignorantly banging my hard head and learning too many lessons the hard way. I was never one to whom those lessons took an easy path.
I’d guess she was a crappy Jacoby
B S.
I understand. I apologize for being strident and painting with a broad brush. I didn’t need to do that to make my point. But I feel very strongly about this.
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No apologies needed. I understand your point, and I don’t completely disagree with you.
I think almost everyone here feels the same, if you borrow the money, you pay it back.
However, I just wanted to give you and everyone else a little perspective on how these kids can get so into debt, without having the slightest idea about what they are signing.
I have taken out a lot of loans in my life, and I always had to qualify for it. I was always was shown the monthly payments and the length of the loan.
These kids are shown none of that. They are so excited to get to go away to school. They happily check the “accept box”, and off they go.
Yes, my daughter is lucky that I was there to pull her head out of the clouds. She was so disappointed that she couldn’t afford to go away to school.
Especially, since she already had her ROTC scholarship pulled from her over the Covid vaccination.
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