Posted on 09/24/2007 4:53:43 PM PDT by DogandPonyShow
Jan Yoder was preparing for her son's funeral when the phone rang. It was another student loan collector wanting to know when her son would pay up.
Her terse response: Jason is dead. And, she said, "You are part of the reason he took his own life.''
A big reason why the cost of education has skyrocketed is because of these government loans. Think about it. These institutions know that whenever they raise tuition that the government will eventually follow suit by raising the amount they make eligible in federally secured loans. It’s a vicious cycle and it’s just a shame that none of popular the blame for this goes towards the entity that continues to enable schools to raise rates so high - the federal government. But of course most sheeple only see the surface of the problem without even thinking of looking at what lies beneath which is why there are now increasing calls for “free” college for everyone.
Ain’t incremental socialism grand!
I think Big Education is like health care - once the guv starting financing it, the costs skyrocketed.
Risk tolerance, mine was exceeded at $13 grand, I went to work full time, appreciating I could pay it off and still take 1 class per semester. When I started I was going to $25 grand, but debt makes me sick to my stomach. Some say ‘student loan debt is good debt’, maybe in small amounts, but after $10 grand, stop.
Try “Big CORPORTATE Education.”
The left hates corporations, and essentially, that is what the university system has been turned into, with no accountability.
As far as I know, it is the ONLY class of loans whose lenders have such power.
Oh I agree with you there. Suicide is no answer of course. His death highlights a broken sysem though. I assure you. I have been researching the issue for over 4 years and it is draconian. Plus the governemnt is getting ripped off by a few individual lenders who are raking in billions.
Be willing to take the less than perfect job when you graduate. may not be glamorous or what you studied, but it’s better than destroying your credit and there’s nothing wrong w/ working minimum wage if that’s all you can get. It’s likely you’ll get a raise if your any good.
Pay back as much extra as you can, even if it’s only $5 a month.
If you can, pay it back earlier (paid my student loans off over one year early)
Too bad this boy’s mama didn’t teach him about borrowing money honest work, and maintaining your credit.
Student Loans are the scariest debts in the world. Most people don’t realize it, but it’s like owning money to the IRS.
It’s the only debt you can’t bargain down. It follows you forever, and uses the power of the government to chase you. If you don’t pay it “a deferment” it gets bigger and bigger and you can’t bargain with them like a credit card company. They keep adding fee after fee on.
Suzy Orzman says get rid of your student debt first. It can wreck your life.
Hey. Self important blowhard professors need to eat too!
Suicide of the sort we are discussing takes the pain the person feels and exponentially spreads it to those that loved him/her. It is an utterly selfish act.
I don't know jack about Jan, but it doesn't matter; student debt is NOTHING to kill yourself over, and the writer of this piece should be ashamed. It makes me shudder that before I recognized media bias and gained a more balanced outlook on political issues, I agreed with an op-ed about twenty-six years ago that blamed Ronald Reagan for the suicide of a father who couldn't find a job during the recession (which was really a hangover from the Carter Admin).
The person lending the money isn’t to blame. This poor mother, though....
Research the issue before you shoot your mouth off please. You are totally ignorant on it.
I don’t doubt there’s more to this story. The loans might have been the trigger but there’s always a bigger reason.
Before you flame me for that realize I’ve had some first hand experience with this. My heart really goes out to the mother. I never read a story like this without thinking of someone who was very close to my heart.
I do wish to observe though that if the debt was anything other than government backed the student could have declared bankruptcy and gotten rid of it. No private lender can exert that kind of “I don’t care if you have the money you’ll owe me the rest of your life” presence.
There’s a serious double standard with debts and whether they are owned by “evil corporations” or “benevolent government”.
I once had to work w/ them... the student loan people made the IRS look downright compassionate. They hire the nastiest, most hardball collections companies in the world. My boss thought I owed a bookie....
Student Loans are NOT dischargable in Bankrupcty.
It is one of the few remaining virtual debtor’s prisons left.
It is also one of the reasons why university educations have lost value since they do not have to compete.
If the loan program is so bad - DON’T TAKE OUT A LOAN!!!
I saved every penny I could so my kids didn’t have to take loans. They worked full time & went to school part time. I helped them every semester, but my oldest paid all his costs for most of his schooling. Didn’t take an loans, paid for the whole thing in cash. Took a bit longer than some of their friends, but they didn’t graduate w/ millstone around their necks.
Better. yes?
I didn’t stick you with paying off loans for my education; you shouldn’t be able to stick me for the cost of your loans.
Don’t want to be buried in debt? Pick a major that teaches you a useful skill, go to a college in your price range, and either graduate in 4 years or less, or earn your keep while in college.
No, the IRS can actually dealt with. It won't be fun getting there, but you can walk away with a deal. Student loans are closer to child support obligations.
A college education is vastly overrated. Many tech. school, Junior/Community College grads and military veterans make much more than 4 year degree holders. Also, most salespeople who are at all successful earn six and seven figures (many with high school diplomas, G.E.D.s or less) as many here can attest to, I’m sure. Not everyone should go to college...
Quit being so hard on the poor young people who are being victimized by the Bush/Cheney corporatist regime, which means they’ll still be living in Mom’s basement at 40...It’s not their fault! Boo hoo...
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.