very true
Posted on 04/14/2013 6:38:36 AM PDT by SeekAndFind
The St. Louis Fed has published two maps showing state averages for overall amount of student debt and delinquency rates on repaying it.
A high delinquency rate is bad news because it makes it harder for the student to get credit in the future, which leads to a higher likelihood of the student defaulting on other kinds of debt.
Here's the map for highest average student debt.
(Excerpt) Read more at businessinsider.com ...
Would be more interesting to see a loan delinquency rate based on degree program.
I see a lot of kids who are borrowing extraordinary amounts to obtain a undergraduate degree in things like psychology or drama or poetry, without any decent hope of earning money in that field commensurate with the loan payback demands.
If the government was serious about getting loan money back, they’s adjust interest rates so that the most likely to default would pay higher rates.
very true
Don’t blame me for FL...
Maybe I’ll go to the Somalia. I hear it’s wonderful this time of year. /s
By being and unqualified, poorly educated 22 year old from the Hood who maxed out their student loan allotment to the tune of $25K+ dollars to “attend” a make work Beauty School that you barely attend, did not graduate from and did not learn any real skills.
Instead of learning marketable skills, you took the money and had a good time with it.
Now the party is over and they are trying to get you to pay back what you borrowed
Unfortunately, since you dropped out of beauty school, you are now a single mother supported by a number of government entitlement programs and you have no job, no assets and no ability to repay a what you borrowed and absolutely no intention of ever trying to pay back a dime.
In many circles, Student Loans were pretty much the same scam as the Community Reinvestment Act was to Home Loans - a way to redistribute government insured money to favored minority groups who never would be able to repay the Loans.
The Obama Care legislation gives Obama wide latitude to forgive and/or suspend payment on these loans.
This discretion to forgive Student Loan debt will no doubt be selectively extended to these favored Entitled groups on the pretext that the loans are an unfair millstone around their collective necks which preventing them from turning their lives around and bettering themselves.
You, on the other hand, are a person who seriously went to school to build a career, worked hard in school, got a first class eduction and then got a job to start building a life for your self and your family.
You are now making good money and you are going to have to pay back what you borrowed and also pay for the people described above who abuse the system and default. In this bad economy the repayment obligations are crushing you, just like you are going to be paying mandatory crushing health care premiums to pay for the 40 million uninsured free health care, but you cannot discharge student loan debt in bankruptcy proceedings and you go to jail if you don't pay you Health Care premiums so you are screwed.
Good luck paying for a home and car to start you path on the traditional American Dream. Somebody else is living it for you and you are paying their way
The only way out of Student Loan debt is to be a pathetic, judgment proof loser with no assets, no future and nothing that the government can seize or garnish to pay your debt.
You are screwed. If you are a Liberal you belatedly figure out that the system stopped being about Liberal vs Conservative ideology in the 2012 . The new paradigm is the People who Riding the System vs Those Providing The Free Ride.
Obama and the Democrat party no longer need you to be their "Useful Idiot" to vote for them because they have a new permanent of majority of Entitlement Recipients and ex illegal aliens on flooding the Entitlement system and who are guaranteed to vote them in f until the system collapses.
They don't need you anymore and you are now their slave, which is a just and fair way to extend reparations for you and your races past sins and injustices
Awesome. So my hard work and ethical behavior will pay off./s
I have pride, so I’ll never be a piece of shit like those who are. Luckily I won’t owe much as I went to Community College first, and I used my GI Bill.
In other words, in the eyes of many of the people, especially those from the hood, taking out student loan is no longer about a College Education like it has been to most of us, the student loan money is just one more source of easy Obama Cash from Obama’s Stash
Elections have consequences.
We are getting what we deserve and deserve what we get.
In our brave new world of Hope and Change, in the eyes of many of the people, especially those from the hood, taking out student loan is no longer about a College Education like it has been to most of us, the student loan money is just one more source of easy Obama Cash from Obama’s Stash.
I think we can all agree that this is a “Fundamental Change” as Obama promised us.
It's just change we will come to regret.
I think I like the idea of starting an underground nation in Antarctica...or the Moon. I want to be away from most people. Can we terraform yet?
I think I like the idea of starting an underground nation in Antarctica...or the Moon. I want to be away from most people. Can we terraform yet?
We have not yet lost the Nation we already have, which is the best the world has ever seen, quite yet.
It is slipping away while those that could turn things around are apathetic and asleep at true wheel.
Perhaps a better strategy would be to wake up, panic and work hard to prevent our Politicians from sealing the deal.
We are at a tipping point but have not quite tipped past the point of no return.
FWIW, Amnesty and gun control are key provisions to sealing the deal.
I haven’t really given up yet. My brain is just fried from working on a final project for 14 hours a day since Wednesday. It makes one a little “off”.
The fact that student loans cannot be discharged in bankruptcy is immoral. This program needs to be reformed.
sorry, EE (if I may be so bold as to call you “EE”) I am holding you personally responsible for every last deadbeat student in FL! So there.
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