Posted on 06/26/2017 8:16:08 PM PDT by GuavaCheesePuff
The nation owes about $1.5 trillion in student loans today. Nearly $1 trillion of this was added during the last president’s term. Student loan debt has skyrocketed past credit card debt, and all other revolving consumer debt combined. By the end of next year, the country will pass the $2 trillion mark.
This debt is strapped to 44 million people in the country, who carry an average debt of $34,000. Interest alone on this amount is about $90 billion per year. In President Trump’s joint session address last night, however, he said absolutely nothing about the student loan problem.
(Excerpt) Read more at thehill.com ...
I paid off every cent of my Student Loan. These millennial cry babies need to suck it up and stop whining.
So how do we fix this? All of those indebted students will vote for socialists. All of them.
Absolutely. Make a different choice.
Steve Jobs and Bill Gates did!
Pay off their student loans in exchange for their right to vote ... permanently ... maybe sterilize them also ...
That's a transition problem. Two steps:
That policy would cause a depression in academia, but academia doesn't have as many votes as college debtors. As long as the policy is made to stick, academia would adapt. There would be layoffs. College presidents would make a lot less. However, they would adapt, there being no other choice.
But the media and the libtard pols would squeal like stuck pigs. It would be up to the president to go over the heads of the media and get the people to insist on the new policy.
You’re right, but its impact is so large that it has become a political issue. The borrowers are basically saddled with debt that in all likelihood can’t be repaid, and they are determined to make this OUR problem. I don’t want the debt forgiven, but I also understand they will vote socialist until this is addressed. As long as we win elections, no problem; the last eight years show what happens when we don’t.
This guy sounds like one of the idiots who think it’s a good thing to tell credit card debtors “the secrets the companies don’t want you to know”....
No one forced them to take loans.
Yep,
Everyone must have a Chief Diversity Officer, a Gender Officer, and the like. All making huge salaries.
friend’s daughter took out 60 in loans. Parents coulnt help in education. She became a nurse, moved home. Parents supported food and housing at home, she worked 60 hours a week nights for almost two years and everying she made besides gas money and essentials went on the loan. She walked away from her parent’s house at age 24 debt free with money in bank for apartment and car downpayment.
The Hill Editor In Chief:
“Alan I need a Trump silent on crisis piece on my desk tomorrow”
Alan:
“What crisis?”
The Hill Editor In Chief:
“Any crisis, make something up. That’s what I’m paying you for.”
The Army paid for my bachelors and masters degrees. I had a 4 year ROTC scholarship that paid everything but room and board. I've heard of some universities now that provide scholarships for that, as an inducement to attract these students. My summer jobs paid for that, and I'm not complaining.
I used the GI bill my last two years on active duty to complete my masters degree.
Wall Street, Detroit, Solyndra anyone?
The student debt is preventing loan approvals for housing (as it should). The academic community baited and reeled in enough suckers to collapse the housing market, which then downstream collapses just about everything else. Plot execute exactly as planned.
Student loans need to allowed to be dischargeable in Chapter 7 bankruptcy. Period.
As a privileged heterosexual white male going to college in the 1980’s, I had the privilege of going to a school where I got “in-state” tuition and where it was necessary for me to work part-time while in college to pay my way. I didn’t take out a loan, and I didn’t sponge off my parents except where absolutely necessary. I left college debt-free with a job.
I am in no way shape or form responsible for (nor sympathetic to) the subsequent generations of snowflakes who do not possess the backbone nor a sense of personal responsibility to pay their own way.
Trump should fight the student loan crisis by launching an FTC investigation of Big Ed for consumer fraud.
..."The Plumber"....
As I see it, the universities are shielded from bankruptcy consequences. When a debtor receives discharge, it is the lender and/or taxpayers who foot the bill. The university was paid upfront. The only thing that will bring some sanity to the system is when parents, students and lenders stop lending money for the fluff courses and universities stop requiring them. And when universities stop wasting tuition money teaching remedial courses which should be mastered before admittance. As long as the universities have an incentive to provide more and more courses and programs with no economic benefit to the students, the system will continue to spiral out of control. The students need to march on the universities, not to demand more identity programs, but to demand economic relevance for required courses.
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