Posted on 05/06/2018 10:57:14 PM PDT by Wally_Kalbacken
Rick Tallini didn't worry much about the $55,000 in federal student loans he took out for law school in the 1990s. His future seemed bright.
Yet in the decades since he graduated, he's struggled to find employment and pay the bills. His original student loan balance, meanwhile, has soared to well over $300,000.
"They'll tack this thing to my coffin at this point," Tallini, 61, said.
(Excerpt) Read more at msn.com ...
Exactly. Tuition costs have steadily risen and risen since the 70s because government created a bubble in the market with guaranteed loans.....which uniquely cannot be discharged in bankruptcy. Then to top it off we just went through the worst economy we’ve had since the 1930s. It’s hardly a surprise there are a lot of defaults.
The thing is if that many can’t repay their student loans, they won’t be able to buy real estate. That knocks out a significant chunk of the market. At that point it’s everybody’s problem.
LOL!
I get all of the moral hazard arguments against doing anything about this (I paid off my student loans over two decades ago).
But if Trump is smart he will do something to offer relief. This issue is a ticking time-bomb in the body politic. Sooner or later some party or candidate WILL offer loan forgiveness, and they WILL cruise to a massive win at the ballot box.
Given the state of today’s Democrat Party I don’t think we can allow this to happen.
Is he an idiot?
I know a few too many starving Jacoby's....
It's like "teachers" getting their degrees...and bitching about what they make.
Well....maybe not...when I think about it....You can get a law degree...and suck at Jacopy'ing...
Most "teachers"...will get a job...then bitch about their pay.
Ummmm...when I went to college...I researched what I could make.
I've met some dumber than dirt Master Degree dolts.
I've met some M.D. or D.O.'s...that were very lacking...
Letter's behind your name...don't impress me.
Sheet...me monthly feed bill...is that much.
Bump that!!!!
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