Posted on 03/31/2015 6:35:55 AM PDT by E. Pluribus Unum
(Excerpt) Read more at abc13.com ...
My wife’s niece decided she wasn’t going to pay back her student loans. Guess who squealed like a pig when her tax refund was seized?
The most efficient way for the puppetmasters to take away our freedoms is debt, and not just college loans. How many people do you know who did equally stupid borrowing for houses or accumulated credit card debt or annual vacations (etc)? Most of them get to walk away from their debts....I don't agree with that either.
A girl from my old neighborhood married a guy who defaulted on his loans from a big, elite university in New England.
He worked for cash under the table, and in all ways tried to remain officially invisible to creditors or anyone else. Being married to someone under those circumstances is not easy.
“I’m tired of these idiots who sign for loans and then pretend they didn’t.”
I don’t know. I didn’t have college loans in my day, and my kids didn’t either. I’m not sure the kids sign for them... And if they did, wouldn’t most of them be too young to sign a binding contract? I thought you had to be 21 years old.
Part of the solution (going forward) might be right there. No federal loan guarantees for for-profit school tuition.
Bill Clinton opens wallet .................
Personally I am just as happy to have community colleges spending their money on the classroom and not on advertising.
A former colleague of mine had a degree from a Big Ten school, and a certificate from our community college. He said that community had better instructors and he learned more.
Exactly. The amount of the loans is insane and almost no one makes that kind of money. Something needs to be done. However, you did take out the loan. There are many with much more than $100k, promises of great jobs and they don’t get them. It’s a little quick to say that an 18 year old has the wherewithal to know exactly what they are doing.
Then "we" shouldn't give out loans to everyone who asks for them. If I go to my bank and ask to borrow a million dollars to take a lavish vacation to Monte Carlo, they'll laugh in my face. I have no ability to pay back a million dollar loan and nothing for them to recover when I default.
Loaning someone $100k to attend a worthless college is irresponsible lending. They have degrees that aren't worth the paper they're printed on, they're working entry-level jobs. How are we, the taxpayers, supposed to recoup our losses? You can't draw blood from a rock.
These loans should've never been made in the first place.
“Something needs to be done.”
I think the best way to fund colleges, would be for the student to agree to pay the college, say, 10% of their gross earnings for some period after graduation.
I would LOVE to see a four year indoctrination (no different than everything else in gummint schools) in the two party system
I learned, as a salesman, you NEVER give a prospect more thas TWO to choose from ... it is human nature to bog down with three or more (ladies shopping, f'finstance ... don't get me started)
We are traditionally bi-cameral and it has worked well since our inception, but kids entering life at approximately 18 years old not only have little to go IN TO, but no idea what their political leanings are
I believe a high school graduate should have a working knowledge of politics (you may not be interested in politics but politics is interested in you), and that when they register to vote, they can articulate an opinion based on the political leanings of a party.
I am glad to hear that her tax refund was seized.
It angers me that people think that the working taxpayers should be stuck with student loan debt, just because the borrowers made bad education choices or “don’t feel like” repaying the loans.
Is she trying to become a White House intern? I don’t see it. She does not resemble Monica Lewinski. You should be ashamed of yourself for trying such a lame joke. First, it isn’t anywhere near funny, and second, it isn’t anywhere near true.
Monica was a victim of a philanderer. She was somebody’s daughter, who got sexually harassed by the President of the United States. He was the adult, he was the one who shouldn’t have been trying to seduce such a young girl. It wasn’t her fault that he was married to Hillary! We expect her to know better, but hey, he said he loved her. That’s how lots of affairs are started.
The lady in the picture, she is fairly pretty. Thanks for posting it, by the way. I like my women a little on the trashy side. I don’t see how comparing her to Monica Lewinski is any kind of an insult to this lady. She made financial errors. She is trying to figure out a way to rectify them.
I tell kids all the time that the “scholarships” offered by Heald and ITT Tech are not scholarships but discount coupons. They barely understand it at 18, getting ready to graduate from high school, and they get a letter if acceptance from Heald. They think Heald is a college. Promises of 50K to start make loans of 100K look small to someone who has never worked or had to pay bills. It’s all abstract at that point.
I’ve done classes with both community colleges and full-up colleges. I’ll typically say that the instructors of community colleges are guys who’ve owned business operations (successful or failures) and have practical/updated knowledge. While the full-up college instructors are bright...they are mostly talking of experience and background from twenty years ago. If you were there to learn about business...stick with community colleges. If you wanted history as the emphasis....maybe the four-year deal was better.
It will never happen, but that's a really interesting idea.
Now:
Student: I want to major in Swedish 17th Century Folk Art.
College Advisor: Sounds good. Sign here.
Under your plan:
Student: I want to major in Swedish 17th Century Folk Art.
College Advisor: Ah...no. That wouldn't be productive. Try again.
Slavery isn’t voluntary like a school loan
Because the debt can not be excused by bankruptcy, and because the Federal Government guarantees the loan, there is no incentive for the loaning authority to do due diligence.
In other words, the bank did not care if the schools were legitimate or if the “graduates” would receive anything of value for their money.
For a contract to be valid, both parties must receive something of value back. Many of these contracts were signed under false promises of what students could expect upon graduation.
At minimum, these loans should qualify to be discharged under normal bankruptcy laws. That would force the loaning institutions to provide a little bit of an incentive to investigate the track record of these schools.
Personally I believe the best way to lower the cost of education is to forbid all types of student loans.
Student loans are the 21st Century of indenture servant
I have to admit I danced a little jig when my wife told me the story... :-)
They are via permanent disability, which has not so mysteriously skyrocketed. At least some people are purposely arranging their very early retirement via SSI, at great expense to the dwindling number of people that still have jobs.
Bingo!
Way to many have this “well they are 18 and an adult” mentality. Yeah, technically they are adults ... but not really.
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