Posted on 02/12/2020 1:40:04 PM PST by karpov
And why should I support HER so that she can better herself? I’d like to see her in jail. How about taking their voting rights if they are not paying and have not made a plan? How about the IRS taking that money? grr
Not really. You'll make survival wages at beat.
How old are you? Go to your alma matter’s web site and look at the cost for a semester NOW. College has increased at multiples of the inflation rate.
The government school educrats encouraged their skulls full of mush to bury themselves in student loan debt so the money would go to the educrats in “higher education.”
Liquidate the endowments of all the institutions of “higher education” that exploited the skulls full of mush and pay off the student loans that way.
My husband earns over $100,000 a year as a machinist....NOT in management. Works with his tools every day
There are real degrees and there are silly ones. I didn’t go through the whole article, but it would be interesting to see which one Ms Nurse obtained.
I have strong suspicions.
One of the historic accomplishments of Western Civilization is understanding that debtors’ prisons don’t work.
Not only will you never get a dime from someone in prison, you then have to pay to maintain them there... expensively.
Good addition to the list. Clawbacks from self-enriching academic bureaucrats should also be on the table.
“..Some of us repaid our loans. And we were darned happy to have revived them, too, considering we had no incomes then....”
Exactly. I’m one of those. Came from a large family with only a one parent household income. I was the oldest of 6 kids. No money for college. I worked construction during the summers and took student loans in order to get a Mechanical Engineering degree. Lived on $5/week for the 4 years at school. When I finally graduated, I had over $15,000 in loans to repay but managed to snag a pretty good entry-level engineering position with a large construction company. $15K was a huge sum back in 1973. Within 5 years, I had em all paid off and was more than thankful for the loans.
And, ban them from Federal licenses, office, loans, etc., until the load is paid off.
Here's what I see with the adults coming to my financial small group. (My wife and I budgeted years ago to save up for our kids' college, so my knowledge of student loans comes from the small group.)
Often when people say "interest" they're also talking about the late fees too. And a "gotcha" is that on the years you're in school the minimum payment is really low. Then when you finish school (or I've heard some say when you're supposed to finish school but have another year left) you get a notice that your minimum payment shot up, but you have to be looking for it to catch it or you don't pay enough.
Then there's a bunch of students who pick worthless degrees that aren't good at getting decent paying jobs. Plus a lot of students who quit w/o getting a degree, but they already have loans. And when they quit they all of a sudden have higher minimum payments.
And if I'm not mistaken, an "improvement" Obama made when he made new student loans come directly from the gubment instead of the gubment backing loans from banks, is he jacked the interest rate up to 4.5% (from 3%).
Another thing I hear from some adults with student loans is that they operated under the mindset that they'd get a gubment job that would automatically pay off the loans as a benefit. Thus, why pay down your debt if it's going to go away magically anyway? Then when they didn't get the gubment job after many years they have all this debt that's been building up a lot of interest (and fees). To hear them say it, the promise of it magically going away made them financially lazy instead of being grown up about it and paying it off.
I'm a RRT, CPFT, NPS...
Went to a JC..in SoCal...
I made too much money to get a grant...
My whole problem is with people like my nieces..that got degrees at Berkley....in Modern Art..and Dance. They Waite tables now......
Their parents are smart...but didn't counsel these two...
I've no idea what they owe...but it's ALL their fault.
Before I became a HC professional...I made damn sure what kinda money I could make!
Blame the kids that are taking on these loans...
Blame the GOV. college's....Blame the parents for not advising their kids.......
Sandy Nurse doesn’t see why she needs to be $120,000 in debt “just for trying to improve my understanding of the world.”
But she STILL has to pay back her loan.
Now, what should REALLY happen?
1) Let borrowers get debt relief in Bankruptcy Court once again; make banks and schools partially liable; get the government out of the student loan business and back to merely guaranteeing loans.
2) The DoJ should indict EVERY SINGLE UNIVERSITY’s officers and directors for engaging in a massive conspiracy that began in the early 1970s to defraud tens of millions of students and the US taxpayer. Clap them in jail for the rest of their lives, and seize their assets to satisfy damages. Then tuition will drop like a rock, and there will be much lower loan balances going forward.
People fail to recognize that the current problem of needing a debt jubilee is a result of the government mandate (black robed legislatures) of credentialing.
The current “higher education” system is simply a credentialing system from the supreme court case of Griggs VS Duke Power in 1971. Without the ability of a private business to offer a general aptitude test to winnow candidates something has to represent the first line of job screening. In this case the “near” mandatory Bachelors degree requirement fills the bill everywhere. All a job-screener has to do is put that minimum requirement and then automated job systems will never let you apply.
It stings personally as I got to 100+ semester hours towards a degree in electrical engineering and computer science and then ran out of money ( In short: Parents divorced when I was 12, Public housing level poverty, claimed by my father on his taxes and no longer eligible for Pell grant). It took years to pay off the loans with nothing to show for it.
The overall problem is that the successful boomers are trapped in a dilemma. They have fostered a gross credentialing system on their grandchildren which requires a degree or certification for nearly all decently paying jobs. Internships are for the wealthy as those that will help build a resume are surprisingly often “unpaid”. If millennial’s in mass are allowed to default all those beautiful retirement accounts are going to crash.
The appropriate fix to the system would be to allow Aptitude/IQ tests but that will be deemed “racist”. The very “compassion” that we are supposed to have has created a system of “equality” where someone is going to have to take substantial losses eventually. I support the effort to wipe out the debt. I also support the effort to abolish the national level department of education and its abusive spending.
Someone is going to eventually have to deal with the consequences.
Not really - while their peers went to waste four years getting a BA in Poli Sci or women’s studies, my cousin’s two sons became welders and each now makes over 100k/year. Both are in their late 20’s, and one just bought a farm.
IMHO the 2008 Federal bailout of the banks was a game-changer.
The vast majority of people in this country, regardless of their political philosophy or affiliation, opposed bailing out the banks with taxpayer money.
They did it anyway.
It now becomes an impossible task to win arguments over why anyone else should not get a bailout. Virtually everyone is deemed more worthy in the public eye.
My daughter’s best friend enrolled in a rather expensive, elite college.
She quickly learned that she was in over her head. Dropped out after one semester and went to a trade school. She became a welder and is doing VERY well for herself.
And as a black female welder she is ALWAYS in demand.
She recently got married. Her husband works for the FBI.
I really wish he’d get a more reputable job too.
Underwater lesbian basket weaving.
Wait! What! There’s no market for that?
But,but,but I have a degreeeeeee
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