Student Loans
Studme53
Pennsylvania
All 3 of my kids paid about half of their college tuition with student loans. I paid for the other half. I thought it was important for them to have skin in the game. They all graduated in 4 years. They then got jobs knowing they had loans to pay.
I told them all to be diligent about paying off their student loans. It’s the responsible thing to do - we pay our debts. Plus it would help your credit rating. The all paid them off in between 6 and 8 years.
I really kills me to see this pandering dolt President and his cronies now forgiving student loans - a lot of them incurred by spoiled, lazy people who fucked around in college, didn’t graduate, and then didn’t bother to get a job to pay their loan. It sends a terrible message and is another way this country is sliding down the toilet.
I told them all to be diligent about paying off their student loans. It’s the responsible thing to do - we pay our debts. Plus it would help your credit rating. The all paid them off in between 6 and 8 years.
I really kills me to see this pandering dolt President and his cronies now forgiving student loans - a lot of them incurred by spoiled, lazy people who fucked around in college, didn’t graduate, and then didn’t bother to get a job to pay their loan. It sends a terrible message and is another way this country is sliding down the toilet.
84 comments
Somehow, 6 year olds should be allowed to choose their gender, but 18 year olds who entered into binding contracts deserve a mulligan? Get the fuck out.
It's a wealth transfer to a rich Democratic constituency.
But today many are trapped in perpetual indebtedness, even exempt form the medieval custom of bankruptcy. This is just wrong.
SJG
I do feel some of these kids that were fucked over, nobody taught them anything coming out of high school making these stupid decisions about taking out the stupid loans. Canceling all debt cannot be answer though, I agree horrible message, terrible precedent.
I like those programs where students pay a percentage of what they make coming out of school. So both the school and student are somewhat invested in what happens after they graduate. Obviously a lot of kinks to work out. But this nonsense where they goverment sponsers and gives tax breaks to schools that keeping pumping out race and gender studies majors has to end. Those very people can't get a job anywhere but the government. So it's sort of turns into vicious cycle.
I disagree with Bill Maher on a lot of stuff, but I got to admit he made some good points here https://www.youtube.com/watch?v=_x5SeXNa…
Colleges in turn should provide applicants/students with data regarding income and employment levels for THEIR SPECIFIC grads by major, or risk losing their accreditation and qualification for students with federal or state loans. "Of our Poly Sci majors, 80% work in their field with an average income of $80,000. 57% were accepted into post-graduate programs." "Of our gender studies majors, 2% work in their field, with an average income of $20,000. 4% were accepted into post-graduate programs.: The student must initial to acknowledge and sign to register for that major. It's no different from any other informed consent requirement.
There is no benefit whatsoever in using taxes paid by the gainfully employed to pay off those loans. My wife was hopeful that hers would be forgiven. After graduating medical school, she was nearly a half-million in debt. Most physicians pay off their loans for their entire career. I had to point out that she didn't qualify because she earned too much. She did not qualify because she was successful. Because she is gainfully employed, paying taxes, contributing to society, and improving the lives of her patients -she has directly saved lives by her diagnoses and treatment, the democrat party has determined that this Hispanic immigrant, professional female, in a STEM field, will NOT have her student loans forgiven along with some dim-witted puerto rican bartender from NYC.
It doesn't make any sense.
Furthermore, the housing bubble has its roots in affordable housing legislation passed by Jimmy Carter. The legislation was revived and given new traction by Bill Clinton also when the democrats held both houses of congress. Those awful subprime mortgages and layered securities were the only way the banks could make the loans to unqualified borrowers as they were required to by this awful legislation. So really, the democrat party owns it all going back to the 70s!
They need to learn when they are young, that when you undertake a promise to repay over time (a loan), you keep making payments until you have satisfied your obligation.
Sadly, forgiveness sets the wrong precedent. As adults, those folks who have received forgiveness, may struggle to understand the dangers of easy access to credit cards, and they may amass excessive debt. Then, they may seek forgiveness through the use of bankruptcy. That is not a good thing, and it can hurt them for years to come.
Sadly, this forgiveness sends the wrong message.
It's about the good of the nation and responsible stewardship of our heritage and values. It is a wrong, stupid idea designed to benefit idiots who made poor choices. It will be implemented at the expense of the people who made smart decisions and already pay over 50% of the taxes which fund the government. This is an immoral action specifically designed to buy the votes of people who already make blatantly stupid choices, and will be to the detriment of our nation.
Imagine all of the money going towards student debt being freed up and being spent. That would be a major stimulus for the economy.
But I will say - gammanu and skibum for the win.
Yeah, I’m a whiny boomer, but I paid my own way. No student loans, very little help from my parents. Graduated with zero debt. How did I do it? I worked my ass off in high school to get any scholarship money I could. Went to a state school not an expensive private college. (Some state schools are ranked pretty high) but more importantly I worked my ass off in
115 degree factory jobs in the summer where I earned good money. I wasn’t touring Europe or working an unpaid internship. Fuck the millennials and the Gen XYZ who didn’t do the same
Worse, dependence on government is incompatible with liberty.
Canceling student loan debt would be like Hillary's plan, but retroactive.
I read in a Chris Gillebeau book that if you do a stint with AmeriCorp they will pay off most or all of your student loan debt. I think that would be very good for some people.
Never should have gone to this student loan system. It cripples many.
SJG
Gimme Shelter [Rolling Stones Cover] - Britny Lobas at The Roost Austin, Tx
https://www.youtube.com/watch?v=B71GZQYH…
Your fault that you lit that money on fire with a grievance studies degree.
There is no "right" to 4 years of partying and slacking off.
I lived in a dorm during the semester. Not an expensive apartment or frat house.
During the summers I lived at home with my parents so yes, in that sense they did provide free room and food for 3 months.
Thank you for letting me clarify. You are right they helped in the summer
As I know, the people who have big incomes and who are accumulating money are paying back.
It is only those who are not getting this that are going into default. So this will be like what Hillary Clinton promoised after Bernie Sanders dropped out in 2016, Debt Free College.
And fact is we have a substantial default rate on all sorts of loans. These lenders are precatory.
College is one of the best things our society can put money into as we want people to go to college because it makes better citizens.
SJG
The President of a local chamber of commerce told a City Council about how he had to live in his car when he was an SJSU student.
SJG
It feels fucking awesome to go to work in a business that I own and I built, because I am just so smart and I do work so hard. But GammaNu first is not GammaNu alone. I do work to stay ahead, but I also work to bring others with me. I don't have to provide free training, I choose to. I don't have to offer premium health plans and benefits with small employee OOP, I choose to. But I do not cater to the lowest common denominator, my partners and employees must contribute to their fullest and meet their obligations. I expect to see consistent professional and personal growth.
So, yeah, it feels fucking awesome to be a successful, white, Anglo-Saxon, Protestant, cisgendered, heterosexual, beef-eating, truck-driving, dog-owning, gun-toting, college educated, guilt-free, conservative, Republican entrepreneur. If you spent less time whining and more time educating yourself and working harder, you may enjoy the same awesome feeling. That's America.
I'm not going to pretend that hard work doesn't pay off because it does. It sure as fuck does and I will do it to get to where I want to go. However the fact that you have to pay $1000000 for a crackerjack 1500 square foot house just to get in the door of owning a home how to start from the bottom of $15 an hour in a Society where cost of rent is on average $1,800 a month and you have no family no friends no government to help your ass, you can't be mad when people complain about Boomers having it easy when College back then was cheap enough to pay doing minimum wage verses today we're that's virtually impossible even for state or city college. I think a lot of you old timers just refuse to keep up with cost of living and cost of goods and services in today's society especially for those starting out from the bottom. And are quick to judge from your high horse while the millennials and gen z are forced to clean up the messes you made.
Thank goodness the internet is accessible for most people at least
Whose fault is it that you make minimum wage?
There are government programs and NGOs available to help if you would stop whining and do some fucking research.
I went to a private college on scholarships and student loans, but I kept a strict budget after graduation and paid them off in less than 10 years. THEN, I started partying and buying new toys for myself.
I'm (late) Gen X, not a boomer. There is plenty of blame across all generations for how fouled up things are today, pointing the finger at someone whose demographic is different is just stupid and lazy. However, folks like Estafador and AOC who have no solutions but to expect the government to give them everything they ask for because they feel some absurd entitlement is just that - absurd.
You want a blueprint for success? Okay, print this out:
1) Quit bitching and take responsibility for yourself. Repeat this mantra every morning and at bedtime: "Nobody owes me anything. Nobody owes me anything. Nobody owes me anything".
2) Figure out where your skills and desires lay, end choose a profession that allows you to use both AND has the income potential to pay off your student loans and purchase the lifestyle you desire.
3) Get a library card and start studying relentlessly in preparation for classes.
4) Reduce all discretionary expenses possible to offset educational expenses.
5) Find a job(s) which can accommodate your class schedule
6) Get the pre-req's out of the way at a community college
7) Find part-time jobs in your field during the last two years of the four-year degree, in a college located where the strongest growth for your career choice is
8) repeat in grad school if applicable; but DON'T go to grad school if not necessary for your career or offers demonstrable income increase
9) After graduating and accepting a starting level employment offer keep your living expenses at 50% of your take home, dedicate 30%-40% your income to a mixture of saving and paying down debts, 10% of your income for discretionary spending (strip-clubbing)
Common sense, right? Thank me, I'm welcome.
No right includes government giving anyone anything. Rights don't come from government; the best government can do is not infringe on rights.
Skibum, of course these loans are the problem, we never should have gone to these. College should be free.
Gammanu, of course people can educate themselves and I am a big supporter of this. But many still need and greatly benefit from college.
Studme53, as I know, the people who are not paying off there loans are those who have not had much income. Those who have good incomes are paying. So in 2016 Bernie Sanders promised Free College. But as he dropped out Hillary Clinton promised Debt Free College. Forgiving the loans amounts to the same thing, just retroactively. We want to facilitate and encourage college.
Why Canceling Student Debt Can Save America & Get Out The Vote
https://www.youtube.com/watch?v=AP-nOD2N…
SJG
The Pretty Reckless - Take Me Down (Official Music Video)
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The School of Rock plays Gimme Shelter with Special guest star Orianthi
https://www.youtube.com/watch?v=QwlRGS0x…
サンノゼクリープ
San'nozekurīpu
lulz
Most accredited schools are exam and minimum grade based.
SJG
The School of Rock plays Gimme Shelter with Special guest star Orianthi
https://www.youtube.com/watch?v=QwlRGS0x…
It was never the government's money in the first place, you progressive mental midget.
It spends it!
The idea is called Keynesianism.
Its what keeps our economy going and creates paying employment and profitable business opportunities.
Otherwise the money just ends up parked in the real estate and securities bubbles.
So when you agree to work for someone or agree to provide professional service to someone you know that the rates you agree to are gross, and that when you receive the funds these will trigger a tax obligation and that what you are left with will only be the net.
We are a Constitutional Democracy, and we have bodies that set the tax rates and our highest courts have approved this.
SJG
The School of Rock plays Gimme Shelter with Special guest star Orianthi
https://www.youtube.com/watch?v=QwlRGS0x…
Keynesian spending has given us what percent inflation again?
What was reckless was the Weimar money printing of Pelosi and Trump, because all that money did was prop up the real estate sector. That is where the money is today.
What we needed to do was to make the real estate and securities sectors eat it by going to Universal Basic Income and a Strong Public Housing Offering, triggered on account of the COVID economic collapse.
And we would still have private property and not be a communist system.
By promoting a hysterical response to COVID, instead of a rational response, the National Leadership of the Democratic Party and governors Andrew Cuomo and Gavin Newsom, were keeping the 2020 political debate from going into Medicare for All, UBI, and Public Housing. They were forcing Biden to be nominated instead of Bernie Sanders.
SJG
The School of Rock plays Gimme Shelter with Special guest star Orianthi
https://www.youtube.com/watch?v=QwlRGS0x…
SJG
The School of Rock plays Gimme Shelter with Special guest star Orianthi
https://www.youtube.com/watch?v=QwlRGS0x…
And also, the GI Bill was the direct result of the Bonus Army, WWI veterans who marched on Washington and demanded their promised "pay equalization". The GI Bill was to make sure vets were taken care of properly right off.
PBS Documentary: The March of the Bonus Army
https://www.youtube.com/watch?v=mSC1lbfX…
SJG
The School of Rock plays Gimme Shelter with Special guest star Orianthi
https://www.youtube.com/watch?v=QwlRGS0x…
https://www.youtube.com/watch?v=iUQ-wIxQ…
Google is available to anyone using a computer, don't be like Iceefag and just create non-facts by pulling them out of your ass.
Dependence on government is incompatible with liberty.
how, the government has been what has been keeping our economy going since the great depression. And continuing to run the busy work squirrel cage costs our society far more than it would for:
1. UBI
2. Strong Public Housing
3. Medicare for All
4. Free College and College Debt Forgiveness
"We're all Keynesians now."
Richard Nixon
SJG
Go and do your own research
SJG
SJG
Libertarians think the non-sense they spew sounds cool. They are just Republicans who want to smoke weed and get laid.
SJG
I will log on and submit reviews!
SJG
That’s pretty narcissistic of you , SJG! Where am I suppose to submit my reviews without any Wi-Fi connection? I guess your privacy firewall won’t even share the new public library hours. I can’t do it during the day, because I’ll be recovering from fucking Dejavu girls Toda la noche!!
SJG
SJG
Opinion of a homeless guy who depends on the public library for internet.
You're a complete broken record, and not a particularly insightful one.
lulz
But we're still homies right dougie!
Today, those with college loan debts are veterans of the Supply Side Idiocy War.
SJG
^ they still wish they could be cowboys
How Schools Hold Back America's Brightest Students
Vol 1
Colangelo, Assoline, Gross
pg 43
"
The headlines get uglier every year. The cost of college tuition regularly outpaces the annual rate of inflation; it often gallops ahead at two, three, or four times the rate of wages.
In 2003-2004, according to The College Board, a year of college at a private institution averaged $19,710, representing a 6% increase. At public institutions, the average annual tab was $4,694 representing a 14.1% increase. That's a lot more than the standard 3-4% growth in wages.
"
Less and less students from lower-income families, and many from middle income level end up burdened with hefty loans, and parents are often forced to take out second mortgages to meet the cost of tuition.
SJG
The Rolling Stones - Gimme Shelter - 2013 School of Rock AllStars Team 4
https://www.youtube.com/watch?v=we-3Y3vh…
Pleaser 10", strapped on, 4 colors
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That's what happens if you subsidize it as much as we have and completely take away the price signal.
So the effect is that only the rich can go to college, and this should not be.
SJG
The Rolling Stones - Gimme Shelter - 2013 School of Rock AllStars Team 4
https://www.youtube.com/watch?v=we-3Y3vh…
Pleaser 10", strapped on, 4 colors
https://pleasershoes.com/collections/ple…