Student Loan Bailout

Discussion in 'Politics' started by camram, Nov 23, 2011.

  1. Barry's smoke and mirrors
     

  2. i said this in the ows thread and i will say it again. the people who attended college got a degree and cant find a job to pay off the debt, meet atleast one of the following criteria: 1) their school is a nonsense school. not in the top 300 universities in the world. 2) they have a GPA below 3.8 3) they have a degree in an irreleveant area like art history or womens studies. 5 examples of relevant areas to study are medicine, law, finance, education, and engineering.
    If you went to Umichigan, got a 3.8 or higher, and studied biology, you would have no prob getting into med school, and make a six figure salary in your first year of work. however if you went to a community college then transferred to a 4 year that is not in the top 300 schools and graduated with a 3.4 in theater, then dont expect to pay the debt off anytime soon.


    i agree

    What kinda job are you talking about? are we talking about becoming a mechanic? or something prestigious like a doctor or a lawyer? if you dont meet the criteria i showed above no one will butt fuck you.
     
  3. Glad I never got student loans. On the other hand, if they are considering this, I just might get as many student loans as I possibly can. I mean, if you all have to pay for it, why the hell not? It works for big business and it's not like there's anything anyone could do about it then.......

    Take a card from big business and get rich.
     

  4. yeah, i didnt think of that actually. i never took out a loan. but if i can borrow money , and not have to pay it back , then fuck it! im borowing enough for a new car, and house :devious:
     

  5. Maybe if government didn't take so many peoples money in the first place, and send cause so much inflation, then so many people wouldn't be in so much debt.
     

  6. actually they haven't been all paid back.

    Bailout Scorecard | Eye on the Bailout | ProPublica

    i agree, people should be held accountable for their debt, student loans included but on the other hand our government is selling our children's future for the sake of saving corporations. if they are going to sell our future why not use it for our people instead.
     
  7. Because you don't fix a problem by repeating it. The all inclusive attitude is merely looking for freebies, when we don't have any. All the money is borrowed and even worse printed, making all of us poorer in the long run.
     

  8. many people have this shortsightedness problem. they think: all we need to do is just bail everyone out, or give everyone a job, and presto problem solved. they fail to realize the problems created by this unsustainability in the long term. they also dont see the markets capabilities to straighten it out on its own. rather they want to give the govt. more power to govern over them, yet at the same time ask for handouts. as ron paul said ten years, " the people will depend on the govt. causing them to be more poor and less free"
     
  9. It will never happen. We need money to go to war, duh. :rolleyes:

    But, do people really think it's a "mistake" to go to college?

    Don't really see how it can be one's "mistake" to want higher education.

    Even though the debt accumulates at a rapid rate....

    High school diploma < college degree

    10/10 times.
     

  10. people who hold this claim are often times ignoring hard statistics. but instead look at people that graduated from devry and are unemployed and then rant and rave about how college is a waste of time and money.
     

  11. eh more like 9.5 / 10... you got that 0.1% of people like steve jobs etc...
     

  12. i hope ur not rejecting the vast majority, in an effort to point out a small number of exceptions.
     

  13. To become, for example, a doctor?

    Many successful careers right out of college/grad school pay dirt initially (interns, fellows, residents, post-docs, etc) when the loans need to be paid off. In the long run, though, these careers can be highly rewarding (financially- and lifestyle-wise). :cool:

    My wife for example is in residency as a veterinarian. Right now, she works 60-80hrs/wk earning $27k...and ~40% of her salary goes to pay her med school loans. In about 5 years, however, when she becomes a clinician, she'll easily be earning 6 figures in her specialty, working the standard 9-5. Worth it? I'd think so. :smoke:
     
  14. I am completely against student loan bailouts. I worked 20-25 hour weeks while attending high school from when I was 15 until 19 so that I would be able to attend college debt free. I live with my parents part time so I don't have to waste money on rent while I go to school. It really annoys me when I see my fellow classmates taking out loans through my school that not only cover their tuition, but also cover their rent, car payment, groceries, and a new flat screen TV and then keep their fingers crossed that the government will absorb their debt.

    The heart of this issue needs to be addressed, which is that educational expenses are outrageous. When my parents went to college, they were able to pay out of pocket just by working evenings at a restaurant. I hear lots of people their age reminiscing about only having a few hundred dollars in college debt. What happened to affordable education? If we just bailout student loans, the real problem is never going to get solved.
     
  15. excellent point..

    but i don't think that it's a bunch of doctors out there complaining about the Student loans that they can't afford.. :p
     
  16. 2011 College Grads Moving Home In Record Numbers, Saddled With Historic Levels Of Student Loan Debt




    Study: 85% of College Grads Move Home to Live with Parents | NewsFeed | TIME.com

    How could anyone have possibly foreseen this, who knew giving loans to anyone and everyone would lead to this? :rolleyes:
     
  17. First, the student loan program has gone through changes since the economy collapsed in 2008, so those of you thinking about just racking up student loans should think again. They cap how much you can take out by what year you are in school and only give you up to the cost of attendance. Furthermore, private student loans almost always require a co-signer with almost perfect credit.

    Now let's try and distinguish the difference between going into debt and being taken advantage of. The pre-2008 student loan world was a lot different than today. Banks handed out tons of money to students who were 18, just out of high school and had no credit history.

    Anyone hear of My Rich Uncle? They would give out $5k cash in student loans with just a signature but of course they went bankrupt and sold their debt to other banks.

    Back then it was like sign your name on this dotted line so you can go to school and not be a screw up. I cannot emphasize how this is a generational thing because my parents went to school in a time when you could write student loans off in bankruptcy.

    Also, how is a student loan bailout different from handing out federal grants to anyone attending a community college, DeVry, etc? These $10k grants must come from somewhere, right?

    Last, there was someone saying how where you go to school makes you employable. I went to a top 10 school with tuition around $50k per year. This is exactly the thinking that got some people into debt, too. People were willing to risk debt by getting a prestigious education but I have plenty of peers who don't have jobs.

    I'm not sold on this idea. I know plenty of people who feel if you owe a debt you pay it no matter what, so I can see those sides of the coin.
     
  18. This is an example of how the Dept of Education thought the student loan program would work. We need to realize everyone going to college is not going to be a DVM, MD, DO, JD or MBA.

    This is why I really like Ron Paul's stance on abolishing the Dept of Education.
     
  19. True.

    But we cannot look at people like Steve Jobs, and everyone who has never went to college.

    You could even throw most NBA players in that mix. It's just 'luck', I guess.

    And hard work. But more luck.
     

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