Placing the Blame as Students Are Buried in Debt
- Thread starter Clubber Lang
- Start date
LOL! Yeah, there are only so many core classes you can take before you have to actually take real classes and then switch majors every couple of years.
Now that poor guy probably has a million bucks worth of student loans to pay. At least he is well educated.
I recently read on a gift plaque that " How could I ever miss you if you never went away..."
I wish somebody gave her a gift that reads "How could I ever learn how to be financially responsible, If I never went to college and racked up so much debt..."
But seriously, is there anyone on here who is interested to marry her and take care of her debt?
I wish somebody gave her a gift that reads "How could I ever learn how to be financially responsible, If I never went to college and racked up so much debt..."
But seriously, is there anyone on here who is interested to marry her and take care of her debt?
What we are seeing in this thread is kaleidascopic views on the birth-school-debt-work-debt-death-debt cycle... many posters are themselves caught up in one of the seven degrees of non-freedom involved and therefore cannot fully comprehend what their own future holds and have not reached full cognizance of the past whether immediate or long term...
My advice is to default now!! "Default early, default often" is maxpi's way!! WIN = Work is Nonprofit!! The government can inflate their way out of debt but individuals don't have that option, so defaulting is the logical thing to do!! How can you work from debtor to lender if you have debt?? It is senseless to not default!! Then read ET every day and master trading and become a lender! When the collectors call up just say "I'm a lender now, don't bother me"....
My advice is to default now!! "Default early, default often" is maxpi's way!! WIN = Work is Nonprofit!! The government can inflate their way out of debt but individuals don't have that option, so defaulting is the logical thing to do!! How can you work from debtor to lender if you have debt?? It is senseless to not default!! Then read ET every day and master trading and become a lender! When the collectors call up just say "I'm a lender now, don't bother me"....
As everyone knows, many students take on too much debt and than struggle to repay-- especially true in a recession. But the Original Post concerns an absurd and highly unusual case, and that is why it made the news. Ignore it. It's an absurd outlier.
One other major point. Up until changes by the Obama administration, banks were protected by the taxpayer from losses on student loans -- they had no incentive to question the borrowers ability to repay, probably were not even permitted to. The situation now may not be better, but it is unlikely to be any worse. The taxpayer will still pick up the bill on defaults, however there is at least a chance that defaults will be fewer since loans will cost less with the banks cut eliminated.
There is value to society in education so perhaps, on balance, it is not such a bad investment for the taxpayer. I look at these nut cases as just part of the overhead cost of what is otherwise a worthwhile program. There will always be a few lunatics.
One other major point. Up until changes by the Obama administration, banks were protected by the taxpayer from losses on student loans -- they had no incentive to question the borrowers ability to repay, probably were not even permitted to. The situation now may not be better, but it is unlikely to be any worse. The taxpayer will still pick up the bill on defaults, however there is at least a chance that defaults will be fewer since loans will cost less with the banks cut eliminated.
There is value to society in education so perhaps, on balance, it is not such a bad investment for the taxpayer. I look at these nut cases as just part of the overhead cost of what is otherwise a worthwhile program. There will always be a few lunatics.