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The cost of money is not free.
The hypocrisy of clowns who do not understand basic business tenants is hilarious.
Ah, so Department of Ed should be profiting more than $40 billion from student loans?
The hypocrisy of conservatives makes me chuckle.
Government has no business nationalizing the student loan industry. If your daughter didn't want the government charging her interest, then she shouldn't have signed up for it's money at an agreed upon rate.
This is a stupid argument. The question is not whether this person should have taken the loan, the question is whether or not the interests rates are too high. If you can't talk about the question then shut up.
I would argue that the rate is not too high if the borrower agrees to pay it.
Go elsewhere for money.
And no, it's not a democracy, it's a democratic republic. We elect people to do what we, in general, want.
The don't buy clothes? Or the means to make clothes? Or food? You cannot avoid sales taxes unless you live in a tent in the woods.
Unless you're a rare talent like Lebron James or Bill Gates you are going to most likely need a college education to get anywhere in the 21st century. I don't like it, but that's reality.
democracy: a system of government by the whole population or all the eligible members of a state, typically through elected representatives.
Democracy is the broader term. You can say democratic republic to get more specific, but saying we're not a democracy is plain wrong.
Then live in a tent in the woods. Makes as much sense in this century as it is to expect success with no college education.
Having not looked into it I have no idea whether that's a real number or something someone pulled out of their backside.
Completely irrelevant to the discussion at hand.
That is correct. A college education has become almost an prerequisite for obtaining employment that pays a living wage in this country. It is ridiculous to think otherwise.
Ever heard of an analogy?
Then live in a tent in the woods. Makes as much sense in this century as it is to expect success with no college education.
Society should expect and demand that people are going to take care of themselves first and foremost. If and when bad times hit, like they do to a lot of people, that's when the safety nets should kick in, but not as a means to provide a lifestyle.Sometimes I think people are just nuts. After years and years and years of young people being told that a college education is of primary importance to their future, a whopping one third of Americans between 25-29 years old now have a bachelor's degree.
Record numbers earning college degree - CBS News
That means that two thirds of those in that age group, which should have the highest college graduation of any group, DON'T have a degree.
What should these people do ? Kill themselves ? Or should the society plan for the CERTAINTY that everyone is not going to have such a degree. Wouldn't that make more sense ?
Absolutely. They aren't forgiven with bankruptcy, can be taken out of federal tax returns and if deliquint the government can remove professional licenses. If anyone making an income pays back their loans the gov is going to profit from the 6%+ interest rates. If I take out the 20 year repayment plan they'll make almost double what I took out.
Not to mention after 75k income (I believe) your interest on the loans are no longer tax deductible. I believe they view them as a form of revenue for the government, not necessarily a public service to students.
Society should expect and demand that people are going to take care of themselves first and foremost. If and when bad times hit, like they do to a lot of people, that's when the safety nets should kick in, but not as a means to provide a lifestyle.
That is correct. A college education has become almost an prerequisite for obtaining employment that pays a living wage in this country. It is ridiculous to think otherwise.
Unless you're a rare talent like Lebron James or Bill Gates you are going to most likely need a college education to get anywhere in the 21st century. I don't like it, but that's reality.
What is moronic is ignoring that the average student indebtedness is over $28000 for students today. Students who recently graduated like my daughter face the task of repaying student loan debt. Of course people who are either too old or wealthy think that this topic is irrelevant. But to the many students facing this task, it is essentially a tax that is eroding the middle class.
The interest rates are too high. Again my daughter's student loan interest rate IS MORE THAT DOUBLE the interest rate on her car loan.
:shrug: I would disagree - you don't have to go to debt to get through college. Med School or Law School, maybe, but undergrad? Nope. There are a bunch of ways to increase your money inflow while also decreasing your outgo around college. Do community college for two years, for one example, prior to taking those classes to an in-state public university and graduate under their name, but at a significantly reduced cost.
The Bible says nothing positive about taking on debt, and quite a bit against it. If I can recommend a guy who spends a lot of time teaching biblical principles as they relate to money.
Well, in order to do so, I joined the military. Which, on top of my education, set me up for a career. I was willing to sacrifice to get what I wanted.
I'm sorry your daughter feels stuck and overwhelmed. It's the first major hurdle for my generation and the ones slightly after us, and it does suck (like starting life with a third of a mortgage, but no house). But she isn't anywhere that she didn't put herself.
Yeah, the tow truck can't repo the credits she earned. They're lending her money for a good they can't put a lien on, and you're telling me the interest rate is high? Duh
The don't buy clothes? Or the means to make clothes? Or food? You cannot avoid sales taxes unless you live in a tent in the woods.
If I'm a lender, I don't care what the borrower's story is. I only care about one thing: Will he pay the money back? Now, if the lender is the federal government and it wishes to engineer social policy, I can think of other, more efficient ways to do this. Personally, I think we're turning out too many psych and marketing majors and not enough engineers and yet the Department of Education treats each graduate the same regarding his or her ability to repay the debt. Meanwhile, private investors are more than happy to offer better terms to lower-risk prospects.
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