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Federal Student Lending Swells (so are delinquencies)
Wallstreetjournal ^

Posted on 11/28/2012 10:36:38 AM PST by chessplayer

The federal lending program designed to make college education available to everyone is creating a pile of debt so large it is fanning worries that it has become too easy to borrow too much.

(Excerpt) Read more at online.wsj.com ...


TOPICS: News/Current Events
KEYWORDS:
Pretty good scam. Borrow the money and when it's time to pay it back tell them to shove it.
1 posted on 11/28/2012 10:36:41 AM PST by chessplayer
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To: chessplayer

Unless a new chapter of the bankrutpcy laws is written allowing for at least a partial declaration (or “cramdown” at least) of student loans, this is going to be a bigger disaster than the 2008 mortgage mess.


2 posted on 11/28/2012 10:40:07 AM PST by teflon9 (Political campaigns should follow Johnny Mercer's advice--Accentuate the positive.)
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To: chessplayer
This just in..

Federal student loan program announces "bonus points."

Students can earn bonus points for voting Democrat.. ten votes substitute for one monthly payment.

/sarc -- for now but soon?

3 posted on 11/28/2012 11:07:38 AM PST by WilliamofCarmichael (If modern America's Man on Horseback is out there, Get on the damn horse already!)
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To: teflon9
Unless a new chapter of the bankrutpcy laws is written allowing for at least a partial declaration (or “cramdown” at least) of student loans, this is going to be a bigger disaster than the 2008 mortgage mess.

You just foreshadowed a key 2016 Democratic Presidential position.

4 posted on 11/28/2012 11:08:56 AM PST by 11th Commandment (http://www.thirty-thousand.org/)
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To: chessplayer

The college scum know the Kenyan never expects them to pay these “college” loans back. That’s why they voted to reelect him. In Barry’s Amerika! Everything is free unless you work for a leaving. This country is finished. Great job Barry! You beat Rush Limbaugh. You didn’t fail. You managed to destroy the greatest country ever known in just four years.


5 posted on 11/28/2012 11:10:16 AM PST by FlingWingFlyer (Don't tax me bro! Tax that guy over there!)
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To: chessplayer

Each semseter I am assigned an early experience student from our local university. These students are to observe my classroom and assist me with duties, in an effort to expose them to what teaching is really like. I am baffled by the number of students that attend this private university who are financing their entire education. I’ve told them that IF they get a full time teaching position their first year out of college, they will be making less that year than what they owe on a year’s worth of tuition plus interest. When I suggest to a student that they get a job, the student looks at me as if I’m the one who is crazy. What happened to people working their way through college?


6 posted on 11/28/2012 11:11:15 AM PST by goodwithagun (My gun has killed fewer people than Ted Kennedy's car.)
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To: goodwithagun
"I’ve told them that IF they get a full time teaching position their first year out of college, they will be making less that year..."

$40,000 per year, plus benefits, for a public school teacher for a first grade class of about 13 children in a tourist/resort area on the Rockies. Cost of living in the area: much lower than costs of living in dangerous, urban neighborhoods. That's a real job opening (well, fat income, position: sitting) for one high-priced babysitter.

And no, I'm not going to specify the location. [Don't need any more socialist, political/regulator class folks from suburbs of the coasts/cities around here.]


7 posted on 11/28/2012 12:22:34 PM PST by familyop (We Baby Boomers are croaking in an avalanche of rotten politics smelled around the planet.)
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To: goodwithagun

Get with the program...Everything is free. You have no obligation or responsibility. Go write some poetry, puff on a doobie or two and and hang out with friends. Happy days are here again.


8 posted on 11/28/2012 12:24:00 PM PST by hal ogen (First Amendment or Reeducation Camp?)
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