I believe that encouraging 18-year olds to bury themselves in student loan debt for a degree that won't even get them a job should be a capital offense.
It's a wealth redistribution racket.
Posted on 08/28/2018 3:40:27 PM PDT by E. Pluribus Unum
No. Liberal Arts type degrees. But they have common sense and a very strong work ethic.
That would be my guess, too.
I believe that encouraging 18-year olds to bury themselves in student loan debt for a degree that won't even get them a job should be a capital offense.
It's a wealth redistribution racket.
Mrs rktman did. And worked the whole time she was in school. Got scholarships etc. Who say ya gotta finish in four years?
If congress wants to do something constructive maybe you could find out why college cost so much these days. These kids are entering the adult world with a huge weight tied to their ankles. Sorry for the drowning reference.
About $800 per semester plus books, room & board & $ for dates. Always bought books at used store. Had to do 2 years of ROTC.
“without consent of the judge”
As far as I know, all BKs require the consent of a judge, so your statement is meaningless. The point is student loans (and a few other debts) cannot be discharged in BK by a judge. All the debts you mentioned (except maybe taxes) are routinely discharged in Chapter 7 BKs.
College tuition has risen more than 1000% (10 times) in the past 35 years because the US feral government made college loans so easy to get. The colleges could charge anything they wanted and the dumb 18-year olds would just borrow it.
No matter what your political affiliation, no one can deny that anything government touches becomes astronomically expensive.
So did I!
The average student loan debt for Class of 2017 graduates was $39,400. Not an inconsequential sum, but if I were given the choice between having $39,400 of debt on a car loan, or $39,400 of debt on college loans, I'd go for college loans -- even if it was to finance studies in a stupid major.
$200,000? I dunno. There must be cheaper alternatives.
I would propose each and every student taking a loan be shown the economics behind taking a loan and shown what it will cost over the projected payoff. Sucks worse when said student takes classes a few semesters and drops out.
I guess she was financially under water.
Her name was Sallie. Sallie Mae. And Sallie gave money to everyone! And everyone wanted in on the action.
If done right, college is doable without debt. Nobody said it would be easy.
This is so sad. How much did she owe and what was her degree in? I didn’t see either in the article.
Oh, wasn’t she pretty? If this girl were half as nice as she is sweet looking, any company would have hired her in some junior position. RIP. Sad permanent solution for just a temporary problem.
It doesn’t seem like Congress is ready to FIX the Student Loan issue, and it is VERY EASY to fix:
1. Get the feds out of it, let the banks decide if the risk is worth taking (i.e., Ancient Egyptian Lesbian Studies may not make the cut)
2. Let the loans be dischargeable through Bankruptcy Court, and make the banks EAT IT, if they gave a loan for the above.
...but no movement, just debt, now approaching 2 TRILLION DOLLARS.
College tuition has gone up more than 10 times (1000%/) in the past 35 years (outstripping inflation by double-digits) solely because student loans are so easy to get because the lenders don’t have to worry about getting paid back.
Remove the guarantee, and they’ll be more careful about who they lend their money to, tuition won’t rise nearly as fast, and kids who shouldn’t be going to college in the first place won’t be going and burying themselves in debt.
Unless of course you’re glad that college tuition is so high that universities can hire plenty of tenured gender studies professors.
I live in a college town and a girl in a similar situation jumped off the I-70 bridge a few years ago.
If the only job you can get with your degree is Starbucks, you’re going to have a hard time paying it back no matter how much it is.
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