Posted on 05/29/2019 11:03:45 PM PDT by Kaslin
Need to add:
21. Targets and Tannerite
It is not possible to work and go to college and graduate debt free. The costs have risen many times faster then inflation. Making things worse wages have stagnated. You have to get loans or just not go. It’s not 1975 anymore.
If the government “gives” people “free” college, then the tuition will go up rapidly, forcing the taxpayers to pay more every year. More and more people will go to college and get degrees that are now worth very little. Those degrees will lose their value as everyone now can get one, “free.”
You will need one of those worthless college degrees to get a job at a car wash.
In the end, “free” college will have been a total disaster, as are all socialist schemes.
Hear me out. Any student costs above the national tuition cap has to be financed by the institution and that portion of the debt should be able to be discharged in bankruptcy under chap. 7 and 13.
A lot of these kids are spending hundreds a month in weed, too. Weed and video games.
my daughter graduated from med school last week. We were fortunate to be able to pay for her undergad with scholarship help at a private university. Med school was a different story. Her total tuition and fees waas 76K/year. while we helped, she still has 250K in student loans. She is moving ya k in with us during her residency to save money to pay them off. At least she will eventually have an income stream high enough to handle the debt u less we turn to socialized medicine
My daughter and her husband paid back $60K in student loans in three years. They did what they needed to do. They ate beans and rice for those three years.
My daughter is 33 and is now a millionaire.
They had a plan. Made a schedule. Made it happen at all costs. Reaped the benefits.
Oh, and she is a nice person too.
Yeah those numbers are insane. And they complain we don’t have enough doctors and have to import them!
not only does she have that much debt but she will be 29 or 30 until she is out of trainings and finally able to make some money - oh and try to have a life. her friends have all had jobs, families, bought homes etc while she has lost a decade of her life. then people complain that doctors make too much.
This advice has served me very well over the years.
Fixed it.
My Niece’s Ex Boyfriend was bitching and moaning about his Student Loan Debt, going on and on about how a College Education should be free.
I explained that he voluntarily signed Documentation to get the money. Unless it was a situation where “either your signature or your Brains will be on that Contract”, he was on the hook for it.
I also explained to him that his Rights end at the tip of my Nose and the fold of my Wallet.
The original assertion was “Jubilee for all”, not “Jubilee for student loans”.
and did he major in anything where there might actually be a return on investment?
When I was about 12 years old my Father told me “nobody owes you a living, so shut up and get back to work”.
That “advice” pretty much stuck with me my entire Life.
Old guy here. I paid most of my way through college, Dad paid the rest when I needed a little help. I avoided taking on debt and worked weekends as a musician for additional income to sustain a marginal standard of living while staying in school and taking a full load of courses during the week.
I attended the best college I could afford which offered STEM degrees which I figured in my case would result in a better career path and income than a BA after I graduated. I made adjustments along the way starting out majoring in Electrical Engineering and ending with BS degrees in Math and Physics which provided a nice professional career path.
Fortunately I was able to shift into the field of Computer Science as it developed. (No such thing being taught in college at the time). As a result, computer hardware and software development provided me a nice income and career.
Anyway I was fortunate things turned out the way they did. But I set realistic goals, avoided drugs and debt, and was willing the adjust my goals as new opportunities presented themselves. I wanted to give up at times, but hell no. I kept pursing my goals despite the odds and agony of defeat.
The only thing I got for free was advice, the rest I worked my ass off to make happen. Today’s generation needs to shake the mental bullshit barriers that prevent them from achieving the success of other generations.
You was 100 percent correct to tell him off, and your niece is better off to have dumped him, which I assume she did.
What happened to the good old days when you robbed a bank to get cool stuff you wanted? Things were so much simpler back then. A shout out to John Dillinger.
I would like serious consideration of this concept.
We live in a world of debt and it's not good. Student loans are part of it, but the problem is much bigger than that.
I believe that debt is (mostly) avoidable but that certain people benefit from debt and have built a culture which depends on massive debt for nearly everyone.
Broad elimination of debt would be good for many, many people. Yes, it would be awful for those who hold the debt. But are they the Good Guys? Are the bankers the Good Guys?
Fixing the problem -- and I think it has to be fixed -- will be painful. But that's not a reason to not fix it. We will, of course, need to find a way not to revert to the same problem just a few years down the road.
I'm not an economist. I'm sure this issue is much tougher than I think it is. But it doesn't take a genius to know that we aren't going to pay off the nation's $22T debt. We're not going to pay it off. All I'm saying is that we should admit it.
The only other "solution" is to raise everyone's taxes so that more money can be funneled to the bankers -- although the debt still won't be paid off. Ever. I say: forget the tax increases. Forget the debt. Start a new game and play by better rules next time.
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