Posted on 10/09/2019 5:12:25 AM PDT by karpov
The diploma had value because the university did not admit unqualified individuals, and flunked out the people who couldn't make it through real course work.
But that was deemed racist and discriminatory.
This whole debate isn’t about the individual student loans. The left has hijacked the university system and has been milking it dry financially. What they have finally noticed is, by interpolation the yearly tuitions for private college will blow past the quarter of a million per year. This is unsustainable. Without the government taking it over, brick and mortar universities will be going belly up, leaving huge swaths of unemployed, useless college professors. Online degrees are the future simply for economic reasons.
I employed the “pay as you go methodology” and never went into debt.
College is a vacation, multi year, paid rent, boozing,
when finally a Democrat Congress will forgive all.
The debt benefits Govt college professors who teach trash without consequences.
Once they become 50.001% of the voting bloc, young people ARE going to vote themselves loan forgiveness.
I am as certain of that as I am that the sun will rise in the East tomorrow. Or that Hillary will never fit into a Size 7.
The root of the problem is that Congress made student loan debt nondischargeable in bankruptcy. After that happened, any kid can borrow any amount. Creditworthiness is not a factor.
Colleges increase tuition and fees, knowing that the suckers (students) can borrow whatever it takes.
We’re both right.
And the result is that it is no longer possible for someone to work their way through college. Tuition, books and fees are far too expensive, making loans a necessity if one wants to have a college education.
$1 trillion of $1.5 in subprime student loans is owed by women, right at the age they should be starting families. Instead, some of these women have to become part-time hookers. This keeps the Club Ed industry bubble inflated a little longer.
Our parents paid for undergraduate studies and we each paid off the loans for our grad studies. Back in the 1970-80’s the tuition wasn’t as insane, but we still had to live frugally to make it all work. Graduating into the Carter economy and double-digit inflation and interest rates was brutal. If I’d had a college loan when I graduated in 1978, I don’t know how I would have been able to pay it off. Grad school loans were easier to pay off thanks to higher-paying jobs and the Reagan economy. We did the same for our sons, and they are both grateful not to be saddled with big debts in their 20’s.
I learned plenty about economics, self-discipline, self-reliance, facing reality, solving problems, overcoming obstacles, responsibility, how the world works, and truth. Consequently, I was a millionaire at age 40, multimillionaire at 43.
I have no sympathy with those who go into debt and live well then feel victimized when they have to pay their debts.
America has raised a generation that feels "entitled" and "anointed." Don't expect much from them.
And note: President Trump's children, the children of a multibillionaire, all work hard, are disciplined, live happy, decent, sober lives, and are excellent role models. That's what Trump intends for all of America's children--in fact all the children of the world.
If all Americans would listen to Trump and follow his lead, many of America's problems would be solved, and the USA would soar into ascendency once again.
That's the precipice on which America stands today: To soar into ascendency or to free-fall into the hellhole of decadence. And some people can't decide which choice to make!
No thanks to obamy.
I paid out of pocket for mine and the kids’. What a fool I was.
In the 70s, with costs being only $3/hr., it was probably cheaper sending the kids to college than keeping them at home. No reason why costs are so high today.
Shouldn’t colleges educate students to have the skills necessary for a good paying job and not follow their “dreams”? Most people can graduate from community colleges without debt. Get students out of the universities which provide worthless diplomas and substantial debt.
I read once that California universities have 4 times as many administrators per student as a generation ago, think “Chief Diversity Officer” while salaries have skyrocketed. Econ 101 says this is a natural result when their customers, students, who were once of modest means are now rich with access to huge sums of taxpayer money.
Also I wonder if some former students have stopped paying their loans since all the Democrats are promising to write off all the debt if they get into the White House a year from January.
my kid is a recent college grad. Private college cost about 250k over 5 yrs. We paid most thru 529 account and savings. They also received grant money, which is free. But I had them take out student loan money each year as I ran out of money. Total student loans $27k. No job. So now that Grace period ended they got a deferment. I was shocked they offer it.
And my kids borrowed and paid them off within two years of graduating college.
I applaud all of those who pay their loans off.
I have a relative who went to state school undergraduate and graduate. Then private college for PhD in pharmacy. Taking license exams now. Has 200k in student loans. Has now discovered in the time he went to school now over supply of pharmacists. How will he even repay that amount of debt?????
You are dead on. It is the same strange phenomena that caused health care expenses to rise at several times the rate of inflation until we arrived at where we are at today. Anytime consumers are spending other people's money... they couldn't give a rat's butt how much the bill comes to.
After my wife had neck surgery I wanted to understand why the hospital bill came to so much. At first they wouldn't give me an itemized bill. When they finally did I found massive overcharges. The insurance company had no interest in correcting them. I spent over a year trying to get things like getting charged 4 times for the same item corrected. And getting charged for 12 hours in intensive care when she really spent only an hour there getting substandard care. The whole time everyone kept asking over and over, “Why do you care, your deductible will be the same either way?”
At the time the city I was working for was actually paying the bills, and the insurance company was just acting as an administrator of the funds. Their contract was based on a percentage. The more they paid out, the more they got to keep. They had no incentive to keep costs down.
The federal government has power over this PhD for the rest of their life.
Sad.
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