Unprecedented USA Student Loan Debt

Discussion in 'Education' started by longknife, Oct 8, 2014.

  1. longknife

    longknife New Member

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    American college students have run up a mere 1.2 trillion dollars in loan debts!

    So what? Just a mere drop in the bucket in liberals' efforts to create a state of dependency upon government. And, they want Obama to bail those poor students out. Why should they assume responsibility for themselves now? :roll:

    The 18 sobering facts about this subject are @ http://endoftheamericandream.com/ar...student-loan-debt-crisis-in-the-united-states
     
    waltky and (deleted member) like this.
  2. waltky

    waltky Well-Known Member

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    Granny says, "Dat's right - dat's one way to get a free education...
    :grandma:
    A Third of All Federal Student Loans Could Go Bad, Treasury Advisory Committee Warns
    November 19, 2014 – Four years after the federal government took over the student loan program, nine percent of student loans are in default and another 23 percent have the potential to go bad as well, according to a report by the Treasury Borrowing Advisory Committee (TBAC).
     
  3. mak2

    mak2 Well-Known Member

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    Edumacation overrated huh? I have no idea why education is so expensive. I do know both of the schools have invested millions in sports and buildings lately and professors have not gotten much of a raise for years.

    Wasnt someone telling me on another thead nearly everyone making minimum wage minors in highschool? How could college grads with a professional degree be making less?
     
  4. Texan

    Texan Well-Known Member

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    I see 2 problems with the student loan system.

    1. The government is giving out money with no care about whether or not the person will ever be able to pay it back. They'll loan someone $100,000 to get a degree in basket weaving or cultural studies of some type when even a graduate in that field is likely to end up poor. They are even loaning money to older students who will go to the grave with debt that the taxpayers will have to carry. Many of these loans are at a 10% rate and there are balloon payments if they don't pay it off quickly enough.

    2. People are not thinking about the responsibility to pay their debts. Have a plan before you borrow more money than your parent's owed on their house.

    My case in point right here. This lady seems to have a nice house and well groomed dog. She has been a doctor for 30 years, yet she is whining because she neglected to pay her debts when she was younger and now she will never be debt free.

    http://www.wfaa.com/story/money/per...t-burdens-growing-number-of-seniors/19298113/
     

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