That is what my Father and Grandfather taught me. That is the real world.
hardheaded, that IS how the real world works. But WHERE in the real world do you find anybody who has engaged in more BLATANT price-gouging–other than perhaps Big Pharma on prescription prices–than the damned GREEDY colleges who, dazzled by all that free money (to them) available JACKED UP tuitions beyond ALL reason, and certainly FAR MORE than can be justified by inflation or any OTHER measure.
Before any MORE students are saddled with a HUGE debt for a degree that–unless it is for an actual PROFESSION like medicine, law, or engineering–most likely is NOT going to be of ANY help whatsoever, in helping that indebted student get a job that will actually pay enough to be able to even make the payments on that loan, we need to address the issue of PRICE-GOUGING by colleges and universities, and get tuitions back in line with reality. That is going to be necessary if students are going to even be ABLE to pay back those loans!
Instead of the TAXPAYERS taking the “hit” for these student loans, how about the greedy COLLEGES takie the hit for their SHAMELESS PRICE GOUGING, by being FORCED to reduce the loan amounts to one that is more in line with the REAL WORLD, and let the students pay back THAT amount?
While i agree, we DO need to tackle the whole gouguing issue, i don’t think IT needs to take precedent over resolving the whole debt issue..
BUT IMO THE BIGGEST reason we have this level of gouging, is that the GOVT GOT INTO giving out/covering student tuition, so once the unis saw “HEY WE EFFECTIVELY have a blank cheque”, they started jacking them the heck up..
Well when you have more applying for seats than you have seats then you can jack up the rates. And yes, once the gov’t started backing the loans and the schools had no skin in the game…. Kind of like loans for houses before the crash. Once the mortgage houses and banks knew they could sell them as AAA (ya right) mortgage backed securities and had no skin in the game they could care less if the people could pay them back.
So true. THAT IS IMO why all schools with endowment funds, should EAT The cost of these loans, before WE the tax victims, do.
That’s a good start. But here’s something the government can do:
Student Loan Approval Process:
STEM — Loan Approved
Business — Loan Approved
Law — Loan Approved
Medical — Loan Approved
Journalism — Loan DENIED
Gender Studies — Loan DENIED
All Other Liberal Arts Degrees — Loan DENIED
How’s about the govt GET OUT OF APPROVING LOANS period! Unless its a VA loan, they shouldn’t be BACKING A DAMN THING.
Ituser before Obama took control of the student loan program and made it a government program, the banks making those loans would NOT have approved a RIDICULOUS LOAN for a degree in underwater basket-weaving, when it was OBVIOUS the student would NEVER be able to repay it.
But once it became a GOVERNMENT program, hey, it was free money for EVERYBODY–no matter if you have the means to pay it back or ever will! Reminds me of what the libs did when they more or less FORCED banks to make mortgage loans to people who often didn’t even have jobs, or ANY means to repay the loan–and caused the mortgage/bank/real estate crash that destroyed the equity value most of us had in our homes for YEARS.
Just another of Obama’s MANY plans designed to BANKRUPT this country with another of his mad schemes!
Students don’t want to or are unable to pay back the loans because of a number of reasons:
1. Didn’t learn anything in school so they aren’t marketable
2. Graduated with a degree in African or women’s studies that aren’t marketable
3. Only went to school for the “college experience” and so only learned about beer pong
4. Never had a clue, even with a masters degree, what they were signing. Just thought people were nice in letting them have money to go to school and had no clue they had to pay back the money.
Please feel free to add your own reasons for why students aren’t paying back school loans.
Neither reason is an excuse to default on their loans, so WE the tax victim, have to pick up the tab..
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