Some older Americans say millennials’ student debt is their own fault

The military already has a student loan payoff program. Anyone who bitches should enlist and poof, problem solved!

 

And how did the banks force these kids to apply for these loans?

Not gonna happen.

You do not get bailed out for your own lack of judgement

 

Me too, We opened a 529 for my kids the day they were born. My older one is still 4 years from college. The plan is to have 3-4 years of state school or 1-2 years of private school saved up by the time he goes (if he does). He'll have the choice of no student loan debt in public school, or he'll have to chip in some for private school. It's always good to have some skin in the game.

As to the issue of ever climbing tuition: It is driven by the free market. Universities give students what they want: The college experience. That includes hotel-like dorms, gym-like exercise facilities, manicured lawns and landscaping, all kinds of hand-holding student services. All of this costs money. The students could pick the bare-bone college that gives you a small, shared room with bathroom on the hallway, with all the money actually going into academics. Yet, when the campus tours go through, guess which college the students/parents pick, the former or the latter?

It's the same issue with property tax. Parents seek out areas with the highest property tax they can afford, because they have the better schools and give their kids a head start. Then, when they live there, the whine about the high taxes. Tough luck, it was your choice.

 

BS on that.

Government guaranteed student loans at FULL rate?

Are you kidding?

What a scam.

These loans are not only government guaranteed...but exempt from bankruptcy law. Tell me that isn't a scam. NOT 1% loans...full rate 6% and higher loans

 

The taxpayer has nothing to do with it nor owes these students anything for THEIR decisions.

Going back to the OP, $228,000 for a business marketing degree......REALLY. I'd love to see an audit of what he borrowed and on what it was spent and how many years he attended. Heck you should be able to get a marketing or business degree in two years and go out and earn the "six figures".

 

That would be the colleges that do that and the government enabling it.

 

For a marketing degree to go into fashion. How much did he think he was going to receive? I just got an email from one of our Senators (Doug Jones D) about town hall meetings at black colleges last month and the topic was paying off their college debt. And Sanders was at a Latino gathering yesterday pledging he will forgive Puerto Rico's ENTIR DEBT. That's the D's what ever group tibwhich they are pandering HEY I'LL PAY YOU OFF FOR YOUR VOTE.

 

It's the liberal government way!

 

I hated high school and knew I wasn't going to college. Luckily I picked a trade that the company paid me and the tuition for my training. I made $72K last year. If you have kids about to graduate, look into the trades like power generation and welding. These companies are hurting for good help. Yes you will have to start at the bottom (don't we all?) but it's worth it.

 

Here's something we agree on. Student debt is as much a scam as credit cards. It is not however something they weren't forced at gunpoint to do and they went ahead with it anyway. The problem is not just the banks but the colleges and universities as well. Where does Harvard or any of the Ivies get off charging what they do when they are supposed to be non profit. It comes down to selling a product and the product is prestige. Prestige is the hook if you will or advertisement of the product for which the seller reaps a demonstrable profit. That is how Harvard and others pay people like Elizabeth Warren $400,000 a year to teach one course, that and the rest of the scheme is sanctioned crime. I believe relief is the onus of the banks and the educational institutions not the taxpayer, why should we subsidize businesses? There is virtually no difference between the banks and the Ivies et al. We need to take a look at all non profits. I'm in favor of ending the non profit status or at least instituting heavy oversight.

 

How about the parents that second mortgaged their homes to help put their kids through college, how about the kids that busted their ass all through college working to help pay for school then paid off their student loans.

Millenials is the laziest generation to date, theyve embraced socialism because professors brainwashed them they can just sit on their ass and get it all for free, while everyone else works to keep them happy.

Let them get out of school go to work and pay their bill just like everyone else before them

 

BINGO!!!!!!!!!!!! right on the money

 

According to you, the "problem" is not the outrageous cost of an education OR the student who asks for a loan to pay that outrageous cost; instead it is your contention that the real "problem" is the bank that provides the loan that was requested. How dare they want their money back?

To me, leftist logic is utterly absurd.

 

And bet most of those classes in the 4 years were taught by grad students with professors very rarely showing up. Poor value for a dollar. And if the student thinks they want the marketing aspect but don't have the personality and the gift of gab, they most likely wasted all their money.

But it don't matter, they got to pay it back.

 

Your rightist deliberate misstating of my point is both false and unethical.

The bank provides a product to the student; however, this product has a poision pill in it for students: economic slavery.

That is what I oppose.

When you quote me again, do it right.

 

If you don't think you can make the payments, don't intend to make the payments, don't want to make the payments, think your parents might possibly jump in and make the payments for their grown immature offspring (fat chance), or believe that charging interest and banking are immoral, just don't sign for the loan.

Because you are signing a contract and obligating body, mind, and soul to pay it off.

"That's the sound of the men working on the chain ga-a-ang
That's the sound of the men working on the chain gang

All day long they're singin', mm
My, my, my, my, my, my, my, my, my work is so hard
Give me water, I'm thirsty

My, my work is so hard
Oh my, my, my, my, my, my work is so hard." Sam Cooke

 

What you said was...."The problem is that student debt has been designed deliberately by the banking industry to economically enslave students for decades."

Nothing in my reply misstated "what you said". For good measure, I will repost what I said, so that the reader can see for themsleves that I did NOT misstate your position......



According to you, the "problem" is not the outrageous cost of an education OR the student who asks for a loan to pay that outrageous cost; instead it is your contention that the real "problem" is the bank that provides the loan that was requested. How dare they want their money back?

To me, leftist logic is utterly absurd.



Lets analyze what I said.....

-You didnt blame the schools for the outrageous price of tuition
-You didnt blame the student for asking for the loan
-You blamed the bank for providing that loan

Yes, paying off a loan can take decades to pay if one only pays the minimums. No, living up to one's commitments does not constitute "being enslaved". Therein lies the leftist logic to which I referred. To me, it is utterly absurd. The student asked for the loan, and the bank granted that request. They have every right to expect their money back with interest. Welcome to the real world. If one doesnt like the terms of the loan, then by all means do not take out that loan. For some odd reason, the leftist mindset blames everyone OTHER than the individual.

To me, that logic is utterly bizarre and bereft of critical thinking.

 

jay runner, banks should be restricted from offering predatory terms.

 

Faw, you continue to misstate. That is your problem, and you will be exposed every time you do it. Get used to it. That will not change.

Banks should be prevented by legislation from offering predatory student loans.

 

This is just too easy to out the right wing defense of economic slavery.

 

Kid to Psychiatrist:
P: You resent the older gen.?
K: All my life, they told me if I didn't want to end up a burger flipper, I needed a college education.
P: And
K: Now, the only available jobs are flipping burgers and the older gen. tells me I'm "entitled" for wanting something more after college.
P: Touche.

 

Tell me what was misstated? You are blaming the banks, and I said as much.

Your are ignoring the root of the problem which is the exorbitant cost, and the individual that asks for a loan to pay that exorbitant cost, and I said as much. Nothing that I have said is misstating your position even slightly.

I find your leftist logic to be utterly bizarre. Nobody is forcing people to ask for loans. At some point, the individual needs to take responsibility for their own actions.


P.S. Will be exposed everytime I do it?...LOL...lets be clear, I am holding a winning hand. Every time you revisit this topic...I WIN AGAIN!!

 

For full-grown, educated HS graduate men and women 18-years-old? These ain't illiterate field hands and sharecroppers.

Besides banks are highly regulated now and can't do anything that the US Congress don't let them do.

 

Call your US congressperson.

 

What if we pass a tax surcharge on any incomes on college level teachers and make it retroactive about 10 years, say 30%? Surely Warren and her husband with their $12M net worth can "afford it". Then use that to pay off student debt. Think Warren and the Democrats would go for that to make it "fair"..............