Student Debt Discussion! Oooooh a can of worms I have opened!

So, given the principle that some of us (More like "Most" of us) are in debt too student loans, pretty greatly. Now, Some people may have not fully done their research on their job growth and the demand for their area of majors. Do any of you ever ponder whether student loans would be written off? (By some grasp of the string, a bill is passed to have them written off). Or, should the remaining amount of your student loans be written off after a certain amount of payments? Would the interest ever get so low again; to where you can make a payment and actually see your debt decrease? Due too not so high interest rates. Just some thoughts and opinions folks!

 

I agree with Elizabeth Warrens idea, we should cap the interest rate for student loans at the same rate banks get, which is something like .75%.

 

I graduated in the mid late nineties with a good deal of debt that took around 8 yrs to pay off but big deal? I was hired right out of college so I made a budget stuck to it and paid it off. Big deal. Kids are being hired now. Where I work I see plenty of fresh faces. If you can't find a job sorry but it's you. Do you have a degree in something useful living in an area where that skill is needed. If not, it's YOU. Are you going on lots on interviews with no call backs. It's YOU!!!!

 

Another reason why Warren should really stick to law...

Or whatever she is good at...

 

There are so many students taking out tens of thousands, if not hundred of thousands, of student loans for WORTHLESS degrees that I actually tend to blame the colleges and universities. By WORTHLESS I mean degrees that based upon job opportunities and salaries will take YEARS to ever pay back.

http://www.university.com/most_useless_degrees/

 

http://www.bostonglobe.com/news/nat...udent-loans/kusXEDxBrxHu36BYyo0bXJ/story.html
. . .

The large amount of outstanding student loan debt is a drag on economic growth for it directly affects the young entering the job market saddled with difficult, and often unmanageable, obligations. It likewise acts as a disincentive to shouldering the additional burdens of marriage, buying a home, and starting a family at the very time when such considerations are the most desirable, and yet rendered impracticable. The promise that a college degree would translate into greater earnings has not been kept in a marketplace where job opportunities have not kept pace with college tuition, and where employers do not value higher education and skilled labor obtained the more cheaply by outsourcing. Even the traditionally high-paying professions are affected. There are just no jobs; and the costs for starting up a private practice are prohibitive. Doctors, lawyers and dentists are going bankrupt with no more prospects than flipping burgers. It is not a good situation, and one that should be addressed on more than one economic level.

 

What are you good at?

I doubt there is much besides propaganda and rhetoric

 

Investing. Banking. Finance. Economics. Typically, topics Warren shouldn't be discussing at all. Not if she hopes to be taken seriously, anyway.

I don't deal in propaganda, or rhetoric. I leave those for the political hacks.

 

Funny how republicans always try to pretend they are so smart with economics, but science and history? Not interested

 

I fail to see what that has to do with me, or anything I have stated.

 

You quite literally just pretended to be an expert in economics when I asked what you are good at. Ask any republican what their specialty is, I bet most will say exactly what you said "Economics" lol, its never Science or History.

 

I never pretended to be an expert. I only said I was good at economics, among other things. Brush up on that comprehension of yours...

That's your opinion. That has nothing to do with me, or anything I have said at all.

 

We need to stop this "everyone goes to college" mentality. Now if we set quotas for certain college majors that might work... what won't work is overly complicated interest rate tweaks for people who want to study fields that have no market demand. That's called bribing people for votes.

 

Do a google search, the only study ever done on this that I know of found that Tea Partiers have a better understanding of the physical sciences than the average person does. You've outed yourself as someone who lives in a bubble imagining that every Republican is a creationist.

 

Since we're going to the hidden stash of cash to pay all that debt, why just student loans? Since you appear to be struggling, what value do we get from relieving you of your debt?

I believe that we should allow a $50,000 credit to everyone, not just those with student loans.

Go run up your credit card, buy that new car, pay down your mortgage; whatever.

In for penny, in for a pound they say.

 

Great comeback ! Original ! Intelligent! And witty. Wow , as long as you continue to be a failure you'll succeed in your life. I bet your parents are proud - keep up the great work.

 

The issue to me is a High School Diploma is largely worthless, it used to be good. You left High School and were either ready for college or a career or to do agricultural work if a farm kid. When my father did graduate he was a trained bookkeeper and office worker and walked into a job before doing the Selective Service and went career and since he studied Russian in school he was in demand. My mother was trained to do retail work including the psychology of sales and managing people and cashiering back then a real SKILL it was all manual and was highly employable.

So that sucks now. Now Trade Schools again cost money leaving the poor in debt or community colleges with career education paths and those may or may not help but someone with an diploma in Automotive Technology or something tend to be very employable with good pay in time and those jobs can't be outsourced. But it still may not help.

That leaves four year degrees where everyone seems to need to go unless your good in a skilled trade etc.

 

They don't even pay back anymore, considering the lack of job, at least here in europe. Many students do jobs different than what their degree prepares for. The disproportion between graduated and avaiable job is becoming huge.

This is why they have failed and people choose democrats instead. Anyway they may be good at economics, but only for what concern their economics. They pretend people will just be ok with wathever they do in the name of ( their ) money.

 

Not all of them, but the majority of them are yes. If they understood physical science they wouldnt believe the earth is only 5,000 years old.

 

A loan, no matter the reason for a loan, is a contract. People who enter contracts are obligated by law to abide by the contractual terms. If a person holds debt, then that debt must be paid off within the terms of the agreement. Why do students believe they are above common contract laws? A major ingredient in a contract is that neither party was under duress...this means for those students today who are whining about their debt commitments, that no one was holding a gun to your head when you decided to accept the debt. Stop with the whiny BS and pay off your debts...

 

Back in my days, obtaining our college degrees was not solely about securing a great job. For those who wished to study the arts, etc. it might have been because this was the area of their interest...like modern dance. Studying archeology for example was a long shot for creating a good career but students did so anyway. Lots of these graduates probably became teachers in order to pay the bills. Also back then most households were managed on a single income. I worked part time and paid my way through college which took 5 years instead of 4 years. Back then many students with high school degrees did just fine in the workplace...but this is not true today. If everyone sought out an MBA we would end up with a failed system. If students don't or cannot learn based on their personal interests, how much wonderful talent do we lose while they are off being a stock trader? For me, the root question about 'education' is do we provide it in order to obtain certain jobs or to educate the masses in order to have a smarter and more diverse society?

So...I think elementary and primary schools have far too much redundancy which IMO means we should be able to achieve a quality 'public' education in 8-9 years instead of 12 years. If this was done, I would like to see public education include college studies starting in year 10. College studies can be for seeking certain jobs or just for personal interest. In lieu of academics, public education also would include teaching the trades. But, whatever it is, it is 100% funded by taxpayers and not by the students...they learn for free and have no debt when finished. Of course anyone can choose to bypass public education and apply for student loans to attend for-profit schools...

 

Damn, never said i was having problems. lol

 

We have no choice to take loans out. Pell grants are no more than 5k, go too a university and it costs 5k a semester, what about books, thats about 2k. I am an IT major, my field is always in demand. Outsourced or not.

 

Liberals expect someone else to pay for them. Why should young students--mostly liberals--be any different?

 

Given the fact that a country cannot be ran on uneducated people? Given the fact if you go too a university you have no choice to take out loans? Given the fact that higher education is for a more proficient cause? Why do conservatives expect the country to be ran on air and water? Oh wait....they do not even believe in natural resources aside from their ozone killing coal.