It looks like you're using an Ad Blocker.

Please white-list or disable AboveTopSecret.com in your ad-blocking tool.

Thank you.

 

Some features of ATS will be disabled while you continue to use an ad-blocker.

 

Help ATS via PayPal:
learn more

Student loan bubble gonna go POP?

page: 1
16
<<   2  3  4 >>

log in

join
share:

posted on Nov, 30 2016 @ 10:29 AM
link   





U.S. poised to forgive $108 billion in student debt

The federal government is on track to forgive at least $108 billion in student debt in coming years, according to a report that for the first time projects the full cost of plans that tie borrowers’ payments to their earnings.

The report, to be released on Wednesday by the Government Accountability Office, shows the Obama administration’s main strategy for helping student-loan borrowers is proving far more costly than previously thought. The report also presents a scathing review of the Education Department’s accounting methods, which have understated the costs of its various debt-relief plans by tens of billions of dollars.



No! Really?

The article continues:




Enrollment in the plans has more than tripled in the past three years to 5.3 million borrowers as of June, or 24% of all former students who borrowed directly from the government and are now required to be making payments. They collectively owe $355 billion.

The GAO estimates that $137 billion of that figure won’t be repaid. Most of it—$108 billion—will be forgiven because of borrowers fulfilling their obligations under income-driven repayment plans. The $108 billion only covers loans made through the current school year, however. The overall sum could continue to grow alongside enrollment increase.



Fiasco in the making.




edit on 30-11-2016 by loam because: (no reason given)



+1 more 
posted on Nov, 30 2016 @ 10:35 AM
link   
When people can't find a decent job they are told to go to college, so they go to college and still can't find a job.

Still lazy tho.

Still worthless losers.

How clear does it have to get that this system doesn't work before we change it?

edit on 30-11-2016 by Darkmadness because: At do



posted on Nov, 30 2016 @ 10:35 AM
link   

originally posted by: loam


That photo made me cringe.

Looking at each individual person.... I can imaging them filling out forms, signing their names and making an agreement to pay back what they borrow on a predetermined schedule with a predetermined amount of interest.

Now..... WE WANT IT FOR FREE!!! Wawawawawa.

Sickening.



posted on Nov, 30 2016 @ 10:37 AM
link   
And people wonder why the 21-35 age group feels so "blah" about anything.


As a Clinton voter, it should be a wake up call to the failed policies of the left and right. Not just the right. There is no good answer to this except for driving costs down. To me, you cant just "make college free". I think even us lefties can see that free college just dilutes the pot( though with pizza gate Im starting to wonder if Ive been wrong about a lot of people for a long time). In my opinion, its hard enough to leverage your college degree into a good upper middle class job. Even though Im lucky enough to have one, I know many friends with much higher degrees of accomplishment still fighting to get a raise on their hourly. But then add about 12 million more applicants with degrees? Good f-ing luck.

The bubble popping will perhaps spark change. It is in many ways tied into our awful healthcare system. Why are we surprised that it costs 500$ for a textbook when it costs $1,000 to change your hospital sheets?
edit on 30-11-2016 by bknapple32 because: (no reason given)


+1 more 
posted on Nov, 30 2016 @ 10:37 AM
link   
a reply to: eluryh22

Why don't you go into debt for tens of thousands of dollars only to find jobs making 32k a year.

Then pay obamacare, then pay rising rent cost, then pay rising food cost, then pay your student loan.

Clueless.



posted on Nov, 30 2016 @ 10:39 AM
link   
a reply to: bknapple32

Good friend of mine has been very successful in software engineering.

Bout to lose his house.

Keeps going on interviews across the country with 100's of applicants per job.

They keep hiring kids out of college because they ask for less money and he's only asking for 60-70k for jobs hearts are worth 120



posted on Nov, 30 2016 @ 10:39 AM
link   
Yeah, the government is all too happy to let kids borrow money to go to school and then the young adults are indebted to the system. It is a form of control. There is no easier way to make someone into servitude than have them borrow money. This is even explained in a very old book, the bible. Many of the jobs that left our country didn't need a college degree. When you became eighteen you could move to an industrialized city and get a decent job that payed a living wage and had benefits. For some reason stupidity decided that a consumer based society the size of this country could make it even though it has never worked in history. It caused the fall of great empires and ours is next on the chopping block. It leads to a feeling of entitlement when someone pushes a pencil, or now a computer key, and does not have to do physical labor.



posted on Nov, 30 2016 @ 10:43 AM
link   

originally posted by: Darkmadness
a reply to: eluryh22

Why don't you go into debt for tens of thousands of dollars only to find jobs making 32k a year.

Then pay obamacare, then pay rising rent cost, then pay rising food cost, then pay your student loan.

Clueless.


geez...didn't you get the message?....Obamacare gone, it'll be trump care, or should I say, trumpcouldcareless coverage



posted on Nov, 30 2016 @ 10:44 AM
link   
a reply to: rickymouse

There never was a recovery from 2008 unless your in finance.

I'm going to create a thread later about the crime rate in my area.

The DA got their budget cut again this year and they are already back logged thousands of cases.

She even made a statement asking for more mote evaluate she has 2500 cases about to reach minimums.



posted on Nov, 30 2016 @ 10:44 AM
link   

originally posted by: Darkmadness
a reply to: bknapple32

Good friend of mine has been very successful in software engineering.

Bout to lose his house.

Keeps going on interviews across the country with 100's of applicants per job.

They keep hiring kids out of college because they ask for less money and he's only asking for 60-70k for jobs hearts are worth 120


So to compound the debt. Youre put on the shelf for a 22 year old with a degree who is so scared about his first student loan payment, that he'll take a job that should pay 80k instead for 40k. Meanwhile the 34 year old who is still in the midst of those payments just lost his job to a kid with a glorified piece of paper.... And thats how default happens.



posted on Nov, 30 2016 @ 10:45 AM
link   
Well, there will be their "free" education.

But wait, who will end up paying for it? "looks in purse"

Oh yeah, me. Yet again.



posted on Nov, 30 2016 @ 10:47 AM
link   
a reply to: bknapple32

Yup.

Exactly.

To make it worse our age group came of age right smack in the middle of 2008.

We keep getting shafted.

Change is coming people I promise you that.



posted on Nov, 30 2016 @ 10:48 AM
link   
a reply to: loam

Well one of the basics of democracy is equality. Education should be free and available for everybody. This is one of the battlegrounds capitalism vs. freedom/democracy.
Therefore they are absolutely right to demand not to be enslaved before their lifes even have started.



posted on Nov, 30 2016 @ 10:48 AM
link   
a reply to: rickymouse

This is exactly right. It is the entire point of our debt-based economic system, control of huge swaths of people by a teeny-tiny echelon at the top.

I'm not railing against the 1% but the Cabal puppet masters that really pull the strings.

Debt does not work. I am praying to hear that the global debt jubilee happens and we get the reset that so much of the alternate media is talking about.

To expand on another point you made, people used to be proud to go into the trades and do honest work. I am in a professional industry but have worked blue-collar jobs and always got way more satisfaction putting in a day of hard work than I have at a desk.

Sadly, we've conditioned the majority of young people to think that those honest jobs are "beneath" them and they don't pursue them.



posted on Nov, 30 2016 @ 10:49 AM
link   

originally posted by: chiefsmom
Well, there will be their "free" education.

But wait, who will end up paying for it? "looks in purse"

Oh yeah, me. Yet again.


I'm paying too at my factory job for every bodies #.

I don't feel like in making 50k a year right now it's insane.

That's why I get bothered by idiots screaming go to college.

News flash you can't go to college as an adult without a full time job anymore because of rising cost of living.



posted on Nov, 30 2016 @ 10:50 AM
link   
a reply to: bknapple32

Dilutes the pot?

How would a completely free University education dilute the pot? That sounds like a decidedly right wing, econofascist thing to say. Care to clarify EXACTLY what you meant by that?

Because it seems to me, that the only way you could have said anything that even gets MISHEARD like that, is if you genuinely thought only those who can pay for information deserve to receive it, despite the FACT that those who work hardest for, and with what they have in the entire breadth of capitalist economies on the earth, are the poorest.



posted on Nov, 30 2016 @ 10:51 AM
link   
a reply to: Tman2135

Your spreading lies by pretending that there's millions of trade jobs out there.

The unions are barely surviving right now. If your union you either drive over a five state region for jobs or you don't work.

Lucky if you have a single job for three moths during the winter.

Disconnected.



posted on Nov, 30 2016 @ 10:53 AM
link   
Look on the bright side, your new President-Elect Donald Trump has consistently used "Bankruptcy", a legal mechanism for debt forgiveness, as a financial tool to manage his finances. He says such debt forgiveness is a right everybody should use to build their wealth. In fact, the scriptures say all debt should be forgiven every 7 years. That allows people to get a fresh start. Debt held for more than 7 years hold back progress, since it keeps talent under the water, and unable to rise up and contribute to the greater good.



posted on Nov, 30 2016 @ 10:55 AM
link   
For profit colleges have largely gutted this country. Used to be just the best and brightest that went off to higher learning. Not that there aren't jobs that you don't get a degree for that still require smarts. Culture is largely to blame labeling anyone non college educated a loser.

Toss in all the absolutely useless and mind warping majors like women's studies etc, and it's no wonder alot of these snowflakes can't get jobs. Their 'degrees' are worse than useless, the only 'jobs' they can get are by further expanding an already bloated government that can't keep a nickel in its pocket.



posted on Nov, 30 2016 @ 10:58 AM
link   
We all need to wake up and understand our government doesn't care about us, or they just don't listen.

We need to become the American Party, screw the BS and say what we want to say while not paying for a damn thing. Even for a week, you can even call out sick for 3 days without issues at most places. Don't work, don't buy, don't do anything for even 3 days and watch how scared people get.

WE ARE THE PEOPLE that MAKES the CHANGES happen that WE WANT

We the AMERICAN people. not Trump, every president is a puppet, has been and will be, look at the hair, stress does that and not the average stress of a high intense job, stress you have no control over does that.

-------

I've been watching these bubbles form and pop for the last 4 decades, it's getting old, you'd think we could manage our money better unless it's part of the system, to reset their debt but not ours...

It's a sick system and just as addicts aren't able to help themselves without outside interventions, our government is at that point as well it seems. Unable to give it's people the fair shake they deserve as well as what will help the whole system in the 1st place ironically.

Blows my mind how functional a system is only to see how dysfunctional is becomes because someone or more aren't doing their share of the workload. Laziness should be a punishable crime in regards to work and I mean criminal.
edit on 30-11-2016 by Tranceopticalinclined because: (no reason given)


--------

No longer is it true for someone to work a job and be able to live life without help. When that happens even on the smallest level, we've failed both in the workforce and education centers.

Not to mention you can pay 50k USD for either a Computer Science Degree or a Liberal Arts Degree... I'm sorry but that should be criminal, you'll never make enough money in the arts degree to pay back that 50k and live. So why is it the same price as the computer science degree that coupled with experience can get an average of 40k to 60k STARTING SALARY!

Money is the issue, nothing else, We use money as this means of motivation when in fact, it might motivate us, but not properly. It doesn't promote innovation as much as it promotes quick wins and step by step improvements, because if huge gaps of innovation happen, they loose money from all that potential step by step improvements. Since improvements equal ability to charge more for the product or service.

A great change is needed and we the people are the only ones who can make that change.
edit on 30-11-2016 by Tranceopticalinclined because: (no reason given)




top topics



 
16
<<   2  3  4 >>

log in

join