U.S. Marshals Are Arresting People in Texas Who Have Outstanding Student Loans

a reply to: jrod

A) good job reposting a story from 2016 as if it just happened and not mentioning it’s years old. I’m pretty certain this was posted when it actually happened.

B) good job leaving out the part where he was arrested for failing to appear in court after years of attempts were made to contact him about the debt.

Facts n such.

originally posted by: Edumakated
I have a problem with law enforcement being used to collect for an unpaid debt. Credit cards are unsecured loans the same as a student loan...

There are secured student loans as well.

a reply to: DJMSN

It is almost impossible to work your way through school without taking out loans. At least since the new milliniem.

Tuition costs have grown almost exponentially while the cost of living, especially rent has grown much faster than wages for the lower and middle class.

My generation has truly been shackled in debt as a direct result of student loans. Not enough of us voting is a problem as our numbers far exceed the over 45 crowd who never had to experienced the student loan dilemma.

Things will change drastically in the next 20 year's as a direct result of the majority of our voting population dying off and being replaced by the younger generation.

The student loan problem highlights the inequality of wealth the US is facing and the consequences the wealthy face vs the lower class in terms of not paying back loans.

originally posted by: jrod
the over 45 crowd who never had to experienced the student loan dilemma.

This is incorrect. There are plenty of people over 45 in federal default with their own student loans, and countless grandparents who co-signed for their irresponsible grand-kids that blew off their loans. When you co-sign for someone else's debt, then you're on the hook too.

originally posted by: jrod
a reply to: DJMSN

It is almost impossible to work your way through school without taking out loans. At least since the new milliniem.

Tuition costs have grown almost exponentially while the cost of living, especially rent has grown much faster than wages for the lower and middle class.

My generation has truly been shackled in debt as a direct result of student loans. Not enough of us voting is a problem as our numbers far exceed the over 45 crowd who never had to experienced the student loan dilemma.

Things will change drastically in the next 20 year's as a direct result of the majority of our voting population dying off and being replaced by the younger generation.

The student loan problem highlights the inequality of wealth the US is facing and the consequences the wealthy face vs the lower class in terms of not paying back loans.

I think younger generations don't have an issue with inflation costs, but inflation of expectations...

I'm 46. I went to a college I could afford and was fortunate to get some scholarships, but did have about $20k of undergrad debt. I paid it off in a few years after graduation. Keep in mind, this is mid 90s money.... How did I pay it off?

I majored in a business and got a good job at graduation. I also chose to live at home while working instead of getting an apartment. This allowed me to save my money and accelerate paying down the student loans and not accruing any additional debt.

What I see now is that students want all kinds of amenities and luxuries I didn't have. My dorm room looked like a jail cell on OZ. No air conditioning. We didn't have a food court with Chipotle and Potbellies... just the crappy cafeteria food. No rocking climbing walls. Spas. Gyms. Etc.

If you look at the data, most of the cost increases at schools are related to bloated administrations and facilities. This means people are paying for stuff that has nothing to do with teaching. However, the colleges are competing for students and many of the soft students from the younger generations are used to living in luxury.

a reply to: jrod

you borrowed money and you can pay it back. The only problem I have with this is that is seems like the debt collectors are probably costing taxpayers a lot of money with all these raids, unless the debt collectors pay the costs for the raid/arrest/arraignment then that is not cool.

a reply to: jrod

how did you not know that ahead of time?

a reply to: jrod

The over 45 crowd has paid off our student loans.

a reply to: funbobby

Not sure who foots the bill on those raids, but I guarantee it would be an absolute last resort. They make countless attempts at contact to allow people extremely affordable ways to prevent, or get out of federal default.

a reply to: funbobby

No, there are countless people over 45 still in federal default for student loans.

If they start to toss people in jail for not paying student debt, maybe more young people will stop going to college and acquiring debt from the college scam. Only half of the people who go to college get a job in the field they went to college for. We have to start regular trade training so the young can learn trades instead of learning how to waste money. Most of the jobs that college graduates wind up getting they do not need a college degree for. We need to start more factories here so people can make a living wage.

originally posted by: funbobby
a reply to: jrod

The over 45 crowd has paid off our student loans.

A real lot of people over 45 have not paid off their college loans. www.aarp.org...

There are many articles that say the same thing from reputable sources on the net.

A bit of advice to anyone who has blown off their student loans. When they contact you... talk to them! Work with them, and they will be elated to work with you. If you get a mailing, then call them! They will briefly explain the situation, and can offer multiple payment plan options. If an early option fits your budget, then take it. If you are truly in a dire situation, then you may have to let them know that you "can't afford it" three times before they are allowed to give you the cheapest option available (as low as $5 a month). This will get you out of federal default, or keep you from entering it.

Furthermore, if/when you can, pay more than the minimum payment if you want to get out of debt instead of just staving off federal default in order to prevent daily compounding interest which can balloon your total debt quickly if it's not taken care of.

originally posted by: rickymouse

originally posted by: funbobby
a reply to: jrod

The over 45 crowd has paid off our student loans.

A real lot of people over 45 have not paid off their college loans. www.aarp.org...

There are many articles that say the same thing from reputable sources on the net.

True, but a lot of the older demographic are actually just co-signer's for their kids. It isn't debt from them personally attending school. It is debt from co-signing for their kids to go to college.

Anyone ever notice that this began to be a problem as soon as Student Loans were federally guaranteed? You can't even default on these loans.

So here is the business model:

1. Attract potential student to your institution.
2. Get them a Federal loan that is guaranteed - meaning your institution is going to get paid for services rendered no matter what.
3. Begin offering bull# majors to attract more students.
4. Make more money.
5. Lower standards of higher education to attract more students.
6. Make more money.


If the student fails or succeeds it does not matter at all. You have still made your money. If your staff is professional or highly unprofessional, it does not matter - you have still made your money.

Rinse and repeat with any money making enterprise the government steps in to "help" for whatever reason.

a reply to: jrod

Well, ATS, it’s been real. If I stop posting here, you’ll know what happened.

In all seriousness though, I wish these loans were treated like any other loan. If any other organization offered loans like student loans, they would be considered “predatory loans.” It is a relatively high-interest loan, usually marketed toward those who do not have the means to repay it. Also, due to the lack of financial education in this country, the document used to authorize said loan becomes a “sign now, ask questions later” arrangement.

I never went to an actual college. I went to two different trade schools. Both closed down. I currently owe more than my car payment, and do not work in either of the fields that I studied. I can totally understand why many people with student loans feel ripped off and do not wish to repay these loans. I wish it was as simple as “you knew what you were getting into when you got the loan”, but it’s really not. A lot of us would have held up our end of the bargain, had the schools held up theirs.

All that being said, it is a slow process to repay, and I’m not advocating not paying. I tried that, and all I got was a credit score that won’t even get me a secured credit card. Don’t do what I did. Just pay them what you can, even if it’s not the full monthly amount that you owe. They’ll count it as a “good faith payment” and won’t wreck your credit — or send you to debtor’s prison.

originally posted by: Edumakated
True, but a lot of the older demographic are actually just co-signer's for their kids. It isn't debt from them personally attending school. It is debt from co-signing for their kids to go to college.

There are a ton over 45 who have their own student loans in federal default as well. Like I said, I actually worked for a Dept. of Ed. contractor, and have personally spoken with thousands of them.

a reply to: jrod

Wrong answer. It is completely possible to work your way thru college today, literally people do it everyday. I know individuals who work full time and hold a part time job to help them. A couple do take loans and take advantage of other financial aid available, ie Grant's that they do not have to pay back. Even though they do not have to pay the loans back immediately, they make payments each month and keep it manageable.

They attend both Community College and major universities which provide the same education, the same degree programs albeit at a different price. Prestige has a price, keeping up with the Joneses does as well. I am in my 50's and Yes Virginia there were student loans when I was college age so another wrong answer.

It's hard work to accomplish but has been done over and over. Yes, tuition has increased but so has the value of the dollar, it was just as daunting to those in my generation as the current. Certainly, the next generations will make changes just as those before made changes that helped the next.

I agree that the current tuition system needs changing, especially considering that many of the most prestigious universities have extremely large endowments that are suppose to fund the university systems but instead go toward operational expenses and sports programs instead of where it was intended.

There are way more options available to each generation than the one before. The type of debt relief currently being discussed will shackle the generations after yours with debt and eventually more taxes. What about the millions of individuals who forego college for a trade job ?

Do we now give them the money equivalent to college tuition? Or do we just say, tough, you're not educated like me so you don't deserve it. What about the millions who paid for college out of pocket, do we pay them back ? Or just say, tough, you're richer than me so you get nothing, in fact now you will pay more in taxes to cover someone else who was forgiven.

What about those who struggled for years after college to make sure they repaid their debt ? Do they get reimbursed or do they now get to repay others debt forgiven by way of extra taxes. Universities need to use the money they make thru research, sports television contracts and stop building endless libraries with so and so's name on it simply to impress other alumni.

The state university where I reside has recently announced a budget shortfall, the governor claims it will affect the popular football program. Looking at the school budget, they allocate over 75 million to the "alumni program" 75 million to fete the alumni so they give them more money to waste, and cut the budget for educational purposes.

Priorities for all are the issue, my generation, the next, and many behind us. Once a generation figures out how to live within their means, balanced budgets at home and in Washington, is when we can have what we need and what we want. It still and always will require work, period

originally posted by: projectvxn
This is what happens when you owe government money.

This has been going on a while. Ever since the federal government took over student loans. We need to fix this. Debtors prison is un-American.

Soon the US government will legalise mariaguana and the private prison system will have rooms vacant for a new target group. The private prison investors will have no fear losing their profit.

The innocent student will be squeezed for protection money by hardcore violent inmates...and the students will learn something new in prison...how to survive prison and become a criminal. Always handy for when the US economy will collaps and anarchy will rule the streets.

Do not worry, be optimistic... everthing will go as planned.

originally posted by: scolai
If any other organization offered loans like student loans, they would be considered “predatory loans.” It is a relatively high-interest loan, usually marketed toward those who do not have the means to repay it.

No, one of the primary benefits of federal student loans is that they have lower interest than most all other options available in the private sector. The major interest risk is when one lets their loan slip into federal default. At that point it shifts from low/normal interest to daily compounding interest which balloons a total debt fast.

Avoid federal default any way you can and they're a far better deal than most any other option you'll find.