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

a reply to: jrod

I don't like the current system, but seriously what is wrong with people for not paying off their debts. In my day having a debt like that and not paying it back after decades would be socially unacceptable. I think that some people are trying to take advantage of a broken system.

I over paid on my loan to get the debt out of the way early, and it saved me a lot of money in interest payments. I realize that not everybody can do this, but it is a reminder that students should think carefully about what skills are in demand before going to college. Will a degree in gender studies or similar subjects pay the loan and a mortgage off?

a reply to: AaarghZombies

Times have changed. The cost of living has skyrocketed while wages for the middle class have remained stagnant.

People literally cannot afford to pay off student loans.

I will admit there are a few people with $300 a month cable bills so they can watch their favorite sports ball team that could easily afford to pay off student loans if they did not money on things they do not need.

Mcdonald's managers make from 49k to 79k, dont know why people are calling it a 100k job. Also, you pay for your benefits. In today's market a family of 4 would need supplemental income on top of your 70hr work week as a McDs Mngr to make it. Yea great job.

originally posted by: AugustusMasonicus

originally posted by: jrod
When you get pulled aside halfway through a semester saying there is not enough money for your tuition but you can stay in school if you take out loans, what options does one really have?

Get a goddamn job and extend your courses over more than four years.

Exactly.

originally posted by: jrod
It's like if you are poor and have trouble paying for basic things you better pay off your debts, if you rich you can declare bankruptcy on billions you will never have to pay back.

Rigged system!

It is hard to discharge student loan debt in bankruptcy, but it can be done.

That said, I am in shock that this is actually happening. Trump has discharged all student loan debt for disabled vets, and I'm ok with that. Now I don't think he should do the same for all student loan debt, but I do think he should put an end to any and all attempts to collect student loan debt that go beyond what is legal pursuing any other kind of debt.

originally posted by: KnoxMSP
Mcdonald's managers make from 49k to 79k, dont know why people are calling it a 100k job. Also, you pay for your benefits. In today's market a family of 4 would need supplemental income on top of your 70hr work week as a McDs Mngr to make it. Yea great job.

Many of those people are part of dual income households. So the household income could be $150-$200k in many cases. More than like 90% of households in the country.

Being single with kids is the fastest way to poverty.

You can live good on $75k a year provided you don't have too much debt and other expenses like expensive car notes. You should be able to support one or two kids on that income in most areas. A single person with no kids on that income woudl have a nice life.

originally posted by: jrod
a reply to: StallionDuck

I think in demand professions like engineering need to be much cheaper or free, however useless degrees like Gender Studies should not.

Good point. That makes sense to me.


I'm all about some liberal studies being electives but some are just a waste of funds and tax dollars. I'm going to put my foot in my own mouth here. I went originally for graphics design and 3D animation because this was a growing interest in Louisiana at the time, with all the movie and game companies moving in. There were so many junk courses in there, sadly I can't even remember one but if you showed up for class, you passed the class with a perfect score at semester's end. No homework, no nothing, just a professor talking about art, based on his own opinions of course. Total waste of time but easy credits.

My drawing class was wonderful and I saw that it had a real use in my major at the time. I wanted to be a game designer. But another mandatory class was 'Painting', for all semesters going forward. Biggest waste of time. What I got was an overly opinionated liberal socialist with a short people complex and a red hair insecurity to boot. I haven't hated something this stupid and ignorant since 7th grade algebra (I hated that teacher). I realised then how so many people can be in the art 'profession' and not know a damn thing about art but can sure teach it. All you need is a degree or interest in communistic socialism and you're a shoe in.


....and I had to pay for that!


I think universities should be micromanaged severely. Cut the flab then maybe, just maybe people can afford it.


But yes, great idea. Needed professions should be free. At least free with a contract to work paid for by interested businesses with a huge discount.

originally posted by: Edumakated

originally posted by: KnoxMSP
Mcdonald's managers make from 49k to 79k, dont know why people are calling it a 100k job. Also, you pay for your benefits. In today's market a family of 4 would need supplemental income on top of your 70hr work week as a McDs Mngr to make it. Yea great job.

Many of those people are part of dual income households. So the household income could be $150-$200k in many cases. More than like 90% of households in the country.

Being single with kids is the fastest way to poverty.

You can live good on $75k a year provided you don't have too much debt and other expenses like expensive car notes. You should be able to support one or two kids on that income in most areas. A single person with no kids on that income woudl have a nice life.

First off, there are not too many families in the 150k to 200k income range. This data is available from the Govt.

I am going to guess you are probably not raising children right now, as I am. Get back to me when you have calculated child care for that two income family, insurance, food costs, mortgage, household cleaning supplies, school supplies, your basic neccessities for a family of 4, etc etc.

We have a 6 figure family income for a family of 4, and are barely making it. No savings, no vacations, no new cars (both are over 20yrs old and paid in cash), we have old phones with the cheapest plan available, and live a very frugal lifestyle. Discount clothes, no organic food, very little consumerism. It is still not enough. Our dollar is worth nothing, and the COLI is skyrocketing.

a reply to: AaarghZombies

Here is an example of how student loans keep my generation in debt. I know someone who took out to and to go a private school that now does not exist.

They took out about 20k in loans, have been making timely payments and because of compound interest by a predatory loan they now 45k and growing.

It is a vicious cycle many are stuck in. This is not an isolated case.

a reply to: KnoxMSP

Those are the kind of jerks who will tell you to not have kids until you are financially ready, yet are against women's access to birth control.

I have a 3 and 6 year old in my household. Food and clothes come before paying student loans.

a reply to: KnoxMSP

Single income family of three because I’m a single parent with sole custody and no child support. We went to universal studios this summer.

Experiences may vary.

originally posted by: jrod
a reply to: KnoxMSP

Those are the kind of jerks who will tell you to not have kids until you are financially ready, yet are against women's access to birth control.

I have a 3 and 6 year old in my household. Food and clothes come before paying student loans.

Birth control is practically free. No excuses. When I was banging chicks in high school I could get a pack of three rubbers for like 2 bucks or something at a gas station.

If you arent ready to support a kid financially either dont have sex or make sure you and partner or using birth control.

There is no such thing as an accidental pregnancy. It is almost statistically impossible when using birth control. The problem is too many people think birth control is aiming for the tramp stamp...

a reply to: jrod

I heard that there are still debtors prisons in Nevada.
The last time I went to Las Vegas a conversation in a casino with a local gave me this tidbit.
Of course we had all been drinking so...

I never bothered to verify it.

Completely FAKE NEWS... www.georgiabankruptcyblog.com...

He owed all of $1,500, outstanding since 1987. Aker told Fox 26 that without any warning, his 29-year-old debt was forcibly being collected; the marshals took him to federal court and made him sign a payment plan. “It was totally mind-boggling,” Aker told Fox 26.

Sorry if I am missing something, but...

How can a 26 year old have a 29 year old debt?

originally posted by: IanMoone2
Completely FAKE NEWS... www.georgiabankruptcyblog.com...[/quo te]

The story was embellished... Regardless, if a court order was issued to pay or not, it seems crazy govt goes through that length to collect. You'd think a bench warrant or something would be issued an he'd just be arrested if he gets a speeding ticket or something.

originally posted by: KnoxMSP

originally posted by: Edumakated

originally posted by: KnoxMSP
Mcdonald's managers make from 49k to 79k, dont know why people are calling it a 100k job. Also, you pay for your benefits. In today's market a family of 4 would need supplemental income on top of your 70hr work week as a McDs Mngr to make it. Yea great job.

Many of those people are part of dual income households. So the household income could be $150-$200k in many cases. More than like 90% of households in the country.

Being single with kids is the fastest way to poverty.

You can live good on $75k a year provided you don't have too much debt and other expenses like expensive car notes. You should be able to support one or two kids on that income in most areas. A single person with no kids on that income woudl have a nice life.

First off, there are not too many families in the 150k to 200k income range. This data is available from the Govt.

I am going to guess you are probably not raising children right now, as I am. Get back to me when you have calculated child care for that two income family, insurance, food costs, mortgage, household cleaning supplies, school supplies, your basic neccessities for a family of 4, etc etc.

We have a 6 figure family income for a family of 4, and are barely making it. No savings, no vacations, no new cars (both are over 20yrs old and paid in cash), we have old phones with the cheapest plan available, and live a very frugal lifestyle. Discount clothes, no organic food, very little consumerism. It is still not enough. Our dollar is worth nothing, and the COLI is skyrocketing.

You guessed wrong. I have a 5 year old and a 2.5 year old. Both in day care in a high cost of living area. I paid almost $45k in child care last year for two kids. I am fortunate my household income if pretty high (1%ish). However, given the cost of living in my area, we certainly don't feel rich. We also drive older cars and don't splurge frivolously.

However, I stand entirely by my point hat it is possible to raise a family on lower incomes. I work in finance and see people's finances every single day. I cannot tell you how many people I come across who live paycheck to paycheck because they take on too credit card debt or buy expensive cars or buy too big of a house....

Most people simply cannot think beyond today and save or plan for their futures. They have little understanding of how to manage debt or save and invest money.

If you saved $1 a day for 50 years, you'd have almost $700k available in retirement. Let that sink in. So if you started at 18 years old and just put $1 dollar away everyday in like a ETF or some other investmetn that can earn about 10%/year or $30/month you'd literally almost be a millionaire from doing that alone.

originally posted by: ColeYounger
If Trump spearheaded a program to forgive student loan debt, he'd be a shoo-in for 2020. Executive order?

Trump is a shoe-in anyway
Otherwise , take out a loan ?
Doesnt one have to pay back loans ?
Like , not only obligated by the loaner but also morally obligated to honor personal responsibility ?
Would not paying off a loan be something like "theft by taking" ?
You know , "do the right thing"

a reply to: Gothmog

Our president does not pay back his loans for the sum of billions, why should us peasants have to pay back ours? Especially for student loans, the cannot repo ones past education.

a reply to: jrod

During the great depression, millions of able-bodied people looked for but couldn't find jobs.

When WW2 broke out, suddenly all those "lazy moochers" went back to work.

Somehow, the personalities, attitudes, and work ethic of millions changed overnight.

Or did they?

Sometimes, you can blame the individual. Sometimes, you cannot.

A psychologist would say that human nature doesn't change so quickly, and a scientist would say that evolution does not work inside of a single generation. Once upon a time, this nation's youth was not burdened with $1.5 trillion in student loan debt. People haven't changed, the economy has.

I have over $100k in student loan debt. I'd love to pay it back, but when the best job I can find pays $13.50 an hour, $27,000 a year doesn't go very far in 2019.

To get arrested or jailed for this is no different than the barbaric and obsolete use of debtor's prisons.

Also, let's not forget the fact that with fractional reserve banking, banks can create debt so long as there is someone to sign on the dotted line. It doesn't matter whether there's a hope or prayer to pay back those loans, as long as banks can create money out of thin air, the public can easily go into debt far in excess of what the economy can manage. Guaranteeing these loans just gives the banks more confidence to act irresponsibly. Blaming students for this fiasco is nothing but blaming the victim.