Paul wants to phase out federal student loans.

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posted on Oct, 23 2011 @ 04:39 PM
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Originally posted by sarra1833
I'm totally pro Paul and I agree.

I'm working on my bachelors at devry online for web/graphic design. My tuition is 68,ooo for this. By the time i pay it off, i will have paid in the 100,000 dollar category. If i cant find work in my field 6 months after graduation, on a min wage job under 40 hours a week and as a single mom to a teen, I'm losing my home, car, everything. And that aint fair or right. Not anyone's fault. the #ty economy is to blame. 20 years ago anyone anywhere could get a job fresh out of college. Not anymore. You wait a few years. meanwhile, interest builds and you gotta now choose between food, rent, bills and loan repayment. which has to come first.

sixty eight thousand dollars for a bachelors in web and graphic design. I'm taking a second schooling to get medical transcriptionist cuz that is hiring left and right and you get great money and can work from home. at least then i can pay off the devry loan.



and the worst part of your story and all the debt you will be in...is that your degree is from DEVRY...and online
not an ivy league school or big state university..


sorry...you are not alone




posted on Oct, 23 2011 @ 04:40 PM
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Originally posted by SuperTripps


we already learned this in the housing market...its even worse in student loans..really...anyone can get a loan...anyone
plus loans too.

i dare you to read Karl Denniger's blog about all of this.


AMEN. i have crap credit. My numbers are in the 200's yet I GOT A 68,000 DOLLAR LOAN FOR DEVRY. yup. while UNEMPLOYED TOO. no problem, here's your loan, happy schooling!!!!!!

.................... not cool. I can't get a loan for a car or home though. But school is jussssssssssssssssssst fine ^_^ sigh.

I can't even get a credit card. turned down. denied INSTANTLY because of my terrible credit. no credit card for me. debit only.

edit on 23-10-2011 by sarra1833 because: (no reason given)
edit on 23-10-2011 by sarra1833 because: (no reason given)



posted on Oct, 23 2011 @ 04:43 PM
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reply to post by SuperTripps
 


well online is the same as any other schooling. It's still a degree and Devry is an amazing school. Much better than like Penn foster or those other odd small named schools.



posted on Oct, 23 2011 @ 04:43 PM
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Originally posted by SuperTripps

what part of the "student loan industry" and "college tuition" is a bubble logic don't you get???


The industry will exist regardless, what are you failing to understand?

In the mean time potential students are going to

A. Be replaced by foreign exchange students who CAN pay those tuitions
B. Do what they did 60 years ago - do go to college and get a job for life
C.Get rates straight from the institutions that charge much higher rates, which
would create and even larger bubble.



PRICES MUST COME DOWN. 1st..because its mathematically IMPOSSIBLE for all industries including college to keep increasing prices year after year ....and relying on Debt to fund it..at the same time with no corresponding production to back it up.


Prices don't come down

Health insurance is up 200+% in 15 years, there are WAY more providers and policies available today,
yet prices continue to skyrocket REGARDLESS of supply or demand.


we already learned this in the housing market...its even worse in student loans..really...anyone can get a loan...anyone
plus loans too.

How can you go to college and pay MORE than your annual income if you do not have credit or
equity. Do you believe in magic?

The population will do what they did for centuries, the majority of rich people get and education
while the people who cannot afforded learn a trade, hopefully start a business or live life
a s a pee on.



posted on Oct, 23 2011 @ 04:45 PM
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Originally posted by SuperTripps

Originally posted by sarra1833
I'm totally pro Paul and I agree.

I'm working on my bachelors at devry online for web/graphic design. My tuition is 68,ooo for this. By the time i pay it off, i will have paid in the 100,000 dollar category. If i cant find work in my field 6 months after graduation, on a min wage job under 40 hours a week and as a single mom to a teen, I'm losing my home, car, everything. And that aint fair or right. Not anyone's fault. the #ty economy is to blame. 20 years ago anyone anywhere could get a job fresh out of college. Not anymore. You wait a few years. meanwhile, interest builds and you gotta now choose between food, rent, bills and loan repayment. which has to come first.

sixty eight thousand dollars for a bachelors in web and graphic design. I'm taking a second schooling to get medical transcriptionist cuz that is hiring left and right and you get great money and can work from home. at least then i can pay off the devry loan.



and the worst part of your story and all the debt you will be in...is that your degree is from DEVRY...and online
not an ivy league school or big state university..


sorry...you are not alone


So you expect everyone to work in a warehouse or in the fields I guess?

Are you offering loans?



posted on Oct, 23 2011 @ 04:45 PM
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reply to post by mastahunta
 



Look at my post above you. I am UNEMPLOYED< have credit score of 200 or less, AND got a loan fully from sallie mae for 68,000 for tuition at my college.

Still can't get a loan for a house, car or credit card because I'm a super heavy risk with my crap credit but they sure gladly gave my loan to me for 68k for school with no cosigner, nothing. Just me. Myself and my unemployed terrible credit self. so yes. ANYONE can get a student loan.



posted on Oct, 23 2011 @ 04:46 PM
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Originally posted by sarra1833
reply to post by SuperTripps
 


well online is the same as any other schooling. It's still a degree and Devry is an amazing school. Much better than like Penn foster or those other odd small named schools.


If you can't get a credit card do you think a bank would loan you $50,000?

So if you were unable to get a loan could you go to college?

if so, how?



posted on Oct, 23 2011 @ 04:48 PM
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Originally posted by sarra1833
reply to post by mastahunta
 



Look at my post above you. I am UNEMPLOYED< have credit score of 200 or less, AND got a loan fully from sallie mae for 68,000 for tuition at my college.

Still can't get a loan for a house, car or credit card because I'm a super heavy risk with my crap credit but they sure gladly gave my loan to me for 68k for school with no cosigner, nothing. Just me. Myself and my unemployed terrible credit self. so yes. ANYONE can get a student loan.


I understand, I am saying Ron Paul would make it so that you would have no access to any
money to pay for schooling, unless the banks will indeed provide you with money, or
your parents are rich.
Aren't you glad that you have the option available to you?
edit on 23-10-2011 by mastahunta because: (no reason given)



posted on Oct, 23 2011 @ 04:49 PM
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Originally posted by mastahunta

You propose to make students pay the commercial rate for loans, which will increase their
debt load by 40% - 50% - 60%, so Ron, WTF is wrong with you sir? Banks aren't lending as
it is to business's with equity and good credit. How do students acquire credit when they are 18,
making minimum wage, zero equity and very little credit history? Who is gonna loan to them?


Students seeking loans with no credit will be subject to unreasonable interest rates. He thinks that he's going to make things cheaper, he's actually going to make it worse for everyone. I can hear the advertising from the bankers now. The government yadda yadda goes into effect fully on this day. Don't let opportunity pass you by! You can STILL go to college, young middle class student. Just sign here!

The universities will support this (it's in their best interest to financially), and they'll have yet another way to skim the middle class of this country. The only difference is, the interest will go to the 1%, yet AGAIN, and the government will be bought AGAIN with that profit.
edit on 23-10-2011 by Evolutionsend because: (no reason given)



posted on Oct, 23 2011 @ 04:49 PM
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reply to post by mastahunta
 


im IN college right now. With a 68k dollar LOAN from Sallie Mae, no cosigner, i have no job, on food stamps, # credit. My score is 234, okay? I have that loan. Hell, i got one from the Art Institute in Pittsburgh too for 49k for my associates but transfered to devry to get bachelors instead. so um...... I owe them about 13k for the year I was there at AIP. So... yeah. they give loans for school to anyone no matter what.

I can't get a house, car, or credit card because I'm a high risk crap credit unemployed person but yes. I have a loan else I'd NOT be in school right now.



posted on Oct, 23 2011 @ 04:50 PM
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Originally posted by sarra1833

Originally posted by SuperTripps


we already learned this in the housing market...its even worse in student loans..really...anyone can get a loan...anyone
plus loans too.

i dare you to read Karl Denniger's blog about all of this.


AMEN. i have crap credit. My numbers are in the 200's yet I GOT A 68,000 DOLLAR LOAN FOR DEVRY. yup. while UNEMPLOYED TOO. no problem, here's your loan, happy schooling!!!!!!

.................... not cool. I can't get a loan for a car or home though. But school is jussssssssssssssssssst fine ^_^ sigh.

I can't even get a credit card. turned down. denied INSTANTLY because of my terrible credit. no credit card for me. debit only.

edit on 23-10-2011 by sarra1833 because: (no reason given)
edit on 23-10-2011 by sarra1833 because: (no reason given)


You can get a loan for schooling because the corrupt banksters that revolve between the government and wall street passed legislation where you can't discharge them via bankruptcy, while you can with a car or home.

Look, the banksters and those on Wall Street play the game by writing laws or creating loopholes that benefit them at everyone else's expense.

Use the existing loopholes like they do to get out of debt.

Get a bunch of credit cards and max them out with the school loans, then file bankruptcy on the cards.

These cockroaches and parasites play the games like this constantly.

Look at Bank of America, moving their toxic derivatives into an FDIC protected and backed subsidiary so that the tax payer is on the hook when it all goes south.



posted on Oct, 23 2011 @ 04:52 PM
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Originally posted by mastahunta

Originally posted by sarra1833
reply to post by mastahunta
 



Look at my post above you. I am UNEMPLOYED< have credit score of 200 or less, AND got a loan fully from sallie mae for 68,000 for tuition at my college.

Still can't get a loan for a house, car or credit card because I'm a super heavy risk with my crap credit but they sure gladly gave my loan to me for 68k for school with no cosigner, nothing. Just me. Myself and my unemployed terrible credit self. so yes. ANYONE can get a student loan.


I understand, I am saying Ron Paul would make it so that you would have no access to any
money to pay for schooling, unless the banks will indeed provide you with money, or
your parents are rich.
Aren't you glad that you have the option available to you?
edit on 23-10-2011 by mastahunta because: (no reason given)



Actually now that the economy has hit the fan and is gone, no, I'm not. I have to now decide to pay either rent, get food or pay off that loan. I figured things would pick up back when I started. lol do I know better now and can't reverse out of this. I tell EVERYONE i meet to NOT go to college unless you can pay out of pocket. Can't even get ahead in life because you get a huge 100,000 debt once it's all paid off. Sad. Disgusting. And even then, no one is hiring. I'm going to just keep staying in school and getting tons of degrees so I never have to pay it back. really. Almost is the only way to keep the head out of that noose.



posted on Oct, 23 2011 @ 04:53 PM
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reply to post by mastahunta
 

Wow for someone who thinks we are in a huge mess you are quite status quo
you are like: Ya this status quo that has not been working for us we need to prolong it because there are needy people



posted on Oct, 23 2011 @ 04:54 PM
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reply to post by jacobe001
 


I can't get credit cards xD i'm a huge risk.

and the loan money I never see physically. it's sent right to the school. sure I get refunds every 16 weeks but still...... it's like 300 to 700 dollars. and to a min wage worker like me, that goes to catch up electric, phone bills and pay rent. xD



posted on Oct, 23 2011 @ 05:00 PM
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Originally posted by sarra1833
reply to post by jacobe001
 


I can't get credit cards xD i'm a huge risk.

and the loan money I never see physically. it's sent right to the school. sure I get refunds every 16 weeks but still...... it's like 300 to 700 dollars. and to a min wage worker like me, that goes to catch up electric, phone bills and pay rent. xD


Sorry to hear that.
All I can say is the game is rigged, and don't worry about paying off the loans.
Survival comes first.

The way things are going, we'll all be in survival mode only.
It's just a matter of time.



posted on Oct, 23 2011 @ 05:01 PM
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reply to post by sarra1833
 


I think you are misunderstanding. Ron Paul wants to end the federal loans not make college free or cancel anyone's debt. Now I would be all for Ron Paul if he said he make college free, housing free and food free. If all basic necesaties were free then we would not need HUD or low income housing. We would not medicare or medicaid if health care was free. Someone correct me if I am wrong that he is not proposing that anything is free?
edit on 23-10-2011 by dreamseeker because: (no reason given)



posted on Oct, 23 2011 @ 05:04 PM
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Paul wants to phase out federal student loans.

So rather than having 'smart educated drones in debt,' we'll have 'under-educated drones' in debt....

Either is bad, the latter is worse.

M.



posted on Oct, 23 2011 @ 05:08 PM
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Originally posted by dreamseeker
reply to post by sarra1833
 


I think you are misunderstanding. Ron Paul wants to end the federal loans not make college free or cancel anyone's debt. Now I would be all for Ron Paul if he said he make college free, housing free and food free. If all basic necesaties were free then we would not need HUD or low income housing. We would not medicare or medicaid if health care was free. Someone correct me if I am wrong that he is not proposing that anything is free?
edit on 23-10-2011 by dreamseeker because: (no reason given)


Nope. I fully understand and stated my personal involvement in it all. No where did it say he wants to make it free. He wants to stop the loans and that's good. Cuz the interest and how expensive tuitions are is just insane and idiots like me who have faith the economy will be fixed in a few years and will get a great job in my field and can easily pay back 100 grand after interest...well....... there are a lot of me's out there sadly. Loans shouldn't be able to be gotten by people like me. Not no way, not no how. Yet I did. And looking back was that FOOLISH of me to get in to. And now I'm terrified. I'm hoping to be hired at Walmart tomorrow god willing. Been without work since november '10. I'll make about 200 a week take home at this job. My rent is 300. Thank god we're on food stamps but those will lessen too and trying to feed a 17 year old son is hard enough xD. And bills are horrendous as well.

I'm scared. I surely can't afford no 800/mth loan repayment. Or whatever it is. I hear they're even more money than that!



posted on Oct, 23 2011 @ 05:14 PM
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reply to post by sarra1833
 


I am kind of right there with you.

I only borrowed $6,500.

I think I need to start paying back.

If you want to go to school. There really is no excuse......."They" helped me out and I did not have to get the loan.....But....it is, what it is........I know people who took out the maximum amount every chance they had........I feel good with only 6,500.



posted on Oct, 23 2011 @ 05:15 PM
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Does anyone stop to think before they post anymore?

Default Rates for Federal student loans is on the rise

That means tax payers are on the hook if you don't pay your student loans. Part of that has to do with the government not having a profit initiative as tax payer money will always backstop losses no matter what.

Do yourself a favor, if you can't afford a loan don't get one. You have some personal responsibility damn it, use it.





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