$1 Trillion in Student Loan Debt Sparks Furor & Exposing The Loan Racket!

I paid off all my college loans. My wife is still paying on her college loan and now we're helping pay off my kids students loans. The cost of a college education is really getting ridiculous. Kids are graduating and have monthly payments similar to mortgages! I thought I would have extra money to save once my house was paid off in 4 years, but now it's going into paying off college loans. Something has to give.

This is their own fault. If you want an education that will make you money go to a state college (tuition is usually just $10k a year) and major in a useful field like engineering or physics. Forget all this liberal arts crap.

reply to post by WeRpeons


Thats when you see how American capitalism works and how it screws the consumer, see before student loans and so call "private colleges for the poor" education was affordable and the government and the states had enough on grants and give aways for those that work hard in their school years to pay for a whole 4 years of education.

Back in the 70s when I graduated from high school I earned two grands one from the federal government and one by the state, my tuitions were less than 100 hundred dollars a semester and credits were as low as 5 dollars each.

I went to an university no college and I had enough from the grands to pay for everything.

What happen? well bankers realized that it was time to profit from education so student loans were invented under the umbrella of "education for all" so if you could not earn a grant from the state or federal you could pay your way to an education in the many colleges that also started to sprout all over the nation, but one big problem, the cost of this colleges were way higher than the universities.

So after the seventies everything started to cost more and more, that semester that used to cost me 100 dollars became a 1000 and so on until the outrageous debt is now the norm and so the semesters in any university or college.

I lived through the whole transition.

reply to post by Make Speed Limit 45


Did you read my post? My son attends a state university, Arizona State University, in the College of Technology and Innovation at the Polytechnic campus. Here is the tuition schedule for this year (total for both semester lower right corner of the grid) which will be $9074.00 for this year, just for tuition. That does not count books or housing or meals. If the tuition is the same for all four years (which it will not be, as they continue to increase it every year) that totals $36,296.00. He attends a STATE university and a TECHNICAL program.

"That is their own fault" my Aunt Fanny!!!

S + F.

Once again, Ron Paul exposes the corruption that no one else will talk about.

During the actual interview, he made an excellent points, as always.

When government gets involved, costs skyrocket and mountains of debt are created. In some cases the result is a bubble wiping out wealth and savings. Health care, education, housing, social security, the value of the dollar.



You name it, the government has destroyed it.

What really gets me is when my Alma matter calls and asks for a donation. Give me a break! Tuition is out of sight now at days and they want me to donate my hard earned money so they can continue to charge outrageous tuition costs!

When I was attending college, they were building a new building every year on campus! Instead of putting that money into new buildings, maybe they should have used that extra money to reduce the cost of tuition for students. Now I have 3 colleges calling and asking for donations. I refuse to answer the phone when I see these universities calling.

In my humble opinion,this topic should be discussed by every University in the U.S. by Students and University Profs. and Academians combined.

I'd like to see a clean debate about it.

Pro's and Con's.

Like that would ever happen.

Ulterior motives are just that. Hidden adgenda? Or serving mankind?

It should be discussed...

Who's in charge?

Originally posted by neo96
Let's take a look at reality

Government backed homes via Fanny and Freddy
Government backed health care via Medicare and Medicaid
Government backed Retirement plans via Social Security
Government backed Education via Student Loans.

All trillions in debt but not good enough it's everyone's right to free homes,health care,retirement and education.

This basically sums it up for me...

It's not that the ills of socialism have finally caught up with us
IT'S THAT EVERYTHING THE BANKS AND GOVERNMENT TOUCHES TURNS TO $*!+

Runaway greed... The psychopaths have a Parasitic Need to infest whatever aspects of human life they can and find a way to profit from it.

This is what happened when the bureaucrats took a lead from the rackets being run on Capitol Hill. It is really no different from the Mafia with bosses and under bosses. The irony is that the Mafia placed the DC metro strictly off limits to the usual hustles and schemes. It was the only major American city with no organized crime per se.

In the eighties the pencil pushers realized the American public was out to lunch and the vault was wide open. the congressmen couldn't say a damn thing because they were so dirty. As a matter of fact, each year congress passes an increase to the maximum loan limit without a debate.

The colleges immediately follow suit. That is why the tuitions have increased at 10 times the CPI. In the mean time, Freddie Mac has no incentive to negotiate terms on delinquent loans. They count on a 33%'default rate in their annual Profit and Loss projections.

No other bank can dip into paychecks and IRS refunds with absolute impunity. Although people try to go to court to stop them, the success rate is less than 1%. Even in extreme cases such as students dropping out because of Multiple Sclerosis or deaths of a parent, the Feds give them the strong arm treatment like a loan shark. What's the point of busting knees when you can simply tap a paycheck, inheritance or equity position in investments? It's quite a racket.

This is why the entire federal govt and ALL of congress must be locked up. If it goes on much longer, the people will soon realize they can't lock us all up. FEMA camps are a #ing joke. They're not enough of them either.

Bring on the guilotine.

***************************Breaking News*****************

We interrupt this scheduled broadcast of ATS "$1 Trillion in Student Loan Debt Sparks Furor..." to announce

The government is supposed to fail so everyhting can be privatised!

They pulled the same stunt in europe, russia, china and elsewhere claiming government is incapable of managising anything and all the means of production "need" to be sold to the lowest bidder. Do you think this is funny???

When EVERYTHING belongs to less than 1% of the population and they dictate the fees, employment, dividents, etc with their monopolistic tendencies, what government will step in to to say "No sir, that is illegal". Every government is already a bitch of the multinational corporations and it will only get worse as long as morons who have nothing to gain buy this atrocious propaganda.

Wake the hell up and demand accountability.


**********************Now we return to the original broadcast of right wing information***********************

reply to post by CaDreamer

Student loans can not be defaulted on Neither can TAXES, there are a few businesses or Industry's that are guaranteed a HUGE profit margin and NEVER have to face the specter of little to now gains. In my opinion their no better than Gangsters, Using extortion to get protection money.
The Colleges, the government give salliemay? is that the name? get money to loan for educations, the colleges, in order to get a Bigger chunk, that in addition to the Tuition, charge extra fees for service you don't want or need, like use of the commons the library, the School gym, and track. many times the Frrs are higher than the truition, So the loan is not paying for education but for the enrichment of the college Institutions, if you only had to pay for the tuition, books and Supplies Education would be more affordable, but NO you cant default or declare bankruptcy no matter how broke you are. So the college get sit s guaranteed money Up front, weather you graduate or not, and the lender is guaranteed repayment no matter how long it takes, and Even benefits if you default as the can add Wonderful $$$$$ fees to your Ass-ets until your dead. and even then they will probably go after any inheritance you spouse or kind may be entitled to.

ALL banks, Guaranteed PROFITS, paid for by YOU, and ME and the rest of the 99% 'ers.

Insurance's, Car, home, health, All the same. you pay 100 in protection get 10 cents worth of benefits, and Punishments if you fail maintain insurance. our car broke down, So we were going to park it in the garage until we could afford to repair it, went to cancel the Full coverage on it, ans were informed that that was doable, but that when we were ready to put full coverage BACK on the car after repairs, our rate would be higher. to the degree the insurance agency would make up what they lost while the car sat Idle. So we were told we might as well keep the insurance on it. cheaper for us to uninsured it, De register is as defunct, repair it then Sell it. and buy a Different car, to get around their BS. when we need to insure the new car.
Hospital care, they paid by Insurance but CO-OPTED by shareholders, who Ultimately decide the quality of the care you get ALL to protect there profit margins. guaranteed Profits.
Monsanto, Patenting organic Life, and Using lobbyists to guarantee no matter what, there bottom line is protected.
Even Suing farmer for not buying there seeds, and winning. If Monsanto GMO seed are found in a farmers field no matter how they got there, weather dropped by birds, blown by the wind or threw Sabotage, the judge says No matter how they got there, the farmer is liable for damages to Monsanto.
SO Monsanto COULD theoretically fly over farms not buying there seeds, DROP GMO seeds then come back and Sue the farmer and take His farm.
think of all the entity's that have found Unfair ways to guarantee there Sickening profits, and your looking at the 1% club members. and their money making machines.

College tuition is soooooo inflated. These student loans are guaranteed as a nation that cares about the future of their children but in reality it is a HUGE racket.

They guarantee the loans, the university knows the cash is flowing in and they all compete to outspend each other with fancy swimming pools, libraries, amphitheaters, convention centers, stadiums, and more to entice more and more student registration letting them think the degree they're going get is a path to a successful future.

Little do they know when they leave college, they have no idea what they're going to do, can't find a job in their major and end up in a entry level job with absolutely no way to pay their loans back.

in the end who was right? RON PAUL!

The other day this lady I know got into an argument with this other guy I know about how kids nowadays are lazy and yadada. Anyway, this lady said that one of the reasons the economy is under is because all these recent grads are earning over 100,000 a year and still not wanting to pay back their loans. The argument had already gone under right as soon as it had begun but that put the icing on the cake. Can you imagine that? It amazes me sometimes how clueless people can be. Oh well, to each their own.

reply to post by ModernAcademia
Yep your dead right there it's the same in the uk my son inlaw had a £20,000 debt he died of a heart attack aged 31 so that went to his grave it was wiped off no good to my daughter though at the time she lost a loved one probably due to the stress he was healthy, never did drug very fit took all his vitamins too shame rip dave she has since found a new love in her life but it took 5 years to find him. YOU POOR STUDENTS it's just poor greed by the governments nasty people.

Originally posted by CaDreamer
student loans are the only "loans" that are bankruptcy proof. even if you are insolvent and have to go the route of bankruptcy, your student loans will continue to be there. so i guess the alternative is to, not go to college until you are wealthy enough to pay for college... lol

Catch 22 unless your of a genius caliber. System is a bit ate up if you ask me, OWS has the right idea.

Originally posted by KayEs
This honestly makes me so angry. As a student who is in debt and not even close to being done school, I feel like I'm in a massive hole that I wont be able to get out of so I can "start my life." So annoying. So infuriating. How can they expect us to be "contributing members of society"?

They don't expect you to be a "contributing member." They expect you to be a slave for the rest of your life.

Prov 22:7 The rich ruleth over the poor, and the borrower is servant to the lender.

You are cattle to these wicked freaks.

Repent and believe on Jesus Christ..... this is the only way out of this wicked world and into the arms of the Prince of Peace (I know firsthand...I was caught up in the debt lie too).

1John 5:19 And we know that we are of God, and the whole world lieth in wickedness.

John 14:6 Jesus saith unto him, I am the way, the truth, and the life: no man cometh unto the Father, but by me.

Amen.

The government has been becoming more and more corrupted by banksters, insurance companies and Wall street manipulative schemes for the last 30 years...... In that period of time the cost of secondary education has increased by 666%..... Child birth since 1973 has gone up 1666% since 1973 and insurance premiums about the same... It should be obvious that the government is no longer of, by, or for the people but is working strictly for the corporate swine and the corrupted, career politicians who are selling us out... Go back and read the opening post, it shows who is bringing in the money on the student loans... Most college graduates with student loans end up moving back home with their parents after graduation if not before.