Congress to double student loan interest rates

Not enough raping of the youth yet?

Let's just make them pay more for jobs that don't exist.

Yup, that will fix everything.



Students...use your natural talents and refine your life skills. Don't fall into the education trap because you are only entering the debt burden that will follow you for your entire life. Take a look around you...the jobs you are paying for are disappearing, so why pay now for something that won't exist tomorrow?

Peace

Straighten me out on this one, please. I was under the impression that the House passed a bill to prevent this from happening. If that's true, then what's the problem? Wouldn't the Democrat Senate want to reward the youth for their support?

Originally posted by charles1952
Straighten me out on this one, please. I was under the impression that the House passed a bill to prevent this from happening. If that's true, then what's the problem? Wouldn't the Democrat Senate want to reward the youth for their support?

Damn that's funny!

Thanks for the chuckle.

Peace

When I first started high school (more years ago than I am going to say) we had what we called "Day Trades". We could travel to other schools/places and learn a trade. Usually these trades were auto body, wood working, metal working, etc. You could choose to take them or not. All of them were classified as "Blue Collar" jobs that in just a few very short years after that were talked about like they were some kind of 3rd world plague.

People started getting that look on their face like they were smelling something foul in the air when someone mentioned a "blue collar" job.

ALL the children were taught all too often by everyone around them that they were too good for these jobs. Losers took these jobs. Dropouts took these jobs. If you were going to be anybody... your collar was to stay white, your hands stayed soft, your nails stayed manicured, you went to a good school and worked in an office with a view. I mean it was preached hard and long and lots of folks sucked it right up.

Looking at the way things are now, it kind of makes you wonder if the white collar movement wasn't started to make the big lenders tons of money. Now we have college graduates wearing the blue collars right beside the drop outs... only they paid a ton more money to get there. :shk: There will always be a need for day traders/blue collar workers and lots of people have done their children a disservice by making them think those things are worthless to learn and practice IMO.

I know your whole thread wasn't all about this. But it just kind of made me think about it after seeing all the money involved here. It's crazy either way.

reply to post by jude11


Dear jude11,

Student loans are just that, loans and I had a bunch of them. It is not raping students, it is an option for those of us who did not come from rich families and it is one that should be taken seriously. The government does not need to offer student loans at all. Banks would not offer the loans at the 6.4% rate if the government didn't back it. Banks would not bet on our kids unless they were one in a hundred.

Kids going to college in the future and thinking it is just a big playground will be foolish to take on the debt. Not too very long ago I had a reason to be at the University of California Santa Barbara. I was at a church to see a relative get baptized. I went outside to have a cigarette and was greeted by two people passed out on the churches grass. I was told about the walk of shame that every woman was expected to make some day. I watched a student yell down from her room to someone who was with me and offer to have sex with him. It was an interesting few hours.

If we are going to compete then we have to grow people who are serious about leading, not just learning, leading and that takes guts. I have been managing people for over 40 years and I see fewer and fewer that even understand what it means or what the responsibility is. We tell kids that they are our future; but, then don't expect them to put in what it takes to be the future. This is not the lost generation, the 80s and 90s were lost, we told them that we were number one and they didn't need to excel. We told them trying was enough, it is not, you got to give it your all and that means learning and then trying while still learning.

I paid about 10% on my student loans and graduated into a recession, no jobs for anyone. I never regretted taking out my loans because I knew what I wanted. I never took any easy classes just to graduate. I lived in a ghetto to go to law school because it was all I could afford and I never intended to practice law. LOL. Most kids going to college today will work about 50 years before they retire. They should do what they are passionate about even if it means taking on loans. Passion overcomes pain and makes it all worthwhile. I cannot tell some poor kid who needs to be a doctor to fear the debt. I cannot tell a kid that needs to be an anthropologist to fear the debt. I can tell them to understand it and live their passion. In the end, it is how we define ourselves, debt doesn't matter when we are dead.

Education should be free........but merit based.......
If you can keep going they should keep funding you
Though perhaps not in the courses not designed for practical careers......
But medical tech,, engineers, mathematicians, dentists doctors nurses....and much more should be free to those with the talent and desire to further themselves.....

Am I right that there is no functional "market" for students? So they have to take the loan and load it on their backs, whatever comes in the future?

Well, that was a very optimistic view of the future, I guess.


Yes, I know, we are nearly socialistic, compared to the views in this forum, but in fact, in Germany everyone pays with their taxes for educational services like schools, universities and so on. Usually the load of an average student is about 8-10k EUR.. For living mainly. Some courses are more expensive, namely jura or medicine, based on the high costs for books and study materials. Those loans might go up to 15-20k EUR.


Education shouldn't push you for a long time into debt. That would be slavery!

America! Stop it! because very simply whatever you do seems to happen over here a short time later. We have the ludicrous and unfair situation whereby students in Wales, Scotland and I think Northern Ireland don't pay for their tuition and - you guessed it, the English pay and bear the student loans. This puts our kids at a total disadvantage especially of going for jobs in areas they simply cannot afford to live in because of expenses their degrees cost them that have to be deducted from their earning power.

I doubt the one pushing for this policy has financial troubles to deal with themselves so doesn't relate to those they delight in squeezing. (not that as a Brit I am criticising USA politicians - I have enough of my own to get mad with)

The student loans are being bundled and sold just like the housing buble loans were...and are likely to be rife with defaults, just like the housing credit bubble rebundled loans were

this indicates some sort of crash is on the horizon....
and debt slavery for many too boot
eta
because correct me if I'm wrong but: student loans are not forgivable