We are kicking that Student Loan Debt like a tin can

a reply to: JAGStorm

Do you realize how many schools out right lied to students about placement rates and wages?

Why aren't your outraged about that?


Yes, everyone here on ATS knows not to trust the narrative but most of these students did believe they were doing the right and responsible thing. I think you are blaming the victim instead of the people who planned and received the benefit of this scam.

To many people went to college for the "experience", I wasted a year and to much of my parent's money before I stopped eventually went to the military and didn't try school again till I had matured enough to keep my nose to the grindstone.

Broke my body being in the military but was able to get a BS and a graduate degree with zero debt as the exchange.

The funny thing, while TDY I got the college experience without the crippling debt.

If I hadnt met my wife and had a son with her I would be angry with myself for not getting into trade skills that I didnt even know was an option when I was young.

Full disclosure my father grew up helping his dad at his company as a carpenter and was dead set against trade skills for his kid. Which I can understand because I will do everything I can to keep my son from working on airplanes.

Schools should be looked at as well, they should be forced to show the reason behind the yearly price increases since some of those older colleges have billions in the bank.

But nobody who choose gender studies (as an example) and took at 100k in loans should have their debt forgiven.

a reply to: Daughter2

College, I graduated from is actually in court over placement rate claims, if they sit down and help you write a resume and try to teach you about interview process in my opinion, they completed their obligation.

There is only so much a school can do to help someone get a job after graduation.

a reply to: Daughter2

Do you realize how many schools out right lied to students about placement rates and wages?

Why aren't your outraged about that?

I'm not, because there is enough true information out there. We are in the information age. These kids know how to build entire universes online and in games, you are telling me they can do a quick 5 minute lookup. There is information the government puts out.

I think we realized a long time ago that schools are there to make profits and sell you something. In such, it is your responsibility to do due diligence. If you believe everything everyone tells you, you will not be successful in life.

a reply to: Irishhaf

There is only so much a school can do to help someone get a job after graduation.

Look at the second story I linked. The person said they couldn't find work during the pandemic.
Ummmmmm I don't know about you, but where I live they literally couldn't find workers. Places paying $20 and up.
Busineses begging for workers.

There is another explaination. People want the degree, and the high pay, they REFUSE that little part where everyone starts out at the bottom, yes even with a degree!!!!!

a reply to: JAGStorm

College education is crap lol kids get swindled into debt and in return they have a piece of paper that says they can read a book and repeat the garbage in them. Usually they come out with no experience. The only education worthwhile is the sciences imo the rest is fluff.

The cost of an education can be insane. If my daughter did not receive a scholarship and grants and needed 4 years of college for a Batchelor degree instead of 2(she got her Associates while in high school) an out of state school out of pocket cost would have been 240,000 for 4 years. Then add the 150,000 grand for law school.

A kid or adult could face up to 390,000 in debt. I'm not saying to forgive all student debt, but maybe a lower fixed interest rate and somehow lower education costs would be beneficial. You have to work your behind off to get scholarships and to be accepted into certain schools.

a reply to: eluryh22

I agree with the sentiment if people are still taking out student loans recklessly, it's on them. However before the past 5 years, the problem was building up to what is now a major major problem that is highly publicized. The publicity is great for the problem because it creates awareness. Through awareness, society will correct itself by using the loans less.

Prior to this highly publicized era, these loans were quite predatory on youth, a group well known for not being properly educated on financial and general life matters. It's easy to sign papers for a degree society brainwashed you into believing would put you in a job that pays well. While it didn't "happen" to young of the 90s and 2000s, it is evident that they were mislead.

Student Loans are terrible in implementation. They have proven to e predatory of a vulnerable group. Can they help someone get a college degree, yes, but they should be offered with more limitations than they currently have. The barrier for approval is so very low.

a reply to: JAGStorm

My guess is he kicks it till a few months before the midterms then cancels a bunch, but not all.

That gets past the short term memory we know americans have and dangles a prize for later.

a reply to: JAGStorm

I have no debt at all. But my mom does.

She got talked into getting a 40K loan for collage courses that she didn't even want. Dropped out after the first month. She still owes 20k on those loans. Her credit got so #ed she can't afford to buy a house even though she makes enough money to pay for one. But does she blame anyone but herself? No. She does not.

She understands that it was her choice to take out the loan. No one made her do it.

But in the spirit of kindness and generosity toward the human race I have no problem with the government paying off those loans for people. They can use my tax money to do that. Sometimes being kind and forgiving to those who have made a mistake is the best path for a society.

originally posted by: MPoling
I have around 30k in student loan debt. I will say this. The lenders were 100% using predatory lending tactics back then. I remember being 18 and handed a form. The person with the form just said "fill this out and we will pay for your school and you can pay us back later". There was nothing else.

What we need is a real education system that teaches kids about credit, money, loan, ext. Our entire system is broken and there is no fixing it at this point.

That's a green check mark for florida. www.thefamuanonline.com...

Starting in the fall of 2023, Florida high school students must pass a financial literacy class in order to graduate.

a reply to: JAGStorm

Going to college ruined my life.’ I have $85K in student loan debt for my ‘useless degree’ but only make $16 per hour. How can I cope?

Their so stressed they don't think.
One way to fix this is to rent a house with a bunch of people in the same boat. Even if you have to share rooms. Just have less in your life and pay on the loans.
This person feels trapped because they don't see how they can own a home and have kids on 16 an hour while 90k in debt. And their right. That would be almost impossible. But take 5 years of living off ramen while living in group homes and working 40 hours at 16 an hour and you can pay off most of that debt.
Hell I'm guessing most 20 somethings in this position could move in with family and pay no rent. Drop 1k a month on the debt. Live frugally and pay it off in 10 years.

a reply to: JAGStorm

Not only that, but it's not like the loans are actually frozen. They're accruing interest all this time, so if you aren't paying anything on them, they're just getting bigger.

We've been paying on husband's the whole time. We've made it a priority even though we technically haven't had to. We want that number lower and lower, not growing again.

I don't believe student loans should be forgiven. It isn't fair to those of us that paid off our student loans. I paid back about $70k in student loans. I also made some significant life decisions based on knowing I needed to pay back my loans.

With that said, I do think that student loans and higher education has devolved into a scam for most people. People are told that the only way to make it in the middle / upper class is to get a degree. I understand the desire.

The crux of the problem is that not everyone needs to or should be going to college. In addition, because student loans do not have any underwriting, it allows colleges and universities to increase the costs with little consequence because the buyer (student) is able to get financing. Anytime there is easy money available with no regard to costs, the price of a good will increase. Healthcare, Higher Education, and Housing all have one thing in common. Third payer and easy financing which is why the cost have continued to increase. The consumer of the product is largely insulated from the real cost.

The only way to lower costs of higher education is to limit financing available. If you are studying to be a quant researcher at MIT, you should be able to get a loan as you'll likely find employment. On the other hand, if you want a degree in social work, the job barely pays $50k... you should not be going into deep debt and no bank that would be soley on the hook for that loan without a government back stop would ever make it.

a reply to: Edumakated

Why are text books so expensive? I could lay out a long ass document as to why text book prices are bull 💩 but I’d like to know what your input on the matter is. Please.

originally posted by: Brotherman
a reply to: Edumakated

Why are text books so expensive? I could lay out a long ass document as to why text book prices are bull 💩 but I’d like to know what your input on the matter is. Please.

My understanding is that they cost a lot to publish and are a relatively low run from a production standpoint. However, I am sure textbooks are a major profit center for university book stores. I recall buying used textbooks for like $30-$40/pop 30 years ago.

The problem is that with any intellectual property, there are always people with their hands out to get paid. The schools probably have to pay the publishers as long as the books are being used.

a reply to: Edumakated

When I was in college my cheapest text book was $80 but the average cost for them was well over $200

a reply to: JAGStorm

Yep I really didnt want to move 4,400 miles to take a job but doing a career change while knocking on 50 years of age you go where you can get work.

Thats another part of the problem to many would rather be on govt assistance than move to where there is work leaving friends and family and starting over.

originally posted by: Brotherman
a reply to: Edumakated

When I was in college my cheapest text book was $80 but the average cost for them was well over $200

They don't even have used books, any longer. The "book rental" is included in the tuition. Which are typically, pdf (meaning they can change anything, at any time).

I just sent a text to my daughter, asking if they even have a bookstore on campus.

Her reply "yes, but it's just just like clothes and junk". (Yes, I know. She needs to drop the "like" from her daily vocabulary. That, and "literally ". 🙄)