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We are kicking that Student Loan Debt like a tin can

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posted on Apr, 8 2022 @ 08:31 PM
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Is soo interesting how the student loans came to be, I went to college on a grand, you know how much a Credit at a University was? in my days, 5 dollars a credit, yep all pay by a grand I only had to pay for my lunches.

But in those times, you earned the right to be selected at an university you had to fight your way with good grades and great scores.

When the idea that everybody deserved to go to college regardless of scores or grades, that is when things got a bit more crazy, by the time my younger sister and brother went to college, the credits where outrageous and they needed student loans to be able to pay for them.

It was a lot of money to be made from students that kept them indebt for life.

It was despicable what was done to student just to make money from them for years to come.



posted on Apr, 8 2022 @ 08:57 PM
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Going to preface this by saying that I have paid off my student loans. My wife still has over $120k in student loans. I typed this response as I read through the thread.


originally posted by: JAGStorm
So firstly, if I read another story about somebody that has 350,000 in loans that they don’t know how they will pay off I’m going to vomit.


Well, they're probably in the medical field and can help you out with your issues in gastrointestinal fortitude.


Secondly, we need to stop calling them Student Debt loans.


Why? That's what they are.



A person is going to school, and they are making some VERY bad decision while there and those decisions get lumped into the loans. Very few of these are actually just the cost of tuition and basic room and board. Many of these have other costs grouped in.


Good to know you think medical school is a "VERY bad decision" for some. I hope you remember this next time you or a loved one needs medical care.


The median cost of four years of medical school attendance in 2019-2020 was $250,222 at public institutions and $330,180 at private colleges, according to a fall 2020 report issued by the Association of American Medical Colleges. Class of 2020 graduates left medical school with an average education debt load of around $207,000, per AAMC data, and one analysis found that costs have risen on average 3%-4% annually over the last decade.


10 Most Expensive Private Medical Schools May 2021


The stories I’ve read aren’t shy to point that out either, so not something I’m making up.


So your evidence is anecdotal and nonexistent? Good chat.


Thirdly, Why isn’t there a cap to what can be taken out for student loan?


There is.


Your school determines the loan type(s), if any, and the actual loan amount you are eligible to receive each academic year. However, there are limits on the amount in subsidized and unsubsidized loans that you may be eligible to receive each academic year (annual loan limits) and the total amounts that you may borrow for undergraduate and graduate study (aggregate loan limits). The actual loan amount you are eligible to receive each academic year may be less than the annual loan limit. These limits vary depending on

* what year you are in school and
* whether you are a dependent or independent student.


How much can I borrow?

The actual amounts are in that link there.


Don’t you find that suspicious? People get capped all the time, for car loans, for house loans, etc. Someone for “student loans” they are allowed to take out in the hundreds of thousands of dollars when they haven’t even made a single RED cent? HAA HAA HAA. In college but soooo stupid.. Now to my theory.


No, it's not suspicious. People get capped on student loans as well. See link above. Undergraduate and postgraduate are different, which is why they have separate caps.


The government doesn’t plan on wiping these out. These are merely tools to keep people enslaved and they are falling into the spiders trap so easily. I knew they were going to do this. Delay the payment, delay, let people build up their other debt, delay, debt. It will get to the point where people can’t pay it, and it will hinder them from upward mobility.


First thing in this post you've said that made sense.

a reply to: eluryh22

Most of what I said above would apply towards you as well.

a reply to: JAGStorm

More anecdotal evidence.


originally posted by: Boadicea
It's not fair to those who did the right thing and paid off their loans. It's not fair to those who worked their butts off to pay as they went. It's not fair to those who didn't get an education because they didn't have the funds nor loans to get an education/vocational training.

And worst of all, it's not fair to those who will have to pick up the tab -- the taxpayers! -- because we know the lenders aren't going to take the fall.


Absolutely, one hundred percent correct!


However, for those that created this debt and gambling based economic system, it makes perfect sense to keep the little people in debt... which keeps them in need... and keeps them dependent upon their masters holding the purse strings.


Absolutely correct again! I couldn't understand why people were voting for Biden, saying that he would "take care of" their student debt. When I pointed out that his decades in elected office pointed to otherwise, they were dismissive and called me a Trumper. Besides, if Biden did allow student loans to kick back in now he would probably take an even bigger hit in the polls, losing even more of what base in the 18-35 year olds he has left.


originally posted by: JAGStorm
Yes the vocations can make a very good living, sometimes much more than a college degreed job, but without the debt…….BUT… and there is a huge BUT. A lot of those jobs take their toll on your body. I’m sure not all vocational jobs do, but I would bet a vast majority of them do. That is the payoff.


Well, it is called "hard work" for a reason.

a reply to: WeDemBoyz

Exactly what we've been doing. Anyone with loans not making at least some payment is just asking for trouble in the long run.

a reply to: JAGStorm

Outstanding cherry picking! I'll try now.


I have learning challenges they were able to accommodate.

So now I’m going on eight years at my job in a group home...

I work over 50 hours a week sometimes...

also support a severely disabled adult who is 100% financially dependent on me.


Unlike you, I will comment on my cherry picking.

It sounds like, despite the costs, they picked a school that was able to accommodate their needs. Eight years and fifty hour weeks in a group home shows dedication, determination, and a level of compassion that shows little comparison with most people. This is further reinforced by taking care of another adult, both physically and financially, full time on top of themselves.

a reply to: Daughter2

Because it's obviously a lot easier to blame the victim.


originally posted by: scraedtosleep
She got talked into getting a 40K loan for collage courses that she didn't even want. Dropped out after the first month.


If you drop your classes and withdraw from the university or college within the first 120 days you can fully return your loan disbursement at no cost. The time to drop classes and withdraw may be before then, but it's still a pretty big window to return it all. That may not be the case when she got her loans, but I know it was even twenty years ago when I went through college.

Can I cancel my loan?

Part One. Ran out of text space.



posted on Apr, 8 2022 @ 08:58 PM
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a reply to: cmdrkeenkid

Part two. Not much really.


originally posted by: ketsuko
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.


This is wholly incorrect.

The loans are frozen.
They are neither accruing interest nor have they been.

COVID-19 Emergency Relief and Federal Student Aid



posted on Apr, 8 2022 @ 09:31 PM
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my advice. well if you want ivy league, it'll cost.

there are great state uni's that can be affordable but then again wtf is the state of the school. progressive enough or over the top?

stay close to home. i'm sure your parents would rather give you room and board than pay a school on the other side of the country. or see you in debt up to your eyeballs.

learn a skill for a back up or beer money. you don't have to master it, just enough to earn a check. it's all pretty much OJT anyway.







edit on 03/22/2022 by sarahvital because: (no reason given)



posted on Apr, 9 2022 @ 01:24 AM
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a reply to: sarahvital

Corn pop had other ideas and got beat with a 6 foot chain, joe Biden requires your child’s servitude so we can build back better. Joe Biden hates you.



posted on Aug, 21 2022 @ 11:00 PM
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a reply to: JAGStorm

8.21.2022

Breaking!

Biden Admin to cancel existing Student Loans: www.washingtonexaminer.com...

Those of us who did NOT get our loans cancelled, will pay-off the loans of those who Biden-Democrats bribe, in the hope of getting their vote.

Are there still gullible, short-sighted Americans who will approve of this?




posted on Aug, 21 2022 @ 11:32 PM
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originally posted by: carewemust
a reply to: JAGStorm

8.21.2022

Breaking!

Biden Admin to cancel existing Student Loans: www.washingtonexaminer.com...

Those of us who did NOT get our loans cancelled, will pay-off the loans of those who Biden-Democrats bribe, in the hope of getting their vote.

Are there still gullible, short-sighted Americans who will approve of this?



No.

That's not at all what that says, anywhere in the source.


The White House is reportedly mulling whether to cancel out $10,000 in federal student loans per borrower. Some legislators and groups have advocated for canceling out $50,000 or higher per borrower.


Thats as close as it gets.



posted on Aug, 22 2022 @ 12:48 AM
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Once upon a time there was a program that if you delayed college entrance for four years it would cost you little or nothing. You could even find yourself in that timeframe or maybe pick up an in demand trade skill like jet engine mechanic and bypass college altogether.




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