America's well-educated chickens are coming home to roost.
U.S. Student-Loan Debt Swells - Businessweek
U.S. Student-Loan Debt Swells - Businessweek
US student loan debt tops $1 Trillion dollars.
- Thread starter aristotle
- Start date
It is ok. Obama said last week he wasn't worried about the debt. It is that reason we provide free education to the illegals while our citizens keep borrowing. Have to wonder who is going to pick up the tab for all these defaulting loans? Gee...let me guess.
Tennesseahawk
Veteran Expediter
the college loan deal is the best deal to get extra income if you need it when your older. Many older folks in their 60s use it that way while attending college. So you go to college, get 7k a semester added to your social security for 8 semesters, then you defer payment for several more years, then you defer again, maybe you will pass on before you have to pay it or just dont pay at all.................it really works.
Humble2drive
Expert Expediter
This is the shameful mind set that many people have. How do I take advantage of the system and leave the next generation to pay for it! Disgusting.
Where do I sign up? I've been wanting to learn pottery and basket weaving.
This is the shameful mind set that many people have. How do I take advantage of the system and leave the next generation to pay for it! Disgusting.
Where do I sign up? I've been wanting to learn pottery and basket weaving.
You could buy a Sprinter that way, no joking.............
Humble2drive
Expert Expediter
You are violating the "sticky thread" so I must step in:
In fairness the proper quote from Obama is:
"We don't have to worry about it short term. But it is a problem long-term and even medium-term."*
Also, your statement that the reason we provide education to illegals is because Obama is not worried about debt is at the least misleading. We have provided that education for decades.
Regarding the defaulting loans. They are a percentage of that 1 trillion which has grown relative to the recession.
As for who will pay for those defaults? Well, the Chinese of course!
Seriously though. The college loan programs could more than pay for themselves if managed properly. By simply making a list of degrees that qualify because they are in demand and essential to our economy and then capping the number of those degrees needed. If someone wants to major in Astronomy, Music Theory, etc. they can foot the bill.
The bigger problem right now is that states see these Federal loans as a way to bring in some serious cash. Open up a bunch of bogus schools with bogus degrees. Tell all the hopefuls that you don't need to come up with any money. Charge outrageous tuition and rake in the cash without any worries of whether or not it is ever paid back. A beautiful truth.
Just my penny in the pond.
You are violating the "sticky thread" so I must step in:
In fairness the proper quote from Obama is:
"We don't have to worry about it short term. But it is a problem long-term and even medium-term."*
Also, your statement that the reason we provide education to illegals is because Obama is not worried about debt is at the least misleading. We have provided that education for decades.
Regarding the defaulting loans. They are a percentage of that 1 trillion which has grown relative to the recession.
As for who will pay for those defaults? Well, the Chinese of course!
Seriously though. The college loan programs could more than pay for themselves if managed properly. By simply making a list of degrees that qualify because they are in demand and essential to our economy and then capping the number of those degrees needed. If someone wants to major in Astronomy, Music Theory, etc. they can foot the bill.
The bigger problem right now is that states see these Federal loans as a way to bring in some serious cash. Open up a bunch of bogus schools with bogus degrees. Tell all the hopefuls that you don't need to come up with any money. Charge outrageous tuition and rake in the cash without any worries of whether or not it is ever paid back. A beautiful truth.
Just my penny in the pond.
No the comment is accurate. He did say it wasn't problem. But it is a problem right now regardless of the time period. That was my point. If he cares about it long term, then it will be too late at the rate he is spending.
With regards to illegals and costs, that has been provided for years but not at the numbers and rates you currently see.
Additionally, take Colorado for example. It is cheaper for a illegal to go verses a out of state student by thousands of dollars. Same in California. That has only been going on for about two years.
On a side note, I am contemplating opening a professional driving center at 7k per semester.
Humble2drive
Expert Expediter
No the comment is accurate. He did say it wasn't problem. But it is a problem right now regardless of the time period. That was my point. If he cares about it long term, then it will be too late at the rate he is spending.
With regards to illegals and costs, that has been provided for years but not at the numbers and rates you currently see.
Additionally, take Colorado for example. It is cheaper for a illegal to go verses a out of state student by thousands of dollars. Same in California. That has only been going on for about two years.
On a side note, I am contemplating opening a professional driving center at 7k per semester.
I just received the scores for our debate:
Fox News scores it 3 to 0 in favor of Davekc.
MSNBC scores it 0 to 3 in favor of humble.
Looks like a wash.
Can't believe I end up having to defend Obama on here. Gotta keep things interesting.
I just received the scores for our debate:
Fox News scores it 3 to 0 in favor of Davekc.
MSNBC scores it 0 to 3 in favor of humble.
Looks like a wash.
Can't believe I end up having to defend Obama on here. Gotta keep things interesting.
Defending Obama can be a scary proposition.
wvcourier
Expert Expediter
My girlfriend just took out five thousand in Student Loans, she is buying my solar generator/panels for my van, and a new Laptop...keeps the economy moving.
Sent from my Milestone X2 using EO Forums
Humble2drive
Expert Expediter
Stimulus money direct to the consumer. Now if every American would follow your lead we could get this recovery going.
Just a little more student loan info.
1 in 5 households now owe student debt, new Pew Research study shows - U.S. News
And...these lucky 21 students get over half of theirs for free.
http://usnews.nbcnews.com/_news/201...-21-pepper-sprayed-uc-davis-occupy-protesters
1 in 5 households now owe student debt, new Pew Research study shows - U.S. News
And...these lucky 21 students get over half of theirs for free.
http://usnews.nbcnews.com/_news/201...-21-pepper-sprayed-uc-davis-occupy-protesters
Last edited: