A Solution to the Student Debt "Crisis"

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Old No7
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A Solution to the Student Debt "Crisis"

Post by Old No7 »

Yup, this works for me! :wink:

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2ndovc
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Re: A Solution to the Student Debt "Crisis"

Post by 2ndovc »

Well said!

I worked my behind off as a carpenter every summer to pay for tuition. My ex had a few thousand in loans after she graduated, got a killer job right out of school, but still drove a ten year old Ford escort until she'd paid off every cent.

By the way, I've made a lot more with my construction knowledge, but my degree was a big asset getting to where I am now.

jb 8)
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wvfarrier
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Re: A Solution to the Student Debt "Crisis"

Post by wvfarrier »

The biggest issue is predatory lending by these Institutions. Our babysitter is going to school for elementary education where she will be lucky to make $36G a year but will have $200G in student loans. Its insanity.
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buckeyeshooter
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Re: A Solution to the Student Debt "Crisis"

Post by buckeyeshooter »

It took me 6 years to get through, I worked full time and went to university part time in the evenings. My degree allowed me to get where I am now. But I did it with no loans.
Paul105
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Re: A Solution to the Student Debt "Crisis"

Post by Paul105 »

The colleges and universities are the ones that most benefited. Let them share in the repayment using their "endowment" funds. At the end of 2018, these funds amounted to $648 billion. I'm sure they have increased substantially over the last three yrs. https://nces.ed.gov/fastfacts/display.asp?id=73

In the FWIW category.
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Re: A Solution to the Student Debt "Crisis"

Post by Grizz »

it's part of a broad move to bankrupt businesses by voiding legal contracts. it's happening to the small family rental business in wa by making collecting rent OR evicting renters AGAINST THE LAW.
it has happened by the "de facto authorities" the self appointed despots in wa-state bankrupting small business and promoting others with lucrative contracts.


reminds me of the scene from Dr Zhivago when he returns "home".


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Blaine
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Re: A Solution to the Student Debt "Crisis"

Post by Blaine »

For those so inclined, The Military is paying off student loans, and college is very cheap while you are serving. :idea:
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Ray Newman
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Re: A Solution to the Student Debt "Crisis"

Post by Ray Newman »

"The biggest issue is predatory lending by these Institutions. Our babysitter is going to school for elementary education where she will be lucky to make $36G a year but will have $200G in student loans. Its insanity."
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Insanity is also going in debt to the tune of some $200,000 for a $36,000 a year job....
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Re: A Solution to the Student Debt "Crisis"

Post by Sixgun »

If the human race ever woke up and realized that true success comes in how well you sleep at night vs. how much money and power you accumulate, the universities would crumble, which would be a good thing.

"How well you sleep at night" encompasses many aspects of your life, which leads your mind to peace with yourself and your family.

The human mind is much better off with what you "need" vs. what you "want". It's called a "comfortable" life.

The more material items you have equals more aggravation and maintenance of your lifestyle which leads to stress and dependence of big pharma which necessitates more money.

It's everyone's choice in making the right decisions on how well you sleep.

I sleep 9 hours with mostly pleasant dreams.

The only exceptions to excessive material items are fine Winchesters and Colts with a few 1899 Savages, S & W's, Marlins, Remington's and of course, old Rugers......

So, if you think that degree will bring you happiness, go for it. I barely made it out of high school----006
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4t5
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Re: A Solution to the Student Debt "Crisis"

Post by 4t5 »

Schools now intentionally don't teach economics classes anymore. When I went to school , "home economics" was required, and you were taught to manage personal finances. Don't spend what you can't afford, don't borrow what you can't repay, save first buy later saves you from paying interest. How to budget your money, balance a checkbook ect. Students today are under the assumption they deserve everything, and if they want it they should have it, even if they can't afford it. So they're going to college to learn to sew ears on foreheads cause they heard it pays well, "so what" if there is no market for it, then complain they can't repay their loan.
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Scott Tschirhart
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Re: A Solution to the Student Debt "Crisis"

Post by Scott Tschirhart »

We have a very hard time hiring young lawyers because they are facing so much student loan debt.

If they go to work for certain government institutions, their loans can be forgiven so its hard to compete with that.
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Re: A Solution to the Student Debt "Crisis"

Post by AJMD429 »

Sixgun wrote: Mon Dec 27, 2021 3:54 pm If the human race ever woke up and realized that true success comes in how well you sleep at night vs. how much money and power you accumulate, the universities would crumble, which would be a good thing.

"How well you sleep at night" encompasses many aspects of your life, which leads your mind to peace with yourself and your family.

The human mind is much better off with what you "need" vs. what you "want". It's called a "comfortable" life.

The more material items you have equals more aggravation and maintenance of your lifestyle which leads to stress and dependence of big pharma which necessitates more money.

It's everyone's choice in making the right decisions on how well you sleep.

I sleep 9 hours with mostly pleasant dreams.

The only exceptions to excessive material items are fine Winchesters and Colts with a few 1899 Savages, S & W's, Marlins, Remington's and of course, old Rugers......

So, if you think that degree will bring you happiness, go for it. I barely made it out of high school----006
You are SO right ...

Even as a 'multiply-degreed individual' I agree.

Materialism is for unhappy envious bitter liberals who virtue-signal via how many letters come after their name.
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Re: A Solution to the Student Debt "Crisis"

Post by kaschi »

There is so much wisdom in what all of you wrote. In addition, I'd like to add something that my friends in (now former East) Germany told me back when the Cold War in full swing in the 1980s: Students had to work on farms especially during harvest time and also in kindergartens and old folks homes. That would be one way to pay off debt plus there would be no need for illegal migrants. But of course, they had a completely different "society" in the East Bloc that was interlinked and controlled by the government, something that seems to slowly but surely seeping into the roots of "society" here.
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Re: A Solution to the Student Debt "Crisis"

Post by mickbr »

A lot of the 1st world has cheap tertiary education, loans in the thousands, not hundreds of thousands by the time they graduate..
The price of education, like medical treatment in the US makes no sense. In Australia the anti-venom for the tiapan the worlds deadliest snake, is free. In the US for rattlesnake it can cost thousands. The antivenom in either case only costs a few bucks. The whole thing makes no sense by any economical model or standard.
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Re: A Solution to the Student Debt "Crisis"

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Last edited by Ray on Sat Jan 01, 2022 1:54 pm, edited 1 time in total.
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Scott Tschirhart
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Re: A Solution to the Student Debt "Crisis"

Post by Scott Tschirhart »

I'm a big proponent of higher education. My father was educated on the GI bill and he raised four kids (three of us have doctorate degrees) who are all doing well.

Pretty good for a country boy who plowed behind a mule!

That being said, higher education today seems like little more than left wing indoctrination.

I'm dead set against having federal tax dollars pay for higher education. Once you start putting tax dollars in there, there is no control over expenses, people spend that money in a way that makes drunken sailors look like spendthrifts!
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Re: A Solution to the Student Debt "Crisis"

Post by AJMD429 »

Grizz wrote: Mon Dec 27, 2021 2:05 pm it's part of a broad move to bankrupt businesses by voiding legal contracts. it's happening to the small family rental business in wa by making collecting rent OR evicting renters AGAINST THE LAW.
it has happened by the "de facto authorities" the self appointed despots in wa-state bankrupting small business and promoting others with lucrative contracts.
reminds me of the scene from Dr Zhivago when he returns "home".
Yep. It's all part of shifting responsibility away from some and onto others.

The responsible ones who paid their own loans, or who never borrowed, are now supposed to pay as well for OTHER people's loans... :roll:
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Re: A Solution to the Student Debt "Crisis"

Post by Blaine »

mickbr wrote: Tue Dec 28, 2021 7:44 am A lot of the 1st world has cheap tertiary education, loans in the thousands, not hundreds of thousands by the time they graduate..
The price of education, like medical treatment in the US makes no sense. In Australia the anti-venom for the tiapan the worlds deadliest snake, is free. In the US for rattlesnake it can cost thousands. The antivenom in either case only costs a few bucks. The whole thing makes no sense by any economical model or standard.
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Scott Tschirhart
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Re: A Solution to the Student Debt "Crisis"

Post by Scott Tschirhart »

I don't know why this is a "crisis" at all.

Folks went into debt with their eyes wide open. It is up to them to put on their big boy/girl pants and go to work and pay what they owe.

Making bad decisions and the consequences that naturally flow from those decisions causes people to learn to make better decisions.
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Re: A Solution to the Student Debt "Crisis"

Post by jeepnik »

Can’t say anyone I went to high school with went into excessive debt earning a degree. Our parents taught us not to.

This crisis seems to be recent and probably caused by parents giving their kids everything they want and not teaching them financial responsibility.

Perhaps bankruptcy will teach this lesson severely enough that this generation will teach their kids better. Government bailouts do nothing but reinforce what these kids parents have already taught them.

Simple fact is, unless you work for something you really won’t appreciate it. This is another lesson many youngsters were never taught.
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Re: A Solution to the Student Debt "Crisis"

Post by Scott Tschirhart »

That's part of the problem. Bankruptcy will not discharge student loan debt. Otherwise we would see a lot of bankruptcys.
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Re: A Solution to the Student Debt "Crisis"

Post by Ysabel Kid »

Scott Tschirhart wrote: Fri Dec 31, 2021 9:43 am That's part of the problem. Bankruptcy will not discharge student loan debt. Otherwise we would see a lot of bankruptcys.
Nor should it.

I am not aware of any college that forces anyone to go to school at their facility, take out loans, or especially major in anything worthless with no market value (like almost everything that ends in "Studies"). Why should those who chose to go to a school they could afford, and/or get a marketable degree, or more so - those who chose NOT to go to college have to cover the debt of someone so stupid as to rack up six figures of debt for a glorified hobby?!? :evil: :evil: :evil:

Sorry, this one gets me really hot. Mrs YK and I saved our whole lives to put our kids through college (undergrad). Wanted them to start their adult lives debt-free. So now we are suckers?!? :evil: :evil: :evil:
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