Would prefer a system where students are put on vocational / professional tracks according to their educational / aptitude testing (like in the Netherlands). These predatory for-profit schools that are still rampant in the U.S as many students haven't had much guidance about career paths. Most of these students are better served either by low-cost community colleges or entering the workforce directly.
It looks like the new economy is favoring freelancers more, so hopefully the allure of college wanes and young adults have more real choices at the end of their teenage years to prepare for their futures.
Topic: / (Read 2615 times)
Student loans is a beautiful way for the government to fuck themselves and their people just for the economy.
Instead of higher college fees, implement less fees so students can study with less pressure, study better and pay back their dues. A degree is important for jobs now, and if there are no job creators because they couldn't afford college, how fucked up can it be?
Instead of higher college fees, implement less fees so students can study with less pressure, study better and pay back their dues. A degree is important for jobs now, and if there are no job creators because they couldn't afford college, how fucked up can it be?
What are the requirements to get a student loan?
According to this link https://studentaid.ed.gov/sa/eligibility/basic-criteria1) Demonstrate financial need (for most programs)
2) Be a U.S. citizen or an eligible noncitizen
3) Have a valid Social Security number (with the exception of students from the Republic of the Marshall Islands, Federated States of Micronesia, or the Republic of Palau)
4) If you’re a male (you must register between the ages of 18 and 25)
5) Be enrolled or accepted for enrollment as a regular student in an eligible degree or certificate program;
6) Be enrolled at least half-time to be eligible for Direct Loan Program funds
7) Maintain satisfactory academic progress in college or career school
http://finance.yahoo.com/news/courts-rule-disabled-woman-living-120003566.html
Here's a reason to pay your student loans (in the US at least.) No one can escape the obligation, no matter how bad things get. If you stop paying the government will find a way to get it from you...unless of course you were the victim of some fraud.
Pay your debt people!
Here's a reason to pay your student loans (in the US at least.) No one can escape the obligation, no matter how bad things get. If you stop paying the government will find a way to get it from you...unless of course you were the victim of some fraud.
Pay your debt people!
http://finance.yahoo.com/news/heres-happens-stop-paying-federal-182800572.html
Here's an article on what happens when someone stops paying their student loans...in the US, anyway.
People talk about a student loan bubble, what would a student loan bubble bursting do? There's no asset on these loans so it's not like property or degrees will be seized. Some financing companies would be hurting. Student loan qualification requirements may increase for future borrowers. That's about it...am I overlooking something?
Here's an article on what happens when someone stops paying their student loans...in the US, anyway.
People talk about a student loan bubble, what would a student loan bubble bursting do? There's no asset on these loans so it's not like property or degrees will be seized. Some financing companies would be hurting. Student loan qualification requirements may increase for future borrowers. That's about it...am I overlooking something?
As an outisde to this probleme and I apology in advance if my reply is a little bit off topic but I still don't understand the business model of US colleges especially the 90% that are half decent and I'm relating to my self here since when I finished high school I decided to study abroad and the US was one of my consideration till I got the price quote and decided to go somewhere else.
So I'm wondering if American students that have the means can't they study outside of the US, here in Europe for example Public higher education is free or almost, or you need to do is pay for your living expenses which is much much lower than the costs of education in the US?
So I'm wondering if American students that have the means can't they study outside of the US, here in Europe for example Public higher education is free or almost, or you need to do is pay for your living expenses which is much much lower than the costs of education in the US?
you are right but people everywhere across the globe, but especially in usa due to their geographical isolation, have an irrational attachment to the country they were born on and dont even think about international schools let alone entertain the idea. theres this sentiment in usa that usa is the best and going elsewhere is not a good idea, stupid or whatever.
As an outisde to this probleme and I apology in advance if my reply is a little bit off topic but I still don't understand the business model of US colleges especially the 90% that are half decent and I'm relating to my self here since when I finished high school I decided to study abroad and the US was one of my consideration till I got the price quote and decided to go somewhere else.
So I'm wondering if American students that have the means can't they study outside of the US, here in Europe for example Public higher education is free or almost, or you need to do is pay for your living expenses which is much much lower than the costs of education in the US?
So I'm wondering if American students that have the means can't they study outside of the US, here in Europe for example Public higher education is free or almost, or you need to do is pay for your living expenses which is much much lower than the costs of education in the US?
The promise of a higher education resulting in higher wages still is partially true, that said it depends on what major you apply for and is somewhat of a contradiction, education costs have risen at a signifcant pace that outpaces potential wage gains in some majors which have a large influx of students but low job demand and it makes sense that those students would be unable to pay back their debts and collapse under it at some point in time, a good old lesson in economics is that once the money stops flowing easily to people who need the capital the demand drops and a collapse occurs, it would make sense to encourage students towards fields that have high demand and make those options more attractive.
That and college is the new high school, sought after for the purposes of even competing in the workforce other than the trades, that said prison statistics confirm that 90% of US criminals are below high school education so social and family dynamics help there can't commit that many crimes attending college besides the drinking games so it's interesting to observe, that said the government will stalk you worse than any other loan shark as it has a long committment with you
That and college is the new high school, sought after for the purposes of even competing in the workforce other than the trades, that said prison statistics confirm that 90% of US criminals are below high school education so social and family dynamics help there can't commit that many crimes attending college besides the drinking games so it's interesting to observe, that said the government will stalk you worse than any other loan shark as it has a long committment with you
Now imagine to pay $40,000 of your wasted years.. at a starbucks job just cause someone doesnt want you..
its at that point that you leave usa if you are smart and dont enjoy legalized slavery
Oh yeah, totally forgot something important.
You cant also discharge or claim bankruptcy college debt, to anyone who wants to fraud the system and try not to pay it off.
You cant also discharge or claim bankruptcy college debt, to anyone who wants to fraud the system and try not to pay it off.
actually yeah you can, just leave usa and dont come back, loleasy. you can even come back just dont do anything retarded like buy a house.
Legalized slavery is everywhere though, and it depends on the situation if youre willing to say fuck it lol.
As for leaving, id probably leave if the job is almost 90% yes, if its worth it like some people who are hiring in dubai being a cheff.
eg: take a culinary arts, then dubai job offer
Now imagine to pay $40,000 of your wasted years.. at a starbucks job just cause someone doesnt want you..
its at that point that you leave usa if you are smart and dont enjoy legalized slavery
Oh yeah, totally forgot something important.
You cant also discharge or claim bankruptcy college debt, to anyone who wants to fraud the system and try not to pay it off.
You cant also discharge or claim bankruptcy college debt, to anyone who wants to fraud the system and try not to pay it off.
actually yeah you can, just leave usa and dont come back, loleasy. you can even come back just dont do anything retarded like buy a house.
Well that was a huge education bubble waiting to happen. and like everything else if its the majority theres a bail out relief in some sense paying a discounted rate lol.
I mean if theres so many people going to get jobs but not enough companies to hire the supply and demand should be obvious. Esp, when you see documentaries saying the average debt is like $40,000 or something.
Now imagine to pay $40,000 of your wasted years.. at a starbucks job just cause someone doesnt want you..
I mean if theres so many people going to get jobs but not enough companies to hire the supply and demand should be obvious. Esp, when you see documentaries saying the average debt is like $40,000 or something.
Now imagine to pay $40,000 of your wasted years.. at a starbucks job just cause someone doesnt want you..
This is just the tip of the iceberg..
Quote
WASHINGTON (AP) — The federal government will erase much of the debt of students who attended the now-defunct Corinthian Colleges, officials announced Monday, as part of a new plan that could cost taxpayers as much as $3.6 billion.
This only applies to people who took out student loans to attend Corinthian Colleges -
Yea, that's exactly why it's just the tip of the iceberg. There are several other for-profit college scams out there just waiting to blow up. The fact that just Corinthian resulted in $3.6 billion in cancelled loans suggests the true scale of this catastrophe.
But it's not just the fly-by-night scam colleges involved in the student dept crisis, as the staggering figure of 7 million Americans in default on student loans suggests. As other posts have pointed out, tuition costs have skyrocketed in recent years, both causing and caused by unbridled predatory lending from crooked banks backed by a corrupt government. The high-paying jobs promised to students who took out these loans have not materialized due to off-shoring of "middle-class" jobs and the bank-instigated recession. So there are droves of unemployed college grads fighting over jobs wiping tables at cafes for minimum wage plus tips.
The student loan business in the US has turned into a major racket, and I can cite the sources that prove it if anyone wishes to contest my claim.
What other scams are out there? Don't call foul unless you have facts or even details of a hunch to support it.
I wouldn't say that student loans have become a racket, I have student loans, I earned the education they paid for and I've benefited directly from that education.
Here's how I see it, first, the availability of student loans increases the demand on education (because more people can afford to go), when demand goes up and supply stays the same it's reasonable to assume that prices (i.e., tuition) go up, which then leads to higher loan needs for future generations of students.
Students need to realize why they're going to school and weigh if taking out the loan is a good decision based on the degree they'll earn or pay they'll be able to command with that degree in hand. This thought process doesn't always happen, which leads to students with a lot of debt and a lack of commitment to education for career or a career that doesn't pay enough to pay off the debt.
Should this be the fault of the student/borrower or the fault of the University or the fault of the student loan company? Everyone will have a different opinion on this, but it's not really a racket as you claim.
Why should you refuse to pay your student loan bills?
If you agreed to take out a loan, you received the expected good that the loan was issued for, you should honor the deal - your obligation to pay the loan!
This story is about fraud. 99% of student loan holders did not become so through fraud...if you don't pay your student loans then you are just as bad as those that fraud others.
The real estate bubble burst, in part, because people bought homes they couldn't afford and when rates went up they couldn't afford to pay their loan. Instead of paying up they walked away from them. Those people, I hope, are kept from getting a home loan for a very, very long time.
If you agreed to take out a loan, you received the expected good that the loan was issued for, you should honor the deal - your obligation to pay the loan!
This story is about fraud. 99% of student loan holders did not become so through fraud...if you don't pay your student loans then you are just as bad as those that fraud others.
The real estate bubble burst, in part, because people bought homes they couldn't afford and when rates went up they couldn't afford to pay their loan. Instead of paying up they walked away from them. Those people, I hope, are kept from getting a home loan for a very, very long time.
Student loans, at least in the UK, aren't like normal loans though. They are incentivised so that people are willing to take them and enter higher education.
I am still paying off mine, and I don't think there is a bubble in the UK, but I would assume that America does it like a normal loan, thus screwing over anyone who wants to go to college without rich parents especially those who graduated after the recession so can't find a job!
Why should you refuse to pay your student loan bills?
If you agreed to take out a loan, you received the expected good that the loan was issued for, you should honor the deal - your obligation to pay the loan!
This story is about fraud. 99% of student loan holders did not become so through fraud...if you don't pay your student loans then you are just as bad as those that fraud others.
The real estate bubble burst, in part, because people bought homes they couldn't afford and when rates went up they couldn't afford to pay their loan. Instead of paying up they walked away from them. Those people, I hope, are kept from getting a home loan for a very, very long time.
If you agreed to take out a loan, you received the expected good that the loan was issued for, you should honor the deal - your obligation to pay the loan!
This story is about fraud. 99% of student loan holders did not become so through fraud...if you don't pay your student loans then you are just as bad as those that fraud others.
The real estate bubble burst, in part, because people bought homes they couldn't afford and when rates went up they couldn't afford to pay their loan. Instead of paying up they walked away from them. Those people, I hope, are kept from getting a home loan for a very, very long time.
This is just the tip of the iceberg..
Quote
WASHINGTON (AP) — The federal government will erase much of the debt of students who attended the now-defunct Corinthian Colleges, officials announced Monday, as part of a new plan that could cost taxpayers as much as $3.6 billion.
This only applies to people who took out student loans to attend Corinthian Colleges - and if you did, you'd know about this plan already. This the ONLY case of "sub-prime" student loans. Calling it sub-prime is pretty misleading too, because the fraud has nothing to do with the creditworthiness of the borrower, but that the College lied about a lot of it's ability to make people employable after school, which is kind of a major factor in repaying student loans.
Don't stop paying your student loans, they'll always be there until you pay them off.
Why are most student's having trouble paying loans when at the time they looked into going to school they all were told this move would improve their lives because of a better job that will pay way more which says you can pay for the loans because you will be making more money with your new job skills? Baloney!! It's pretty common knowledge that most of these school's and their programs are a joke. It's all about the money and the Gov knows these school's are taking everyone for a ride, but they are dragging their feet as usual in doing anything about it.
Student debt is the next big bubble burst. University prices across the board have been inflating at astronomical rates, and people have to pay it. They need a degree to get a job in this crappy job market. The thing that really pisses me off is that once again the average person is both f'ed buy private individuals getting rich, and when the floor falls out once again the tax payer is left with the bill.
I think Jon Stewart said it best: In America we have socialism for the rich and capitalism for everyone else.
I am not surprised that the government is picking up the bill, but it is really unfortunate. Where is my bailout when my business goes belly up? Why do only super rich get backed by the government? It is just sad. These private universities, and their creditors, should have to take the loss on loan defaults. Plain and simple.
I think Jon Stewart said it best: In America we have socialism for the rich and capitalism for everyone else.
I am not surprised that the government is picking up the bill, but it is really unfortunate. Where is my bailout when my business goes belly up? Why do only super rich get backed by the government? It is just sad. These private universities, and their creditors, should have to take the loss on loan defaults. Plain and simple.
This is just the tip of the iceberg..
http://www.nytimes.com/2015/06/10/opinion/help-for-victims-of-college-fraud.html?ref=topics
http://www.huffingtonpost.com/2015/06/08/corinthian-loan-debt_n_7539122.html
http://www.nytimes.com/2015/06/10/opinion/help-for-victims-of-college-fraud.html?ref=topics
http://www.huffingtonpost.com/2015/06/08/corinthian-loan-debt_n_7539122.html
Quote
WASHINGTON (AP) — The federal government will erase much of the debt of students who attended the now-defunct Corinthian Colleges, officials announced Monday, as part of a new plan that could cost taxpayers as much as $3.6 billion.
As I understand it, it isn't really optional to pay off your loans, so you can try to pay back as little as possible, but can't just stop!
Shouldn't they just put a statute on it and say after 20 years they expire?
This is just the tip of the iceberg..
http://www.nytimes.com/2015/06/10/opinion/help-for-victims-of-college-fraud.html?ref=topics
http://www.huffingtonpost.com/2015/06/08/corinthian-loan-debt_n_7539122.html
http://www.nytimes.com/2015/06/10/opinion/help-for-victims-of-college-fraud.html?ref=topics
http://www.huffingtonpost.com/2015/06/08/corinthian-loan-debt_n_7539122.html
Quote
WASHINGTON (AP) — The federal government will erase much of the debt of students who attended the now-defunct Corinthian Colleges, officials announced Monday, as part of a new plan that could cost taxpayers as much as $3.6 billion.
What are the requirements to get a student loan?
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