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CU Guru [1907]
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Why oh Why
Jun 1, 2019, 7:55 PM
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Can someone explain why in every cry baby article on student debt they manage to use quite possibly the dumbest people on the face of the planet? These clods elicit absolutely little to no sympathy and could be poster children for the walking brain dead. Stupid is not a reason to receive a get out of debt card,
https://www.cnn.com/2019/06/01/us/student-loan-debt-stories-trnd/index.html
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Oculus Spirit [93681]
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If they are good at law, science and healthcare...
Jun 1, 2019, 8:07 PM
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paying off their debt shouldn't be too much to handle. I say they are spending too much on housing, furniture and clothing than they should and they probably all drink snob beer in expensive bars and spent tons proving they are successful.
I agree with you Tiger1Dad.
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Legend [15749]
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Hear hear. This is pathetic. The first one went to Emory to get
Jun 2, 2019, 10:19 PM
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a job she knew didn’t pay well. And this is our fault? This is ridiculous.
I got accepted to a highly-ranked Private University. My parents sat me down and we talked about the realities of going to a school like that versus a quality public school like Clemson for an engineering degree. I choose not to burden myself with that enormous debt. I then chose to get my MBA at a public university while I was working. It would have been so great for my ego to get that prestigious degree but I’m not a fool, and we weren’t set up for it. And my life has been significantly better for it.
So I will support cancelling their debt with my tax dollars when the debt cancellation program gives me a comparable check for making prudent financial and life decisions.
And also, you’re right...let’s include a full audit of their expenses along with these stories. Because FOR SOME (admittedly not for all) it’s not that the education that helped them follow their dreams was too expensive...and that’s they wanted that dream, fulfilling career and a nice car, or a place in the best neighborhood, etc. the one story talks about how they would prefer to use the $500 per month that the pay in student loans to pay down their mortgage. Well no $#&@. Wouldn’t we all? But guess what? You have student debt, so you can’t. And why stop there? Once you pay off student debt that you freely accepted to get your dream job, why should you have to pay for a mortgage that’s too much? You’re an epidemiologist working on antibiotic resistance. They should be paying you to live in their neighborhood.
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Oculus Spirit [93681]
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There was a time when high school graduates were...
Jun 3, 2019, 6:50 AM
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well enough educated to have good lives. When the educational system failed to educate kids before they graduated that influx of great numbers of dumb people with diplomas has created a nation full of grads who are not competent to follow directions and feel they are worth $15/hr anyway.
Nothing changes for them when they decide to continue their life of lacking education by attending Universities which do more baby sitting than educating. Buyers remorse is a real nightmare for them when they realize they got screwed by the gov when they got themselves head over heels in debt.
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Hall of Famer [21614]
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High Schools are the biggest point of failure in my opinion. (these days)
Jun 4, 2019, 12:51 PM
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Colleges are having to dumb themselves down to make up for the general failure of high schools to prepare kids in critical thinking and personal responsibility. (Reading Comprehension and Writing are two huge failures as well.) Also kids don't learn an actual history until college. History classes before college are almost always worthless.
Don't get me wrong, elementary schools and middle schools are jacked up too.
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Oculus Spirit [93681]
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You'd think that throwing money at problems in education...
Jun 4, 2019, 1:45 PM
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would be successful by not if that was the solution. It turns out that college was more beneficial when it was much less expensive. Elementary and high schools were much more successful before the expansion of federal involvement.
The concept that government can fix everything displaces the concept of natural forces rewarding and pushing poor preparation and behavior. Do wrong, no problem the gov will fix it. Want more, give the gov more power and you'll get more for it. Remove all accountability of self at the sacrifice of one's own authority.
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Hall of Famer [21614]
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We agree. Sorry.***
Jun 4, 2019, 2:06 PM
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Heisman Winner [119748]
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It’s no different than a McDonald’s worker
Jun 1, 2019, 8:09 PM
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Buying a Ferrari....
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Oculus Spirit [93681]
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It's a bit difference.
Jun 3, 2019, 6:52 AM
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You can sell a Ferrari and recupe most of your money. Selling one that's two years old is gonna leave a financial mark but it will nearly get you out of debt.
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Legend [15492]
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Re: Why oh Why
Jun 2, 2019, 1:22 PM
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Geeez...has it occured to you guys that higher education in this country shouldn't be so expensive?
An educated population only helps our economy, yet we allow the banks to take it over.
It's nuts.
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CU Guru [1907]
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Re: Why oh Why
Jun 2, 2019, 1:34 PM
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Sepearate issue Felix, you are better than that. These imbeciles wnet to Private Universites while borrowing money to do so, 100% stupid in fact. Your position is also why a University degree in many cases is worthless, too many now own them thus too many applying for same positions lower salary. Simple Econ 101. No we do not need more theater,history Art history, gender studies etc. grads as it just deludes the stu[pid in to thinking they are gonna get a great paying job. Even STEM in many cases have seen lower salaries due to way too many degrees. Just saying.
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Legend [15749]
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Oculus Spirit [83131]
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Students only use banks now if they’ve exhausted
Jun 2, 2019, 11:41 PM
[ in reply to Re: Why oh Why ] |
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their elig. by maxing out with the Direct Loan program through the govt.
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Oculus Spirit [93681]
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Yep.
Jun 3, 2019, 6:54 AM
[ in reply to Re: Why oh Why ] |
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That's what happens when demand rises for a product. It's so easy to get into college now and everyone qualifies for a gov loan to attend. It's like they don't appreciate money.
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Oculus Spirit [83131]
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Much easier to get in back in the day.***
Jun 3, 2019, 3:00 PM
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Oculus Spirit [93681]
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You're not referencing the money to attend?***
Jun 4, 2019, 2:02 PM
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All-In [31907]
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I agree the cost of higher education is out of hand....
Jun 4, 2019, 8:01 AM
[ in reply to Re: Why oh Why ] |
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but I hear very few people talking about THAT. The talk seems to almost always be about debt levels, while avoiding the underlying issue.
Those issues to me are: - public universities are way too expensive - the expectation for student standard of living is too high - the expectation for new/modern facilities is unrealistic - the federal government (not really banks as you mentioned) have made funds too easily available with not enough tests on estimated post-graduation income of the degree being pursued - Not everyone needs to go to a prestigious university to pursue their desired career - it is ok to take time between HS and college to save up money - it is ok to work while in school and take longer to graduate
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Orange Blooded [3520]
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The sanctimony runs deep with this one...****
Jun 3, 2019, 8:29 PM
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CU Guru [1405]
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Re: Why oh Why
Jun 3, 2019, 9:26 PM
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What's always amazing to me is not the idiots who are in over their head in debt, it's the dolts who don't realize it's going to affect them.
Honestly, if you have a basic understanding of finance and economics and don't realize how student loan debt hurts even those who carry no student loan debt, you're a pretty dim bulb.
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Legend [15749]
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I’m a dolt. Educate me.
Jun 3, 2019, 11:29 PM
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How am I better off with a debt forgiveness plan than with a situation where people who take on massive amounts of debt unnecessarily have to pay their debts? Maybe you can explain which plan makes me better-off as a non-debtor?
And does the answer to this question take into account the impact of just eliminating freely-accepted debts moving forward? How do you do that without perpetuating the program? I guess that’s why most of the Democrat candidates support free public college?
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CU Guru [1405]
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Re: I’m a dolt. Educate me.
Jun 4, 2019, 3:17 PM
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Where did my post address debt forgiveness?
Anyway, it should be obvious that the public holding over a trillion dollars in debt is not ideal. That money could be doing much more to stimulate the economy. I'm not really going to go in depth about how people having more disposable income is good for you, because it seems self explanatory.
There's also what it does to housing. Someone may want to buy the house next door to you. They apply for a loan and on the loan paperwork, disclose that they pay $225 per month on their student loans. However, they pay that based on a payment plan that must be renewed every year, so it may not be 225 next year. So the bank must base the amount they pay on what the payment would be with no payment plan. That theoretical payment is $1600 per month.
So that person is denied for a mortgage based on a payment he doesn't make.
Congress could massively spur the economy by making reasonable 5, 10, or 20 year locked in repayment plans.
They could also offer refinancing at lower rates. Some form of forgiveness (which already exists, so calm down) should be looked at as well. Most any borrower is already eligible for a plan to make 240 regular payments and then have the balance forgiven. That period could be shortened.
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Legend [15749]
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Sure, it would be great if the country won the lottery
Jun 4, 2019, 8:32 PM
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And used it to pay off all of our student debt. Or any debt. But that’s not what anyone is talking about. They are talking about taking responsible peoples money to pay off irresponsible people. And that’s awful.
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CU Guru [1405]
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Re: Sure, it would be great if the country won the lottery
Jun 4, 2019, 9:29 PM
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Lol even if every loan were forgiven, the government wouldn't take any money from you, they'd borrow it.
And your post didn't address my post in the slightest. Why are all of you so uninterested in having a discussion about this?
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Legend [15749]
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Taking money from my son does not make me feel better
Jun 4, 2019, 10:55 PM
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about it.
What was I supposed to address that I didn’t? I think we are in agreement that if restructuring helps people with large loans pay off their debts, it should be explored and possibly implemented. I don’t want people to be buried or their lives ruined. But it was, ultimately, their bad choice. I think we disagree on the value or righteousness of debt “forgiveness”. I do not support such programs.
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Hall of Famer [21614]
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So, I went to a school I could afford. And the only reason I
Jun 4, 2019, 12:47 PM
[ in reply to Re: Why oh Why ] |
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chose to go to Clemson for grad school is because they paid me. Otherwise, being a sentient being, I would have chosen a cheaper option, of which there are plenty.
Going into debt does frequently involve personal responsibility. So, the popular narrative (obviously designed to court young voters) that college debt is a purely systemic and social failure that requires socialism to fix it...is a farce.
I had lots of student debt from college (still paying it off actually) because I decided not to work that much and not to give myself a spending budget in school. Had I made different decisions, I could have it all paid off by now.
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CU Guru [1405]
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Re: So, I went to a school I could afford. And the only reason I
Jun 4, 2019, 3:07 PM
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None of this addresses my post at all, but thanks anyway.
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Hall of Famer [21614]
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So you are not interested in how to tackle the issue?
Jun 4, 2019, 4:52 PM
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You are merely interested in people complaining about the article being aware that student debt will affect them also.
What an insightful and relevant post.
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CU Guru [1405]
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Re: So you are not interested in how to tackle the issue?
Jun 4, 2019, 9:30 PM
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Lol. Immediately after I post detailing my ideas for a good starting point to tackling the issue, you post something whining about me not giving details. You're such a weird guy.
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Hall of Famer [21614]
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Live footage of CNN opinion piece being written...
Jun 4, 2019, 12:39 PM
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Replies: 28
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