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Joined: Aug 2005
Posts: 10,729
Campfire Outfitter
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Campfire Outfitter
Joined: Aug 2005
Posts: 10,729 |
I agree that the Feds should not be in the loan business. Especially to make money.........average interest rate on Parent Plus loans is over 7%. We still have some debt for helping 2 kids through college. Having the interest stopped for the last 7 months has helped us cut that dept by 1/3. I would not be opposed to reducing the interest charged and phasing out Federal student loans all together over the next 10 years.
A true sportsman counts his achievements in proportion to the effort involved and fairness of the sport. - S. Pope
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Joined: Dec 2008
Posts: 8,845
Campfire Outfitter
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Campfire Outfitter
Joined: Dec 2008
Posts: 8,845 |
The government backing/guaranteeing of student debt is probably the single most responsible occurrence for the a) increase in the costs of higher education; and, b) the lack of "quality education". The forgiveness of the debt would be absurd and should never occur. Universities and universities alone should be the only entities which should guarantee student debt. If they want to do that, so be it. I think we would see a large change in the quality of the education provided. It wouldn't be immediate; but, in my opinion, it would be a necessary and unavoidable consequence/benefit. Then, the universities themselves could determine whether the risk of financing a degree in "Left-handed, Self-loathing Whiteness Studies" and other such absurdities were worth the cost based on the job market prospects for such recipients of said major and associated degree.
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“Montana seems to me to be what a small boy would think Texas is like from hearing Texans.”
John Steinbeck
ΜΟΛΩΝ ΛΑΒΕ
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Joined: Feb 2010
Posts: 17,927
Campfire Ranger
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Campfire Ranger
Joined: Feb 2010
Posts: 17,927 |
The next Covid package has $20M for Howard University.
Why just them I wonder?
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Joined: Feb 2012
Posts: 2,401
Campfire Regular
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Campfire Regular
Joined: Feb 2012
Posts: 2,401 |
I finished my degree last summer. I have student loan debt. I am not asking anyone to pay it back. That being said ,if it were to magically disappear, I could buy more beans, boots and bullets. You should have paid your way like I did but since you didn’t, you should settle your debts yourself. Your response to your debt says a lot about you. Your comment indicates your parents did you no favors...either by saving for your education or teaching you about dignity.
Fear the crabcat.
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Joined: Mar 2006
Posts: 1,711
Campfire Regular
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Campfire Regular
Joined: Mar 2006
Posts: 1,711 |
The folks needing penalized here aren't the students (stupid and misguided though they may be), it's the universities and the lenders. What's the best way to do that? What's the best way to ensure that the lending entities get hosed, and the universities have to jettison their useless social studies departments?
Step 1 is to make student loans dischargable by bankruptcy, starting today. That's a small step in the right direction.
Step 2 is to discharge all student loans, effective yesterday, with no taxpayer payout.
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Joined: Feb 2010
Posts: 17,927
Campfire Ranger
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Campfire Ranger
Joined: Feb 2010
Posts: 17,927 |
I finished my degree last summer. I have student loan debt. I am not asking anyone to pay it back. That being said ,if it were to magically disappear, I could buy more beans, boots and bullets. You should have paid your way like I did but since you didn’t, you should settle your debts yourself. Your response to your debt says a lot about you. Your comment indicates your parents did you no favors...either by saving for your education or teaching you about dignity. Obviously an art major.
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Joined: Mar 2005
Posts: 1,229
Campfire Regular
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Campfire Regular
Joined: Mar 2005
Posts: 1,229 |
I'm actually a 50 year old man. Went and finished my degree because I get an automatic 5% pay bump at work. With the raise the amount of money I borrowed would be made back in roughly 3 years. My wife and I figured the reward was worth taking out a small loan. I am positive my degree is pointless because I got it in criminal justice. I spent two years trying not to yell at children who think they understand what being a cop is from reading about it in a book. Now I ask those who made these ridiculous statements about my character and clearly didn't read what was posted: would you continue to send money to the bank if a loan you took out was paid off? Say some more stupid sheet about my upbringing and my parents. I love hearing the insights...
Last edited by dodge268; 11/24/20.
Two wrongs don't make a right, but three rights make a left....
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Joined: Feb 2013
Posts: 21,743
Campfire Ranger
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Campfire Ranger
Joined: Feb 2013
Posts: 21,743 |
Part of the scam of higher education.
This will give schools the green light to charge even more.
College will be required to flip a McDonalds burger. There's a whole lot of robot technology coming down the pipe regarding menial labor jobs. I expected to be fully implemented once minimum wage gets to $50 an hour... or whatever the Democrats try to pull off. Obviously a $15 an hour minimum wage is it going to last long once the Dairy Farmers have to start paying their people a living wage and milk jumps to $25 a gallon or whatever. Y'all still expect lumber prices to come back down?
If you are not actively engaging EVERY enemy you encounter... you are allowing another to fight for you... and that is cowardice... plain and simple.
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Joined: Feb 2013
Posts: 21,743
Campfire Ranger
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Campfire Ranger
Joined: Feb 2013
Posts: 21,743 |
32 years ago a kinda relative and long time friend of my wife, and his wife, tried to borrow 150K to start an asbestos remediation business. They were turned down.. did it anyway, now making big bucks. Covid isn't hurting him, anyway. He normally runs a 15 man crew, has 18, needs 25 he told us. Can't get them because so many would rather sit home drawing "free money", than working. He starts them at $30/hour, with regular raises.
He told us that a job came up that he didn't want, so bid 3X his normal rate, and added 25% to that. He was the only bidder, so , as Cindy put it, they are working the "C crew" on that project That is her, him, and one of their sons, all of whom normally are not normally "working" crew, but admin and supervisors
Not too long ago that loan was approved at 1% interest because of Covid. 32 years. later.... They don'tt need it now, but took it. Knowing him, he's got it banked or invested, and making money off from "Covid" money he never asked for
And no, he is not a bullshitter. 100% believe that. Bidding a job in a sheithole like DC, Baltimore etc. is always a 3x OR HIGHER PROPOSITION.
If you are not actively engaging EVERY enemy you encounter... you are allowing another to fight for you... and that is cowardice... plain and simple.
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Joined: Feb 2013
Posts: 21,743
Campfire Ranger
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Campfire Ranger
Joined: Feb 2013
Posts: 21,743 |
Should’ve let them take out loans so they could get it for free. With that money and the money you saved on your NRA membership; you'd have almost a hundred dollars. My daughter’s a sophomore and her’s is fully funded at +/- $120,000 and my son is 14 and his is 3/4 funded at $90,000 through VA529 plans we’ve paid in to since they were born. When you work 70 hrs a week it’s what you can do. Or I could be like you and live in a shack with a blue tarp for “roofing”. Keep killin it and sending your $5 donation a year to the NRA. Wayne’s laughing his ass off at your stupid ass. I respect the hell out of your work ethic. I've had that same work ethic my whole life. With God's grace and a whole bunch of good fortune I've been able to gets well ahead. I plan to throw the bitch in reverse now and see if I can get an EBT card from these sap-suckers. Doubtful, but I'm sure as hell going to try my best at not feeding these monsters.
If you are not actively engaging EVERY enemy you encounter... you are allowing another to fight for you... and that is cowardice... plain and simple.
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Joined: Feb 2018
Posts: 10,128
Campfire Outfitter
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Campfire Outfitter
Joined: Feb 2018
Posts: 10,128 |
Gee.....It's almost like they are buying future votes like they did in with the Welfare state.......Nah.......they wouldn't do THAT....
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Joined: Apr 2010
Posts: 20,683
Campfire Ranger
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Campfire Ranger
Joined: Apr 2010
Posts: 20,683 |
I'm actually a 50 year old man. Went and finished my degree because I get an automatic 5% pay bump at work. With the raise the amount of money I borrowed would be made back in roughly 3 years. My wife and I figured the reward was worth taking out a small loan. I am positive my degree is pointless because I got it in criminal justice. I spent two years trying not to yell at children who think they understand what being a cop is from reading about it in a book. Now I ask those who made these ridiculous statements about my character and clearly didn't read what was posted: would you continue to send money to the bank if a loan you took out was paid off? Say some more stupid sheet about my upbringing and my parents. I love hearing the insights... You beat me to the punch, any of us w a mortgage that all of a sudden the feds say “we’re paying that off for you, no strings attached “ Nah I’ll just keep paying, no thanks. I call bs
I'm pretty certain when we sing our anthem and mention the land of the free, the original intent didn't mean cell phones, food stamps and birth control.
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Joined: Sep 2011
Posts: 1,963
Campfire Regular
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Campfire Regular
Joined: Sep 2011
Posts: 1,963 |
I think that the biggest problem is that the colleges offer a s**tpot full of totally useless degrees. They need to get rid of the "women's studies" and all the other programs that are nothing but a platform for indoctrination, and get back to teaching courses that are useful and that cannot be done in a community college program, i.e., medicine, engineering, etc.
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