Student Loans

[Monello]

Who said anything about penalizing those who did it correctly?

.

If you don't hold everyone accountable then those that get a pass benefit while those that paid their loans are disadvantaged.

I had a neighbor that went into foreclosure. We moved in around the same time. Fast forward a few decades. My mortgage is retired. Neighbor owes twice what he paid for the home originally. He was using the home as a piggy bank and kept taking out new financing and pocketing the cash. 2007 rolls around and he gives the keys back to the bank. Dude walks away with a 6 figure loan forgiven. The bank isn't getting that money back.

 

[Larry Gude]

.

If you don't hold everyone accountable then those that get a pass benefit while those that paid their loans are disadvantaged.

I had a neighbor that went into foreclosure. We moved in around the same time. Fast forward a few decades. My mortgage is retired. Neighbor owes twice what he paid for the home originally. He was using the home as a piggy bank and kept taking out new financing and pocketing the cash. 2007 rolls around and he gives the keys back to the bank. Dude walks away with a 6 figure loan forgiven. The bank isn't getting that money back.

So? How did this disadvantage you, in any way?

In the mean time, he's put how much money into the economy? And you've put how much into it?

How did this harm you, in any way? Hell, guys like him are where the money comes from for people like your kid to take advantage of a good gummint program. It sure doesn't come from tight wads and spend thrifts. :shrug:

 

[Monello]

And that's awesome and great for him and we've had this discussion; if everyone were that wise, took good advice, followed that path, it would not, could not work. You don't make policy for the winners, for the smartest. You make it for the masses. The winners, the smart folks do well off the largess and waste of the masses.

But it's a viable option for many. Ask around of those who are buried under a mountain of student load debt if they could do it over again would choose this path.

 

[glhs837]

Anytime the government throws easy money at something, the prices go up.
Think easy mortgages...housing prices skyrocketed
Think low interest rates....stock market bubble
Think easy student loans....tuition goes up.....

Oh, I know why colleges jacked up the cost. I suppose I should have phrased it better. "Where in the costs of a college education can fat be trimmed?".

 

[Larry Gude]

But it's a viable option for many. Ask around of those who are buried under a mountain of student load debt if they could do it over again would choose this path.

Then, lets make a deal; let those kids have a choice, a do-over. In exchange for writing off their debt and having a worthless degree, they get to go do Nat Guard or something of the kind.

 

[Larry Gude]

Oh, I know why colleges jacked up the cost. I suppose I should have phrased it better. "Where in the costs of a college education can fat be trimmed?".

Everywhere.

And nowhere.


First of all, 'trimming a little fat' is meaningless in the grand scheme, agreed? Any trimming large enough to make a difference would necessarily then harm those living off the fat and then what to do with THEM?

 

[glhs837]

Everywhere.

And nowhere.


First of all, 'trimming a little fat' is meaningless in the grand scheme, agreed? Any trimming large enough to make a difference would necessarily then harm those living off the fat and then what to do with THEM?

No, not everywhere. Look at educator salaries vs inflation. Then look at tuition costs vs inflation. So, not everywhere. And what do you do with the army of laid off meaningless hanger-ons that infest schools? Simple, same thing you did with buggy whip salesmen. Let them find something else to do. I don't know, scrape poo off of the statues, edge the walkways, carry pollen from plant to plant. anything, which would be infinitely more productive to society than contributing to the bloat that makes an education so much more expensive than it needs to be.

http://www.nytimes.com/2015/04/05/o...eason-college-tuition-costs-so-much.html?_r=0

 

[Grumpy]

Let them find something else to do. I don't know, scrape poo off of the statues, edge the walkways, carry pollen from plant to plant. anything, ....

Take the illegal's jobs, eh?

 

[glhs837]

Take the illegal's jobs, eh?

And a gold star for Grumpy, good one.

 

[Clem72]

So? How did this disadvantage you, in any way?

In the mean time, he's put how much money into the economy? And you've put how much into it?

How did this harm you, in any way? Hell, guys like him are where the money comes from for people like your kid to take advantage of a good gummint program. It sure doesn't come from tight wads and spend thrifts. :shrug:

Well, it probably didn't help his property values.

 

[Gilligan]

I guess I should have taken out a student loan. I feel left out.

 

[Grumpy]

I guess I should have taken out a student loan. I feel left out.

You can always apply now, if they turn you down, you can sue for age discrimination.

 

[PeoplesElbow]

Then, lets make a deal; let those kids have a choice, a do-over. In exchange for writing off their debt and having a worthless degree, they get to go do Nat Guard or something of the kind.

FYI that option is already available, has been since at least 1997.

 

[Gilligan]

You can always apply now, if they turn you down, you can sue for age discrimination.

 

[PeoplesElbow]

Everywhere.

And nowhere.


First of all, 'trimming a little fat' is meaningless in the grand scheme, agreed? Any trimming large enough to make a difference would necessarily then harm those living off the fat and then what to do with THEM?

As an avid member of the alumni advisory committee for my school I know first hand that what gets trimmed is usually things like the grounds keeping crew instead of the social justice office employees, the janitors instead of the full time financial aid workers etc.

Professor salaries, at least at large research universities, are usually subsidized substantially by research dollars that professors are required to pull in, so many more or less are self supporting. My research adviser brought in enough to pay for two post docs, a PhD student, and four masters students back when i was one of the masters students. Interestingly enough he was also chair of the faculty senate and we use to have many discussions about their meetings, he use to constantly complain about the liberal arts departments being funded by money the engineering and medical school brought in.

 

[getbent]

I think student loans are a good thing, I used them to partially pay for college, started paying them off when I was in graduate school because I was getting paid as a grad assistant to be there. After I got my graduate degree and went out in the world I actually had a credit rating where I could buy a car house etc from simply paying my student loans. I had my loans all paid off within 5 years of being out in the world. I went to buy a house and had over an 800 fico score all thanks to student loans.

The problem is we feel the need to teach algebra in grade school but no life math. I have tried to teach intelligent people with college degrees how to amortize a loan, figure out compound interest etc. This is something that easily should have been taught in their public education.

My ole lady's college had all freshman take a class just like that, they had to do household budgets, submit an inventory of things they bought etc.

My daughter is a Senior in H.S. She is taking a class that includes this now.

 

[glhs837]

And sadly, that should be a H.S. class. Would be nice to blame it on parents today, but I know mine didn't teach me didly about actually doing such things back in the late 70s.

 

[getbent]

And sadly, that should be a H.S. class. Would be nice to blame it on parents today, but I know mine didn't teach me didly about actually doing such things back in the late 70s.

My parents didn't teach me anything either. They were not good money managers anyways. I'm better, but not great.

 

[Larry Gude]

As an avid member of the alumni advisory committee for my school I know first hand that what gets trimmed is usually things like the grounds keeping crew instead of the social justice office employees, the janitors instead of the full time financial aid workers etc.

Professor salaries, at least at large research universities, are usually subsidized substantially by research dollars that professors are required to pull in, so many more or less are self supporting. My research adviser brought in enough to pay for two post docs, a PhD student, and four masters students back when i was one of the masters students. Interestingly enough he was also chair of the faculty senate and we use to have many discussions about their meetings, he use to constantly complain about the liberal arts departments being funded by money the engineering and medical school brought in.

Interesting.

What did he think about that relationship, being a teacher, a professor coupled to the need to make sales, so to speak?

 

[getbent]

I guess I should have taken out a student loan. I feel left out.

It's ok. You can have mine. It's brand new. Only 1 payment made so far