WhippingBoy: e.g. If you really, really want that Gender Studies degree, you can pay for it on your own dime
dukeblue219: I know it sucks, but who would make a student loan that was dischargeable in bankruptcy? You'd have ten million students every year graduating with $160,000 in student loans, no assets, no income, and immediately declaring bankruptcy to get out of it. In a sense, no bank would ever loan that much money unsecured at a reasonable interest rate, unless the collateral is your future earnings.//That's my understand of why that's how it has to be. Am I wrong?
WhippingBoy: The answer is simple:- subsidize tuition in order to reduce the frequency/need for student loans- allow student loans to be absolved through bankruptcy- provide other means/ways/mechanisms to promote an educated populationHowever, in order to qualify for this program, as a student, you need to:- present what essentially amounts to a "business plan" in order to qualify for a loan: - show how you intend to pay it back - justify your degree in terms of return on investment - research the "employability" of your degree - present a year-by-year plan including such things as expected income, loan repayment schedule, etc.- require that you maintain a certain GPA, or you revert back to the "old" systemWhat this will do is:- ease the way for people who actually plan for their future, and are serious about college- dissuade people from going to college for the sake of going to college- dissuade people from racking up massive amounts of debt in order to obtain an obviously useless (in terms of ROI) degreee.g. If you really, really want that Gender Studies degree, you can pay for it on your own dime
FarkedOver: Take to the farking streets.
Mikey1969: Because the reason that anyone can get a student loan is that the banks know it can't be discharged thru a bankruptcy.If you're "drowning" in student loan debt, you're doing it wrong. I have never had a loan where it was so easy to put off payments. Forbearance or deferment, all I have to do is call, and i can get 6 months of not paying and not having it reflect negatively on my credit. Try that with a house, I've gotten forbearances for 2 straight years before.You don't like to be "drowning" in student loan debt? Then pay your own way through college. Seriously, I don't understand how people can't figure out this One Weird Trick...
fortheloveofgod: FarkedOver: The "evil" loan and the cost of education are hand in glove. They are both actors on the same stage performing for the same outcome; profit at the expense of those least likely to afford it. I understand this is the nature vampiritic nature of capitalism, which is why I have become increasingly more anti-capitalistNow I understand.
FarkedOver: You won't get change from a ballot box
HipsterTrash: Fark all of you, I make money to go to College. 1500 a month from the GI Bill for Active Duty service and 100% tuition is paid by my States National Guard. If someone wants to go to school for free there are ways to do it. You have to work to do it though, I know that all you liberal farking turds don't want to that though.
what_now: WhippingBoy: e.g. If you really, really want that Gender Studies degree, you can pay for it on your own dimeExcept that liberal arts students are getting better jobs out of college because they are the only discipline that teaches critical thinking.Every time someone says "You should get X degree" I cringe because I recognize that we will hit market saturation of those degrees.E.g: Law Degrees.
PluckYew: Why are your posts being deleted?
PluckYew: FarkedOver: tenpoundsofcheese: You actually believe that no one ever moves from one class to another? That is a stupid statement, even for you.Statistically, you die in the class you are born.PluckYew: Your disparaging comment about 'factory workers' indicates to me you think those jobs are beneath you.There are shortages of qualified applicants for good paying blue collar jobs that don't require a 4 year degree. You're probably too smart for any of them right?Wasn't disparaging at all. I'm sorry I made you clutch your pearls in outrage though.And I encourage as many people as I can to take up a trade rather than going to college. But what happens when the blue collar fields are all filled? Do we just keep going from one bubble to the next?I'm sorry you hate that people go to college instead of being factory employees just smart enough to work a machineWillfully ignorant or just stupid?I don't hate that people go to college, I hate that everyone is conditioned to believe that going to college is the only way to achieve prosperity. I went to college, I've worked in trades. I have moderate student loans, that I am PAYING which is what this thread was about.Losers who've incurred debts they can't afford to pay back because they've been conditioned by their guidance counselor or some other 'authority figure' to believe it's the only way to get ahead.There are many paths to prosperity in this country, if you can't see that then you should probably consider moving to some place like Best Korea, you'd probably find it to be Shangri-La.
Nana's Vibrator: WhippingBoy:This is what liberal arts students tell themselves in order to sleep at night. Unfortunately, it's complete twaddle.Most useful degrees require that you take a fair amount of liberal arts electives. For example, in order to obtain my engineering degree, I essentially had to take the equivalent of 2 1/2 years of liberal arts credits. Liberal Arts are condiments, not the main course.Whatever, dude. You might have spent countless hours studying metals or plastics or mechanics or whatever. If you're an engineer by trade right now, you're probably using about 5 hours per month on what you learned in college and the other 155+ hours per month chasing drawings or change orders or faulty production lines or machines or tolerance stackups because someone else never bothered to do it. Sorry to single you out, but even science or technical degrees are 95% "twaddle". Yes, it's that 5% that got you a job, but the bigger picture is the farce of a 4 year degree where afterwards we have careers and apply our degree in the most minimal of situations. That's what makes it twaddle./I'm a people person. I talk to the engineers!//I have a "science" degree and am disillusioned by the lack of connection between education and application.
fortheloveofgod: If you couldn't afford the debt, then no, you never should have gone to college. You're looking for the answer in the wrong place. The evil is not in the loan, the evil is in the high cost of education. If education was priced at a reasonable level, the loan you had to take out would have been much smaller. Get to the root cause - the price of the education, not that evil loan that YOU agreed to.
FarkedOver: fortheloveofgod: Or, you could not have taken out the loan if you didn't agree with its terms.Good idea. I should never have went to college. WHO CARES that almost every job offer says "4 year degree required."
stuff: So, it is assumed you were smart and knowledgeable enough to know exactly what you were getting into, and the debt was completely voluntary.
fortheloveofgod: Or, you could not have taken out the loan if you didn't agree with its terms.
AccuJack: dukeblue219: dukeblue219: That's my understand of why that's how it has to be. Am I wrong?I guess I should have RTFA first because it covers what I just said. Oh well.Reality check: This is *Fark*. You're posting a response to the headline for an article without reading it.Would you post internet reviews of cars based on the font used to write the text surrounding one picture of the car in an article online if the picture was photoshopped to look like it was in a funny location?Seriously, re-evaluate your logic process here. RTFABR (before reply/response).
Chinchillazilla: AccuJack: If you don't know you want to go to college enough to pick something to study, then wait to go until you do know what you want.Jesus, I wish someone had told me this in high school. I told my dad I wanted to wait and get my shiat together before I went to college, and he got all disappointed and judgmental, so off I went. Went for two and a half years before crippling anxiety and depression, stemming from not knowing what I wanted to do with my life, made me drop out. Now I have student loan debt and no degree. Awesome.
brilett: Why did we bail out the auto makers but not the city that spawned them?
thurstonxhowell: what_now: Except that liberal arts students are getting better jobs out of college because they are the only discipline that teaches critical thinking.Hard science degrees don't teach critical thinking? *cough*Bullshiat*cough*
MythDragon: FarkedOver: Because students and other people saddled with student load debt do not have the balls in this country to stand up for what they farking believe in. Take to the farking streets. Make them hear you. You won't get change from a ballot box and you want get change from either major party.[i1239.photobucket.com image 800x625]
Tatterdemalian: Because if they did, the universities would go belly up within a decade, and everyone would blame the banks for "predatory student loans."
FarkedOver: Because students and other people saddled with student load debt do not have the balls in this country to stand up for what they farking believe in. Take to the farking streets. Make them hear you. You won't get change from a ballot box and you want get change from either major party.
what_now: Except that liberal arts students are getting better jobs out of college because they are the only discipline that teaches critical thinking.
Limp_Bisquick: It would be a moot point if secondary education was affordable.
AccuJack: As they *should*. Everyone has a right to pursue a college education. Not everyone should go, even those who can afford it. If you don't know you want to go to college enough to pick something to study, then wait to go until you do know what you want. Or go somewhere else like a technical school for post secondary study. Really, we need more trade schools that are cheaper/easier to get into in the US, and less 4 year colleges designed for only recent high school graduates to attend.
vernonFL: Because bankruptcy is an extreme last resort and most people would rather do everything they possibly could before declaring bankruptcy over student debt?
dukeblue219: I know it sucks, but who would make a student loan that was dischargeable in bankruptcy? You'd have ten million students every year graduating with $160,000 in student loans, no assets, no income, and immediately declaring bankruptcy to get out of it. In a sense, no bank would ever loan that much money unsecured at a reasonable interest rate, unless the collateral is your future earnings.
outdoorsman_jph: Student loans are a giant scam. Some of them have 10% origination fees, then charge you interest on top of this so you are paying interest on 110% of what you took out immediately. Compounding this over four years, you'll accrue over 43% of the value of the original 5k in interest. This part is usually left off of the financial aid paperwork or put in super small print. Also, given the state of mathematics education in this country, compounding interest is probably above the skill set of the average college student.
tommyl66: Because fark you, that's why.
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