If you can read this, either the style sheet didn't load or you have an older browser that doesn't support style sheets. Try clearing your browser cache and refreshing the page.

(ABC)   "What happens if I ignore my student loans?" For one thing, better get used to being bitten by federal dogs as you run for through some swamp at night when the feds come to collect. Pro tip: Urine is sterile and can be used to treat puncture wounds   (abcnews.go.com) divider line 109
    More: Interesting, student loans, Rhodes  
•       •       •

2985 clicks; posted to Business » on 07 Jun 2014 at 1:57 PM (11 weeks ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



109 Comments   (+0 »)
   
View Voting Results: Smartest and Funniest

First | « | 1 | 2 | 3 | » | Last | Show all
 
2014-06-07 10:50:51 AM
If you ignore it, it will go away.

/blow it off, kid
 
2014-06-07 10:58:42 AM
If I could move out of the States permanently, I'd bail on my graduate school loans. The program wasn't worth the money I paid for it.
 
2014-06-07 11:01:01 AM
There will be a day when Congress wipes out a portion of the student loan debt. It is keeping the housing sector from significant growth, and proving to be a detriment to the overall economy.

They'll offer some kind of deal the way that credit card companies do for discharged debt.

Of course, I've been concerned about this for a few decades, but Congress only acts after the disaster happens... if at all.
 
2014-06-07 11:06:03 AM

NewportBarGuy: but Congress only acts after the disaster happens... if at all.


That's not necessarily true. Sometimes congress actively causes disasters.
 
2014-06-07 11:10:50 AM

NewportBarGuy: There will be a day when Congress wipes out a portion of the student loan debt.


Before or after the banks are given full access to raid everyone's funds to help collect taxes 'for the IRS'?
 
2014-06-07 11:12:53 AM
You could just get at least a 2.0 GPA in high school and go to a state university for practically nothing. I mean it's not as prestigious as Everest U but what is?
 
2014-06-07 11:12:59 AM

Shostie: NewportBarGuy: but Congress only acts after the disaster happens... if at all.

That's not necessarily true. Sometimes congress actively causes disasters.


Heh...

How true is that.

Remember when they deregulated the mortgage industry so they could write loans to people with no income and no jobs? That was awesome.

I also remember that whole Iraq vote. "No, we're just sending a strongly worded letter to that Saddam guy." Bush Administration: "See! Now we have a legal reason to go to war! WOOOOO!"

Congress will only act if they can visibly see the economic damage to them, their business partners (donors), or enough people get elected who have had to deal with the staggering debt. That last one would take about 20 more years.

It's stupid not to just discharge some of the debt because the cost to taxpayers would be repaid through economic growth of people saddled with less debt. Housing would go up, wages would go up... But, you would have the problem of having to do it again in short order because people are still racking up debt on a daily basis.

I don't have the solution to the long-term problem... More trade schools that can be funded by the industries they would support? But the short term answer is to forgive some of the debt or give people a one time forgiveness amount contingent on purchaing a home or something.

There are options better than just ignoring it.

Congress? You're right. They'll do nothing or make it worse.
 
2014-06-07 11:13:54 AM

Mugato: You could just get at least a 2.0 GPA in high school and go to a state university for practically nothing. I mean it's not as prestigious as Everest U but what is?


I learned too late, but going to a community college for the Associates and then transferring is also a much better economic option.
 
2014-06-07 11:15:23 AM
This default is by design. Sallie Mae wants defaulters because the loans are guaranteed.

img.fark.net

And if there is any question as to where the money is going.

img.fark.net

Finally, here is what the Velvet Underground thinks about all influence peddling.
 
2014-06-07 11:22:05 AM

Mugato: You could just get at least a 2.0 GPA in high school and go to a state university for practically nothing. I mean it's not as prestigious as Everest U but what is?


Funny I went to two state schools and they still costed a hell of a lot. What do you consider practically nothing?
 
2014-06-07 11:34:19 AM

NickelP: Mugato: You could just get at least a 2.0 GPA in high school and go to a state university for practically nothing. I mean it's not as prestigious as Everest U but what is?

Funny I went to two state schools and they still costed a hell of a lot. What do you consider practically nothing?


I attended community college my first 2 years. Total debt: $0. Everything changed when I had to go to State and University. Cheap was out the door and debt followed... and every time I stopped because of work (supporting the family) and then went back to start again, the programs had changed. Which meant more classes. So I quit. F*ck that noise.

I long to return. But between the costs of classes (out of pocket) and the debt for my attempts, it is prohibitive.
 
2014-06-07 11:49:30 AM

Mugato: You could just get at least a 2.0 GPA in high school and go to a state university for practically nothing. I mean it's not as prestigious as Everest U but what is?


weknowmemes.com
 
2014-06-07 12:06:49 PM
I mean, I went to Penn State, and tuition a few years ago was 15,000 dollars a year. I worked, but the only jobs for undergrads are minimum wage, and I worked maybe 15-20 hours a week, so I needed to borrow money for rent and food. My student loan debt is not insignificant, even though I went to a public school.
 
2014-06-07 12:08:03 PM
You don't have to play the credit game, by the way. Run up your bill and live your life. Rent until you've saved enough money to buy a house outright. Probably cheaper than having a mortgage AND student loan bills.
 
2014-06-07 12:53:59 PM
Just get some guys on disability wearing Soldier of Fortune LARP gear to stand outside your apartment and talk about how your family has learnt stuff on that site before it was a university
 
2014-06-07 01:14:47 PM

Shostie: Mugato: You could just get at least a 2.0 GPA in high school and go to a state university for practically nothing. I mean it's not as prestigious as Everest U but what is?

[weknowmemes.com image 550x809]


God forbid anyone actually work during the school year.  WTF is wrong with people who think they can't handle a job and go to school at the same time?  12-15 credit hours is not a full time job, not even close.  If you can't manage to pull in some money while also covering class, then you must be functionally retarded or lazy.  There's no other explanation.  And that job won't cover all your expenses these days, but it will certainly cover some, which means you borrow less.
 
2014-06-07 01:29:48 PM

Lsherm: Shostie: Mugato: You could just get at least a 2.0 GPA in high school and go to a state university for practically nothing. I mean it's not as prestigious as Everest U but what is?

[weknowmemes.com image 550x809]

God forbid anyone actually work during the school year.  WTF is wrong with people who think they can't handle a job and go to school at the same time?  12-15 credit hours is not a full time job, not even close.  If you can't manage to pull in some money while also covering class, then you must be functionally retarded or lazy.  There's no other explanation.  And that job won't cover all your expenses these days, but it will certainly cover some, which means you borrow less.


It is all I've ever done and I still have loans. It isn't an easy problem/ solution unless we don't want certain people in certain income brackets going to University.
 
2014-06-07 02:17:35 PM

Mugato: I mean it's not as prestigious as Everest U but what is?


I've had just about enough of your Everest U bashing, young lady.
 
2014-06-07 02:30:31 PM
At the end of the day, Sam is going to get his money. IMO as an interim step, people should be able to refinance the debt to take care of these historically low interest rates. Of course, the interest charged on these loans would need to more accurately reflect the current environment.
 
2014-06-07 02:31:59 PM
FYI urine isn't actually sterile. Just in case that  issue come up or something.
 
2014-06-07 02:36:11 PM

KarmicDisaster: FYI urine isn't actually sterile. Just in case that  issue come up or something.


Came here to say this ...
 
2014-06-07 02:38:59 PM

Lsherm: Shostie: Mugato: You could just get at least a 2.0 GPA in high school and go to a state university for practically nothing. I mean it's not as prestigious as Everest U but what is?

[weknowmemes.com image 550x809]

God forbid anyone actually work during the school year.  WTF is wrong with people who think they can't handle a job and go to school at the same time?  12-15 credit hours is not a full time job, not even close.  If you can't manage to pull in some money while also covering class, then you must be functionally retarded or lazy.  There's no other explanation.  And that job won't cover all your expenses these days, but it will certainly cover some, which means you borrow less.


The income you get from the type of jobs that are typically available to students would barely a dent in the cost of college unless you're in-state and living with your parents. Factoring in time to/from work and the hit you're taking to your grades due to hours spent at work, an extra few thousand on the loan is a better option for a lot of people.

As for working through the summer - if you want a job after graduation you really need to intern at a company in your field, and if you're not going into finance or engineering that internship isn't paying you a dime.
 
2014-06-07 02:40:09 PM

Lsherm: Shostie: Mugato: You could just get at least a 2.0 GPA in high school and go to a state university for practically nothing. I mean it's not as prestigious as Everest U but what is?

[weknowmemes.com image 550x809]

God forbid anyone actually work during the school year.  WTF is wrong with people who think they can't handle a job and go to school at the same time?  12-15 credit hours is not a full time job, not even close.  If you can't manage to pull in some money while also covering class, then you must be functionally retarded or lazy.  There's no other explanation.  And that job won't cover all your expenses these days, but it will certainly cover some, which means you borrow less.


I worked during the school year, but it doesn't work out for everyone. Sometimes, it's hard to schedule work around classes, especially if you're in class from 8am till 5 or 6 in the evening. Then it is kinda like a full-time job.
 
2014-06-07 02:55:47 PM
They should offer to discharge the loans in exchange for lobotomies.

Knowledge isn't like the boat you cant afford or the car you cant afford.

They can take the boat and the car....you want them to take your knowledge?
 
2014-06-07 03:06:29 PM

NickelP


Funny I went to two state schools and they still costed a hell of a lot. What do you consider practically nothing?


Looks like you overpaid.
 
2014-06-07 03:34:07 PM

Giltric: They should offer to discharge the loans in exchange for lobotomies.

Knowledge isn't like the boat you cant afford or the car you cant afford.

They can take the boat and the car....you want them to take your knowledge?


Any chance we can lobotomize them before they take the loans?  Anyone signing up for 6-figures in school loan debt for a liberal arts degree immediately qualifies.
 
2014-06-07 03:39:50 PM

Mugato: You could just get at least a 2.0 GPA in high school and go to a state university for practically nothing. I mean it's not as prestigious as Everest U but what is?


In Colorado the in state tuition for the state college is over $9,000. Is that what'd you consider "practically nothing"?
 
2014-06-07 03:40:46 PM

NewportBarGuy: Mugato: You could just get at least a 2.0 GPA in high school and go to a state university for practically nothing. I mean it's not as prestigious as Everest U but what is?

I learned too late, but going to a community college for the Associates and then transferring is also a much better economic option.


I bought my kids college plans for exactly this. My friends: "why not just but the 4 year University option?" Ummm... Because it costs a good 33% more, two extra years they can't live at home and have to cover housing costs, and NO ONE GIVES A FLYING FARK where the first two years come from.


Hell, if you know you're going to do a masters, do all 4 years at a state college, and only go to university for the masters.

"You graduated with honors with a master's in blank from FSU? You're hired."
 
2014-06-07 03:47:38 PM

Lsherm: Shostie: Mugato: You could just get at least a 2.0 GPA in high school and go to a state university for practically nothing. I mean it's not as prestigious as Everest U but what is?

[weknowmemes.com image 550x809]

God forbid anyone actually work during the school year.  WTF is wrong with people who think they can't handle a job and go to school at the same time?  12-15 credit hours is not a full time job, not even close.  If you can't manage to pull in some money while also covering class, then you must be functionally retarded or lazy.  There's no other explanation.  And that job won't cover all your expenses these days, but it will certainly cover some, which means you borrow less.


When os the last time you've look at the cost of colleges? Textbooks alone cost $80-120, and they change editions nearly every year to killed used book sales.

A student working for minimum will earn enough for books, gas money and some meals. They will still be $10s of thousand in debt at the end.
 
2014-06-07 04:06:55 PM
Listen, and understand. That debt collector is out there. It can't be bargained with. It can't be reasoned with. It doesn't feel pity, or remorse, or fear. And it absolutely will not stop, ever, until you are dead.
 
2014-06-07 04:14:29 PM

AngryDragon: Giltric: They should offer to discharge the loans in exchange for lobotomies.

Knowledge isn't like the boat you cant afford or the car you cant afford.

They can take the boat and the car....you want them to take your knowledge?

Any chance we can lobotomize them before they take the loans?  Anyone signing up for 6-figures in school loan debt for a liberal arts degree immediately qualifies.


Meh - I'm sorry, but that just doesn't make sense.  I mean, really.....our whole society, our culture, our government and it's laws all fly in the face of such common sense.  We have entire rooms filled with books containing laws that are designed to protect people from things they'd otherwise agree to.  Can I sign myself into slavery?  Nope, because I might regret it.  Can I agree to work in dangerous conditions?  Nope - we have tons and tons of labor laws designed to protect me *from jobs I would OTHERWISE agree to do*.  What about food?  Come'on....we have a never-ending list of laws to prevent me from buying food that could be dangerous.  What about building codes?  Why can't you just build a house however you want, and hey - if someone buys it, it's on them to investigate how it was built and to know what makes a solid building, right?  What about health care?  Why can't I just go to my buddy Jake who totally knows some medicine stuff....because it's illegal.  You can't practice medicine without being qualified by the American Medical Association.  We have all sorts of laws about lending money - predatory lending laws, age requirements, and a whole bunch of laws for helping people who are in debt.  There are laws that dictate how much your wages can be garnished, and laws dictating bankruptcy and ALL of these laws are designed to protect people from things they would GLADLY AGREE TO.  We're making it illegal because, in the United States, we firmly believe that individuals are too stupid (or too close to the situation, however you want to say it) to decide things for themselves.

Except student loans?   What the hell?  What is so special about student loans.....

The entire process is controlled by the government, right?  It is.  You fill out paperwork that the government requires.  The university you are attending needs to be
accredited and determined 'a good investment' for the tax payers to subsidize your attendance, right?  If I went to a private modelling school and a bank lent me $350k to attend, and then I couldn't get a job - what would happen?  I'd shrug and the bank would sue me, and I'd declare bankruptcy.  So why is this different?

Someone is keeping their cake *and* eating it too.....and sure, you can blame the dumb kid who believed he could have a better life by going to school and doing everything everyone told him to do.  But this isn't the free market at work here - this situation is ENTIRELY because of the government.  We've created this mess.  Why are you blaming some dumb kid when we've had decades of our 'brightest' elected officials at the helm getting us to where we are today.

Why can I borrow money for a car at a lower interest rate than student loans for a graduate degree?  How can these students be considered high-risk borrowers, when they REALLY can't not pay?  Why *aren't* there sensible limits on borrowing?  Why is the government rubber-stamping these applications?  And what about the institutes of higher
learning.....we're told that they are so vital to our success as a country, that tax payers should subsidize anyone attending college....I mean, we all know they've been increasing tuition at astronomical rates, without any actual justification (beyond the fact that they know the students can borrow whatever amount they tell them to write down on the FAFSA)....but why aren't our students performing better?  You can do a quick Google, so I won't bother with links, but it's true.  Academic standards are *dropping* and have been for a long time.  Grade inflation is rampant.  And students graduating can't demonstrate any actual knowledge gained.

These colleges/universities are *supposed* to be maintaining high academic standards.  That's part of the deal.  The government doesn't just let student borrow 80k to attend 'Fark Guy Rob's Love Making 101 class' - they're supposed to be watching the schools.

We've got a systematic failing, across the board.  And it's been getting worse for decades, there is so much blame to go around....we've got a horrible, horrible, broken system....and it's ONLY possible because of a set of ridiculous laws.  The last company I worked for - the company was sued for failing to meet contracts/delivery dates.  It was a software company.  The company was FIFTY MILLION DOLLARS in debt, when the CEO announced we'd be declaring bankruptcy.  The CEO, I knew her personally, she lived in a 1.2 million dollar home (she had the company party there one year) - and her husband was a stay at home Dad.  All the money, it came from the company.  She spent 15 years running a company that existed by making promises, borrowing money, and she paid herself A LOT to do it.  The company tanked, 80% of the staff was laid off, and some big company came and bought it.  The CEO still has her 1.2 million dollar home.  She's still loaded.

Why do our laws allow *that*, but the dumb kid who loves art, who we spent 15 years telling to 'Go to College!', signs up for an 'art degree' at the local state school, who fills out the paperwork as instructed by the school's financial adviser, who was encouraged by his H.S. art teacher, who we approved to borrow the money, and surrounded him for four years in an institution designed to sell the idea that their paper was worth 150k.....why do we think he deserved a lifetime of indentured servitude?  The interest rates are such that, if you fall behind at all, you can't repay it.  It's like buying a house on a credit card.  The income based repayment options only allow interest to skyrocket and our 'forgiveness' programs all end with a tax bill of a few hundred thousand dollars.

So my CEO is on the beach on week after declaring bankruptcy..
Dumb Billy who likes to draw - he's going to pay based on his income, for 25 years, at which point (if he didn't miss any payments) he'll get a bill from the IRS for ~250k which is probably about what he borrowed in the first place.  Then the IRS can take whatever assets he's managed to build up.  Bye-bye house, bye-bye car, whatever they want, they'll take.  And then, if he can't cover it all, you've got late fees, penalties.  And best of all, the IRS/taxes can and does affect your credit score.  It could easily be 35 years before a student (who did what everyone said they should, with the full support of the US government and the University) can get a fresh start.  Figure he finishes school at 23 - well by 58 - when people should be considering retirement, Billy can get started on his post-college life.

But yeah - those damn students.  They are the problem.
 
2014-06-07 04:16:52 PM

jm105: Listen, and understand. That debt collector is out there. It can't be bargained with. It can't be reasoned with. It doesn't feel pity, or remorse, or fear. And it absolutely will not stop, ever, until you are dead.


Pfft, death just slows them down a bit.
 
2014-06-07 04:28:31 PM

beakerxf: When os the last time you've look at the cost of colleges? Textbooks alone cost $80-120, and they change editions nearly every year to killed used book sales.


I'd just like to point out that textbooks start at $80-120 each minimum. I bought the second edition of one textbook and it was clear they were trying to milk students for every bit they could get because the 2nd edition started with chapter 5. They took out 4 chapters and figured they would get even more money if they waited another edition to renumber the chapters. Dirtbags.
 
2014-06-07 04:37:34 PM
Fark_Guy_Rob: <Wall O' Text> "WHY do our laws allow that?

Because there's alot of money changing hands in order to ensure that.  You don't honestly believe that Congresspersons are making laws for the benefit of the citizenry, do you?
 
2014-06-07 04:38:56 PM
Ok, I'm not going to be a dick and say that you can get a free ride if you ... I'm just going to leave now.
 
2014-06-07 04:44:18 PM
The only change I could actually see happening is getting rid of the tax implications of writing off what you have left at the end of income based repayment.  I don't see debt forgiveness ever actually happening.  The sob stories that make for good articles of people borrowing six figures for non-proffesional degrees are the extreme minority.


With one exception, I don't have any sympathy for people who rack up huge debts going to school.  With the Internet it is extremely easy to find out the implications of what is being borrowed (and the sob story articles have been around for many years), anyone who wanted to limit their debt knows that the way to do that is to go to community college and then a state school while working.  Sure you'll still have debt if you do that, but it will be manageable and you'll graduate with a long work history.


The exception to that is people who are suckered in to for profit schools that don't have a realistic path to graduate and end up with tens of thousands of loans with no real education of improvement of their situation.  Those people deserve help.  People who borrowed $50k to get a BA from some mid tier private college don't deserve a penny.
 
2014-06-07 04:45:05 PM

Tobin_Lam: beakerxf: When os the last time you've look at the cost of colleges? Textbooks alone cost $80-120, and they change editions nearly every year to killed used book sales.

I'd just like to point out that textbooks start at $80-120 each minimum. I bought the second edition of one textbook and it was clear they were trying to milk students for every bit they could get because the 2nd edition started with chapter 5. They took out 4 chapters and figured they would get even more money if they waited another edition to renumber the chapters. Dirtbags.


Those are the cheap books. Math, science, and business will run $140-200 each. They'll be 2-3 semester books, but you'll still get farked with a new edition after 1-2 semesters.

Even better, more and more are coming out as loose pages that you put into a three-ring binder, so as soon as the shrinkwrap is broken you can't return it or sell it back.
 
2014-06-07 04:48:22 PM

beakerxf: Mugato: You could just get at least a 2.0 GPA in high school and go to a state university for practically nothing. I mean it's not as prestigious as Everest U but what is?

In Colorado the in state tuition for the state college is over $9,000. Is that what'd you consider "practically nothing"?


That initial post sounds overblown but some states have really strong incentive programs to keep the best students in state.  For example, my state has I guess what you would call an arts summer camp and an academic summer camp for the best students in the state, and if you get into that, you can get a full scholarship at a state school.
 
2014-06-07 04:52:18 PM

12349876: beakerxf: Mugato: You could just get at least a 2.0 GPA in high school and go to a state university for practically nothing. I mean it's not as prestigious as Everest U but what is?

In Colorado the in state tuition for the state college is over $9,000. Is that what'd you consider "practically nothing"?

That initial post sounds overblown but some states have really strong incentive programs to keep the best students in state.  For example, my state has I guess what you would call an arts summer camp and an academic summer camp for the best students in the state, and if you get into that, you can get a full scholarship at a state school.


Alright, maybe not "practically nothing" but there are grants and federal loans available that aren't designed to ruin people's lives the way private loans are.
 
2014-06-07 05:00:30 PM
Due to top quality Banko attorney's, I rammed my student load debt through bankruptcy. Easier to do than you think. I enjoy screwing Uncle Sam & the taxpayers.
 
2014-06-07 05:01:15 PM

Fark_Guy_Rob: AngryDragon: Giltric: They should offer to discharge the loans in exchange for lobotomies.

Knowledge isn't like the boat you cant afford or the car you cant afford.

They can take the boat and the car....you want them to take your knowledge?

Any chance we can lobotomize them before they take the loans?  Anyone signing up for 6-figures in school loan debt for a liberal arts degree immediately qualifies.

Meh - I'm sorry, but that just doesn't make sense.  I mean, really.....our whole society, our culture, our government and it's laws all fly in the face of such common sense.  We have entire rooms filled with books containing laws that are designed to protect people from things they'd otherwise agree to.  Can I sign myself into slavery?  Nope, because I might regret it.  Can I agree to work in dangerous conditions?  Nope - we have tons and tons of labor laws designed to protect me *from jobs I would OTHERWISE agree to do*.  What about food?  Come'on....we have a never-ending list of laws to prevent me from buying food that could be dangerous.  What about building codes?  Why can't you just build a house however you want, and hey - if someone buys it, it's on them to investigate how it was built and to know what makes a solid building, right?  What about health care?  Why can't I just go to my buddy Jake who totally knows some medicine stuff....because it's illegal.  You can't practice medicine without being qualified by the American Medical Association.  We have all sorts of laws about lending money - predatory lending laws, age requirements, and a whole bunch of laws for helping people who are in debt.  There are laws that dictate how much your wages can be garnished, and laws dictating bankruptcy and ALL of these laws are designed to protect people from things they would GLADLY AGREE TO.  We're making it illegal because, in the United States, we firmly believe that individuals are too stupid (or too close to the situation, however you want to say it) to decide thi ...


So if you buy a $300K house with a $30K income, you're an idiot.

If you buy a $250K Lamborghini with a $30K income, you're an idiot.

If you spend $150K to get a degree that will net you a $30K a year career, it's the school's fault.

Got it.
 
2014-06-07 05:11:45 PM
federal bailout. itll happen, which sucks for anyone who has been making their payments and will get nothing but a 'thank you for fulfilling your obligation' and a pat on the back.

/student debt delays home purchases
//boomers got houses to sell but no buyers
///again, not right now, but soon
 
2014-06-07 05:18:38 PM

Outlaw2097: federal bailout. itll happen, which sucks for anyone who has been making their payments and will get nothing but a 'thank you for fulfilling your obligation' and a pat on the back.

/student debt delays home purchases
//boomers got houses to sell but no buyers
///again, not right now, but soon


Yeah, bailouts do piss me off.  What about people like me, who pay our debts, take care of elderly relatives, do all the stuff we're supposed to do... and get shafted six ways from Sunday?  We basically get told, "You farked up, you trusted us."  Meanwhile, entitled little Millennial shiats will get everything handed to them and live a life of everyone in Gen X expected to bend over to accommodate them on every count.  Like we did the Boomers.

Can anyone be surprised that Gen X are pretty pissed off about it?
 
2014-06-07 05:24:38 PM

Tobin_Lam: beakerxf: When os the last time you've look at the cost of colleges? Textbooks alone cost $80-120, and they change editions nearly every year to killed used book sales.

I'd just like to point out that textbooks start at $80-120 each minimum. I bought the second edition of one textbook and it was clear they were trying to milk students for every bit they could get because the 2nd edition started with chapter 5. They took out 4 chapters and figured they would get even more money if they waited another edition to renumber the chapters. Dirtbags.


I paid for my first degree (nearly 20 years ago) by working and getting by with used books. Graduated with only a small $1000 loan.

I went back about 5 years ago to try to get a technical certificate that required a few college courses from Metro State here in Denver. Holy sticker shock. Only way I could afford to pay cash for supplies was to buy discounted text books online. Turns out they were black and white counterfeits. My instructor he was seeing them more often as the prices went up.

And another teacher said that it's not the teacher's decision to go with new editions. The schools get a cut of new text book sales and there is something about their contracts with publishers that means that they can't buy back certain titles and sell them as used.
 
2014-06-07 05:29:14 PM

AngryDragon: So if you buy a $300K house with a $30K income, you're an idiot.

If you buy a $250K Lamborghini with a $30K income, you're an idiot.

If you spend $150K to get a degree that will net you a $30K a year career, it's the school's fault.

Got it.


Sounds like the school is overcharging, AND the student made a bad choice.
 
2014-06-07 05:30:11 PM

12349876: beakerxf: Mugato: You could just get at least a 2.0 GPA in high school and go to a state university for practically nothing. I mean it's not as prestigious as Everest U but what is?

In Colorado the in state tuition for the state college is over $9,000. Is that what'd you consider "practically nothing"?

That initial post sounds overblown but some states have really strong incentive programs to keep the best students in state.  For example, my state has I guess what you would call an arts summer camp and an academic summer camp for the best students in the state, and if you get into that, you can get a full scholarship at a state school.


I was listen to a story on NPR and some students are finding that they can get lots of assistance for the first year of school, but that assistance is reduced as they progress towards their senior year. The practice is called "front-loading". Families and students want to finish what they start, so they suck it up and pay more to keep going.

I'm curious if the program you mention is for a full 4 year scholarship or if it specifucally targets freshman.
 
2014-06-07 05:36:53 PM

AngryDragon: So if you buy a $300K house with a $30K income, you're an idiot.

If you buy a $250K Lamborghini with a $30K income, you're an idiot.

If you spend $150K to get a degree that will net you a $30K a year career, it's the school's fault.

Got it.


While I agree, the US government does not need to subsidize bad decisions.  If a college has a high default rate, the US should not offer loans to students going to those schools.  Hopefully, this means fewer students go to mediocre but expensive private colleges.
 
2014-06-07 05:37:41 PM

AngryDragon: Fark_Guy_Rob: AngryDragon: Giltric: They should offer to discharge the loans in exchange for lobotomies.

Knowledge isn't like the boat you cant afford or the car you cant afford.

They can take the boat and the car....you want them to take your knowledge?

Any chance we can lobotomize them before they take the loans?  Anyone signing up for 6-figures in school loan debt for a liberal arts degree immediately qualifies.

Meh - I'm sorry, but that just doesn't make sense.  I mean, really.....our whole society, our culture, our government and it's laws all fly in the face of such common sense.  We have entire rooms filled with books containing laws that are designed to protect people from things they'd otherwise agree to.  Can I sign myself into slavery?  Nope, because I might regret it.  Can I agree to work in dangerous conditions?  Nope - we have tons and tons of labor laws designed to protect me *from jobs I would OTHERWISE agree to do*.  What about food?  Come'on....we have a never-ending list of laws to prevent me from buying food that could be dangerous.  What about building codes?  Why can't you just build a house however you want, and hey - if someone buys it, it's on them to investigate how it was built and to know what makes a solid building, right?  What about health care?  Why can't I just go to my buddy Jake who totally knows some medicine stuff....because it's illegal.  You can't practice medicine without being qualified by the American Medical Association.  We have all sorts of laws about lending money - predatory lending laws, age requirements, and a whole bunch of laws for helping people who are in debt.  There are laws that dictate how much your wages can be garnished, and laws dictating bankruptcy and ALL of these laws are designed to protect people from things they would GLADLY AGREE TO.  We're making it illegal because, in the United States, we firmly believe that individuals are too stupid (or too close to the situation, however you want to say it) ...




Uneducated 17 can't even have sex in some states, but are fair game for college administrators.
 
2014-06-07 05:49:55 PM

beakerxf: 12349876: beakerxf: Mugato: You could just get at least a 2.0 GPA in high school and go to a state university for practically nothing. I mean it's not as prestigious as Everest U but what is?

In Colorado the in state tuition for the state college is over $9,000. Is that what'd you consider "practically nothing"?

That initial post sounds overblown but some states have really strong incentive programs to keep the best students in state.  For example, my state has I guess what you would call an arts summer camp and an academic summer camp for the best students in the state, and if you get into that, you can get a full scholarship at a state school.

I was listen to a story on NPR and some students are finding that they can get lots of assistance for the first year of school, but that assistance is reduced as they progress towards their senior year. The practice is called "front-loading". Families and students want to finish what they start, so they suck it up and pay more to keep going.

I'm curious if the program you mention is for a full 4 year scholarship or if it specifucally targets freshman.


I looked it up since it's been a while since I was looking at college.  Each school has different scholarship programs, but if you have good grades to go along with being in the program, a lot of the scholarships are renewable if you get good grades in college.

http://gsp.ky.gov/Applicants/Apply/Scholarships.aspx
http://gsa2011.xpressions.com/alumni/alumni-networking-resources/sch ol arship-opportunities/
 
2014-06-07 06:03:33 PM

AngryDragon: Fark_Guy_Rob: AngryDragon: Giltric: They should offer to discharge the loans in exchange for lobotomies.

Knowledge isn't like the boat you cant afford or the car you cant afford.

They can take the boat and the car....you want them to take your knowledge?

Any chance we can lobotomize them before they take the loans?  Anyone signing up for 6-figures in school loan debt for a liberal arts degree immediately qualifies.

Meh - I'm sorry, but that just doesn't make sense.  I mean, really.....our whole society, our culture, our government and it's laws all fly in the face of such common sense.  We have entire rooms filled with books containing laws that are designed to protect people from things they'd otherwise agree to.  Can I sign myself into slavery?  Nope, because I might regret it.  Can I agree to work in dangerous conditions?  Nope - we have tons and tons of labor laws designed to protect me *from jobs I would OTHERWISE agree to do*.  What about food?  Come'on....we have a never-ending list of laws to prevent me from buying food that could be dangerous.  What about building codes?  Why can't you just build a house however you want, and hey - if someone buys it, it's on them to investigate how it was built and to know what makes a solid building, right?  What about health care?  Why can't I just go to my buddy Jake who totally knows some medicine stuff....because it's illegal.  You can't practice medicine without being qualified by the American Medical Association.  We have all sorts of laws about lending money - predatory lending laws, age requirements, and a whole bunch of laws for helping people who are in debt.  There are laws that dictate how much your wages can be garnished, and laws dictating bankruptcy and ALL of these laws are designed to protect people from things they would GLADLY AGREE TO.  We're making it illegal because, in the United States, we firmly believe that individuals are too stupid (or too close to the situation, however you want to say it) ...


If you make 30k and can borrow 250k to buy a house; you might be an idiot, sure.  And the bank that lends it to you?  They might be idiots too.  But the fact remains, we have laws that protect you (or limit you) from the consequences of your actions.  We also hold the bank (at least in theory, certain 'too big to fail, BS aside') accountable.  Nobody guarantees that they'll pick up the tab if you don't pay.

If you buy a fancy sports car you can't afford, same deal.  You might be an idiot, and the dealership might be an idiot.  But again, we have laws that protect you - you can declare bankruptcy to get out from under your mistake.  The dealership, they can lose a bunch of money trying to get the car back.  They'll either go out of business or use better judgement.  In 5-7 years, you are 100% over your mistake and the dealership, the other party involved in the contract, is equally to blame and equally shares in the negative side-effects.

But with student loans?  Totally different.  There is no bankruptcy, no protection.  It could be 50 years later, and the IRS can still ruin your life.  And the Universities?  Completely, 100%, unaccountable.  Not even in the slightest, despite directly benefiting from the proceeds of the loans.  The lenders/loan originators/bookkeepers....like Sallie Mae?  It doesn't matter to them, your loans are *guaranteed* by the US government.  When I get a check for 80k and give it to Colorado State University, (or any other school)...we're saying....

1.)  The University has no obligation to keep it's tuition in line, to decide the merits of the programs it offers, or to evaluate the fitness of the students
2.)  The lenders have no obligation to decide if students can repay, or if the expected income of the student can cover the loans
3.)  The 18 year-old who takes out the loan should be able to determine whether or not it's cost-effective, and if he or she can't - they should be on the line FOREVER, because f*** them!

It's ridiculous.  I'm sorry, but it is.  I'm 100% for living in a world where people are held accountable for their actions, but there are SO MANY situations where we don't.  And then you've got student loans as this super-special exception.  Abolish all bankruptcy laws, and give everyone the same deal we give students - and I'll shut up and say, 'Yup, fair is fair'.  Lost your job, can't pay your mortgage?  Well, the interest will accrue at 8% and you can repay us based on your income, for 25 years, and then, we'll tax you on the value that you owe, because we're going to 'forgive it'.  At the 8% interest and given your income based repayment - you now owe the IRS (not your lender, but THE US GOVERNMENT) an amount that might even be greater than the original amount you borrowed, even after 25 years of faithful repayment.

Because, if we can hold a stupid 18 year-old to those standards, we sure as hell should be able to hold everyone else to the same.
 
Displayed 50 of 109 comments

First | « | 1 | 2 | 3 | » | Last | Show all

View Voting Results: Smartest and Funniest


This thread is closed to new comments.

Continue Farking
Submit a Link »






Report