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Thread: Student Loans... Can the Pubs be This Stupid?

  1. #41
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    Quote Originally Posted by Winstonbiggs View Post
    You can make 6 figures as a professional troll? Nice.
    Honest to god I amaze myself sometimes!

  2. #42
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    Quote Originally Posted by FF2 View Post
    I believe that people should study what they want. And if they want to take out loans to do so thats their choice. Kinda thought you would be down with the whole freedom thing.

    The joke is that some people think some careers are automatic money makers and some aren't.

    I know out of work software engineers and millionaire photographers. Do what you love and do it well and you'll be successful.
    Not when they default at record pace.

    The top 10 percent in any field make BIG money. Lets stay away from the extremes. Taking out a 100K loan to get a degree in English? My waitress the other evening was getting a masters in English. Ni idea what to do with it.

  3. #43
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    Quote Originally Posted by southparkcpa View Post
    Not when they default at record pace.

    The top 10 percent in any field make BIG money. Lets stay away from the extremes. Taking out a 100K loan to get a degree in English? My waitress the other evening was getting a masters in English. Ni idea what to do with it.
    So are you going to decide which folks will be top 10 percent or just deny anyone an English Major?

  4. #44
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    Quote Originally Posted by FF2 View Post
    I believe that people should study what they want. And if they want to take out loans to do so thats their choice.
    Actually, it's the lender's choice, following proper guidelines minimizing risk and ensuring repayment.

    Which is the problem when the State runs it as a social welfare/experiment program, repayment is no longer primary, and alot of bad loans get granted to alot of bad students.

    Kinda thought you would be down with the whole freedom thing.
    With Freedom comes Repsonsabillity. Study whatever you like, just don't ask for a public handout when your best job offer is Burger King and you default on your loan.

    The joke is that some people think some careers are automatic money makers and some aren't.
    Probably because some are, and some aren't.

    I know out of work software engineers and millionaire photographers. Do what you love and do it well and you'll be successful.
    Is that your example, software engineers and the ultra-rare millionare photog? A. Software (and IT as w whole) has been a flooded labor marketplace for ages, only the truly good make real money now. B. Is like winning the lottery, it's statisticly insignifigant.

    Major in the right things, and be good at it, and work hard at it, and you'll do fine.

    Major in the fluff, think a degree entitles you to a cushy job, and/or don't be good at it or work hard, and you'll have trouble repaying your loans, but you'll get a great Burger King hat to wear round the house in your off hours between night shifts.

  5. #45
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    Quote Originally Posted by Churchill View Post
    Actually, it's the lender's choice, following proper guidelines minimizing risk and ensuring repayment.

    Which is the problem when the State runs it as a social welfare/experiment program, repayment is no longer primary, and alot of bad loans get granted to alot of bad students.



    With Freedom comes Repsonsabillity. Study whatever you like, just don't ask for a public handout when your best job offer is Burger King and you default on your loan.



    Probably because some are, and some aren't.



    Is that your example, software engineers and the ultra-rare millionare photog? A. Software (and IT as w whole) has been a flooded labor marketplace for ages, only the truly good make real money now. B. Is like winning the lottery, it's statisticly insignifigant.

    Major in the right things, and be good at it, and work hard at it, and you'll do fine.

    Major in the fluff, think a degree entitles you to a cushy job, and/or don't be good at it or work hard, and you'll have trouble repaying your loans, but you'll get a great Burger King hat to wear round the house in your off hours between night shifts.
    Maybe we should have the government set up a new agency that dictates to people what their careers should be. Worked for the USSR.

    "Olga, You vill be a gymnast!" COLLECTIVISM!

    Sorry, I just know too many people who majored in your "wrong things" and make a real good living.

    If you want to go for more strict loan collection do it...dont give me a list of careers you approve of.

  6. #46
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    Quote Originally Posted by Winstonbiggs View Post
    As if State college tuitions are based on the market rather than taxpayer subsidy. If the argument that subsidizing loans are driving costs up why encourage subsidizing schools at the State level to drive costs down?
    The schools are already subsidized at the State level. States choose to do this to remain economically competitive. Its paid for through property taxes. I'm not trying to have a philosophical debate about state tuition subsidies here. The issue is that 18 year old kids sometimes make stupid decisions when it comes to finances. It may have something to do with the fact that most of them have never needed to work to support a family and by consequence don't really understand how much money they are borrowing and the burdens of paying it back. They choose Hofstra over SUNY Stonybrook because Hofstras campus is nicer. Then they pay 20K a year more than the comparable SUNY and wind up with twice the debt. I would take away the option. They can still go to a private school under my plan they would simply NEED to first get a scholarship or come up with the cash.

  7. #47
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    Quote Originally Posted by chiefst2000 View Post
    They can still go to a private school under my plan they would simply NEED to first get a scholarship or come up with the cash.
    Oh thats all?

  8. #48
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    Quote Originally Posted by long island leprechaun View Post
    As a general matter, most students and parents are very cost conscious when it comes to college choice. Private Schools usually offer larger scholarships to compensate the competition with State Schools, so it's often a marginal cost differential, not major. When it's major, it's usually because the parents are well to do and expected to contribute at a much higher rate... it's not about student loans.

    Even the Republican leadership involved in keeping current rates for 2 years were shocked that the extension didn't pass the Senate. It wasn't just Dems complaining. All the slipping and sliding here about how valuable college degrees are and how ideally they could be steered etc. don't address the fundamental current issue: how should the loan burden be dealt with -- raise rates and put the burden on the students? continue federal subsidy of the loans at lower rates to maintain a lowered burden on students? Anybody who thinks that raising rates will cause colleges to lower their costs is frankly naive. The principal will be the same regardless of the rate paid down the line. There is no sticker shock effect here. And schools have been raising rates through a ferocious recession. So much for supply and demand or linkage to markets. It's a different animal.

    From today's USA Today:

    WASHINGTON The Senate on Thursday failed to pass two bills that would have blocked increases in federal student loan rates, which are set to double July 1.
    The Democrats' bill would have kept interest rates where they are for the next two years to give Congress more time to negotiate student loans. Total student loan debt in the U.S. is about $1 trillion.
    "What we put forward today was a perfectly sensible solution to help address the problem," said Sen. Patty Murray, D-Wash. According to Murray, the Democratic bill would have protected 7 million college students from rate increases. "It seems like a no-brainer to me, but apparently not to Republicans."
    "I cannot understand why we're having a problem with this," Senate Majority Leader Harry Reid told reporters after the vote.
    The top Republican on the Senate education panel seemed to share that frustration. "If we can't agree on this, we can't agree on anything," said Sen. Lamar Alexander, R-Tenn. "This is a manufactured crisis."
    The Republican proposal would have stopped the doubling of loan interest rates and tied future rate hikes to market-based rates. Reid said the GOP measure would increase the burden on students by $13 billion or $14 billion.
    I haven't looked in to the political stuff you mentioned but back to my point. In my "no loans above state tuition levels" plan if what you say is true and these private universities offer scholarships to compete with public U's then what's the problem? I believe that they don't do that BECAUSE they know that the FED will lend the money to any student that needs it and therefore they don't need to offer discounts. If that rule were changed private U's would adjust because their student base would decline.

    Of course any politician suggesting a plan like mine would quickly be labeled a racist by the left.

  9. #49
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    Quote Originally Posted by FF2 View Post
    Oh thats all?
    Exactly, If you want to go to a Private School that costs twice what a comparable public U costs you should come up with the cash.

    That's racist right??

  10. #50
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    Quote Originally Posted by chiefst2000 View Post
    The schools are already subsidized at the State level. States choose to do this to remain economically competitive. Its paid for through property taxes. I'm not trying to have a philosophical debate about state tuition subsidies here. The issue is that 18 year old kids sometimes make stupid decisions when it comes to finances. It may have something to do with the fact that most of them have never needed to work to support a family and by consequence don't really understand how much money they are borrowing and the burdens of paying it back. They choose Hofstra over SUNY Stonybrook because Hofstras campus is nicer. Then they pay 20K a year more than the comparable SUNY and wind up with twice the debt. I would take away the option. They can still go to a private school under my plan they would simply NEED to first get a scholarship or come up with the cash.

    Property taxes, income taxes, bond borrowing subsidized by Federal Taxpayers from other States.

    It might well be cheaper to simply subsidize the student than subsidizing institutions?

  11. #51
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    Quote Originally Posted by FF2 View Post
    Maybe we should have the government set up a new agency that dictates to people what their careers should be. Worked for the USSR.

    "Olga, You vill be a gymnast!" COLLECTIVISM!
    Safe to say your vote will support this before mine will.

    Sorry, I just know too many people who majored in your "wrong things" and make a real good living.
    Major is not the only factor, obviously.

    If you want to go for more strict loan collection do it...dont give me a list of careers you approve of.
    Deal.

    Now, best of luck getting the State out of Loans in order to make that happen.

  12. #52
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    Quote Originally Posted by FF2 View Post
    So are you going to decide which folks will be top 10 percent or just deny anyone an English Major?
    of course not... BUT if the loan doc said, you default, we cut your balls off. THEN, we would have students more serious about their choices.

  13. #53
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    Quote Originally Posted by FF2 View Post
    I believe that people should study what they want. And if they want to take out loans to do so thats their choice.
    You also believe that when these inquisitive choice-makers get swamped with life-ruining debt they can simply blame a political party instead of holding themselves accountable. Sadly, this is par for the course for today's liberal.

  14. #54
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    Quote Originally Posted by FF2 View Post
    You guys crack me up, telling everyone what majors are worthwhile and what aren't.
    worthwhile isn't an issue. likelihood of repayment and impact of debt on quality of life is. I think philosophy is critical - but philosophy majors are in far less demand than chemical engineers

  15. #55
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    Quote Originally Posted by chiefst2000 View Post
    Exactly, If you want to go to a Private School that costs twice what a comparable public U costs you should come up with the cash.

    That's racist right??
    No, just silly.

    Hey if you want to buy that house...pay cash!
    Last edited by FF2; 06-07-2013 at 03:13 PM.

  16. #56
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    Quote Originally Posted by sackdance View Post
    You also believe that when these inquisitive choice-makers get swamped with life-ruining debt they can simply blame a political party instead of holding themselves accountable.
    Ummmm...no I dont.

  17. #57
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    Quote Originally Posted by southparkcpa View Post
    of course not... BUT if the loan doc said, you default, we cut your balls off. THEN, we would have students more serious about their choices.
    Thats a BIG advantage for women.

  18. #58
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    Quote Originally Posted by Churchill View Post
    Go back to the strip chucklenuts.
    seeing this late, but


    seriously

  19. #59
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    Quote Originally Posted by FF2 View Post
    No, just silly.

    Hey if you want to buy that house...pay cash!
    This is an odd point to argue. These aren't grants we are talking about. They are loans. What advantage does going to a middling U like Hofstra for 40K a year have over a comparable State School for half the price?

  20. #60
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    Quote Originally Posted by FF2 View Post
    No, just silly.

    Hey if you want to buy that house...pay cash!
    That's what the downpayment is. The more expensive the home, the more cash needed. You want to go to a more expensive school, either earn a scholarship or pay more cash. We need to stop pushing the government and the banks to make everything attainable to those who can't afford it. Stop lowering lending/borrowing standards. Either you can pay the premium or you can't. Nothing wrong with a smaller home and State University education.

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