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| NOW You Noticed? (Student Loans) in forum [Market-Ticker]
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Geckogm
Posts: 3723
Incept: 2007-06-26
Canyon Lake
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The link needs a log in to access article.
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Flappingeagle
Posts: 1229
Incept: 2011-04-14
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Am I the only person that finds it ironic that the government will not let you have a beer until you are 21 but that they'll permanently screw you with debt when you are 18?
Flap
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Here are my predictions for everyone to see:
S&P 500 at 320, DOW at 2200, Gold $300/oz, and Corn $2/bu.
"You can't build a house of cards on a shaking table." - Tony Johns
The January 2015 AMZN put at $130 (cost $4.25) will be a winner.
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Bandler6
Posts: 383
Incept: 2008-07-01
Under a rock
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"Betray Your Bank Before Your Bank Betrays You"
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Newcub14
Posts: 423
Incept: 2007-08-26
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Nationalized student lending - check
Nationalized housing - check
Nationalized healthcare - check
And we live in a free land?
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Tsx500
Posts: 10
Incept: 2012-05-10
Hawaii
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..."land of the fee , home of the slave" , right ?
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Ptoemmes
Posts: 143
Incept: 2009-04-13
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To which I'll add - perhaps ironically or with a just plain ole huh - that dear ole Florida Governor Scott has borrowed dear ole Texas Governor Perry's challenge to his state for (Florida) state colleges (used to be community colleges) to offer a $10,000 Bachelor degree. http://www.tampabay.com/news/education/g....I think this is a positive thing...but admit to not being sure. |
Bagbalm
Posts: 4263
Incept: 2009-03-19
Just North of Detroit
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Write a check and they mail you the sheepskin?
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Enapa
Posts: 1165
Incept: 2008-01-25
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Wonder what the percentage of student loan money is spent on retail and other non school items? I bet its a sizable chunk.
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Mo
Posts: 12158
Incept: 2007-06-26
Pa.
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If they took away the student loan program, the slaves/students would be out screaming and protesting.
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Welcome to Pottersville
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Crzymorse
Posts: 1195
Incept: 2010-06-25
Maryland
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Does anybody know the unemployment rate for kids, I expect it would be a leading indicator for loan defaults. This will be QEed away once it becomes a big enough problem.
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Fraudster
Posts: 4176
Incept: 2011-05-10
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Another benefit of dual citizenship my kids will enjoy. The ability to qualify for a good university in another, much cheaper, country. No way am I paying cash or allowing them to take a penny of loans to go to any US college.
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"Let China sleep, for when she wakes, she will shake the world." - Napoleon Bonaparte
"Circulation ceases first at the outer edges [Europe and Japan]. It will take a while yet for the decay to reach the heart [America]." - Foundation & Empire by Isaac Asimov
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Aquapura
Posts: 131
Incept: 2012-04-19
Land of 10,000 taxes
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Last night a door knocker came to my house asking for money to support lobbying at the state capitol for more higher education funding. It was a mid-20's guy so I asked what his "job" was...Unemployed college graduate saddled with debt.
He wasn't worth debating but was fully brainwashed into believing his college education cost so much because the state (i.e. taxpayers) didn't give enough. Needless to say I didn't sign the petition or give any cash, which moves me to wonder how much of my neighbors cash went directly into his pocket.
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Mortgageguymn
Posts: 1566
Incept: 2009-03-09
North Coast
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Aqua,
He probably worked for MPIRG. Knew a lot of those people in the '80's. After a decade of not bathing and selling drugs they went to work for the Wellstone campaign. To each his own, I guess.
I'm not sure even Obama is stupid enough to have taken over the student loan business because he thought the federal government was more efficient. I think he realized that being able to offer conditional loan forgiveness is another way to buy votes. Chicago way.
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Poodlelover
Posts: 147
Incept: 2012-02-02
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I can't read the article, but I'm cheered to see this happening. I wanted the disgusting loan bubble to burst before my kids went off to college. The easy money of college education has grossly done horrendous things to the price of tuition across the country.
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Nickdanger
Posts: 39
Incept: 2011-06-12
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Another interesting aspect of the student loan dilemma has to do with parents as co-signers. Since these are government loans, they have the capability to enforce payment via the IRS, and if you are receiving some kind of SS or at an age where you are receiving Medicare, you just might receive reduced benefits if the student defaults on the loan. So now both parties have it hanging over their heads. The gov will get their pound of flesh, one way or another.
I know a lot of people I talk to had no idea of the potential problems with co-signing for their child. College recruiters promote it to the parent using the excuses that the "student has no credit history, the student is too young to enter into a contract on his/her own, yada yada yada...."
Most kids today have no idea what they are signing up for. The summer between his senior year and first year of college, our son was flipping channels and hit on one of the afternoon talk shows that had a segment on college loans. He couldn't believe how anyone could rack up $60K (or more) in debt. When we explained to him that it would be the equivalent of 4 years of in-state tuition and room/board at the school he was going to attend, he was absolutely shocked. Although he had worked part time all through high school, the high-finance of a college education was way beyond the scope of his imagination. I can see how kids get sucked into this. Few of them have any financial sense.
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Suppose you were an idiot, and suppose you were a member of Congress; but I repeat myself.
--Mark Twain
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Poodlelover
Posts: 147
Incept: 2012-02-02
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"Few of them have any financial sense."
Absolute FACT. 18 year olds are stupid at the best of times (I remember because I was one). Most are hopelessly ill prepared to understand the impact of tens of thousands in debt when they get out of college in a difficult job market. It is simply so far off as to be totally irrelevant to them. I still remember a friend telling me many years ago about a loan program available to some and that they saw it as their "stereo fund". They would take out more than necessary and pad their dorm room with the latest kit. When the loan need not be repaid for years later of course many will do this.
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Blurtman
Posts: 563
Incept: 2009-01-24
Banned
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The labor force participation rate is at an all time low. And unlike apologists claim, only 40% of the drop is do to retiring boomers, who are so wealthy that many are fleeing to the disability roles. The unemployment rate amongst the young is very high. No job, no student loan payment. And keep in mind that unemployment rate measurements frequently do not measure those who quit looking for work.
"For young college graduates, the unemployment rate was 10.4 percent in 2010 and 9.4 percent over the last year, while the underemployment rate was 19.8 percent in 2010 and 19.1 percent over the last year."
"The long-run wage trends for young graduates are bleak, with wages substantially lower today than they were in 2000. Between 2000 and 2011, the real (inflation-adjusted) wages of young high school graduates declined by 11.1 percent, and the real wages of young college graduates declined by 5.4 percent."
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I have a reading comprehension problem and the owner banned me for repeatedly displaying it after being warned.
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Bertdilbert
Posts: 2666
Incept: 2008-12-22
CA
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They should have just taken the money and bought power ball tickets, they would have had a better return...
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Dear Euroland: Relax, Germany has a plan for your money!
Political Capital Defined: We are out of money but will tax our citizens for whatever it takes to "SAVE" the Euro.
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Weezie
Posts: 6070
Incept: 2008-05-19
Caution: Congress at Work
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In one of the homeschooling classes I taught, I told the kids about loans, how they worked and how much interest they'd pay and so on.
We then set up a scenario where they graduated from college with $60K in debt and a $45K/ yr job. Taking out taxes, rent, utilities, insurance, etc how much did they have 'left.'
It was an eye-opener for them.
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The election is not a way to have a voice in government, but rather an impotent declaration if we prefer ketchup or mustard on our **** sandwich.
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Dusty88
Posts: 126
Incept: 2011-10-21
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How are the banks benefiting now? I know these used to be guaranteed loans but I thought the government was making them directly now? Am I wrong?
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Apotheoun
Posts: 1283
Incept: 2009-08-14
MN
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student loans... if you are creative and patient enough you can get rid of them. Just commit fraud like everyone else, take out credit cards and loans (on house etc.) and use the money to pay off the loans and then default on those.
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"when despair is all you can see, the end is finally near."
"Because there is some good left in this world, AND ITS WORTH FIGHTING FOR!"
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Dashingdwl
Posts: 9764
Incept: 2007-06-26
los angeles
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Federal programs exist that will forgive the remainder of your federal student loan debt if you work in the public sector or for a registered nonprofit for 10 years and make your payments on time. http://money.msn.com/debt-management/can....
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When you are hard and disciplined, you can be principled. People fear you because they have no leverage against you. It's the truest form of Liberty.
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Deckchairs
Posts: 97
Incept: 2012-07-06
The Slightly lessDemocrat -IC People's Rebuplic of Las
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without a student loan bubble how else would professors get paid salary, airfare, and accommodations to go to conferences about http://arts.stanford.edu/event/from-suns.... Asian American Comic Books at Stanford University. "In our discussions, we aim to think through the intersection of comics and Asian American storytelling, the attendant problems of such specificity when considering the local against the backdrop of the national, and how the specificity of the medium contributes to narrating representation, diaspora, immigration, family and history."
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If I could just get my tax attorney to be my girlfriend life would be all right.
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