Student loan forgiveness

Eventually, we will get down to one last working man footing the bill for everyone else. When he wises up and stays in bed, I guess it's lights out.

 

Are you missing the point or just pointing out what we already know?

 

I am just struggling to understand why anyone would think that giving a group with a proven track record of bad decisions free money would help anything.

 

If your point was anything other than Whaaaa, I missed it.

 

Also, think about a college president's salary. Columbia's President makes close to $4M, the school owns a bunch of real estate through out NYC, and are "non-profit". Paid for by the students, who can basically get a big loan, and all these checks are paying for the schools to become richer. The schools never have to even take out a mortgage on anything or pay their fair share of taxes on these holdings, while the student has the burden for what 20 years.

Between these nonprofit schools and churches...What a racket they have devised.

 

All great and dandy, but the majority of kids are not graduating into $70k jobs.

"PayScale estimates the typical graduate with zero to five years experience makes $48,400."
Also, depends on where you live. CA, NY, etc...forget about it. No way you are taking home $4k/month after taxes making 50K, and rent is not 1500/month around these parts.

 

I am about stretched to the point of not giving a shit and telling the gov they can have it. Between taxes and this loan forgiveness, I’m with Fonda on getting tired of being whapped for doing the correct thing and letting those who don’t skate.

I worked three jobs and paid as I went to secondary school at a major university. I lived in a shit cheap apartment with two other Shitheads and drove the beater truck. I ran out of money and dropped out when I got a job offer I couldn’t turn down. What are they going to pay me?

 

Again it's not about you or students. It's about keeping that money supply flowing. It's really about propping up the banks....again.

 

Agreed I was just making an example of how easy it is to be strapped. And if you're making $50k it's even more so. Then California & Co really bone you

 

Not sure if anyone here has tried the Loan Forgiveness BS but it really isn't what it seems....I'm a teacher and I applied for the program so I'm familiar with the ins and outs. Long story short you don't save much by getting in on this at all. My payments were $183 a month bc I owed $34k to start with. If I joined the program my payments would balloon to $786 a month fo the next 7 years until they were forgiven....WTF you say...that's what I said. If I chose to do this, I would wind up saving a whopping $4300 but paying $600 a month more than I'm paying now. It's a scam IMO more or less.

Maybe my particular situation is unique but I don't see anyone going for this.

 

That’s the rub. The schools were behind the easy loans, same as the insurance companies were behind the ACA. They knew they’d be able to jack tuition up and make tons of money.

 

I get that. My question was more rhetorical. At what point do the people that are penalized for doing what’s right say fuck it?

 

I delivered pizzas while going through PSU. No loans but Dad did help with about 25% of the cost. A scholarship did about 25% and I did the the other 50%. One important key is get through as fast as possible. Dragging a degree out for 5 years (or even more) is death by ru ru. My son did the same thing, nose to the grind stone, work while in school and get the hell out of there as fast as you can. In his case there was still 20 grand in loans at the end.
What changed? The universities are not non-profit, they've figured out how to milk the system for all it's worth. G'ment loans just opened up a pot of money for the colleges to scoop up. Hospitals have figured out this scam too.

 

“Time to shut down the Bank of Uncle Stupid. “ Plan to get rid of the government funded loans.

https://www.nationalreview.com/2019/04/eliminate-federal-student-loans/

 

This has a little millennial to it, but it's a really good watch on student loans (actually most of his episodes are pretty informative)

 

Fast is ideal, but the schools sometimes make that very difficult. My daughter was in the nursing program at Georgia Southern. As is common, some of her classes had prerequisites. The school limited seating in those prerequisites, and scheduled them only for fall. Then they allowed non-nursing students to schedule before the nursing students. Miss that class and you had to wait a year to take it again. I am convinced they want it to take more than four.

Don't get me started on the textbook racket.

 

This, and then set limits on school loan amounts. College tuition has out paced everything else because there are no controls on it.

My kids (20 and 23) are going a different direction - welder and electrician, and I am proud of them for doing so. They are already making $70k without students loan payments.

Edit for clarity

 

He lost me in the first two sentences. Insinuating that anyone not under a student debt loan burden is one of they 1% the like to beat on. How about if you are part of the 99% of people churned out of government schools with no math skills and brainwashed into thinking you can't have a prosperous life without going into debt immediately to get educated.

But he isn't going to say that in front of a camera. It doesn't pull at the right heart strings.

Here's a novel idea. If the government wants to tackle this problem how about making sure that anyone making it out of their indoctrination centers has a basic fundamental understanding of money and finances.

Ohh wait...you can't do that. Some of them might understand how hard they get fucked on tax day if they do manage their finances well enough to actually accumulate money.

 

Welcome to America!!!
What a country!!!!!!

 

Well, sucks that you didn't watch it. His target audience is about the 20-35 age group, so yeah many in that group are effected, so makes sense he speaks to that first.

It shows how the DOE loans are dealt and the "providers" and the bogus Public service "forgiveness" where 96 were approved from 30,000 applications.