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What's insane is this all the debt built up from the student loans. Needs to be a complete overhaul
So for you its both a complete overhaul (how? what exactly does that look like?) and students forgoing college?I've been saying for a long time they shouldn't offer students loans anymore
Ok. This makes more sense. I thought you were just preaching from some moralistic high ground about "responsible" spending habits.
Still. As someone in the field, what information do you have about the spending habits of student debtors?
Not that I know of. There aren't any Cdos for student loans like there were for mortgages I don't even think Student loans were used as an underlying asset for any kind of instrument.
What you "see" is one thing. But to reduce the variety of reasons people default to a simple story of consumer choice is, I think, completely baseless.I see people come defaulting on loans left and right driving nice cars, rocking nice clothes, etc.
People just want to disregard what got then the job like its owed to them
Also borrowers need to borrow responsibly rather than taking large amounts of loans to live off of, most degrees don't cost what you "borrow"
What you "see" is one thing. But to reduce the variety of reasons people default to a simple story of consumer choice is, I think, completely baseless.
You're also assuming that so long as people act responsibility and forego cars and clothes, they will be able to extinguish their indebtedness.
But this rational is antithetical to the modern incarnation of capitalism, in which debt is essential. The purpose is for borrowers to be permanently indebted. There is no end.
And if this is the raison d'etre, then why continue to view repayment through the moralistic lens of responsibility?
Actually, I'm on the fence.If you don't want to pay your student loans go for it, your mind seems already made up
Not so much worthless if you have a game plan and can execute it.Rack up debt for a worthless major then blame others brehs.
Not so much worthless if you have a game plan and can execute it.
Just be very careful what you major in and be realistic. You can't come out of college with stars in your eyes.
School =/= real world
What is a worthwhile major?Rack up debt for a worthless major then blame others brehs.
Interest for student loans also don't accrue monthly/annually, EVERYDAY.interest rates if you got your degree in the past 7-10 years are probably around 6%
Interest for student loans also don't accrue monthly/annually, EVERYDAY.
Mortgage interest rates are 4%. Warren Buffett and investors buying houses, while students struggle. Might as well take out a mortgage loan to pay for school, interest is tax deductible too (student loans are only tax deductible up to 2500$ and if you make
Either find a way to pay for it or don't go
Or maybe they would be forced to lower their exorbitant tuition instead of making insane profits through govt subsidies. These private schools aren't exactly hurting for money.Colleges would lose A LOT of money if loans were not handed out.
Or maybe they would be forced to lower their exorbitant tuition instead of making insane profits through govt subsidies. These private schools aren't exactly hurting for money.
Backing student loans given to people regardless of credit needs to end now.
Federal loans aren't credit based tho
Right, which is what I mean by giving student loans to people regardless of their credit history. Since everyone 17+ can secure 40k+ loans schools are charging whatever they feel like.
You're really intent on attributing student loan defaults to the irrational spending habits of a few?
Not the fact that, in my case, one of my student loans accumulate $3.00 in interest everyday?
Mine accumulated over 25k a year in interest