any cons in suspended student loans debt?

[Anonymous]

Anonymous wrote:

Anonymous wrote:Maybe people should have to take IQ tests before being allowed to sign contracts. Because it seems like "I was too dumb to understand what I signed" is trying to be passed off as a valid excuse for defaulting.

The parents are the ones doing the defaulting. Parents enter into ''agreements'' with their kids for Parent Plus Loans that even though it technically belongs to both the parent and the kid, the kid is usually the one expected to pay.

Maybe, I don't know, schools shouldn't have a COA that is the yearly equivalent of the yearly median income in some municipalities.

Maybe people should stop matriculating to these schools, and they would lower their fees. Why should they when they have more students than they can take? No one is making you go!

[Anonymous]

Anonymous wrote:

Anonymous wrote:Maybe people should have to take IQ tests before being allowed to sign contracts. Because it seems like "I was too dumb to understand what I signed" is trying to be passed off as a valid excuse for defaulting.

The parents are the ones doing the defaulting. Parents enter into ''agreements'' with their kids for Parent Plus Loans that even though it technically belongs to both the parent and the kid, the kid is usually the one expected to pay.

Maybe, I don't know, schools shouldn't have a COA that is the yearly equivalent of the yearly median income in some municipalities.

Sounds like a family issue and not the government's problem. Take it up with your parents.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Maybe people should have to take IQ tests before being allowed to sign contracts. Because it seems like "I was too dumb to understand what I signed" is trying to be passed off as a valid excuse for defaulting.

The parents are the ones doing the defaulting. Parents enter into ''agreements'' with their kids for Parent Plus Loans that even though it technically belongs to both the parent and the kid, the kid is usually the one expected to pay.

Maybe, I don't know, schools shouldn't have a COA that is the yearly equivalent of the yearly median income in some municipalities.

Maybe people should stop matriculating to these schools, and they would lower their fees. Why should they when they have more students than they can take? No one is making you go!

Employers of the most desirable jobs (WFH desk jobs) indeed require degrees.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Maybe people should have to take IQ tests before being allowed to sign contracts. Because it seems like "I was too dumb to understand what I signed" is trying to be passed off as a valid excuse for defaulting.

The parents are the ones doing the defaulting. Parents enter into ''agreements'' with their kids for Parent Plus Loans that even though it technically belongs to both the parent and the kid, the kid is usually the one expected to pay.

Maybe, I don't know, schools shouldn't have a COA that is the yearly equivalent of the yearly median income in some municipalities.

Maybe people should stop matriculating to these schools, and they would lower their fees. Why should they when they have more students than they can take? No one is making you go!

Because educational institutions should not be a commodity but rather a public good like in other countries. They are not meritocratic if they are a commodity.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Maybe people should have to take IQ tests before being allowed to sign contracts. Because it seems like "I was too dumb to understand what I signed" is trying to be passed off as a valid excuse for defaulting.

The parents are the ones doing the defaulting. Parents enter into ''agreements'' with their kids for Parent Plus Loans that even though it technically belongs to both the parent and the kid, the kid is usually the one expected to pay.

Maybe, I don't know, schools shouldn't have a COA that is the yearly equivalent of the yearly median income in some municipalities.

Maybe people should stop matriculating to these schools, and they would lower their fees. Why should they when they have more students than they can take? No one is making you go!

Employers of the most desirable jobs (WFH desk jobs) indeed require degrees.

Well, if you don't agree with the tuition they charge, I guess you should choose a non-degree job. Stop acting like a college education is an entitlement. Its not!

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I would not support debt forgiveness. I’d be pissed.
Maybe we need to recognize that 100% college participation goal is not justified or appropriate. What college graduates are going to want to drive a bus, or pick strawberries, or work in a meat processing plant?

My point is that the people who drive the bus, pick the strawberries, and process meat are important too. We need to make things suck less for people who work manual jobs or in the service industry, or in the trades, instead of college being the only “way out” of a hard life.

Our system needs to stop incentivizing the production of white collar workers because we are not that special. I am one of them - a fed paper pusher of sorts. I am paid well. Of all of the white collar positions I have held, the thing I am doing now is the most meaningful. But a lot of white collar work does not provide as great a benefit to society as the salaries would suggest.

I paid off my undergrad loans. I could not afford grad school and had to work up the ladder to get where I am. I do not wish to subsidize those who pursued advanced degrees and got a leg up, when I had to work very hard to get where I am.

If someone doesn’t go to college, it should be because they didn’t want to go and/or because they were not meritorious enough. It should not be because they couldn’t afford to.

Sorry, it drives me insane the cop-out mentality of “not everyone should go to college” that you hear from wealthy white right-wing folks who have degrees themselves and sent their own kids to college full pay. When all of Tucker Carlson kids went to boarding school, Harvard, and UVa, your argument holds no water. Practice what you preach.

They're right.

Some of the biggest losers of the increasing emphasis on college degrees are working class blacks, so this isn't exactly a racial issue, no matter how much you want to turn it into one.

The more people go to college, the less valued a college degree is while simultaneously being more required for no reason. And demanding people take on debts for something that serves as an effective barrier to progress is hardly helpful.

I don’t think they should have to take debts on to do it; it should be highly funded via taxes. They got their cushy air-conditioned desk job that requires a degree and think *those* people’s kids should have to go be plumbers instead of having to compete for white collar jobs with them. They’re hypocrites who’d never send their own kids to trade school. You’ve been duped. Do you seriously think Tucker Swanson Carlson is a champion of the working class?

If you are insulting plumbers, and it sounds like you are, then you are part of the problem.

Let's be honest. Would you rather be a plumber vs. a white-collar desk job in air-conditioning?

Plumber makes more, and can eventually own their own business, but keep looking down on them.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I would not support debt forgiveness. I’d be pissed.
Maybe we need to recognize that 100% college participation goal is not justified or appropriate. What college graduates are going to want to drive a bus, or pick strawberries, or work in a meat processing plant?

My point is that the people who drive the bus, pick the strawberries, and process meat are important too. We need to make things suck less for people who work manual jobs or in the service industry, or in the trades, instead of college being the only “way out” of a hard life.

Our system needs to stop incentivizing the production of white collar workers because we are not that special. I am one of them - a fed paper pusher of sorts. I am paid well. Of all of the white collar positions I have held, the thing I am doing now is the most meaningful. But a lot of white collar work does not provide as great a benefit to society as the salaries would suggest.

I paid off my undergrad loans. I could not afford grad school and had to work up the ladder to get where I am. I do not wish to subsidize those who pursued advanced degrees and got a leg up, when I had to work very hard to get where I am.

If someone doesn’t go to college, it should be because they didn’t want to go and/or because they were not meritorious enough. It should not be because they couldn’t afford to.

Sorry, it drives me insane the cop-out mentality of “not everyone should go to college” that you hear from wealthy white right-wing folks who have degrees themselves and sent their own kids to college full pay. When all of Tucker Carlson kids went to boarding school, Harvard, and UVa, your argument holds no water. Practice what you preach.

They're right.

Some of the biggest losers of the increasing emphasis on college degrees are working class blacks, so this isn't exactly a racial issue, no matter how much you want to turn it into one.

The more people go to college, the less valued a college degree is while simultaneously being more required for no reason. And demanding people take on debts for something that serves as an effective barrier to progress is hardly helpful.

I don’t think they should have to take debts on to do it; it should be highly funded via taxes. They got their cushy air-conditioned desk job that requires a degree and think *those* people’s kids should have to go be plumbers instead of having to compete for white collar jobs with them. They’re hypocrites who’d never send their own kids to trade school. You’ve been duped. Do you seriously think Tucker Swanson Carlson is a champion of the working class?

If you are insulting plumbers, and it sounds like you are, then you are part of the problem.

Let's be honest. Would you rather be a plumber vs. a white-collar desk job in air-conditioning?

Plumber makes more, and can eventually own their own business, but keep looking down on them.

With your use of the word “they,” I know you’re not one. Why not if it’s so great?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Maybe people should have to take IQ tests before being allowed to sign contracts. Because it seems like "I was too dumb to understand what I signed" is trying to be passed off as a valid excuse for defaulting.

The parents are the ones doing the defaulting. Parents enter into ''agreements'' with their kids for Parent Plus Loans that even though it technically belongs to both the parent and the kid, the kid is usually the one expected to pay.

Maybe, I don't know, schools shouldn't have a COA that is the yearly equivalent of the yearly median income in some municipalities.

Maybe people should stop matriculating to these schools, and they would lower their fees. Why should they when they have more students than they can take? No one is making you go!

Employers of the most desirable jobs (WFH desk jobs) indeed require degrees.

Well, if you don't agree with the tuition they charge, I guess you should choose a non-degree job. Stop acting like a college education is an entitlement. Its not!

I went to college long ago, when you could pay tuition with a summer job. And I don’t think college pricing should be set up like customers choosing a car because a teenager has no control over the economic standing of their family. You’ve basically admitted that you think universities should care about how much money you parents have rather than how good of a student you are.

[Anonymous]

In the U.S., everything and anything is up for sale.

[Anonymous]

Anonymous wrote:

Anonymous wrote:A few things would help the situation now and in the future. Immediately. All interest rates need to be lowered to a manageable level. One of my friends has a 20% interest rate. If that was lowered to even five or 8% that would be helpful. I got mine repaid back when they were all 2%.
Next we need to put a cap on college fees and the amount that can be borrowed. Say no more than 10% over an annual tuition cost at that specific college. I have a friend who took out thousands more each semester and now is struggling to pay it back because she didn't understand what she was doing at the time.
Which brings me to third. There needs to be financial education in all high schools and the first year of college talking about interest rates and exactly how to pay back college loans and refinancing options.

This became a "crisis" during Obama's term when the federal government took over student loans.
https://www.investors.com/politics/editorials/obama-created-student-loan-crisis-with-1-trillion-in-loans/

Prior to this horrible legislation, the interest rates on loans were much more competitive.
So, you can thank Obama.

Lol what? Stafford loan interest rates were in the 6%+ range in the 2000s versus under 3% today. What are you smoking?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:A few things would help the situation now and in the future. Immediately. All interest rates need to be lowered to a manageable level. One of my friends has a 20% interest rate. If that was lowered to even five or 8% that would be helpful. I got mine repaid back when they were all 2%.
Next we need to put a cap on college fees and the amount that can be borrowed. Say no more than 10% over an annual tuition cost at that specific college. I have a friend who took out thousands more each semester and now is struggling to pay it back because she didn't understand what she was doing at the time.
Which brings me to third. There needs to be financial education in all high schools and the first year of college talking about interest rates and exactly how to pay back college loans and refinancing options.

This became a "crisis" during Obama's term when the federal government took over student loans.
https://www.investors.com/politics/editorials/obama-created-student-loan-crisis-with-1-trillion-in-loans/

Prior to this horrible legislation, the interest rates on loans were much more competitive.
So, you can thank Obama.

Lol what? Stafford loan interest rates were in the 6%+ range in the 2000s versus under 3% today. What are you smoking?

Ours weren't. Ours were under 3%.
And, if loans are under 3%, why are people whining?

[Anonymous]

It needs to be socially normalized on the May 1st college T-shirt day for kids with SATs in the 1500s to go to JMU or Nova CC if that’s what they can afford and feel comfortable going to. The stigma of lower-tier colleges is designed to make teenagers feel bad about themselves.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:A few things would help the situation now and in the future. Immediately. All interest rates need to be lowered to a manageable level. One of my friends has a 20% interest rate. If that was lowered to even five or 8% that would be helpful. I got mine repaid back when they were all 2%.
Next we need to put a cap on college fees and the amount that can be borrowed. Say no more than 10% over an annual tuition cost at that specific college. I have a friend who took out thousands more each semester and now is struggling to pay it back because she didn't understand what she was doing at the time.
Which brings me to third. There needs to be financial education in all high schools and the first year of college talking about interest rates and exactly how to pay back college loans and refinancing options.

This became a "crisis" during Obama's term when the federal government took over student loans.
https://www.investors.com/politics/editorials/obama-created-student-loan-crisis-with-1-trillion-in-loans/

Prior to this horrible legislation, the interest rates on loans were much more competitive.
So, you can thank Obama.

Lol what? Stafford loan interest rates were in the 6%+ range in the 2000s versus under 3% today. What are you smoking?

Ours weren't. Ours were under 3%.
And, if loans are under 3%, why are people whining?

I meant loans issued in recent years. Students entering undergrad in 2020 have 2.7% interest rate.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I mean if they're going to be forgiving your student debt they better be prepared to retroactively reimburse everyone. While some of you where whooping it up having a fun college experience, some of us had our nose to the grindstone going to school and working to finance the tuition. You know? You make choices, now live with them.

Why would you think you are entitled to any reimbursement? Amazing how boomers come up with creative ways to grift. Sorry student loan forgiveness triggers some of you but you better get comfortable with it.

WAIT. Let me get your thinking figured out. You're saying you're entitled to loan forgiveness, but I've got some sort of nerve to demand retroactive reimbursement for tuition?

Your logic sucks.

First of all, I said that tongue in cheek, trying to illustrate that my asking for reimbursement is as silly as you asking for loan forgiveness. It's YOUR loan. You chose to take out the loan, so pay it back. You're the grifter.

I was the one who figured out that if I didn't want to take out loans I needed to work twice as hard as you did during your college years, because I was working and going to school. And you're calling me a grifter? WHAT?

You don't have student loans so have no stake in student loan forgiveness. Do you also stomp your feet in front of the food stamp offices demanding reimbursement for buying your own groceries? Is the government going to give you money for paying rent when others had their payments paused? Nope!

Good job paying off your loans though. We can all be proud of you for that.

No point in arguing with crazy like you. We're talking about loans taken out voluntarily, we're not talking about food stamps. Exactly why do you think it's appropriate to conflate apples and oranges?

Exactly. Young adults take out credit card debt, payday loans, and auto loans. Should we forgive that too? In fact, lower income people tend to hold more of these kinds of debts. It would be more fair to forgive that before student loans held by higher income households.

You can declare bankruptcy on all of those kinds of debt, but you can’t on federal student loans. You can, with great difficulty, declare bankruptcy on private loans.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Maybe people should have to take IQ tests before being allowed to sign contracts. Because it seems like "I was too dumb to understand what I signed" is trying to be passed off as a valid excuse for defaulting.

The parents are the ones doing the defaulting. Parents enter into ''agreements'' with their kids for Parent Plus Loans that even though it technically belongs to both the parent and the kid, the kid is usually the one expected to pay.

Maybe, I don't know, schools shouldn't have a COA that is the yearly equivalent of the yearly median income in some municipalities.

Maybe people should stop matriculating to these schools, and they would lower their fees. Why should they when they have more students than they can take? No one is making you go!

Employers of the most desirable jobs (WFH desk jobs) indeed require degrees.

Well, if you don't agree with the tuition they charge, I guess you should choose a non-degree job. Stop acting like a college education is an entitlement. Its not!

I went to college long ago, when you could pay tuition with a summer job. And I don’t think college pricing should be set up like customers choosing a car because a teenager has no control over the economic standing of their family. You’ve basically admitted that you think universities should care about how much money you parents have rather than how good of a student you are.

Correct. I don't believe college is an entitlement and that everyone should get to go regardless of cost or financial situation. You should not be able to borrow money that you can't pay back.