What is going on with student loans?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:get over it guys and gals, the irresponsible people will get some sort of relief for perusing low paying careers and taking out a bunch of loans without any thought on how they would pay it back and the tax payers will fork the bill. thank you!!

Do you realize that the “irresponsible people” who decide to take out these loans are HIGH SCHOOL SENIORS? We make high schoolers decide where they will go to college and how they will finance it. They make these decisions when they are 17 or 18. Do you really think they understand that they will actually have to pay back thousands upon thousands more than they received? I have 2 college students. It was never explained to them that they will have to pay it back several times over. Fortunately, my kids have parents who helped them understand this, have some college savings for them, and will help them pay back the loans. Many kids do not have parents who can or will help them. If their own parents didn’t go to college, then they probably don’t have a clear understanding either. Yes, a college senior is old enough to understand the concept of loans and interest…but not to this magnitude. My kids’ colleges offered them thousands in loans, and it was never laid out for them that if they make minimum payments, it will take this many years, and they will end up paying this amount.

Even if it was laid out for them, high schoolers have no idea what their income and expenses will be in five years or twenty years. Ridiculous that we let children commit to these astronomical loans and then half the country calls them irresponsible for getting in this position. Even though, if they avoided it by working low-wage blue collar jobs instead of college, half the country will call them lazy and say those jobs aren’t meant for adults. They can’t win.

Which is why it’s good that 18-22 year olds are limited in the amount of money they can take out on their own. The problem is graduate school loans and parents taking out and co-signing private loans. You’d think a parent would know better than to sign up their kid for $20k a year in loans. What kid is going to tell their parent no?

Believe me, students are given more than enough loans to get themselves into financial trouble. And most graduate students still don’t have enough real world experience to understand what they are signing up for. They have only known home and college life. We take out loans for cars/houses based on our current financial situation. Students are expected to predict what their future expenses and salary will be and budget their entire future before their brain is fully developed.

And many parents don’t know better. My own parents are smart and financially responsible. But they didn’t go to college. My siblings and I all went to our hometown college and lived at home. Our tuition was less than $1K. When my kids were little and I talked about saving for their college, my mom said that it’s not that bad and people make it sound worse than it is. She said, “We just put it on a low interest credit card and paid it off throughout the year.” So…that’s the kind of advice a lot of kids are getting and the expectations many parents have and plan for over the years.

Btw, tuition at my hometown college is now over $8K.

Which makes it substantially cheaper than DC area preschool tuition, which no one can get a loan to cover.

I don’t know of any career fields or state colleges that care what preschool you went to or if you even went to preschool. Can we stop reaching for these ridiculous comparisons?

Let me try to spell this out for you. If I want to be a nurse, I HAVE to go to college. I don’t have to go to preschool. I can go my entire life without taking on a car loan or mortgage or credit card. But I am required to get that degree. Do you understand the difference?

And if you want to be a nurse and have a family, you will require childcare. Which one cannot take out a loan and costs just as much as tuition.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:get over it guys and gals, the irresponsible people will get some sort of relief for perusing low paying careers and taking out a bunch of loans without any thought on how they would pay it back and the tax payers will fork the bill. thank you!!

Do you realize that the “irresponsible people” who decide to take out these loans are HIGH SCHOOL SENIORS? We make high schoolers decide where they will go to college and how they will finance it. They make these decisions when they are 17 or 18. Do you really think they understand that they will actually have to pay back thousands upon thousands more than they received? I have 2 college students. It was never explained to them that they will have to pay it back several times over. Fortunately, my kids have parents who helped them understand this, have some college savings for them, and will help them pay back the loans. Many kids do not have parents who can or will help them. If their own parents didn’t go to college, then they probably don’t have a clear understanding either. Yes, a college senior is old enough to understand the concept of loans and interest…but not to this magnitude. My kids’ colleges offered them thousands in loans, and it was never laid out for them that if they make minimum payments, it will take this many years, and they will end up paying this amount.

Even if it was laid out for them, high schoolers have no idea what their income and expenses will be in five years or twenty years. Ridiculous that we let children commit to these astronomical loans and then half the country calls them irresponsible for getting in this position. Even though, if they avoided it by working low-wage blue collar jobs instead of college, half the country will call them lazy and say those jobs aren’t meant for adults. They can’t win.

Which is why it’s good that 18-22 year olds are limited in the amount of money they can take out on their own. The problem is graduate school loans and parents taking out and co-signing private loans. You’d think a parent would know better than to sign up their kid for $20k a year in loans. What kid is going to tell their parent no?

Believe me, students are given more than enough loans to get themselves into financial trouble. And most graduate students still don’t have enough real world experience to understand what they are signing up for. They have only known home and college life. We take out loans for cars/houses based on our current financial situation. Students are expected to predict what their future expenses and salary will be and budget their entire future before their brain is fully developed.

And many parents don’t know better. My own parents are smart and financially responsible. But they didn’t go to college. My siblings and I all went to our hometown college and lived at home. Our tuition was less than $1K. When my kids were little and I talked about saving for their college, my mom said that it’s not that bad and people make it sound worse than it is. She said, “We just put it on a low interest credit card and paid it off throughout the year.” So…that’s the kind of advice a lot of kids are getting and the expectations many parents have and plan for over the years.

Btw, tuition at my hometown college is now over $8K.

Which makes it substantially cheaper than DC area preschool tuition, which no one can get a loan to cover.

I don’t know of any career fields or state colleges that care what preschool you went to or if you even went to preschool. Can we stop reaching for these ridiculous comparisons?

Let me try to spell this out for you. If I want to be a nurse, I HAVE to go to college. I don’t have to go to preschool. I can go my entire life without taking on a car loan or mortgage or credit card. But I am required to get that degree. Do you understand the difference?

And, if you have your entire school age years to save up for that much desired degree. That is what many of us did. Then, if we needed student loans, we sacrificed vacations, new cars, and other "luxuries" in order to pay off those loans. Never went on a spring break trip.
You took out a loan? Pay it back.

That is not what business owners do. Business owners take loans and expense them, thus reducing their tax obligations.


DP.
I went to school to become a lawyer. Without that law degree I cannot practice law. I should be able to expense my student loans like business owners do. Why am I paying my loans with after tax dollars?

The PP should be able to expense the cost of nursing school.

Lololol. Who will you “expense” these loans to? Be specific.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:get over it guys and gals, the irresponsible people will get some sort of relief for perusing low paying careers and taking out a bunch of loans without any thought on how they would pay it back and the tax payers will fork the bill. thank you!!

Do you realize that the “irresponsible people” who decide to take out these loans are HIGH SCHOOL SENIORS? We make high schoolers decide where they will go to college and how they will finance it. They make these decisions when they are 17 or 18. Do you really think they understand that they will actually have to pay back thousands upon thousands more than they received? I have 2 college students. It was never explained to them that they will have to pay it back several times over. Fortunately, my kids have parents who helped them understand this, have some college savings for them, and will help them pay back the loans. Many kids do not have parents who can or will help them. If their own parents didn’t go to college, then they probably don’t have a clear understanding either. Yes, a college senior is old enough to understand the concept of loans and interest…but not to this magnitude. My kids’ colleges offered them thousands in loans, and it was never laid out for them that if they make minimum payments, it will take this many years, and they will end up paying this amount.

Even if it was laid out for them, high schoolers have no idea what their income and expenses will be in five years or twenty years. Ridiculous that we let children commit to these astronomical loans and then half the country calls them irresponsible for getting in this position. Even though, if they avoided it by working low-wage blue collar jobs instead of college, half the country will call them lazy and say those jobs aren’t meant for adults. They can’t win.

Which is why it’s good that 18-22 year olds are limited in the amount of money they can take out on their own. The problem is graduate school loans and parents taking out and co-signing private loans. You’d think a parent would know better than to sign up their kid for $20k a year in loans. What kid is going to tell their parent no?

Believe me, students are given more than enough loans to get themselves into financial trouble. And most graduate students still don’t have enough real world experience to understand what they are signing up for. They have only known home and college life. We take out loans for cars/houses based on our current financial situation. Students are expected to predict what their future expenses and salary will be and budget their entire future before their brain is fully developed.

And many parents don’t know better. My own parents are smart and financially responsible. But they didn’t go to college. My siblings and I all went to our hometown college and lived at home. Our tuition was less than $1K. When my kids were little and I talked about saving for their college, my mom said that it’s not that bad and people make it sound worse than it is. She said, “We just put it on a low interest credit card and paid it off throughout the year.” So…that’s the kind of advice a lot of kids are getting and the expectations many parents have and plan for over the years.

Btw, tuition at my hometown college is now over $8K.

Which makes it substantially cheaper than DC area preschool tuition, which no one can get a loan to cover.

I don’t know of any career fields or state colleges that care what preschool you went to or if you even went to preschool. Can we stop reaching for these ridiculous comparisons?

Let me try to spell this out for you. If I want to be a nurse, I HAVE to go to college. I don’t have to go to preschool. I can go my entire life without taking on a car loan or mortgage or credit card. But I am required to get that degree. Do you understand the difference?

And, if you have your entire school age years to save up for that much desired degree. That is what many of us did. Then, if we needed student loans, we sacrificed vacations, new cars, and other "luxuries" in order to pay off those loans. Never went on a spring break trip.
You took out a loan? Pay it back.

That is not what business owners do. Business owners take loans and expense them, thus reducing their tax obligations.


DP.
I went to school to become a lawyer. Without that law degree I cannot practice law. I should be able to expense my student loans like business owners do. Why am I paying my loans with after tax dollars?

The PP should be able to expense the cost of nursing school.

Lololol. Who will you “expense” these loans to? Be specific.

Republican, and I could live with the pp's proposal, actually. I find it annoying how much the tax code is slanted toward business owners while employees cant claim identical expenses.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Fix the system, don’t put a useless bandaid on problematic outcomes. Typical democrat strategy to buy votes but fix nothing.

Republicans aren’t talking about it all. No solutions.
Just nothing.

There is nothing to discuss. People willing took out loans, so they need to repay their debt. The end.

Once again, these loans prey on kids. A 17 or 18 year old does not understand what they are getting into. And nobody explains to them that $60k in loans will end up costing them several hundred thousand over the course of their life. I watched my own kids get offers and accept loans. None of this was laid out for them.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:get over it guys and gals, the irresponsible people will get some sort of relief for perusing low paying careers and taking out a bunch of loans without any thought on how they would pay it back and the tax payers will fork the bill. thank you!!

Do you realize that the “irresponsible people” who decide to take out these loans are HIGH SCHOOL SENIORS? We make high schoolers decide where they will go to college and how they will finance it. They make these decisions when they are 17 or 18. Do you really think they understand that they will actually have to pay back thousands upon thousands more than they received? I have 2 college students. It was never explained to them that they will have to pay it back several times over. Fortunately, my kids have parents who helped them understand this, have some college savings for them, and will help them pay back the loans. Many kids do not have parents who can or will help them. If their own parents didn’t go to college, then they probably don’t have a clear understanding either. Yes, a college senior is old enough to understand the concept of loans and interest…but not to this magnitude. My kids’ colleges offered them thousands in loans, and it was never laid out for them that if they make minimum payments, it will take this many years, and they will end up paying this amount.

Even if it was laid out for them, high schoolers have no idea what their income and expenses will be in five years or twenty years. Ridiculous that we let children commit to these astronomical loans and then half the country calls them irresponsible for getting in this position. Even though, if they avoided it by working low-wage blue collar jobs instead of college, half the country will call them lazy and say those jobs aren’t meant for adults. They can’t win.

Which is why it’s good that 18-22 year olds are limited in the amount of money they can take out on their own. The problem is graduate school loans and parents taking out and co-signing private loans. You’d think a parent would know better than to sign up their kid for $20k a year in loans. What kid is going to tell their parent no?

Believe me, students are given more than enough loans to get themselves into financial trouble. And most graduate students still don’t have enough real world experience to understand what they are signing up for. They have only known home and college life. We take out loans for cars/houses based on our current financial situation. Students are expected to predict what their future expenses and salary will be and budget their entire future before their brain is fully developed.

And many parents don’t know better. My own parents are smart and financially responsible. But they didn’t go to college. My siblings and I all went to our hometown college and lived at home. Our tuition was less than $1K. When my kids were little and I talked about saving for their college, my mom said that it’s not that bad and people make it sound worse than it is. She said, “We just put it on a low interest credit card and paid it off throughout the year.” So…that’s the kind of advice a lot of kids are getting and the expectations many parents have and plan for over the years.

Btw, tuition at my hometown college is now over $8K.

Which makes it substantially cheaper than DC area preschool tuition, which no one can get a loan to cover.

I don’t know of any career fields or state colleges that care what preschool you went to or if you even went to preschool. Can we stop reaching for these ridiculous comparisons?

Let me try to spell this out for you. If I want to be a nurse, I HAVE to go to college. I don’t have to go to preschool. I can go my entire life without taking on a car loan or mortgage or credit card. But I am required to get that degree. Do you understand the difference?

And, if you have your entire school age years to save up for that much desired degree. That is what many of us did. Then, if we needed student loans, we sacrificed vacations, new cars, and other "luxuries" in order to pay off those loans. Never went on a spring break trip.
You took out a loan? Pay it back.

My word. This just keeps getting worse. Now we expect kindergartners to start saving for college?

Actually, kindergarteners need to learn about the value of money. There are ways to teach kids to save and spend. My parents taught me from the time I started earning an allowance. We taught our kids the same way. It is amazing how quickly the learn!

YOUR ALLOWANCE CAME FROM YOUR PARENTS! So if you paid for college with a lifetime of allowance, your parents’ money still paid for your college! The fact that you unloaded the dishwasher did not free your parents from the financial burden of paying you what must haves been a very lucrative allowance! Many parents can’t afford to pay their kids $80k in allowance over the years because they are busy paying off their own loans. Which brings us back to the heart of the issue.

Oh, FFS. They STARTED teaching me with my allowance. I also worked a job in HS - two during the summer - and two jobs in the summer during my college years.
If you want to save, you can.

Wow you were able to make enough working part time in hs and college to cover all of your college expenses. That’s great! Where do you work? I also worked throughout hs and college. I didn’t come anywhere near $20k per year, especially after paying my other expenses such as gas and car insurance.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:get over it guys and gals, the irresponsible people will get some sort of relief for perusing low paying careers and taking out a bunch of loans without any thought on how they would pay it back and the tax payers will fork the bill. thank you!!

Do you realize that the “irresponsible people” who decide to take out these loans are HIGH SCHOOL SENIORS? We make high schoolers decide where they will go to college and how they will finance it. They make these decisions when they are 17 or 18. Do you really think they understand that they will actually have to pay back thousands upon thousands more than they received? I have 2 college students. It was never explained to them that they will have to pay it back several times over. Fortunately, my kids have parents who helped them understand this, have some college savings for them, and will help them pay back the loans. Many kids do not have parents who can or will help them. If their own parents didn’t go to college, then they probably don’t have a clear understanding either. Yes, a college senior is old enough to understand the concept of loans and interest…but not to this magnitude. My kids’ colleges offered them thousands in loans, and it was never laid out for them that if they make minimum payments, it will take this many years, and they will end up paying this amount.

Even if it was laid out for them, high schoolers have no idea what their income and expenses will be in five years or twenty years. Ridiculous that we let children commit to these astronomical loans and then half the country calls them irresponsible for getting in this position. Even though, if they avoided it by working low-wage blue collar jobs instead of college, half the country will call them lazy and say those jobs aren’t meant for adults. They can’t win.

Which is why it’s good that 18-22 year olds are limited in the amount of money they can take out on their own. The problem is graduate school loans and parents taking out and co-signing private loans. You’d think a parent would know better than to sign up their kid for $20k a year in loans. What kid is going to tell their parent no?

Believe me, students are given more than enough loans to get themselves into financial trouble. And most graduate students still don’t have enough real world experience to understand what they are signing up for. They have only known home and college life. We take out loans for cars/houses based on our current financial situation. Students are expected to predict what their future expenses and salary will be and budget their entire future before their brain is fully developed.

And many parents don’t know better. My own parents are smart and financially responsible. But they didn’t go to college. My siblings and I all went to our hometown college and lived at home. Our tuition was less than $1K. When my kids were little and I talked about saving for their college, my mom said that it’s not that bad and people make it sound worse than it is. She said, “We just put it on a low interest credit card and paid it off throughout the year.” So…that’s the kind of advice a lot of kids are getting and the expectations many parents have and plan for over the years.

Btw, tuition at my hometown college is now over $8K.

Which makes it substantially cheaper than DC area preschool tuition, which no one can get a loan to cover.

I don’t know of any career fields or state colleges that care what preschool you went to or if you even went to preschool. Can we stop reaching for these ridiculous comparisons?

Let me try to spell this out for you. If I want to be a nurse, I HAVE to go to college. I don’t have to go to preschool. I can go my entire life without taking on a car loan or mortgage or credit card. But I am required to get that degree. Do you understand the difference?

And, if you have your entire school age years to save up for that much desired degree. That is what many of us did. Then, if we needed student loans, we sacrificed vacations, new cars, and other "luxuries" in order to pay off those loans. Never went on a spring break trip.
You took out a loan? Pay it back.

My word. This just keeps getting worse. Now we expect kindergartners to start saving for college?

Actually, kindergarteners need to learn about the value of money. There are ways to teach kids to save and spend. My parents taught me from the time I started earning an allowance. We taught our kids the same way. It is amazing how quickly the learn!

YOUR ALLOWANCE CAME FROM YOUR PARENTS! So if you paid for college with a lifetime of allowance, your parents’ money still paid for your college! The fact that you unloaded the dishwasher did not free your parents from the financial burden of paying you what must haves been a very lucrative allowance! Many parents can’t afford to pay their kids $80k in allowance over the years because they are busy paying off their own loans. Which brings us back to the heart of the issue.

Oh, FFS. They STARTED teaching me with my allowance. I also worked a job in HS - two during the summer - and two jobs in the summer during my college years.
If you want to save, you can.

Wow you were able to make enough working part time in hs and college to cover all of your college expenses. That’s great! Where do you work? I also worked throughout hs and college. I didn’t come anywhere near $20k per year, especially after paying my other expenses such as gas and car insurance.

Maybe they were an escort.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:get over it guys and gals, the irresponsible people will get some sort of relief for perusing low paying careers and taking out a bunch of loans without any thought on how they would pay it back and the tax payers will fork the bill. thank you!!

Do you realize that the “irresponsible people” who decide to take out these loans are HIGH SCHOOL SENIORS? We make high schoolers decide where they will go to college and how they will finance it. They make these decisions when they are 17 or 18. Do you really think they understand that they will actually have to pay back thousands upon thousands more than they received? I have 2 college students. It was never explained to them that they will have to pay it back several times over. Fortunately, my kids have parents who helped them understand this, have some college savings for them, and will help them pay back the loans. Many kids do not have parents who can or will help them. If their own parents didn’t go to college, then they probably don’t have a clear understanding either. Yes, a college senior is old enough to understand the concept of loans and interest…but not to this magnitude. My kids’ colleges offered them thousands in loans, and it was never laid out for them that if they make minimum payments, it will take this many years, and they will end up paying this amount.

Even if it was laid out for them, high schoolers have no idea what their income and expenses will be in five years or twenty years. Ridiculous that we let children commit to these astronomical loans and then half the country calls them irresponsible for getting in this position. Even though, if they avoided it by working low-wage blue collar jobs instead of college, half the country will call them lazy and say those jobs aren’t meant for adults. They can’t win.

Which is why it’s good that 18-22 year olds are limited in the amount of money they can take out on their own. The problem is graduate school loans and parents taking out and co-signing private loans. You’d think a parent would know better than to sign up their kid for $20k a year in loans. What kid is going to tell their parent no?

Believe me, students are given more than enough loans to get themselves into financial trouble. And most graduate students still don’t have enough real world experience to understand what they are signing up for. They have only known home and college life. We take out loans for cars/houses based on our current financial situation. Students are expected to predict what their future expenses and salary will be and budget their entire future before their brain is fully developed.

And many parents don’t know better. My own parents are smart and financially responsible. But they didn’t go to college. My siblings and I all went to our hometown college and lived at home. Our tuition was less than $1K. When my kids were little and I talked about saving for their college, my mom said that it’s not that bad and people make it sound worse than it is. She said, “We just put it on a low interest credit card and paid it off throughout the year.” So…that’s the kind of advice a lot of kids are getting and the expectations many parents have and plan for over the years.

Btw, tuition at my hometown college is now over $8K.

Which makes it substantially cheaper than DC area preschool tuition, which no one can get a loan to cover.

I don’t know of any career fields or state colleges that care what preschool you went to or if you even went to preschool. Can we stop reaching for these ridiculous comparisons?

Let me try to spell this out for you. If I want to be a nurse, I HAVE to go to college. I don’t have to go to preschool. I can go my entire life without taking on a car loan or mortgage or credit card. But I am required to get that degree. Do you understand the difference?

And, if you have your entire school age years to save up for that much desired degree. That is what many of us did. Then, if we needed student loans, we sacrificed vacations, new cars, and other "luxuries" in order to pay off those loans. Never went on a spring break trip.
You took out a loan? Pay it back.

My word. This just keeps getting worse. Now we expect kindergartners to start saving for college?

Actually, kindergarteners need to learn about the value of money. There are ways to teach kids to save and spend. My parents taught me from the time I started earning an allowance. We taught our kids the same way. It is amazing how quickly the learn!

YOUR ALLOWANCE CAME FROM YOUR PARENTS! So if you paid for college with a lifetime of allowance, your parents’ money still paid for your college! The fact that you unloaded the dishwasher did not free your parents from the financial burden of paying you what must haves been a very lucrative allowance! Many parents can’t afford to pay their kids $80k in allowance over the years because they are busy paying off their own loans. Which brings us back to the heart of the issue.

Oh, FFS. They STARTED teaching me with my allowance. I also worked a job in HS - two during the summer - and two jobs in the summer during my college years.
If you want to save, you can.

Wow you were able to make enough working part time in hs and college to cover all of your college expenses. That’s great! Where do you work? I also worked throughout hs and college. I didn’t come anywhere near $20k per year, especially after paying my other expenses such as gas and car insurance.

Oh, sweetie... I worked since I was 12. Babysat quite a bit. Then, waitressed and worked summer rec. I worked A LOT!
I saved nearly everything I made. I didn't buy a lot of clothes or other personal items. I didn't vacation. You could say I was boring. I worked, played sports, and saved money.

[Anonymous]

Why should working class people who had NOTHING TO DO with these loans bail out those who made bad decisions?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:get over it guys and gals, the irresponsible people will get some sort of relief for perusing low paying careers and taking out a bunch of loans without any thought on how they would pay it back and the tax payers will fork the bill. thank you!!

Do you realize that the “irresponsible people” who decide to take out these loans are HIGH SCHOOL SENIORS? We make high schoolers decide where they will go to college and how they will finance it. They make these decisions when they are 17 or 18. Do you really think they understand that they will actually have to pay back thousands upon thousands more than they received? I have 2 college students. It was never explained to them that they will have to pay it back several times over. Fortunately, my kids have parents who helped them understand this, have some college savings for them, and will help them pay back the loans. Many kids do not have parents who can or will help them. If their own parents didn’t go to college, then they probably don’t have a clear understanding either. Yes, a college senior is old enough to understand the concept of loans and interest…but not to this magnitude. My kids’ colleges offered them thousands in loans, and it was never laid out for them that if they make minimum payments, it will take this many years, and they will end up paying this amount.

Even if it was laid out for them, high schoolers have no idea what their income and expenses will be in five years or twenty years. Ridiculous that we let children commit to these astronomical loans and then half the country calls them irresponsible for getting in this position. Even though, if they avoided it by working low-wage blue collar jobs instead of college, half the country will call them lazy and say those jobs aren’t meant for adults. They can’t win.

Which is why it’s good that 18-22 year olds are limited in the amount of money they can take out on their own. The problem is graduate school loans and parents taking out and co-signing private loans. You’d think a parent would know better than to sign up their kid for $20k a year in loans. What kid is going to tell their parent no?

Believe me, students are given more than enough loans to get themselves into financial trouble. And most graduate students still don’t have enough real world experience to understand what they are signing up for. They have only known home and college life. We take out loans for cars/houses based on our current financial situation. Students are expected to predict what their future expenses and salary will be and budget their entire future before their brain is fully developed.

And many parents don’t know better. My own parents are smart and financially responsible. But they didn’t go to college. My siblings and I all went to our hometown college and lived at home. Our tuition was less than $1K. When my kids were little and I talked about saving for their college, my mom said that it’s not that bad and people make it sound worse than it is. She said, “We just put it on a low interest credit card and paid it off throughout the year.” So…that’s the kind of advice a lot of kids are getting and the expectations many parents have and plan for over the years.

Btw, tuition at my hometown college is now over $8K.

Which makes it substantially cheaper than DC area preschool tuition, which no one can get a loan to cover.

I don’t know of any career fields or state colleges that care what preschool you went to or if you even went to preschool. Can we stop reaching for these ridiculous comparisons?

Let me try to spell this out for you. If I want to be a nurse, I HAVE to go to college. I don’t have to go to preschool. I can go my entire life without taking on a car loan or mortgage or credit card. But I am required to get that degree. Do you understand the difference?

And, if you have your entire school age years to save up for that much desired degree. That is what many of us did. Then, if we needed student loans, we sacrificed vacations, new cars, and other "luxuries" in order to pay off those loans. Never went on a spring break trip.
You took out a loan? Pay it back.

My word. This just keeps getting worse. Now we expect kindergartners to start saving for college?

Actually, kindergarteners need to learn about the value of money. There are ways to teach kids to save and spend. My parents taught me from the time I started earning an allowance. We taught our kids the same way. It is amazing how quickly the learn!

YOUR ALLOWANCE CAME FROM YOUR PARENTS! So if you paid for college with a lifetime of allowance, your parents’ money still paid for your college! The fact that you unloaded the dishwasher did not free your parents from the financial burden of paying you what must haves been a very lucrative allowance! Many parents can’t afford to pay their kids $80k in allowance over the years because they are busy paying off their own loans. Which brings us back to the heart of the issue.

Oh, FFS. They STARTED teaching me with my allowance. I also worked a job in HS - two during the summer - and two jobs in the summer during my college years.
If you want to save, you can.

There are a lot of kids who don’t get to work in hs and college for a multitude of reasons. A lot of them have to take care of younger siblings or sick parents. Or they have a learning disability and need to focus almost all their free time n school work. Or they go to hs in very small towns with very few teen jobs. Not everyone is in a situation identical to yours.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Fix the system, don’t put a useless bandaid on problematic outcomes. Typical democrat strategy to buy votes but fix nothing.

Republicans aren’t talking about it all. No solutions.
Just nothing.

There is nothing to discuss. People willing took out loans, so they need to repay their debt. The end.

Once again, these loans prey on kids. A 17 or 18 year old does not understand what they are getting into. And nobody explains to them that $60k in loans will end up costing them several hundred thousand over the course of their life. I watched my own kids get offers and accept loans. None of this was laid out for them.

There were a lot of 17 and 18 year olds at my state school who didn't take out $60k in loans. Sorry that other 17 and 18 year old were chasing status and paid full freight at ritzy private schools.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Fix the system, don’t put a useless bandaid on problematic outcomes. Typical democrat strategy to buy votes but fix nothing.

Republicans aren’t talking about it all. No solutions.
Just nothing.

There is nothing to discuss. People willing took out loans, so they need to repay their debt. The end.

Once again, these loans prey on kids. A 17 or 18 year old does not understand what they are getting into. And nobody explains to them that $60k in loans will end up costing them several hundred thousand over the course of their life. I watched my own kids get offers and accept loans. None of this was laid out for them.

There were a lot of 17 and 18 year olds at my state school who didn't take out $60k in loans. Sorry that other 17 and 18 year old were chasing status and paid full freight at ritzy private schools.

60k is full pay at a state school.......not private. And 60k of unsubsidized loans is easily 80-100k by graduation.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:get over it guys and gals, the irresponsible people will get some sort of relief for perusing low paying careers and taking out a bunch of loans without any thought on how they would pay it back and the tax payers will fork the bill. thank you!!

Do you realize that the “irresponsible people” who decide to take out these loans are HIGH SCHOOL SENIORS? We make high schoolers decide where they will go to college and how they will finance it. They make these decisions when they are 17 or 18. Do you really think they understand that they will actually have to pay back thousands upon thousands more than they received? I have 2 college students. It was never explained to them that they will have to pay it back several times over. Fortunately, my kids have parents who helped them understand this, have some college savings for them, and will help them pay back the loans. Many kids do not have parents who can or will help them. If their own parents didn’t go to college, then they probably don’t have a clear understanding either. Yes, a college senior is old enough to understand the concept of loans and interest…but not to this magnitude. My kids’ colleges offered them thousands in loans, and it was never laid out for them that if they make minimum payments, it will take this many years, and they will end up paying this amount.

Even if it was laid out for them, high schoolers have no idea what their income and expenses will be in five years or twenty years. Ridiculous that we let children commit to these astronomical loans and then half the country calls them irresponsible for getting in this position. Even though, if they avoided it by working low-wage blue collar jobs instead of college, half the country will call them lazy and say those jobs aren’t meant for adults. They can’t win.

Which is why it’s good that 18-22 year olds are limited in the amount of money they can take out on their own. The problem is graduate school loans and parents taking out and co-signing private loans. You’d think a parent would know better than to sign up their kid for $20k a year in loans. What kid is going to tell their parent no?

Believe me, students are given more than enough loans to get themselves into financial trouble. And most graduate students still don’t have enough real world experience to understand what they are signing up for. They have only known home and college life. We take out loans for cars/houses based on our current financial situation. Students are expected to predict what their future expenses and salary will be and budget their entire future before their brain is fully developed.

And many parents don’t know better. My own parents are smart and financially responsible. But they didn’t go to college. My siblings and I all went to our hometown college and lived at home. Our tuition was less than $1K. When my kids were little and I talked about saving for their college, my mom said that it’s not that bad and people make it sound worse than it is. She said, “We just put it on a low interest credit card and paid it off throughout the year.” So…that’s the kind of advice a lot of kids are getting and the expectations many parents have and plan for over the years.

Btw, tuition at my hometown college is now over $8K.

Which makes it substantially cheaper than DC area preschool tuition, which no one can get a loan to cover.

I don’t know of any career fields or state colleges that care what preschool you went to or if you even went to preschool. Can we stop reaching for these ridiculous comparisons?

Let me try to spell this out for you. If I want to be a nurse, I HAVE to go to college. I don’t have to go to preschool. I can go my entire life without taking on a car loan or mortgage or credit card. But I am required to get that degree. Do you understand the difference?

And, if you have your entire school age years to save up for that much desired degree. That is what many of us did. Then, if we needed student loans, we sacrificed vacations, new cars, and other "luxuries" in order to pay off those loans. Never went on a spring break trip.
You took out a loan? Pay it back.

My word. This just keeps getting worse. Now we expect kindergartners to start saving for college?

Actually, kindergarteners need to learn about the value of money. There are ways to teach kids to save and spend. My parents taught me from the time I started earning an allowance. We taught our kids the same way. It is amazing how quickly the learn!

YOUR ALLOWANCE CAME FROM YOUR PARENTS! So if you paid for college with a lifetime of allowance, your parents’ money still paid for your college! The fact that you unloaded the dishwasher did not free your parents from the financial burden of paying you what must haves been a very lucrative allowance! Many parents can’t afford to pay their kids $80k in allowance over the years because they are busy paying off their own loans. Which brings us back to the heart of the issue.

Oh, FFS. They STARTED teaching me with my allowance. I also worked a job in HS - two during the summer - and two jobs in the summer during my college years.
If you want to save, you can.

Wow you were able to make enough working part time in hs and college to cover all of your college expenses. That’s great! Where do you work? I also worked throughout hs and college. I didn’t come anywhere near $20k per year, especially after paying my other expenses such as gas and car insurance.

Oh, sweetie... I worked since I was 12. Babysat quite a bit. Then, waitressed and worked summer rec. I worked A LOT!
I saved nearly everything I made. I didn't buy a lot of clothes or other personal items. I didn't vacation. You could say I was boring. I worked, played sports, and saved money.

So your parents paid for all your trips, clothes, and sports expenses? Must be nice.

[Anonymous]

Anonymous wrote:Why should working class people who had NOTHING TO DO with these loans bail out those who made bad decisions?

The working class are the ones getting bailed out by $10K forgiveness. The government has my tax monies and I want some of it back.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:get over it guys and gals, the irresponsible people will get some sort of relief for perusing low paying careers and taking out a bunch of loans without any thought on how they would pay it back and the tax payers will fork the bill. thank you!!

Do you realize that the “irresponsible people” who decide to take out these loans are HIGH SCHOOL SENIORS? We make high schoolers decide where they will go to college and how they will finance it. They make these decisions when they are 17 or 18. Do you really think they understand that they will actually have to pay back thousands upon thousands more than they received? I have 2 college students. It was never explained to them that they will have to pay it back several times over. Fortunately, my kids have parents who helped them understand this, have some college savings for them, and will help them pay back the loans. Many kids do not have parents who can or will help them. If their own parents didn’t go to college, then they probably don’t have a clear understanding either. Yes, a college senior is old enough to understand the concept of loans and interest…but not to this magnitude. My kids’ colleges offered them thousands in loans, and it was never laid out for them that if they make minimum payments, it will take this many years, and they will end up paying this amount.

Even if it was laid out for them, high schoolers have no idea what their income and expenses will be in five years or twenty years. Ridiculous that we let children commit to these astronomical loans and then half the country calls them irresponsible for getting in this position. Even though, if they avoided it by working low-wage blue collar jobs instead of college, half the country will call them lazy and say those jobs aren’t meant for adults. They can’t win.

Which is why it’s good that 18-22 year olds are limited in the amount of money they can take out on their own. The problem is graduate school loans and parents taking out and co-signing private loans. You’d think a parent would know better than to sign up their kid for $20k a year in loans. What kid is going to tell their parent no?

Believe me, students are given more than enough loans to get themselves into financial trouble. And most graduate students still don’t have enough real world experience to understand what they are signing up for. They have only known home and college life. We take out loans for cars/houses based on our current financial situation. Students are expected to predict what their future expenses and salary will be and budget their entire future before their brain is fully developed.

And many parents don’t know better. My own parents are smart and financially responsible. But they didn’t go to college. My siblings and I all went to our hometown college and lived at home. Our tuition was less than $1K. When my kids were little and I talked about saving for their college, my mom said that it’s not that bad and people make it sound worse than it is. She said, “We just put it on a low interest credit card and paid it off throughout the year.” So…that’s the kind of advice a lot of kids are getting and the expectations many parents have and plan for over the years.

Btw, tuition at my hometown college is now over $8K.

Which makes it substantially cheaper than DC area preschool tuition, which no one can get a loan to cover.

I don’t know of any career fields or state colleges that care what preschool you went to or if you even went to preschool. Can we stop reaching for these ridiculous comparisons?

Let me try to spell this out for you. If I want to be a nurse, I HAVE to go to college. I don’t have to go to preschool. I can go my entire life without taking on a car loan or mortgage or credit card. But I am required to get that degree. Do you understand the difference?

And, if you have your entire school age years to save up for that much desired degree. That is what many of us did. Then, if we needed student loans, we sacrificed vacations, new cars, and other "luxuries" in order to pay off those loans. Never went on a spring break trip.
You took out a loan? Pay it back.

My word. This just keeps getting worse. Now we expect kindergartners to start saving for college?

Actually, kindergarteners need to learn about the value of money. There are ways to teach kids to save and spend. My parents taught me from the time I started earning an allowance. We taught our kids the same way. It is amazing how quickly the learn!

YOUR ALLOWANCE CAME FROM YOUR PARENTS! So if you paid for college with a lifetime of allowance, your parents’ money still paid for your college! The fact that you unloaded the dishwasher did not free your parents from the financial burden of paying you what must haves been a very lucrative allowance! Many parents can’t afford to pay their kids $80k in allowance over the years because they are busy paying off their own loans. Which brings us back to the heart of the issue.

Oh, FFS. They STARTED teaching me with my allowance. I also worked a job in HS - two during the summer - and two jobs in the summer during my college years.
If you want to save, you can.

Wow you were able to make enough working part time in hs and college to cover all of your college expenses. That’s great! Where do you work? I also worked throughout hs and college. I didn’t come anywhere near $20k per year, especially after paying my other expenses such as gas and car insurance.

Oh, sweetie... I worked since I was 12. Babysat quite a bit. Then, waitressed and worked summer rec. I worked A LOT!
I saved nearly everything I made. I didn't buy a lot of clothes or other personal items. I didn't vacation. You could say I was boring. I worked, played sports, and saved money.

I suffered, so should everyone else! Just have your working class kid slave their way through a BA working 40 hours a week so they too can grow up to be a right wing wench who posts anti-student loan forgiveness bootstrap crap on message boards on a gorgeous summer weekend. A sure sign PP is super happy and fulfilled and has lots of friends, kids and grandkids who love to be around her.

Meanwhile, all the born rich and upper middle class kids have family paying cash. It is no wonder the class divide is broader than ever.

[Anonymous]

I'd rather my tax dollars go to poor young adults with some undergraduate debt than to yuppies who want a $7,500 discount Tesla they were already going to buy. Even more egregious, the TRILLIONS in PPP and Wall Street scams all the rich executives and financiers looted over the last two years.