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1   FortWayne   2018 Aug 20, 10:47am  

I do think this student loan scam by education indistrial complex got out of hand.

But at the same time wtf are people thinking getting huge loans? How dumb are some of these students, or where are parents looking. Where is that basic personal responsibility? You are those people screaming entitlement, and they always have zero responsibilities.
2   Evan F.   2018 Aug 20, 11:20am  

One of my good friends is sending his son to University of Chicago this fall. Tuition is something like $72,000/year. This, on top of sending his daughter to private school here in the Los Angeles area for something like $30k/year. Here's the funniest part- he makes like $250-300k a year and qualifies for need-based financial aid.. in this environment, he's one of the poors. It's lunacy.
3   🎂 Tenpoundbass   2018 Aug 20, 12:51pm  

I think thou prosteteth too damn much.

Most of the time we're talking about 25 to 35 thousand dollar loans. I don't know why these loans have to be so debilitating.
They must have terms worse than Store Credit cards issued to someone with already Bad Credit. Talk about terms setting people up to fail.
That unpaid $300 limit will balloon to $6000 in about 3 years, when Sherman Acquisitions buys it, and sits on it until you try to buy a car or a house.

I thought Poke Us Taunt Us fixed all that with the CFPB
4   EBGuy   2018 Aug 20, 12:52pm  

Who said indentured servitude is dead?
5   Evan F.   2018 Aug 20, 1:36pm  

Tenpoundbass says
Most of the time we're talking about 25 to 35 thousand dollar loans. I don't know why these loans have to be so debilitating.


Perhaps not, except that average income had stagnated for way too long against tuition rates that continue to climb unabated. Even with strong job numbers, it just means more people are working, not necessarily making more.

FWIW, Associate Justice Clarence Thomas was still paying off his student loans when he joined the Supreme Court. True story. Kids these days need to stop feeling entitled to the latest and greatest everything and pay off what they fucking owe.
6   ForcedTQ   2018 Aug 20, 2:35pm  

People using other people's money to purchase something that they don't have enough money for currently invariably causes that something to go up in price. There is a point where there isn't enough income gained by a position of employment or there are not enough positions of employment available to justify the cost of a college education. When you are using your own currency to facilitate, this point is more readily grasped, when it's OPM or visions of great income that most likely won't materialize, it's much harder.
7   Bd6r   2018 Aug 20, 2:58pm  

Evan F. says
One of my good friends is sending his son to University of Chicago this fall. Tuition is something like $72,000/year. This, on top of sending his daughter to private school here in the Los Angeles area for something like $30k/year. Here's the funniest part- he makes like $250-300k a year and qualifies for need-based financial aid.. in this environment, he's one of the poors. It's lunacy.


UIUC is a very good school and tuition there is about 15K a year - 4 yrs there would cost less than 1 year at U of Chicago. + Urbana-Champaign is not that expensive town.
8   MrMagic   2018 Aug 20, 3:04pm  

Evan F. says
Perhaps not, except that average income had stagnated for way too long against tuition rates that continue to climb unabated.


ForcedTQ says
People using other people's money to purchase something that they don't have enough money for currently invariably causes that something to go up in price.


Why did tuition rates rise so quick?

The government stuck their noses where it didn't belong.

and the taxpayers will get to take the losses for all those college loans that get defaulted on.

Thanks, Obama!
9   FuckTheMainstreamMedia   2018 Aug 20, 9:58pm  

Probably.

People should have used their intellectual capacity and lived at home and gone to state colleges where their student loan would be less than the price of an average new car. Instead they went to "name" schools, got no better an education, and start off life saddled with a mortgage AND rent.

Realtors probably have a field day with that one.
10   BayArea   2018 Aug 20, 11:05pm  

Nobody ever holds a gun to anyone’s head to take out a school loan. If a better alternative exists, one is free to take it.
11   epitaph   2018 Aug 20, 11:08pm  

Yeah well loan sharking is illegal for a reason. Sometimes the public is too dumb to know what a trap looks like.
12   MrMagic   2018 Aug 21, 7:58am  

CovfefeButDeadly says
People should have used their intellectual capacity and lived at home and gone to state colleges where their student loan would be less than the price of an average new car.


This is what I had my urchins do, they came out with multiple degrees owing in the low $20k's, easily affordable. And, I didn't pay for their college, that was on them, since it's THEIR degrees.

BayArea says
Nobody ever holds a gun to anyone’s head to take out a school loan.


Very true, I don't understand why parents think they "need" to take out $75K in college loans so junior can get a degree from a state school. Total idiots....

epitaph says
Sometimes the public is too dumb


They don't call them "sheep" for nothing..
13   WookieMan   2018 Aug 21, 8:31am  

dr6B says
Evan F. says
One of my good friends is sending his son to University of Chicago this fall. Tuition is something like $72,000/year. This, on top of sending his daughter to private school here in the Los Angeles area for something like $30k/year. Here's the funniest part- he makes like $250-300k a year and qualifies for need-based financial aid.. in this environment, he's one of the poors. It's lunacy.


UIUC is a very good school and tuition there is about 15K a year - 4 yrs there would cost less than 1 year at U of Chicago. + Urbana-Champaign is not that expensive town.


UIC = UIUC from an employers perspective. The degrees don’t designate which you went to. Just says University of IL. Champaign is awful although it’s a great school. I’d much rather do school in Chicago and get the same degree.

U of C is a cesspool of rich entitle little bitches and dudes to the max. It’s like buying name brand versus generic. I’m sure the education is fine, but I know graduates from there and other schools and the difference isn’t worth the cost when they become adults.
14   NDrLoR   2018 Aug 21, 8:46am  

MrMagic says
Why did tuition rates rise so quick?
Education Act of 1965. Like all other components of the Great Society, it was purported to solve all the problems of human existence, this one paying for higher ed.

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