Student Loans,...the new talking point (political)

[G-Man]

Was watching the Sunday morning "news" shows and on a couple of them, the left was yammering about student debt.  One actually said that students are graduating with a mortgage.  You know what the average student debt is?  $29,000.  The cost of a decent car.  That's it.

Yes, some are graduating with a hell of a lot more.  I finish with $140,000.  That was my investment in my future.  Cost me $1,000 a month.  Not at first, though.  I couldn't do that in the beginning.  I deferred and the loan got higher.  Then they based the payment on my income and my payment was $300 less than the interest alone every month.  But I did better over time and it's gone.

But That's not the norm.  Most kids don't go to professional school.  The kids that do skew the median.  So more than 75% are graduating with less that the average.  Why are the politicians concerning themselves with this?  If one can't invest the cost of a car into there own futures, what does that say about self reliance and responsibility?  You wait, this is just the beginning.  It started with occupy wall street, now the lib politicians on news shows, and next it will gain speed and eventually college will be another entitlement.

[Serk]

It's a self perpetuating problem... More student loans are offered so colleges are able to jack the costs up, so more student loans are offered, so the prices go up again, continue ad infinitum...

And yes, it IS a problem... The total amount of student loan debt in this country has surpassed the staggering amount of credit card debt in this country. But, in the words of a very wise man, government is not the solution to the problem... Government IS the problem.

[Momz]

My daughter graduates this week from Florida Institute of Technology with a double major (Astro-Physics/Physics) with no debt. She never had any student loans,....she had several scholarships and we covered all other costs.

In January she will work an REU for NASA, and yes taxpayers are footing the bill.

She will probably attend Johns Hopkins in the spring to start on her Doctorate. And again, all at the taxpayers expense. Certain fields of study are completely funded by all American taxpayers.

At least she did not go into "social work" or "community activism". We need scientists, not more "third grade teachers with masters degrees".

[Patrick]

And I thought student debt today went to the parents.  ???

Just as a side note, back in the dark ages, I paid every penny of my college education and mis-education. I know some that have still not re-paid their loans.

[Romeo]

Good on her George. You guys must be so proud. You are so right, what we need are more scientists, mathmaticians, engineers, and such. When I hear stories like Johanna's it renews my hope in the future. I wish her well in all her endeavours.
My daughter graduates this week from Florida Institute of Technology with a double major (Astro-Physics/Physics) with no debt. She never had any student loans,....she had several scholarships and we covered all other costs.

In January she will work an REU for NASA, and yes taxpayers are footing the bill.

She will probably attend Johns Hopkins in the spring to start on her Doctorate. And again, all at the taxpayers expense. Certain fields of study are completely funded by all American taxpayers.

At least she did not go into "social work" or "community activism". We need scientists, not more "third grade teachers with masters degrees".

[G-Man]

And I thought student debt today went to the parents.  ???

Just as a side note, back in the dark ages, I paid every penny of my college education and mis-education. I know some that have still not re-paid their loans.

I finished mine 2 years ago.  No grants, no scholarships.  I owe nobody nothing.  And I'm damn proud of it.  I even took extra money every year for books and a little spending.

And my parents are proud of me as well.  And that means more to me than anything else.   

And I think I set a good example to my kids as well.

[G-Man]

And yes, it IS a problem... The total amount of student loan debt in this country has surpassed the staggering amount of credit card debt in this country.

Why is that a problem?  They have 30 years to pay off an average of $29,000.   What does it come to?  About $100 a month.  Their cell phone bill is higher than that.

Yes, add everyones debt up and it's huge, but it's not supposed to be added up.  That just more taking points they like to use to make it appear like another crisis.  And we know what the libs think of a crisis.  Something you just can't waste.  So let's legislate the problem into a bigger one and spread the cost around to everyone.

[Challenger]

And then there is this, Take out a loan, promise to pay it back and then don't. No one cares, Life lesson learned. What ever happened to paying your debts ?

[MP]

And then there is this, Take out a loan, promise to pay it back and then don't. No one cares, Life lesson learned. What ever happened to paying your debts ?

Same idea as the people earning $40,000 a year that bought $500,000 houses, then blamed the bank when they could not pay!  Now WE are to pick up the tab.

MP

[Doc809]

G-Man, you are my hero.  Like you I am biting on that $160K a chunk at a time and paying it back.  Not easy or cheap but it is my investment in me and the patients I serve.  We need to go riding sometime!!

[steve 3054]

I paid as I went...some thru reimbursement from work and mostly out of pocket, my son is now is college and is also paying as he goes...he works and lives with us so he can afford that but he also will have no dept...college seems to have become a vacation from life and everybody has a degree.  Problem is no one is willing to get dirty for a living...

[Robert]

The problem is we are sold on the fact that education is everything and without it you go nowhere and that simply isn't true. Some of the wealthiest men in America never went to college. This is the problem though kids thinking that they need to pay big sums to colleges to get a good job wind up paying but then get out and in the entry level positions find the ones that started without college on pretty much the same level. Now for Doc or certain sciences it is different but even they have to go through the bottom level and rise to the top in there work. So life as we all know changes and some marry some dont stay in their appointed fields and some just cant find work but are burdened with a big college bill. I almost think it would be great for kids to get a reality check by working for a year or two then go to college and myself and others have learned that paying for college is on a need basis. If you dont need it then dont take it and is this really what you want.

[czuch]

It will become the equal of High school when the degrees outweigh the diplomas.
Nobody can "Do" anything anymore. I.E. shop class, Home Ec, and such. The capable labor force of the past is gone. Everybody wants to get the corner office with a view. Right Now!!
Then, gripe about everything going overseas.

[Jabba]

We need a couple things in my humble opinion.  We need some vocational training in high school.  Not EVERYONE is destined to be a college graduate.  We need some people that can actually DO stuff.  Remember I am a consulting engineer, and I am not an Engineer.  I just pretend to be. 

We also need to reform our tax system.  FairTax would be the best thing we could do for the economy, the manufacturing in this country, the middle class, and our political system.  Why can't people SEE that?  C'mon people, open your eyes... 

Student loans... yeah I had them.  I didn't finish college, and I paid them off.  My wife had them.  For her BSN and her MSN.  We paid them off.  We got $70K into credit card debt too... and guess what?  No bankruptcy here.  He dug in and paid them off.  It's irresponsibility of people that they learn from their parents NOT making them be responsible.  Sure everyone goes thru a period of irresponsibility, but if you have the fundamentals o fit ingrained in you from your parents... you come out of it eventually.  That's our job as parents.  to teach our kids NOT to be irresponsible burdens on society. 

Jabba

[Patrick]

Quote from: Patrick on Yesterday at 01:44:57 PM
And I thought student debt today went to the parents. 

Just as a side note, back in the dark ages, I paid every penny of my college education and mis-education. I know some that have still not re-paid their loans.

I finished mine 2 years ago.  No grants, no scholarships.  I owe nobody nothing.  And I'm damn proud of it.  I even took extra money every year for books and a little spending.

And my parents are proud of me as well.  And that means more to me than anything else.   

And I think I set a good example to my kids as well.
end quotes:

G-Man,
Exactly.

[Reb]

Give the Military 4 years of your time..........

They give you a free 4 years for an education........

Best decision I ever made.

[G-Man]

G-Man, you are my hero.  Like you I am biting on that $160K a chunk at a time and paying it back.  Not easy or cheap but it is my investment in me and the patients I serve.  We need to go riding sometime!!

Would love to BROTHER!

[G-Man]

Give the Military 4 years of your time..........

They give you a free 4 years for an education........

Best decision I ever made.

I know a few guys that did that.  Some did well after, some not so well.  But,.....if you knew these guys, you could have foreseen who was gonna do well and who wasn't way back when.

[Stanley Steamer]

It cost me around ~$40,000 for a Bachelor of Science in Ornamental Horticulture degree from the Univ. of GA.......back in '93.......

My parents divorced when I was in the 11th grade, and I lived with a favorite Aunt and Uncle my senior year of HS......I had a part time job from the time I was 15 until I graduated HS.....I went to Piedmont College for my Freshman year of college (before I transferred to UGA in the Fall of 1989)......

I worked as a full time janitor at a new school that first year of college.....I worked from 6pm-2am M-F......woke up around 5:30-6am.......drove 40 miles ONE way to go to Piedmont.....stayed all day at school, came home ate supper, and went into work......it was a VERY HARD year......but, I was young and dumb!.....almost fell asleep on the ride home a few times and I eventually got a carpool buddy for some of the year.....

I transferred to UGA in Sept. 1989 and took a part time job every year during the school year and full time in the summers(no Spring Trip Breaks for me).....

I had the most scholarships of any other person in my HS graduating class.....enough to pay for about half of my costs......I got a Pell Grant for about a 1/4 of the cost and took student loans out for the other 1/4 of the costs....I paid those loans back in the time frame they gave me.....I pretty much paid my own way through school and I figure the taxes I paid at all the jobs I had during those years contributed to my Pell Grants......the only help I got from my Family was $300 one quarter for books....and I was grateful for my Mother doing that for me......

Around the time I graduated, GA passed the Lottery......any HS student who could maintain a "B" average pretty much got a free ride at any GA college as long as they maintained a B average......and I predicted that HS teachers would start making it easier to get those B's so that their students could at least get started in college with a full ride........in the last 3-4 years, as the economy has softened, parents/students are ALL UP IN ARMS because the State Lottery had the nerve to cut them down to only paying ~80% of their costs.....ungrateful little peckerwoods!!!........

[Skinhead]

Give the Military 4 years of your time..........

They give you a free 4 years for an education........

Best decision I ever made.

Worked for me (I only give them 3,  that was enough)

[Reb]

Give the Military 4 years of your time..........

They give you a free 4 years for an education........

Best decision I ever made.

I know a few guys that did that.  Some did well after, some not so well.  But,.....if you knew these guys, you could have foreseen who was gonna do well and who wasn't way back when.

It's a good investment for anyone. The biggest problem I have seen from my former military brothers. Fake "for-profit" schools try and grab as many guys/gals coming out of active duty for there educational money. Places like "University of Phoenix" and other... That online education stuff they blast all over the television is a load of crap...

3 friends of mine did that process and lost all 50+k of there GI Bill for a piss poor degree not recognized by anyone. I think the government and military is starting to do some more digging on places like this and warning personnel about there scams.

[Stanley Steamer]

Give the Military 4 years of your time..........

They give you a free 4 years for an education........

Best decision I ever made.

I know a few guys that did that.  Some did well after, some not so well.  But,.....if you knew these guys, you could have foreseen who was gonna do well and who wasn't way back when.

It's a good investment for anyone. The biggest problem I have seen from my former military brothers. Fake "for-profit" schools try and grab as many guys/gals coming out of active duty for there educational money. Places like "University of Phoenix" and other... That online education stuff they blast all over the television is a load of crap...

3 friends of mine did that process and lost all 50+k of there GI Bill for a piss poor degree not recognized by anyone. I think the government and military is starting to do some more digging on places like this and warning personnel about there scams.

I've always frowned upon these online diploma mills.....it's a NO BRAINER......Brick and Mortar and at least a year or two in an actual dorm before moving into an apartment is the way to go......