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Marthe48

(23,525 posts)

53. Well said!

Thu Oct 8, 2015, 09:33 PM

Oct 2015

I can't tell you how glad I am that our daughters got in and out of college and student loan debt before the universities discovered the deep pockets of the student loan scam.

I have a nephew who has student loans, developed health problems, couldn't work, couldn't get disability, and I was astonished that he couldn't get out from under the loans. I thought, he must be wrong, but nope, he wasn't. It seems that the statute of limitations never runs out on 2 things: student loans and murder.

Given that state universities are moving from 4 year degree programs to 5 year degree programs, and that even people interviewed on NPR admit that the best thing about a 4 year degree is that it proves you can learn, I have stopped believing that going to college is the best way to go. I tell people now: get a job that can't be down-sized or out-sourced. Electrician, pipefitter, welder, nurse, hair-stylist.

I hope this guy wins!

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This Court Case Could Unshackle Americans From Student Debt [View all] uawchild Oct 2015 OP

Student loans are more or less identical to indentured servitude Orrex Oct 2015 #1

This is especially true when you consider the involvement of private educational institutes Major Nikon Oct 2015 #2

Then don't take one out skepticscott Oct 2015 #3

But the current paradigm all but drives the population to have diplomas newthinking Oct 2015 #4

That's true. But the advanced degrees don't really help that much. erronis Oct 2015 #8

But the economy is set up so... CoffeeCat Oct 2015 #97

Great post! Damned if we do and if we don't. Strange how they worked this out... erronis Oct 2015 #102

Yeah, so strange isn't it? CoffeeCat Oct 2015 #122

Thanks for the laundry list and a reality check nolabels Oct 2015 #136

Well, according to Orrex skepticscott Oct 2015 #9

Jobs that don't require a college degree usually don't pay as well meow2u3 Oct 2015 #21

Which State Universities have promised jobs? leftofcool Oct 2015 #34

No state universities have promised jobs meow2u3 Oct 2015 #45

They have jacked up tuition because states have cut TexasBushwhacker Oct 2015 #91

They have jacked up tuition because christx30 Oct 2015 #96

exactly... Salviati Oct 2015 #128

More like the company store than indentured servitude or payday loans... 1monster Oct 2015 #36

Here's the problem aggiesal Oct 2015 #7

The reality is not what it probably should be skepticscott Oct 2015 #11

And what alternative do you propose? jeff47 Oct 2015 #61

You don't have to rack up triple digit debt TexasBushwhacker Oct 2015 #94

Double digit debt quickly turns into triple digit when you can't pay. jeff47 Oct 2015 #95

Geez, you want some cheese with that whine? TexasBushwhacker Oct 2015 #120

I apologize that reality is not as ruggedly individualistic as you'd prefer. jeff47 Oct 2015 #130

I almost stopped reading when he said he was fortunate to have parents that could afford to ... Hassin Bin Sober Oct 2015 #134

$20k/yr in-state tuition and fees at the U of Illinois riderinthestorm Oct 2015 #100

Yup, Illinois us one of the more expensive states TexasBushwhacker Oct 2015 #132

"why would someone major in English or history without getting a teaching certificate?" bvar22 Oct 2015 #109

That'll be really handy at the christx30 Oct 2015 #113

I have found most of your statements to be untrue....at least in my life experience. bvar22 Oct 2015 #115

I applied for my current job christx30 Oct 2015 #117

You wanna know what's a waste of taxpayer dollars? Paying for diploma mill degrees. Gormy Cuss Oct 2015 #139

So what kind of work did you end up doing? TexasBushwhacker Oct 2015 #121

You need a MLS to be a librarian HarpboyAK Oct 2015 #138

I don't think it's possible..... daleanime Oct 2015 #12

How much smarter do you get skepticscott Oct 2015 #13

No one is encouraging 100K loans.... daleanime Oct 2015 #14

Oh no? skepticscott Oct 2015 #16

What do you think happens when you can't pay that $30k loan? jeff47 Oct 2015 #63

Oh, got it. Hissyspit Oct 2015 #77

Exactly. The scenario some speak of here (Don't borrow) might work if Americans were... BlueJazz Oct 2015 #25

Well fuck! Why didn't I think of that? Orrex Oct 2015 #22

+1000 Maven Oct 2015 #30

I am so sick of these self righteous jerks. smirkymonkey Oct 2015 #119

It's amazing how much foresight and worldly knowledge they expect kids and young adults to have Maven Oct 2015 #123

Well, I suggest you get out there skepticscott Oct 2015 #42

Since you don't know what you're talking about, I'll explain it for you Orrex Oct 2015 #62

I have a suggestion Yupster Oct 2015 #70

Only the banks can get away with that! Live and Learn Oct 2015 #82

Maybe I'm too old for this group Yupster Oct 2015 #92

You speak of a time when public universities were free, or nearly free jeff47 Oct 2015 #93

+1 And health care was much more affordable back then too. nt Live and Learn Oct 2015 #99

hell to the yeah n/t zazen Oct 2015 #103

I have a suggestion. Two of them in fact: Orrex Oct 2015 #86

Yes, don't do anything unless you KNOW EXACTLY WHAT WILL HAPPEN IN THE FUTURE. Hissyspit Oct 2015 #78

What is your personal experience with this issue? kristopher Oct 2015 #111

easy to say, until you take out student loans based on gov. statistics that magical thyme Oct 2015 #23

Well said! Marthe48 Oct 2015 #53

I agree with you about non-college careers TexasBushwhacker Oct 2015 #133

Yes Marthe48 Oct 2015 #137

True, don't take them out, but that's not help to those already stuck with inescapable debt Cheese Sandwich Oct 2015 #28

So true. In just the last 15 years, the US textile industry closeupready Oct 2015 #116

Really? Arugula Latte Oct 2015 #31

Taking out loans that are skepticscott Oct 2015 #46

Well, even lowly public state schools can cost "only" $15,000 - $25,000 a year. Arugula Latte Oct 2015 #51

There are jobs in between lawyer christx30 Oct 2015 #74

Yes, and they require a degree. jeff47 Oct 2015 #105

Stupid teenagers! Hissyspit Oct 2015 #76

FUUUUUUCCCCCKKKKK!!!!!!! Ed Suspicious Oct 2015 #37

Ugh. Hissyspit Oct 2015 #75

Yep, let's keep our populace dumb with only the rich being able to afford an education. Live and Learn Oct 2015 #81

Yeah, 18 year old, go find a job!!! JackRiddler Oct 2015 #135

Indentured servants didn't have to come to the US either, but they did. threethirteen Oct 2015 #140

One of Biden's key problems, there. Erich Bloodaxe BSN Oct 2015 #5

The reason lenders sign off on six figure loans to 18 year olds is that lack of risk. lumberjack_jeff Oct 2015 #6

And the more risk there is skepticscott Oct 2015 #10

Or we could be like every other developed country on the planet jeff47 Oct 2015 #64

Good. SheilaT Oct 2015 #15

As noted, if you increase the risk of default skepticscott Oct 2015 #18

It shouldn't be private lenders at all. SheilaT Oct 2015 #38

Since 2010 the money does come from the federal government! Yo_Mama Oct 2015 #41

Thank you for setting me straight. SheilaT Oct 2015 #43

I think the .gov student loans are over $1.2 Trillion right now. [nt] Ichigo Kurosaki Oct 2015 #57

The federal government makes the vast majority of student loans. Yo_Mama Oct 2015 #44

Yeah! Those people should spend the rest of their lives flipping burgers! jeff47 Oct 2015 #65

Why would a lender make you a loan at 1 % Yupster Oct 2015 #71

This debt has to be paid somehow. roamer65 Oct 2015 #17

John Adams had the right idea. byronius Oct 2015 #27

How did Adams propose to pay for it? N/t roamer65 Oct 2015 #35

Taxes. n/t. byronius Oct 2015 #47

Nobody ever questions how to pay for it when we decide it's time to drop bombs on middle eastern Ed Suspicious Oct 2015 #59

Isn't that amazing? Live and Learn Oct 2015 #83

Please quit pretending this is not possible. California had free college education until Reagan Live and Learn Oct 2015 #84

How to pay for college? With a modest tax on Wall Street speculations. When the banks appalachiablue Oct 2015 #55

No, it doesn't. Hissyspit Oct 2015 #79

Yes, a 1% tax on all stock transactions. riderinthestorm Oct 2015 #104

But why should this particular source of debt be exempt from bankruptcy? Hoppy Oct 2015 #19

I suspect it is far, far worse now than it was before this law. magical thyme Oct 2015 #24

Tuition was far, far lower before that bankruptcy law. (nt) jeff47 Oct 2015 #66

If it wasn't exempt, wouldn't every kid Yupster Oct 2015 #72

So window it. Xithras Oct 2015 #101

There were many voices at the time that argued it shouldn't be. Hissyspit Oct 2015 #80

Note to student loan banksters : Stuff Happens ! Hoppy Oct 2015 #20

+1 nt Live and Learn Oct 2015 #85

Three family generations went to college, left with no debt & found good jobs. What happened? appalachiablue Oct 2015 #26

This^^^. byronius Oct 2015 #29

+1 mike_c Oct 2015 #48

Yep. This blame-the-victim shit makes me sick. Arugula Latte Oct 2015 #52

Yeah, that agenda seeps out like pus every time one these threads starts up Orrex Oct 2015 #68

In my own mind Marthe48 Oct 2015 #54

That's not out of the realm of possibilities. The growing activist middle class and large appalachiablue Oct 2015 #67

Yes it is Marthe48 Oct 2015 #88

That is precisely the problem. Voodoo free market Reaganomics. Enthusiast Oct 2015 #112

Good ole Dutch, RIP appalachiablue Oct 2015 #114

Hope there are some good lawyers with a lot of student debt willing to help out! Dustlawyer Oct 2015 #32

When I see stronger laws governing businesses I will consider pressing individuals Scalded Nun Oct 2015 #33

This! newthinking Oct 2015 #50

"That is not only sanctioned, but championed by many." TexasBushwhacker Oct 2015 #90

Hear, hear! smirkymonkey Oct 2015 #125

HUGE K & R !!! - Thank You !!! WillyT Oct 2015 #39

Not the best example MichMan Oct 2015 #40

that's why higher ed should be publicly subsidized... mike_c Oct 2015 #49

If you owed $ 75,000 at 6 % interest Yupster Oct 2015 #73

my loan is at 8+% (either 8.25% or 8.45%, can't recall offhand) mike_c Oct 2015 #108

I know someone who had their wages garnished for ten years and NONE of it went to the loan.... Spitfire of ATJ Oct 2015 #56

k and r niyad Oct 2015 #58

welcome to du, and thank you for this important post. niyad Oct 2015 #60

Good lancer78 Oct 2015 #69

Victims of student loans must be prevented from benefitting from bankrupcty Orrex Oct 2015 #87

+5 Two 'justice' systems. appalachiablue Oct 2015 #89

Only 5 more years and we'll be free. ileus Oct 2015 #98

K&R! nt riderinthestorm Oct 2015 #106

All student loan debt should be erased. WDIM Oct 2015 #107

Politicians claim the answer to joblessness is education.... Spitfire of ATJ Oct 2015 #110

Corporations receive the biggeat benefit from education. WDIM Oct 2015 #124

Good Sliceo Oct 2015 #118

for a while after grad school I had $1200 a month payments but my school wouldn't release my yurbud Oct 2015 #126

We need very cost effective two year colleges Babel_17 Oct 2015 #127

I'm much more keen on subsidizing community TexasBushwhacker Oct 2015 #131

Best decision I ever made MichMan Oct 2015 #129