Awesome News-Trump To Rewrite Obama Rules On Student Loan Forgiveness

[Geaux4it]

Decisions have consequences.. Not always good

-Geaux
--------

A few months ago we noted that 31% of college students in the U.S., or roughly 2.4 million kids, literally admitted to using student loan money to fund their binge drinking trips to Cancun and Daytona Beach for spring break. Now, while most of us who've had the opportunity to live in the real world, outside the comfort of mom and dad's basement, would consider it a bad idea to borrow 10-20 year debt to take a vacation we couldn't afford, many college students seem to think it's a perfectly acceptable practice.

Now, to be clear, we have no problem with making bad decisions, sometimes those are the most fun (see pic below for evidence). We only ask that the people who make the bad decisions are also the same people who get to deal with the consequences of those bad decisions.

Unfortunately, in the Obama administration the lines between victim and perpetrator were often blurred to be point of being interchangeable. So, while we may say that a college student who borrows money to binge drink is a moron (best case) or a criminal guilty of loan fraud (worst case), Obama would describe that same person as a victim of predatory student lending practices who had no idea that his/her 2.1 GPA in Anthropology from the University of Phoenix wouldn't automatically guarantee him/her to a 'career' making $200,000 a year immediately upon completion of their 7-year Bachelor of Art degree....call it a po-tay-to, po-tah-to sort of conundrum.


Trump To Rewrite Obama Rules On Student Loan Foregiveness | Zero Hedge

 

[Marion Morrison]

Decisions have consequences.. Not always good

-Geaux
--------

A few months ago we noted that 31% of college students in the U.S., or roughly 2.4 million kids, literally admitted to using student loan money to fund their binge drinking trips to Cancun and Daytona Beach for spring break. Now, while most of us who've had the opportunity to live in the real world, outside the comfort of mom and dad's basement, would consider it a bad idea to borrow 10-20 year debt to take a vacation we couldn't afford, many college students seem to think it's a perfectly acceptable practice.

Now, to be clear, we have no problem with making bad decisions, sometimes those are the most fun (see pic below for evidence). We only ask that the people who make the bad decisions are also the same people who get to deal with the consequences of those bad decisions.

Unfortunately, in the Obama administration the lines between victim and perpetrator were often blurred to be point of being interchangeable. So, while we may say that a college student who borrows money to binge drink is a moron (best case) or a criminal guilty of loan fraud (worst case), Obama would describe that same person as a victim of predatory student lending practices who had no idea that his/her 2.1 GPA in Anthropology from the University of Phoenix wouldn't automatically guarantee him/her to a 'career' making $200,000 a year immediately upon completion of their 7-year Bachelor of Art degree....call it a po-tay-to, po-tah-to sort of conundrum.


Trump To Rewrite Obama Rules On Student Loan Foregiveness | Zero Hedge

The student loan thing is kind of like the housing bubble these days, sooner or later it's going to pop.

 

[JoeB131]

The student loan thing is kind of like the housing bubble these days, sooner or later it's going to pop.

Not really. The reason why the Housing Bubble burst is because you couldn't resell your homes for what you paid for them anymore.

There's no way you can resell your college degree once you've gotten it.

 

[iceberg]

Decisions have consequences.. Not always good

-Geaux
--------

A few months ago we noted that 31% of college students in the U.S., or roughly 2.4 million kids, literally admitted to using student loan money to fund their binge drinking trips to Cancun and Daytona Beach for spring break. Now, while most of us who've had the opportunity to live in the real world, outside the comfort of mom and dad's basement, would consider it a bad idea to borrow 10-20 year debt to take a vacation we couldn't afford, many college students seem to think it's a perfectly acceptable practice.

Now, to be clear, we have no problem with making bad decisions, sometimes those are the most fun (see pic below for evidence). We only ask that the people who make the bad decisions are also the same people who get to deal with the consequences of those bad decisions.

Unfortunately, in the Obama administration the lines between victim and perpetrator were often blurred to be point of being interchangeable. So, while we may say that a college student who borrows money to binge drink is a moron (best case) or a criminal guilty of loan fraud (worst case), Obama would describe that same person as a victim of predatory student lending practices who had no idea that his/her 2.1 GPA in Anthropology from the University of Phoenix wouldn't automatically guarantee him/her to a 'career' making $200,000 a year immediately upon completion of their 7-year Bachelor of Art degree....call it a po-tay-to, po-tah-to sort of conundrum.


Trump To Rewrite Obama Rules On Student Loan Foregiveness | Zero Hedge

The student loan thing is kind of like the housing bubble these days, sooner or later it's going to pop.

yep. colleges know the gov will give loans so prices go up. what, 1120% in 30 years?

Cost Of College Degree In U.S. Has Increased 1,120 Percent In 30 Years, Report Says | HuffPost

the jobs are not matching the cost of education. all of this needs to be revamped, enema'd and cleaned up. reboot and start over.

 

[Marion Morrison]

Decisions have consequences.. Not always good

-Geaux
--------

A few months ago we noted that 31% of college students in the U.S., or roughly 2.4 million kids, literally admitted to using student loan money to fund their binge drinking trips to Cancun and Daytona Beach for spring break. Now, while most of us who've had the opportunity to live in the real world, outside the comfort of mom and dad's basement, would consider it a bad idea to borrow 10-20 year debt to take a vacation we couldn't afford, many college students seem to think it's a perfectly acceptable practice.

Now, to be clear, we have no problem with making bad decisions, sometimes those are the most fun (see pic below for evidence). We only ask that the people who make the bad decisions are also the same people who get to deal with the consequences of those bad decisions.

Unfortunately, in the Obama administration the lines between victim and perpetrator were often blurred to be point of being interchangeable. So, while we may say that a college student who borrows money to binge drink is a moron (best case) or a criminal guilty of loan fraud (worst case), Obama would describe that same person as a victim of predatory student lending practices who had no idea that his/her 2.1 GPA in Anthropology from the University of Phoenix wouldn't automatically guarantee him/her to a 'career' making $200,000 a year immediately upon completion of their 7-year Bachelor of Art degree....call it a po-tay-to, po-tah-to sort of conundrum.


Trump To Rewrite Obama Rules On Student Loan Foregiveness | Zero Hedge

The student loan thing is kind of like the housing bubble these days, sooner or later it's going to pop.

yep. colleges know the gov will give loans so prices go up. what, 1102% in 30 years?

Cost Of College Degree In U.S. Has Increased 1,120 Percent In 30 Years, Report Says | HuffPost

the jobs are not matching the cost of education. all of this needs to be revamped, enema'd and cleaned up. reboot and start over.

Absolutely.

Medical care, too. The problem with both? Uncle Sugar getting involved.

 

[iceberg]

Decisions have consequences.. Not always good

-Geaux
--------

A few months ago we noted that 31% of college students in the U.S., or roughly 2.4 million kids, literally admitted to using student loan money to fund their binge drinking trips to Cancun and Daytona Beach for spring break. Now, while most of us who've had the opportunity to live in the real world, outside the comfort of mom and dad's basement, would consider it a bad idea to borrow 10-20 year debt to take a vacation we couldn't afford, many college students seem to think it's a perfectly acceptable practice.

Now, to be clear, we have no problem with making bad decisions, sometimes those are the most fun (see pic below for evidence). We only ask that the people who make the bad decisions are also the same people who get to deal with the consequences of those bad decisions.

Unfortunately, in the Obama administration the lines between victim and perpetrator were often blurred to be point of being interchangeable. So, while we may say that a college student who borrows money to binge drink is a moron (best case) or a criminal guilty of loan fraud (worst case), Obama would describe that same person as a victim of predatory student lending practices who had no idea that his/her 2.1 GPA in Anthropology from the University of Phoenix wouldn't automatically guarantee him/her to a 'career' making $200,000 a year immediately upon completion of their 7-year Bachelor of Art degree....call it a po-tay-to, po-tah-to sort of conundrum.


Trump To Rewrite Obama Rules On Student Loan Foregiveness | Zero Hedge

The student loan thing is kind of like the housing bubble these days, sooner or later it's going to pop.

yep. colleges know the gov will give loans so prices go up. what, 1102% in 30 years?

Cost Of College Degree In U.S. Has Increased 1,120 Percent In 30 Years, Report Says | HuffPost

the jobs are not matching the cost of education. all of this needs to be revamped, enema'd and cleaned up. reboot and start over.

Absolutely.

Medical care, too. The problem with both? Uncle Sugar getting involved.

i can't think of a single thing the government took over that made it cheaper.

 

[JoeB131]

yep. colleges know the gov will give loans so prices go up. what, 1102% in 30 years?

Cost Of College Degree In U.S. Has Increased 1,120 Percent In 30 Years, Report Says | HuffPost

the jobs are not matching the cost of education. all of this needs to be revamped, enema'd and cleaned up. reboot and start over.

The government isn't the problem. In fact, most Student loans are made by private lenders, and only 11% of borrowers default.

The problem is you can't get a good job without at least a bachelor's degree.

for instance, in my field, 90% of the jobs require a bachelors degree. For those playing along at home, my day job is purchasing. Now, when they sacked our Purchasing Department in 2008, three of us got laid off, Buyers in their Mid-Forties with lots of experience.

Because I had a college degree, I was able to land another gig within weeks. Another fellow took four months to land a job, and the other lady took nearly two years. suffice it to say, they didn't have college degrees, and weren't even considered for most jobs.

But you can't blame the employers, either. They want a bachelor's degree because a HS Diploma is sort of useless now. 20% of the kids who get them can't read them.

Here's what I would do. Every 18 year old has to do two years of national service. Those who excel and complete their two years get a free college scholarship, just like we do for the military now.

I always felt I got a lot more out of the military than I ever got out of college, anyway.

 

[iceberg]

yep. colleges know the gov will give loans so prices go up. what, 1102% in 30 years?

Cost Of College Degree In U.S. Has Increased 1,120 Percent In 30 Years, Report Says | HuffPost

the jobs are not matching the cost of education. all of this needs to be revamped, enema'd and cleaned up. reboot and start over.

The government isn't the problem. In fact, most Student loans are made by private lenders, and only 11% of borrowers default.

The problem is you can't get a good job without at least a bachelor's degree.

for instance, in my field, 90% of the jobs require a bachelors degree. For those playing along at home, my day job is purchasing. Now, when they sacked our Purchasing Department in 2008, three of us got laid off, Buyers in their Mid-Forties with lots of experience.

Because I had a college degree, I was able to land another gig within weeks. Another fellow took four months to land a job, and the other lady took nearly two years. suffice it to say, they didn't have college degrees, and weren't even considered for most jobs.

But you can't blame the employers, either. They want a bachelor's degree because a HS Diploma is sort of useless now. 20% of the kids who get them can't read them.

Here's what I would do. Every 18 year old has to do two years of national service. Those who excel and complete their two years get a free college scholarship, just like we do for the military now.

I always felt I got a lot more out of the military than I ever got out of college, anyway.

wow. i don't regret hitting "show ignore".

it is a wide and varied program but colleges can keep raising costs cause they know people will still get gov backed loans. in my IT field however i don't think i've ever been asked about my college degree. it's on my resume somewhere but it's never come up and no one has ever asked for my grades. i *do* think there needs to be options and alternatives because it's more than painfully obvious we've moved beyond the traditional college model and we're no longer helping college kids prepare for much of anything but disappointment.

for the 2 years of national service - this like a job program to help them learn about the career they want to get into *when* or *if* they get to go to college? maybe this can even be a way to measure performance and help them find jobs they *are* suitable for.

i never went military but my best friend in college did. he's made it a career and has had by all accounts a pretty fascinating life in the air force. he was in panama for Noriega (sp) and of course iraq. he's now in england serving and closing in on retirement. i've had a pretty good life also but far from military or that level of discipline.

we just need to open up the possibilities for kids growing up today to more than college as the path to go.

 

[JoeB131]

it is a wide and varied program but colleges can keep raising costs cause they know people will still get gov backed loans. in my IT field however i don't think i've ever been asked about my college degree. it's on my resume somewhere but it's never come up and no one has ever asked for my grades. i *do* think there needs to be options and alternatives because it's more than painfully obvious we've moved beyond the traditional college model and we're no longer helping college kids prepare for much of anything but disappointment.

But that's the point, it's on your resume. Which means that long before a human being read your resume, and called you for an interview, an Applicant Tracking System identified you had a bachelor's degree and qualified you.

The thing is, if you eliminate student loans, all you are doing is eliminating the ability of working class kids to access that benefit. College costs won't go down because the colleges know you need their piece of paper to get somewhere.

 

[JoeMoma]

Decisions have consequences.. Not always good

-Geaux
--------

A few months ago we noted that 31% of college students in the U.S., or roughly 2.4 million kids, literally admitted to using student loan money to fund their binge drinking trips to Cancun and Daytona Beach for spring break. Now, while most of us who've had the opportunity to live in the real world, outside the comfort of mom and dad's basement, would consider it a bad idea to borrow 10-20 year debt to take a vacation we couldn't afford, many college students seem to think it's a perfectly acceptable practice.

Now, to be clear, we have no problem with making bad decisions, sometimes those are the most fun (see pic below for evidence). We only ask that the people who make the bad decisions are also the same people who get to deal with the consequences of those bad decisions.

Unfortunately, in the Obama administration the lines between victim and perpetrator were often blurred to be point of being interchangeable. So, while we may say that a college student who borrows money to binge drink is a moron (best case) or a criminal guilty of loan fraud (worst case), Obama would describe that same person as a victim of predatory student lending practices who had no idea that his/her 2.1 GPA in Anthropology from the University of Phoenix wouldn't automatically guarantee him/her to a 'career' making $200,000 a year immediately upon completion of their 7-year Bachelor of Art degree....call it a po-tay-to, po-tah-to sort of conundrum.


Trump To Rewrite Obama Rules On Student Loan Foregiveness | Zero Hedge

Where is the pic below for evidence?

 

[Silent Warrior]

I think student loans are a necessity now days. The problem is there is they are too automatic and there is not sufficient policing once granted. As a previous poster stated too many are used for none student expenses. They should lose funding when class load drops below a full schedule. Although it would be a real problem to have majors decided by the lender, I just wonder if loaning to someone to spend 6 years getting a degree in something like early Etruscan pornography or some such is a good use of student loan funds.

I too like the idea of 2 or 4 years service. Along with student loans, that could be a requirement for voting eligibility.