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soupslam1

Student Debt

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5 hours ago, halfmanhalfbronco said:

Boo hoo.  No offense because I agree with you, life is not fair sometimes.  When I was younger I made catastrophically bad decisions, the student debt I racked up does not even crack the surface of them.  Buck the hell up and deal with it.  Nobody owes you anything because you could have made wiser decisions when you were a young adult.  I was no victim and neither are these kids.
 

I have no pity for adults that decided to make dumb decisions, especially those that came from middle-upper middle class households that own the majority of student debt.  I lost full rides because of dumb decisions before I was 18.  I racked up college debt starting at age 16.  I was raised below the poverty line, dealt with crippling depression, drug addiction, abuse.  You fight, you overcome, you persevere.  The USA does higher education better than anyplace on earth and it is not even close, our University system is responsible for the majority of research and development pushing humanity forward and people want to blow it up?  Fugoutta here..

These kids could have gone to community colleges to get their core credits out of the way while they mature and figure out what it is they really want to do.  No reason to go to the most expensive out of state school you get accepted to.  They could have worked part time while going to school part time.  They could do online schooling while working full time.  They could have learned a trade.  They could have partied less.  Learn from it, move on.  Why should those who opted out of college, or did the above, be responsible to pay for your dumb ass decisions?  Because you were young?  

My rantings are not directed at you or your post btw @toonkee.  Just to be clear, as you stated you are not sure forgiveness is the answer.  Just me ranting about the entitled little pricks in my generation who believe the world owes them something and they deserve a "do-over".

All I'm saying is people often hang themselves with the rope they are given.  If we want to reduce this problem it's wholly unrealistic to believe the answer lies in nutting up and to just make better lifelong financial and career planning decisions at 17 or 18 years old.  That's just not set up for success. Need to take away the rope which consists of, in part, the easy access to the debt, cost of the tuition and the societal pressures to attend college for career readiness.

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14 hours ago, East Coast Aztec said:

Public universities should be free.  Also capped for attendance, and strictly merit-based.  Vocational should be as well.  Student debt is a result in large part to government securing loans.  Instead of securing, just fund the schools properly and make them have to learn to be efficient.

Lollipops and Unicorns

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14 hours ago, thelawlorfaithful said:

What’s their effort to eliminate these “educations” that are apparently at fault for the failure of them providing the individual level of income that allows them to cough up 10% in taxes for a decade? Do they simply throw their hands up, continuing to fund these failing professors and majors?

 

At least half the degrees at public universities are bullshit or not worth the effort due to obsolescence, oversupply, or contributing nothing of tangible value to society and the economy.

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Guest #1Stunner
3 minutes ago, bsubroncochick said:

Thank goodness no!

If I recall correctly, your dad is a proud BYU fan, then?   Your Dad sounds awesome!

Your Dad and I would probably best buds!

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Guest #1Stunner
1 minute ago, bsubroncochick said:

Yep. My dad was.  My mom still is.  As are all but one of my siblings.  I was born in Provo, but I am ashamed to admit that.

Your family sounds like great people!

I've already saved one "prodigal son" ( @BroncoOrange )....   Hmmm....

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1 hour ago, toonkee said:

All I'm saying is people often hang themselves with the rope they are given.  If we want to reduce this problem it's wholly unrealistic to believe the answer lies in nutting up and to just make better lifelong financial and career planning decisions at 17 or 18 years old.  That's just not set up for success. Need to take away the rope which consists of, in part, the easy access to the debt, cost of the tuition and the societal pressures to attend college for career readiness.

Then swing.  No reason to blow up the marvel of the post industrial era, the United States university system, or increase government spending by 1 cent.  It's not broken and I don't feel bad for people with student debt.

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1 hour ago, halfmanhalfbronco said:

Then swing.  No reason to blow up the marvel of the post industrial era, the United States university system, or increase government spending by 1 cent.  It's not broken and I don't feel bad for people with student debt.

Yes, all that was built by Everyman on his own island. 

We're in this together whether you like it or not. Solutions that don't acknowledge that are not real solutions. 

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5 hours ago, NorCalCoug said:

You should be more surprised at your inability to make a clear and rational thought.  You’re about as informed as Maxine Waters on the topic.

Fine so tell me why you think credit providers should not have more of a role in judging risk.   

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4 hours ago, toonkee said:

All I'm saying is people often hang themselves with the rope they are given.  If we want to reduce this problem it's wholly unrealistic to believe the answer lies in nutting up and to just make better lifelong financial and career planning decisions at 17 or 18 years old.  That's just not set up for success. Need to take away the rope which consists of, in part, the easy access to the debt, cost of the tuition and the societal pressures to attend college for career readiness.

Easy access to debt is often a problem.  It was a problem in student loans and it was a problem in mortgages.   While @halfmanhalfbronco is correct a pure private model would result in no loans, we need a model where lenders have skin in the game and can perform their traditional risk management assessments.  

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1 hour ago, toonkee said:

Yes, all that was built by Everyman on his own island. 

We're in this together whether you like it or not. Solutions that don't acknowledge that are not real solutions. 

Solutions to what?  That is the problem with democrats.  Always trying to fix shit that is not broken.  That is the largest reason college has become more expensive, you guys tried to fix something that was not broken.  Let dumb asses suffer from their dumb-assery and their kid's won't make the same mistakes.  I have 0 sympathy.  They made adult decisions driven by their own ego and that of their parents.  Live with your mistakes and others will learn from them as well.  Poof fixed.  Sometimes LESS government really IS a solution.  

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59 minutes ago, sactowndog said:

Easy access to debt is often a problem.  It was a problem in student loans and it was a problem in mortgages.   While @halfmanhalfbronco is correct a pure private model would result in no loans, we need a model where lenders have skin in the game and can perform their traditional risk management assessments.  

No entity would willingly give a loan to 18 year old kids for the price of tuition (hell for the price of a nice bike) if they could just default on it sometime down the road.  So what is your solution?  Government forcing private financial institutions to give bad, high risk loans?  Hmmmm something something history bound to something something it.  Or is your solution to blow up the United States university system, the envy of the world and largest driver in human advancement ? Blow it up to make things easier for middle class white kids that might party too much or pick a poor major or feel entitled to go the most expensive school they get accepted into?

 

Seems like personal accountability and learning from the mistakes of your parents would be a whole lot easier.  But hey, commies gunna commie.  ;) 

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32 minutes ago, soupslam1 said:

A big question is how did college become so expensive in the last two decades. 

Wonder why...  coincides perfectly with the government nationalizing the student lending industry and flooding the market with easily accessible cash.  What could go wrong?  The government created this mess...  lefties like sactowndog are naive enough to trust that same government to fix it.

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35 minutes ago, soupslam1 said:

A big question is how did college become so expensive in the last two decades. 

Democrats and democratic teachers instilling a belief in their kids that if they do not go to college, they failed, driving up demand.  Democratic policies increasing financial aid.  Democratic policies forcing schools to offer more student services.  Because democrats lobbied for financial aid to be so readily available there are no market mechanisms to control costs because if they want to raise tuition, the money will be there.

What is generally the reason shit gets more expansive far faster then the general rate of inflation?  Democrats and Government getting involved.

So what do these same people want?  MOAR GOVERNMENT!!!  +++++ing....gawd.

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1 hour ago, halfmanhalfbronco said:

No entity would willingly give a loan to 18 year old kids for the price of tuition (hell for the price of a nice bike) if they could just default on it sometime down the road.  So what is your solution?  Government forcing private financial institutions to give bad, high risk loans?  Hmmmm something something history bound to something something it.  Or is your solution to blow up the United States university system, the envy of the world and largest driver in human advancement ? Blow it up to make things easier for middle class white kids that might party too much or pick a poor major or feel entitled to go the most expensive school they get accepted into?

 

Seems like personal accountability and learning from the mistakes of your parents would be a whole lot easier.  But hey, commies gunna commie.  ;) 

So here is an article on the student loan environment....

https://www.brookings.edu/wp-content/uploads/2015/09/LooneyTextFall15BPEA.pdf
 

I think you need to create financial incentives.  Institutions servicing loans should be rewarded for the number of loans and the percent of loans going into default.  Banks would then have a profit motivation to weed out the worst situations. 

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37 minutes ago, sactowndog said:

So here is an article on the student loan environment....

https://www.brookings.edu/wp-content/uploads/2015/09/LooneyTextFall15BPEA.pdf
 

I think you need to create financial incentives.  Institutions servicing loans should be rewarded for the number of loans and the percent of loans going into default.  Banks would then have a profit motivation to weed out the worst situations. 

Thanks for the link.  I will read it tomorrow when I have more time.  Cheers.

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3 hours ago, sactowndog said:

Fine so tell me why you think credit providers should not have more of a role in judging risk.   

Why bother, it student loans are backed by the government.

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