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Thread: Feds: New student loan repayment options set

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    Re: Feds: New student loan repayment options set

    Quote Originally Posted by j-mac View Post
    Why? According to Boo, Collage degrees costs are a symptom of cut backs in federal money....So, I guess we need more taxes for that as well....hmmmmm, now who could we go after for that?
    Source? I'll wait.
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    Re: Feds: New student loan repayment options set

    Quote Originally Posted by Hatuey View Post
    Source? I'll wait.

    The source was the walmart thread....look it up...it's there I promise.
    Americans are so enamored of equality that they would rather be equal in slavery than unequal in freedom.

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    Re: Feds: New student loan repayment options set

    This is just a means of propping up an absolutely FANTASTIC business model that was in danger of going under. I predicted this, on this very forum, a year ago, or so...er, maybe it was on another debate forum, back in my myspace days...can't remember...anyway...

    Why do we need college? To further educate people. Seems simple. Here's a question. Is there anything, ANYTHING, that colleges teach, in MOST fields, that can't be learned for free on the internet, these days? Well, yeah, sure. Medicine. A surgeon learns by doing it, not by watching videos of it being done. And that sort of "hands on training" is NOT do it yourself, lol. (scary thought, eh?) I'm positive there are plenty of other examples that just as easily fall outside the realm of the typical do it yourself attitude. But the VAST MAJORITY of college degrees...are WELL within those bounderies. Simply put, thanks to the internet, colleges are becoming a lot less useful. Well, no, not less useful...just less necessary, towards the goal of "higher education". If you were to randomly list of 100 college degree programs, I'll bet 75% of them are things that can be just as easily learned on one's own, for next to NOTHING. All one needs is a clear goal, and desire. Hell, I learned how to take apart, and rebuild my old quadrajet 700cfm carb...and it works beautifully now. And I gotta tell you, most of you likely won't understand, when I say that THAT is a major achievement, for someone with no training, of any real sort, in the field of automotives. Carburetors are fairly complicated pieces of mechanical engineering, and rochester q-jets are some of the more complex you can get your hands on. I learned how to do it, and did it, in three days.

    So why do we need college for so many of these fields? Because, in many instances, companies and governments require them. A degree, NOT the knowledge. They REQUIRE the degree, the later is just a plus, lol. Why? Well, the government needs to provide the illusion of security, in the form of various regulations...and the company needs to offset liability, as a result of the need for that illusion of security.

    Enter econ 101. People want the jobs. Which means they NEED the degree, even in a world that offers the KNOWLEDGE practically for free. That is demand. The other factor is supply. Which, here comes another question. How hard is it to start your own ACCREDITED institute of higher learning? That is, a school that the state recognizes? Is it something that your typical industrious entrepreneur can just go out and do? Or does starting a new college fall more in the lines of, it's done either by the government, or by very very very wealthy individuals, or groups? What I mean to suggest is, the supply is more or less fixed. Not a lot of college "pop ups" out there, at least not that are also state sanctioned. So, you have consistent demand, thanks to government oversight, and limited supply, also thanks to government oversight. That picture coming clearer yet?

    But we have a problem, don't we? The money train is slowing, because more and more, the degrees earned won't ever pay for themselves. At least, not in the short term view of 20 years, or so. In short, a college degree, for many cases, is looking like a bad investment. In addition to this, people are finding that they simply can't afford it, even with (government controlled) lax lending practices for students. So, enter Uncle Sam, to the RESCUE! Now making it "safer" and easier to secure loans for things we couldn't otherwise afford, rather than simply letting the market take it's course, and watch tuition numbers fall, along with the profits that accompany them!

    And the question I ask you is, why? Why not simply let things ride? It's BECAUSE it's so easy to get a college loan, that colleges charge so much. Think about it. If no one, or the majority, can't afford to go to college, how do colleges stay in business? They lower their prices until people CAN go to college again. And I think most anyone with a brain knows this is the case. Even Obama. So, again, why? And why, of all the types of loans one can get, are college loans the ONLY one that can't be defaulted on, even in the case of bankruptcy?

    Well, I think I know. I've been thinking this for a while now. It's multifacted, but here it is. Hope it doesn't fall into the realm of conspiracy theory, lol. Our government, our economy, our entire society, operates on debt. Our governments operates on a deficit, without which, no government. They REQUIRE this deficit, in order to have spending freedom...a carte blanche, if you will. Our economy operates on debt as well. Insurance requires debt in the form of securities, in order to have "capital" backing them, in the even a claim is made. Banks require dept in order to place bets on which direction the economy will swing, from one millisecond to the next. Everything in our lives operates around the accruement and sale of dept. Just as there were people scrambling to get a seat at the table to gobble up investments on mortgages, so too are they scrambling for college loans. Because college loans are the gold standard...they CAN'T be defaulted on, EVER, no mater what. Sure, now we might have some loan forgiveness...after 20-25 years. STILL a lot safer than any other type of security out there.

    Another thing about college loan debt? It ensures that college graduates scramble for jobs. That whole no default thing, again. College grads are far more likely to be productive, because they HAVE to be. A lot of folks, they might not go for the dishwasher job a Joes Crab Shack, because it might be severe underemployment for them. A college grad? If that's what's hiring, that's what they'll take, because the other option, in a manner of speaking, is imprisonment.
    Quote Originally Posted by calamity View Post
    Reports indicate that everyone knew he was hauling a bunch of guns up there. But, since you brought it up, there's something which should be illegal: guns that breakdown.

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    Re: Feds: New student loan repayment options set

    Quote Originally Posted by j-mac View Post
    The source was the walmart thread....look it up...it's there I promise.
    So no source. Gotcha.
    I refuse to accept the view that mankind is so tragically bound to the starless midnight of racism and war that the bright daybreak of peace and brotherhood can never become a reality. - MLK

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    Re: Feds: New student loan repayment options set

    Quote Originally Posted by Hatuey View Post
    So no source. Gotcha.
    What? That Boo made that argument? He absolutely did.
    Americans are so enamored of equality that they would rather be equal in slavery than unequal in freedom.

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    Re: Feds: New student loan repayment options set

    The problems that haven't been addressed and probably still won't be, is kids choosing schools that cost a boat load, instead of more affordable schools.

    A good example is my sister in law.
    She could of attended the local community college, for the first 2 years, then went to the private university for the rest of her undergrad, saving 10's of thousands of dollars.
    She could of also attend state school for her whole degree program, even her doctorates.

    She's still in private university for that and will likely end up with $150k+ in debt.
    They shouldn't forgive that, when there were cheaper, just as functional alternatives.
    I was discovering that life just simply isn't fair and bask in the unsung glory of knowing that each obstacle overcome along the way only adds to the satisfaction in the end. Nothing great, after all, was ever accomplished by anyone sulking in his or her misery.
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    Re: Feds: New student loan repayment options set

    Quote Originally Posted by Harry Guerrilla View Post
    The problems that haven't been addressed and probably still won't be, is kids choosing schools that cost a boat load, instead of more affordable schools.

    A good example is my sister in law.
    She could of attended the local community college, for the first 2 years, then went to the private university for the rest of her undergrad, saving 10's of thousands of dollars.
    She could of also attend state school for her whole degree program, even her doctorates.

    She's still in private university for that and will likely end up with $150k+ in debt.
    They shouldn't forgive that, when there were cheaper, just as functional alternatives.
    They aren't going to forgive that, unless she is willing to spend the next 20-25 years in ABJECT poverty. Its not like, whoa, 20 years are up, my loans go away. She has to prove that within the span of 20 years, she has been consistently unable to make her college loan payments.


    And she is EXACTLY the target of this sort of legislation. We WANT, no, NEED, people like your sister...else, where are we going to get the debt to bundle up and sell off?
    Quote Originally Posted by calamity View Post
    Reports indicate that everyone knew he was hauling a bunch of guns up there. But, since you brought it up, there's something which should be illegal: guns that breakdown.

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    Re: Feds: New student loan repayment options set

    Quote Originally Posted by KevinKohler View Post
    They aren't going to forgive that, unless she is willing to spend the next 20-25 years in ABJECT poverty. Its not like, whoa, 20 years are up, my loans go away. She has to prove that within the span of 20 years, she has been consistently unable to make her college loan payments.
    Ok, I get it now.
    Still though, I've known people to go get multiple degrees (one guy had 3 or 4 in different foreign languages) only to work as a pizza delivery guy.

    Quote Originally Posted by KevinKohler View Post
    And she is EXACTLY the target of this sort of legislation. We WANT, no, NEED, people like your sister...else, where are we going to get the debt to bundle up and sell off?
    True enough, I just have reservations about the types of degrees and monetary forgiveness for certain people.
    I was discovering that life just simply isn't fair and bask in the unsung glory of knowing that each obstacle overcome along the way only adds to the satisfaction in the end. Nothing great, after all, was ever accomplished by anyone sulking in his or her misery.
    —Adam Shepard

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    Re: Feds: New student loan repayment options set

    Quote Originally Posted by Harry Guerrilla View Post
    Ok, I get it now.
    Still though, I've known people to go get multiple degrees (one guy had 3 or 4 in different foreign languages) only to work as a pizza delivery guy.



    True enough, I just have reservations about the types of degrees and monetary forgiveness for certain people.
    It's just like health care. it's expensive, ONLY BECAUSE IT CAN BE.

    Imagine how much college would cost if the loans were as hard to qualify for as, say, current home loans are? Imagine how quickly the number of new college students would fall, and how quickly the multi million dollar salaries a lot of the folks that run these places would come into review...imagine how quickly those prices would drop, so that more people COULD afford it, and the loans would become smaller, making the red tape less. Simply put, college is a bubble, the same as the housing market was. Easy money = easy price hikes.
    Quote Originally Posted by calamity View Post
    Reports indicate that everyone knew he was hauling a bunch of guns up there. But, since you brought it up, there's something which should be illegal: guns that breakdown.

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    Re: Feds: New student loan repayment options set

    Quote Originally Posted by KevinKohler View Post
    It's just like health care. it's expensive, ONLY BECAUSE IT CAN BE.

    Imagine how much college would cost if the loans were as hard to qualify for as, say, current home loans are? Imagine how quickly the number of new college students would fall, and how quickly the multi million dollar salaries a lot of the folks that run these places would come into review...imagine how quickly those prices would drop, so that more people COULD afford it, and the loans would become smaller, making the red tape less. Simply put, college is a bubble, the same as the housing market was. Easy money = easy price hikes.

    Thank you Teddy Kennedy.
    Americans are so enamored of equality that they would rather be equal in slavery than unequal in freedom.

    Alexis de Tocqueville

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