The Next Bailout

[myrobbins7]

Student Loans?

Here’s what we do know about student loan debt: it’s roughly $1 trillion in size, greater than either auto or credit-card debt and second only to mortgage debt in the U.S.

Borrowers in their 30s today owe $28,500, on average. The debt burden has soared just as — and partly because — the recession hit, so younger graduates carrying the highest balances are hit with the double whammy of a weak job market (that still isn’t showing any sign of rapid improvement).

News Headlines

 

[YorkVol]

My prediction is they will allow new home buyers to bundle their student loans into their new mortgages...

 

[OrangeEmpire]

Buying votes yet again. Obama trying to reconnect with the college vote.

 

[utvolpj]

an absolutely ridiculous idea. Might as well eliminate tuition if they're taking this route

 

[hog88]

an absolutely ridiculous idea. Might as well eliminate tuition if they're taking this route

Could very well eliminate alot of tuition, the cost of a college education has gotten out of hand.

 

[GoBigOrangeUT]

No one can deny that this is a problem. I am 22k in debt with student loans, and I have had to use a retroactive forebearance when I lost my job. I now make my payments, but it's not easy. Add 22 or 23 year olds with a large amount of debt into an economy not firing on all cylinders and this is what happens. I do not know how to fix it other than lowering tuition costs.

 

[OrangeEmpire]

Wait for it.............wait for it

 

[volinbham]

Professors gotta get paid

 

[GoBigOrangeUT]

Professors gotta get paid

Sure they do. But at the cost of putting Young 20s adult starting their working careers in 30-50k dollars in debt, something is wrong. This wouldn't be as big a problem if good entry level college graduate jobs were readily available, but for the most part, they are not.

 

[volinbham]

<=== Specifically, I mean this professor gotta get paid

 

[Panthro]

I'm 31 and still almost $20k in debt. I just wish I wasn't stupid enough to take all the money they offered me in college. I thought my folks were gonna pick up the bill, eventually, but pops lost his job. Like a dummy, I accepted every cent I qualified for with my good grades. I lived large in college when I should have commuted and saved.

 

[volfan2024]

Tennessee still has the Hope Scholarships that reward you for MAKING GOOD GRADES while in high school and continue to reward you as long as you keep up the B average in college. So who's to blame here?

My neice who is an MD now I think she owes/owed like 200,000.00 if I'm not mistaken.

 

[GoBigOrangeUT]

<=== Specifically, I mean this professor gotta get paid

I have no problem with professors getting paid. They put their time in to get where they are now.

 

[volinbham]

damn straight

 

[DynamiteMcGhee]

Tennessee still has the Hope Scholarships that reward you for MAKING GOOD GRADES while in high school and continue to reward you as long as you keep up the B average in college. So who's to blame here?

My neice who is an MD now I think she owes/owed like 200,000.00 if I'm not mistaken.

Hope scholarships will cover part of the tuition. Not all of it. It's quite possible to keep the hope all through college and still be up to your eyeballs in loan debt.

 

[GoBigOrangeUT]

Tennessee still has the Hope Scholarships that reward you for MAKING GOOD GRADES while in high school and continue to reward you as long as you keep up the B average in college. So who's to blame here?

My neice who is an MD now I think she owes/owed like 200,000.00 if I'm not mistaken.

Making good grades is not enough to keep you from going many thousand in debt. Have a friend who graduated summa cum laude and he owes 52k.

 

[utvolpj]

Making good grades is not enough to keep you from going many thousand in debt. Have a friend who graduated summa cum laude and he owes 52k.

seriously hope he wasn't a business major

did he do all 4yrs at the same school? Was it in-state?

 

[hog88]

Tennessee still has the Hope Scholarships that reward you for MAKING GOOD GRADES while in high school and continue to reward you as long as you keep up the B average in college. So who's to blame here?

My neice who is an MD now I think she owes/owed like 200,000.00 if I'm not mistaken.

The Hopr Scholorship is a joke! Comparing my kids tuition (has kept the sholly 4 years) against some friends who were in school before the Hope it looks like tuition went up almost $ for $ with the Hope award.

 

[GoBigOrangeUT]

seriously hope he wasn't a business major

did he do all 4yrs at the same school? Was it in-state?

In state at UT and majored in Poli Sci.

 

[Gramps]

seriously hope he wasn't a business major

did he do all 4yrs at the same school? Was it in-state?

In state at UT and majored in Poli Sci.

Sounds about like the average politician.

 

[T-TownVol]

I'm 31 and still almost $20k in debt. I just wish I wasn't stupid enough to take all the money they offered me in college. I thought my folks were gonna pick up the bill, eventually, but pops lost his job. Like a dummy, I accepted every cent I qualified for with my good grades. I lived large in college when I should have commuted and saved.

Most will not admit that is the real problem here.

 

[T-TownVol]

seriously hope he wasn't a business major

did he do all 4yrs at the same school? Was it in-state?

don't cloud the issue pj....the rage against the machine is in full swing

 

[Weezy]

The Hopr Scholorship is a joke! Comparing my kids tuition (has kept the sholly 4 years) against some friends who were in school before the Hope it looks like tuition went up almost $ for $ with the Hope award.

Tuition would've went up with or without Hope.

 

[T-TownVol]

Tuition would've went up with or without Hope.

shhhh....he is venting

 

[T-TownVol]

this makes demographic number two that BHO is trying to buy off......first seniors with the medicare bonuses and now students with loan forgiveness........"STEP right up.....WHO will be next!"