The next big bubble... student loans???

#33
#33
Biopsyman said:
But I bet they go out to eat a lot, drive new cars and have the latest phone
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Of course. The question is... Did they get a job for these things? Or did mommy and daddy provide them? Giving no life lesson at all and showing them at an early age they can always depend on someone else to meet their needs?

Either way their not paying on their loans... So whatever.
 
#36
#36
SpaceCoastVol said:
True. I don't think anybody on here was saying that either f the degrees you mention are worthless. Let's talk about women's/African American studies, etc etc etc...
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Agreed. I took a course in college to fulfill a history requirement called Gender and Sexuality in the Middle Ages. I was the only "traditional" major in the course, it was full of philosophy, gender studies majors, etc. It was interesting, but I couldn't help but think, "is this really necessary or worth my money?" I agree with most in this thread about having stronger trade schools and apprenticeship programs. Germany is a good model for the States to emulate.
 
#37
#37
Biopsyman said:
But I bet they go out to eat a lot, drive new cars and have the latest phone
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Those cars, cellphones and quesadilla appetizers are whats driving your economy right now. Or would you prefer them to throw that money into a rabbit hole by paying that odious debt and seeing no economic impact whatsoever?
 
#38
#38
Rasputin_Vol said:
Those cars, cellphones and quesadilla appetizers are whats driving your economy right now. Or would you prefer them to throw that money into a rabbit hole by paying that odious debt and seeing no economic impact whatsoever?
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Oh em gee
 
#39
#39
Rasputin_Vol said:
Those cars, cellphones and quesadilla appetizers are whats driving your economy right now. Or would you prefer them to throw that money into a rabbit hole by paying that odious debt and seeing no economic impact whatsoever?
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Why should anyone pay loan greater than 50g's back?

Why should stupid people be rewarded for stupid decisions?
 
#41
#41
zeppelin128 said:
Agreed. I took a course in college to fulfill a history requirement called Gender and Sexuality in the Middle Ages. I was the only "traditional" major in the course, it was full of philosophy, gender studies majors, etc. It was interesting, but I couldn't help but think, "is this really necessary or worth my money?" I agree with most in this thread about having stronger trade schools and apprenticeship programs. Germany is a good model for the States to emulate.
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Pray telleth, Led o Zeppelin. What did thou learneth?
 
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#44
#44
tumscalcium said:
Why should anyone pay loan greater than 50g's back?

Why should stupid people be rewarded for stupid decisions?
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You would have a valid point if it were not for the fact that we bailed out a bunch of banks and corporation to the tune of $800 billion with TARP (Ron Paul's investigation actually found that the amount given was in the tens of trillions). So, it is perfectly fine to throw a safety net out to companies or entities run by middle aged men for $800+ billion, yet offering any sort of relief on the $1.4 trillion owed by the next generation that will be burdened with this debt for a significant part of their early adulthood is a none starter?

You can't grow a country or an economy if your young people are shackled in debt and are having to fight for service oriented jobs sales (cars), retail (cellphones) or hospitality (bartenders & servers).

As far as the baby boomers and the rest over 30-50 years old that went out and bought McMansions, boats, expensive Sandals vacations, cars with German engineering and all of that, I wouldn't have any problem letting those guys suffer with their debt. They should have been old enough and wise enough to have known better.
I have a little bit more leniency with 18-22 year old young adults that thought they were just taking good advice from the older people around them and in the media.
 
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#45
#45
Rasputin_Vol said:
You would have a valid point if it were not for the fact that we bailed out a bunch of banks and corporation to the tune of $800 billion with TARP (Ron Paul's investigation actually found that the amount given was in the tens of trillions). So, it is perfectly fine to throw a safety net out to companies or entities run by middle aged men for $800+ billion, yet offering any sort of relief on the $1.4 trillion owed by the next generation that will be burdened with this debt for a significant part of their early adulthood is a none starter?

You can't grow a country or an economy if your young people are shackled in debt and are having to fight for service oriented jobs sales (cars), retail (cellphones) or hospitality (bartenders & servers).

As far as the baby boomers and the rest over 30-50 years old that went out and bought McMansions, boats, expensive Sandals vacations, cars with German engineering and all of that, I wouldn't have any problem letting those guys suffer with their debt. They should have been old enough and wise enough to have known better.
I have a little bit more leniency with 18-22 year old young adults that thought they were just taking good advice from the older people around them and in the media.
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Nothing. Absolutely nothing you bring can mean anything with worthless people gaining a worthless degree. Nothing.

Try again and come again later.
 
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#47
#47
tumscalcium said:
Nothing. Absolutely nothing you bring can mean anything with worthless people gaining a worthless degree. Nothing.

Try again and come again later.
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Why does it always turn to worthless degrees? Not everyone in this situation has a worthless degree.

We pay 1100 ish a month on my wife's loans. She is a RN working on NP(hospital pays for this). We're fortunate I also have a good job with no student debt.

Her family is rural lower middle class with zero college education. She had little concept until late in the process what it would be to repay this amount.

Again, we will/are paying it back, but it doesn't hinder us too bad minus extra investment/toy/ancillary money.

I can understand how first generation educated people get sucked into it.
 
#48
#48
tumscalcium said:
Nothing. Absolutely nothing you bring can mean anything with worthless people gaining a worthless degree. Nothing.

Try again and come again later.
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The bubble will burst one day, and then you will see a reversion to the norm. You are right, far too many of the people that are in college right now are worthless with worthless degrees. But, I argue that those people never would have persued college nor would they have been able to even afford college if it were not for the govt coming in with a bunch of money created out of thin air to pump up the bubble in the first place. The govt essentially was engaged in mal-investment. The money and resources used by those kids would have been better served by having most of them go to technical school or just go directly to Starbucks/Appleby's/Best Buy right out of high school instead of piling on debt for 4 years. Those kids (and the country) would have been better off if they would have gone to work directly out of high school and spent that money on cellphones, cars, having kids, buying homes, etc. But the way it is right now, the only section of the economy that would benefit from these kids paying off their student loans would be the same ones that got them into the mess in the first place... the banks. Banking never has and never will drive an economy. Only agriculture, mining and manufacturing can drive an economy.
 
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#49
#49
theutvolunteers said:
I can understand how first generation educated people get sucked into it.
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This is another argument I've made, also. It is very easy for people that had a network of people around them or a family around them to advise them on career paths and what decisions to make in life. Obviously, most of these kids don't have that. I was lucky to have a 2 parent household, but I was the first one to go to college on either side of my family. In retrospect, I got all kinds of bad advice from people I trusted. Most of the info wasn't malicious in nature. They just figured that it cost a lot of money to get a quality education. Now that was my situation. I can only imagine the type of advice these kids today are getting from their elders. Blind leading the blind.
 
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#50
#50
Rasputin_Vol said:
This is another argument I've made, also. It is very easy for people that had a network of people around them or a family around them to advise them on career paths and what decisions to make in life. Obviously, most of these kids don't have that. I was lucky to have a 2 parent household, but I was the first one to go to college on either side of my family. In retrospect, I got all kinds of bad advice from people I trusted. Most of the info wasn't malicious in nature. They just figured that it cost a lot of money to get a quality education. Now that was my situation. I can only imagine the type of advice these kids today are getting from their elders. Blind leading the blind.
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This
 
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