I thinks it's time to address this.
>When it comes to student loans, millennials are adopting a disturbing “out of sight, out of mind” attitude. New survey research from Citizens Bank shows that recent college grads either lack information or are choosing to remain willfully ignorant of the details surrounding their educational debt and how they’re repaying it.
Want proof?
>• 45% of survey respondents didn’t know what percentage of their salary went to paying off their loans.
>• 37% were unaware of the interest rate on their loan.
>• A very oblivious 15% were even unaware of how much they owe.
>• 44% claimed not to fully understand the difference between federal and private loans.
>Most Millennials are unwilling to prioritize debt repayment over quality of life.
http://www.forbes.com/sites/jmaureenhenderson/2016/04/07/the-scary-truth-about-millennials-and-student-loan-debt/#7089de0ab8ae
Well this is just terrible.
jews make more money with massive debt and cheap credit
news at 11
>>73788747
>>73788798
>>73788747
Yeah, people taking loans have no responsibility in this.
>>73788688
In summary, they are idiots that don't even check their loan?
I honestly think one day in the future they will start arresting people with major school debt, either putting them in federal prison or private debtor prisons.
Good thing my $80k tuition cost was covered by scholarships. Living college debt free.
people who go to college to get ethnic studies degrees or whatever probably just want to hang out for four years. not surprising they don't want to think about how much it costs.
>>73788688
Being ignorant is a choice. You have the internet to learn literally anything.
Is Comp Sci a meme degree?
Idk how millenialls are stupid enough to get student loans. You cod literally just join the airforce or any other branch in a Jon infantry role, do 4 years in an air conditioned office with zero expenses minus your cell phone, get out with 40k in savings plus the GI bill to pay for college, and veterans home loan to buy a house at much better interest than any kid your age. You can also dump 200 a month into your 401k for those four years and start saving for retirement plus use tuition assistance to get an associates degree while your still in. It's literally life on easy mode but every libcuck thinks they DESERVE to go to UCPartySchool for 4 years right out of high school and major in sociology without paying a dime.
>>73788960
no they don't
cheap credit means that you have to go into debt to afford anything
Private debt is near it's highest level in history due to cheap credit (along with mass immigration, outsourcing, etc)
>>73789171
I hope not, it's what I'm studying.
Usury is the worst crime of mankind alon with murder and rape. But millennials aren't innocent in this. They think money is free and live off a dream of just going to college and not working hard and getting everything handed to you. Then they forget to pay their bills or pay the minimum payment each month which is likely a quarter of the interest gained every month. They're stupid enough to fall for the scheme then they deserve to go broke and die off.
What irritates me is that instead of pulling themselves up by their bootstraps, they turn to socialism and Bernie sanders to wave his magic wand and make their debt disappear. They're delusional.
>>73789171
Nope. Sitting on nearly 6 figures after 3 years of work. Finding a job is super easy. To get a decent raise you just have to find a new job if you want.
>It's another "/pol/ whines about everyone else and talks about how superior they think they are" episode.
>>73789293
I'm half a year away from studying it.
>>73789254
>cheap credit means that you have to go into debt to afford anything
This belief is why you'll never have nice things.
>>73788688
The Scary Truth About People And Loans
I understand the idea behind credit and loans, but to put it into common national practice was a really dumb fucking idea. Of, for and by the people. The US is >$16 trillion in debt because the people are >$16 trillion in debt.
>>73789315
How is the job itself in general?
What do you do?
the hours?
>>73789370
>I don't understand usury
When wall street was deregulated in the 80s they got carte blanche to pump up massive credit and debt bubbles and fuck over consumers with loose lending practices that meant very high prices in education, housing, etc.
You have to go into debt to afford anything good in US society you have no other choice. That's the whole point of banks making easy credit in the first place.
>>73789651
>>73789634
It's pretty good. I actually enjoy programming, and no brag but am good at what I do, so that has some affect on salary and ease of finding jobs. There are tons of bad programmers out there who still find work though. When you're good it is extremely easy.
Hours will vary by company but mine are fairly lax. 930-530, work from home allowed, nobody really cares as long as your work is done and you don't miss meetings.
>>73789651
inb4 wall street was never deregulated
http://cepr.net/documents/publications/dereg-timeline-2009-07.pdf
It's amazing how many libtardians still shill for wall street jews on /pol/
>>73789781
what a substantive reply
>>73788688
Greasy kids and their latent autism
>>73789370
Do you not understand inflation? You're literally losing if you're saving. You're literally gaining if you're in debt.
>>73788747
>2003
>Invasion of Iraq kicks off
>hundreds of thousands of men and women joining the military and earning GI benefits
>college administrations realize they can charge what they want for the next decade and Uncle Sam will foot the bill
>vast majority of student body not prior mil, don't care because degrees have become mandatory for employment outside of dreaded TRADE WORK
>.edu making money hand over fist all while requiring students take more electives to bolster profits and justify garbage programs
>>73788688
Student loans force middle class kids to bed to live in poverty. It's how they will swallow the next middle class generation into living arm-to-arm with cradle to grave benefits seekers. Part of the transition into a serfdom... not really surprising.
>>73789894
So hedge your savings from inflation.
Why do you Americans can get so easy a 100k loan? No bank here would you give 10k if you doesn't have a good stable job.
>>73788747
What are the CDO attached to student debt? Because I have savings and I think is time to invest on securities on the default of those CDOs. I know that you can't technically default on student debt but I think you guys are reaching a point where millennials would rather not work and starve and live on donations (that I would guess isn't taxable) than to pay their student debt. The moment people are going to jail for their student debt it would be the moment to buy massive securities on the OCD.
You have to outjew the jews to gain money in this world.
>>73790037
The federal government loans directly to students, and makes huge profits off it.
>>73789370
Let's say you're a normal 18 American 18 year old and you're getting into college.
You've gotten accepted into some very decent universities but your parents do not wish to pay for it.
What do you do? Assuming it's not some useless meme major is it better to go in debt or just not go to college?
Why is it so expensive? Precisely because of the cheap available credit. If people can "afford" it the colleges will hike up the prices.
So what fucking choice do you have. If you want to be an electrical engineer be prepared to dish out the cash.
>>73790037
Federal subsidies and debt is protected from bankruptcy.
>>73790037
Student loans, they're pretty much guaranteed and require no collateral since they can't go away from declaring bankruptcy.
Also because of this, schools continuously increase tuition costs since the government will give out student loans to anyone who applies. It's why Bernie Sanders gets a lot of support for wanting to do something about it, but the worry is that college would just become highschool 2.0, without the accreditation or teaching requirements that makes free/low cost university work in Europe.
>>73790208
>>73789370
>go into debt to afford anything
>college
>an investment
>anything
>>73790029
So get a student loan. Got it.
>>73790370
>meme
>arrows
>>73790414
>>73789370
>>73790029
Finally someone else gets it. Literally no reason to EVER be in debt. Get scholarships or work your way through college. I know many people who have done that including my girlfriend who paid for her masters. Debt is dumb and credit is a meme.
>>73789894
We are living in bizarro world when this mentality is the norm. Has no one heard of growth stock mutual funds? Do you seriously believe being in debt your entire life is the way to build wealth? This is insanity.
>>73790208
in addition demand has been increased exponentially for college because of
>wealthy foreign transfer students increasing demand
>outsourcing of all production jobs that don't require degrees to China
>mass immigration lowering wages of all blue collar work
>the government banning IQ tests to companies that would allow them to bypass higher education credentials (which is how most high quality non STEM majors were chosen prior to the 80s)
>constantly giving minorities scholarships to attend college
All these factors along with cheap credit has caused a huge increase in prices for college and therefore profits for wall street, colleges, etc
>>73790547
looks like it hasn't gained since 2000
>>73789825
What industry do you work in and with what language?
I'm about 3 semesters from my cs and am strongly considering going into security
>>73790574
Except most people aren't smart or STEM majors so they just do whatever their college/parents tell them to do.
Cheap credit is what allows these dumb impressionable kids to sign themselves into decades of debt without knowing what it is they're doing.
>>73790682
>2013
>+3
>2,062.26
>Composite index
>>73790574
>We are living in bizarro world when this mentality is the norm.
No, we're living in a bizarro world where this is reality. You are literally guaranteed to make money if you're in debt because inflation reduces the amount of debt you have to pay back.
Why do you think companies that give student loans make you pay back 2-3x the amount you originally loaned? It's because if they didn't, you would be gained money from your debt to them.
>>73790836
That's a problem with parenting then. Most parents don't even save for their kid's college, they don't push them to get scholarships, and they don't tell them to work while in college. Then they encourage them to attend out of state, ridiculously expensive schools because their kid is an idiot and wants the "experience" rather than attending 2 years at a community college knocking out the easy shit then going for the undergrad in state. So the idiot kid who was raised by idiot parents takes out tens of thousands in student loans for a bogus degree or law school which they are most likely to NEVER finish.
Credit and FICO score is a meme that causes people to chase a number by taking out more and more loans with the false promise that it will build wealth. That is completely wrong.
>mfw
>>73789943
You're a wise man friend
>>73791242
but all of this is only possible because of the reasons stated above
>>73790583
None of this was happening from 1946-1980 people would have htought it was crazy to say "everyone needs to go to college and "debt can get you anywhere.
Wall street deregulation, outsourcing, mass immigration etc is the root cause of this situation not the Boomer parents general cluelessness and naivete (since they went to college when you could pay it off with a part time job as a waiter)
>>73791217
That's the most ridiculous statement I've ever read. I have never heard of anyone MAKING money by being in debt (exception being a mortgage because homes gain equity).
Unless negative interest rates are set, you aren't making money on debt. The cash value of your outstanding debt may be lower 20 years from now due to inflation, but you've still paid 20 years in interest to the bank. So no, you are not building wealth by being in debt.
>Take on debt
>Blame the bank
test
>>73792162
Pass
I've been feeling a looming sense of dread and despair about the future. While i myself am completely debt free, i lack a good education and full time employment. But it's more about the prospect of a dying job market. Increasing amount of obsolete professions, the seeming lack of goal or purpose in life.
What is our civilization even trying to accomplish at this point? What are we working towards? How am i an integral part of that?
I can just see it before me, how more and more jobs become obsolete as they are replaced with AI and automation. And the people who think they were so smart getting their computer science and engineering degrees. Guess what idiots, things only need to be invented once.
We will have huge number of unemployed and useless people hanging around, at least they won't afford to have children hopefully and the population will decrease and find a balance.
People might think that in the future when everything needed for survival is automated we will live in a utopia where everything is free, guess what idiots, it will just mean you people are useless, and the people on top won't be able to justify your existence any longer as a resource drain. They're going to get rid of us all, it's the only logical course of action at that point.
So fucking bummed out about all of this.
>>73788688
i ran into some job troubles and stopped paying my student denbts and credit cards. Changed my phone and haven't looked at it for 2 yrs or so. Hopefully a bunch of ppl doing the same will crash this plane with no survivors.
>>73792059
>banks make ridiculous lending standards to illegals and Tyrones who can never pay
>pay the people who can't afford higher education w/o debt
>>73792553
Won't the government just withhold your paychecks?
>>73792565
*blame the people
>>73792616
hasn't happened yet. idk ill cross that bridge when i get to it.
>>73792002
>I have never heard of anyone MAKING money by being in debt
I guess you haven't heard of the federal government then, huh?
>but you've still paid 20 years in interest to the bank.
Interest is precisely the point. Banks ~need~ to charge you interest. If they didn't, inflation would be transferring value from them to you every day you were in debt to them.
The fact that banks charge interest rates proves being that being in debt is profitable.
Not my fault they either
- take useless degress
- dropping out of classes from indulging in debaucheries
- enroll in needlessly expensive resort like colleges
- get baited by fake schools
>>73789894
is the interest rate on loans lower than inflation?
>>73789171
It depends. Overall I'd say no, but if you're lazy and don't bother getting real experience, then you really lessen your chances of finding a job.
>>73792565
blame the fed for forcing banks to give out sub-prime mortgages
blame the banks for calling sub-prime mortgages good mortgages
>>73792813
it's around 6%
>>73789370
>cheap credit means that you have to go into debt to afford anything
Pretty much yeah.
Look at how the economy is set now. Look at jobs. Think how many jobs need college degrees. Now think how many people could go to college without student loans. If they don't get into shit tons of debt to get a degree to get a job then the alternative is poverty and a tent city.
This is why America is fucked.
>>73788688
Its funny how they go to the """ best""" schools in the world, and still dont understand basic economy
Young me was stupid and picked a low paying major. Switched and now I'm doing a STEM field at as low a cost as possible. I'm racking up a lot of debt but working the whole time to at least make some payments on it. This damn degree better pay off.
>>73788688
>be 19 years old
>going to school, working full time and running two businesses
>learning a trade, will graduate next year
>zero debt
>scratch that, turning a profit
>meanwhile everyone else my age is a bern victim earning a meme degree and racking up piles of debt
My generation is retarded. I can't wait to watch it all come crashing down.
>>73792480
your more upset about the economy than the mudslime invasion and White GeNOcide?
if it comes to it, we can produce enough for our countries to survive, the only reason we need this stupid constant growth is to pay kike usuary
>>73788688
Agreed OP. My fiance has like $150,000 in student debt, and she regrets it more than anything else in her life. Her only parent (mom) has rented her entire life and has little sense of major fiscal responsibility, and she signed those loans at a time when she really didnt grasp what she was getting herself into.
Fortunately she majored in something useful and in high demand (occupational therapy) and has a solid job that will pay her six figures + full union benefits over time.
But these loans are totally fucked. They either shouldn't exist, or students should be forced to sit through a course to better understand them before being given the opportunity to sign them.
>>73792813
Interest rates vary, depending on factors like credit score (your trustability) or what you intend to use the loan on. The point is that debt is profitable. The fact that interest rates exist proves this.
This thread was ripping on millennials being ignorant of their debt. The reality is that in this economy debt isn't a bad thing.
>>73792756
You mean the Federal Reserve is making money on debt. The creditor ALWAYS makes money on debts, that's why they are so happy to loan money to people. This is totally beside the point because we are talking about debtors here, the kids in student loan debt, the people with $40k in credit card debt, etc. They are NOT making any money by being in debt.
>>73792861
>blame the fed for forcing banks to give out sub-prime mortgages
The FED policy of lending out to Tyrones and Pedros who could never afford was passed by Robert Rubin, a jewish Wall Street insider, and a Clinton official (Secretary of the Treasury)
stop trying to give wall street a free pass.
>>73789359
>anime
>>73792892
so if inflation is around 2%(what is claimed) the debt is still increasing by 4%? yet people think inflation is reducing their debt? loony
>>73792900
>This is why America is fucked.
>flag
>the mayor of the capital
>>73788747
>jews make more money with massive debt and cheap credit
How if those taking loans don't pay them back?
>>73793148
>But these loans are totally fucked
They prey on the young and the gullible. It's what boomers love to do.
>>73793276
>comparing the shitskin of London to a full on American economic disaster
Oh Vlad, try harder.
Good.
Young people have been plunged into debt already by the elder generations with their pension plans and the like.
In the UK, if you don't pay off your student debt after a certain amount of time, it just gets cancelled.
Fuck paying it back if you're not making enough money to.
>>73789171
I owe 30k on a compsci degree, I got a dui and now it's worthless.
>>73793148
>They either shouldn't exist
hurrr give me free stuff
>>73793208
blame the CRA and Obama's ACORN for targetting banks who wouldn't lend to low credit score niggers
>>73793278
then they get the collateral, or in the case of student loans, they are in debt forever, and enough pay to cover the money lent, when you consider that the money is magiced into existence
>>73793278
The banks don't "own" the debts they repackage them and trade them with other securities in order to create a credit bubble.
Eventually the whole system crashes and the banks get trillions of dollars in bailouts. SO in the end it works for Goldman Sachs because they get free money after wrecking the economy, but the kids who got into debt are still fucked for life
>>73788688
>44% claimed not to fully understand the difference between federal and private loans.
What's the difference? Can't default on federal loans? Private loans have higher interest rates?
>>73793148
But there is a course/counseling before you get the loan. You are required to complete "loan counseling" prior, and it's VERY in depth.
It covers loan amount, interest, spending controls, budgeting, actual vs. Inflated costs, everything.
If you're crying foul after graduation, it is completely your fault
>>73793439
>>They either shouldn't exist
>hurrr give me free stuff
where did i say that? i said the LOANS shouldnt exist, or at least require a comprehensive course on what they mean-- not that college should be free.
i really wish 12 year olds like you would GTFO of /pol/.
>>73793439
>CRA
That's what Robert Rubin (a Goldman Sachs employee) was responsible for reforming in the 90s during the Clinton administration to create the sub prime mortgage crisis
>Obama's ACORN
Obama is bought and paid for buy wall street and the Chicago Jewish Democratic machine
So yes he does deserve partial blame as a puppet of wall street.
>>73793551
>But there is a course/counseling before you get the loan. You are required to complete "loan counseling" prior, and it's VERY in depth.
if this is true, it certainly isn't true for all loans, or is a new requirement (we are in our 30s, she took the loan out in like 2004)
This is why Bernie needs to get elected so he can make all our debt go away and make college free for anyone else :^)
>>73788688
it's all going to plan!
good goyim! cry for free stuff!
incur massive debt!
>>73789359
I'm pretty sure you should know what debts you have. That's like, the prime thing anyone with an IQ of 100 or higher should be capable of.
>>73789221
Sounds Super Nice famalan
>>73789651
>>73789828
The interest is what kills me.
They should be interest free at least.
>>73788747
>>73788798
An honest graph would begin in 1978. Why 1978? Copypasta to follow.
Recently, research has counterintuitively indicated a need to scale back the financial aid we offer prospective students since such policies have thus far made higher education LESS affordable. [1]
In response, there has been one main criticism to that research: "How in the world could increased college assistance have come BEFORE increased tuition costs?" "Go ahead," exclaim the skeptics, "look at the historic record. Tuition increases came first! They were not CAUSED by expansions in financial aid!"
We decided to fact check this critique by doing precisely what was asked; looking at the historic record.
[The following dollar figures have all been adjusted for inflation.] From 1971 to 1981, annual tuition and fees for higher education only rose $2 for a public two year facility. [2] You read that correctly. ONLY two dollars. For a public, four year state school, in state tuition and fees had actually DECREASED $190. For the same period of time, a private four year institution, ALSO decreased by $304. [2] This is very important to note. It means that the cost of higher education was NOT rising at an alarming rate at this point in history. Rather, it had actually decreased or, at most, broken even. (depending on the circumstance) Since that time, however, tuition unfortunately inclined sharply.
So then, what is the record on financial aid for higher education? Unlike the claims from the critics, expansions in financial aid programs DID come BEFORE the start of the tuition crisis. Federal financial aid had its start in 1958, with the National Defense Student Loan Program for low-income students, the precursor to the Perkins Loan Program, and soon after with the Health Professions Educational Assistance Act of 1963 [a]. Note, however, these were relatively small programs and therefore didn't necessarily distort the market in any impactful way. They truly were helping low income individuals, and thus were not wide-scale programs.
>>73793983
It wasn't until later, in 1965, 1972, and 1978, when the financial aid that we recognize today began to take hold. In 1965, for instance, the precursors to the Pell Grant and Stafford Loans were created as part of the Higher Education Act. [3] At that time, a key change occurred in the way federal tuition loan programs were financed. "Instead of using government money directly, the loans would be made by bankers. But if students defaulted, the government guaranteed that IT would cover the tab." [4] Think about this perverse incentive for a moment. It meant that capital could be offered in the form of student loans under the presumption that profit from said loans could be kept privately, but if and when losses arose, banks and investors wouldn't have to lose their money since TAXPAYERS would foot the bill. Effectively, this was socializing losses while privatizing gains. It would take years for this perverse incentive to grow into a large scale problem, but it eventually did.
>>73794011
In '72, the precursor to the Pell Grant was created, but more importantly, Sallie Mae was created by Nixon and the Congress. Sallie Mae was a firm that received help from the treasury to buy student loans off of banks, freeing the banks to then offer even MORE federally insured loans. [4] From that point forward, banks had nothing to lose by offering loans since they - quite literally - could ONLY profit from the exchange. That meant a bank's sound underwriting reasoning, which typically would lead them to decline risky or unreasonable loan requests, was no longer present. If that weren't bad enough, the most important change came in 1978 with the Middle Income Student Assistance Act, which expanded federal student assistance programs to include middle-income students in addition to low-income students. [3] This is where everything changed. From this point forward, most of these financial aid programs were no longer limited to a minority of low income applicants, but instead became the norm for nearly the entire populace. Under this arrangement, loans would eventually be made to nearly everyone regardless of the requested price of tuition, and tuition would therefore be free to rise unchecked since no financial institution was saying "no." It should be no surprise, then, that this was the last decade our nation enjoyed relatively affordable tuition. Since that 1978 expansion, the cost of higher education increased more than 13 fold; about 1,225 percent. [5] To put that into perspective, in the same time period, ordinary inflation (CPI) had only increased 279 percent. [5]
>>73793840
You should look at the content of the deregulation
http://cepr.net/documents/publications/dereg-timeline-2009-07.pdf
Basically it became legal for walls street banks to create debt bubbles, manipulate the markets, collude, and put us in the mess we are currently in.
>>73793198
>They are NOT making any money by being in debt.
This is not true in all cases. Like I said, debt is profitable. The only reason debtors aren't necessarily making money off their debt is because creditors are charging them interest to compensate. This leads to a few cases where the debtor can "win":
1 If your interest rate is low enough, you will be making money on your debt.
2 If you restructure your debt, you can end up profiting.
3 If you just aren't paying interest, you are making money off your debt.
A lot of student loans end up going the way of 3. The "punishment" for 3 is the government can take money from your paycheck. If you don't have a paycheck to begin with, there's really no reason to pay off your debt. Hence we are in the situation we are in.
>>73794037
CONCLUSION:
NO, massive and alarming increases in tuition did not occur PRIOR to expansions in financial aid. The expansions in financial aid occurred PRIOR to the tuition crisis. We have a legitimate problem on our hands, and it's important that it be properly diagnosed if we are ever to fix it.
Sources:
[1]
http://www.nber.org/chapters/c13711.pdf
[2]
http://trends.collegeboard.org/college-pricing/figures-tables/tuition-and-fees-and-room-and-board-over-time-1
[3]
http://www.finaid.org/educators/history.phtml
[4]
http://m.huffpost.com/us/entry/3622709
[5]
http://www.bloomberg.com/news/articles/2014-08-18/college-tuition-costs-soar-chart-of-the-day (also the source of the graph)
>>73789306
Usually you don't have to start paying until after you get your degree or leave so as long as you don't mess up you'll be fine
>>73792480
Situations like this are nothing new. The way out and forward is social change. Revolutions and upheavals are coming. Are you ready? Have you joined a political action society?
>>73793604
the loans shouldn't exist, but it shouldn't be free
do enlighten me on how that works
>>73793631
>Robert Rubin
that cunt? I thought he was just a talking head
don't forget that alynsky was obysmals mentor
>>73793803
>the prime thing anyone with an IQ of 100 or higher
half the White population has lower than 100, and much more than half(88%) of the niggers and spics
>>73793941
1978? why not 1776?
> Come from single parent home
> Mother only has a GED
> completely on my own when it comes to funding future
> Have no clue about grants, scholarships, etc
> only person in my family who has ever attended college
> The only way i'll ever go to college is through loans
> college is ridiculously expensive
> 60k in debt
> my future is enslavement to the jews
>>73794011
>Effectively, this was socializing losses while privatizing gains
this is true though
>>73794037
>(CPI) had only increased 279 percent
only
>>73788688
you see i dont get this.
my university allowed my to pay my student fees as i went.
i didnt have to take a loan since i worked alongside going to university.
never even had any loans.
i worked at a fucking backery for fucks sake to pay for my chemistry phd.
>>73794788
and now you cook meth?
>>73794060
Neither of which actually generate wealth or are not common at all.
>debtors aren't necessarily making money off their debt is because creditors are charging them interest
That's the whole purpose of debt. Creditors make money. If people didn't believe debt was the way to financial success then credit wouldn't exist. In the rare case that you actually come out ahead with your debt, how on earth can it compare to getting a 15%+/yr growth on an investment account?
>>73789022
Yes, our education system taught an entire generation that everyone should go to college, now they are surprised that the stupid people went to college
>>73794906
working for a company that develops carbon fibre alloys.
its pretty neat.
24k for 10 years in school.
>>73795105
You'd probably make more money if you cooked meth desu famalam
>>73794631
From the 40s-80s anyone could work a part time job to get them through college even in most expensive schools
College being expensive only benefits wall street kikes.
>>73795105
aah, that famous german humor
fucks sake hans, make an effort
>>73795204
No one remembers Breaking Bad
>>73794631
How the fuck do you manage to get THIS in the hole?
You should have just joined the naional guard you god damn fool. They basically pay for your college (if it's in state)
>>73789022
They're scared of looking at their student loan balance.
>>73795179
probably. but im living comfortably and make a surplus every month and i dont work fridays.
imo as long as i dont live paycheck to paycheck everythings well.
and i still dong have any loans.
>>73795204
i dont get it.
>>73795021
>That's the whole purpose of debt. Creditors make money.
banks create money out of thin air, research fractional reserve banking, they can lend 10 times aws much as they have on hand, and since those loans go to a bank, those banks can lend out another 9 times on that, then 8 etc
MAGICK
>>73794055
>and put us in the mess we are currently in
This is where you fail. The recent mess was caused by a housing bubble which burst. What caused the housing bubble? What caused banks to give loans to people with a high risk of default?
That began with the Community Reinvestment Act of 1977. With the passage of the CRA, banks were "encouraged" to give loans to low-income individuals, which are the the same people with the highest risk of default. And by "encouraged", we means blackmail. Failure to provide loans to low-income individuals could result in government disallowing a bank to expand, acquire another bank, or merge with another bank.
Janet Reno's Department of Justice was particularly aggressive in enforcing this act. This meant threatening banks with negative actions if they did not increase loan rates to low-income individuals. At the same time, James A Johnson was changing Fannie Mae policy to guarantee more subprime mortgages from private banks. What do we mean by "guarantee"? It means that in the case of default, the government will cover the loan and the bank has no risk of loss. In this way, Fannie Mae would make profits private and losses public. This was all done by the Clinton administration as a push to increase homeownership rates and it worked. As the attached picture shows, rates rose rapidly throughout the late 90s and early 00s before a wave of defaults.
>>73795302
now I suspect you are trolling me, really das ist very unkind meine kirchenbaum
in case das ist nicht - breaking bad is a show about a chemistry guy who cooks meth, you also worked in a bakery(which is also known as cooking)
>>73792565
The majority is normal citizens from middle and lower middle class.
>majority is white
:(
>>73793662
My wife started taking loans in 2005 and she had to complete the counseling
>>73795342
The problem with such a policy is that those at high risk of defaulting will default at higher rates. They are "high risk" for a reason. When the next downturn in the economy came, 2007, mortgage defaults skyrocketed. When a house goes into foreclosure, the financial institution which controls the loan now owns the house and wants to sell the house quickly to get it off their books. As such, they will often undercut the market value. With a large wave of defaults and more houses in foreclosure, this helped to drive down the price of houses further. As the price of houses are driven down, more people become underwater in their loans and more people choose default as the superior financial option.
At the same time, investment banks can bet for or against various investments. One of the ways to bet for or against an investment is credit default swaps. Those who were betting on real estate growth ate their shirts. The sudden loss of home values by upward of 50% is what turned a business cycle into an economic collapse.
>>73795316
Because they can magic money to loan to dumb people, banks always come out on top. If the supply of money was controlled by the federal government exclusively, without a private bank, and backed by confidence in the security of that money (NOT GOLD), and completely debt-free, then the entire country will be financially successful.
But of course we have Jews controlling the supply of money.
>>73795454
oh ive heard of the show but never watched it.
i dont really watch tv.
i can see how youd assume i was trolling.
>>73788688
meanwhile we had to take out a fuckton of loans because the only scholarships available are for women, ching chong ding dong and laquisha
>>73795342
>That began with the Community Reinvestment Act of 1977.
Which was reformed in the mid 90s by Robert Rubin a jewish wall street insider and Goldman Sachs employee to encourage lending to Tyrone and Juan.
Trying to say wall street is blameless is ludicrous. T Hey ran the Clinton administration and created the conditions for the wall street bubble using their cronies in the 90s from Alan Greenspan to Rubin to Larry Summers.
>>73795481
white could afford tighter lending standards that keep costs down
Only Tyrone and Pedro need sub prime (losses credit, liars/NINJA loans that is the have No Income No Job No Assets) loans to afford anything.
>>73788688
>mfw I've gone to 6 years of school
>mfw I have zero debt
>mfw I get a six-figure starting job
>mfw I have no face
>>73788688
What the fuck did anyone expect? The vast majority of humans are irresponsible, and student loans are available to pretty much everyone. There's some "Faces of Student Loan Debt" video that's meant to evoke sympathy in the viewer, and it features a woman that went $280,000 in debt to learn "Eastern Medicine", which is basically fucking nothing. Dumb ho.
>>73788688
Uni being funded... Eventually they will see that gov got to pick up tab.
Does not bother me
>>73794631
You can still get a 4 year degree from an in-state public university for under $30k total in most states. This is more expensive than it would be without government drastically inflating costs, but it does not require you take on six-figure debt. Anyone paying more than this for any university outside the top-10 in their field is making bad decisions and has no one to blame but themselves.
>>73795189
>From the 40s-80s anyone could work a part time job to get them through college
Until the Middle Income Student Assistance Act of 1978, yes. Then the cost of college exploded.
>>73795021
>That's the whole purpose of debt.
>Creditors make money.
For the fifth time, this ~only~ happens because creditors charge interest. If creditors ~didn't~ charge interest on debt, they would ~lose~ money over time. What does this prove?
Debt alone is profitable for the debtor.
You say "the whole purpose of debt" is to charge interest. This isn't true. Interest is a side effect of inflation. Otherwise, creditors would never profit from giving a loan.
>>73788688
The solution is simply send the Millennials to World War 3 to die.
>>73795774
>white could afford tighter lending standards that keep costs down
>Only Tyrone and Pedro need sub prime (losses credit, liars/NINJA loans that is the have No Income No Job No Assets) loans to afford anything.
I don't think banks rank payment power by skin but income, assets, equity and liabilities.
>>73795774
>Which was reformed in the mid 90s by Robert Rubin a jewish wall street insider and Goldman Sachs employee to encourage lending to Tyrone and Juan.
In 1995, yes. The most insidious part is that no law was passed to put this reform into place. It was done entirely within the Clinton administration with no input from Congress and thus no input from voters.
>Trying to say wall street is blameless is ludicrous.
Someone working for the Clinton administration made it worse and you blame Wall Street. Certainly Rubin came from Wall Street, but Goldman Sachs did not write those regulations. Bureaucrats did; bureaucrats who were hired by the Clinton administration.
These were changes a select group of people on Wall Street wanted and the Clinton administration gave to them. This may surprise you, but every single person, business, corporation, or other entity in the US wants certain things from government. This is true in every society ever. It is the choice of government to listen to the destructive interests of one person or group over others.
>>73794631
>Chooses not to go to community college
>Or even a state college where he can live at home
>Decides to go all out even though he doesn't have the money and complains about the debt
>>73789844
>>73789844
No one is buying this bullshit line anymore and its a gigantic loser politically.
>scam 17-18 year old kids into loans
>school brainwashes necessity of college
>college costs drastically inflated by government interference in market
>need more loans
This is the perfect *true conservative* issue but *crickets.
But by all means lets import Pajeet with his government paid education in on an H1b and pay him $45/hr.
US born engineers gets fucked out of $95/hr by Pajeets after having taken on 30-60k of student debt.
Seriously hope Trump is smart enough to take this issue from Bernie. Middle class non-insane Dems on the coasts are the people that see college as a necessity and will get whiplash from the speed at which they give Trump a second look and eventually convert.
>>73789154
This right here.
>>73796079
>>73796713
>Goldman Sachs did not write those regulations
Rubin was little more than an extension of wall street as Secretary of the Treasury much like Alan Greenspan, Ben Bernake, Janet Yellen, etc as FED chairmen just act as lobbyists for wall street and only in the interest of wall street.
To pretend otherwise is childish and naive
>>73796165
>banks rank payment power by skin but income, assets, equity and liabilities.
non whites (or asian) have low income due to the fact they're irresponsible morons
That's why banks need low lending standards in the first place because they don't "want" to only lend to people who can afford it. Hence why they turn to blacks, Hispanics etc.
inb4 we are all one race the human race.
>>73797458
>That's why banks need low lending standards in the first place because they don't "want" to only lend to people who can afford it. Hence why they turn to blacks, Hispanics etc.
Source?
>>73795983
>under 30k total
You're living in a fantasy world.
>>73789306
>What irritates me is that instead of pulling themselves up by their bootstraps, they turn to socialism and Bernie sanders to wave his magic wand and make their debt disappear. They're delusional.
It's a choice between making a change, or doing what they've always done - what's always worked for them. Is it really surprising?
>>73788688
>>Most Millennials are unwilling to prioritize debt repayment over quality of life.
so boomers are actually proud of being cucks to their jewish masters
>>73797458
>To pretend otherwise is childish and naive
I don't pretend he didn't represent the interests of Wall Street. I would like for you to not pretend the Clinton administration didn't know this when they hired him. Moreover, I would like for you to not pretend regulators rewriting acts of Congress isn't a complete perversion of separation of powers which the courts have been upholding since FDR threatened to make them irrelevant.
These abuses come from government, not Goldman Sachs. Goldman Sachs merely profits from them.
>>73788688
>took out 10k in loans back in 2008 to get polisci degree
>graduate but can't find non shit job to repay loans
>two years later get job as fucking software developer because fuck being a lawyer nowadays
>check on loan
>owe almost 100k
I will never fucking give those kikes another penny. That degree is worse far less than what I paid for it, let alone the interest.
>>73797791
I'm living in a world where I got mine for under 20k. Tell me which state you live in and I'll tell you what it costs for four years of public university as an in-state student.
I have to admit it. Me and my brother moved to UK from Poland. Born in 91 and 94 we would qualify as millennials however we're nothing like your average British guy in his 20s. Western Millennials are most spoiled people in existence. Those cunts can complain about the necessity of taking a side job on uni or cost or rent just so 15 minutes later they can go and buy a $40 bottle of whiskey. I imagine it's even worse in USA.
>>73789943
although i don't discredit entirely what you wrote, we've had the GI bill since ww2 and college didn't become radically expensive after we downsized the Army in the late 40s and they all went to college.
>>73796079
Your entire argument has been based on absurd theory and not real world application. I don't even know what you're trying to prove.
Yes we all agree if you got a huge loan and there was no interest the amount you paid back would be worth less than what you got.
No one is rushing out to get loans and sit on the money though, because interest does exist and debt in the real world is not profitable by itself.
>>73788688
My brother got a bunch of scholarships and grants, including a Texas Pell Grant. One of the conditions of the grant is that you can never drop or fail a class. He now has a BA in programming, and has to pay literally nothing.
The education system still works as intended. The smart get to sail through, and the dumbasses get held back.
>>73798204
American millennials will be more spoiled but our lot probably complain more.
Moaning is a British thing after all.
>Mfw so many people ITT is surprised that a business wants to make money off it's service
>Implying you would lend 5-6 figure $$ to your 20 year old millennial neighbour for free
>>73798357
>spoiled
i thought bongolians spelled it "spoilt"
>>73788688
>Student loans
>student debt
This can literally be solved by having non-degenerate parents that invest in their children's future. It's called a college fund, you don't even need to put a lot of money in it if you start early and go to a community college, so don't give me the poorfag excuses. Or you could join the military and get the GI Bill, the military LITERALLY pays for your college.
>>73789943
I think it's mostly giving loans to every single retard who shows up to the bank, even if they are completely unqualified. College will get a bunch of shit students that pay out the ass and they can charge good money too.
>>73798690
What if parents make minimum wage?
>>73798874
If you have children while making Minimum Wage, you and your children should be gassed for the sake of our species.
>>73798510
We do, but I've learned over the years that people tend to think the British way of spelling is an error. So I've been slowly testing the waters with American English. The irony is it's a burger pointing this out.
>>73797672
http://www.citylab.com/housing/2013/08/blacks-really-were-targeted-bogus-loans-during-housing-boom/6559/
>>73797946
>I would like for you to not pretend the Clinton administration didn't know this when they hired him
The Clinton Administration was also acting in the interest of wall street so that's a moot point.
>>73789154
Having an education from self teaching on the internet is a meme.
>>73798996
What if the kid is an orphan?
>>73798874
In 2014, 1.3m Americans made the minimum wage. Roughly half of those were under the age of 25. I don't know about Norway, but in the US someone who is 23 years old isn't sending this kid to college. Maybe you have a more accelerated education system?
>>73789221
The military won't accept anyone with Hay Fever, Asthma or Eczema. Otherwise freedumbs.
>>73799164
Then you qualify for a shitload of pell grants and get college for free.
>>73799164
Gas works on kids as well, faggot.
Does it really matter? You only get one life and I'd rather just enjoy it rather than fretting over arbitrary numbers floating around in computers. Debt doesn't follow you past the grave so it doesn't matter how much you accrue over the course of your life.
>>73799354
Edgy.
Why not >>73799247
>>73798874
I already said inb4 poorfag
But I'll make it easy, join military or you start saving the moment your child is born. You call your local Jewish monetary service provider and say, "Oy Yid, I'd like to open up a college fund for my child. Here put the $15 I usually spend on cigarettes or McDonalds every week in that account for the next 20 years."
Even if you work a minimum wage job for twenty years (You fucking failure, that's your own god damned fault) you could easily save 10 grand, which is enough for 2 years of community college. And that's not even including poorfag scholarships and jobs that the student can get, it's not easy, but if you work hard, you can do it. I know you like big gov't to take care of you in your Scandinavian hell holes, but it's possible.
>>73789306
>Usury is the worst crime of mankind
>there is no time value to money
This is why you will always be just as broke as your peers.
As if I'm ever going to pay it back. They say the trillion dollar bubble can't pop because you can't absolve student loan debt through bankruptcy, but they can't bleed a stone -- they can't take anything from zero.
So we'll see who budges first. Me, or the solvency of the government.
>>73799477
You idiot. You aren't free if you are in debt for one, and secondly, your quality of life is limited from ever increasing. So, yeah, YOLO if you're a dumb kid with no concept of the passage of time and your own impact on the future.
No debt.
Parents giving my hundreds of thousands
Gfs parents also giving us hundreds of thousands.
I don't know if really need to work.
>>73790037
its the interest
>>73799548
Thnx but no thnx. I'm well-off.
Let's motivate people together by not bowing down to pic.
>>73792059
>siding with the bank for anything
>>73799548
You'll never ever meet a poor Norwegian, anon.
>>73788688
Checked.
It's not just children (millennials) I know people in their 50's who don't get tax returns because they refuse to acknowledge their debt.
Most people saw the banks default on billions, with no consequence. They think they can do the same.
>>73799785
Honestly, I'm just confused dude, what are you trying to say.
>>73799896
Ok, I was talking about Americans mostly. I don't know how you guys run your shit, but I'm assuming it's harder to make it, if it's similar to Germany where I grew up.
>>73799896
There's also no poor people in Kuwait and Qatar. Such is the benefit of being an oil rich nation with a small population.
The only "poor" people I've met in the US are people who have made the choice to never work full time. They still tend to have numerous luxury items in their possession.
>>73799641
Lol there's no debt prison. Your "freedom" doesn't exist any more than debt slavery does. They're meaningless metaphysical phrases. At the end of our lives we will enter oblivion or the afterlife just as poor as when we entered this world. You will be forgotten in every sense of the word within 100 years. All your caution and miserly ways won't have had any impact on anything. All that makes you different from others is that you spent your life unhappy and stressed out and worried about money while I and the rest of my generation has lived a life of pleasure.
>>73792553
>credit cards
You gonna get sued.
>>73788688
then dont go bitch
>>73800051
My response to
>Scandinavian hell holes
I felt that the average American was poor when i visited the states. That's not me bashing you guys, it is what it is.
>>73790126
>I know that you can't technically default on student debt but I think you guys are reaching a point where millennials would rather not work and starve and live on donations (that I would guess isn't taxable) than to pay their student debt. The moment people are going to jail for their student debt it would be the moment to buy massive securities on the OCD
This doesn't even need to happen. Ignorant students ignoring their loan interest and surviving legally on automatic wage garnishments will lead to a massive inflation in the forecasted return on those loans, which itself will be used as credit capital, etc, etc.
When all those dumb kids die huffing aerosols at 50 with $200,000+ in accumulated student debt, it'll be a larger correction to the investment market than the 2008 toxic credit bubble.
>>73788688
just so long as the rich get richer, the masses should be grateful to suffer
>>73790574
>mutual funds
Best laugh I've had all week. Do you not know how actually invest your money yourself?
>>73793439
>blame the CRA and Obama's ACORN for targetting banks who wouldn't lend to low credit score niggers
Once the banks realized that they could securitize the shit out of everything, they were more than willing participants. Make some NINJA loans, pass them off to a bankruptcy remote entities, have them issue a certificate backed by the bundled loans, issue corporate paper backed by that certificate, and sell that paper to dimwitted investors as the best thing since sliced bread.
The motherfuckers were even securitizing already securitized debt with synthetic CDOs.
>mfw I'm on a full ride scholarship
>>73800051
>assuming it's harder to make it
Kek of the day. The government pay us to go to high school and uni. We didn't even encounter a recession during plundge in oil prices.
>>73800241
See >>73800102 our "poor" people can afford the next best luxury compared to other places. I don't know where you went, but my cousin is what you would consider "poor" and he still lives on several acres of farmland, with multiple vehicles and all the luxuries that your average Eurofag will have. Growing up in Germany I'd rather be a poorfag here than anywhere else. I've seen the European cucksheds you have to live in, and they suck dick.
>>73800421
I bet you made a lot of money on SunEdison.
>>73800421
Even if they don't have a clue and don't want to spend the time to have a clue, they should go with an ETF and not a mutual fund.
>>73800555
https://www.youtube.com/watch?v=NuoeHXO5Nm0
>>73800459
I'm talking about becoming rich, not having the government provide for you like your mummy.
>>73800753
Eurofag arrogance is unwarranted and unearned. It doesn't surprise me though, a man who chooses to live in his own shit will always defend his ways.
>>73791242
Scholarships are literally a meme and barely pay for shit.
You have to be the next super star if you want to have your shit paid for
>>73801000
That depends on the state. Some states will give you a full scholarship for four years at an in-state public university if you have a high enough GPA and SAT/ACT scores. Other states gives you nothing and you're entirely dependent on private scholarships, which as you said tend to require super star status.
>>73800978
I live in Norway. You keep saying Europe. Europe is a continent.
>>73788688
>People convince themselves or are convinced by everyone in their surroundings that they need college to survive.
>>73795342
>banksters were blackmailed into making shitloads of money.
>neocon talking points.
do you really believe this shit you're spouting?
>>73801199
Who /didn'tfallforthecollegememe/ here?
>>73801189
Is there a difference?
>>73801199
>their parents expect them to go
>their teachers tell them to go
>their friends are going
blame society
>>73801397
That reply is why i made this thread.
>>73801237
They were blackmailed into giving loans to high risk customers. The government decided to privatize the profits and socialize the losses to guarantee it wouldn't stop even when the wave of defaults came. If the wave of defaults comes and all of the participating banks go under, the program ends.
Do you acknowledge that the CRA exists and has been used by government to pressure banks into giving low-income individuals home loans?
>>73801541
You're talking with a guy that has autism (or aspergers).
Stop.
>>73788688
Every Student Loan Thread Ever
>It's not my fault I'm $50k in debt for an art degree!
>Why can't millennials just be like me, a 20 year old who used his bootstraps to net three full time jobs and a wife and a kid and a $500000 house? Surely I'm telling the truth, they just complain too much.
>out of context graph "ur dumb"
>out of context graph "no ur dumb"
>GIBSMEDAT
>UDUNNEEDDAT
>out of context graph "ur all dumb!"
>These millennials are just greedy. They fully knew what choice they were making at age 17, signing enormous government contracts in between having to ask permission to go to the bathroom to skip out on their mandatory privilege. Who cares if society told them they'd be complete failures otherwise!
>You just need to go into a trade. Whats another couple of years spent in an overpriced classroom jumping though hoops to gain accreditation for information freely available on the internet?
>WHAT IS EQUITY? THESE INTEREST RATES AREN'T FAIR! PLEASE SAVE ME ELIZABERN!
>etc
>>73801541
Have I hurt your pride anon?
Low energy
>>73801130
Arizona axed that starting with my year.
>>73789844
>get told about how good school loans are and you can go where ever you want all during highschool
>Get told you should study what ever you like
>don't get taught anything about money
>kids get swindled into signing up for 50k plus loans
Even for the retarded english majors that can never pay their loans back I feel bad for.
>Econ major, comp sci minor
>pretty damn good school
>will be 60k deep by the end of this nonsense
>actively making rich connections for post grad, but still worried
In /pol/'s expert opinion, how fucked am I?
>>73789025
>I honestly think one day in the future they will start arresting people with major school debt, either putting them in federal prison or private debtor prisons.
Yeah no. This would start a revolt pretty damn quick, not the stand out in front of a building complaining kind, the "let's just kill the fuckers who implemented this"
>>73802365
Depends on where you land your first job.
Any one of the IB BBs, you'll be fine.
>>73799592
>I don't know what the word usury means and I think it is just a fancy word for loaning money
>>73802356
>Student: Hey should I get 50k loan for a degree in English?
>Parents, Teachers, School Administrators, Bankers, Government: Absolutely, how else are you gonna get a good job?
>Student: Hey I'm 50k in debt and no one cares about my English degree. Now what?
>Parents, Teachers, School Administrators, Bankers, Government: That's your problem. Stop being greedy.
>>73802365
>In /pol/'s expert opinion, how fucked am I?
Are you willing to be a code/numbers monkey?
>>73802365
Depends on the school whether or not this was a good decision. If it's not considered a top-10 economics school (or close), you probably made a mistake in school choice at the least.
>>73802601
Smart parents and teachers would tell them 'no', to get a different degree or go to a cheaper college. Bankers and government (but I repeat myself) would tell them 'yes'.
>>73802668
I'm willing to do just about whatever needs to be done, taking as much math as I can handle on the econ side and gonna try and focus on data visualization/databases in my minor.
>>73793428
Good. DUI convicts should be gassed
>College students, who are adults, take loans on education
>Omg I didn't know this cost money! Make rich people pay for it lmao
That's the whole story.
>>73793118
Any tips for a simpleton?
>>73802754
>Smart parents and teachers would tell them 'no', to get a different degree or go to a cheaper college
If only everybody had the same kinda parents with the same kinda right Smarts (TM).
Clearly, they just should have picked their parents better.
>>73802754
>If it's not considered a top-10 economics school (or close), you probably made a mistake in school choice at the least.
>Getting in more debt to try and cash in on brand name status
He shoulda bought a Mac while he was at it.
>>73793551
>it's VERY in depth
It's a twenty minute multiple choice online quiz
>>73803301
Brand name status works. Employers absolutely prefer people from certain universities.
>>73803211
As someone said earlier in the thread, we have a vast internet at our fingertips. Even with bad parents and bad teachers, they can still learn these things on their own with only the slightest of forethought. Anyone who is incapable of even this was doomed to fail regardless of parents and teachers short of being a trust fund baby, a child of the 0.01%.
At the end of the day, the high cost of university is largely the fault of government as stated earlier in the thread. Government has been encouraging bad decisions for decades because it's good politics and now we're reaping the benefits.
>>73799195
Well I'm butt fucked in that department. Not mention sinus issues.
>cucks ITT actually defending a 1225% increase in consumer prices of tuition and fees since 1978
>cucks ITT actually defending a 1 trillion dollar national student loan debt
>cucks ITT actually defending 100K loans being handed out to 17 year-olds like candy
Absolutely incredible. When the bubble pops, and it will, it will be the fault of the those who sneered on the sidelines and did nothing.
>>73805097
>>cucks ITT actually defending a 1 trillion dollar national student loan debt
>>cucks ITT actually defending 100K loans being handed out to 17 year-olds like candy
It's self inflicted. If you don't want to pay back a loan, don't take a loan.
>>73805182
Just like how the future financial collapse will be self-inflicted. If you don't want the economy to crash, don't support a university system that obviously leads to economic instability.
>>73805676
>Just like how the future financial collapse will be self-inflicted.
This is different because the victims are a bunch of faggy liberals. They deserve what they get.
>>73805097
I haven't seen anyone in here defending it. Rather, they're pointing out who is at fault, what should be done to fix it, and why you should avoid taking on six figure debt for a mediocre degree.
Unfortunately, the problems likely won't be addressed by those in charge until the entire system collapses.
>>73805794
The entire Western world will be affected by an American economic downturn, not just liberals. My mom's house has been paid off for years; she certainly didn't take out exorbitant mortgages or vote Democrat, but that didn't stop her from losing a significant portion of her retirement fund when Wall Street bled in 2008.
>>73788688
What did they expect building a system of ursury off the backs of the future of the working class? Eventually you will get a group of people who stop giving a fuck about the system, selfishness breeds more selfishness.
>>73789781
>gif
>chicken doesn't move
I'm disappointed
>>73799603
Enjoy having your wages garnished. People who don't pay back their debts are worse than niggers.
>>73788688
>>• A very oblivious 15% were even unaware of how much they owe.
Not defending these art school retards, but I must admit to that I do not know the exact sum of what I owe my self still.
Other than I think I'm soon down under 200k mountain shekels now, if not already.
However in difference to them I knew what I got into, and kept track when I was studying. Each year another 80-90k or something
>>73801807
well then what is the solution dipshit?
>>73797977
Bullshit, where did you get your loan from, the fucking Italian mafia?
>>73806055
I hope it does, I have near zero debt but fuck the system and the selfishness it breeds.
I have a friend who insisted on living on campus in an expensive university even though his home about 15 minutes away.
He complains about his debt.
>>73808828
He wanted to live the degenerate "college life". Education institutions seem literally like overpriced adult daycare/amusement parks.
>>73807944
>Norway
>Student debt
Proxy?
>>73800423
>Once the banks realized that they could securitize the shit out of everything, they were more than willing participants. Make some NINJA loans, pass them off to a bankruptcy remote entities, have them issue a certificate backed by the bundled loans, issue corporate paper backed by that certificate, and sell that paper to dimwitted investors as the best thing since sliced bread.
>
>The motherfuckers were even securitizing already securitized debt with synthetic CDOs.
I suspect they planned it from the beginning
>>73789781
>says the country that offers free education to its citizens
>>73793428
Good you fucking cocksucking faggot. You should be lynched.
>>73808137
Stop posting this bullshit, snowflake.
>only in denbt about $7k (~8k with interest)
>haven't paid it in 4 years since I've been unemployed for 4 years
>been getting paid "off the books" about $40-50/week for the past 4yrs living the NEET life
>planning on moving into a house rent-free with a family friend soon
>demnbt is just low enough that I can pay it off in a year once I get a job again
I kind of feel bad for the cucks who have like $45-70,000 in student loan debt, but then I remember they most likely spent it all on "the college experience" and boozing it up in the dorms, whereas I tried to be a bit more sensible and dropped out after the first semester when I realized I wasn't cut out for college
>tl;dr: unemployed 5-figure-student-loan-debt master race
>>73809390
No anon the banks (pbut) were forced by the government to make money by fucking over the populace with debt, something that has never happened in economic history
>>73811264
>when I get job again
That's what most lifetime welfare queens tell themselves to excuse being worthless to society.
>>73790037
You have to cosign with one of your parents to get a 100k loan. I don't have to cosign any loans right now since I'm commuting and my college is just under 2k a semester after financial aid and stanford loans.
But because I dormed freshman year I had to cosign a 11k parent plus loan with one of parents.
>>73811899
>welfare queen
But all the student loan money went to the college, so you're wrong. I work for my money, and it's untaxed income that comes from private individuals. Lemme guess, you're a millennial who was "born in the wrong generation"?
