http://www.wsj.com/articles/more-than-40-of-student-borrowers-arent-making-payments-1459971348?mod=trending_now_5
Sheeeeit, mi familia.
What are the repercussions of this?
More prostitution. OP's webm related, whether it's intentional or not.
>>70277243
Who cares? Fuck the banks, fuck the FED, we aren't going to pay them back shit. Thanks for the free college assholes.
>>70277243
where on earth do people find such high res upskirt vids?
all I can find is shitty 240p vids on tube sites
also for your question
>students not making payments
bubble like 2008
its not a coincidence that it's gonna happen at another election
>>70277243
Student loans are a scam. They talk you into debt slavery for the rest of your life, to pay for an 'education' that will teach you absolutely nothing of value, in order to get a piece of paper with which to one-day impress a recruiter. Maybe.
Don't take student loans, go get a job and educate yourself after work, you'll learn a lot more and you won't go into debt.
>>70277906
Go to a 2 year school and pay your way through with a close to full time job. Living at home is the best way to do this if your parents will let you. Then transfer to a 4 year state school and go for something profitable.
Surprise now you only have 20k in loans (assuming you were not frugal at the 4 year) and are probably making ~50k a year starting with a quickly increasing salary.
Nothing. The government will just make them pay for it for the rest of their lives. It's essentially just tax money.
>>70277243
So yeah, they're just lazy fucks looking for a handout. Not exactly news 2bh
>>70277243
Post another webm and I'll read your article.
>>70277243
>>70277243
Lol I graduated last year with 17k in debt. I still haven't found a job and I could give a shit less with all the lying cunts in politics and government. I'm making the minimum payment though. If I get a job I can pay it off in 6 months or less since I'm a neet and don't have to pay rent.
What percentage of that percentage are still attending university?
>>70277243
The banks knew exactly what they were getting into. There are actual several different financial fields where you pursue this sort of thing and work with it.
>>70277433
Lol, keep thinking that. At some point you're gonna get your wages garnished bruh
>>70278415
I dont think you are required to pay government loans until you graduate, and even then they are deferred for a 6 months or so. At least that was my situation. But thats a good question.
Just go to community college mate. You can transfer to a better school and save a shit ton of money, and you never have to tell future employers about it.
>>70278409
only $17k? not bad
>>70278272
Not true. Loans will start defaulting again, it will be a bubble just like the real estate one in 2008 except with no collateral to seize.
>>70278409
You literally just paying interest while never reducing the principle
Goddamn your a moron, you deserve to be in debt.
>>70277243
just kill them imo
>>70278409
whats your degree in?
Close the programs , make school more affordable ,but don't give loans anymore. And bail out all student loans as of that date.
How much was that bank bailout?? How much was that Car company bailout
??
>>70278533
there are not jobs
can't garnish wages if you have none
>>70277433
And there goes your credit. Goodluck ever getting a penny loaned to you again.
>>70277243
I think government is the collateral so, YOU pay for that
>>70278841
What did you get your degree in? Most of my friends with majors who were "not supposed to get jobs" got ones in like 3 months. Unless your a dumb ass arts major or something like that I dont see why there are none.
Can anybody post the full article for poor people who don't sub to wsj?
>>70277433
Forever a poorfag
>>70278752
yeah just bailout kids who decieded to major in dance poetry or womyn studies great idea faggot
if we bail out kids with college debt then they will keep racking up more debt knowing baby daddy fed will take care of them
>>70278944
he probably lives in a commie state like California where government regulation sent all the jobs to the based states like Texas
Is anyone surprised?
>>70278944
SO wait, just because your fellow american bought into the predatory lies of high school counselors and college propaganda , you want to just tell them fuck off and leave them in slavery despite your government spending trillions on useless causes??
>>70277433
Typical shill. Entitled millennial.
>>70278142
This is what I'm going for. I mean, shit, it may take me like 3 years to actually get my associate's degree but that entire time I'm gaining work experience and saving money at an actual job, not Mickey D's 15 hours a week. The factory I work at ends in "Technologies" so I can make up all sorts of bullshit about what I did there once I get a real degree.
Work ethic and pace is really whats most important at any job. I feel like I've learned more in 1 year working than I did in all of high school, I'm assuming I'd be the same way if I went right into college: lazy with no skills.
>>70278386
Not op but this is for you anon.
>mfw didn't fall for the student loan meme
>>70279013
If you would read my whole comment, I say stop the loans, make education cheaper which will happen if they aren't guaranteed college loans. And yes pay off the debt slavery of people who fell into predatory practices of the government and colleges. It would be a worth wild investment unlike the trillions we are currently spending on everything else.
>>70279142
>found the gender studies major
>>70277628
>where on earth do people find such high res upskirt vids?
You make your own.
>>70278409
Good job. Instead of getting a job after graduating high school and saving up for college, you couldn't resist 'gibesmedat' and you have to pay the bank now, too.
>>70279189
It took me over 3 years to get my associates and 6 to finish everything. But im on track to be debt free and own my own house in full by the time im 30. Keep it up man.
>>70279224
srsly were do u guys find these,
or do you take them yourself?
either way I approve
Can someone tell me exactly what happens if you don't pay off your student loans? I know you can't go BK to erase them. Will they garnish your wages or throw you in jail?
Pls someone explain.
>>70279303
Actually, I studied History and English, but I did get a job working in you schools. That to me is worse as yes I couldn't get a job outside government and my income is paid by the tax payers. Noe of that changes my points or discount what I'am saying.
>>70277243
>What are the repercussions of this?
The bubble might be bursting
>>70277243
I'm making ~$800 a month and am paying $300 each month towards my loans. Sure I live with my parents, don't have a car and ended up with a useless degree, but I'm keeping up my end of the deal.
>>70277243
I lived in an RV when I went to college... on the road... full time. Boondocked the whole time. It was cheap as hell to do, but I get I could say that I got lucky, as I had no major mechanical issues when living in it.
A word of advice to those that might give this a try. NEVER let your black tanks get completely full, and whatever you do, no matter what, ALWAYS MAKE SURE THE SEWER HOSE IS LOCKED TIGHTLY IN PLACE BEFORE EMPTYING YOUR BLACK TANK..... AND NEVER STAND RIGHT NEXT TO IT WHEN YOU EMPTY IT.
Don't ask why I know these things....
The horror..... oh GOD......
>tfw no student loan debt at all anymore
Those grants and scholarships sure were nice
>>70279468
What would happen if the "bubble" "burst"? So a huge chunk of young Americans decide not to pay. What happens?
>>70278668
The loans can be "in default," i.e. not being paid. But I don't think you can default on them, because bullshit reasons. So they're always on your books.
>>70279392
I'm not sure as I pay mine, but the fact that is the only debt that can be wiped away through Bankruptcy should be a sign to you fuckers how corrupt that system is beyond just stupid students. Anyone or any business can do that ,but not private citizens with student loans.
>>70278668
>not true
LA-LA-LA-LA I can't hear you !!! Lol, I bet you're a Bern victim. Why would the government let the most profitable program they have to collapse? Sorry kiddo, you're stuck with your dumbass loan forever.
>>70279392
Debtors prisons are illegal. They can garnish your wages and Social Security up to a certain amount though until the debt is paid off.
>>70279285
Jesus no one made anyone go to college. Turns out successful people think for themselves and make their own conclusions. Anyone who " fell into predatory practices of the government and colleges" will never EVER be successful. Clearing their debt wont fix shit.
>>70279535
>is you a trans nigger or just smart?
>>70277243
Americans dom t realize how fucking retarded is the fact that you need a loan/shitloadofmoney.jpeg to study. Oh wait perhaps is because the govt wants everyone to be stupid
>>70279392
You can go into bankruptcy (on private loans) you just have to prove you can't pay and that paying would be a financial hardship . You have to be really really poor and you still might only get a partial discharge its a case by case basis. I say if you really are in a shit ton of debit just use the money you would have paid to get an attorney and stay frugal as all fuck.
>>70279539
The people with actual jobs get to pay them off.
And we will beat the interest out of you.
Bernie will save us all no doubt
>tfw you have 24k in debt
>all subsidized loans
>none of it accruing interest since you're going to school for free now
I won't finish my degree until 2017 and after that I'll do a masters for free because my employee is paying for it. They're currently paying for my Bachelors (1st one i paid for hence my $24k in debt). There's a real possibility I won't pay until 2020 which would mean that my loans would have been in an interest free state for 8 years. I could pay it whenever I want but I allow inflation to eat away at it.
>>70278533
>>70278873
>the current year
>working legally
>taking loans for anything
I'd honestly rather live in a cuckshed in buttfucking nowhere putting together porches for rich niggers than give the fed one red cent
>>70279563
Are you fucking retarded? I'm arguing the exact opposite of that dipshit.
I'm going to fuck off back to /biz/
/pol/ is making me angry right now
Read a fucking econ book you faggot
>>70279539
A majority of universities would go under, as future students would be unable to borrow money from the federal government to go to school. Student loan services would also go under, as if they're not getting paid back, then just where the fuck are you going to make a profit from.
>>70279596
Young white conservative leaning male senpai
>>70279435
cool bro you picked a major that does nothing but let you teach which we all know is a 50k/year for life career. Its not a bad one and its needed, but you knew damn well when you picked your major you wouldnt be making engineer/doctor money so its no one elses fault but your own if you racked up too much debt.
Im going to community college and classes are 500 dollars for 12 hours and then i can transfer to a state school and graduate with minimal debt. If you "fell for the predatory government" then its just survival of the fittest and you sir, are not the fittest.
>>70279708
>>70279708
they need to. they have been praying on the young,
>>70279392
Are you fuckin 12? What do you think happens when you're past due on all of your shit? They start garnishing your wages, trashing your credit, and harassing you with debt collectors. It will get to the point where eventually the thought of having a house to live in is a distant memory and nobody will be willing to rent you a couch.
The people who do pay for them have to pay a higher interest rate to cover the higher rate of nonpayment/default.
This is why interest rates on student loans are higher than stuff like mortgages, where your house is collateral that probably isn't even depreciating, so the bank can take it if you don't pay.
But Bernie voters will go "Y INTEREST RATES SO HIGH? HURR DURR MUH BANKSTERS"
>>70279487
Money becomes less liquid. Banks raise interest rates on student loans. Less people get education. Good for me as I have less competition as well as having no student debt (Thanks mum, thanks dad).
>>70279708
Yeah, that's what we all thought back in 07-08 with the major banks.
Nope, taxpayers got the bill.
>>70279723
do you mind me asking what kind of grants/scholarships you recieved? like are you just ching chong bing bong smart or what?
>>70278841
I guess enjoy a lifetime of poverty then, debtslave.
You can either not work and live in crushing poverty. Or work and pay a big chunk of your wages and live in poverty anyway.
Goodluck, degree-chattel
>>70279806
Administrations as universities are the really bloated ones, and unis have been spending money on new pools, dorms, and other amenities that have jackshit to do with education, in the hopes of attracting more money. FAFSA and allowing students to borrow ridiculous amounts of money has caused unis to jack the cost of education up over and over, because they know they can get away with it.
We really need a reset button and a change in our higher-tier education systems. Absolutely ridiculous the amount of money we pay for the same shit that Europe has at a 1/10th of the price.
>>70279793
I didn't rack up too much and I'm paying it.It well probably take me a decade to pay it off the way I'm going.
Me aside, these people you fuckers are smashing are at fault by the letter ,but they have also been taken advantage off by our fucked up gov/and big businesses.
The college system needs to be put in check and no not everyone needs tog o or should go to college. They bailed out the fucking rich people and their shady business deals and you fuckers are complaining about the mere mention of bailing out your fellow citizens at the rich peoples expense . the government wont even change the loans into no interests loans for educations they already take enough taxes to provide for free.
>>70279858
Nobody's is garnishing your wages for a past due. Lenders will still work with you to make payments. It's defaulting that you don't want to do, which is where the federal government comes after you until you get the loans back in good standing.
>>70278841
Keep on thinking they won't garnish your neetbux,
>>70277243
Why pay when Obama told me it'll be forgiven after 20 years?
if anyone wants to get past wsj.com paywall, just go here and then click the link
https://www.google.com/search?q=More+Than+40%25+of+Student+Borrowers+Aren%E2%80%99t+Making+Payments+&ie=utf-8&oe=utf-8
>>70280044
I agree totally.People should suffer for greedy fucks usury.
>>70277243
More college degrees, and therefore a better economy :^)
>>70280138
>bails out idiots who picked meme tier degrees
>idiots who want to pursue meme tier degrees now do so because they know the government will bail them out
>MFW
>>70279539
Nothing. The federal government gets screwed out of some money and some private lenders go under. Federal student loans will continue on anyway. It'll be a small blip.
>>70277243
Collapse!
>>70280240
Which means a PhD grad will get out of debt by, what, 55?
>>70278409
good for you
but you're retarded for aspiring to pay off the your student debt that quickly, it's not going anywhere, pay that shit off last. If your choices are paying off a pointless debt that makes minimal interest and investing that money, invest every time.
>>70277243
Jews go bankrupt. Then they say oy vey, muh congressionally-passed law which makes it impossible to default on student loans. Gimme dem shekels goyim. And then tax dollars get dumped all over their banks, triggering Great Recession #3.
>>70280348
No they wont, every time I said bail them out I also said stop the government loan programs as well.
They have grants, scholarships and alumni support already. they don't need government guaranteed loans and people shouldn't elect them.
>>70280348
>Banks boorrow money to everyone because they know the gov will bail them out
>MFW
I'm not a autist hta savs reaction images
>>70278142
I am currently doing this. Paid cash for community college transfer degree for CS. Paid roughly 14k for 2 years of cc. Now in a private university, 36k a year - education reinbursement from work, scholarships, and grants. I'll owe 12k total after I graduate next year.
>>70280348
We should never lend to meme tier degrees and give better loans to degrees we need, maybe even give small payments out.
>>70279858
Is that carly fiorina?
>>70280418
more like 45-50
>>70278841
>there are not jobs
And you wonder why you're unemployed.
People gotta really chill with the (YOU) / Some are at fault for using the loan situation to get into some sort of school coming from an impoverished background. Especially when folks get out of state scholarships to schools in which you still have to pay out of pocket even more so than just buying books. Take a look at a real art school with an interdisciplinary study curriculum and you will find that the standard student has about 7-8k of merit scholarships that are barely enough to pay for a semester. Add on artist grade supplies and you are pay up to 3k out of pocket just to pass a few classes...and you STILL have to buy books for your Gen Ed classes.Plus the fact that you might actually want to finish school on time thats 18 credits + what job can you possibly hold besides selling / hustling or flipping ....the system is far from inerrant and not everyone has the same focus for finding proper occupation that suits them to stay afloat in America.
>>70279939
not that guy, but I probably have a similar story as a free boat babby
>be raised by single mother in a ghetto
>floating under the poverty threshold, household income is ~13k a year
>neighbors sell heroin
>dont do heroin
>take AP classes in highschool, actually try to do well
>3.7 gpa, won several regional competitions
>pell grant, presidential scholarship, rand scholarship
>only need to pay 4k out of pocket
all without being black, too! what a rush!
>>70280445
Investing sounds good on paper but there is nothing wrong with paying off student loans quick. Its a guaranteed ~4% interest. Just doing something is better then most.
>>70280530
>14k for 2 years of CC the fuck nigger?
12 hours for me is 500 dollars a semester plus book costs what CC are you going to?
>>70279224
Thanks.
>>70277243
Post the full link an I'll read the rest.
>>70280459
That's exactly what happened rich got that no default law put into place in 2006 right before the recession. and the law to allow anyone to get loans in place circa 1995. This a new thing and again the only type of loan or debt no one can get rid through bankruptcy ever. Never did that exist before 2006 in this country.
>>70280675
proud of you anon, yet niggers claim when theyre in the hood they are trapped yet you made it out through hard work.
The bubble really can't burst, the government gave unsecured loans which in theory would advance the country and expand the economy.
Unfortunately, instead of college leading to advancement, the universities took the easy way out and created degrees that any idiot could complete and gladly took the governments money. Realistically the government should be going straight after high loan delinquency colleges on fraud charges while simultaneously not forgiving student loans for the students either dumb enough to pursue useless degrees or unmotivated enough not to succeed even with a useful degree.
No matter what happens, ultimately the governments main failure was trusting both colleges and students who clearly did not deserve it.
>>70280648
>Real art school.
>More in debt grocery store employee
So this is just slavery pretty much?
>>70278748
Social studies with a minor in music
>>70277433
welcome to debtor's prison
>>70280531
>tfw your cousin majored in womyn studies has no career, travels around the country in a subaru bartending and votes for bernie sanders
>>70277243
Just another massive liability.
Nobody cares about the mountain of other liabilities, just add it to the fucking pile.
>>70280708
IL is expensive
>>70279539
who is this semen demon?
>>70280793
>Cunt that probably doesn't have a passport
>>70280858
>teach abroad in nipon
>slay sluts
>make money pay off debt
>?????
>profit
>>70280962
Illinois?
>>70279142
>SO wait, just because your fellow american bought into the predatory lies of high school counselors and college propaganda , you want to just tell them fuck off and leave them in slavery despite your government spending trillions on useless causes??
>>70280881
I always thought that people like that were over represented on the internet. But looking at all of the females i know who graduated, I only know one or two with a decent major out of ~15. Around 8 are womyn studies tier.
>>70280781
we're all gonna make it anon
also, funny story for you guys
>day of HS graduation
>sitting in back row of auditorium stage
>dumbass basketball american next tries to light up a blunt he hid under his mortarboard
>IN FULL VIEW OF EVERYONE
>expelled that day, doesn't get a GED
>four years wasted all because he couldnt wait a fucking hour to start smoking
you literally can't make this shit up!
So basically these student loans are like welfare for universities...
If there weren't so many government loans, the schools would have to lower the prices...
>>70281037
Nah I do, i have traveled around Europe 5 or so times. What are you going to do paint in France?
Enjoys your debt suckers...
>>70278409
How can you not find a job and a border hopping Mexican can?
Seems you're either retarded or unwilling to do actual work.
I recently moved to another city and a week later have 3 jobs (regular week one, afternoon one and weekend one).
No it's not as bad as it sounds, as I like what I do and it's not shifts so it's shorter than 8 hours for a workday overall.
>>70281199
*diploma
not GED, what am I saying
Do US student loans carry over in any way if you die?
My greatest solace is that I won't have to saddle my family with debt from a shitty degree when I eventually choose to die.
I can't imagine how awful it would feel not only to have no escape but to know that others will be further burdened if you decide to take the only way out.
>>70281326
Nah but i I went to school in London and ended up living there and still payed my loans ...keep it moving.
>>70281163
dude its real, either nursing or some teaching degree yet they spill the .77 cents meme
>>70281355
Best thing you can do is move out of the country / start a business or take them to court if you are poor enough ...
>>70281104
Yes
>Residents of Illinois pay an annual total price of $17,262 to attend x Community College on a full time basis. This fee is comprised of $8,250 for tuition, $6,888 room and board, $1,608 for books and supplies and $516 for other fees.
So yea I paid roughly 7500 plus books, most of which I downloaded.
>>70281458
One of the two good ones is a nursing major, she started at 56k, hardly low. It probably caps out around 70 but still not bad.
>>70279074
>Texas based
Sanctuary cities
Instate tuition for illegals
Free school/healthcare for illegals
No border control
600,000 violent crimes by illegals committed against Texans in 5 years
>Based
Don't make me fucking laugh
>>70278142
You chose the good route
>Be me
>Went to college never having had to work
>No debt accrued, mommy and daddy
>Kept failing the meat of the courses for my major
>finally dropped out and work my ass off to develop work ethic, what it means to live on your own, what it means to not be privileged, and what it means to actually want and work for more
Stick with it, going in without a fuck in the world given yielded slim to no results. Gotta care to go to college, even if it's just a little
>>70280708
mine was like 9k maybe 10k
>>70279285
But think of all the proffesors, TAs and administrators that will lose their jobs.. All those rent seeking liberal arts positions gone
>tfw family is too poor to help pay for college but makes just enough to disqualify for need-based funding
>>70281334
YOU HAFSA GO BACK
>>70281762
I worked ~30 hours a week in high school and during my 2 year, that definitely helped me make the decisions I did. It might have actually been the reason. It seemed really shitty in the moment but in the long run it has definitely been worth it.
>>70281355
Your estate will pay the balance of the loan if your worth is high enough. You can't literally saddle your kin with student loan debt though.
>>70280311
>less valuable bachelors degrees
>>70279939
>>70280675
You get a direct advantage if your parents are divorced, since you can just use the lowest income of the two in your FAFSA
>>70280785
Also, as long as the US is the dominant economy there is no limit to how much money can be spent by the US government. I read a story on Bloomberg (inb4) about a theory some economists have that mega spending by the US government have basically no downsides.
>>70281769
>>70281592
jesus christ m8s i live in Texas and my tuition is 500 dollars a semester.
>>70277243
If 40% of srudent loans aren't being paid does that mean that 40% of those that took student loans have no income as they would be garnished anyway?
>>70282020
Was the special kind of
>you can't have a job
>we'll take your 3k '03 civic away (only transportation)
>focus on grades
Naturally, hated all aspects of school since it felt like prison and has never felt like what the other spectrum of things are. It's been a year since I dropped, honestly not that bad, might go into a trade instead. Wearing a suit in a cubicle never seemed like the ideal job
>>70281355
In the US you're never liable for your ancestors debts.
Makes you think about hypothetical reparations for slavery.
>>70282186
>tfw your parents are divorced and your mom doesnt have a job
College Kids need to sign onto the "Pay as you Earn" program ASAP. It's a 30-year repayment plan. Your debt will be forgiven after 30years, with the remaining balance just being taxed to you as a form of income.
In the worst scenario where you can only pay the minimum until you're in your 50s (God forbid), you'll just end up having to pay about 20% of your $50K debt or whatever, which is a lot less expensive then paying the whole debt.
>>70282266
>m8
>Texas
Seconded though, WCJC was dirt cheap for 12-15 hours
>>70282197
>>70282197
>no downsides
As we export most of the inflation over seas you are correct
>>70281690
>he thinks the majority of Texans approve this
m8 theres no income tax, my CC is dirt cheap and i live in north texas where the beaners are civilized
>>70282285
Those who let their wage get garnished are just trying to hide from their loans anyway. There are literally like 100 different ways/reasons to get a deferment for years on end if the borrower is having monetary troubles. The problem is when borrowers try to pretend their loans don't exist, but student loan lenders are actually really really really generous(almost to a fault) when working with someone who actually communicates with them.
Every time the government distorts the market we get a big bubble and a big crash.
Well intentioned but misguided uptopian libtards think they are helping society, but they only wreak havoc.
>>70282377
Sounds like a kike trap
>>70278142
I made money going to a 2 year college first, exact same education my cousin paid for at a four year.
>>70282314
I have definitely seen similar people in your situation do the similar things. Experience like this shows how to raise children to be successful. Your upbringing will continue into your adulthood, what a surprise right????? At least you realize what you need to do, thats better then most who just complain.
>>70281249
>welfare for universities
That's exactly what it is.. It's funneling money to liberals
>government isn't actually making money off of these loans
wait, what? I've been this entire time they've been making bank off the interest.
>>70277243
Doesn't matter.
Once President Sander's is sworn in all student debts will be immediately absolved.
>>70281855
You don't need to go to college to be educated or successful, but it certainly helps. If you go to community college for 2 years then a state school for the last 2 you can get a degree for about $25,000. That's a lot of money but even for a family that makes minimum wage it's not an impossible amount if they manage their finances well.
The thing is that you can get any degree you want for that money, computer science, engineering, mathematics, medicine, you name it. You can study something that is profitable, become a rich man, and then give your kids the luxury to study English or Gender Studies, and give them the luxury of never having to worry about paying for college.
>>70282741
Substantiate that please because I doubt that's what his plan is at all.
>constantly memed that you have to go to college to get a "good job"
>"good jobs" are chock full of diversity hires and h1b1 poo-in-loos
>realize that you've been lied to your whole life
>pick up a trade
>start making more money than 90% of the college grads that looked down on you
>>70282982
He got me ...
>>70277243
godamn I don't like those screenshots, I remember some fat ugly motherfucker taping me but never realising I was a guy . shit spooked me out and was embarrassing
>>70282604
Yup, can't turn school into a prison growing up, enter the stage of your life where it's optional and costs bookoo bucks, and expect those people to want to be there. Almost doing the same exact thing my dad did to the T with a few ideological differences, which he was trying to avoid but obviously had the wrong approach, and I didn't even know it.
Still trying to figure out when working a trade became worse than a liberal arts degree, he was a welder himself. Now project manager for Oil&Gas making his 6figs. Don't see the problem; like working with my hands and a head injury developed scar tissue in my frontal lol in the 8th grade, foosball, damaged my cognitive ability+epilepsy. Life is what you make of it
>>70277243
The current system is a blank check to colleges. There is so much bloat in the system that isn't contributing to producing meaningful skills for students. I would be very happy if all colleges were forced to publish earning statistics/employment of graduates by degree. Perhaps reward students who go to a cheaper college with lower interest rates. Require students to acknowledge the debt and see how long it would take to pay off assuming future income.
I could of went to some very expensive schools, but I sat down and figured out which one gave me the biggest bang for my buck.
Student loans are except from bankruptcy, THEY FOLLOW YOU FOR LIFE NIGGA THERE IS NO ESCAPE!!!!!!
>>70277243
Who is this semen demon desu.
Is anyone really surprised?
>muh free college
College has been effectively free for a long time; that is, free while you go there - and if you can't afford to pay later, you just don't. What are they gonna do?
>>70277433
>Hello garnished wages
TFW went to a top accounting school (top 3 in USA)
TFW can't get job due to shitty interview skills
TFW making 45k a year with 21k debt.
All my friends clear 60k+
>>70283853
All they have to do is set up the lowest possible payment plan if there's any sign of getting wages garnished.
>>70277243
Beware of the Military, Industrial, Educational complex.
>>70283913
Mother is a CPA, laid off because of reduction of force (actual cause is office politics), worked ass off, 50-60 hours a week, not the first time, is okay with interviews even though track record beats it immensely. Even STEM degrees themselves have a bleak career outlook
>>70279689
>"I'll do a masters for free because my employee is paying for it"
>be American
>be poor
>finally get a job
>trying to save up to move out of the basement
>your boss makes you pay for his grad school
Absolutely savage, christ almighty
We just need some loan forgiveness honestly. If kikes can default on their shekel hoarding schemes then the same should apply to student loans. It's not like a degree is worth a damn these days anyways.
Education shouldn't be viewed as something that should only be pursued because it brings a personal economic benefit. Everyone benefits from a more educated populace.
>>70283831
Except when they make you pay through every other source of income, assets, credit rape, and can't bankrupt out of it. You pay it back whether you want to or not
>>70279686
Oh god muh dickkkkk
>>70283913
I had a friend who went through a full year of interviews before he finally got a job. He said it was the worst time in his entire life and in the end the only reason he was finally employed was due to cronyism because he had family in the company.
pic related
>>70284291
Pretty sure they meant to say employer. Some places will pay their employees a portion of the tuition bill if they go into business, trade, etc. whatever they deem relevant to the job.
>>70277243
another bubble to pop
>>70277243
>want to have kids
>don't want to have a daughter and spend 18 years trying to raise her as a proper christian only for her to do something rebellious when she leaves home and have a complete stranger record her bum to put it on the internet for the world to see
>my biggest fear is that she decides to race mix and ruin my perfect european ancestry
why the government let bad students/shitty degrees get a loan ?this is the most important question
>>70278533
>>70283853
>not moving yurop/basically anywhere else because no one will extradite you for fucking student loans
>not using your free degree to it's fullest extent because you got one that's actually useful instead of a toilet paper arts degree
>not exploiting the fact that scholarships almost always exceed the cost of study abroad programs and you're allowed to keep the difference, allowing you spend the rest of the semester forming connections and making preparations so you can skip town when the time is right
Thanks, Mr. Goldstein!
>>70280995
Alexandra Daddario.
>>70284494
I dont really see things like that happening where I live. I have a stem major and I had a choice of jobs when I graduated. I even had two at once at one point. Even my friends with very low tier stem jobs found work pretty quickly.
>>70277906
This to be quite frank fabmillia.
>>70280153
There isn't anything wrong with defaulting though from what I can tell based on those who have done it.
Besides, debt collectors sound like massive dicks.
>>70284265
You talk like Holt. I find that surprising though - all finance fields are booming where I live.
>>70284625
Universities make money off of everyone, not just STEM majors. It doesn't matter to them wtf they do after they graduate.
>>70279858
some landlords dont look at your credit score. Is not that hard bro, there is hope.
>>70277906
>3 years STEM experience and degree
>recruiters still picky as hell and have all these questions when i finally get a phone call
>try to low ball me for 30% under standard rates
>>70284647
>Buying stuff you know you can't afford
Who's fault is that really
>>70285589
maybe if you want to live in the south side of chicago
>student loans
>ever getting paid back
>>70277243
Got a bunch of school debt. Got a job, but it pays so shitty I can get a deferral. Don't expect to ever make any money. Just gonna get a deferral until inflation makes my loans equal to the price of a cup of coffee. Hooray?
>>70279487
>>70287051
>-berg
EVERY TIME
>>70278873
Emigrate. No one gives a shit about US credit reporting in most of the world.
>>70287331
We are working on treaties to change that!
>>70281334
>I'm passionate about human rights
Hard pass right there. Stopped reading.
>>70280138
>It well probably take me a decade to pay it
>well
Yeah, unfortunately for you, it probably will. You poor bastard.
>>70277433
Congrats on taking on the only kind of debt that cannot be forgiven by bankruptcy. Only death can clear student loans.
>>70283913
>mfw was in the MPA program at UT (NUMBA ONE N SHEEIIIT)
>mfw I trashed it and switched to finance (accting minor)
>mfw interning at a boutique IB and will prob be clearing at least $100k starting later this year
I would honestly rather off myself than work in auditing, tax, etc. Shit is soul-draining, or at least it was for me. Good luck anon.
>>70277243
If this is true then its the student loan collapse in the works.
It won't be as bad as the housing bubble at least.
>>70277243
fell for the student loan myth. dropped out after freshman year, worked two years, now back in school working part time making 38k at a sales job and paying for school with that and living with my folks. still trying to figure out how the fuck im gonna come up with 1/4 million i need to pay for law school in a few years :(
>>70277906
>graduate with 20k in loans at 3.6% average interest
>make 100k my first year using a job my degree specifically prepared me to do
Keep crying, pleb
>>70277433
jokes on you, back in the day my college was actually free
smugasfuck.jpg
>>70289913
>myth
Google literally any variation of "student debt" you want, rabbi.
Took out $4500 subsidized loan. No interest or payments until a year after graduation. Free money lmao.
I put it in my brokerage account, I trade options. Thanks Obama :)
>>70277243
I went to a community college then transferred to a state college. No debt because I worked part time.
>>70289913
>law school
>student loans
>>70290182
I have a 3.9 GPA and made a 171 on my LSAT, why are you laughing goyim?
Guys im a recent economics graduate, basically all my economic professors were saying that student loan have now become a bubble, and that if this bubble bursts it will be worse than 2008
they also said that if it comes to that, the gov'mt will probably step in and have massive loan forgiveness, ie govmt paying off loans
>>70290362
I know several lawyers and they are all miserable as hell.
>>70290413
As long as I am wealthy I will not be miserable :3
>>70290367
2008 wasn't just people defaulting, it was defaults on massively leveraged debt instruments that were worth far more than the loans were worth. I seriously doubt that sort of structure exists on student loans, which can't even be walked away from.
>>70280246
>https://www.google.com/search?q=More+Than+40%25+of+Student+Borrowers+Aren%E2%80%99t+Making+Payments+&ie=utf-8&oe=utf-8
Thank you underrated post
>>70281338
Because illegal mexicans don't complain about their employers breaking employment laws or most laws for that matter.
Hey pancho go dig me a six foot deep hole three feet wide and six feet long then put this hooker in it
Si Senor
for your trouble here is a free box of grapes you can sell off the freeway off ramp.
>>70278873
>giving a single fuck about a fictional loan number
Please give me a 20,000 dollar loan with stupendous interest so I can forever be in debt :^)
Thank you greatest ally.
>>70277243
Student borrower who refuses to pay on $90,000 worth of student loans here.
Why do I refuse to pay? Because this summer I'm leaving the United States forever and living the good life in Germany. I'll renounce my US citizenship and just drink beer and grab big ol' bavarian titties all day.
>>70291189
>fictional loan number
Credit affects more than just future loans, brah.
I have a federal student loan of about $20k
I am making over 1k a week
Should i pay that shit ASAP or just do about $500 each month?
>>70277433
Keep dreaming what will happen is their degrees will be rendered useless unless they leave the US to find work since the drag from all the unpaid loans will tank the economy. Once we lose our credit rating those degrees wont be worth shit and no one will give out loans to their kids for their education.
>>70277906
I wish I knew what I was getting myself into when I enrolled. I'm going to have to pay $40K+ for information that I could have amassed within a year of at-home studying.
I'm hoping the "get your foot in the door" motto pays off because this degree is feeling worthless right about now.
>>70291368
Good. Those loser breeders who insist on having children will be the only ones who care. My kids aren't going to get educated because I'm not going to have any.
>>70291189
>stupendous interest
You can get student loan rates in the low 3%s if they're federally subsidized
>>70291292
The more interest you accrue, the more money you end up paying. If you'd otherwise just be saving money in a bank account, you're better off paying the loan (barring keeping some savings for emergencies)
>>70291292
depends on if you think you could put that money to work to make money faster than your loan interest rate
I paid back my $4000 in loans. Feels good.
>>70291470
Good for you. Keep saying that when the bread lines start and your drafted into what ever war begins because no one paid their loans back. Everyone pays anon one way or the other. Also please don't have children you would make a horrible parent.
>>70279686
>people get off on walking around and filming up-skirts
low test
I pay like 100 a month degree paid for itself already
Kek I have 0 loan debt because the state pays for my school all I had to do was be a man and serve a few years in the military. Now I work from home and make 50k a year doing jack shit in front of a computer. I don't even pay taxes on half that amount and I can get drunk at work all day long. Stay pleb poor lazy faggots.
>>70291862
>TFW permanently DQ'd because you used to do drugs
They can't pay down their loans cause they'll constantly buying pills and rolling at their local concert or club, then wake up feeling exhausted so they won't search for jobs while complaining about unemployment on instagram
>>70291255
>Germany
But anon, that's where the brown people live now.
>>70280836
Debt is slavery, Anon, but at least normal debt is just indentured servitude until you pay it off.
The colleges are milking the government via the federal subsidized loan programs. If and when the gov't cuts back on these then same colleges won't be able to fund their administrative payrolls and the campus construction projects. More students will be less eligible to receive grants or aid and private loans from banks may be necessary for enrolls to college. The price of college tuition may slowly drop if there's a free market in the public college market; and if there's an elimination of the state price-hikes for non-resident students. What I wonder about is this: if the more and more debtor students or grads are defaulting on their loans and unable to find high-quality, high-paying jobs, and those debtors make up the tax base, then how can the gov't taxes pay off the national debt for the student loan programs? There's a lot of debtors who aren't working (ie, womyn turned full-time moms after college), and who don't have high incomes that can be taxed to generate income for gov't.
>>70292070
You had it coming then. Drugs = loser for life. You brought it on your self.
>>70280226
Can confirm they don't.
>>70292070
>not lying to your recruiter
It's like Rush Limbaugh saying he was DQ'd for a pilonidal cyst. I had a pilonidal cyst going into MEPS and told the doctor examining me it was a hemorrhoid in recession. It just depends on how badly you want it, and I wanted it badly.
>>70292299
Anyone got an answer to the question at the end of my post?
>>70292233
Debt is not slavery. Idiots who don't know how to work or manage debts deserve to be slaves however. If you cant pay your bills your a dead beat and dead beats belong in the streets. Maybe make better life choices next time.
>>70278142
I did this. 4years out and I only have 2 grand left in debt.
>>70283913
>got an employable degree
>making $45k/yr
>debt only $21k
You need to work on your interviewing skills, but you're on the right track. It may take a while, but $21k in debt is manageable, that's no worse than a typical new car. In fact, you are the case where student loans work. It's the idiots that get an art history degree paid completely by loans that walk out with a quarter of a million dollars in debt that are the problem.
>Aggressively paying of my $16k of loans
>under $3500 now
I'll be done before the election at the rate I'm going. Feels good, except I'm working on a decade old peice of "enterprise" software. New job for a new year
>tfw a college degree and no debt
I came here to bwa ha ha at you
>>70292299
>MFW the current generation sees the worst recession known to man due to their irreconcilability and hedonism then they blame the generation before them.
>>70292694
irresponsibility fng tablet auto correct gets me every time.
>>70277243
my degree got me a $30/hr job entry how do people not pay their debt back? did everyone get a degree in bullshit?
>>70292457
Good point, the people who wind up with 6 figures of debt usually do deserve it. The smart use of student loans is to cover what your scholarships or your own money can't at a public university, not completely pay your way to a private art school. I'm student debt free as of last year though, so I don't have to worry about that anymore.
You guys don't know jack-shit about student loans. Trust me, I made a lot of money on them for about 12 years.
All the federal subsidies are wrapped around a separate system of state and private subsidies, and serviced by an industry of aggressive private collection companies who compete for contracts with the various underwriters.
The money being made is obscene. Every time one of you "rehabilitates" your loan, an entirely new loan is written. By that time the Feds have already paid your loan off to the original private underwriter - with TAX MONEY.
When the new loan comes into existence, fees and interest are added to the original primary, and now a loan that started out as $30,000 has just become a loan for $42,000. Or whatever, depends on how long it's been in default. Default again and find yourself with a $50,000 loan, and so on and so on.
Meanwhile everyone's already been paid with taxpayer money, and that money is just gone - an expense.
It's a scam, guys - one of the biggest scams ever perpetrated on the public, and the government is in collusion and on the take at every step.
They'd prefer it if you never paid your loan. Seriously. Then you are a lifelong cash cow.
>>70292694
Yeah I think millennials are screwed in regards to opportunities for debt-repayment. The problem isn't necessarily the students at Uni who take out a $100,000 loan to get a degree in a field that pays good money. The problem is too many womyn taking out loans to get useless degrees; and fratboys or gamerboys who take out loans but they slack off and don't graduate with a degree...
>>70292984
"Smart use" lol
I started Uni at 16. I had an IQ of ~160. The problem wasn't that I was not smart. The problem was that I was naïve and timid and I was surrounded by people that claimed to have my interests in mind but were only thinking of their own.
Student loan people take notice, I will literally blow my own brains out before I give you bastards one red cent.
>>70277433
Tldr of this post.
Give me the Greek treatment.
>>70293121
When the debt man comes for them they will either man up and do hard manual work or learn to live in the street until they man up. Its going to be hilarious to watch.
>>70281334
>kindhearted
>slytherin
lol ok
>>70293138
I didn't say the student loan system isn't predatory as hell, I'm saying it can be used smartly. You shouldn't be letting a 16-18 year old potentially put themselves in debt for the next decade or two though without exhausting every other option. There are scholarships for fucking everything. Pell grants can pay for a healthy portion of tuition, in many cases 1/4 of state school tuition can be covered. Student loans are for covering that last quarter of your tuition, or at the absolute worst, covering full tuition at a state school at in-state prices. Not people using only student loans to go to a nationally-renowned university for 4-5 years only to walk out with $250,000 in debt and a degree in Peruvian post-feminist basketweaving.
>>70293334
Now you're talking. Too bad things won't likely go this way. One can hope.
>>70292694
>mfw the previous generation taught the current generation that irresponsibility, and hedonism, and then is surprised when act that way
>>70293476
It is nothing but a scam. A federally sanctioned scam to destroy the lives of young people.
