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Thread: Why Americans are increasingly dubious about going to college

  1. #11
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    testsubjectalpha's Avatar Senior Member
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    Except student loans are now underwritten by the US Gov't. In other words, it's the taxpayer on the hook for the default. That's why student loans are not forgiven in bankruptcy proceedings. However, other debts are erased which are the source of a $#@!ty credit score and higher borrowing costs into the future for deadbeats. Which is the way it should be.

    No student borrower, who borrowed of their own free will and promised to repay, should be relieved of their obligation to pay back to society what they took from society.



    Quote Originally Posted by Peter1469 View Post
    It also favors people who are generally not poor.

    I do agree student loans should be dischargeable in bankruptcy. That would go a long way to getting worthless degrees out of university.
    "The Constitution is not an instrument for the government to restrain the people, it is an instrument for the people to restrain the government - lest it come to dominate our lives and interests." - Patrick Henry

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    Quote Originally Posted by testsubjectalpha View Post
    Except student loans are now underwritten by the US Gov't. In other words, it's the taxpayer on the hook for the default. That's why student loans are not forgiven in bankruptcy proceedings. However, other debts are erased which are the source of a $#@!ty credit score and higher borrowing costs into the future for deadbeats. Which is the way it should be.

    No student borrower, who borrowed of their own free will and promised to repay, should be relieved of their obligation to pay back to society what they took from society.
    That is not why you cannot bankrupt them. The bankruptcy laws were changed in the late 80s because people were graduating from school and running right to bankruptcy court.
    Any time you give a man something he doesn't earn, you cheapen him. Our kids earn what they get, and that includes respect. -- Woody Hayes​

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    Peter1469 (08-12-2022)

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    I'm stuck on this idea of ... from each according to their ability ... These are young working class people in the prime of their economic usefulness... and they can't pay?

    ​BULL$#@!




    Quote Originally Posted by DGUtley View Post
    That is not why you cannot bankrupt them. The bankruptcy laws were changed in the late 80s because people were graduating from school and running right to bankruptcy court.
    "The Constitution is not an instrument for the government to restrain the people, it is an instrument for the people to restrain the government - lest it come to dominate our lives and interests." - Patrick Henry

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    Quote Originally Posted by testsubjectalpha View Post
    Except student loans are now underwritten by the US Gov't. In other words, it's the taxpayer on the hook for the default. That's why student loans are not forgiven in bankruptcy proceedings. However, other debts are erased which are the source of a $#@!ty credit score and higher borrowing costs into the future for deadbeats. Which is the way it should be.

    No student borrower, who borrowed of their own free will and promised to repay, should be relieved of their obligation to pay back to society what they took from society.
    Get the federal government out of student loans. Make student loans dischargeable in bankruptcy. Banks will not give an unsecured loan for school for a (1) dummy, or (b) someone who wants to major in underwater basket weaving.
    ΜOΛΩΝ ΛΑΒΕ


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    These universities have huge endowments. They can fund their own loans. Make them have a little skin in the game...



    Quote Originally Posted by Peter1469 View Post
    Get the federal government out of student loans. Make student loans dischargeable in bankruptcy. Banks will not give an unsecured loan for school for a (1) dummy, or (b) someone who wants to major in underwater basket weaving.
    "The Constitution is not an instrument for the government to restrain the people, it is an instrument for the people to restrain the government - lest it come to dominate our lives and interests." - Patrick Henry

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    Peter1469 (08-12-2022)

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    Everybody should understand, at the end of the day all the student loan money became the property of the universities and colleges accepting FISL loan proceeds or something like that.
    "The Constitution is not an instrument for the government to restrain the people, it is an instrument for the people to restrain the government - lest it come to dominate our lives and interests." - Patrick Henry

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    Quote Originally Posted by testsubjectalpha View Post
    These universities have huge endowments. They can fund their own loans. Make them have a little skin in the game...

    Typically, endowment money is restricted by the donor as to what can be done with it.
    Any time you give a man something he doesn't earn, you cheapen him. Our kids earn what they get, and that includes respect. -- Woody Hayes​

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    That too I suppose. They got a lot of damn money don't they... They got every penny of every loan $1 paid to the university/college registrar.




    Quote Originally Posted by DGUtley View Post
    Typically, endowment money is restricted by the donor as to what can be done with it.
    "The Constitution is not an instrument for the government to restrain the people, it is an instrument for the people to restrain the government - lest it come to dominate our lives and interests." - Patrick Henry

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    Some universities do, many don't. And the ones that have large endowments are largely attended by the children of the wealthy. And they already offer scholarships and grants to their token students to meet various PC quotas.
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    Why Americans are increasingly dubious about going to college


    Dubious dont pay the bills..............

    [COLOR=rgba(0, 0, 0, 0.95)]Typical young workers with college degrees now outearn their high-school-graduate counterparts by a record-high $22,000 per year.[/COLOR][COLOR=rgba(0, 0, 0, 0.95)]According to new data from the Federal Reserve Bank of New York, the median annual wage for a full-time worker ages 22 to 27 with a high school diploma is $30,000. For a full-time worker with a bachelor's degree, it's $52,000.[/COLOR]

    https://money.com/wage-gap-college-h...d %24111%2C000.

    Or you could do the way this guy did...........
    Last edited by stephenpe; 08-12-2022 at 05:06 AM.

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