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Thread: Recovery In Action: Nearly $300 Billion Student Debt In Default

  1. #11
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    I personally think that there is a case to be made against the government for fraud on this issue. From the time that students enter kindergarten, they are told that they have to go to college. They are told that student loans are a tool and are 'good debt.'

    After having a captive audience that has been brainwashed for 13 year, does anyone wonder why so many students take out student loans to go to college?

  2. #12
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    The reality.


  3. #13
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    Quote Originally Posted by naturallysweet View Post
    I personally think that there is a case to be made against the government for fraud on this issue. From the time that students enter kindergarten, they are told that they have to go to college. They are told that student loans are a tool and are 'good debt.'

    After having a captive audience that has been brainwashed for 13 year, does anyone wonder why so many students take out student loans to go to college?

    Up until 2010 the banks had a major hand in this scam, Citibank being one of the biggest lenders.
    • “I am not afraid, because I was born to do this."

      Joan of Arc
    Mark 8:38 - Whosoever therefore shall be ashamed of me and of my words in this adulterous and sinful generation; of him also shall the Son of man be ashamed, when he cometh in the glory of his Father with the holy angels.

  4. #14
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    The college loan scam is at least in part a make-work program for professors and other overeducated types with no real world experience or skills.

  5. #15
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    Quote Originally Posted by kadosh View Post
    I sure would have rather used US tax payer money to pay off these outstanding loans than paying off the "too big to fail" corporate fat cats and banksters. I also support discontinuing all government education assistance programs and all federal education agencies. The federal government NEVER belonged in the education game.

    I certainly do NOT approve of the bankster bailouts.


    But to forgive students of their loan debt is a huge SLAP IN THE FACE to all those PRUDENT young people who worked two jobs to pay for their education.

    It is a huge SLAP IN THE FACE for all those students who lived in poverty while they went to school, rather than live high off the hog on borrowed money.


    But worse than that:


    Do you know how many people do not go to college at all, for no other reason than they can not afford college, and are too wise to borrow megabucks to do so?


    Now how fair is it that the kids who go to work right after high school -- whose job prospects and future income are very limited because they could not afford to go to school -- are forced to pay off the loans of spoiled students who lived the high life on borrowed money, and will now get the good paying jobs because of that degree?


    Why reward these spoiled kids greed and gluttony at the expense of the many who did NOT borrow mega-bucks to get a degree in underwater basketweaving?

  6. #16
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    Quote Originally Posted by Barry Natchitoches View Post
    I certainly do NOT approve of the bankster bailouts.


    But to forgive students of their loan debt is a huge SLAP IN THE FACE to all those PRUDENT young people who worked two jobs to pay for their education.

    It is a huge SLAP IN THE FACE for all those students who lived in poverty while they went to school, rather than live high off the hog on borrowed money.


    But worse than that:


    Do you know how many people do not go to college at all, for no other reason than they can not afford college, and are too wise to borrow megabucks to do so?


    Now how fair is it that the kids who go to work right after high school -- whose job prospects and future income are very limited because they could not afford to go to school -- are forced to pay off the loans of spoiled students who lived the high life on borrowed money, and will now get the good paying jobs because of that degree?


    Why reward these spoiled kids greed and gluttony at the expense of the many who did NOT borrow mega-bucks to get a degree in underwater basketweaving?
    Go back and re-read my post. I said "rather", inferring that if it were my choice who would benefit from government theft, that it would be a kid who was pushed into taking a loan instead of a greedy corporate bankster type whose plan it was to steal our money all along. OBVIOUSLY, my first preference is to let ME keep MY money and not have it forcibly re-appropriated to anyone against my will.

  7. #17
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    Quote Originally Posted by Barry Natchitoches View Post
    I certainly do NOT approve of the bankster bailouts.


    But to forgive students of their loan debt is a huge SLAP IN THE FACE to all those PRUDENT young people who worked two jobs to pay for their education.

    It is a huge SLAP IN THE FACE for all those students who lived in poverty while they went to school, rather than live high off the hog on borrowed money.


    But worse than that:


    Do you know how many people do not go to college at all, for no other reason than they can not afford college, and are too wise to borrow megabucks to do so?


    Now how fair is it that the kids who go to work right after high school -- whose job prospects and future income are very limited because they could not afford to go to school -- are forced to pay off the loans of spoiled students who lived the high life on borrowed money, and will now get the good paying jobs because of that degree?


    Why reward these spoiled kids greed and gluttony at the expense of the many who did NOT borrow mega-bucks to get a degree in underwater basketweaving?

    I didn't live high off the hog when I took out my student loans, I know some did though. I always lived in university housing which wasn't cheap, in fact later on I found out it was less expensive to live off campus than it was to live on campus. I know the last ten or so years things changed and kids were buying cars with the money, etc. I wasn't able to afford to do so.

    So please don't accuse ALL student loan borrowers as being spoiled. Many of us borrowed the money in good faith believing that there WOULD BE jobs when we graduated... only to find out that chemistry jobs, that the schools promised would be there for Women in the Sciences, were being exported to India and Africa and to China after the fact.

    I'm paying off my loans, I'm not looking for a bailout, but I really would love for that 100K in interest that was slapped onto my original loan amount to be dropped!!!
    • “I am not afraid, because I was born to do this."

      Joan of Arc
    Mark 8:38 - Whosoever therefore shall be ashamed of me and of my words in this adulterous and sinful generation; of him also shall the Son of man be ashamed, when he cometh in the glory of his Father with the holy angels.

  8. #18
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    Quote Originally Posted by packyderms_wife View Post
    I didn't live high off the hog when I took out my student loans, I know some did though. I always lived in university housing which wasn't cheap, in fact later on I found out it was less expensive to live off campus than it was to live on campus. I know the last ten or so years things changed and kids were buying cars with the money, etc. I wasn't able to afford to do so.

    So please don't accuse ALL student loan borrowers as being spoiled. Many of us borrowed the money in good faith believing that there WOULD BE jobs when we graduated... only to find out that chemistry jobs, that the schools promised would be there for Women in the Sciences, were being exported to India and Africa and to China after the fact.

    I'm paying off my loans, I'm not looking for a bailout, but I really would love for that 100K in interest that was slapped onto my original loan amount to be dropped!!!
    Actually, that makes a LOT of sense to me. Not loan forgiveness, but under the economic circumstances I would support a penalty and interest discharge. Then they'd have a chance of paying off the principle in their lifetimes.

  9. #19
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    We have had some experience with the universities here in NZ (Mrs. Dirtpig67 is completing a degree as we speak at one of the bigger schools in the country) and have had some interesting observations on how things are being done here.

    First off, a bachelors degree is much cheaper around $17-24k NZD depending on subject (that is a total for the entire degree - not one year). It will costs us about $20k NZD in total (books, fees, tuition, everything) for her degree.

    It is a first rate education, but there are no sports teams or anything really not related to education going on at the universities. I would describe them as very lean, very focused, and very intense. Many degrees are only 3 years as they essentially skip the general education year you see most US universities teach their students in their first year. Day one on first year, all of your classes are about the subject you are studying as I guess they expect you to know all of the basic education stuff when you walk through the door.

    Loans are readily available to anyone who asks for one and are provided by the government so this is essentially the same as the US. The big difference is that there is no interest on the loan. You only pay back the amount you get loaned. I think the only time they start charging interest is if you decide to work overseas.

    The payback period is tied to your earnings and you don't start paying back until you earn above a certain threshold (I think it is around $40-50k, but not sure) as to not hurt those that cannot immediately find a higher paying job after graduation. The loan payments are then deducted from your paycheck just like taxes are until it is paid off.
    Last edited by dirtpig67; 03-26-2012 at 01:17 PM.

  10. #20
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    moestooge
    The college loan scam is at least in part a make-work program for professors and other overeducated types with no real world experience or skills.

    Ironically, yes. They are skilled, but I do not believe it is the type of skills your are alluding to.

    This is how this subtle game has been played for decades - The curriculum dictated for 40 years has been dumbed down to a fraction of what an education used to be.

    The "agents" of the dumbed down - the de-educators - largely do not understand their part in the scheme, mainly because they believe the praise (ala Nazi Germany) , and enjoy what their prisoners and their slave parents can only dream of and envy - the job security, the fabulous benefits, the wonderful pay, the wealthy retirement.

    Conversely, each generation, each class of graduates is largely less educated, more ignorant than the previous.

    And the cow-sheep used and abused herd pays for the disenfranchisement - now the cow-sheep are expected to toil and labor their entire lives for the meager college education that largely affords no job opportunity, for an education they should have gotten in high school, paid for by school taxes.

    Then there is the fake colleges that are now accredited, now eligible to join the student loan enslavement scheme, because some of our benevolent rulers like to help their friends in high places rip off the de-educated cow-sheep, many of them wandering aimlessly, looking for work they can not find.

    Have to admit this is brilliant. Mission Accomplished.

    This post -blog is interesting, discusses the sick and perverted curriculum:

    Link - Fair Use: http://www.activistpost.com/2012/03/...dangerous.html
    Sunday, March 25, 2012

    Schools Just Became Even More Dangerous -- Attack Dogs Waiting For Dissenters


    Activist Post

    HOUSTON USING STARVATION TO PUT AN END TO GROWING HOMELESS PROBLEM

    January 23 2011


    Link: http://scrapetv.com/News/News%20Page...your-side.html
    Last edited by moonarch; 03-26-2012 at 01:47 PM.

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