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And president Obama want to EXPAND our student loan program!
"Last year the government paid $1.4 billion to collect defaulted loans of which $355 million went to 23 private debt collectors. Student debt collection is now the most sought-after contract within the industry.
No wonder. Student loan collectors have the ability to garnish wages, seize tax refunds, and seize other government payments. Those in the debt slave racket are of course willing to do anything to keep the business alive. Obama wants to expand the program. Of course, so do all the universities and anyone associated with the slave trade.
The schools and slave trade collection agencies are big contributors to politicians willing to accept campaign bribes to keep the student "aid" programs intact."
As student debt continues to surge, our current generation of students will be debt strapped for decades to come. Thus the future of our real estate industry look bleek. Recently graduated students are already admitting to putting of marriage, having children and buying homes....
Very sad....
__________________ "No one walking this earth knows what is truly righteous"
Last edited by PatriotsReign; 09-11-2012 at 06:45 AM..
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This is interesting as many of these colleges are private, and their presidents can demand salaries of over a million dollars.. all the while the taxpayers foot the bill to the tune of 32 billion a year..
Ex military are particularly vulnerable.. lots of promise, little delivery, college makes some bucks and lots of debt incurred.
Did you ever notice all the very nice buildings that these private colleges are moving into, you paid for it..
There is a good article here, that refers to the recent GAO study..
hey....if someone borrows 50K per year to take anthropology, then what do you expect?
I would not lend anyone money to take anthropology because the chances of ever seeing the money again are negatively affected.......they're not going to earn enough at starbucks to pay you back.
__________________ “ I think good coaches will coach with the personnel they have, and if you only have one (good) linebacker, you’re not going to play a 3–4. ”
—Hank Bullough, who installed one of the first 3–4 defenses with the New England Patriots.
The biggest fraud is Chief Warren. Seriously, here's a woman who rails against a rigged system, wall st, student loans, etc. yet she's a primary example of why a college education puts kids deep into six figure debt before they even have a job. To be paid $360k to teach a class is borderline criminal.
One of the biggest problems with skyrocketing tuition costs, and student loan debt, is subsidation, as well as cheap, free, easy money by way of credit. When you give kids tens to hundreds of thousands in student loans, you flood the education market will cash. That artificial infusion of capital creates an inflated market where costs soar. Were money harder to come by, the costs, or spending at these schools would be significantly less. You can't pay a professor $365k to teach one class, if you're taking in lower tuition. The entire system needs to implode. The government needs to curb loans, and the education industry needs to come down to financial earth.
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"The most difficult subjects can be explained to the most slow-witted man if he has not formed any idea of them already; but the simplest thing cannot be made clear to the most intelligent man if he is firmly persuaded that he knows already, without a shadow of doubt, what is laid before him." Leo Tolstoy, 1897
Last edited by Real World; 09-11-2012 at 10:52 AM..
The biggest fraud is Chief Warren. Seriously, here's a woman who rails against a rigged system, wall st, student loans, etc. yet she's a primary example of why a college educations puts kids deep into six figure debt before they even have a job. To be paid $360k to teach a class is borderline criminal.
One of the biggest problems with skyrocketing tuition costs, and student loan debt, is subsidation, as well as cheap, free, easy money by way of credit. When you give kids tens to hundreds of thousands in student loans, you flood the education market will cash. That artificial infusion of capital creates an inflated market where costs soar. Were money harder to come by, the costs, or spending at these schools would be significantly less. You can't pay a professor $365k to teach one class, if you're taking in lower tuition. The entire system needs to implode. The government needs to curb loans, and the education industry needs to come down to financial earth.
I posted a link here regarding the "Student Loan" bubble months ago - a piece written by Mark Cuban. If I remember correctly, I was laughed out of the thread.
I posted a link here regarding the "Student Loan" bubble months ago - a piece written by Mark Cuban. If I remember correctly, I was laughed out of the thread.
I know I would not laughed about this topic....so which members laughed?
Gotta link?
I think RW summed it all up nicely....student loans for everyone & anyone must go! Or at the very least, they need to be capped somewhere around $20k annually.
Maybe some here believe professors are some of our most important citizens too. What a joke!
__________________ "No one walking this earth knows what is truly righteous"
I know I would not laughed about this topic....so which members laughed?
Gotta link?
I think RW summed it all up nicely....student loans for everyone & anyone must go! Or at the very least, they need to be capped somewhere around $20k annually.
Maybe some here believe professors are some of our most important citizens too. What a joke!
I actually thought it was you and PFnVA - although I admit Im digging the deep crevasses of my brain.
Basically whoever it was kept going back to "ya....but that isnt a bubble"
I actually thought it was you and PFnVA - although I admit Im digging the deep crevasses of my brain.
Basically whoever it was kept going back to "ya....but that isnt a bubble"
Now I know it wasn't me Drewski. One of my favorite economic websites is "Mish's Global Economic Trend Analysis"....which one of the most popular economic blogs in the US.
Now I know it wasn't me Drewski. One of my favorite economic websites is "Mish's Global Economic Trend Analysis"....which one of the most popular economic blogs in the US.
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Student Loans and The Debt Slave Trade
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