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Public student loans suspended in several states as the credit crunch worsens

Discussion in 'Political Discussion' started by weswelker#83, Apr 7, 2008.

  1. weswelker#83

    weswelker#83 Rookie

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  2. FreeTedWilliams

    FreeTedWilliams pfadmins PatsFans.com Supporter

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    #75 Jersey

    Once again you posted a complete lie in your thread title. Bond markets which trade in student loans (haven't you ever gotten a notice from your bank that your loan was sold to another instution?) are down. Some banks that have given student loans in the past are not. A Federal Student loan, IS GUARENTEED BY THE US GOVERNMENT, and as such is an excellent investment for any fianancial institution.

    So, yes, you may have to go to another bank or institution to get your loan, because "Ed's Bank" gave out waay to many 110% equity loans on over vauled properties. It called Capitalism, maybe you should try it sometime.

    Please list any state in which a qualified student can not get a student loan?
  3. weswelker#83

    weswelker#83 Rookie

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    With all respect , i believe that you have problems with yourself , at reading and understanding things.


    /Relax , take a deep breath my friend.
    Last edited: Apr 7, 2008
  4. FreeTedWilliams

    FreeTedWilliams pfadmins PatsFans.com Supporter

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    #75 Jersey

    PUBLIC AUTHORITIES, or in other words, some Banks, the Federal student loan are available to everyone, in any state.

    The Banks, make the loans and then they sell them, the markets are not buying to loans, so some banks are not making them. Once again, in what state can you not get a student loan?

    Here a hint on the answer: NONE.
  5. Real World

    Real World Moderator Staff Member

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    Organization of, being the key phrase Wes. Any loans the fed backs are still in play. For example:

  6. Real World

    Real World Moderator Staff Member

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    Everyone that's upset about housing, should be equally upset with the cost of tuition and student loans in this country. Kids are being saddled with six figure debt that will undoubtedly handicap their futures, while universities pay their coaches millions per year, and their deans and chairmen hundreds of thousands of dollars. Schools have realized that they can charge $40-60k per year for the ability to attain a degree that will earn you $35k when you get out. What's a couple hundred in debt when it's in the name of education? Schools need new arena's, buildings, grounds & practice fields afterall. I think what's going on is a travesty that is no different than subprime loans being given to irresponsible people who can't afford them.
  7. weswelker#83

    weswelker#83 Rookie

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  8. weswelker#83

    weswelker#83 Rookie

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    Big US student loan guarantor files for bankruptcy
    Mon Apr 7, 2008 6:49pm EDT
    NEW YORK, April 7 (Reuters) - The Education Resources Institute Inc, which calls itself the largest not-for-profit guarantor of U.S. private education loans, on Monday filed for Chapter 11 bankruptcy protection, saying rising defaults and credit market problems have damaged liquidity.

    http://www.reuters.com/article/rbssIndustryMaterialsUtilitiesNews/idUSN0729399920080407
  9. Terry Glenn is a cowgirl

    Terry Glenn is a cowgirl Banned

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    All done by design...;)
  10. Terry Glenn is a cowgirl

    Terry Glenn is a cowgirl Banned

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    The once pillar of rock is suddenly crumbling into dust...
  11. weswelker#83

    weswelker#83 Rookie

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    You are Correct , sir .
    Europeans students go to universities and colleges , and when they graduate , they are still broke with zero buck , but it is still better than (their american counterpart) being MINUS 100K OR 200K + interests....
    I don't give a damn about NCAA , or college football , but we should go back to the fundamentals, a kid need to go to college for a decent price .
    Last edited: Apr 8, 2008
  12. BelichickFan

    BelichickFan B.O. = Fugazi PatsFans.com Supporter

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    #24 Jersey

    Only if they choose to. As I went to a Cal State University, I looked up Cal State Long Beach (higher cost of living than where I went).

    Room&Board + Tuition&Fees = $11K per year.

    How is that unaffordable ? It's certainly not adding up to $100K. Throw in a part time job during school and full time (even at minimum wage) in the summer and there's your money.
  13. Real World

    Real World Moderator Staff Member

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    I'm not sure if being at zero with no opportunity to earn is better than being saddled with a mortgage but earning. Niether are very desirable. Look at Oklahoma State. They're offering Bill Self, Kansas Basketball coach, $3.5 million per year salary, plus a $6 million signing bonus to take their job. That's a travesty.

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