Fed Set to Unload Explosive Student Loan Rule That Will Dump Billions on Taxpayers

Discussion in 'Politics, Religion, Social Issues' started by jkcerda, Aug 8, 2016.

  1. jkcerda macrumors 6502a

    jkcerda

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    #1
    http://www.cnsnews.com/commentary/p...tudent-loan-rule-will-dump-billions-taxpayers
    this won't be pretty.
     
  2. chown33 macrumors 604

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    #2
    Nor is the status quo.
     
  3. BoxerGT2.5 macrumors 68000

    BoxerGT2.5

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    #3
    You'll never fix the college student loan issue without fixing how our primary and secondary education system is structured. Right now, anyone can go to college even if they have no business going to college. Everyone is made to believe they should go to college, so as long as the government is backing the loans the tuition can skyrocket with no end in sight.
     
  4. jkcerda thread starter macrumors 6502a

    jkcerda

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    #4
    I agree, higher education should be affordable, that said if you pay 200k getting your SJW degree and end up as a barista at starbucks then that is on you.
     
  5. daflake macrumors 6502a

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    #5
    College does not mean you are guaranteed a job. I have met many who feel that it actually does and are confused why they can't find work. It baffles me...
     
  6. jkcerda thread starter macrumors 6502a

    jkcerda

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    #6
    exactly what I told my daughter, still many CO's seemingly want someone with a degree vs non degree & experience, depending on the field.
     
  7. FieldingMellish Suspended

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    #7
    Such BS, because they borrowed the dough, they should remain on the hook to pay it back. This is similar to allowing people to buy homes they can't afford.
     
  8. DrewDaHilp1 macrumors 6502a

    DrewDaHilp1

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    #8
    It's probably because they are told for 13 years of their young life that they have to go to college by the people that are in a position to teach them. Yes the students are at fault for getting SJW degrees, but those that told them a college degree is a must are also at least partly to blame.
     
  9. BoxerGT2.5 macrumors 68000

    BoxerGT2.5

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    #9
    Your degree gets your resume in the pile. Hard work and a willingness to kill yourself the first 2 years or so for peanuts is what proves to them you really want it. I've conducted my fair share of interviews and you'd be surprised how many think they should be making what a 10yr vet in the field makes. I don't know if their guidance counselor was a meth head who told them whatever they wanted to get them out of their office or what but some of these kids are delusional.
     
  10. jkcerda thread starter macrumors 6502a

    jkcerda

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    #10
    many don't know any better and are misled by "Recruiters" , my niece for example fell for it
    http://www.latimes.com/business/la-fi-marinello-closing-20160205-story.html
    they are NOT the only ones offering federal student aid & scamming people
    https://studentaid.ed.gov/sa/sites/default/files/dont-get-scammed.pdf


    you also have people looking to scam
    http://www.huffingtonpost.com/robert-siciliano/student-financial-aid-fra_b_4713385.html
    --- Post Merged, Aug 8, 2016 ---
    many are delusional because they see the field paying up to 125k and since they got an "A" in the class of course they should get that 125k :p

    I recall school for "security guard" that cost 20k back in 1988 :eek: yes it's 20k but but but YOU could be a high end security guard working for important people or movie stars blah blah blah.
     
  11. obeygiant macrumors 68040

    obeygiant

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    #11
    I only want to refinance my $50,000 grad school loan to something other than 8%. Preferably lower. :)
     
  12. BoxerGT2.5 macrumors 68000

    BoxerGT2.5

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    #12
    You have to consider the earning potential if you get on security detail with George Michael or any of the metal bands. 20K may be worth it if for the amount of tail you might get working for Whitesnake.
     
  13. DrewDaHilp1 macrumors 6502a

    DrewDaHilp1

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    #13
    I imagine most of those gigs are being taken by retired/disabled cops.
     
  14. BoxerGT2.5 macrumors 68000

    BoxerGT2.5

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    #14
    Good god, when I had Federal Student Loans my interest rate was 2%.
     
  15. DrewDaHilp1 macrumors 6502a

    DrewDaHilp1

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    #15
    Question if you are comfortable answering. What did you go to grad school for?
     
  16. BoxerGT2.5 macrumors 68000

    BoxerGT2.5

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    #16
    Or anyone who looks like Michael Clark Duncan.
     
  17. hulugu macrumors 68000

    hulugu

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    #17
    Many of the state universities and colleges have admissions requirements, so not everyone can go to school. You still need decent grades and scores on the ACT/SAT.

    However, many of the for-profit schools will accept anyone and many schools promise the world while delivering nothing but a huge student loan bill.

    That's why this requirement was floated. I think the language needs to be adjusted, but if a school promises a job in health care or technology, most students should be able to garner such a position upon graduation. The school might have to actively work on recruitment to make that happen, and that's their problem.

    People need to think about the future of their degree and how they can leverage their college experience to find a future job. However, when a large number of students are guided to you get gluts of graduates. Several years ago, there was a glut of law students. Then a glut of computer science graduates. More recently, there was a glut of business students. I'd expect to see a glut of STEM graduates in the coming years.

    Students need to aim for the puck, but they also need to learn more than job acquisition skills.

    Well, some programs will present themselves as a jobs funnel, so I can see how some students come out without a job and wonder what happened.
     
  18. Robisan macrumors 6502

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    #18
    Hot Take: Everyone who completes a Bachelor's degree should have up to $100,000 of the college loans forgiven/paid by the federal government AND the government makes money!


    [​IMG]
    (source)

    On average, the NPV of lifetime earnings for a Bachelor's over a High School diploma is ~$550,000. Taxed at a marginal rate of 25% the government will make ~$140,000. Even forgiving $100K the government comes out ahead.

    Note - this does not count ancillary GDP benefits from the educated population, such as scientific discovery, business creation/innovation, job creation etc., all of which lead to more tax revenue.
     
  19. DrewDaHilp1 macrumors 6502a

    DrewDaHilp1

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    #19
    Imagine the average lifetime earnings if wasteful Bachelor degrees were not included.
     
  20. jkcerda thread starter macrumors 6502a

    jkcerda

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    #20
    that was the hook, hard to make those gigs in the first place when you simply don't have the "looks" those starts are looking for :(
     
  21. DrewDaHilp1 macrumors 6502a

    DrewDaHilp1

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    #21
    You might not have the looks but you could have the skill of being able to breath through your ears. That and you are the gate keeper to the talent, and they gotta pay the toll.
     
  22. BoxerGT2.5 macrumors 68000

    BoxerGT2.5

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    #22
    Except when they go to community college for a year or two and then get butt raped by UC Berkley.
     
  23. thermodynamic Suspended

    thermodynamic

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    #23
    It's a shame these schools have been overcharging and underperforming (grade inflation, diluted class quality, with companies then demanding a 4-year degree for even menial jobs to help compensate...) But privacy is encouraged so students can't record instructors outright saying how they're lax on grades, along with other means to acquire proof of being ****ed over.

    But, yeah, **** the students and praise the real grifters. That's the American way now??
    --- Post Merged, Aug 8, 2016 ---
    ^^THIS
     
  24. ibookg409 Suspended

    ibookg409

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    #24
    Agreed. I think colleges also need to trim down the curriculum to just the things that matter.
     
  25. thewap macrumors demi-god

    thewap

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    #25
    Closing down safe spaces might be a start..
     

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