Nearly 5M Americans in Default on Student Loans

Post by Stanish » Thu, Dec 14, 2017, 5:52 AM UTC

bradleyjg wrote: post #12

ggm wrote: post #7

Although by inclination what I want to do is rant about the iniquity of this kind of robo-debt in education, instead what I am thinking right now, is this: how does this compare overall to the rate of default in debt for other purposes? how does it compare to car loan debt? mortgage debt? I ask, because debt is the same, except in as much as student debt is in principle seeking a path to be able to repay it. The asse…

The overwhelming majority of student loan debt is government backed and eligible for some kind of income based repayment plan. There are four different kinds, but the most common two use a formula of 10% of income after 150% of the poverty level for the relevant household size. It is entirely possible to have a required payment of $0, before even getting into forbearance or deferral. Car loans and mortgage loans are…

Post by Stanish » Thu, Dec 14, 2017, 5:56 AM UTC

superquest wrote: post #52

Top19 wrote: post #35

Earlier quoted context omitted.

Do you hate the liberal arts? Their importance in college was really emphasized after World War II, as many of the leading Nazis were seen as non-intellectuals without moral restraints developed by the study of history, philosophy, theology, etc. Liberal Arts should be cheap you’re right, but it also should be required.

A big problem with liberal arts currently is it is burgeoning with new fields of study that are truly political movements masquerading as scholarship -- where liberal arts should only be motivated by the search for truth. So in a sense, the liberal arts aren't the liberal arts anymore.

Post by dmh2000 » Thu, Dec 14, 2017, 5:59 AM UTC

ikeyany wrote: post #62

This did not happen by chance. The answer isn't hard to arrive at--simply ask why college is so expensive compared to the 1990s, and why states cannot afford to offset these costs anymore. America is selling out its future by convincing young people that they should go into debt to pay for "the college experience". But why does "the college experience" need to include superfluous staff and wasteful resources? Follow…

Post by vkou » Thu, Dec 14, 2017, 6:09 AM UTC

akkat wrote: post #45

wildmusings wrote: post #36

Tuition, especially at private colleges, is totally out of control. But class sizes are up, not down. And the number of full professors is not growing. So where is the money going? To an explosive growth of administrative staff. My alma mater has almost one employee per student . There are many dozens of administrative departments, each with multiple deans and assistant deans and staff, and sometimes subdivisions eac…

What's the reason for that. I know administrative staff like that that are getting paid, but what would the current one decide to hire more staff? Unless there was some benefit the staff would prefer to keep the money for themselves rather than hire more people.

Post by ggm » Thu, Dec 14, 2017, 6:10 AM UTC

fancyfacebook wrote: post #22

ggm wrote: post #20

Earlier quoted context omitted.

good point. some debts follow you around for life. And after: my dad always said tax was a gamble, and he decided to ignore the final-demand letters which we found in his office after he died. In one sense, he "won" the bet. In another, viewing him as the tuple {himself, his estate} he didn't...

Tax isn't a self serving sociopathic "gamble" it's what allows you to go to school and drive on roads and use the internet. Don't dodge it as part of some insane game you were taught.