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U.S. Student Debt in ‘Serious Delinquency’ Tops $166B

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Re: U.S. Student Debt in ‘Serious Delinquency’ Tops $166B

#21
post #7

i predict we’re going to have to bail these people out. once a critical mass of americans do something idiotic, it becomes politically expedient to bail them out and blame the companies for greed. this is a direct response of the government providing unlimited loans to anyone

cancel the debt, and move towards free colleges.

Now sure why you are downvoted. This is by far the best option.

Re: U.S. Student Debt in ‘Serious Delinquency’ Tops $166B

#22
No creditor would give a loan to someone who doesn't have a chance of paying it back. There are kids going to school for music therapy that are taking $100K in debt. It's time to end government subsidized loans, at least in the current form. The private market does a great job of evaluating risk, the only thing that needs to be done is ensure there is ample competition so it self-regulates.

Re: U.S. Student Debt in ‘Serious Delinquency’ Tops $166B

#24
post #7

i predict we’re going to have to bail these people out. once a critical mass of americans do something idiotic, it becomes politically expedient to bail them out and blame the companies for greed. this is a direct response of the government providing unlimited loans to anyone

cancel the debt, and move towards free colleges.

Not unless the budgets of these schools are brought under control first. A pipeline of seemingly free money is at least partially responsible for creating the current mess. Making it "free" with no restriction on how much will be spent on "free" is going to lead to even more runaway growth in the cost of providing education.

Re: U.S. Student Debt in ‘Serious Delinquency’ Tops $166B

#26

i predict we’re going to have to bail these people out. once a critical mass of americans do something idiotic, it becomes politically expedient to bail them out and blame the companies for greed. this is a direct response of the government providing unlimited loans to anyone

If the system provides easy access to cash backed by the US government without disambiguating loan candidates from those who are high risk vs lower risk, how is greed not a factor?

Re: U.S. Student Debt in ‘Serious Delinquency’ Tops $166B

#27

i predict we’re going to have to bail these people out. once a critical mass of americans do something idiotic, it becomes politically expedient to bail them out and blame the companies for greed. this is a direct response of the government providing unlimited loans to anyone

Too educated to fail. :-)

Re: U.S. Student Debt in ‘Serious Delinquency’ Tops $166B

#30

Education is important. Access to education is important. But our current system of giving out student loans with no regard to if the student will ever have a realistic ability to repay borders on predatory. If we can't do anything to solve that portion of the problem, we should at least restrict the mandatory fees that are tacked on for non instructional purposes. No student should have to pay for decades to prop up…

I can observe a dillution of education systems. It used to be stricter with clear benefits for every party:

Students that got in would go through a dense cursur and be viewed as higher intellect for the work market. With years (at least in France) there was a desire to make everybody get a higher education degree, but often by relaxing barriers of entry. You get more students but less good ones, the market is saturated by mild masters degree, not enough jobs, they trickle down (sic) and cause degree inflation (post office summer positions required 2-3 years diplomas, not rare to see a 5y college student working there).

At the same time what used to be a simple way to absorb people's need for a job is a bit comatose, simpler hands on jobs (which value was seen as less at the era of Master's degree or nothing) were nice to let people find a salary without much hassle.

I remember a tv host saying he went to Paris without anything and got a job by almost knocking at the first door he saw..

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