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U.S. Stepping Up Enforcement on Delinquent Student Loans

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Re: U.S. Stepping Up Enforcement on Delinquent Student Loans

#61

Post by refurb »

throwawayjava wrote: post #40
rayiner wrote: post #33

I’m convinced you can’t fix the education problem in the US until you can fix the demand side as well. Where I live in Maryland, you can do two years at the local community college (which is excellent) for $8,000 in tuition and fees (total), before finishing up at a four year-college. Very few people take advantage of the opportunity. Why are people clamoring for free college when they’re not using the cheaper option…

> Where I live in Maryland, you can do two years at the local community college (which is excellent) for $8,000 in tuition and fees, before finishing up at a four year-college. This is true for the majority of students, but not generally true for the top ~1-10% of students who often need all 4 years to compete for slots at top law schools, med schools, phd programs, and employers. And getting into the top 4-5 of any…

Not sure doing the first two at community college impacts post-graduate admissions much?

If an applicant begins his or her undergraduate education at a community college, excels academically, transfers to a four-year institution, and continues an upward trend by maintaining an excellent GPA, scoring well on the MCAT, and demonstrating a proclivity toward patient care and research, their educational path can be seen as an asset.

Re: U.S. Stepping Up Enforcement on Delinquent Student Loans

#62

Post by shmerl »

jtbayly wrote: post #54
shmerl wrote: post #9

Instead of collecting debts, they should figure out how to make education free.

Is this meant to be sarcastic? I suppose it would be possible if you enslaved those with PHDs and unpaid debt, forcing them to teach at universities administrated by those enslaved for their debt, built by those enslaved for their debt. Pharaoh had a lot of things for “free,” as did the plantation owners in the US, but the cost of free is pretty much the opposite of free for those who end up doing the paying. And the…

I'm serious. Society can figure out how to make education free, and not put students in crazy debt for years. If you don't advocate it, you basically advocate debt profiteering.

Re: U.S. Stepping Up Enforcement on Delinquent Student Loans

#63

Post by xfitm3 »

Thorrez wrote: post #16
WrtCdEvrydy wrote: post #12

Earlier quoted context omitted.

Because a few people got fancy degrees and discharged their loans. I'd totally support discharging your loans and having your degree placed into some sort of ADMINISTRATIVE HOLD so it has no value until the loans are being paid back. You can easily pick up the payments once you're fully employed.

I don't understand how that would work. I can see 2 values in a degree: 1 the ability to put the degree on your resume, 2 the knowledge and enjoyment you got from the degree. I don't see how it's possible to remove 2. I guess you could remove 1 by making it illegal to put on your resume, but then how would you become "fully employed" when you can't put the degree on your resume?

College educations don't really impart substantial knowledge. It's the ability to put it on your resume that counts.

Re: U.S. Stepping Up Enforcement on Delinquent Student Loans

#64

Post by mikeash »

SilasX wrote: post #32
nordsieck wrote: post #24

Earlier quoted context omitted.

> Education has yourself as return. That is not something a lender can repossess.

Not as they currently do it, no, but I imagine (at least with future loans), it could have the penalty that the university would not issue your transcript or vouch for your degree when the loan became delinquent enough. That would be similar in spirit repossession (except that the bank couldn't sell it). But of course, they wouldn't get to take back any of that valuable knowledge and human capital you acquired there…

The whole point of repossession is that he bank can sell it to recover at least some of their loss. Without that, it’s just destructive punishment. You’d be making society poorer by restricting this person’s job prospects, with no gain anywhere to offset it.

Re: U.S. Stepping Up Enforcement on Delinquent Student Loans

#65

Post by mikeash »

WrtCdEvrydy wrote: post #12
nimbius wrote: post #10

Disclosure: I work as a blue-collar engine mechanic. Ive never been to college. That having been said, im familiar with debt after the 2008 housing collapse. I lost my truck and my trailer home, partly because of a shady home loan and partly because well, my employer went out of business. That having been said it was relatively easy to discharge these debts. the bank wasnt too upset about the home and offered to help…

Because a few people got fancy degrees and discharged their loans. I'd totally support discharging your loans and having your degree placed into some sort of ADMINISTRATIVE HOLD so it has no value until the loans are being paid back. You can easily pick up the payments once you're fully employed.

Sure, let’s block a valuable worker from contributing to society because they didn’t pay their loans. This is vindictive thinking with no gain to anyone.

Re: U.S. Stepping Up Enforcement on Delinquent Student Loans

#66

Post by mikeash »

jtbayly wrote: post #54
shmerl wrote: post #9

Instead of collecting debts, they should figure out how to make education free.

Is this meant to be sarcastic? I suppose it would be possible if you enslaved those with PHDs and unpaid debt, forcing them to teach at universities administrated by those enslaved for their debt, built by those enslaved for their debt. Pharaoh had a lot of things for “free,” as did the plantation owners in the US, but the cost of free is pretty much the opposite of free for those who end up doing the paying. And the…

We already do this for K-12 and nobody had to be enslaved.

Re: U.S. Stepping Up Enforcement on Delinquent Student Loans

#67

Post by Thorrez »

xfitm3 wrote: post #63
Thorrez wrote: post #16

Earlier quoted context omitted.

I don't understand how that would work. I can see 2 values in a degree: 1 the ability to put the degree on your resume, 2 the knowledge and enjoyment you got from the degree. I don't see how it's possible to remove 2. I guess you could remove 1 by making it illegal to put on your resume, but then how would you become "fully employed" when you can't put the degree on your resume?

College educations don't really impart substantial knowledge. It's the ability to put it on your resume that counts.

I got substantial knowledge from my degree.

But regardless of whether you got any knowledge from your degree, you could still get enjoyment from your degree. And even if you didn't get any knowledge or enjoyment from your degree, if you remove the ability to put it on your resume, how is someone supposed to become "fully employed"?

Re: U.S. Stepping Up Enforcement on Delinquent Student Loans

#68

Post by Thorrez »

WrtCdEvrydy wrote: post #28
Thorrez wrote: post #16

Earlier quoted context omitted.

I don't understand how that would work. I can see 2 values in a degree: 1 the ability to put the degree on your resume, 2 the knowledge and enjoyment you got from the degree. I don't see how it's possible to remove 2. I guess you could remove 1 by making it illegal to put on your resume, but then how would you become "fully employed" when you can't put the degree on your resume?

It prevents high power careers like lawyers and doctors from 'doing away with their loans' as removing those degrees means you can't practice while making lesser degrees dischargeable. It would also make lenders want to make your succeed (it is their money)

I still don't see how the person will later become "fully employed" when the person isn't allowed to practice.

Re: U.S. Stepping Up Enforcement on Delinquent Student Loans

#69

Post by tptacek »

throwawayjava wrote: post #40
rayiner wrote: post #33

I’m convinced you can’t fix the education problem in the US until you can fix the demand side as well. Where I live in Maryland, you can do two years at the local community college (which is excellent) for $8,000 in tuition and fees (total), before finishing up at a four year-college. Very few people take advantage of the opportunity. Why are people clamoring for free college when they’re not using the cheaper option…

> Where I live in Maryland, you can do two years at the local community college (which is excellent) for $8,000 in tuition and fees, before finishing up at a four year-college. This is true for the majority of students, but not generally true for the top ~1-10% of students who often need all 4 years to compete for slots at top law schools, med schools, phd programs, and employers. And getting into the top 4-5 of any…

That explains why a small elite who likely don't need assistance with loans don't avail themselves of community college, but doesn't say much about the general case.

Re: U.S. Stepping Up Enforcement on Delinquent Student Loans

#70

Post by StanislavPetrov »

rayiner wrote: post #33

I’m convinced you can’t fix the education problem in the US until you can fix the demand side as well. Where I live in Maryland, you can do two years at the local community college (which is excellent) for $8,000 in tuition and fees (total), before finishing up at a four year-college. Very few people take advantage of the opportunity. Why are people clamoring for free college when they’re not using the cheaper option…

Not all community colleges are excellent. The local community college here is referred to as "the 13th grade". Its cheap but not very good at all.
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