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In New Jersey Student Loan Program, Even Death May Not Bring a Reprieve

nytimes.com

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Re: In New Jersey Student Loan Program, Even Death May Not Bring a Reprieve

#11

Post by aianus »

sb8244 wrote: post #8
iamleppert wrote: post #6

School is for suckers anymore. Who in their right mind would put themselves through what amounts to institutional training for a life of future labor, middle class if you're lucky, working for a corporation as an at-will employee? You've paid thousands and given up four years of your youth, and for what? To go to work (if you're lucky for many) for a big corporation making a select few wealthier? Meanwhile your salar…

What is your alternative?

Don't have children unless you're rich and/or connected.

Re: In New Jersey Student Loan Program, Even Death May Not Bring a Reprieve

#12

Post by pkaye »

tomp wrote: post #9
pkaye wrote: post #2

"Ms. DeOliveira-Longinetti, who co-signed on the loans, was shocked and confused." Be careful when co-signing any loan.

You mean, "Don't co-sign any loan"? You might as well get a loan yourself, then sub-loan to the person you wanted to co-sign with...

Yup, and the risks are lower without a co-sign because if that person passes away, the other person is not liable.

Re: In New Jersey Student Loan Program, Even Death May Not Bring a Reprieve

#13

Post by darpa_escapee »

sb8244 wrote: post #8
iamleppert wrote: post #6

School is for suckers anymore. Who in their right mind would put themselves through what amounts to institutional training for a life of future labor, middle class if you're lucky, working for a corporation as an at-will employee? You've paid thousands and given up four years of your youth, and for what? To go to work (if you're lucky for many) for a big corporation making a select few wealthier? Meanwhile your salar…

What is your alternative?

Go work for/found a start up, of course!

> To go to work (if you're lucky for man) to make a select few wealthier? Meanwhile your salary is barely enough to make only but marginal dents in the debt you now owe.

>You struggle to find meaning in your life, as you battle politics, desperately try to stay relevant in an environment of anxiety and fear; your peers are just as worried as you.

Oh wait. But I guess you don't have to worry as a founder, your safety net will catch you if you fail unlike the rest of us :)

Re: In New Jersey Student Loan Program, Even Death May Not Bring a Reprieve

#14

Post by ams6110 »

trhway wrote: post #10
iamleppert wrote: post #6

School is for suckers anymore. Who in their right mind would put themselves through what amounts to institutional training for a life of future labor, middle class if you're lucky, working for a corporation as an at-will employee? You've paid thousands and given up four years of your youth, and for what? To go to work (if you're lucky for many) for a big corporation making a select few wealthier? Meanwhile your salar…

man, K-12 is no more. K-16 is the bare minimum to function in the current civilization. Obviously this new reality should be reflected in school organization, i.e. whole K-16 should be covered by the public.

Ironically 1-8 used to be the minumum and those 8th graders were probably better prepared for life than today's 12th graders are.

Re: In New Jersey Student Loan Program, Even Death May Not Bring a Reprieve

#15

Post by kafkaesq »

rayiner wrote: post #4
pkaye wrote: post #2

"Ms. DeOliveira-Longinetti, who co-signed on the loans, was shocked and confused." Be careful when co-signing any loan.

The article calls this abusive loan-sharking at the behest of the state's evil Goldman Sachs overlords. But the woman co-signed her son's loan. What did she think that meant?

The article calls this abusive loan-sharking at the behest of the state's evil Goldman Sachs overlords.

It says no such thing -- either in regard to evil generally, or to Goldman Sachs.

The article mentions GS, but only in passing reference to one of the people it interviewed who happened to have worked there, but got laid off.

Re: In New Jersey Student Loan Program, Even Death May Not Bring a Reprieve

#16

Post by pkaye »

endianswap wrote: post #7
rayiner wrote: post #4

Earlier quoted context omitted.

The article calls this abusive loan-sharking at the behest of the state's evil Goldman Sachs overlords. But the woman co-signed her son's loan. What did she think that meant?

Yeah it's pretty straightforward to pair a loan like this with life insurance (which is not only cheap for someone of college age but also generally requires no medical exam).

That is a good idea. For someone that age, it would be quite cheap and probably could get rolled in with auto insurance for more savings. A $50K policy would cover the average college debt.

Re: In New Jersey Student Loan Program, Even Death May Not Bring a Reprieve

#17

Post by taneq »

ams6110 wrote: post #14
trhway wrote: post #10

Earlier quoted context omitted.

man, K-12 is no more. K-16 is the bare minimum to function in the current civilization. Obviously this new reality should be reflected in school organization, i.e. whole K-16 should be covered by the public.

Ironically 1-8 used to be the minumum and those 8th graders were probably better prepared for life than today's 12th graders are.

By which you mean, life was navigable by an 8th grader back then? I don't think the quality of year 8 students has dropped that significantly.

Re: In New Jersey Student Loan Program, Even Death May Not Bring a Reprieve

#18

Post by jerf »

trhway wrote: post #10
iamleppert wrote: post #6

School is for suckers anymore. Who in their right mind would put themselves through what amounts to institutional training for a life of future labor, middle class if you're lucky, working for a corporation as an at-will employee? You've paid thousands and given up four years of your youth, and for what? To go to work (if you're lucky for many) for a big corporation making a select few wealthier? Meanwhile your salar…

man, K-12 is no more. K-16 is the bare minimum to function in the current civilization. Obviously this new reality should be reflected in school organization, i.e. whole K-16 should be covered by the public.

In which case the "bare minimum" signaling will just move up to the next level, and then graduate degrees will be required. At which point post-graduate will be required. You can't signal that you're above average if everybody comes up to the same "above average" at the same time.

This isn't even hypothetical, there are already industries where this is how it works. A 4-year-degree in teaching or social work just gets you in the door; you are very much expected to keep going and get masters degrees if you want any sort of raise. (It is not clear to me how this makes anyone a better teacher or social worker. It is credentialism in a pure form.) Combined with the general drop in signaling quality of a 4-year-degree as the curricula get easier, this is the inevitable outcome.

We don't need to pour even more money into funding people's walking on the treadmill, we need to attack the reason why the treadmill is necessary in the first place.

Re: In New Jersey Student Loan Program, Even Death May Not Bring a Reprieve

#19

Post by themartorana »

rayiner wrote: post #4
pkaye wrote: post #2

"Ms. DeOliveira-Longinetti, who co-signed on the loans, was shocked and confused." Be careful when co-signing any loan.

The article calls this abusive loan-sharking at the behest of the state's evil Goldman Sachs overlords. But the woman co-signed her son's loan. What did she think that meant?

Yeah that was silly.

This is still relevant, though:

"Most significant, New Jersey’s loans come with a cudgel that even the most predatory for-profit players cannot wield: the power of the state. New Jersey can garnish wages, rescind state income tax refunds, revoke professional licenses, even take away lottery winnings — all without having to get court approval."

Re: In New Jersey Student Loan Program, Even Death May Not Bring a Reprieve

#20

Post by douche »

jerf wrote: post #18
trhway wrote: post #10

Earlier quoted context omitted.

man, K-12 is no more. K-16 is the bare minimum to function in the current civilization. Obviously this new reality should be reflected in school organization, i.e. whole K-16 should be covered by the public.

In which case the "bare minimum" signaling will just move up to the next level, and then graduate degrees will be required. At which point post-graduate will be required. You can't signal that you're above average if everybody comes up to the same "above average" at the same time. This isn't even hypothetical, there are already industries where this is how it works. A 4-year-degree in teaching or social work just get…

Whoo, boy, is master's level coursework in teaching a layup...
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