I dont give a shit!

[editec]

Ya know what, i really don't give a flying shit about your college debts!

I am sick of their whining about the money THEY borrowed. No one forced them to go to college. No one forced them to borrow money.

They signed on the bottom line knowing full well how much they borrowed and that they would have to pay it back.... tough damn shit. It sucks paying your bills.

A completely understandable complaint.

Nevertheless I disagree with the sentiment it expresses.

Personally, I think this nation ought to fully pay people's higher education costs, not only college, but all trade schools, too.


We ought to do this kind of thing for the same reason we allow corporations to write off the cost of their R&D.

Because in the long run those educated workers will help us create a more affluent society overall.

 

[jillian]

Ya know what, i really don't give a flying shit about your college debts!

I am sick of their whining about the money THEY borrowed. No one forced them to go to college. No one forced them to borrow money.

They signed on the bottom line knowing full well how much they borrowed and that they would have to pay it back.... tough damn shit. It sucks paying your bills.

It gives Obiewan another way to appeal to the young vote, and to put taxpayers further into debt, sooner....very crafty this Benedict Arnold....

obiewan?

 

[mudwhistle]

Defaulting on student loans carries the same consequences as defaulting on any other loan. I don't hear you guys bitching about that. Either way, the bank is going to win.

Just how the hell is a bank going to win when people default on syudent loans? It's not like they can repossess your education and sell it to someone else.

You have to clear it via repayment or bankruptcy just like everything else. Is your complaint that most students don't have collateral to secure a loan? So what? You are going to limit student loans to people that don't really need them anyways?

If this was such a screw job for the banks, they wouldn't be in the lending business. As it stands, banks are more then happy to lend to students. They know it's a relatively safe investment. Much more safe then a home or small business loan.

Funny. People default on loans every day in this country and have everything they own liquidated and still come up far short. Most of the borrowers have acted in bad faith. You guys never bitch about them. You bitch about students, because they are an easy target and (frankly) some people on here simply hate/resent those who have gone on to try and obtain a higher education.

Nice of you guys to look out for the banker's interest though. They certainly need all the help they can get. I mean times are hard. Bank of America is now going to charge me every month to access my own money in my own checking account.

Like I said, "and you wonder why the middle class in this country is eroding". We have turned on ourselves so that the uber wealthy can become even wealthier.

All of this class-warfare talk is filtering into our society.

Sowing these seeds pitting the rich against the poor has some disturbing consequences. The poor are taking it upon the themselves to steal from others. Anyone they owe money to runs a risk of getting stiffed. This is the kind of mind-set that started the banking crisis.

Sub-prime lenders were stuck with the bill when hundreds of thousands of irresponsible borrowers walked away from their homes.

Renters decide they don't have to pay their rent because they're tired of paying for something that will never eventually benefit them.

Check-cashing, payday-advance, and title-loan businesses will see their list of dead-beat grow in leaps and bounds.

If you're stupid enough to lend money to somebody you do so at your own risk.

A primary reason for crime in Black communities is the simple fact that most of them are brought up to resent the rich and resent authority. Obama has opened a can of worms that potentially could backfire big-time.....and seriously I don't think he cares.

 

[Warrior102]

Ya know what, i really don't give a flying shit about your college debts!

I am sick of their whining about the money THEY borrowed. No one forced them to go to college. No one forced them to borrow money.

They signed on the bottom line knowing full well how much they borrowed and that they would have to pay it back.... tough damn shit. It sucks paying your bills.

I agree. I have one in college (sophomore) and he attends a small, private, very expensive college. I have deferred EVERYTHING until he graduates. He has a clear understanding that it's "HIS DEBT" to begin paying down after graduation with money he earns from his JOB - post-graduation.

Ditto with son #2 - going into college next year. It's all on him.

Both the boys have this clear, non-whining understanding.

 

[mudwhistle]

Ya know what, i really don't give a flying shit about your college debts!

I am sick of their whining about the money THEY borrowed. No one forced them to go to college. No one forced them to borrow money.

They signed on the bottom line knowing full well how much they borrowed and that they would have to pay it back.... tough damn shit. It sucks paying your bills.

A completely understandable complaint.

Nevertheless I disagree with the sentiment it expresses.

Personally, I think this nation ought to fully pay people's higher education costs, not only college, but all trade schools, too.


We ought to do this kind of thing for the same reason we allow corporations to write off the cost of their R&D.

Because in the long run those educated workers will help us create a more affluent society overall.

Or we'll just end up with a bunch of poorly educated unemployed irresponsible whiners living with their parents. Ultimately the costs have to be considered.

I see the lines being drawn already. A new wedge-issue is born folks.
I can't understand why people still haven't learned to be more cynical about Obama yet.


I'm all for lending a hand, but this is getting to be a bit much.

I think you need to look at all of the possibilities before you fall for this crap yet again.
Obama specializes in the shit-sandwich.

It has nice fresh bread on the top and the bottom representing the promises in the beginning and promises at the end, but you have to forget all that really took place in the middle.

Then comes the time you have to partake in one of his deals.

Looks pretty good.....but tastes like shit when you take a bit.

Gee, it sure sounded good when he talked about it.

We need laws that prevent politicians from inventing ridiculous wedge-issues. Maybe an anti-kickback for vote law.

 

[mudwhistle]

Ultimately Obama doesn't really care.

We gave him a license to kill and a license to steal by electing him president.

He figures he can ignore laws and nobody can touch him. He figures he can promise the world and deliver a shit-sandwich and get away with it.

If you throw away reason and vote for what amounts to a perk in return for your vote there is a price to pay for it.

Links

Blog: Rep. Ryan accuses Obama of 'sowing social unrest'

Articles: Is the POTUS Stirring Up a Revolution?

Articles: The Risk of Revolution Grows

Articles: Obama's War on Greed

 

[Douger]

That is the most disgusting bosum I've ever seen, aqua.

Well. I was going to give her a nice camel toe avatar but Chicks with Dicks thinks wet bikinis are porno.

 

[geauxtohell]

I will and I have bitched about people defaulting on car loans mortgages, student loans and Small Business loans. I happen to think that if you borrow money and sign a contract promising to pay it back, you damned well should STFU and pay it back
It's not so much looking out for the banks' interests as demanding that people live up to their obligations.
If I borrow money to expand my business, I pay interest. Part of the rate is a certain percentage to cover bad loans. Deadbeats cost me money at the bank and if you default on a debt to the government, you cost me money in taxes. I have every right, more right than people with student loans, to bitch quite loudly.

You understand the concept of a student loan right?

Student's pay interest on their loans too. My interest rate is about 7% for a six figure amount to finance a medical education.

If I default on my loan, I can't practice medicine. There are consequences to default regardless of the loan type. You guys just can't get that through your heads, because it's easier to bitch about college students.

I guess those frigging uppity kids are getting what they deserved for not being a ditch digger, huh?

 

[geauxtohell]

...

Funny. People default on loans every day in this country and have everything they own liquidated and still come up far short. Most of the borrowers have acted in bad faith. You guys never bitch about them. You bitch about students, because they are an easy target and (frankly) some people on here simply hate/resent those who have gone on to try and obtain a higher education.

Nice of you guys to look out for the banker's interest though. They certainly need all the help they can get. I mean times are hard. Bank of America is now going to charge me every month to access my own money in my own checking account.

Like I said, "and you wonder why the middle class in this country is eroding". We have turned on ourselves so that the uber wealthy can become even wealthier.

It has nothing to do with students.

It has everything to do with responsibility - personal responsibility to be exact. They know what they signed. They made that choice to sign it.

Irrespective of what the purpose of the loan is. So, you are mistaken that folks just don't like welshers who are students. Folks just don't like welshers. It's an integrity thing.

And, the Banks won't suffer much at all. Most student loans are government guaranteed. And those that aren't, the loss will be passed to the customer, as losses always are.

Yeah. I get that, and these students will repay their loans or default. They aren't going to have their loans waved regardless of the hyperbole.

I think there is a valid point to be made by the protestors about the idiotic increase in tuition and loan rates. Why has the loan rate tripled in 10 years?

The reality is that few people can obtain a higher education without taking out loans. Statistically, a higher education correlates with a higher income. Students have a right to address the consumer end of the deal.

I don't see why this is considered a bad thing.

 

[Si modo]

...

Funny. People default on loans every day in this country and have everything they own liquidated and still come up far short. Most of the borrowers have acted in bad faith. You guys never bitch about them. You bitch about students, because they are an easy target and (frankly) some people on here simply hate/resent those who have gone on to try and obtain a higher education.

Nice of you guys to look out for the banker's interest though. They certainly need all the help they can get. I mean times are hard. Bank of America is now going to charge me every month to access my own money in my own checking account.

Like I said, "and you wonder why the middle class in this country is eroding". We have turned on ourselves so that the uber wealthy can become even wealthier.

It has nothing to do with students.

It has everything to do with responsibility - personal responsibility to be exact. They know what they signed. They made that choice to sign it.

Irrespective of what the purpose of the loan is. So, you are mistaken that folks just don't like welshers who are students. Folks just don't like welshers. It's an integrity thing.

And, the Banks won't suffer much at all. Most student loans are government guaranteed. And those that aren't, the loss will be passed to the customer, as losses always are.

Yeah. I get that, and these students will repay their loans or default. They aren't going to have their loans waved regardless of the hyperbole.

I think there is a valid point to be made by the protestors about the idiotic increase in tuition and loan rates. Why has the loan rate tripled in 10 years?

The reality is that few people can obtain a higher education without taking out loans. Statistically, a higher education correlates with a higher income. Students have a right to address the consumer end of the deal.

I don't see why this is considered a bad thing.

Tuition has increased at a phenomenal rate compared to other sector's increases in prices.

The reasons for that and the sequences of events that led to that would make my post too long-winded.

But, suffice it to say, this generation (and some of the last ones) are getting a lower quality product for a much higher price.

Add to that the fact that they are now competing for jobs with the world, so the supply is not in their favor for a job.

They have it rough, no doubt. They are unclear on who to blame for it, though.

 

[AquaAthena]

Ya know what, i really don't give a flying shit about your college debts!

I am sick of their whining about the money THEY borrowed. No one forced them to go to college. No one forced them to borrow money.

They signed on the bottom line knowing full well how much they borrowed and that they would have to pay it back.... tough damn shit. It sucks paying your bills.

It gives Obiewan another way to appeal to the young vote, and to put taxpayers further into debt, sooner....very crafty this Benedict Arnold....

The monthly impact of the president's new effort for most Americans paying off college debt will be between $4 and $8.

Obama's Student-Loan Order Saves the Average Grad Less Than $10 a Month - Daniel Indiviglio - Business - The Atlantic

 

[mudwhistle]

I will and I have bitched about people defaulting on car loans mortgages, student loans and Small Business loans. I happen to think that if you borrow money and sign a contract promising to pay it back, you damned well should STFU and pay it back
It's not so much looking out for the banks' interests as demanding that people live up to their obligations.
If I borrow money to expand my business, I pay interest. Part of the rate is a certain percentage to cover bad loans. Deadbeats cost me money at the bank and if you default on a debt to the government, you cost me money in taxes. I have every right, more right than people with student loans, to bitch quite loudly.

You understand the concept of a student loan right?

Student's pay interest on their loans too. My interest rate is about 7% for a six figure amount to finance a medical education.

If I default on my loan, I can't practice medicine. There are consequences to default regardless of the loan type. You guys just can't get that through your heads, because it's easier to bitch about college students.

I guess those frigging uppity kids are getting what they deserved for not being a ditch digger, huh?

You signed the thing. If the loan conditions suck, don't sign. Don't blame us if you default.

Btw, the GOP didn't force tuition up. Blame the institution.

 

[geauxtohell]

All of this class-warfare talk is filtering into our society.

You say that like it's a bad thing. It is class warfare. The middle class is realizing that it is getting screwed. When the Tea Party started to bitch, it was considered patriotic. When OWS does it, it's "class warfare".

As useful as you guys are to the corporate interests that have too much influence in this country, telling people "there is nothing to see here" isn't going to change anything.

Sowing these seeds pitting the rich against the poor has some disturbing consequences. The poor are taking it upon the themselves to steal from others. Anyone they owe money to runs a risk of getting stiffed. This is the kind of mind-set that started the banking crisis.

As opposed to the rich stealing from everyone else?

I guess those Enron employees should have just STFU when their pensions were raided for Kenny Boy's golden parachute, huh?

Sub-prime lenders were stuck with the bill when hundreds of thousands of irresponsible borrowers walked away from their homes.

And go into bankruptcy, liquidation, and foreclosure. Due to the bankruptcy laws that passed a few years ago, even this process is a total screw job.

Renters decide they don't have to pay their rent because they're tired of paying for something that will never eventually benefit them.

And get evicted.

Check-cashing, payday-advance, and title-loan businesses will see their list of dead-beat grow in leaps and bounds.

Oh Dear Lord! Will someone think about the Legal Loansharkers?

If you're stupid enough to lend money to somebody you do so at your own risk.

LMAO. Yes. Those poor bankers. They really have it tough. I mean, who in the world would want to be a banker? You might as well be a janitor, where the real money is at.

A primary reason for crime in Black communities is the simple fact that most of them are brought up to resent the rich and resent authority. Obama has opened a can of worms that potentially could backfire big-time.....and seriously I don't think he cares.

That is too fucking stupid to even address. You can't quantify that statement, and you know it. You bitch about anyone considering "class warfare" and end on a "race warfare" note?

At any rate, it's nice of you guys to run to the defense of the corporations. Never mind that the deck is overwhelmingly stacked in their favor. No, you have to crap all over a group that is simply exercising its constitutional right to point out that the corporations in this country have amassed an almost absurd degree of power.

 

[geauxtohell]

I will and I have bitched about people defaulting on car loans mortgages, student loans and Small Business loans. I happen to think that if you borrow money and sign a contract promising to pay it back, you damned well should STFU and pay it back
It's not so much looking out for the banks' interests as demanding that people live up to their obligations.
If I borrow money to expand my business, I pay interest. Part of the rate is a certain percentage to cover bad loans. Deadbeats cost me money at the bank and if you default on a debt to the government, you cost me money in taxes. I have every right, more right than people with student loans, to bitch quite loudly.

You understand the concept of a student loan right?

Student's pay interest on their loans too. My interest rate is about 7% for a six figure amount to finance a medical education.

If I default on my loan, I can't practice medicine. There are consequences to default regardless of the loan type. You guys just can't get that through your heads, because it's easier to bitch about college students.

I guess those frigging uppity kids are getting what they deserved for not being a ditch digger, huh?

You signed the thing. If the loan conditions suck, don't sign. Don't blame us if you default.

Btw, the GOP didn't force tuition up. Blame the institution.

I am not bitching. I am pointing out the reality is that, unless you are independently wealthy, you have to take a student loan out to climb the income bracket in this nation.

The GOP increased the interest rates and ended deferment through residency. Try and tell me I don't know the deal on the money I owe.

 

[jillian]

You understand the concept of a student loan right?

Student's pay interest on their loans too. My interest rate is about 7% for a six figure amount to finance a medical education.

If I default on my loan, I can't practice medicine. There are consequences to default regardless of the loan type. You guys just can't get that through your heads, because it's easier to bitch about college students.

I guess those frigging uppity kids are getting what they deserved for not being a ditch digger, huh?

You signed the thing. If the loan conditions suck, don't sign. Don't blame us if you default.

Btw, the GOP didn't force tuition up. Blame the institution.

I am not bitching. I am pointing out the reality is that, unless you are independently wealthy, you have to take a student loan out to climb the income bracket in this nation.

The GOP increased the interest rates and ended deferment through residency. Try and tell me I don't know the deal on the money I owe.

I kinda think someone like muddy who was eligible for the GI Bill shouldn't begrudge people fairness just because they take student loans to better themselves.

 

[geauxtohell]

It has nothing to do with students.

It has everything to do with responsibility - personal responsibility to be exact. They know what they signed. They made that choice to sign it.

Irrespective of what the purpose of the loan is. So, you are mistaken that folks just don't like welshers who are students. Folks just don't like welshers. It's an integrity thing.

And, the Banks won't suffer much at all. Most student loans are government guaranteed. And those that aren't, the loss will be passed to the customer, as losses always are.

Yeah. I get that, and these students will repay their loans or default. They aren't going to have their loans waved regardless of the hyperbole.

I think there is a valid point to be made by the protestors about the idiotic increase in tuition and loan rates. Why has the loan rate tripled in 10 years?

The reality is that few people can obtain a higher education without taking out loans. Statistically, a higher education correlates with a higher income. Students have a right to address the consumer end of the deal.

I don't see why this is considered a bad thing.

Tuition has increased at a phenomenal rate compared to other sector's increases in prices.

The reasons for that and the sequences of events that led to that would make my post too long-winded.

But, suffice it to say, this generation (and some of the last ones) are getting a lower quality product for a much higher price.

Add to that the fact that they are now competing for jobs with the world, so the supply is not in their favor for a job.

They have it rough, no doubt. They are unclear on who to blame for it, though.

Not with the interest rates. That's a pretty clear line. They have increased 2-3 fold in the last ten years.

 

[geauxtohell]

You signed the thing. If the loan conditions suck, don't sign. Don't blame us if you default.

Btw, the GOP didn't force tuition up. Blame the institution.

I am not bitching. I am pointing out the reality is that, unless you are independently wealthy, you have to take a student loan out to climb the income bracket in this nation.

The GOP increased the interest rates and ended deferment through residency. Try and tell me I don't know the deal on the money I owe.

I kinda think someone like muddy who was eligible for the GI Bill shouldn't begrudge people fairness just because they take student loans to better themselves.

It's just the basic point of the matter. Students are trying to better themselves. That used to be seen as a good thing. Now the are being equated to people that act in blatant bad faith with the housing market or credit cards?

It's absurd.

 

[Si modo]

I am not bitching. I am pointing out the reality is that, unless you are independently wealthy, you have to take a student loan out to climb the income bracket in this nation.

The GOP increased the interest rates and ended deferment through residency. Try and tell me I don't know the deal on the money I owe.

I kinda think someone like muddy who was eligible for the GI Bill shouldn't begrudge people fairness just because they take student loans to better themselves.

It's just the basic point of the matter. Students are trying to better themselves. That used to be seen as a good thing. Now the are being equated to people that act in blatant bad faith with the housing market or credit cards?

It's absurd.

I'm equating them with whiners whining about what they knew they need to do.

 

[geauxtohell]

.....And yes, most will pay off their loans at lower interest and arrears will be forgiven in 20 years if they can extend repayment that long.

Oh, and let's just talk about "Income Based Repayment" that you guys are also patently ignorant of as displayed by your fallacious belief that if you stonewall the government for 20 years your debts are magically forgiven.

The second move will accelerate a program designed to cap repayments. Existing rules allow graduates to limit payments to 15% of their income, with all debt forgiven after 25 years of payments. Congress has changed the program to allow borrowers in 2014 to pay 10% of income, with loans forgiven after 20 years. Mr. Obama will say the program will start next year, not 2014.

Obama Plan Would Cut Student-Loan Interest Rates - WSJ.com

FinAid | Loans | Repayment Plans | Income-Based Repayment

I bolded the relevant piece that you guys are missing. You still have to pay your loan and your loan accrues interest until it is paid in full and your payment is based off of your income.

As an example, say a resident doctor graduates medical school with an average debt of $200,000 and enters a job that pays about $40,000 a year. They currently will pay 15% of $40K on their note annually. That's about $6000 a year.

After 3-5 (or whatever) years of residency, say their income goes up to $200,000. Now their payment is $30,0000 a year.

All the while, the interest rate is compounding. If a person intentionally strings out their loans for 20 years intentionally, they are stupid or impoverished. They will have repaid the principle and basically relegated themselves to "slow bleed" 15% of their check is gobbled up by their loan for the vast majority of their career.

As with credit cards, it's in your best interest to pay off your debt as early as you can. IBR exists so students can afford to feed themselves out of the starting gate and aren't saddled with debt who for whatever reason can't pay it aren't still paying on it when they are in their 40s. I highly doubt that many people are going to be in that category. Start factoring in a house and children and the incentive to get out from under your loans becomes pretty apparent.

At any rate, the notion that a student can simply avoid payment and be forgiven by the government in 20 years is simply false.

 

[High_Gravity]

I think college for be for those over 30.
18 yr. olds don't have a clue as to what they want to do for the rest of their working life.

A person should have some real life work experience under their belt before making that kind of financial commitment

Good fuckin point sir.