Student Loans

We produce taxpayers who benefit the system and enslave them to loans. It seems that the loan availability in itself would drive the cost of education up. It would seem to create a viscious "cycle" of people beholden to the Government and not create independent and truly free thinkers.

There has to be a better way. As Ol' TJ hisself done said "A little rebellion now and then...is a medicine necessary for the sound health of government."
"Rebellion to tyrants is obedience to God."

Tyranny, Tyranny, Tyranny

Just my feeling

My sister-in-law is feeling the pinch of these loans

That darn Jefferson sounds like a Right Wing Extremist!

A wonderful woman I knew, a gifted medical doctor, committed suicide two years ago. One of the ongoing stressors in her life was trying to payoff the $250K she had in medical school student loans. Even on a doctor's salary she couldn't service this debt and have any kind of life (at least not at the cost of living here in NYC.) And, of course, since they were student loans, there was no BK option for her. So as a society we took the time and effort to train a doctor, and then lost her--sucked the life out of her really--through this hideous system we have for "financing" higher education by mortgaging our young people's futures. (Not that I have strong opinions on these matters ;-).

Where is all of this "free money" for school that you see advertised? I swear to God... if you make more than $5.00 a year, you're not going to school for free, unless you fall under some "special circumstance."

The purpose of the student loan is to produce slaves who will be compliant and obedient. the system is evil.

That may not have been the intention of those who started the program, but it is what happens. It disgusts me. It also raises the cost of education.

I am one of those "slaves". Half of my debt is attributed to student loans. I am filing Ch 7 BK so that I can wipe out the other to pay for school. As you can see, the whole "rob Peter to pay Paul" still exists even AFTER filing...school loans won't let me put them in forbearance any longer...I have NO CHOICE but to pay...oh, and FREE MONEY! I cry BS!!! I received one grant, in my entire college career of 5 1/2 years, of $500. Whoopee- didn't even pay for one semester's books. There is no such thing as free money. Doesn't exist.

School loans have killed me. I am now bankrupt and I still have to pay. For the next 10-15 years of my life. This price of education can't even get me a decent job...

And then the alumni association calls me up and asks me to Donate!!! Yeah, um, ok. whatever.

I would rather, as taxpayer, front part of the cost of an education than to loan the money. The Country must be competitive I agree. I wonder if the cost of education would drastically decrease if we scrapped the student loan program altogether. I believe it might.

It seems like America is trying to play in the Socialists sandbox to. we can't always go both ways. But personally, I'd rather give away the education than finance it. I hate to see young people start out on their left foot.

It is really sick that by the time majority of young people come out of college today, they already have more than $10,000 in credit card debt and thousands MORE in student loan debt. Were is the freedom in that?

It is slavery, not freedom and drives up the cost of education. Do gooders and bleeding hearts always HURT those they mean to help.

I read a book by Theodore H. White on the '72 Mcgovern campaign. I grew up in Miami Beach (after age 11). and remember the '72 Convention (Dem & Rep) very well so the book was of interest.

He was a confirmed democrat, no problem. What was disturbing was that Mr. White, whose other books I have also read, passed over many of Mcgoverns enormous mistakes and stated that they were done out of a "sincere and loving heart". But they hurt the taxpayers in many cases. It is the prime example of bleeding heart journalism. This from a rational, sane man and one of the greatest journalists who ever lived. A man who rode with Mao part of the way as a reporter for Time on The Long March (no, he was NOT a communist, he also lived in Chiang's Palace in Chung King as part of his reporter duties).

In his case the views he expressed may have been birthed in The Great Depression, under whose shadow we were all raised (those of us 45 and over). Our parents memmory of it formed our financial views and our views of big Government in some cases. After all without a strong Federal Government many people would have starved and the Country would have plowed headlong into disarray. So to a point, the views of the older generation on Student Loans, Grants, etc... can be understood. My problem is not helping someone who needs some small subsidy to help defray the expense. My big issue is with LOANING them money. You create a dependant class. We are moving slowly toward passing on of personal debts, you will see the attempt in our lifetime.

It is a mentality that won't go away but defies description. Liberalism is just a failure.

This is why I am in the army reserve. I would rather be shot at than get a student loan.

Actually, you've got the right idea. You are performing a vital service even if you are not called up. I don't discourage anyone from taking that risk. There are to many out and out scumbags who have no idea what it is to risk for a Country or a cause.

Don't minimize what you are doing. I believe it was Washington or Jefferson who said (paraphrased), a war cannot be sustained without an interest. Patriotism will not sustain a long War, there has to be an interest. Vietnam is a prime example. Bettering yourself while benefitting the Country does not diminsh what you do.

Thank you for the time you put in and the risk you take. I sleep better knowing that there are young folks who take the risk and even stick with it.

Fallout, I'm a veteran and had the GI Bill while in college, getting $400/month from the government didn't prevent me from getting into student loan debt. $400/month was just not enough to pay for school. By the time I was out of school I had $20,000 in student loan debt, plus about $5,000 in credit card debt.
Hope you signed up for the GI Bill plus the College Fund and hopefully the army pays for a percentage of your school while you in the reserses as well.
Good luck!

The combined monthly GI Bill and College Fund stipend, isn't nearly enough to cover the yearly tuition and room/board for a private college. But these combined education benefits are excellent for public universities/colleges.

So can I assume that you are NOT allowed to list student loans as part of bankruptcy

In short, probably not. Student loan debts are nondischargeable in Chapter 7 Bankruptcy cases unless paying the debt would cause the debtor "undue hardship." This basic rule also applies to Chapter 13 Bankruptcy cases.

You have to list them, they just aren't dischargeable.

Whats happens if you just don't pay the loan payments? I assume that you don't have to go to jail. Judgements against wages are limited somewhat are they not? If you haven't any property to lien on what are they going to do? Can they revoke your degree? I am sure they (uncle Sam) covered his flag in the loan agreement, how did they assure payment.

One thing that really gets my goat is the hugh amounts of money that go the the Athletic programs. I am not talking about the swim teams or the gymnastics types of programs, they get nothing, I mean Football and Basketball. Millions and millions of dollars go into this programs. Head coaches in the big collages have muti-million dollars contracts and the players not only get a free education (PE Major) but they get plenty of under table cash as well. While the Doctors and educators and the likes have to get loans that they can not possible pay back.

When is the general public going to wake up and put an end to this stupidity. All that we have to do is stop supporting pro sports. If Pro Sports goes down then there would be no reason to dump so much money in collage football and basketball. The booster clubs would have to acually fork out the money they claim they do. We should realize that we are the main contributors to our own demise. In Europe there are no sports programs available in school. Their sports programs are all privately funded and have zero impact on the public schools budgets. We need to ban football,basketball and baseball from our school systems and give the educators and the medical majors a free education. Without these people we cannot survive as a nation. I am sure that we can get by without pro sports.

mark

So can I assume that you are NOT allowed to list student loans as part of bankruptcy

Don't bother! They aren't dischargeable :D