STUDENT LOANS

1958 delivery

Well Known Member
Supporting Member 2
This issue has been talked about for awhile now. Seems the liberals want to forgive student loans, I think. I haven't paid much attention to this but just thought more about it today. My take has always been that it's just another liberal gimmick to try to muster up votes. Now I know college tuitions have gotten absurd. When I was at UCLA the expense didn't seem to be too bad. I was out of the military and drawing my Vet education money. I could afford it and I didn't get much from my benefits, also worked part time. Couldn't afford much of a car and definitly had to rent with friends to afford decent housing. Had just enough to party regularly, But I never considered a student loan. I think tuition may have been a couple thousand per year. Now a days they're paying $20-$30,000 :confused
My main reason for this post is to say why should student loans be forgiven? They're adults, believe it or not and they took out a loan and spent it on an education. They received what they paid for. Should the government forgive my mortgage? just because? I understand that many of these young adults are in debt $100000 and more from the years in college. Get a job and pay it back. Or don't go to college if it's too expensive. How about go join the military and earn some benefits for school etc.
 

IMBVSUR?

Well Known Member
Supporting Member 2
The most important thing is that the borrower receives something that cannot be returned. You can take back a car or house, you cannot take back an education. No the loans should not under any circumstances be forgiven unless they die. Students are only allowed to borrow a certain amount based on age. The parents sign for anything beyond that. The loan forgiveness I have heard recently from Biden is 10K, however I have heard much more from others in the democrat party. The only loans the Feds can forgive is federal, no private loans. So that means they are GIVING away your tax dollars. Next the left will directly take tax dollars and pay the private loans too. And you bet your a** it's all about votes like everything else they do. I paid my wife's school loans as did her parents. Do I get that money back? What a great example to set for people. Borrow all you want. No payment required. So lets apply that to homes, cars, etc. It's no different. The borrowers knew when they took out the loans they would have to pay them back. However, let me digress. I recently was listening to a retirement/investment show on the radio. The host told the lady to not sign for any of her daughters loans as they might be forgiven in the near future. That's teaching responsibility, that's the left.
 

61BUBBLE348

Well Known Member
Supporting Member 11
The whole Govt. supported University Educational debt which has been around for 40 years, at least in Australia, is basically a large handout for universities and the like, In Australia, the govt. backs the loan until you earn enough to start paying it back, if you don't your debt just hangs there, if you go overseas you don't have to pay the debt back until you return and earn enough, our government complains about brain drain, hell if you rack up a debt and get out you save yourself $ 50,000 or more. I understand a lot of people who otherwise couldn't afford such an education have gone on and done well, but the majority of these loans are to either full time students or subjects of no value real value to society.
 

bobs409

 
Administrator
Just more insanity of the liberal idiots! Don't try to understand their way of thinking. (if you call it thinking) It's called backasswards thinking.

Ya know, we give democrats way too much credit for being smart. Look at the grand scale of STUPID they pulled in rigging this election. The evidence is all there and they are caught! (according to Rudy G) As long as our guys don't buckle and get this election turned around, the world may finally see what criminals they truly are! (and I don't think Mr. Trump is the type to give up easily!) :roll
 

Tom Kochtanek

Well Known Member
Supporting Member 12
Borrowing money to pay for college expenses is a decision made by students and parents that has expectations of higher earnings post graduation. So the risk should be on the borrower, be in the parent or the student. I think this needs to be repaid by the borrower(s) out of future earnings from the student who benefits from the educational opportunities.

I feel that the lending institutions make it toooo easy to borrow large sums guised as "college expenses". I've seen graduate students who use those monies to rent housing I wish I could have lived in and to buy top shelf liquor even though it's all tied to a loan... It is just too easy for a student to get "upside down" in terms of debt.

That said, most students taking out loans, especially those pursuing professional degrees, pay those back even with favorable interest rates. I attended a private University from 1969 to 1977 (eight years) that is now around $57,000 per year and I escaped with debt less than $4000. I paid that student loan off the first year I began working full time. I was the first in my family to attend a University. I worked my way through college (that's why it took eight years!) and paid in cash every Fall for the new semester credit hours. Of course it was something like $9K a year plus room & board but I had a small scholarship and painted houses in the summer to make up the rest. Unfortunately my parents were not able to contribute to my educational forays.

I feel access to education should be made for anyone qualified, but that expenses should be born by the recipient.
 

Austin Bubbletop

Well Known Member
Supporting Member 1
Was just talking about this with my wife. We watched my best friend get run through the wringer with his daughter. She's graduating next month with a nutrition-something-or-other degree and $100k in loans. Took 6 years. She went to Vegas twice a year, music festivals all over the country and drives a new Honda. His reasoning was that she had a bartending job that paid for her lifestyle. The loans covered housing and school 100%. Meanwhile there are kids that work their asses off so they're not buried in debt. This country rewards failure. I had loans that felt like the weight of the world, no where near $100k. I'm going to want my money back!
 

Iowa 409 Guy

Well Seasoned Member
Supporting Member 15
I applaud you Tom. You've worked hard to achieve success.

My shooting buddy and his wife both went to college and did well with their educations. They both held two jobs while attending. No help from their parents. No debt. He retired 17 years ago and was VP of a large utility company here in Iowa.

Most kids today aren't going to work that hard.

Bullcrap on taxpayers paying student debt for basket weaving or any other.

The government didn't pay any of my debt for creating full time jobs when I was in business. I was the largest private employer in town. Not just in stature either.
 

IMBVSUR?

Well Known Member
Supporting Member 2
Borrowing money to pay for college expenses is a decision made by students and parents that has expectations of higher earnings post graduation. So the risk should be on the borrower, be in the parent or the student. I think this needs to be repaid by the borrower(s) out of future earnings from the student who benefits from the educational opportunities.

I feel that the lending institutions make it toooo easy to borrow large sums guised as "college expenses". I've seen graduate students who use those monies to rent housing I wish I could have lived in and to buy top shelf liquor even though it's all tied to a loan... It is just too easy for a student to get "upside down" in terms of debt.

That said, most students taking out loans, especially those pursuing professional degrees, pay those back even with favorable interest rates. I attended a private University from 1969 to 1977 (eight years) that is now around $57,000 per year and I escaped with debt less than $4000. I paid that student loan off the first year I began working full time. I was the first in my family to attend a University. I worked my way through college (that's why it took eight years!) and paid in cash every Fall for the new semester credit hours. Of course it was something like $9K a year plus room & board but I had a small scholarship and painted houses in the summer to make up the rest. Unfortunately my parents were not able to contribute to my educational forays.

I feel access to education should be made for anyone qualified, but that expenses should be born by the recipient.



Like you said Tom, adjusted for inflation, $9,000.00 in 1973 is equal to $54,418.02 in 2020. Therefore it's the same for people then as now basically. The difference is generations of people raised to expect someone to take care of them. Additionally we see people taking huge loans for educations that will only result in low paying jobs. Again, that is their fault. You borrow, you pay. Otherwise I want to go back to school full time.
 
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oleblu72

Well Known Member
Supporting Member 5
I think college is a waste of time & money for some they're told if your smart you'll go to college after school so they do and go into debt and they work at McDonalds or a Dept. store after college but for some college is the answer depends on what you want to do .I myself think Trade schools offer a lot more and its a hell of a lot cheaper. And sure do not want to pay for their edumacation with my tax dollars.

Mark
 
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Junky

Well Known Member
Friends son opted not to go to college, and became an auto mechanic at a Ford dealership. They are sending him to Ford training school regularly, and he is one of the top paid mechanics at the dealership. His daughter went to college, and graduated, and now has a high paying job, and she is paying off her college loans as fast as she can. They are both successful and have good work ethics. Unfortunately many others don't, and the see college as a way to party and not work.
I remember about hearing about a program in England, where the government paid your mortgage if you became unemployed. The program was short lived, because those with less that stellar integrity quit their jobs, to take advantage of the free money. Liberal politicians' believe in sharing other peoples money with the less fortunate, but not their own. Nancy Pelosi is a prime example!
It is just like the democrats criticize large corporations, and wealthy people such as President Trump for "not paying their fare share", but they didn't write the tax code, the democratic politicians in Washington did, and they wrote it in such a way as they themselves became the beneficiaries of the tax code, but they complain when the Republicans avail themselves of the same tax breaks.
 

IMBVSUR?

Well Known Member
Supporting Member 2
Can't use a liberai social arts degree for that
Cant use one for anything. Ask me how I know and how much we paid for the loans because the love of my life never really wanted to declare a major. Still, we paid. I want her parents and our money back and I want to go to school full time. I can't wait to hit spring break and those dorm parties. Yea, yea, I know I am older, but I bet I could still have fun and bag some drunk strung out, lost their minds on drugs cuties :crazy Seriously though I like to learn and would go back if it was free, maybe not full time though.
 

409gang

Well Known Member
Supporting Member 1
I never went to college as my parents could not afford to pay for it nor could I at the time. I started working right out of high school and never stopped till I retired last year. Every dime I ever borrowed I paid back on time and in full, if you can't afford to pay back what you borrow then don't borrow it. If this government starts paying for these idiots schooling I feel the need to get a higher education. Im with you Jeff, we could be classmates and go to spring break together, Lol. Since when is the government responsible for everyones poor choices, they need to quit crying, get a job, save their money, pay their own way thru school and learn to live within their means.
 

Tom Kochtanek

Well Known Member
Supporting Member 12
When I was in college, Spring Break was a chance to make some money to tide me over for the remainder of the semester. In the 8 years I attended college I only had one Spring Break experience. Going to a private institution was a bit of a challenge for me. Most of my classmates were from well off families and had a different life style than I was used to. Some had monthly "stipends" for social expenses. And there were more than a few XKEs and GTOs for those who graduated. My Dad was a milkman (remember those?) and I bet never made more that $12K annually. But he did pass along some valuable insights that I still retain :) :) :).
 

oleblu72

Well Known Member
Supporting Member 5
My ex Sister-in-Law (thank the Lord) maxed out her charge card at Spiegel's because she didn't feel like paying for it and declared bankruptcy, but this act didn't surprise me because she was that type of individual. My Niece did the same thing just had to much debt so she declared bankruptcy she was working and wasn't in trouble financially but she just got tired of paying for it ,and she surprised me by doing this. I was raised that what you borrow either from a institution or a individual it was your responsibility to make good on it. Mom & Dad trusted me enough that back when I was 15 years young they co-signed for me on a bank loan for a Suzuki trail bike for which I very much appreciated and I payed them back for their trust by paying back the loan in half the time it was taken out for.

Mark
 

409gang

Well Known Member
Supporting Member 1
I hear what your saying Mark, they make it to easy to file for bankruptcy these days and even encourage it. I had a rental house some years back and on two different occasions I had to boot the tenants out and take them to small claims court for back rent, and yes to everyones suprise they filed bankruptcy and I could't get anything out of them. I am like you, I was taught that if you borrowed money, signed a contract or whatever it was your responsibility to make good on it. My dad used to say a man is only as good as his word!
 
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