DEFAULT...Student Loans

[crcballer55]

If you want the best ROI for your money, pick engineering. 9 of the 10 best paying jobs are engineers according to CNN

Here are the best schools for lifetime ROI according to Payscale.com

 

[youngdoc]

Another problem is the cost of higher education rising more than salaries

 

[crcballer55]

Such a pathetic attitude about borrowing.

Student loan debt is the nicest of any debt. They offer all sorts of ways to help you out. You can choose to pay over 25 years if you'd like. Any college graduate can afford 400 a month payment. When you start making a lot of money when you are 30 to 40 you can pay it down quickly. Have some responsibility for your own decisions. Weak.

What about the 40% of borrowers who don't graduate?

And how come we frown so hard on working during school to help with the costs too? I'm guilty of it too when I was in school, but let's be honest... unless you're an A student, or pre-med, you're not "focused on school" a lot of the time anyways.

 

[RustyShackleford]

so you're solution is to wait till the bubble bursts?


lolwut


You're willing to sacrifice an entire generation of people?

We've already sacrificed a whole generation haven't we? We already have an entire generation coming out of college unable to live their dreams because they're more concerned about paying off their loans.

So you plan is to make college completely out of reach to lower income students, in hopes that colleges decrease tuition in the long run.


And what's to say the private sector just won't step up and cause a bigger problem


-How about we give everyone free community college and/or trade school....But I'm know you won't be in favor of that because of that right

Wasn't the President's plan to cut out the private sector already the solution to the private sector taking advantage? If you're deeply in debt, the solution isn't to offer more debt. It's to take away that option so you can figure out another way to pay for it. I dare you to go to any college campus and not find a major building project under construction. By cutting back federal loan programs, it will force colleges to reconsider whether they want to continue to build those monuments to themselves or offer a better service to their students. Does a school really need to have the latest and greatest of everything?

One thing I will agree on is the site that displays each college's statistics on graduations and majors. I think if people actually knew what kind of value they are getting for their money then they can make a more informed decision

Regarding community college, listen to this and you'll realize that free government subsidized school isn't the answer for community college:

Having gone to one, I can vouch for this in many cases I saw too.

So what happens to the students in the interim while the "great awakening" takes place. Oh! and employers will suddenly lower their requirements instantly too I suppose?

**** a entire generation of kids, in the hopes that they slash education budgets?

And let's hope that banks don't try to step in and prey on these kids. I mean no chance of that happening

You wanna post a video talking about Obama's plan, without even acknowledge that your plan isn't a magic bullet in anyway either.

 

[capital sb]

Too much logic crcballer55

 

[slighted]

 
If you want the best ROI for your money, pick engineering. 9 of the 10 best paying jobs are engineers according to CNN

Here are the best schools for lifetime ROI according to Payscale.com

Agreed, but Engineering is not exactly easy.

 

[RustyShackleford]

Too much logic crcballer55

You too are perfect for each other

The **** errbody else, I got mine boys.

-Btw I went to a CC and have advocated CLEP in other threads too. But I'm not arrogant to act like I got all the answers

 

[capital sb]

You too are perfect for each other

The **** errbody else, I got mine boys.

-Btw I went to a CC and have advocated CLEP in other threads too. But I'm not arrogant to act like I got all the answers

acting like I have all the answers? Giving an alternative and suggestion to make college affordable is having all the answers bet.

Oh and I helped 25 people graduate with jobs this year since I'm so selfish you don't know the half bruh. Keep guessing though.

I'm good on this topic I'm the "exception" so I can't give my opinion [emoji]128076[/emoji][emoji]127997[/emoji]

 

[yanky]

Another problem is the cost of higher education rising more than salaries

You can say that again.

 

[RustyShackleford]

Robin Hood Tax: 

Spoiler: Warning: Spoiler!

A potential free ride in college


The goal of Sanders' bills is twofold. The first bill seeks to pay 100% of the undergraduate tuition fees of college students, expand work-study programs, and help reform the student loan system, which has left Americans with a whopping $1.2 trillion in loans outstanding. This crippling debt can adversely affect graduates' pocketbooks, their ability to save, and even their long-term health via stress.A college education has become all but necessary to career advancement in the U.S., as employers are looking for a more specialized workforce. As the Pew Research Center noted last year, the median salary for a full-time millennial aged 25 to 32 with a bachelor's degree or higher was $45,000 in 2012 dollars. By comparison, a high school graduate was earning a median of $28,000 for full-time work in 2012 dollars. Over a lifetime, especially given workers' ability to save and invest, the difference is night and day.If undergraduate education in the United States were free, it would put this nation on par with a number of European economies -- such as France, Germany, and the three Scandinavian countries, Norway, Sweden, and Finland -- that offer free college education to their undergrads. Presumably, it would also incentivize students to learn high-demand skill sets, which could land them high-paying jobs.



What's unique about Sanders' proposals is how the free college education for undergraduates and improved community social programs would be funded.



As it's currently written, both bills "set a nominal tax of $0.50 on every $100 of stock trades on stocks sales, and lesser amounts on transactions involving bonds, derivatives, and other financial instruments." In other words, when you sold stock, you would owe $0.50 for every $100 of stock you sold. If you owned bonds or other investment vehicles, the amount you owe would be lower, because historically, the stock market offers the best long-term growth rate, and other investment vehicles have lower historical return percentages.



Think about this for a moment. For long-term investors who own stocks for years or decades at a time, the thought of paying a meager 0.5% tax on capital gains isn't all that bad. Long-term investors are already using time to their advantage and have likely compounded their gains with the use of dividend income. For this investor, a "Robin Hood Tax" will be of little consequence.



On the flip side, Wall Street high-frequency traders, day-traders, and even select short-term investors could get absolutely clobbered by such a tax. High-frequency trading, or HFT, works by trading large sums of money, sometimes in fractions of a second, and scalping pennies to net minimal but often repeatable gains. Sometimes gains of $100-$500 can be made hundreds of times per day thanks to computer software programs, and that profit certainly adds up over time.



However, introducing a 0.5% tax on stock sales could tip the balance away from HFTs, which can disrupt markets and increase volatility. The Robin Hood Tax also adds yet another reason for short-term traders to abandon the strategy of "timing the market" -- they already have to pay higher capital gains taxes than long-term investors.

I don't think it'll pass, but I like it.

I know my brah johnnyredstorm leans blue, but he gonna be against this

 

[fontaine]

So according to CRC...

Everybody should just waltz in and become engineers?

Lolwut?

Teachers? Accountants... Human resources people...

Nah... We dont need'em.






Y'all talking about taking responsibility when there are LAWs for predatory lending...

Stop pretending like everybody has to be as up to date and as smart as y'all.

And we get it Beezy. You're young and smart and made all the right moves..


BUT THAT'S THE ISSUE... Why can't you be regular and make regular mistake and still make it?

Why do you have to be a petrochemical engineer to maintain a decent lifestyle amd pay down your debt?




The same reason why the MBS crisis happened... Is what's going on with student koans...

Govt backs something... So people say "shiiieeeed... Gvt print money... I can do whatever I want now"

 

[RustyShackleford]

You too are perfect for each other

The **** errbody else, I got mine boys.

-Btw I went to a CC and have advocated CLEP in other threads too. But I'm not arrogant to act like I got all the answers

acting like I have all the answers? Giving an alternative and suggestion to make college affordable is having all the answers bet.

Oh and I helped 25 people graduate with jobs this year since I'm so selfish you don't know the half bruh. Keep guessing though.

I'm good on this topic I'm the "exception" so I can't give my opinion [emoji]128076[/emoji][emoji]127997[/emoji]

I'm sure you'll find another one to humble brah, and give your know-it-all opinion in soon

 

[crcballer55]

So what happens to the students in the interim while the "great awakening" takes place. Oh! and employers will suddenly lower their requirements instantly too I suppose?

**** a entire generation of kids, in the hopes that they slash education budgets?

And let's hope that banks don't try to step in and prey on these kids. I mean no chance of that happening

You wanna post a video talking about Obama's plan, without even acknowledge that your plan isn't a magic bullet in anyway either.

Sorry, but nothing magical or revolutionary happens overnight. The main difference between what I would propose and what's happening is the speed. It WILL happen and two generations are already being impacted because of it. Boomers can't afford to retire because they cosigned or took out parent plus loans for their kids and Millenials signed up for loans not knowing the terms or even how much it will cost!

Most college students literally have no idea how much they’re paying to go to school

And it's not that "I got mine". I would rather have the system cleaned up long before my kids get to college, so NO, it's not about me at all. I've been on the front seat of financial devastation both in my family as well as throwing people out of their homes. Desperate people will always be taken advantage of whether there is "regulation" or not. Our job as parents is to teach our kids to the best of our ability and help prevent them from destroying their life. Call it tough love, but I'm definitely going to let them fall on their butt but as long as I'm helping pay for school, I'm not going to allow them to borrow money. They will be required to work in school and apply for scholarships before getting there as their "job". I'm not letting them get in the same mess I was in.

So did I get mine? Ya, I guess. But not without a lot of mistakes. Will my kids get theirs? Yes, because we will prepare for school and require them to do the same.

 

[johnnyredstorm]

Robin Hood Tax: 

Spoiler: Warning: Spoiler!

A potential free ride in college


The goal of Sanders' bills is twofold. The first bill seeks to pay 100% of the undergraduate tuition fees of college students, expand work-study programs, and help reform the student loan system, which has left Americans with a whopping $1.2 trillion in loans outstanding. This crippling debt can adversely affect graduates' pocketbooks, their ability to save, and even their long-term health via stress.A college education has become all but necessary to career advancement in the U.S., as employers are looking for a more specialized workforce. As the Pew Research Center noted last year, the median salary for a full-time millennial aged 25 to 32 with a bachelor's degree or higher was $45,000 in 2012 dollars. By comparison, a high school graduate was earning a median of $28,000 for full-time work in 2012 dollars. Over a lifetime, especially given workers' ability to save and invest, the difference is night and day.If undergraduate education in the United States were free, it would put this nation on par with a number of European economies -- such as France, Germany, and the three Scandinavian countries, Norway, Sweden, and Finland -- that offer free college education to their undergrads. Presumably, it would also incentivize students to learn high-demand skill sets, which could land them high-paying jobs.



What's unique about Sanders' proposals is how the free college education for undergraduates and improved community social programs would be funded.



As it's currently written, both bills "set a nominal tax of $0.50 on every $100 of stock trades on stocks sales, and lesser amounts on transactions involving bonds, derivatives, and other financial instruments." In other words, when you sold stock, you would owe $0.50 for every $100 of stock you sold. If you owned bonds or other investment vehicles, the amount you owe would be lower, because historically, the stock market offers the best long-term growth rate, and other investment vehicles have lower historical return percentages.



Think about this for a moment. For long-term investors who own stocks for years or decades at a time, the thought of paying a meager 0.5% tax on capital gains isn't all that bad. Long-term investors are already using time to their advantage and have likely compounded their gains with the use of dividend income. For this investor, a "Robin Hood Tax" will be of little consequence.



On the flip side, Wall Street high-frequency traders, day-traders, and even select short-term investors could get absolutely clobbered by such a tax. High-frequency trading, or HFT, works by trading large sums of money, sometimes in fractions of a second, and scalping pennies to net minimal but often repeatable gains. Sometimes gains of $100-$500 can be made hundreds of times per day thanks to computer software programs, and that profit certainly adds up over time.



However, introducing a 0.5% tax on stock sales could tip the balance away from HFTs, which can disrupt markets and increase volatility. The Robin Hood Tax also adds yet another reason for short-term traders to abandon the strategy of "timing the market" -- they already have to pay higher capital gains taxes than long-term investors.

I don't think it'll pass, but I like it.

I know my brah johnnyredstorm leans blue, but he gonna be against this

I haven't traded in a few weeks but **** that **** all that law does is screw the little guy making a living day trading.

 

[crcballer55]

So according to CRC...

Everybody should just waltz in and become engineers?

Lolwut?

Teachers? Accountants... Human resources people...

Nah... We dont need'em.






Y'all talking about taking responsibility when there are LAWs for predatory lending...

Stop pretending like everybody has to be as up to date and as smart as y'all.

And we get it Beezy. You're young and smart and made all the right moves..


BUT THAT'S THE ISSUE... Why can't you be regular and make regular mistake and still make it?

Why do you have to be a petrochemical engineer to maintain a decent lifestyle amd pay down your debt?




The same reason why the MBS crisis happened... Is what's going on with student koans...

Govt backs something... So people say "shiiieeeed... Gvt print money... I can do whatever I want now"

You're actually more likely to retire wealthy on a teacher's salary than almost any other job

My point wasn't that everyone should be an engineer. My fault on that one. My point was that you should be wise when picking a major and deciding how much you're going to pay. There are certain majors that have almost no market value. Sociology, English, Performing Arts, Fine Arts, and Hospitality all have either terrible ROI or a focus that's so specific you BETTER land a job in that field because you won't be prepared for a whole lot more.

 

[capital sb]

I'm sure you'll find another one to humble brah, and give your know-it-all opinion in soon

Funny you have helpful information and don't share it in a thread that needs it most. But nah I won't share my opinion/suggestion anymore on here concerning these topics it's falling on deaf ears. Still don't see how suggesting ways for making college affordable is know it all but you got it.

 

[fontaine]

You're actually more likely to retire wealthy on a teacher's salary than almost any other job

My point wasn't that everyone should be an engineer. My fault on that one. My point was that you should be wise when picking a major and deciding how much you're going to pay. There are certain majors that have almost no market value. Sociology, English, Performing Arts, Fine Arts, and Hospitality all have either terrible ROI or a focus that's so specific you BETTER land a job in that field because you won't be prepared for a whole lot more.

Exactly

18 year olds... If you **** up your choice of college major... Your life will be hampered with debt..

Because we all know what we want to be at 18 years old.

Medicaaaah







I think we just have to disagree.

You feel its on people...

I feel it's on these colleges taking advantage of the govt. Loan system that's in place by charging crazy tuition

Old economy Steve, anyone?

Put CRC and beezys avatar in there.

 

[RustyShackleford]

So what happens to the students in the interim while the "great awakening" takes place. Oh! and employers will suddenly lower their requirements instantly too I suppose?


**** a entire generation of kids, in the hopes that they slash education budgets?


And let's hope that banks don't try to step in and prey on these kids. I mean no chance of that happening


You wanna post a video talking about Obama's plan, without even acknowledge that your plan isn't a magic bullet in anyway either.

Sorry, but nothing magical or revolutionary happens overnight. The main difference between what I would propose and what's happening is the speed. It WILL happen and two generations are already being impacted because of it. Boomers can't afford to retire because they cosigned or took out parent plus loans for their kids and Millenials signed up for loans not knowing the terms or even how much it will cost!


Most college students literally have no idea how much they’re paying to go to school





And it's not that "I got mine". I would rather have the system cleaned up long before my kids get to college, so NO, it's not about me at all. I've been on the front seat of financial devastation both in my family as well as throwing people out of their homes. Desperate people will always be taken advantage of whether there is "regulation" or not. Our job as parents is to teach our kids to the best of our ability and help prevent them from destroying their life. Call it tough love, but I'm definitely going to let them fall on their butt but as long as I'm helping pay for school, I'm not going to allow them to borrow money. They will be required to work in school and apply for scholarships before getting there as their "job". I'm not letting them get in the same mess I was in.

So did I get mine? Ya, I guess. But not without a lot of mistakes. Will my kids get theirs? Yes, because we will prepare for school and require them to do the same.

So someone else kids should have their world turned upside down, and their life put on a worst trajectory. So tuition can be hopefully lower for your kids get to college?

And you pushing this under the guise of tough love. Brah this is screwing over a generation plain and simple.

And Millennials screwing over Boomers?

That is a new one for me. How about the Boomers that let low skilled factory jobs gets sent overseas in droves on their watch, who supported deregulation that helped crashed our banking system, voted in presidents that wasted money on wars, made sure their benefits remained nice and plump while cutting the ones that could help the young, who held protested against universal healthcare while being on Medicare. And I could go on

The Boomers crimes against Millennials far exceed anything that Millennials have done to them. It is like a parent that abused you and molested you, complaining that you wrecked their car one time

 

[fontaine]

Boomers can't afford to retire because they cosigned or took out parent plus loans for their kids and Millenials signed up for loans not knowing the terms or even how much it will cost!

Stop trolling CRC. You better than that

 

[moderndarwin]

Our education system is reflective of our principles as a society. There is a reason American colleges are the best ranked ones in the world. We sacrifice the 99% for the 1%. The best and brightest will rise to the top. Our societal attitude says everyone should aim for that.

What it doesnt say is that isn't realistic and taking out huge debt to finance a delusional outlook is fiscal suicide. Our parents etc are all taight to tell us that we can be whatever we want to be. When in reality a parent ia better off telling a child to go to CC and a trade school and live within a reasonable means. Instead parents send kids off packing to schools with hopes of the Wolf on Wall St lifestyle awaiting them.

 

[fontaine]

Our education system is reflective of our principles as a society. There is a reason American colleges are the best ranked ones in the world. We sacrifice the 99% for the 1%. The best and brightest will rise to the top. Our societal attitude says everyone should aim for that.

What it doesnt say is that isn't realistic and taking out huge debt to finance a delusional outlook is fiscal suicide. Our parents etc are all taight to tell us that we can be whatever we want to be. When in reality a parent ia better off telling a child to go to CC and a trade school and live within a reasonable means. Instead parents send kids off packing to schools with hopes of the Wolf on Wall St lifestyle awaiting them.

I disagree.

Parents have their kids following their footsteps.

Go to college , make good grades, the rest will work itself out.

Only problem is dad had 3 offers in management when he graduated.

Son has a part time offer and $200 in cutlery to sell...

Because all the entry levelgigs require 2 years experience

 

[RustyShackleford]

I'm sure you'll find another one to humble brah, and give your know-it-all opinion in soon

Funny you have helpful information and don't share it in a thread that needs it most. But nah I won't share my opinion/suggestion anymore on here concerning these topics it's falling on deaf ears. Still don't see how suggesting ways for making college affordable is know it all but you got it.

-Allow students to take CLEP exams as their high school finals at a discounted rate

-Expand the number of CLEP courses currently available and develop a standardized training materials for each one

-Expand joint degree programs with community colleges and highschools.

-Allow kids to apply for private scholarships at the same time the fill out their Fafsa

-Work with tech companies too make online professional certificate programs in certain fields available on the low like Udacity offers (but cheaper). Work to have these be industry standard credentials. Kinda like it IT

-Require kids to pass exist exams to get their diplomas. Depending on the degree this could stiff. But at least employers know that even though a kid is graduating with a liberals arts degree and a sub 3.0 GPA, that they are certified in a certain number of core skills.

-If community college can't be free, at least make trade school free. Blue collar work really needs to come roaring back (and please fix the immigration system so their isn't so much distortion regarding wages and cost of projects)

-Add to that, huge focus on rebuilding infrastructure so their is a greater demand for these jobs.

-What esle? The buyback thing I mentioned early, to force employers to reinvest into their workers. Maybe that will drive more money into R&D, and on the job trading will become more prevalent. That will lend to relatively lower skilled workers hopefully getting hired.

I know I went of topic and I can keep going. But my entire point was not to disagree with your suggestions, but you argue against the notion that this is an easy that students just refuse to see. It really is systemic, and a lot of things gotta change for this situation to get better

All these things can be done, and I'm aware it will cost money, without dambing and entire generation in hopes we "wake up" like Crc hopes.

 

[crcballer55]

 

Boomers can't afford to retire because they cosigned or took out parent plus loans for their kids and Millenials signed up for loans not knowing the terms or even how much it will cost!

Stop trolling CRC. You better than that

Which part am I wrong about?

 

[fontaine]

Which part am I wrong about?

boomers can't retire because boomers got greedy and damb near collapsed the entire financial ecosystem.

Not because $30k in loans Jr took out...

 

[RustyShackleford]

^^^ That.

I also love how he tacitly absolves the Boomer that co-signed the loan of their mistake, but dumps on the kid that defaulted

Yeah, cause the 18 year is one who held a gun to pop's head.