Ben Bernanke Says That His Son Will Graduate With $400,000 Of Student Loan Debt

[The Northbreather]

Answer to the first sentence of the article.......Me.

http://www.latimes.com/business/money/la-fi-mo-student-loan-delinquencies-20120305,0,3862067.story

Edit: here's the original link from a different article that didn't show up
http://www.yolohub.com/economy/ben-...ill-graduate-with-400000-of-student-loan-debt

 

[heavenlyboy34]

Is there an article link here that I can't see?

 

[WilliamC]

So in addition to being a terrible choice for FED Chairman Bernake is also a terrible father?

I mean who in his position wouldn't pay for their children's college education?

Or do bankers simply eat their own young?

 

[MRoCkEd]

Wtf? Did he borrow his way through a top undergrad and law school?

EDIT: Actually, Med School

Bernanke, in his exchange with lawmakers, added a personal dimension to the student loan issue, saying that his son in medical school was expecting to owe $400,000 when he graduates.

 

[UMULAS]

GUYS IT'S OK. HE CAN GET MONEY FROM THE FED TO PAY HIS DEBT.

 

[oyarde]

If that is true , that is messed up and I do not feel sorry for those two , at all!

 

[Esoteric]

That's because that he knows that's how you get ahead in a keynsean system. Cheap Credit is King.

 

[BlackTerrel]

Debt isn't always bad. I have a buddy who is neuroseurgeon resident and when he is done he expects to make 850K/year. He'll have 500K or so in debt when he's done but in that situation it is worth it.

The people who go to University of Phoenix and graduate with 100K debt are far worse off than the medical school kid (with a rich ass father) who are 400K in debt.

You can actually do something with a medical degree.

 

[fletcher]

Bernanke knows that he will be able to pay that off in a decade for less than the cost of car. He probably recommended it to his son.

 

[onlyrp]

isn't that petty change for him to bail out?

 

[Jordan]

Debt isn't always bad. I have a buddy who is neuroseurgeon resident and when he is done he expects to make 850K/year. He'll have 500K or so in debt when he's done but in that situation it is worth it.

The people who go to University of Phoenix and graduate with 100K debt are far worse off than the medical school kid (with a rich ass father) who are 400K in debt.

You can actually do something with a medical degree.

That's a lot of coin, but I guess it's what you'd expect from a career that requires 14 years of study, residency, and what not. Everyone else you know in college leaves at 22 - you're done a decade later.

 

[QE Is Theft]

One word: propaganda.

The Bernank probably has billions in XYZ accounts in XYZ countries all over the world.

 

[The Northbreather]

Thanks to the person who fixed the link

 

[phill4paul]

No problem. Student loan bail-out and forgiveness on the horizon. Who the hell will bitch about it. Students AND parents are gonna think the government is giving them a freebie.

 

[oyarde]

Debt isn't always bad. I have a buddy who is neuroseurgeon resident and when he is done he expects to make 850K/year. He'll have 500K or so in debt when he's done but in that situation it is worth it.

The people who go to University of Phoenix and graduate with 100K debt are far worse off than the medical school kid (with a rich ass father) who are 400K in debt.

You can actually do something with a medical degree.

I do not guess that a degree at University of Pheonix would cost more than a few thousand , and you could probably pay as you go if you have a job ?

 

[tbone717]

I checked their site. A BA in Business will cost you about 60K

 

[RickyJ]

Who cares to be honest. Ben Bernanke should not have had any kids, he should be rotting in jail.

 

[angelatc]

GUYS IT'S OK. HE CAN GET MONEY FROM THE FED TO PAY HIS DEBT.

Eh, his old man will just inflate it away for him.

 

[angelatc]

I do not guess that a degree at University of Pheonix would cost more than a few thousand , and you could probably pay as you go if you have a job ?

University of Phoenix is insanely expensive.

 

[oyarde]

I checked their site. A BA in Business will cost you about 60K

That sounds high , what else do they have ? I was kind of hoping to buy myself a law degree or PHD when I retire ( make the envelopes look better on my Foundation ) I paid 38K for my first house .$900 for my first car ( one owner , 82,000 miles ) . I never paid for any school , my employers paid for it. I did get to see the prices though.