Yeah...student loans are next

[silverlinkx2]

http://www.latimes.com/business/la-fi-collegedebt27-2008dec27,0,4636992.column?page=1&track=rss

An investigation last year by New York Atty. Gen. Andrew Cuomo found an "unholy alliance" between lenders and hundreds of schools across the country.

Charging more than a dozen lenders with wrongdoing, Cuomo cited a pattern of bribes to financial aid officers making decisions about which lenders would appear on school-preferred lender lists and "revenue-sharing" kickbacks -- in cash or products -- to schools that led their students to specific companies.

You should also check out this graph:

http://awesome.goodmagazine.com/transparency/007/trans007studentdebt.html

Wonder what an updated one looks like. Or one for private student loans.

 

[Kludge]

Obama gonna pay my rent, my gas, my food, my healthcare, and now he gonna pay my way through college!

 

[danberkeley]

Obama gonna pay my rent, my gas, my food, my healthcare, and now he gonna pay my way through college!

Obama gonna pay my TV bill!!

 

[silverlinkx2]

Obama gonna pay my rent, my gas, my food, my healthcare, and now he gonna pay my way through college!

Is that entirely necessary? There are people out there in that kind of debt but have every intention of paying it off....you know, people with degrees in engineering or medicine or law or something...not all of us were irresponsible borrowers for the sake of being irresponsible borrowers

 

[ArchPaul]

Absolute power corrupts absolutely. Our system is corrupt through and through.

 

[Kludge]

not all of us were irresponsible borrowers for the sake of being irresponsible borrowers

MSM was right. Consume! Consume! Consume, citizens!

 

[silverlinkx2]

MSM was right. Consume! Consume! Consume, citizens!

I don't know how you see education as consumption but whatever. The bothersome thing is I agree with just about every point that you make. I'm as Nihilistic as you are, but I figure that you only have one life to live and I would try to make the most out of it. Yes, I went into a ton of debt, but I planned on paying it off, but that's going to be difficult with inflation and crushing taxes.

 

[torchbearer]

I don't know how you see education as consumption but whatever. The bothersome thing is I agree with just about every point that you make. I'm as Nihilistic as you are, but I figure that you only have one life to live and I would try to make the most out of it. Yes, I went into a ton of debt, but I planned on paying it off, but that's going to be difficult with inflation and crushing taxes.

inflation makes it easier to pay off debt if wages keep up with inflation.
In fact, you can inflate your way out of debt.
Problem is... we are having price inflation and not wage inflation.
We are experiencing price inflation and wealth deflation.
This is the realization of the transfer of wealth that has been happening for the last two decades.

 

[Anti Federalist]

Obama gonna pay my rent, my gas, my food, my healthcare, and now he gonna pay my way through college!

Obama gonna buy me a new car.

 

[MrNick]

It's all snowballing and soon no one will be able to pay back jut about any debt. Bad credit for everyone, then how is Bush going to have his credit society?

 

[Kludge]

Obama gonna buy me a new car.

Awwwe yeaah, boiii!

Fixin da economy!
Tell u wut it mean 2 ME!
Mean I gettin new TV --
Buy American, muthafuckas!

(yuh, my album's goin double-triple platinum next week, bra)

 

[silverlinkx2]

thank you for your wonderful contributions

 

[Scofield]

I'm not going to lie, I would LOVE a bailout for my student loans.

I want to get the hell out of America for a while, and get away from the tyranny. I can't do that until I pay off my loans, so by all means, send that cash my way.

 

[Anti Federalist]

Awwwe yeaah, boiii!

Fixin da economy!
Tell u wut it mean 2 ME!
Mean I gettin new TV --
Buy American, muthafuckas!

(yuh, my album's goin double-triple platinum next week, bra)

pimp stylin' G

 

[Uriel999]

Damn, I wonder if Obama would pay off my Best Buy card for me? I still owe them a few bucks hundred bucks for a ps3!

 

[silverlinkx2]

I'm not going to lie, I would LOVE a bailout for my student loans.

I want to get the hell out of America for a while, and get away from the tyranny. I can't do that until I pay off my loans, so by all means, send that cash my way.

I'd like a country where I'm taxed only for absolute necessities (non-imperialist defense, justice, and emergency systems), can prosper with sound money and the job market is so good and there's so much competition that I can pay my mountains of debt like an honest man. Thankfully the crooks in charge have made absolutely sure that that can't happen.

 

[schiffstudent]

I'm not going to lie, I would LOVE a bailout for my student loans.

I want to get the hell out of America for a while, and get away from the tyranny. I can't do that until I pay off my loans, so by all means, send that cash my way.

Oh you can do that, it's not hard to get a mock document from a foreign university that states you are "enrolled" in classes there and therefore gives you a legal right to be in deferment from your student loans here in the U.S. It's not forever but I'm sure you could get away with 3 or 4 years of no payments.

As for private student loans, you guys shouldn't worry about the future of private student loans, it's officially dead. I have kick ass credit (720) and I can't get a any student loans at all now. In the last 2 months I have applied for at least 50 of them all with rejections.

 

[silverlinkx2]

Oh you can do that, it's not hard to get a mock document from a foreign university that states you are "enrolled" in classes there and therefore gives you a legal right to be in deferment from your student loans here in the U.S. It's not forever but I'm sure you could get away with 3 or 4 years of no payments.

As for private student loans, you guys shouldn't worry about the future of private student loans, it's officially dead. I have kick ass credit (720) and I can't get a any student loans at all now. In the last 2 months I have applied for at least 50 of them all with rejections.

With or without a cosigner? How old are you? The bank I was using (Keybank) took a bailout and then stopped making private student loans altogether, so I probably won't get to finish school now, I was originally scheduled to finish this coming up July. Sweet!

 

[schiffstudent]

With or without a cosigner? How old are you? The bank I was using (Keybank) took a bailout and then stopped making private student loans altogether, so I probably won't get to finish school now, I was originally scheduled to finish this coming up July. Sweet!

With and without, I used my wife as a cosigner, but her credit isn't as good as mine, so I've been declined on both. I'm 28 and have very established credit. I'm enrolled now and I'm totally depending on stafford loans to finish school over the next 2 semesters. If for some reason I don't get those loans or if they are significantly cut, then I'm out of this country very soon. I'm really worried about this..

 

[ghengis86]

uh, won't these student loan bailouts only bailout the companies that hold the loans i.e. you still have to pay your loan back?