Yeah...student loans are next

[Isaac Bickerstaff]

I made the hard decision and now I lose twice. Yea, I'm a little cynical, but I live in this fractional reserve system too--without being in a heap of debt.

 

[silverlinkx2]

Good for you. No seriously. I applaud you for staying out of debt. But just bc someone is in debt doesn't make them a bad person. I know of someone whose brother had to declare bankruptcy because he accidentally cracked his head open and racked up 150 gs in medical bills. Or someone like me who went to the only college who gave him a scholarship and still ended up in 6 digits worth of debt anyway because everyone told him that college was the only way to succeed in life.

See what I'm getting here? We're all in this together. So I suggest you stop blaming other people who may or may not have made irresponsible decisions for the situation that this country is in and start looking to the real root of the problems. The government, the banks, the people in Congress, the Fed and anyone else who has a hand in the Ponzi scheme we call the US economy, because as much as you want to blame those "idiotics" for ruining this economy, my friend a bunch of people who bought a little too much house than they could afford did not ruin this economy.

The Fed did by creating bubbles. Banks did by making extremely risky loans and then packaging them up and selling them off to investors who thought they were making a good investment. Government did by subsidizing mortgages and always creating supply and demand even when there shouldn't have been.

I understand your anger. Believe me, I do. The bank I've been using for the majority of my loans, Keybank, got a federal bailout and then stopped making student loans altogether. I have to pay them four times now. Principal, interest, increased taxes, and inflation. If you're that worried about the economy tanking, put all that money you've undoubtedly saved up because you're such a responsible person into gold and other commodities.

Then what else do you have to worry about?

 

[schiffstudent]

Ease the burden? How does government ever ease the burden? All it is doing is shifting the burden from those that are too stupid or lazy or too corrupt to keep their finances in order to those of us who have worked very hard to stay out of debt.

It is a classic case of the strong being forced at gunpoint to support the idiotic. Before, I was just mad at the government for enabling. Now I am just plain pissed at those who are lining up at the government feeding trough for my money. Assholes.

God damn people defaulting on their mortgages deserve to starve under a bridge, and for heaven's sake, if you can't pay for your own damn student loans, you deserve to have your head ripped open and have what's left of your brain repossessed.

Get over it and stop pissing and moaning, we are all screwed in this economy! The boat is sinking, grab what you can while you can, don't worry about fixing the hole or how important you were to the crew and the captain, it doesn't matter anymore.

 

[Isaac Bickerstaff]

OK, calming down a bit now. I have been jumping up and down screaming about this damn monetary policy for a decade now since I dropped out of college (debt or no degree). The bailouts got me angry, but the possibility of people taking on debt just so they could get bailout money pushed me over the edge.

I have a friend that sells foreclosure properties and swears that the vast majority of the people in bad debt have done it to themselves. Very soon this will not be the case any longer, but right now, the majority of people with debt problems should not have their bad decisions subsidized.

Yes, we have always needed some people to default on their loans just to keep the system going, but is it our job to subsidize someone who didn't understand the system?

which government agency do you work for?

Oh, and I am an organic diversified farmer that does not accept 1 penny of farm bill government cheese. In the coming years (great depression with 10,000% interest), raw materials production will be safer than any precious metal--if the police state doesn't murder me for the land.

government agency **shakes head**

 

[silverlinkx2]

I have a friend that sells foreclosure properties and swears that the vast majority of the people in bad debt have done it to themselves.

That's like the drug dealer blaming the junkie for being addicted

 

[AutoDas]

This ad was on the page

How my boy Obama helped a brotha out and came thru wit a thick $3,300 check that a get every month.

 

[silverlinkx2]

The hell is that from?

 

[LiveFree79]

The hell is that from?

6 digits worth of student debt? Come on dude....regardless of what anyone told you what the hell were you thinking?

 

[silverlinkx2]

6 digits worth of student debt? Come on dude....regardless of what anyone told you what the hell were you thinking?

That college is the most important thing in my life and that I'll never aspire to anything unless I finish it and that I won't have any job security whatsoever unless I do?

You think I'm the only person in that situation but I know several, several people in that same situation as me.

It's not like I started out life and said "I think I'll borrow 125 grand at variable interest rates that can go up as high as 18% and have them haunt me for 20 to 30 years".

It happened. I went to school, I didn't have enough money, I borrowed and struggled and borrowed and struggled and wound up where I did today. Happened to a lot of people. I had an enormous amount of pressure on me to go to the best school possible and succeed.

If I could have done it all over, I never would have set foot on a 4-year college campus unless I wanted to be a doctor or a lawyer. It's a scam.

 

[schiffstudent]

That college is the most important thing in my life and that I'll never aspire to anything unless I finish it and that I won't have any job security whatsoever unless I do?

You think I'm the only person in that situation but I know several, several people in that same situation as me.

It's not like I started out life and said "I think I'll borrow 125 grand at variable interest rates that can go up as high as 18% and have them haunt me for 20 to 30 years".

It happened. I went to school, I didn't have enough money, I borrowed and struggled and borrowed and struggled and wound up where I did today. Happened to a lot of people. I had an enormous amount of pressure on me to go to the best school possible and succeed.

If I could have done it all over, I never would have set foot on a 4-year college campus unless I wanted to be a doctor or a lawyer. It's a scam.

Wow, that's quite a bit of debt. I've seen higher but they were attorneys. What school did you go? I go to Indiana University and an average semester there is around $4000. But I understand if you're living fully off student loans the number can climb pretty fast. I always worked and studied half time for the past 5 years, which has made school drag on and on, but I only have about $18,000 in debt, which is good. I just quit my job so can go full time and finish in the next 6 months. Then maybe I can some $$$ for grad school before the whole shit house goes up in flames.

 

[silverlinkx2]

Wow, that's quite a bit of debt. I've seen higher but they were attorneys. What school did you go? I go to Indiana University and an average semester there is around $4000. But I understand if you're living fully off student loans the number can climb pretty fast. I always worked and studied half time for the past 5 years, which has made school drag on and on, but I only have about $18,000 in debt, which is good. I just quit my job so can go full time and finish in the next 6 months. Then maybe I can some $$$ for grad school before the whole shit house goes up in flames.

This is my story:

http://www.ronpaulforums.com/showthread.php?t=168400

If you want the abridged version, I was out of the house at 15, applied to a lot of schools and the only school that gave me a scholarship was a private school in Florida. I went, didn't have enough money for books or tuition because I didn't know how to calculate financial aid, natural disaster ensues, I flunk out. I should have left right then and there but I didn't. I thought I would shame my folks and my family by dropping out so I didn't tell them, I just stayed and borrowed. It also didn't help that tuition increased from below 25k an academic year to over 30 per year in the course of 4 years. Everything got extremely expensive, interest accrued over a while, it took forever for me to get anywhere.

I take complete responsibility for this, but damn I'm tired of beating myself up and blaming myself all the time. How about we start putting some responsibility on parents for shipping kids off to extremely expensive schools that in all seriousness do little to help your career, you learn most of your skills on the job. Hell, I've since decided that software dev probably isn't the way to go, I'd rather be a traveling network engineer, and while most jobs require a CS degree, the most qualifying thing I've seen in the listings has been to get your CCNA.

Also blame government for subsidizing college, blame banks for easy credit, blame the Fed for bubbles and inflation.

 

[silverlinkx2]

Wow, that's quite a bit of debt. I've seen higher but they were attorneys. What school did you go? I go to Indiana University and an average semester there is around $4000. But I understand if you're living fully off student loans the number can climb pretty fast. I always worked and studied half time for the past 5 years, which has made school drag on and on, but I only have about $18,000 in debt, which is good. I just quit my job so can go full time and finish in the next 6 months. Then maybe I can some $$$ for grad school before the whole shit house goes up in flames.

Also, being a lawyer isn't necessarily a license to make boatloads of money either, I've read some horror stories on studentloanjustice.org and things like that were people said don't worry about going into debt, you're gonna be a lawyer, you'll make it all back.

And now they're on the verge of bankruptcy D:

 

[schiffstudent]

This is my story:

http://www.ronpaulforums.com/showthread.php?t=168400

If you want the abridged version, I was out of the house at 15, applied to a lot of schools and the only school that gave me a scholarship was a private school in Florida. I went, didn't have enough money for books or tuition because I didn't know how to calculate financial aid, natural disaster ensues, I flunk out. I should have left right then and there but I didn't. I thought I would shame my folks and my family by dropping out so I didn't tell them, I just stayed and borrowed. It also didn't help that tuition increased from below 25k an academic year to over 30 per year in the course of 4 years. Everything got extremely expensive, interest accrued over a while, it took forever for me to get anywhere.

I take complete responsibility for this, but damn I'm tired of beating myself up and blaming myself all the time. How about we start putting some responsibility on parents for shipping kids off to extremely expensive schools that in all seriousness do little to help your career, you learn most of your skills on the job. Hell, I've since decided that software dev probably isn't the way to go, I'd rather be a traveling network engineer, and while most jobs require a CS degree, the most qualifying thing I've seen in the listings has been to get your CCNA.

Also blame government for subsidizing college, blame banks for easy credit, blame the Fed for bubbles and inflation.

That sucks man, but you can't live in the past. How long to you finish your degree now? I do think you should definitely find a country where you'd like to live so you can flee this place after you get your degree.

 

[silverlinkx2]

I finish this year, July if things go really well. I would like to be a travelling network/infosec engineer, doing IT audits and writing scripts whenever, things of that nature. I think those types of jobs pay well anyway, and I hate being stuck in one place for long periods of time.

I think that once I get my finances in order I might go to South America or the Middle East. Also, goal for 2009, start learning Spanish/Arabic

 

[schiffstudent]

I finish this year, July if things go really well. I would like to be a travelling network/infosec engineer, doing IT audits and writing scripts whenever, things of that nature. I think those types of jobs pay well anyway, and I hate being stuck in one place for long periods of time.

I think that once I get my finances in order I might go to South America or the Middle East. Also, goal for 2009, start learning Spanish/Arabic

You can live for peanuts in Colombia and study Spanish there. And no you won't get kidnapped, I've lived there, my wife's from there, it's beautiful. I'll be based there by August or we have been thinking seriously about looking at Costa Rica which is a stones throw away from Colombia.

 

[silverlinkx2]

Haha, my ecuadorian friend just came back from Columbia the other day, he said Columbian women are the best in the world

I can't abandon my family and my friends however. As much as I feel like leaving, my dad is really struggling and the only thing my mom seems to live for anymore is her children

God damn you, government. God damn you.

 

[MrNick]

Can't they just garnish wages on students loans, credit cards and houses when people default?

 

[josephadel_3]

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.

Where you gonna go instead, Antarctica? Tyranny is everywhere.

 

[jkm1864]

I went to school a lifetime ago. I was from a poor family that was seperated and was unable to get financial aid. I had to take out loans to even goto school because the fucktards considered both of my parents income even though they were seperated. Long story short I fucked off and didn't even graduate because working 40+ hours a week and going to school just doesn't even work out. I farted around for a few years and then started working offshore as a navigation specialist and a marine surveyor plotting out pipelines and crap. I made 111k last year and whats funny is I made more my first year than what the average family makes in one year. So college is a damn myth and You will not be given riches for going. The majority of people out there making 100k a year or more are generally people like me not the college grads. So forget college get a trade or find a job most people do not want at all. Do You realize most of the captains on these huge tankers make 250k or more just to work half the year .... Hell most stinking boat captains make 300 a day and some make 750 a day that I know ..... all that for possibly 2 years of sea time and several tests ..........

 

[jkm1864]

oh yes they due garnish Your wages if You go into default because they sure as hell took 300 dollars a month out of mine for like 6 or 7 years .... The scum bags even asked me if I wanted to refinance when I only owed like a thousand dollars.