Another Bubble About To Go … POP!
STUDENT LOAN DEBT COULD HIT $3.3 TRILLION BY 2024 By FITSNEWS || This website has written on sevYou must Subscribe or log in to read the rest of this content.
STUDENT LOAN DEBT COULD HIT $3.3 TRILLION BY 2024 By FITSNEWS || This website has written on sevYou must Subscribe or log in to read the rest of this content.
94 comments
If you are a minority or an illegal you wont have to pay them back!
You will after you get amnesty. And that’s coming in the Boehner McConnell Graham McCain Rubio Immigration Reform bill of 2015. Also known as Welcome Mi Compadre.
Simply untrue.
shhhh…don’t bust his bubble…
Prove it.
Why don’t you. I’m not the one asserting that a minority or illegal (who can’t qualify for funds) don’t have to pay them back. Bless your stupid, uninformed heart.
There’s always the GI Bill too for those looking for gov’t to pay the college bill.
“Why do they always send the poor?”
They are easily bribed, it’s sad.
Proof?
Your website is terrible. In both IE11 and Android’s Google browser your site rarely loads correctly and is very slow. You need a new WebMistress…
Or has Trikki Nikki been busy on other fronts…. Hmmm…
Quit using shit and you might have better luck.
That’s what she said …
… to T-Rav!
Chrome and Firefox work quite well on both platforms. Who uses IE anymore?
Have to say on mobile it’s slow as crap compared to other sites. I’m thinking that’s caused by Disqus but I could be wrong.
Didn’t he just hire Karl (Marx) to rectify the many deficiencies???…That result will be predictable…LMAO….They feigned divulging my peronal information…because I BEECH slapped them w/ truth so hard…
FITS always gave Nancy Mace credit…I guess now that he has ruined her political career by association…his site is left to its own devices…and Karl ain’t no Mace….
PS: I got some big news coming in regard to SCPSD…stay tuned… (: …FITS will be irrelevant…
You should hire someone to rectify your deficiencies, although I guess that would be akin to asking someone to drain the water out of the ocean with nothing but a coffee cup.
…or teaching a raccoon how to play checkers.
Uh, both of those can be done. How about, akin to getting GT laid by a living being.
Of the human variety?
Please, I’m talking anything breathing and with an orifice.
It isn’t a bubble (that generally refers to overappreciated assets) and it can’t burst because the only way most folks can discharge the debt is death.
It would be nice if the republicans would quit blocking any help with student loans. Proposing legislation offering relief from student loan debt would help the GOP court the younger demographic they been losing for decades.
You’re literally advocating that the GOP buy votes with taxpayer money. This is why I’ve lost hope for political solutions to America’s problems.
Tuition has increased faster than the rate of inflation because of easy access to government (taxpayer) money. But don’t expect to learn that in economics class at your state university.
Helping people with student loans to offset policy decisions that helped put them there =/= buying votes. If you really believed that, you should’ve lost hope whenever the Republicans decide to keep throwing MOAR money at defense.
I also oppose throwing more money into “defense”. The reason I lost hope is not because politicians and their cronies exist to fleece the taxpayers, it’s because ignoramuses such as this guy like it this way. They want it this way, and will vote to keep it this way.
Yeah, you don’t know what literally means.
Exsqueeze me? Tuition has risen faster than inflation because you brilliant “shrink the gov’t until it’s the size of a bathtub” types decided to continually reduce the state’s dollars to their public colleges and universities. The percentage of state tax funding for these schools is now so low that it is becoming difficult to call them “state” schools anymore.
There so much idiocy in your post that I can’t address it all, but I love this analogy you make because it infers that gov’t is the size of an ocean in context:
“Tuition has risen faster than inflation because you brilliant “shrink the gov’t until it’s the size of a bathtub” types decided to continually reduce the state’s dollars to their public colleges and universities.”
Since you don’t have a clue, I’ll give you one (it is Christmastime after all): Grover Norquist. In that same spirit, I’ll give you another one: I didn’t get it quite right. It is : He (Norquist) has been noted for his widely quoted quip: “I’m not in favor of abolishing the government. I just want to shrink it down to the size where we can drown it in the bathtub.”
Exsqueeze me? Tuition has risen faster than inflation because you brilliant “shrink the gov’t until it’s the size of a bathtub” types decided to continually reduce the state’s dollars to their public colleges and universities. The percentage of state tax funding for these schools is now so low that it is becoming difficult to call them “state” schools anymore.
Nah, the GOP is pretty much locked into the southern and midwest angry white male demographic.
Luckily, they’re dying off faster than they can procreate. Except the Duggars, but their kids (especially the younger ones) are a bit dumb. Diminishing returns, I guess.
They procreate faster than homosexuals. That’s a fact.
“It would be nice if the republicans would quit blocking any help with student loans.”
The free shit army will win eventually.
I borrowed money to finish college. I had to, because I did not have Daddy to bankroll a 4-year drunk and smoke fest, like my leftwing classmates.
I graduated when Reagan was president. The economy was roaring and I paid it back in a year and a half…by doubling and tripling up. It is a great program. People w/ confidence in the American Way will, and should, bank on themselves…
As it is now: the economy SUCKS. You can bust your butt to get a degree..but there are NO JOBS, because the president POS has bankrupted the country…
Obama is running around crucifying white people, persecuting the EARNERS using the IRS…and using our money to pay illegals and lazy deadbeats to use food stamps and exist on welfare…
The worst part of liberalism is that it takes a while for the Dumb@$$#$ paid by it…to starve…But in the end, it always crashes on itself…as a lot of these IGNORANT F*#k college Democrats should be figuring out, if they were not so Stupid…
You finished college? Which one?
Mama T University, she even let him color the degree in crayon and hung it on the fridge.
He paid back his “loans” via Mama T withholding his allowance, likely paid for via SSI.
I really want to know. For real.
I want to say he hinted around at it being USC. Not sure though.
I recall him saying he studied Germalism at USC – correct. He / she was part of the Ima Quee Er fraternity.
Judging by the lack of writing ability, I guessed it was USC. Is everyone involved with FitsNews a USC grad?
Another FINE USC graduate…lulz.
Have you read that tripe he calls a “blog”? “Journalism”..indeed.
It reads about 2 steps below what Taylor on this site provides.
Do you frequent SCPSD?
Don’t know what that is?
Find out, and then ask personal information.
Sounds fishy. No thanks. I guess you made it up.
You, unlike Fits, can’t even use your real name to blog with? Shit son, you suck Fits’ teat to get a few hits along the way, too? Pitiful, just fucking pitiful…
Lulz…does anyone “frequent” SCPSD?
Please, don’t use SC as an example for the rest of the country. Sure the economy sucks there and you guys are content with working for peanuts, but other places are doing fine and making a decent wage. You keep electing the same people and wonder why things keep sucking.
The worst part of liberalism is
…doling out money to red states whose dumbass political views keeps them broke and stupid and tries to infect the rest of the nation?
GrandTango is the perfect example of a typical South Carolinian white male. Fucking perfect.
If you graduate with a marketable degree, anyone can get a job.
I’d suggest that if you renege on your commitment to repay your student loan, you’re scrubbed from your alma mater’s list of graduates. If you commit to purchasing and repaying a house or car loan and you cannot, in most cases, you don’t get to continue to live in that house or drive that car. Why should an education be any different?
How about we make education as cheap as possible or even free. Are you fucking retarded?
Sorry, only Baby Boomers get cheap higher ed, the rest of you whipper snappers can pay up or hit the bricks.
Baby boomers seem to be the most out of touch with how much college costs today.
But yet they are the ones paying for their kids education.
Seems…odd that would be true.
Lol at the thought of baby boomers paying for their kids education.
College courses on youtube(or that style format, a la Khan academy) is what’s going to eventually kill off the evil/greedy/statist college system eventually.
The last card they have left to play is accreditation. Once the market puts the final knife is the “value” of accredited degrees that are still worthless even that state enforced monopoly will drop…just like Uber and taxi medallions.
Even MIT knows it’s coming, partially the reason why they put their curriculum online for free. (there’s other reasons, but that’s one)
heh..do you want your brain surgeon or your bridge builder to have graduated from “Kahn Academy”?
That’s a good point, but who says they can’t learn the basics over the internet and then move straight to an internship style hands on experience?
I don’t think anyone should discount what the internet is going to do long term for learning/education.
Think about it this way, if you had a blockbuster movie budget to produce a physics class, how good could you make it?
They only need to sell tickets at $7 a pop for a good movie….so naturally a course that is well done even though a much more limited in viewership really might someday only cost $100 and be much better than some graduate student droning boringly to the incoming class so he can finish his dissertation.
That would be an improvement for some of them.
Why should an education be any different?
Because car loans and mortgages are types of debt that can be dismissed through various means, including bankruptcy. Student loans cannot be dissolved as such.
Also, did you stop to think that zapping someone’s diploma for non-payment might also zap that person’s earning potential, which would make it even harder to collect on the debt?
On the other hand, if John Doe ends up having to work at Starbucks because his degree “vanished,” he might get his car repossessed and get forcibly evicted from his home by the bank, thus freeing him from his other financial obligations…
I think a lot of college grad debtors would gladly trade their worthless art history degree to be absolved from their student loans.
Making student loans survive bankruptcy has created an entire class of debt slaves that I don’t think was ever intended.
Trade in their liberal arts degree? But those are worth their weight in gold!
Shit screen name, shit comment, shit for brains…starting to notice a pattern.
Same old witless comments out of a witless fool. Many things I say on here are in jest, you don’t seem to function very well cognitively.
WaPo – Nearly 30 percent of college students who took out loans dropped out of school, up from fewer than a quarter of students a decade ago, according to a recent analysis of government data by think tank Education Sector. —-
Others get degrees that prove worthless for getting a job.
It would not be so bad if they really got an education. All that some of them get is a degree.
Very true. A trip to a 4 year party so their daddy will foot the bill for their sports car. Graduate, move home and pretend like they’re educated while they wait tables at the local 2 steak house.
I thought this story was going to be on Clowney’s NFL career.
‘cept that bubble has already popped.
+1
If it didn’t involve football, most South Carolinians would not have any idea what a college or university was.
Figures the Gamecocks you hate the most are the ones who never lost to Clemson.
There really should not be this many people in default. Imo, the income based repayment plans that are based on 10% of your AGI are a stopgap measure to allow graduates to live normal lives in spite of their mistakes and repay some of what they owe. That is a short term solution that will be necessary for this generation of graduates caught between outrageous tuition inflation and a terrible job market.
The long term solution will be to only give student loans to people majoring in areas that show a strong chance for repayment and/or people who can show they will have xyz job lined up paying xyz amount upon graduation. Whether this risk/benefit analysis will be done by the government or a private company, it doesn’t really matter to me. The only way to stop colleges from letting anyone in with a pulse, building millions of dollars worth of unnecessary buildings, hiring additional administrators, and creating ever more worthless degrees is to dry up the spigot of money.
Right now, colleges have literally no incentive to do anything but grow more. Students can always borrow more to cover the gap. If there was not unlimited student loans available, colleges would feel the crunch and have to either lower tuition or go under. The current higher education model in this country is unsustainable. If it continues this way, we’ll be nothing more than a nation of highly educated debtors that were dumb enough to pay $200k in college tuition to qualify for a job as an administrative assistant.
??? Sorry, not used to reading things that make sense here. Thank you.
The long term solution will be to only give student loans to people
majoring in areas that show a strong chance for repayment and/or people
who can show they will have xyz job lined up paying xyz amount upon
graduation.
They also need to refuse loans to students going to colleges whose degrees aren’t worth crap, especially the for-profit ones that have mastered sucking every last red cent they can from students via financial aid.
Unfortunately, I see a crapton of lawsuits resulting from this “discriminatory” behavior. Besides, who cares if they can’t pay for their loans anyways? Uncle Sam’s got their back if it hits the fan.
Absolutely they do. Imagine if anyone could get an unlimited loan to buy any house you wanted, regardless of the ability to pay or the quality of the house. Literally every house’s value would skyrocket overnight because anyone can afford any house they want. The government is basically paying for the Biltmore house but getting a ramshackle garbage heap in return.
“Whether this risk/benefit analysis will be done by the government or a private company, it doesn’t really matter to me.”
Gov’t has created the problem via loan guarantees, and your solution is yet another gov’t program to do what they should have done in the first place….that’s brilliant.
It should matter to you who does the risk/benefit analysis…as gov’t can’t obviously ever do it correctly and they are risking taxpayer dollars. If the private sector does it, the risk of failure is theirs alone.
“If the private sector does it, the risk of failure is theirs alone.”
What country have you been living in since 2007?
Your non sequitur fails.
I’m being moderated.
This story highlights a classic failure of American society. Instead of investing billions and billions in our cozy contracts to defense contractors, we should be structuring a federal student loan program similar to Australia’s whereby students get to go to college and then only start paying back the loans on a percentage basis when they get a job that makes a certain wage allowing them to do so without crippling their finances.
Does anyone know how much monies were spent lobbying the Federal Government this year? A colleague of mine recently told me he read that over $ 3.2 TRILLION was spent this year alone lobbying our 435 Congress people and our President and Vice President. I asked him to cite his source and I don’t recall where he obtained this information. If true, where does that money go, and why can’t it be used to retire student debt?
Colleges and universities in Germany are tuition-free, even for foreigners.
Fits, you gloss over one interesting fact that really highlights just how secure theses debts actually are. If you default on a federally backed student loan you lose your right to many benefits from the feds thatba lot of people don’t realize. E.g. SS. So a long term default on say $27k in undergraduate loans would ultimate SAVE the feds about $2-3 hundred K or more in the long run. Just a thought. I’ll call this the significant savings bubble…
Except that a default on student loans would cause the student that defaulted basically to drop out of the economy for the most part. No car loans, no mortgages, no credit cards, lawsuits, bank accounts frozen, and on and on literally until the debtor dies.
Eliminating the atavistic, superannuated, positively medieval practice of tenure would be a very modest and rational step in reducing obscene college tuition costs…
Why did Cemocrats nationalixe the student loan industry as part Obamacare legislation, and to what effect?
as a person who got scholarships and paid his way through college and finished with only about 5k in debt, i really would feel discriminated against if all of a sudden student loan debt was repaid. can i get my 5k back?
also student debt cant be compared at all to the sub prime mortgages. there is no asset for the bank to seize and there is no bankruptcy that absolves you of student debt.
what the fuh…is in that bubble……a chicken being tortured under glass?
when I was in college, and grad school, tuition was about 2 months of rent for what a downtown apartments or condos in Charleston or Greenville go for today….I feel sorry for those who borrow but caveat emptor. They signed on the line.