25 years old and deep in debt

[garbon]

No, we should probably draw some boundaries.

And of course, I think not only tuition costs but also the setup of student loans are out of control in this country. However, personally the collective Seedy/Ide moan is more tiring.

[Jacob]

And of course, I think not only tuition costs but also the setup of student loans are out of control in this country. However, personally the collective Seedy/Ide moan is more tiring.

I was collateral damage   

[HVC]

I don't like the idea of socializing peoples mistakes by making student loans dischargeable. especially not art and history majors mistakes. dirty hippies

[Ed Anger]

Get a job hippies!

[Ideologue]

I don't like the idea of socializing peoples mistakes by making student loans dischargeable. especially not art and history majors mistakes. dirty hippies

That's not what BK discharge ordinarily does.  BK distributes losses between two private actors.  It's just the fed guarantee (and the fact the fedgov is originating most current loans) that make this a "public" issue.

However, the best reason for allowing the possibility of discharge is that it forces lenders to actually look at what they're lending for.  Given that public funds are being misused, permitting loans to be issued without any underwriting standard is actually unpatriotic.

[HVC]

Get a job hippies!

they could, if they picked a better major

[Ideologue]

Get a job hippies!

Give them jobs, Boomer.

[HVC]

I don't like the idea of socializing peoples mistakes by making student loans dischargeable. especially not art and history majors mistakes. dirty hippies

That's not what BK discharge ordinarily does.  BK distributes losses between two private actors.  It's just the fed guarantee (and the fact the fedgov is originating most current loans) that make this a "public" issue.

However, the best reason for allowing the possibility of discharge is that it forces lenders to actually look at what they're lending for.  Given that public funds are being misused, permitting loans to be issued without any underwriting standard is actually unpatriotic.

they'd just charge more interest. shareholder value and what not.

[Ideologue]

I don't like the idea of socializing peoples mistakes by making student loans dischargeable. especially not art and history majors mistakes. dirty hippies

That's not what BK discharge ordinarily does.  BK distributes losses between two private actors.  It's just the fed guarantee (and the fact the fedgov is originating most current loans) that make this a "public" issue.

However, the best reason for allowing the possibility of discharge is that it forces lenders to actually look at what they're lending for.  Given that public funds are being misused, permitting loans to be issued without any underwriting standard is actually unpatriotic.

they'd just charge more interest. shareholder value and what not.

So?

Anyway, in a perfect world, the Dept. of Education would assume far more responsibility and, based on BLS statistics, establish price caps for tuition and quotas for degrees.  You still want your basketweaving degree, you can try to get a private, dischargeable loan, that won't exist because shareholder value is not raised by giving somebody money in exchange for an agreement that they can and will renege upon.

Prediction: sustained double-digit GDP growth by year five.

[Jacob]

I don't like the idea of socializing peoples mistakes by making student loans dischargeable. especially not art and history majors mistakes. dirty hippies

Why not?

[Savonarola]

they'd just charge more interest. shareholder value and what not.

Which is why the idea is politically unfeasible in the United States.  Any politician who suggested removing the federal guarantee from student loans would be ridiculed as attempting to deprive future generations of the American dream.

[HVC]

I don't like the idea of socializing peoples mistakes by making student loans dischargeable. especially not art and history majors mistakes. dirty hippies

That's not what BK discharge ordinarily does.  BK distributes losses between two private actors.  It's just the fed guarantee (and the fact the fedgov is originating most current loans) that make this a "public" issue.

However, the best reason for allowing the possibility of discharge is that it forces lenders to actually look at what they're lending for.  Given that public funds are being misused, permitting loans to be issued without any underwriting standard is actually unpatriotic.

they'd just charge more interest. shareholder value and what not.

So?

So I would have to pay more because of other peoples bad choices. They wouldn't have to pay more for their bad choices, they just get to throw their hands up and say screw it. Unlike socialized medicine, for example, everyone pays in (so while, say smokers, might take out more, they still pay in, so the net difference is smaller and seems fairer).

[Jacob]

About jobs and education - even the Taiwanese are having second thoughts about the value of education and finding good white collar jobs: http://www.bbc.co.uk/news/world-asia-24156168

[HVC]

I don't like the idea of socializing peoples mistakes by making student loans dischargeable. especially not art and history majors mistakes. dirty hippies

Why not?

as per my last post it seems unfair to me. it's not something everyone pays into, it's  something that only charges those who make prudent choices (they continue to pay their loan at a higher interest).

[garbon]

So?

Anyway, in a perfect world, the Dept. of Education would assume far more responsibility and, based on BLS statistics, establish price caps for tuition and quotas for degrees.  You still want your basketweaving degree, you can try to get a private, dischargeable loan, that won't exist because shareholder value is not raised by giving somebody money in exchange for an agreement that they can and will renege upon.

Prediction: sustained double-digit GDP growth by year five.

That doesn't sound like an ideal world at all.