Who will be paying back all those student loans??

I just heard that student loan debt has eclipsed credit card debt as the #1 form of debt in the US. For years we've been warned that credit card debt was an impetus for bankruptcy filings so I wonder what this says about the state of the nation's personal finances? It seems people have heeded the advice to curtail credit card spending but student loan debt just continues to mount. So now, not only are our students amassing more & more debt, they are faced with diminished job opportunities. Kinda scary.

 

Do you know how it came to be that students are becoming more in debt? I know you have a few ideas, but I also know you will never admit it publically that people like you are part of the problem.

 

So how am I part of the problem?

 

I've told him countless times why he and his ilk are the problem but he would rather find fault in his political enemies rather than his own behaviors, beliefs, and his ideology. He didn't mind when we tax payers subsidized his education through funding public universities, awarding grants and scholarships, and low interest loans. Now that he has kids that he can't afford to send to college without large student loans, (he'll never admit it though) he is all indignant that the costs have gone up and grants and scholarships are almost nonexistent basically because he and his RW ilk have done everything in their power to defund education at all levels. Welcome to the fruits of your short-sightedness. It's called voting against your own self-interests and Right-Wingers have been doing it forever. Only now does someone like David realize how he has screwed himself and now all he wants to do is to blame the educational system. And I'll admit it, it does tickle me just a little.

 

Wanna know when you are on the wrong side of an issue? It's when you have to start telling lies to support your narrative.
moen, you can say I have student loans (or will have to have them in order to educate my kids) all you want but it still doesn't make it true. What it does prove, though, is how dependent your paycheck is on screwing as many kids as you can into taking on student loan debt...there could be no other explanation as to why you take it so personally & defend the industry so adamently.

 

For example....

Mitt Romney and congressional Republicans don't just want lower-income Americans to be hungrier, poorer, and more unhealthy, they want them to be uneducated, too.
They Ryan budget, adopted by House Republicans yesterday, would drastically cut Pell Grants and make college education even more unaffordable for low-income and middle class students alike.

More than 1 million students would lose Pell grants entirely over the next 10 years under Rep. Paul Ryan's budget, according to an analysis that the national reform organization Education Trust provided to The Huffington Post. [...]
The plan proposed by Ryan (R-Wis.), who chairs the House Budget Committee, would chop away at Pell grant eligibility, thereby reducing total Pell grants by about $200 billion over the next decade; allow the interest rate for federally subsidized Stafford loans to double; end student loan interest subsidies for those still in school; and make Pell spending discretionary—instead of mandatory—allowing further cuts down the line. Pell grants, the largest source of federal financial aid, currently help more than 9 million students to afford college. Following last year's budget standoffs, next year's maximum Pell grant of $5,645 will cover just one-third of the average cost of college—the smallest share ever.[...]
And it gets worse. Sixty percent of students who receive Pell grants also take out loans—twice the rate for college students overall—so they might be doubly hit by the Ryan cuts: In addition to receiving less Pell money, they would have to start paying interest on their loans while still in school.​

It'd also put up one more barrier to students in accessing aid, by getting rid of a "trigger" that allows students below a certain income to bypass the otherwise lengthy application process, meaning that more would-be students would be discouraged by the process and not even apply for aid.

Helluva vision Republicans have for America, no?

 

I am probably reacting to yet another thread by you about student loans/educational costs. I'm just reading between your lines of resentment. I can't even figure out why this is even in the political thread. You probably just realize how little attention you'd get if it wasn't here and you need an audience. I defend the Profession because you lie about it so much that I feel the need to correct the nonsense you spew when in reality, you have no idea what higher education is really like. You certainly don't know what you're talking about but at the same time your resentment comes through loud and clear.

 

Hey, just think of all the victims...err, I mean students...you'll have to prey on if freebies dry up! You can earn another $60k a year raise...line up even more cars in your driveway...buy more FL investment property...Hmmm, I guess you do have a lot to protect, don't you?

 

Given my post #6. Who should you really be blaming for the high cost of education? You shouldn't worry though, the Democrats are never going to let this happen. Just keep supporting the guys trying to make your kids educational cost higher than ever. You know that you want to!

 

Who said this:

“We can’t just keep subsidizing skyrocketing tuition,” he said. “We’ll run out of money.” States needed to stop slashing college budgets, he noted, but colleges also had work to do. “So let me put colleges and universities on notice: If you can’t stop tuition from going up, the funding you get from taxpayers will go down.”
​

 

Actually, I had my pay cut in half when I left the private sector. It wasn't education that made me money, it was the 30 years of working outside of education that bought me all those things. At this point in my life, I can pretty work where I want for as little or as much as I want.

And here is the kicker. I have to go out this month and transfer one of my kid's college fund into a trust so that it can be accessible to pay tuition costs this fall when my son starts working on his engineering degree. No student loans at all.

 

Exactly as I have said. Obama was completely right. States are cutting their support for their public schools forcing students to take out more loans while MAP grants (in my state anyway) are also being cut. The states are shifting the costs of education to the individuals and the federal government. Remember, these are state owned schools. Republicans are working at the state level to kill the funding and their counterparts in Washington are doing the same thing to federal education money. Again, who should you really be blaming? You can't seem to answer that question.

 

I tend to focus on this piece:

So let me put colleges and universities on notice: If you can’t stop tuition from going up, the funding you get from taxpayers will go down.”

Read more: http://www.partisanlines.com/threads/who-will-be-paying-back-all-those-student-loans.4324/#ixzz1rgTjonSD​

 

That depends on you definition of "cut". Here are some true facts instead of the liberal mantra.

Translation; Ryan's "cuts" would only increase the plan by about $100B in the next 10 years. So again, the word "cut" is just liberal speak for reducing the increase.

 

As expected, republicans slash spending and whine that anyone but themselves have any responsibility for the results. Cowards!

 

Even given your creative word salad "translation", you have no idea what you're talking about again. Even Ryan couldn't say what you are claiming because the details of the cuts, yes cuts, aren't available yet because that is how the budget was written. But I know this will never stop you from claiming exactly what you want anyway. If you really want to see the cuts to the pell grant program, here is a link. Not that you won't come up with another creative translation even if you do bother reading it and given the remote possibility that you might even understand what you are reading is always a consideration. But what the hey... http://edmoney.newamerica.net/blogp...reforms_in_the_house_passed_ryan_budget-65989

 

Yep, I can read. The only major difference between your "cuts" and my words is that I used 2008 as the base year in stead of 2014. What you are missing is that BO upped them 253%. Hmmmmm! 253% in 3 years. That is a 40% per year inflation. Now what?

 

From what I read, Ryan is not cutting Pell Grants out altogether but rather reducing the grants by $1000. In the spirit of "sharing the pain", is it crazy to ask the students to pay a little or the schools to cut people a break? Afterall, BO is on record claiming we can't afford to continue the pace he created.

 

BINGO!!! Republicans ARE asking students to pay a "little more". And this is on top of rising tuition costs due to states pulling back funding for higher education. Republicans always go straight for education when cutting the budget whether on a federal or state level. Where do you think the costs are going to be shifted to?

Now, you have said that the universities should absorb the cuts in funding and keep tuition low. Not only is that impossible, you'd end up having already low paid staff working for free. That is unlikely. While there are a few senior adminstration people that make what I'd consider very nice salaries, i.e. the president, the provost, the VP's and the Vice Provost, etc., the vast majority of staff that have worked here for 20 or 30 years or longer make less than 30,000 a year. Are they supposed to work for even less? The fact is that at state schools, 90-95% of the cost of running a university is salaries, and low salaries at that. The buildings are all owned by the state and the only area to possibly cut IS salaries. We have experienced years of salary cuts at all levels and even returned funding that was given in past years. Where exactly would you suggest we cut more "fat"? Just curious.

 

I would love to see you back up "the vast majority of staff that have worked here for 20 or 30 years or longer make less than 30,000 a year" unless your "staff" includes the grounds keepers, cafeteria servers, etc.

Oh! And I would bet that Dave Doeren, Jeff Compher, Mark Montgomery, and probably several others make some nice salaries.