Student loans/debt responsibility?

Student loans/debt responsibility?

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Student loans/debt responsibility?
  #1  
Old 11-10-2019, 10:06 AM
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Default Student loans/debt responsibility?

I remember when I applied and was approved. I could not have been happier.

Oh but I was happier.....10 years later when I made my final payment.

Being one who honored their obligation while raising a family, buying a home, et al.....I am not a supporter of student loan forgiveness. All those who committed to repay, like me, knew what they were opting in for when they applied for and signed for the loan(s).

There is no excuse for not honoring the obligation and paying back the loan(s). Prudent and responsible budgeting makes it happen.

Not sure how long the thread will last before some posting violations cause it to be closed.....we'll see.

What would be next? Mortgage or car payment forgiveness for many of the same excuses?????
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  #2  
Old 11-10-2019, 10:11 AM
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Quote:
Originally Posted by billethkid View Post
I remember when I applied and was approved. I could not have been happier.

Oh but I was happier.....10 years later when I made my final payment.

Being one who honored their obligation while raising a family, buying a home, et al.....I am not a supporter of student loan forgiveness. All those who committed to repay, like me, knew what they were opting in for when they applied for and signed for the loan(s).

There is no excuse for not honoring the obligation and paying back the loan(s). Prudent and responsible budgeting makes it happen.

Not sure how long the thread will last before some posting violations cause it to be closed.....we'll see.
I totally agree, it encourages irresponsibility. And what kind of message does it send to those who planned, budgeted, and sacrificed to pay for their educations?
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Old 11-10-2019, 10:22 AM
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I almost have my U of MN Law School loan paid off. Been a hard road though. Could not use my law and librarianship degrees because I ****ed off the powers that be in law librarianship by wanting to be honest about the affect of the 2-24-1976 (my birthday) murder of Michelle Mitchell near the U of Nevada, Reno campus on me while I was earning four degrees and had represented prisoners through Legal Assistance to Minnesota Prisoners, a clinic at the U of MN Law School. My immediately prior Law Library Director at the U of MN became Law Librarian of Congress in around 1990. They made my concern about a niche in practical information for survivors/victims of crimes my psychological problem. Or sort of. At least my personal concern rather than a rightful concern of law librarians around the world.

I had to do this as a hobby from mid 1991 while enlisting any one I could think of to solve it through other ways, i.e. victims/witness assistance groups, Governors, religious groups, celebrities in many areas, etc.
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Old 11-10-2019, 11:06 AM
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It encourages bad behavior. Does not teach anything. Allows the teaching of the political agenda colleges drive into young minds to continue. That is the major reason politicians want the loans forgiven. It encourages current students to borrow more as they will believe they will never have to repay the loans. And it slaps all of us who paid off our loans right in the face.
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Old 11-10-2019, 11:08 AM
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College bound students should have been able to take out those loans at the same rate banks get to borrow money. Extremely profitable Corporations get tons our tax dollars, while paying no taxes and actually getting money back. The Federal Flood Insurance program is $25+ billion in the hole. Guess who will have to pay that down? I paid my own way through college, no help from my parents. However, back then, college wasn't as costly as it is today. I also started a business back in 1982. My loan rate was an immoral 20%, and I was able to pay it off ahead of time. Perhaps the answer is to allow these kids to refinance at the same rate banks pay for loans, with the stipulation they stay with that bank for all of their banking needs, until their loans are paid off. Banks are cash cows for the owners.
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Old 11-10-2019, 11:40 AM
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Our 3 children have $500,000 plus each in student loans. All are still paying
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Old 11-10-2019, 11:54 AM
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Quote:
Originally Posted by asianthree View Post
Our 3 children have $500,000 plus each in student loans. All are still paying
Do they all have good careers as a result of the student loans ?
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Old 11-10-2019, 11:58 AM
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If you borrow money you should pay it back. Why is that becoming such a hard concept to understand?
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Old 11-10-2019, 12:10 PM
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Wow! $500,000... I suppose that is part of being in a capitalist economy. The universities can charge whatever people are willing to pay. It used to be in my native country only 4% of the population attended university/ higher education and it was almost free tuition. But entrance was based on ability. Degrees actually meant something.

These days it is practically expected that you get higher education or else! And then which prestigious institution.

My daughter wanted a top University and she earned a full scholarship which paid for her residence as well. I also studied on scholarship which not only paid tuition and residence but also my child care. So we graduated with no debts but we really worked hard for it.

My heart goes out for those who need to pay these very large student debts. But it still amazes me that everyone, now days, needs to go to college. The more percentage of the population who attend college the less the degree actually means. It is like athletics if anyone can play, how good can the team be?
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Old 11-10-2019, 12:19 PM
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Had a home loan, paid it off. Had a car loan, paid it off. Had a student loan, paid it off. That's what you do.

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