KD in CA Posted October 26, 2011 Share Posted October 26, 2011 Aside from the obvious fact that no one FORCED them to borrow money to go to college, the reality is they already have an option for their crushing student loan debt: default. I borrowed about $10K nearly 30 years ago, and when I was out of college, I couldn't afford the payments because my career choice paid peanuts. So after a half dozen deferments, I defaulted. About two years later I was contacted by the bank to redo the loan and expunge the default from my credit. Signed some papers, they forgave the back interest, got it expunged, I paid it back, and that was the end of of it. While this is obviously personal, what is particularly frustrating about this whole, new "forgive our student loan' crap is that it never in my wildest dreams ever dawned on me that one way out of my student loan debt was to stand wasted in a public park screaming that the banks should eat the loss and let me go free. What kind of person even thinks that way, let alone speaks it out loud? but...but....it should be my right to go to college so I can spend four years getting high, drunk, laid and studying things that have absolutely zero practical use in society. Just send the bill to some rich bogeyman. Link to comment Share on other sites More sharing options...
/dev/null Posted October 26, 2011 Share Posted October 26, 2011 When I was listening to a story about Oakland clearing out the OWS people on public health grounds, because the park was overrun with litter and human waste and such, my first thought was "Y'know, this illustrates perfectly the difference between the Tea Partiers and OWS morons. Tea Partiers believe they're responsible for their own ****. OWS'ers belive their **** is somebody else's problem. So there's you answer. The kind of person who thinks that way is someone who believes their **** is somebody else's problem. I thought it was a waste of teargas in Oakland to use it on a handful of people who were doing nothing but sitting around crying anyway. Link to comment Share on other sites More sharing options...
Chef Jim Posted October 26, 2011 Share Posted October 26, 2011 The problem isn't lending, its ignorance of personal finance and unrealistic expectations which is at the root of the OWS discontent. No the !@#$ing problem is you didn't listen to your dad or he didn't force you to listen to him. It's not that they were sitting around crying. It's that they were sitting around trying to start a !@#$ing cholera or typhus epidemic. Basic sanitation must be a capitalist conspiracy. Meanwhile across the Bay Dozens of the 200 or so campers in Justin Herman Plaza ambled off toward Third Street to protest President Obama's visit. Others cooked up lunch for the homeless people who compose the majority of the camp. Still others lounged or napped among the 50 tents, tarp-covered rest areas and patches of grass. Great. This is a few blocks from where my wife works. And she just overcame being deathly ill for 3 months this spring/summer from something we're pretty sure she caught from the filth on SF's public transportation. Link to comment Share on other sites More sharing options...
IDBillzFan Posted October 26, 2011 Share Posted October 26, 2011 Great. This is a few blocks from where my wife works. And she just overcame being deathly ill for 3 months this spring/summer from something we're pretty sure she caught from the filth on SF's public transportation. I love this quote from the story. A protester passed by and shouted, "We're too big to fail!" And too lazy to succeed. Link to comment Share on other sites More sharing options...
Jauronimo Posted October 26, 2011 Share Posted October 26, 2011 No the !@#$ing problem is you didn't listen to your dad or he didn't force you to listen to him. Way to side with the parents, SCAB. Forgot that Chef was such a good boy and always did what he was told. Link to comment Share on other sites More sharing options...
John Adams Posted October 26, 2011 Author Share Posted October 26, 2011 IF I hear about student loan forgiveness again, I'm going to nuke these people. I feel fortunate that I could take out student loans to go to college. I worked full-time, supported my wife, and took out student loans as well--ant things were tight but I finally graduated. I was confident taking out the loans because I was in a major (Engineering) that was likely to have high paying jobs at the end of it. If you take out loans to be an English major, enjoy using 50% of your Wal-Mart manager salary to pay back your loan each month.* You were stupid and I have no sympathy. *Assumes English major strawman is qualified to be manager at Wal-Mart.** **Bad assumption, I know.*** ***Substitute cashier for manager. Link to comment Share on other sites More sharing options...
Jauronimo Posted October 26, 2011 Share Posted October 26, 2011 http://money.cnn.com/2011/10/26/news/economy/occupy_wall_street_backlash/?npt=NP1&hpt=hp_t2 Looks like they're down to 99% of the 47%. Link to comment Share on other sites More sharing options...
Chef Jim Posted October 26, 2011 Share Posted October 26, 2011 Forgot that Chef was such a good boy and always did what he was told. Oh just as with all of us there were many times I did and many times I didn't. As an adult (and a very young adult at that) I realized that typically good things happened when I did and bad things happened when I didn't. Link to comment Share on other sites More sharing options...
DC Tom Posted October 26, 2011 Share Posted October 26, 2011 but...but....it should be my right to go to college so I can spend four years getting high, drunk, laid and studying things that have absolutely zero practical use in society. Just send the bill to some rich bogeyman. No, no, no, you've got it all wrong. They don't think the rich bogeyman should pay for college. They think the rich bogeyman is exploiting them by making them pay for four years of indolence and not giving them a job afterwards. Who was the nitwit here a few years back who insisted that lending money to people was actually stealing money from them, because they had to pay you back? The guy who had the brilliant plan of making millions by giving away houses he bought from the city using city money? He could explain it to you. Link to comment Share on other sites More sharing options...
Chef Jim Posted October 26, 2011 Share Posted October 26, 2011 Who was the nitwit here a few years back who insisted that lending money to people was actually stealing money from them, because they had to pay you back? The guy who had the brilliant plan of making millions by giving away houses he bought from the city using city money? He could explain it to you. Celtic Soulja? He had a plan. Link to comment Share on other sites More sharing options...
erynthered Posted October 26, 2011 Share Posted October 26, 2011 ACORN involved..... Its FOX news so it must be wrong. http://www.foxnews.com/us/2011/10/26/exclusive-acorn-playing-behind-scenes-role-in-occupy-movement/ Link to comment Share on other sites More sharing options...
Jauronimo Posted October 26, 2011 Share Posted October 26, 2011 Oh just as with all of us there were many times I did and many times I didn't. As an adult (and a very young adult at that) I realized that typically good things happened when I did and bad things happened when I didn't. I came to the same realization as well, at about age 22 when I graduated and found that real life was much closer to what dad had described than what I had imagined. For the record, I'm not complaining about my loans, just describing the mindset that many young people have going into college and the subsequent shock of entering the real world, especially in a challenging economic climate. Some come to the realization that life isn't going to be handed to them and go to Zuccotti Park to protest student loans. Others come to the realization, accept the naivete of their youth and gut it out. Link to comment Share on other sites More sharing options...
TPS Posted October 26, 2011 Share Posted October 26, 2011 http://money.cnn.com/2011/10/26/news/economy/occupy_wall_street_backlash/?npt=NP1&hpt=hp_t2 Looks like they're down to 99% of the 47%. Interesting. Probably took out government-backed student loans, got their education degrees at a public institution, and now both have high-paying government jobs as members of the teachers' union...Go 53%!!! Link to comment Share on other sites More sharing options...
KD in CA Posted October 26, 2011 Share Posted October 26, 2011 No, no, no, you've got it all wrong. They don't think the rich bogeyman should pay for college. They think the rich bogeyman is exploiting them by making them pay for four years of indolence and not giving them a job afterwards. Who was the nitwit here a few years back who insisted that lending money to people was actually stealing money from them, because they had to pay you back? The guy who had the brilliant plan of making millions by giving away houses he bought from the city using city money? He could explain it to you. I remember that guy. Best business plan ever. Link to comment Share on other sites More sharing options...
Jauronimo Posted October 26, 2011 Share Posted October 26, 2011 IF I hear about student loan forgiveness again, I'm going to nuke these people. I feel fortunate that I could take out student loans to go to college. I worked full-time, supported my wife, and took out student loans as well--ant things were tight but I finally graduated. I was confident taking out the loans because I was in a major (Engineering) that was likely to have high paying jobs at the end of it. If you take out loans to be an English major, enjoy using 50% of your Wal-Mart manager salary to pay back your loan each month.* You were stupid and I have no sympathy. *Assumes English major strawman is qualified to be manager at Wal-Mart.** **Bad assumption, I know.*** ***Substitute cashier for manager. http://www.cnn.com/2011/10/26/politics/obama-student-loans/index.html?hpt=hp_t2 DEFCON 1 John, prepare for launch. Link to comment Share on other sites More sharing options...
KD in CA Posted October 26, 2011 Share Posted October 26, 2011 Interesting. Probably took out government-backed student loans, got their education degrees at a public institution, and now both have high-paying government jobs as members of the teachers' union...Go 53%!!! Is that the fantasy you invented to so you can keep clinging to the lefty party line no matter how far off the rails it has gone? Any health updates on your favorite dictator Hugo Chavez? Link to comment Share on other sites More sharing options...
Jauronimo Posted October 26, 2011 Share Posted October 26, 2011 (edited) Interesting. Probably took out government-backed student loans, got their education degrees at a public institution, and now both have high-paying government jobs as members of the teachers' union...Go 53%!!! As opposed to those who took out government backed loans to go to a private institution, now have no jobs, defaulted on their student loans thus raising the cost of borrowing for everyone, want credit reporting abolished so they can continue to borrow more money with no intention to pay that back, and demand a $20 an hour wage from the government so they can continue to camp outside of Wall Street and harass the people whose tax dollars pay their allowance ... Go 47%!!!! Edited October 26, 2011 by Jauronimo Link to comment Share on other sites More sharing options...
Alaska Darin Posted October 26, 2011 Share Posted October 26, 2011 What an oppressive system we have that allows young individuals with no collateral or credit history to borrow money at a relatively cheap cost of funds, so that they may better themselves. If they didn't have access to credit to obtain loans and go to college and thereby higher education was limited to the very wealthy, I might feel for them, but that certainly isn't the case, so I don't. I was and perhaps still am in the situation of many of these protesters who cry about student loans and I still haven't the slightest bit of pity. Graduated into a less than favorable economy with massive debt and had to take a job which I felt was beneath my degree (collecting on defaulted and student loans, ironically) to the pay the bills. Welcome to being an adult. The biggest problem or what lead to the problem (if there indeed was a problem) was that my expectations and understanding of what lies after college were not in line with reality. I like many 18 year olds thought that if my diploma read "Big Swinging Dick Pay Out the Ass Private University" that I would come out 4 years later making more than my parents. Wrong. I took economics but had not a clue about personal finance. So telling me that I would be faced with a $500 per month loan payment seemed like no big deal when I was convinced I'd be clearing between $65-$100k per year. Wrong. I thought it wasn't fair and tried to complain until dad reminded me that I could have gone to state school for practically nothing. Guess I should have listened, but I was convinced by the commercials and guidance counselors and all the great success stories that as a graduate from a good private school the private sector would fight over the right to secure my talents. Wrong. The problem isn't lending, its ignorance of personal finance and unrealistic expectations which is at the root of the OWS discontent. Guess your real education didn't come with a fancy diploma... Link to comment Share on other sites More sharing options...
/dev/null Posted October 26, 2011 Share Posted October 26, 2011 http://www.cnn.com/2011/10/26/politics/obama-student-loans/index.html?hpt=hp_t2 DEFCON 1 John, prepare for launch. I am the 53% Link to comment Share on other sites More sharing options...
IDBillzFan Posted October 27, 2011 Share Posted October 27, 2011 I am the 53% I spent some time cruising the postings at their site. Pretty great stuff. Check 'em out. Link to comment Share on other sites More sharing options...
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