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Occasi-Cortez Channeling the Rent's too damn high guy

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5 hours ago, Foxx said:

well.... i am probably in the minority on this but...

 

i agree to some extent on college loan debt. there should be no way in hell for a 17 year old to have to face the daunting realization that if they want to get the education they desire that it will initially cost them $250K in loan guarantees to get that education. 

 

The education "they desire"??   WTF should we offer anyone a free education they desire when the education they require can be had for a fraction that amount?

 

This kind of idiotic ***** nonsense is why the country is going down the shitter.

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5 hours ago, Foxx said:

well.... i am probably in the minority on this but...

 

i agree to some extent on college loan debt. there should be no way in hell for a 17 year old to have to face the daunting realization that if they want to get the education they desire that it will initially cost them $250K in loan guarantees to get that education. i am going to assume that this is a 6 year education for the sake of argument purposes here, 4 yrs. undergrad work and 2 yrs. grad work.

 

today, the undergrad work comes at a cost of roughly 5% with the grad work weighing in @ roughly 6.5% (low numbers) to pay that loan back. there are a great many factors involved that can affect what you owe and how much you have to pay but generally, depending on whether the loans are subsidized or not can greatly affect the rate at which you obtain your loans.

 

so.... 250K with a various repayment terms: 

 

5 years/60 monthly payments @ 5% :

 

Monthly: $4,833.20
 

 

Total Principal Paid: $250,000
 

 

Total Interest Paid: $39,992.02

it is estimated that you will need an annual salary of at least $566,137 to be able to afford to repay this loan.

 

10 year/120 monthly payments @5%: 

 

Monthly: $2,651.64
 

 

Total Principal Paid: $318,196.47
 

 

Total Interest Paid: $68,196.47

it is estimated that you will need an annual salary of at least $318,196 to be able to afford to repay this loan.

 

30 year/360 monthly payments @5%: 

 

Monthly: $1,342.05
 

 

Total Principal Paid: $483,141.39
 

 

Total Interest Paid:$233,141.39

it is estimated that you will need an annual salary of at least $161,046 to be able to afford to repay this loan.

 

the above numbers are only for 5% interest rate so the actual numbers will be slightly more.

 

this is tantamount to indentured servitude. unless you are hired to an outstanding job right out of graduation, one that pays you an astronomical salary, you have set yourself up for a lifetime of indentured servitude. it's kind of ***** to my way of thinking.

 

don't get me wrong, i don't think forgiving the debt is the right way to tackle this issue but strapping a 23 yr. old with these prospects isn't right either.

Better major in something that pays well.

 

I don’t care if you take out a mortgage on a crappy house and I don’t care if you take out a loan for a crappy degree. That’s your problem.

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A reminder to anyone that wants free college, the GI Bill does alot of that for you after serving in the military

 

I'm just saying...

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Just get a job to pay for the classes. Work full-time and go to school part-time. That is what I did. It takes longer to get your degree, but you graduate with lower student loans. 

 

Be a responsible adult. 

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11 hours ago, Foxx said:

 

don't get me wrong, i don't think forgiving the debt is the right way to tackle this issue but strapping a 23 yr. old with these prospects isn't right either.

I've said it elsewhere here, but imo the reasonable solution is to cap or freeze the interest accruals to provide a path for the money to be paid off. I came out well and I'm done with loans, but I've got friends that pay as much on their loans as they do for rent (here in DC that's a sizable amount) and they are barely keeping up with the interest growth. And yes, their degrees are in engineering, not a grievance study.

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This decades Student loan debt is last decades mortgage debt crisis all over again. People took out loans they couldn’t afford to pay back. Last decade they said the industry preyed on poor minority folk who didn’t know any better. Now apparently these loan scoundrels preyed on middle class white kids who are by the very definition; highly educated!  Hilarious. 

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11 hours ago, 3rdnlng said:

Simple. Don't chalk up a debt of that amount. Start out in Jr. College. Finish your undergraduate degree at a school that doesn't cost that much. Get a job while in graduate school. Other alternatives are to get the military to pay for it or claim you are part Cherokee. Seriously, as an employer obtaining your Masters without accumulating a lot of debt would impress me in an interview.

 

Don’t have children if you can’t afford to pay for a portions of their college. Get a job while in high school and set aside some money for college.  To wake up one day 17 years after the child was born and say “holy *****!!  We have to pay for college?” is a bit irresponsible. 

 

Having said that I feel the cost of college has gotten way out of control and the government handing out loans like candy has had a hand in that. Moving to a more online format for college education will fix this IMO. 

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6 minutes ago, Chef Jim said:

 

Don’t have children if you can’t afford to pay for a portions of their college. Get a job while in high school and set aside some money for college.  To wake up one day 17 years after the child was born and say “holy *****!!  We have to pay for college?” is a bit irresponsible. 

 

Having said that I feel the cost of college has gotten way out of control and the government handing out loans like candy has had a hand in that. Moving to a more online format for college education will fix this IMO. 

Yep.

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16 minutes ago, Chef Jim said:

 

Don’t have children if you can’t afford to pay for a portions of their college. Get a job while in high school and set aside some money for college.  To wake up one day 17 years after the child was born and say “holy *****!!  We have to pay for college?” is a bit irresponsible. 

 

Having said that I feel the cost of college has gotten way out of control and the government handing out loans like candy has had a hand in that. Moving to a more online format for college education will fix this IMO. 

 

Nature has a way of getting irresponsible people to reproduce and raise shiftless kids

 

cause and effect

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How come nobody is asking colleges why tuition has consistently increased at twice the rate of inflation for the last 3 decades?

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1 minute ago, GG said:

How come nobody is asking colleges why tuition has consistently increased at twice the rate of inflation for the last 3 decades?

  Because the money keeps coming in whether it be cash or student loan.  Many leftist professors could only dream of the cushy jobs they are in when they were coming out of grad school. 

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7 hours ago, GG said:

How come nobody is asking colleges why tuition has consistently increased at twice the rate of inflation for the last 3 decades?

 

It's more fashionable to bash health ins companies, oil companies and banks.  They're often led by and donate to republicans.  Universities are part of the protected class by the left and by the media.  Math doesn't matter in those circles. 

Edited by keepthefaith

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1 hour ago, GG said:

How come nobody is asking colleges why tuition has consistently increased at twice the rate of inflation for the last 3 decades?

 

 

lower and middle class people put a stronger than religious faith in the hope that their not-too-exceptional child can become a huge pillar of society by getting a University degree

 

if it weren't so tragic it would be hilarious

 

 

Edited by row_33

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https://bigleaguepolitics.com/university-of-michigan-has-82-diversity-officers-at-a-cost-of-10-6-million/

 

The latest reports place the expenses related to the University of Michigan’s ‘diversity officer’ staff as around $10.6 million dollars, spent to employ 82 people. According to Mark Perry, an economics researcher at the American Enterprise Institute, these expenses would be enough to cover full in-state tuition for 708 students if appropriated purposes.

The duties of Michigan’s ‘diversity officers’ remain unclear, but it’s hard to imagine that the 10+ million dollars spent by the University to employ them is being best utilized when it instead could be used to give more than 700 students a full ride to one of the nation’s most prestigious and expensive universities. 

The school had promised to devote a whopping total of $85 million to advancing diversity beyond 2021. It appears that much of the fortune will end up in the pockets of the school’s army of diversity officers, many of whom make more than $100,000 a year.  The school’s “Vice Provost for Equity and Inclusion & Chief Diversity Officer,” Robert Sellers, clocked in with a shocking annual salary of $396,000- more than the President of the United States.

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1 hour ago, GG said:

How come nobody is asking colleges why tuition has consistently increased at twice the rate of inflation for the last 3 decades?

 

No one questions anything. We are too busy with our lives, phones and arguing on message boards to ever take the time to ask “why??” 

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3 hours ago, Chef Jim said:

 

Don’t have children if you can’t afford to pay for a portions of their college. Get a job while in high school and set aside some money for college.  To wake up one day 17 years after the child was born and say “holy *****!!  We have to pay for college?” is a bit irresponsible. 

 

Having said that I feel the cost of college has gotten way out of control and the government handing out loans like candy has had a hand in that. Moving to a more online format for college education will fix this IMO. 

Parents should not be paying for kids to go to a university.

If your kid is too stupid to get a scholarship, then they should be thinking vocational school or community college; while working a job to pay for it.

 

Previous generations worked with the premise that financial support from parents ended at 18. If your adult kid can't take care of themselves, then you failed as a parent.
 

 

 

 

 

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6 hours ago, GG said:

How come nobody is asking colleges why tuition has consistently increased at twice the rate of inflation for the last 3 decades?

Does car salesman ask you how much you want pay for the car? No, he asks you what you want your monthly payments to be! When the interest rate on student loans go down the price of tuition goes up. Simple really.

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6 hours ago, GG said:

How come nobody is asking colleges why tuition has consistently increased at twice the rate of inflation for the last 3 decades?

 

The two most government subsidized markets in America are the two most ***** up markets in America. Higher education, and Healthcare. 

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10 hours ago, /dev/null said:

A reminder to anyone that wants free college, the GI Bill does alot of that for you after serving in the military

 

I'm just saying...

 

Worked for me.  I have had a nice somewhat lucrative career all in the field I majored in.  I came out debt free. I only worked in the summer and a little part time when I was low on beer money.

 

All this for serving a few years in a non combat MOS.  Dang near anybody can do the same.

 

Sorry, I just don't feel sorry for you if you have massive student loan debt and have to live with your parents til you're 40.

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