Student loans anyone - Obama Student Loan Policy Reaping Record $51 Billion Profit

[The Dude]

Now there are 2 of us - let's keep talking it up.

It's almost impossible to put hard #'s on it, but I have a hard time imagining the return on investment for that being pretty huge. We keep talking about how we're losing ground in the world in education, technology, medicine, etc. Let's get everyone a higher degree, without crushing debt, and see what happens.

What's the taxes paid on 2,5000,000 income?

 

[Cancel 2020.1]

What's the taxes paid on 2,5000,000 income?

Exactly - maybe we CAN put a hard # on it.

 

[The Dude]

Exactly - maybe we CAN put a hard # on it.

Stop the war mongering, home and abroad!
Tax pot, free healthcare and 4 years of state college free.

 

[Billy the Great Khan]

Now there are 2 of us - let's keep talking it up.

It's almost impossible to put hard #'s on it, but I have a hard time imagining the return on investment for that not being pretty huge. We keep talking about how we're losing ground in the world in education, technology, medicine, etc. Let's get everyone a higher degree, without crushing debt, and see what happens.

Probably not much. The a large portion of the value in a college degree is in its relative rarity.

 

[The Dude]

dealing with fedloan services right now, since my daughter graduated in December.......total incompetence......they treat each years loans as separate balances, but all use the same account number....so I get four statements a month, each with a different balance.......I sent in an $8000 payment and they send me letters threatening me because I am behind....I call them, they applied all the payment to one loan and showed the other three as late....

$8,000 you must have been way behind you slacker

 

[Cancel 2016.2]

Now there are 2 of us - let's keep talking it up.

It's almost impossible to put hard #'s on it, but I have a hard time imagining the return on investment for that not being pretty huge. We keep talking about how we're losing ground in the world in education, technology, medicine, etc. Let's get everyone a higher degree, without crushing debt, and see what happens.

as long as we are paying for degrees that actually have a return on the investment. Paying for people to get degrees that do not help them get jobs would be a waste. (if they want those degrees, they can pay for it on their own)

 

[Howey]

This is what happens when the federal government can borrow at record low interest rates while the student loan rate, which is set by Congress, is set to double in July. It's got nothing to do with "Obama student loan policy." In fact, Obama has proposed keeping the rates at 3.4% instead of having them increase.

Senator Warren has the best idea though:



http://thelead.blogs.cnn.com/2013/0...ses-deep-discounts-for-federal-student-loans/

I hope they listen to you cuz they won't listen to me.

I had student loans of almost $40k between Great Lakes and Citi. Originally I was supposed to have $20k of that eliminated as part of an enlistment incentive, but some very helpful retention folks managed to not help me and I timed out on the benefit. At this point, my interest rates were uber-low, but I owed the companies about $580 per month, and I was in the market for buying a house.

Also, those asswholes at Citi, whom I was paid well ahead on, kicked me over to Sallie Mae, and after my experience with an incompetently managed Dept. of Ed website, I was not in the mood for the dreaded Sallie. Also, I was no longer considered "paid ahead."

So, I consolidated through FedLoan servicing. Yes, astronomical rate, but comfortable monthly payment. If I'm still paying in 10 years, the current rules say I'm eligible for loan forgiveness.

Sux but good for you!

 

[Billy the Great Khan]

as long as we are paying for degrees that actually have a return on the investment. Paying for people to get degrees that do not help them get jobs would be a waste. (if they want those degrees, they can pay for it on their own)

Well that assumes that there aren't jobs in certain fields, which is untrue. They may be rarer, but they certainly exist.

 

[Bonestorm]

as long as we are paying for degrees that actually have a return on the investment. Paying for people to get degrees that do not help them get jobs would be a waste. (if they want those degrees, they can pay for it on their own)

I'd rather a world where there is no free universal college than a world where the government pays for people to get degrees in business and finance but not, say, social work or philosophy. Ugh.

 

[Airstrip One]

If you get a job in something useful like business and finance, you can be trained to do social work. Doesn't really work in reverse, though. Philosophy is worth studying, but we don't really need a lot of majors...

 

[Canceled.2016.1]

I'd rather a world where there is no free universal college than a world where the government pays for people to get degrees in business and finance but not, say, social work or philosophy. Ugh.

You are not a very bright lad are you? The almighty SF did not say anything about eliminating degrees in social work or philosophy. How many times have I tried to stop your straw man building days? Will you ever man up and actually discuss what others have written? Or will you continue building your straw men while diddling yourself?

 

[Cancel 2020.1]

I'd rather a world where there is no free universal college than a world where the government pays for people to get degrees in business and finance but not, say, social work or philosophy. Ugh.

It doesn't happen much, but I kind of get what he's saying. It might be the only way to "sell" that kind of idea (free college) in the beginning - the gov't will pay, but only for certain majors. I mean, you can imagine the outcry & opposition if taxpayers are paying for an art history degree or something.

I don't like the idea of gov't deciding that kind of thing, but if they're going to treat higher ed, it might be a more practical way to do it. It wouldn't be like they'd be preventing people from choosing those majors in general.

 

[Timshel]

Re: Student loans anyone - Obama Student Loan Policy Reaping Record $51 Billion

The irony is that Obama took over the student loans because it was immoral for banks to "profit" from college students. Apparently he wasn't opposed to "profit" just wanted tha profit to go to the gobblement instead.

BTW student loan debt is the next bubble that will pop IMO

It was immoral for them to profit off of it. They were not taking any risks. Why do you support welfare for banks?

 

[Howey]

as long as we are paying for degrees that actually have a return on the investment. Paying for people to get degrees that do not help them get jobs would be a waste. (if they want those degrees, they can pay for it on their own)

Two things...

One, and once again, these are loans, not giveaways. Why is that so hard for your narrow mind to understand?

Two, I'm not surprised you're being Mr. Judgmental again. Who the fuck are you to determine what is and what isn't a good degree? Who made you the arbiter of that?

Do you know social workers save lives? What is it they do that you don't appreciate?

And what the fuck is it your business what someone studies in college?

What's your degree in?

STUPIDITY?

 

[Airstrip One]

It was?

 

[Howey]

If you get a job in something useful like business and finance, you can be trained to do social work. Doesn't really work in reverse, though. Philosophy is worth studying, but we don't really need a lot of majors...

Everyone has an aptitude to do something, even if it's digging ditches. Like I told SF, business and finance require skills, but so does social work.

Do you know who Max Palevsky was? He was a pioneer in computer technology, as well as a businessman and art connoisseur who founded Packard Bell. He had dual degrees in Math and Philosophy. Here's a quote:

Many of us early workers in computers were philosophy majors. You can imagine our surprise at being able to make rather comfortable livings.

 

[Cancel 2016.2]

Two things...

One, and once again, these are loans, not giveaways. Why is that so hard for your narrow mind to understand?

Dear moron... the comment you quoted was in discussion about having the government provide college education for 'free'. It had nothing to do with loans. So tell us again which of us has a narrow mind?

Two, I'm not surprised you're being Mr. Judgmental again. Who the fuck are you to determine what is and what isn't a good degree? Who made you the arbiter of that?

Dear moron, I did not say I was the one who should decide what is or isnt a good degree. I said don't pay for ones that wouldn't help people get a job.

Do you know social workers save lives? What is it they do that you don't appreciate?

Tell us moron... where did I say anything about social workers? Where did I say anything about not funding degrees for social work? Oh yeah, I didn't. You just jumped on Dung's straw man and started humping it.

And what the fuck is it your business what someone studies in college?

Dear moron... we are having a discussion on whether or not the government should pay for degrees. Thus, the reason I brought up what we would pay for. If we the taxpayers are to fund these degrees, we absolutely have a right to voice our opinion on what is or is not covered. Can you comprehend that or do I need to dumb it down to Garuds level for you?

What's your degree in?

economics and finance

STUPIDITY?

yes, you have an abundance of that.

 

[Cancel 2016.2]

I'd rather a world where there is no free universal college than a world where the government pays for people to get degrees in business and finance but not, say, social work or philosophy. Ugh.

Two things...

One, and once again, these are loans, not giveaways. Why is that so hard for your narrow mind to understand?

Two, I'm not surprised you're being Mr. Judgmental again. Who the fuck are you to determine what is and what isn't a good degree? Who made you the arbiter of that?

Do you know social workers save lives? What is it they do that you don't appreciate?

And what the fuck is it your business what someone studies in college?

What's your degree in?

STUPIDITY?

Hillarious how poor little Howey jumped all over Dung's strawman

 

[Damocles]

I'd rather a world where there is no free universal college than a world where the government pays for people to get degrees in business and finance but not, say, social work or philosophy. Ugh.

Well, a nice Martial Arts degree would be beneficial. I think we should fund those, and you'd have to fund other accredited colleges, like some Bible Colleges... Yeah, a nice PhD program for people who think Dinosaurs were on the Ark with Noah....

Social work wouldn't be one of the degrees they are talking about. Philosophy likely would be though. What does a Philosophy Major say after he graduates? "Would you like fries with that?"

 

[Cancel 2016.2]

as long as we are paying for degrees that actually have a return on the investment. Paying for people to get degrees that do not help them get jobs would be a waste. (if they want those degrees, they can pay for it on their own)

I'd rather a world where there is no free universal college than a world where the government pays for people to get degrees in business and finance but not, say, social work or philosophy. Ugh.

Dearest Howey... the first is what I wrote... the second is Dung creating the straw man you so eagerly pumped