College kids these days ????

[Alan Roehrich]

Originally Posted by Jeff Niceswanger

Hi MJ!
I made off and on payments on my Snap-On Tools while I was working. But these student loans are in another league. We know a lady that went to college back in 90's. She borrowed 125 grand. No payments were needed until she graduated (although the loan continues to accrue interest), then after graduation she started making her 1000 monthly payment. She graduated in 1997. So, she's paid 27 years. She still owes almost 80 grand. She will NEVER get it paid off. These loans must have been set up by loan sharks, or credit card companies. Unlike other debt, you can't file bankruptcy on them. They follow you to the grave and will be taken out of your probate after your gone. The Biden loan forgiveness stipulates that borrowers must have made at least 10 years' worth of payments to qualify, and I'm hoping she does.

She didn't read the loan when she signed it?


So the minimum payment is $1000? And she's been paying the minimum for 27 years?


Did she look at the cost of her degree compared to what the career the degree prepared her for pays?


See, the problem here is that people took out massive loans for college degrees they wanted, for careers they wanted. But they did not look at how the career pays for the loan.


The government created this "student loan crisis" by making stupid amounts of money available without the simple qualification of being able to pay it back. And in so doing, like every other time the government throws money at a "problem", they merely caused insane inflation. They also turned college into a scam. Colleges now charge stupid expensive tuition, require massive numbers of classes irrelevant to the degree, and offer classes that no one could ever hope to make living to pay for. The university system now graduates less than 60% of those who enter. More than 50% of those who enter and eventually do graduate, even after ten years, NEVER have a job even remotely related to their degree. College is a bigger scam than credit cards, casinos, and Social Security. Now "college" is staffed with America hating marxist professors, who turn out indoctrinated minions who offer practically nothing to prospective employers, or the nation.



And now, they claim to offer "student loan forgiveness". They're not "forgiving" anything. They're reassigning another few hundred billion in debt to millions of tax payers who never signed up for that debt.



Sorry, I'm now officially out of patience for being tasked with carrying the load for people who made really poor decisions.