College people: Does this pic just about sum it up?

[Ns1]

and lol, got this related link from that FW thread

Need parential advice: Son lied about college for 4 years, Tuition Money gone
http://www.fatwallet.com/forums/finance/1429652/

 

[halik]

I borrowed $46K in 2007-2009, paid it all back by 2012. May I suggest a college degree that actually makes you employable, with a side of personal responsibility?

 

[pcgeek11]

and lol, got this related link from that FW thread

Need parential advice: Son lied about college for 4 years, Tuition Money gone
http://www.fatwallet.com/forums/finance/1429652/

WOW!

I am just speechless. I would loose my mind if my son did that to me for a tune of over 200K. Throwing him out and cutting him off would be too gentle.

I guess this falls under trust but verify.

 

[s0me0nesmind1]

So I totally just realized....

How the fuck does she "still owe" $45k if she ONLY BORROWED $26k?

How the fuck does that make sense if she has been "faithfully paying" for 23 years? That makes zero sense. If she originally borrowed $26k her loan principle doesn't go up.

 

[s0me0nesmind1]

Also if you want to /ragequit life, click here: https://twitter.com/hashtag/occupystudentdebt

 

[xeemzor]

Also if you want to /ragequit life, click here: https://twitter.com/hashtag/occupystudentdebt

No one has any personal responsibility anymore.

 

[Exophase]

"We are told to get a #College Degree. Majority of #students get it a lifetime debt because of it. #OccupyStudentDebt"

A majority of students get a lifetime of debt? Somehow I doubt that.

 

[Belegost]

"We are told to get a #College Degree. Majority of #students get it a lifetime debt because of it. #OccupyStudentDebt"

A majority of students get a lifetime of debt? Somehow I doubt that.

Yea but a [truthful] rallying cry of "A majority of students end up with 10 years of debt similar in scale to buying a new car!" doesn't have the same impact.

 

[Genx87]

Why do these sob stories pick the biggest morons to showcase an issue?

 

[s0me0nesmind1]

Why do these sob stories pick the biggest morons to showcase an issue?

Because thats the only people that honestly are a part of this type of shit.

Anyone else with debt grins and bears it. They know what they did. They know they have to pay it back, so they might not be able to go out to eat every 2 days and go to the bars every friday and saturday until they pay it off. They also know you can pay more than the minimum payment... Probably because it's called just that.... MINIMUM payment.

 

[QuantumPion]

I ran the numbers. In order to have $26k initial loan, $32k paid, and $45k owed after 23 years, that means she is paying $115/month while the minimum, interest-only payment is $143 at 6.5% interest.

 

[TheSlamma]

I borrowed $46K in 2007-2009, paid it all back by 2012. May I suggest a college degree that actually makes you employable, with a side of personal responsibility?

C'mon man, those are boring and hard.

LOLbril Arts FTL

 

[CraKaJaX]

Every time I see these 'heartbreaking' stories I am forever thankful for busting my nuts for 4 years and earning a degree that actually means something. I have zero sympathy for the ones who decide to go to school for some horseshit degree and party their life away and then decide to bitch and complain about it when they can't get a fucking job. At least it's kind of entertaining...

 

[Krazy4Real]

I'll have all my student loans paid off by the end of this year.

 

[inachu]

I say lets ban predatory ursury. Let student go to court to readjust those loans.

 

[zephyrprime]

Government strove to make college more accessible by providing more loans. They foolishly didn't try to increase the capacity of colleges to have more seats. This lead to higher priced colleges. Most the extra money is going to a vastly increased number of administrators (not faculty) and vanity projects.

 

[Markbnj]

Government strove to make college more accessible by providing more loans. They foolishly didn't try to increase the capacity of colleges to have more seats. This lead to higher priced colleges. Most the extra money is going to a vastly increased number of administrators (not faculty) and vanity projects.

I mostly agree with the pricing relationship, but I am not sure about the causation. If capacity is strained why are colleges spending so much money aggressively courting students? I tend to think the relationship is more like that between medicare recipients, medical services providers, and the agencies that pay for treatment.

 

[Ryland]

I owed my father 75% of the $25,000 he paid when I went to college and had it paid off in less than 5 years which seriously annoyed him since he was using my payments to pay his mortgage.