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WTF? 90-Day Chart Of Student Loan-Defaults Goes Parabolic!

 
MojoNixon
User ID: 28636410
United States
11/29/2012 03:09 AM
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Re: WTF? 90-Day Chart Of Student Loan-Defaults Goes Parabolic!
AND...???? So what? a bunch of yellow-bellied, slimy, do-littles with a load of debt?

What has changed, and more importantly; who gives a rats-asss?

The young fools emerging from the mind-loathing-kiln of morrow at least have the senses of their bequest...right???
Anonymous Coward
User ID: 21517741
United States
11/29/2012 03:33 AM
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Re: WTF? 90-Day Chart Of Student Loan-Defaults Goes Parabolic!
I'm still a junior and I don't think I'm gonna end up paying shit back. By now I should have had internship oppritiunities that would feed into a real job, but I'm shy so I don't befriend teachers or have any connections, so I'm fucked.
Institutionalized Chaos
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11/29/2012 03:46 AM
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Re: WTF? 90-Day Chart Of Student Loan-Defaults Goes Parabolic!
I'm still a junior and I don't think I'm gonna end up paying shit back. By now I should have had internship oppritiunities that would feed into a real job, but I'm shy so I don't befriend teachers or have any connections, so I'm fucked.
 Quoting: Anonymous Coward 21517741


The intern system is such obvious slavery. The colleges of America, are garbage --worse than garbage.

I have worked in IT for ten years, now seeing the whole industry destroyed purposefully by the people who've been promoted within it due to their lack of souls.

I never went to college because I was too busy knowing how Windows worked, and earning a wage. Now that M$ is tanking their own ship, I know it's over. But all this while I have seen interns come in and I ask them, "How much do you owe in school loans"? I'm amazed at the road they've been sent down.

Typically these college kids get jobs as temp job recruiters now. Notice how these tech recruiters are all kids, they are being given jobs as modern day slavers selling half-jobs to guys like me. Keeping ones skillset is still viable, but not for much longer. The colleges are essentially producing desperate termites.

I have a friend who is around 30, and has his clearances, he is good at not reading the wrong books, passing lie detector test, etc. He tells me I should become a computer science professor, because "You can get a tenured job for life" ...When I tried to ask him how that will help America, and when I ask him if he thinks the colleges are helping America, all I get is a shrug and a look from him that says he doesn't care. That or he tells me "Well I really can't tell you all of what I know." Haha, it's awesome when you consider the scope of what has been done since say 1995 or so. I can't see how America can pull back the stick on this nosedive.
Anonymous Coward
User ID: 6814653
Australia
11/29/2012 03:46 AM
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Re: WTF? 90-Day Chart Of Student Loan-Defaults Goes Parabolic!
you don't have to start paying them back here untill after the first year you earn above

$40, 000.
 Quoting: Anonymous Coward 28659966


We shouldn't have to pay anything. Education should never have been industrialised. They could have kept it small, only taken the best then moved those few into jobs where they actually use their learning (instead of what now happens where hard sciences come out of uni and don't so much as do trigonometry ever again). Train the rest sensibly and cheaply in technical college for actual work.

But no, they had to "raise the education level". Or "make education pay". Sickening, so obviously a sell-out and cop-out.
Anonymous Coward
User ID: 28658252
Argentina
11/29/2012 03:47 AM
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Re: WTF? 90-Day Chart Of Student Loan-Defaults Goes Parabolic!
Why is WTF in the subject line? Is it really a surprise that student loan debt is being defaulted on at an ever-increasing rate during an ever-worsening, manufactured depression?
STARLING
godlike productions

User ID: 24761896
United States
11/29/2012 03:53 AM

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Re: WTF? 90-Day Chart Of Student Loan-Defaults Goes Parabolic!
If you're a bank, you can discharge trillons in debt by being bailed out. If you're a business, you can discharge bad debt as uncollectable or can claim bankruptcy. Ordinarily as an individual you can discharge debt this way on almost all loans except student loans. It makes zero sense.
 Quoting: Anonymous Coward 1110734

None of those discharged debts make any sense, but look at who is running the country.
Hardwired

User ID: 28696079
United States
11/29/2012 04:03 AM

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Re: WTF? 90-Day Chart Of Student Loan-Defaults Goes Parabolic!
Went into default when maximum forebearance was reached... My wages are being garnished and I make min wage.

I double majored in Science and held a 4.0. I would gladly repay, but since I can barely find work to support food and shelter, that isn't going to happen any time soon. Especially since they are taking 25% of 7.75 now.
 Quoting: Anonymous Coward 23639945


You should get a fake ID and start over, but since that is probably illegal, maybe you shouldn't.peace
Anonymous Coward
User ID: 1271534
United States
11/29/2012 04:05 AM
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Re: WTF? 90-Day Chart Of Student Loan-Defaults Goes Parabolic!
Went into default when maximum forebearance was reached... My wages are being garnished and I make min wage.

I double majored in Science and held a 4.0. I would gladly repay, but since I can barely find work to support food and shelter, that isn't going to happen any time soon. Especially since they are taking 25% of 7.75 now.
 Quoting: Anonymous Coward 23639945


is there seriously a max forbearance? I've been on forebearance for my small amount (1 semester I actually took loans for) for like much of the past 10 years...I was seriously wondering when they are cutting me off...then again, i only owe maybe 6k
Anonymous Coward
User ID: 1271534
United States
11/29/2012 04:08 AM
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Re: WTF? 90-Day Chart Of Student Loan-Defaults Goes Parabolic!
you don't have to start paying them back here untill after the first year you earn above

$40, 000.
 Quoting: Anonymous Coward 28659966


We shouldn't have to pay anything. Education should never have been industrialised. They could have kept it small, only taken the best then moved those few into jobs where they actually use their learning (instead of what now happens where hard sciences come out of uni and don't so much as do trigonometry ever again). Train the rest sensibly and cheaply in technical college for actual work.

But no, they had to "raise the education level". Or "make education pay". Sickening, so obviously a sell-out and cop-out.
 Quoting: Anonymous Coward 6814653




so you think just because someone got a 3.2 instead of a 4.0 avg they should be held back from exploring their dreams?
Anonymous Coward
User ID: 9968554
United States
11/29/2012 04:10 AM
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Re: WTF? 90-Day Chart Of Student Loan-Defaults Goes Parabolic!
Good. Amerika deserves this. Forcing people to pay thousands of dollars for mostly BS degreess so thay can get a job. The degree has been called and it BS. Unless your degree is in the hard sciences or phs it is worthless. A indoctrinated useless monkey. Most can thank the dykes for their useless education. Meanwhile everyone else on the blobe was focused on sciene and math.
Anonymous Coward
User ID: 1271534
United States
11/29/2012 04:12 AM
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Re: WTF? 90-Day Chart Of Student Loan-Defaults Goes Parabolic!
Good. Amerika deserves this. Forcing people to pay thousands of dollars for mostly BS degreess so thay can get a job. The degree has been called and it BS. Unless your degree is in the hard sciences or phs it is worthless. A indoctrinated useless monkey. Most can thank the dykes for their useless education. Meanwhile everyone else on the blobe was focused on sciene and math.
 Quoting: Anonymous Coward 9968554


I don't think the experience of college or university, if handled by a mature enough person is ever a waste.

I worked with plenty of people that didn't get degrees, or only 2 year degrees...they were typically of a very much lower IQ level than people with Bachelors +
Anonymous Coward
User ID: 9399003
United States
11/29/2012 05:28 AM
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Re: WTF? 90-Day Chart Of Student Loan-Defaults Goes Parabolic!
Good. Amerika deserves this. Forcing people to pay thousands of dollars for mostly BS degreess so thay can get a job. The degree has been called and it BS. Unless your degree is in the hard sciences or phs it is worthless. A indoctrinated useless monkey. Most can thank the dykes for their useless education. Meanwhile everyone else on the blobe was focused on sciene and math.
 Quoting: Anonymous Coward 9968554


I don't think the experience of college or university, if handled by a mature enough person is ever a waste.

I worked with plenty of people that didn't get degrees, or only 2 year degrees...they were typically of a very much lower IQ level than people with Bachelors +
 Quoting: Anonymous Coward 1271534


And I've met people with degrees that were total morons... It goes both ways.

This is the problem with America. Everyone bases everybody else's worth off some piece of paper. It's fucking sad really... Congratulations!! You paid of bunch of money and wrote a bunch of shitty papers and got completely smashed every weekend and forgot most of it within the first year of graduation. You are now ready to be a professional and consider yourself "Educated."

People don't really need to demonstrate a true mastery in any subject. They just need to have a lot money.

Degrees are a fucking joke.
Devoted Follower
User ID: 28055738
United States
11/29/2012 06:09 AM
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Re: WTF? 90-Day Chart Of Student Loan-Defaults Goes Parabolic!
Good. Amerika deserves this. Forcing people to pay thousands of dollars for mostly BS degreess so thay can get a job. The degree has been called and it BS. Unless your degree is in the hard sciences or phs it is worthless. A indoctrinated useless monkey. Most can thank the dykes for their useless education. Meanwhile everyone else on the blobe was focused on sciene and math.
 Quoting: Anonymous Coward 9968554


Are you trying to say that my degree in basket weaving is completely useless?!?!?

Oh noes!!!!

5a
Anonymous Coward
User ID: 25020296
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11/29/2012 06:37 AM
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Re: WTF? 90-Day Chart Of Student Loan-Defaults Goes Parabolic!
Is that you Andy Katzenmoyer?
Anonymous Coward
User ID: 1431957
United States
11/29/2012 06:42 AM
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Re: WTF? 90-Day Chart Of Student Loan-Defaults Goes Parabolic!
Don't know why. The income based repayment program is awesome. If you have 0 income you pay 0. Loans wiped away in 10 years of on time payments. Zooooom.
Anonymous Coward
User ID: 24056770
United States
11/29/2012 06:50 AM
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Re: WTF? 90-Day Chart Of Student Loan-Defaults Goes Parabolic!
Don't know why. The income based repayment program is awesome. If you have 0 income you pay 0. Loans wiped away in 10 years of on time payments. Zooooom.
 Quoting: Anonymous Coward 1431957


Except that the requirement is that you work in public service, military of law enforcement for the 10 years and then have to make payments based on your salary/wage. But some of those jobs pay quite well and it is faster/easier just repaying them at that point.
Anonymous Coward
User ID: 20541213
United States
11/29/2012 06:50 AM
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Re: WTF? 90-Day Chart Of Student Loan-Defaults Goes Parabolic!
Why has Congress never stopped the outrageous interest
charged by the banks...(credit card companies)?
Anonymous Coward
User ID: 11013029
United States
11/29/2012 06:54 AM
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Re: WTF? 90-Day Chart Of Student Loan-Defaults Goes Parabolic!
They'll just cancel out the bubble with Bernanke's unlimited printing press of QE. He'll print the money for Sallie Mae defaulted loans. And after Sallie Mae gets paid back with free money from the Fed they'll still go after the original debtor to collect. Anything paid back by the original debtor will be pure profit. Quite a nice business model eh?
 Quoting: PCTPrepper




there it is^^^^^^^ then it's 20 dollar loaf of bread time.






snake eating own tail has sh1t breath.

`ole irish proverb
Anonymous Coward
User ID: 26646277
United States
11/29/2012 06:56 AM
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Re: WTF? 90-Day Chart Of Student Loan-Defaults Goes Parabolic!
I defaulted years ago. Life went on, havent worked and wont. On strike.
 Quoting: Anonymous Coward 24210762


Where do you get rent and food?
Anonymous Coward
User ID: 6814653
Australia
11/29/2012 07:01 AM
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Re: WTF? 90-Day Chart Of Student Loan-Defaults Goes Parabolic!
you don't have to start paying them back here untill after the first year you earn above

$40, 000.
 Quoting: Anonymous Coward 28659966


We shouldn't have to pay anything. Education should never have been industrialised. They could have kept it small, only taken the best then moved those few into jobs where they actually use their learning (instead of what now happens where hard sciences come out of uni and don't so much as do trigonometry ever again). Train the rest sensibly and cheaply in technical college for actual work.

But no, they had to "raise the education level". Or "make education pay". Sickening, so obviously a sell-out and cop-out.
 Quoting: Anonymous Coward 6814653




so you think just because someone got a 3.2 instead of a 4.0 avg they should be held back from exploring their dreams?
 Quoting: Anonymous Coward 1271534


Stopped from exploring their dreams with a paid-for tertiary education - yes. There is no societal point, these mediocre people will be next to useless and going nowhere in their professional specialisation, because they are not the best. Much better for them to be skilled rationally.

If they say want to pay, they should be told not a good idea, and then let take the course at full cost, while being _kept to the standard of the rest_. But allowing them in carries a genuine risk of damaging the quality of output and future work prospects for students selected on scholarly merit, so it would have to be watched like a hawk.
truth
User ID: 28681231
United States
11/29/2012 07:22 AM
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Re: WTF? 90-Day Chart Of Student Loan-Defaults Goes Parabolic!
It figured it out


There will be a big PR-push of how this is all going to come crashing down immediately, taking the whole economy with it

Then the blacks and Mexicans we be let out of their obligations because they're oppressed
 Quoting: Anonymous Coward 28256524


They can say anything they want as long as they cancel my $65k of debt. The good thing in all this is that no more frivolous lending will take place. That will decrease the number of people going to college, thus making college degrees valuable again.
 Quoting: Anonymous Coward 28385751


And once again causing the people to drop their childish toys and beer bottles; pick up the tools of adulthood, sweat, engage brain, strengthen back and loin, and use hands and fingers. It will cause Corporate Society to go back to the apprentice-accepting practice instead of being the infectious parasite theyhavebeen on our back for many generations.
Anonymous Coward
User ID: 21425114
United States
11/29/2012 07:38 AM
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Re: WTF? 90-Day Chart Of Student Loan-Defaults Goes Parabolic!
The "anyone can afford college" bubble.

I expect the lender bailout to work like this....
Defaulted student loan debt counts as income during a single year.
This will increase income by tens of thousands in untaxed income.
Debtors now owe the taxes at a rate of 15%-25% on the loan.
The IRS now owns the soul of the debtor and ALWAYS collects on its obligations.
But don't worry about the lender... their bailout will come from the taxes collected.
Both GovCo and the lender will both make out in the end.
Serendipity
User ID: 27884055
United States
11/29/2012 08:11 AM
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Re: WTF? 90-Day Chart Of Student Loan-Defaults Goes Parabolic!
The Federal gov't has been packaging the school loans and selling them on the open market just like the home loans. All profit goes straight into the politicians pockets. That is why you cannot discharge them in bankruptcy, ever.

Now, these investment trusts aren't worth the paper they are printed on.

May they all go down in flames.

The entire school loan system is nothing but fraud and theft of the American people....just more of the same.

I sincerely hope that ALL school loans go into default.
Anonymous Coward
User ID: 12827355
United States
11/29/2012 08:32 AM
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Re: WTF? 90-Day Chart Of Student Loan-Defaults Goes Parabolic!
What kind of society saddles it's future with unescapable debt?
Anonymous Coward
User ID: 2920706
United States
11/29/2012 08:33 AM
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Re: WTF? 90-Day Chart Of Student Loan-Defaults Goes Parabolic!
With 22k in sallie mae debt right now, I'm really glad I didn't stay in college more than the year and a half that I did after I realized what a scam it was.

I owe a second new car rather than a second new house.

I was within 10 days of defaulting once, decided to pay it all back up to keep them off my backs and calling literally everyone in my family.

While I am ever so slightly better off today, I some times wish I would have just defaulted and stopped working so I could mooch off the dole and stick the gov on the hook for that cash, or simply moved out of country and told them to shove it.
stormer

User ID: 26697102
South Africa
11/29/2012 08:36 AM

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Re: WTF? 90-Day Chart Of Student Loan-Defaults Goes Parabolic!
rex
Emancipate yourselves from mental slavery - Bob Marley
truth
User ID: 28681231
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11/29/2012 09:58 AM
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Re: WTF? 90-Day Chart Of Student Loan-Defaults Goes Parabolic!
+ + +
The realistic reason of why “college” isnot working is because it was meant to be a filtering-down system. Itwasnever meant to prepare anyone for a “job“, but to be a “job” as a professional w/a “shingle” proudly hung on his front door: a doctor who hires a person to be his apprentice/nurse, who hires an apprentice, who hires an apprentice; a lawyer who hires an apprentice/secretary who hires an apprentice, who hires an apprentice; an engineer/technition and scientist who hire the masses, to learn, do and teach skills to make all manner of stuff for the world; the teacher who teaches the 3 R’s (reading, ‘riting and ‘rithmatic), not ball playing, or running, jumping, swimming etc, which children should already know how to do by time they get to the first grade, and so on.- and, alas, that was my life, and how it was, but which hasnow vanished into everyman-is-an-island, and just as unfulfilled, useless and utterly empty, sitting motionless, with a hardened, blank stare, into some kind of electric monitor, except for when being lead around by a ring in there nose.

As it is now you go to college to learn how to earn money: big money; bigger and better than those fellow Americans that donot go to college, for the soul purpose of living a snobbish, selfish, pampered, gluttonous life style of quantity-of-life instead of a serene quality-of-life and nurturing.

Jesus was a rich man, who came from a rich family: they all were a construction company/family, and thatis how it should be . . . A lot like the Ben Laden family:

So there basically, in the confines of college-life, you have the blind leading the blind, and the inmates are in charge of the asylum . . . and you expect SUCCESS to come out of this bucket of worms ? ? ?

John 8:32
King James Version (KJV)
32 And ye shall know the truth, and the truth shall make you free:
Why 9/11?
"This attack on Iraq is part of a new crusade to prepare the region, after dividing it,
for the creation of a Greater Israel. This means the whole region will be ruled by Jews."
--- bin Laden
[link to www.apfn.org]
Anonymous Coward
User ID: 28071438
United States
11/29/2012 10:09 AM
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Re: WTF? 90-Day Chart Of Student Loan-Defaults Goes Parabolic!
Maybe the sheeple in this country need to look at it a different way.

The cost of education has sky rocketed since the 1970/1980s

Why does it need to bankrupt a person to attain a simple bachelors degree in this country.

Some people still think we are this best country : well, are we really??

If I was born in several other countries; France or sweden...I could get a bachelors degree paid for...by their government.


The sheep in this country need to demand better for themselves and their children or it is just going to get worse.


I graduated with a bachelors in Nursing from a good school in 1989. The entire degree cost me 10,000 dollars.


Today, you can't even get a associates degree for that price.
Anonymous Coward
User ID: 28687486
United States
11/29/2012 10:13 AM
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Re: WTF? 90-Day Chart Of Student Loan-Defaults Goes Parabolic!
'Pound of flesh' ring a bell?

America's railroads were built by INDENTURED CHINESE...look it up! If you don't KNOW your own history, you're DOOMED to repeat it...

I wonder what all you recent college-loan graduates will be building in CHINA! Now you know why the 'ghost cities'in China were built!
Anonymous Coward
User ID: 17894339
United States
11/29/2012 10:17 AM
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Re: WTF? 90-Day Chart Of Student Loan-Defaults Goes Parabolic!
Who cares just print more monopoly money. Its all debt anyhow. Money is created on debt.

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