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Link Posted: 9/10/2013 6:37:18 AM EDT
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It's sad to see these kids take loans to go to cooking and art schools.  And then they're saddled with debt.  
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How so ?  They decided on their major. If you fail to research the job prospects of the degree you're looking at, that's your problem.  Four year culinary degree ?  Great, welcome to the Applebee's family.  The kitchen is back there.
Link Posted: 9/10/2013 6:37:28 AM EDT
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Never happen.  Gotta support expansion of liberal empires at all expense and cost. Progressive institutions with a small side order of communist indoctrination/learning.
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Maybe someone will finally hold univiserties accountable for what they charge?


Never happen.  Gotta support expansion of liberal empires at all expense and cost. Progressive institutions with a small side order of communist indoctrination/learning.


Fixed it for you.
Link Posted: 9/10/2013 6:38:23 AM EDT
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Good.
Not everyone needs to go to college.
http://www.youtube.com/watch?v=dJ1FeBF_1p0
 



http://www.youtube.com/watch?v=eiRGRvE_Wqg


Link Posted: 9/10/2013 6:38:34 AM EDT
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...I still think they should burn for selling shitty bundled stocks based on shitty irresponsible home loans.   One way to pass on the crap that Congress stuck in their lap though.
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Who should really be burned are the Federal regulators who gave them their wink-wink, nudge-nudge tacit approval to do so.
Link Posted: 9/10/2013 6:38:51 AM EDT
My wife and I were going to pay off a bunch of student loans and reduce our debt and such (we've got a chunk of cash) but decided to wait in case there's some "forgiveness" stupidity coming down the pipe.
Link Posted: 9/10/2013 6:39:02 AM EDT
I'm slowly whittling away at my $40,000.00 loan. I pay what I can, when I can. I suspect most don't though. I thought defaulting on student loans was financial suicide?
Link Posted: 9/10/2013 6:39:17 AM EDT
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I don't disagree. However, people/student know up front what a particular school is going to charge. Nobody is forcing them to enroll and incur debt. They could take fewer hours per semester, work a little more, and have no debt. It may take a little longer, but they'll have no debt. It will also make them think a little before they get that $200,000 women's studies degree that won't pay the bills when they graduate unless they get a job teaching that very subject at the college level.
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Maybe someone will finally hold univiserties accountable for what they charge?


I don't see universities on the corner with guns forcing students to pay to go to school. If the student can't afford to pay his/her way out of pocket (or their parents can't afford it), there are ways to go to school without incurring student loan debt.

I paid my way through school by working all four years. I also went to school all 3 semesters a year. There's no reason students today can't do the same thing. The problem is that in order to do that, it would require a full time commitment to work and school. Kids today don't want that. They think everything should be given to them. They've been taught that by today's society and its "everyone gets a trophy" mentality so the thought that they may have to actually work to accomplish what they want is a foreign concept.

I don't blame the banks either. If you were the CEO of a company and saw the .gov sticking its hand in everyone's business forcing them to take a loss (mortgage refi's at below loan balance), would you want to risk your capital (or your shareholders) to loan money in an environment when 'ol Jugears is mentioning student loan forgiveness?


Yes - but to deny there isn't an "educational industrial complex" is just plain foolish. Gov't grants to colleges are used for research purposes, not towards tuition. the Schools have to pay for all that other crap somehow....


I don't disagree. However, people/student know up front what a particular school is going to charge. Nobody is forcing them to enroll and incur debt. They could take fewer hours per semester, work a little more, and have no debt. It may take a little longer, but they'll have no debt. It will also make them think a little before they get that $200,000 women's studies degree that won't pay the bills when they graduate unless they get a job teaching that very subject at the college level.


This, I don't blame the colleges or the lenders.
Link Posted: 9/10/2013 6:40:20 AM EDT
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I would love to see more schools end tenure and make profs earn their keep.

There is so much dead weight in most universities, tenured profs that have a TA teach their classes and just navel-gaze in a paper-piled office all day. They bring NO income to the campus by their actions, and have no performance requirements. Which is why they write drivel disconnected from the real world that becomes public policy.
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Maybe someone will finally hold univiserties accountable for what they charge?


This is a big part of the problem

But what started it?

Schools started charging more so people had to take out more loans?  Or did loans become easier to get, which allowed more people to get them/go to college and in turn the schools started charging more so they could expand to take in more students/money?


I would love to see more schools end tenure and make profs earn their keep.

There is so much dead weight in most universities, tenured profs that have a TA teach their classes and just navel-gaze in a paper-piled office all day. They bring NO income to the campus by their actions, and have no performance requirements. Which is why they write drivel disconnected from the real world that becomes public policy.


they write grant proposals (sometimes)
Link Posted: 9/10/2013 6:40:53 AM EDT
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My wife and I were going to pay off a bunch of student loans and reduce our debt and such (we've got a chunk of cash) but decided to wait in case there's some "forgiveness" stupidity coming down the pipe.
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Are you planning on participating in some type of .gov loan forgiveness program?  If you do you would become a card carrying member of the FSA.
Link Posted: 9/10/2013 6:41:00 AM EDT
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There's an easy fix to the student loan crisis: make the debt dischargeable in bankruptcy. It won't ever happen, but this would cause lenders to be much more strict in their underwriting.
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NO, I paid mine and so should they.
Link Posted: 9/10/2013 6:42:31 AM EDT
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Lame reasoning.  Student loans are the mother's milk of something.
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"Socialism" is the word you are looking for.
Link Posted: 9/10/2013 6:42:39 AM EDT
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So who thinks this leads down a road to where the gov will forgive student loans?
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Link Posted: 9/10/2013 6:43:23 AM EDT
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The University of Miami can charge 35,000 per year for an undergraduate degree because of student loans.

The cheap, non-dischargeable money from the government has caused tuition hikes.
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Link Posted: 9/10/2013 6:43:37 AM EDT
Talking with some guys last night about houses, loans, etc.  One guy bought his house is 2008 for 178K.  Had it appraised a short time back for a refi, appraisal comes in at 102K.  Bank says no refi and rightly so.

A few months ago he gets a call from the bank saying he now qualifies for some some super duper federal loan program.  Appraisal magically comes in at 132K and the bank refi's him from 7% down to 3.25%.

Yeaaaa for the magic money.
Link Posted: 9/10/2013 6:44:27 AM EDT
JP Morgan is not a federal student loan servicer, which means they don't handle .gov loans. Federal student loans account for the vast majority of all student loans taken. They are a far, far better financial option than private student loans (which is what JP Morgan handled).

I don't see this as a significant indicator of much of anything. When SallieMae decides to exit the business, it has THEN gone full retard / time to panic.
Link Posted: 9/10/2013 6:44:43 AM EDT
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Chase is getting out of the student loan business because Obama is sticking his nose into and the rumors of student loan forgiveness.  With Obama's track record of forcing mortgage companies to refinance homes for less than is owed it set a precedent for the government to step in and force businesses to take a loss.  Factor in all the FSA complaining about their $90,000 student loan debt for an art history degree and not able to find a job and it is easy to see how the same scenario would play out.
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No, JPMC is just going the same way many other private lenders did after 2010 when the government ended its guarantee on newly issued private student loans.  Its a far riskier business, as both an issuer/lender of private loans or as a buyer/investor of the securitized loan debt built from those loans when Uncle Sugar isn't going to guarantee the underlying loans get paid.
Link Posted: 9/10/2013 6:45:18 AM EDT
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Talking with some guys last night about houses, loans, etc.  One guy bought his house is 2008 for 178K.  Had it appraised a short time back for a refi, appraisal comes in at 102K.  Bank says no refi and rightly so.

A few months ago he gets a call from the bank saying he now qualifies for some some super duper federal loan program.  Appraisal magically comes in at 132K and the bank refi's him from 7% down to 3.25%.

Yeaaaa for the magic money.
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Spotted your problem
Link Posted: 9/10/2013 6:45:31 AM EDT
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NO, I paid mine and so should they.
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There's an easy fix to the student loan crisis: make the debt dischargeable in bankruptcy. It won't ever happen, but this would cause lenders to be much more strict in their underwriting.


NO, I paid mine and so should they.


Link Posted: 9/10/2013 6:46:52 AM EDT
This isn't Obama.  Don't get me wrong, he's part of the problem, but it's not him.

The fact that student loans are, in large part, guaranteed by the gov't allows allows lender to lend to whomever, wherever, whenever with no consequence from the risk involved.

The universities, knowing this, can charge whatever they want, knowing that the students will get the loans to go to college.

This is amplified by the fact that the mentality of today is that you MUST go to college, no matter what the major or what your life goal is.  YOU MUST GO!

Couple this with one of the largest, if not the largest drawdown in the labor force in the last century and you've got a student loan debt crisis staring you in the face.  There simply aren't enough jobs for the "college graduates" to fill.


The housing bubble, on the other hand, is pure stupidity, or desparation, or both by Bernanke and Co.  We just went through this in the last 13 years and he set up near the exact conditions to fuel another bubble to get out of the last bubble.  Cue Ensteins's quote of doing the same thing over and over............
Link Posted: 9/10/2013 6:47:59 AM EDT
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I'm slowly whittling away at my $40,000.00 loan. I pay what I can, when I can. I suspect most don't though. I thought defaulting on student loans was financial suicide?
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YOU CANT!!
Link Posted: 9/10/2013 6:48:11 AM EDT
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The University of Miami can charge 35,000 per year for an undergraduate degree because of student loans.

The cheap, non-dischargeable money from the government has caused tuition hikes.




This should be quoted again. When in school my tuition started going up significantly each semester for the last year and a half. Before that it was very minor increases, then it was 300, then 400, then 600, and then I graduated so I have no clue how high it is now. But they were able to continue getting the increases so they kept pushing the envelope. The government made this all possible by getting involved. You could also see the demographics of the student body shifting towards the end.
Link Posted: 9/10/2013 6:48:43 AM EDT
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But what started it?

Schools started charging more so people had to take out more loans?  Or did loans become easier to get, which allowed more people to get them/go to college and in turn the schools started charging more so they could expand to take in more students/money?
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Maybe someone will finally hold univiserties accountable for what they charge?


This is a big part of the problem

But what started it?

Schools started charging more so people had to take out more loans?  Or did loans become easier to get, which allowed more people to get them/go to college and in turn the schools started charging more so they could expand to take in more students/money?


There's plenty of blame to go around.

School is much more expensive then it used to be. College's "need" to have new buildings and facilities. Professors are over paid.
Student loans are given out to everyone, and everyone is pushed to go to college with unreasonable expectations.
Lender's aren't on the hook with student loans being non-dischargable

I guess I should have stared a for profit college.
Link Posted: 9/10/2013 6:48:44 AM EDT
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No, JPMC is just going the same way many other private lenders did after 2010 when the government ended its guarantee on newly issued private student loans.  Its a far riskier business, as both an issuer/lender of private loans or as a buyer/investor of the securitized loan debt built from those loans when Uncle Sugar isn't going to guarantee the underlying loans get paid.
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Chase is getting out of the student loan business because Obama is sticking his nose into and the rumors of student loan forgiveness.  With Obama's track record of forcing mortgage companies to refinance homes for less than is owed it set a precedent for the government to step in and force businesses to take a loss.  Factor in all the FSA complaining about their $90,000 student loan debt for an art history degree and not able to find a job and it is easy to see how the same scenario would play out.


No, JPMC is just going the same way many other private lenders did after 2010 when the government ended its guarantee on newly issued private student loans.  Its a far riskier business, as both an issuer/lender of private loans or as a buyer/investor of the securitized loan debt built from those loans when Uncle Sugar isn't going to guarantee the underlying loans get paid.


Also consider that many private student loans can be discharged in bankruptcy.

Private loans are riskier for both the student and the lender. It's easy to see why the business is not very big, and I'm not the least bit surprised JPMC has found a better use of its resources.
Link Posted: 9/10/2013 6:48:52 AM EDT
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NO, I paid mine and so should they.
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There's an easy fix to the student loan crisis: make the debt dischargeable in bankruptcy. It won't ever happen, but this would cause lenders to be much more strict in their underwriting.


NO, I paid mine and so should they.


I agree that loans that have already been made should not be forgiven or made dischargeable. Heck, 5 years ago I had 92k in loans and I've managed to get it down to 9,500 as of yesterday's payment. That said, if they made new loans dischargeable, it would be much harder to qualify, the loans would have higher interest rates,  and would reduce the number of college students. That would cause competition for students to go up and tuition to go down.
Link Posted: 9/10/2013 6:49:25 AM EDT
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So who thinks this leads down a road to where the gov will forgive student loans?
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 I would just like to thank the OP and the other posters on this board for so graciously paying off my student loans!  
Link Posted: 9/10/2013 6:50:11 AM EDT
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It's sad to see these kids take loans to go to cooking and art schools.  And then they're saddled with debt.  
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It's sad to see ignorant adults pound 'you gotta go to college' into inexperienced kid's heads.  There is nary a debate about the virtues of NOT going to college.

I worked my way through college and came through unscathed.  Hindsight......it was a waste of my time and money.  I would not do it again.
Link Posted: 9/10/2013 6:50:52 AM EDT
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I agree that loans that have already been made should not be forgiven or made dischargeable. Heck, 5 years ago I had 92k in loans and I've managed to get it down to 9,500 as of yesterday's payment. That said, if they made new loans dischargeable, it would be much harder to qualify, the loans would have higher interest rates,  and would reduce the number of college students. That would cause competition for students to go up and tuition to go down.
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There's an easy fix to the student loan crisis: make the debt dischargeable in bankruptcy. It won't ever happen, but this would cause lenders to be much more strict in their underwriting.


NO, I paid mine and so should they.


I agree that loans that have already been made should not be forgiven or made dischargeable. Heck, 5 years ago I had 92k in loans and I've managed to get it down to 9,500 as of yesterday's payment. That said, if they made new loans dischargeable, it would be much harder to qualify, the loans would have higher interest rates,  and would reduce the number of college students. That would cause competition for students to go up and tuition to go down.


No no no, we can't actually think about the market implications of making debt dischargeable. We just need to be typical 'Mericans and do the same stupid fucking thing over and over while hoping for a different outcome.
Link Posted: 9/10/2013 6:51:11 AM EDT
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I'm slowly whittling away at my $40,000.00 loan. I pay what I can, when I can. I suspect most don't though. I thought defaulting on student loans was financial suicide?
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I still have a loan I'm paying down as well.  Defaulting on a student loan is bad mojo for sure but they make it really easy to not do that - they will work with you.  If zero forgives student loans I'll be able to benefit from that but that's a whole other can of worms.
Link Posted: 9/10/2013 6:51:15 AM EDT
I've heard stories of baby boomers being able to work nights/weekends to put themselves through college. Doesn't seem to work like that anymore.
Link Posted: 9/10/2013 6:51:16 AM EDT
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You would think that the student loan amounts would be based on the marketable skills one can learn in the clases taken.

No different than getting a business loan IMHO. Risk taken for future profit. If your business model sucks then no loan for you. The same logic should apply for student loans. If you want a degree in music then you are on your own hook.

Speaking for myself I'd be more inclined to loan $$$ to someone going after the degrees you and your wife went after than someone going after a liberal arts degree. I'd only loan one year at a time too and would need to see the student's grades before extending them another loan.

Silly me, that would be responsible lending.  




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You have to take the bad with the good.  The whole reason for a degree is to make a well rounded individual.    Thus everyone no matter if they are in underwater basketweaving or engineering have to sit thru Literature classes where they have to write papers comparing and contrasting Northeastern US Minority Feminist poetry.....There is no "Return" on a class like that, at least not in a way that can be measured using metrics or some other business buzzword of the day.

Now perhaps we should get back to a point in our society where some people get to go to college, and others get apprenticed when they are 12 years old to become a grinder.


Link Posted: 9/10/2013 6:51:21 AM EDT
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There's plenty of blame to go around.

School is much more expensive then it used to be. College's "need" to have new buildings and facilities. Professors are over paid.
Student loans are given out to everyone, and everyone is pushed to go to college with unreasonable expectations.
Lender's aren't on the hook with student loans being non-dischargable

I guess I should have stared a for profit college.
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Maybe someone will finally hold univiserties accountable for what they charge?


This is a big part of the problem

But what started it?

Schools started charging more so people had to take out more loans?  Or did loans become easier to get, which allowed more people to get them/go to college and in turn the schools started charging more so they could expand to take in more students/money?


There's plenty of blame to go around.

School is much more expensive then it used to be. College's "need" to have new buildings and facilities. Professors are over paid.
Student loans are given out to everyone, and everyone is pushed to go to college with unreasonable expectations.
Lender's aren't on the hook with student loans being non-dischargable

I guess I should have stared a for profit college.

Lichter International University.  Mascot:  The Unamused Banana.  It'll just kinda stand there on the sidelines at sporting events.  Completely unamused by anything.
Link Posted: 9/10/2013 6:51:33 AM EDT
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This isn't Obama.  Don't get me wrong, he's part of the problem, but it's not him.

The fact that student loans are, in large part, guaranteed by the gov't allows allows lender to lend to whomever, wherever, whenever with no consequence from the risk involved.

The universities, knowing this, can charge whatever they want, knowing that the students will get the loans to go to college.

This is amplified by the fact that the mentality of today is that you MUST go to college, no matter what the major or what your life goal is.  YOU MUST GO!

Couple this with one of the largest, if not the largest drawdown in the labor force in the last century and you've got a student loan debt crisis staring you in the face.  There simply aren't enough jobs for the "college graduates" to fill.
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QFT
Link Posted: 9/10/2013 6:52:56 AM EDT
When universities start getting desperate, you'll see them close down the community college "loophole" that's becoming very popular-you do your 100-200 level courses there for low tuition, and transfer your junior year to the "brand name" college for your 300 and 400 level courses and the prestigious name on your degree.
Link Posted: 9/10/2013 6:53:57 AM EDT
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Lichter International University.  Mascot:  The Unamused Banana.  It'll just kinda stand there on the sidelines at sporting events.  Completely unamused by anything.
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Quoted:
Quoted:
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Maybe someone will finally hold univiserties accountable for what they charge?


This is a big part of the problem

But what started it?

Schools started charging more so people had to take out more loans?  Or did loans become easier to get, which allowed more people to get them/go to college and in turn the schools started charging more so they could expand to take in more students/money?


There's plenty of blame to go around.

School is much more expensive then it used to be. College's "need" to have new buildings and facilities. Professors are over paid.
Student loans are given out to everyone, and everyone is pushed to go to college with unreasonable expectations.
Lender's aren't on the hook with student loans being non-dischargable

I guess I should have stared a for profit college.

Lichter International University.  Mascot:  The Unamused Banana.  It'll just kinda stand there on the sidelines at sporting events.  Completely unamused by anything.


You can be dean or something
Link Posted: 9/10/2013 7:00:40 AM EDT
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Talking with some guys last night about houses, loans, etc.  One guy bought his house is 2008 for 178K.  Had it appraised a short time back for a refi, appraisal comes in at 102K.  Bank says no refi and rightly so.

A few months ago he gets a call from the bank saying he now qualifies for some some super duper federal loan program.  Appraisal magically comes in at 132K and the bank refi's him from 7% down to 3.25%.

Yeaaaa for the magic money.
View Quote



The magic money is what valued his home at 178K to begin with.  Prior to the bubble bursting in 2008 people were re-financing on inflating home values and the banks would allow them to take cash out of the deal while increasing their mortgage balance.

Right now, the banks have gone from injecting 80 billion in magic money into the economy each  month to 150 billion a month since April.  The US Treasury stopped counting debt totals in June.  

The few good guys there ever were are the folks that paid everything off while not voting for entitlements- and even they are likely indirect beneficiaries of government over-spending via stock values, payments on bankrupt entitlements, etc.  No one is clean in a socialist system, by design.
Link Posted: 9/10/2013 7:02:53 AM EDT
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The magic money is what valued his home at 178K to begin with.  Prior to the bubble bursting in 2008 people were re-financing on inflating home values and the banks would allow them to take cash out of the deal while increasing their mortgage balance.

Right now, the banks have gone from injecting 80 billion in magic money into the economy each  month to 150 billion a month since April.  The US Treasury stopped counting debt totals in June.  

The few good guys there ever were are the folks that paid everything off while not voting for entitlements- and even they are likely indirect beneficiaries of government over-spending via stock values, payments on bankrupt entitlements, etc.  No one is clean in a socialist system, by design.
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Talking with some guys last night about houses, loans, etc.  One guy bought his house is 2008 for 178K.  Had it appraised a short time back for a refi, appraisal comes in at 102K.  Bank says no refi and rightly so.

A few months ago he gets a call from the bank saying he now qualifies for some some super duper federal loan program.  Appraisal magically comes in at 132K and the bank refi's him from 7% down to 3.25%.

Yeaaaa for the magic money.



The magic money is what valued his home at 178K to begin with.  Prior to the bubble bursting in 2008 people were re-financing on inflating home values and the banks would allow them to take cash out of the deal while increasing their mortgage balance.

Right now, the banks have gone from injecting 80 billion in magic money into the economy each  month to 150 billion a month since April.  The US Treasury stopped counting debt totals in June.  

The few good guys there ever were are the folks that paid everything off while not voting for entitlements- and even they are likely indirect beneficiaries of government over-spending via stock values, payments on bankrupt entitlements, etc.  No one is clean in a socialist system, by design.




If I sign a contract in good faith, I pay what I owe.
Link Posted: 9/10/2013 7:03:21 AM EDT
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I've heard stories of baby boomers being able to work nights/weekends to put themselves through college. Doesn't seem to work like that anymore.
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Work can't compete with government largess or ever produce enough money to pay for it, hence where we are now.
Link Posted: 9/10/2013 7:05:20 AM EDT
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It won't ever happen, but this would cause lenders to be much more strict in their underwriting.
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Stricter underwriting?  Are you kidding?  That's racist . . . and only helps the educated/1%er/WHITE/affluent kids.

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Maybe someone will finally hold univiserties accountable for what they charge?
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Never happen.  Gotta support football/baseball/basketball/volleyball at all expense and cost.  Sporting institutions with a small side order of communist indoctrination/learning.
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The system is setup because of the easy money available to students.

Book companies are another conspiracy . . . move the chapters around, change the font, create a new edition and charge $100/book for it

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Talking with some guys last night about houses, loans, etc.  One guy bought his house is 2008 for 178K.  Had it appraised a short time back for a refi, appraisal comes in at 102K.  Bank says no refi and rightly so.

A few months ago he gets a call from the bank saying he now qualifies for some some super duper federal loan program.  Appraisal magically comes in at 132K and the bank refi's him from 7% down to 3.25%.

Yeaaaa for the magic money.
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Its called HARP.  Several commercials on the radio for it.
Link Posted: 9/10/2013 7:07:04 AM EDT
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If I sign a contract in good faith, I pay what I owe.
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As do I- but your bank likely doesn't.
Link Posted: 9/10/2013 7:07:18 AM EDT
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Tired of getting fucked by students who aren't going to pay?
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Student loan debt can't be discharged
Link Posted: 9/10/2013 7:08:32 AM EDT
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Student loan debt can't be discharged
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Tired of getting fucked by students who aren't going to pay?


Student loan debt can't be discharged


yea but people can just be poor their whole life and never able to pay
Link Posted: 9/10/2013 7:08:45 AM EDT
I thought that the .gov had removed government backed student loans from the market place.

IIRC, only 1 bank can now offer them to students.  This would mean JP Morgan will get out, because the .gov guarantee is no longer available.

TXL
Link Posted: 9/10/2013 7:09:47 AM EDT
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I thought that the .gov had removed government backed student loans from the market place.

IIRC, only 1 bank can now offer them to students.  This would mean JP Morgan will get out, because the .gov guarantee is no longer available.

TXL
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That is entirely incorrect.

Government-backed loans come out of the treasury now.
Link Posted: 9/10/2013 7:14:41 AM EDT
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Student loan debt can't be discharged
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Tired of getting fucked by students who aren't going to pay?


Student loan debt can't be discharged


There are supposedly even some baby boomers with garnishments for student loan debt being taken from their Social Security payments.
Link Posted: 9/10/2013 7:15:45 AM EDT
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Maybe someone will finally hold univiserties accountable for what they charge?
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That's just economics.  There is virtually an unlimited number of customers with virtually an unlimited supply of cash (government insured student loans).  If I were a business in that situation, I would see how much I could charge too.
Link Posted: 9/10/2013 7:16:56 AM EDT
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All tuition has been rising much faster than inflation or the cost of living for decades because of student loans.
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Maybe someone will finally hold univiserties accountable for what they charge?


This is a big part of the problem

You can't be serious.

No one is forcing anyone to go to an expensive school.  There are still reasonably priced state schools.


All tuition has been rising much faster than inflation or the cost of living for decades because of student loans.



No.  Not true.

Everything has become more expensive here, at college, too. Health care costs have risen, employee costs have risen, students services have risen, gasoline and energy prices have climbed.  All of those things that make it tough to run a household have made it tough to run the colleges.

My college has cut services.  We no longer have a Maintenance department here.  We out-sourced lawn care and trash pickup. We don't have a cafeteria (closed to save money) on my campus, even though our student population is almost 2000.  We no longer have a security guard, we hired off-duty uniformed cops through the local PD.

We've increased mandatory class sizes, we've skipped pay raises for faculty and staff.

Our enrollment had been trending upward, but for the last two semesters we have been seeing a decline in overall enrollment.

Our fees for labs are up.  Our parking permits, etc are more expensive.

What has not changed is the basic service.  Students are here, the lights are on, toilets are being flushed, computers are being used to do homework.

All of which means that we are running a skeleton crew as well while we hope the Socialist in Chief gets booted out.

TRG
Link Posted: 9/10/2013 7:17:55 AM EDT
You should check out The Market Ticker from time to time.  Denninger has done some really good research and writing on the "student loan bubble".

http://market-ticker.org/akcs-www?singlepost=2859595

http://market-ticker.org/akcs-www?singlepost=2898988

http://market-ticker.org/akcs-www?singlepost=3079559

Are some examples.
Link Posted: 9/10/2013 7:18:07 AM EDT
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No.  Not true.

Everything has become more expensive here, at college, too. Health care costs have risen, employee costs have risen, students services have risen, gasoline and energy prices have climbed.  All of those things that make it tough to run a household have made it tough to run the colleges.

My college has cut services.  We no longer have a Maintenance department here.  We out-sourced lawn care and trash pickup. We don't have a cafeteria on my campus, even though our student population is almost 2000.  We no longer have a security guard, we hired off-duty uniformed cops through the local PD.

We've increased mandatory class sizes, we've skipped pay raises for faculty and staff.

Our enrollment had been trending upward, but for the last two semesters we have been seeing a decline in overall enrollment.

Our fees for labs are up.  Our parking permits, etc are more expensive.

What has not changed is the basic service.  Students are here, the lights are on, toilets are being flushed, computers are being used to do homework.

All of which means that we are running a skeleton crew as well while we hope the Socialist in Chief gets booted out.

TRG
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I've had classes bigger than your college.

That might be the difference. Might.
Link Posted: 9/10/2013 7:19:13 AM EDT



It's ok, in true Dodd-Frank style, now the US Taxpayer will start footing the bill for student loans.
Link Posted: 9/10/2013 7:19:16 AM EDT
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This should be quoted again. When in school my tuition started going up significantly each semester for the last year and a half. Before that it was very minor increases, then it was 300, then 400, then 600, and then I graduated so I have no clue how high it is now. But they were able to continue getting the increases so they kept pushing the envelope. The government made this all possible by getting involved. You could also see the demographics of the student body shifting towards the end.
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The University of Miami can charge 35,000 per year for an undergraduate degree because of student loans.

The cheap, non-dischargeable money from the government has caused tuition hikes.




This should be quoted again. When in school my tuition started going up significantly each semester for the last year and a half. Before that it was very minor increases, then it was 300, then 400, then 600, and then I graduated so I have no clue how high it is now. But they were able to continue getting the increases so they kept pushing the envelope. The government made this all possible by getting involved. You could also see the demographics of the student body shifting towards the end.



Y'all's logic is flawed.

Are car loans the reason cars are so expensive?

TRG
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