I did all this. I worked 25-30 hrs a week, had an apartment, and had a grind of a degree to finish. My parents were always there if i needed help or advice. But I still made dumb decisions. I did not plan for the future or care about anything but myself. I don't feel like I became an adult till I was 30.An 18 year old who can enroll in college, stay in good standing there while working, pay their bills on time, and handle the daily issues of life on their own is a very rare thing to see.
Letting an 18-22-year-old saddle him/herself with 6 figures of student loan debt is dumb.
If only they had some parents to advise them through the process...A phased-in approach may not be the worst thing. Letting an 18-22-year-old saddle him/herself with 6 figures of student loan debt is dumb.
I still think that student loans should not be available for majors that cannot reasonably pay them back within 10 years, based on average salary data for that major. If you want to go to college to find yourself and major in underwater bb stacking, fine, just pay out of pocket.A phased-in approach may not be the worst thing. Letting an 18-22-year-old saddle him/herself with 6 figures of student loan debt is dumb.
I did see a report that he had been in contact with the team and it was a "personal matter". That seems encouraging.Like him or not we should hope he is ok.
Student loans should not be guaranteed by the government. Period. Would force colleges to be more competitive in tuition and fees charged and lenders wouldn't make loans to students or for degrees with too much risk of non-payment.I still think that student loans should not be available for majors that cannot reasonably pay them back within 10 years, based on average salary data for that major. If you want to go to college to find yourself and major in underwater bb stacking, fine, just pay out of pocket.
but would that mean students might have to stay in cinder block dorms? The horror...Student loans should not be guaranteed by the government. Period. Would force colleges to be more competitive in tuition and fees charged and lenders wouldn't make loans to students or for degrees with too much risk of non-payment.
yuup, I have same thoughts. Should also be based on the costs of a public college in your state and bankrupt-able.I still think that student loans should not be available for majors that cannot reasonably pay them back within 10 years, based on average salary data for that major. If you want to go to college to find yourself and major in underwater bb stacking, fine, just pay out of pocket.
I went to war with a bunch of 18-year-olds, and they were not kids. Not arguing your point. I was just pointing it out.Totally get that view, but as I have aged I have adjusted to viewing 18-22 year olds as being partial adults. Most 18yo kids who leave home and enroll into a college were able to do that because of the heavy assistance given to them by adults around them. Its a rare day for an 18yo to actually apply to college, figure out finances, plan for moving, move in, and get started at college without help from actual adults.
An 18 year old who can enroll in college, stay in good standing there while working, pay their bills on time, and handle the daily issues of life on their own is a very rare thing to see.
Most have some of that down, but not all of it. They reliably work, but they have no idea how to enroll into a college. They pay some bills, but ignore others. They buy groceries, but only some things. They will go to a dr appt, but if its a surgery consult they want a parent there to help guide. They are disciplined enough to exercise regularly, but they are late to a class every week.
Yada yada yada.
This isnt some 'this generation is soft' sort of commentary either. I wouldnt consider many of the people I knew in college 20+ years ago to be fully functioning adults.
They were adults in some ways and kids in some ways.
Also not arguing, just pointing out that I have a 66 year old uncle who is still a kid: can’t keep a job, can’t pay bills, etc.I went to war with a bunch of 18-year-olds, and they were not kids. Not arguing your point. I was just pointing it out.
Was he a Marine? Marine corps bootcamp will turn you into a man.Also not arguing, just pointing out that I have a 66 year old uncle who is still a kid: can’t keep a job, can’t pay bills, etc.
Yes, some at that age are ready and able to handle all aspects of life. Many arent.I went to war with a bunch of 18-year-olds, and they were not kids. Not arguing your point. I was just pointing it out.
They HAD to grow up and fastI went to war with a bunch of 18-year-olds, and they were not kids. Not arguing your point. I was just pointing it out.
Definitely not. I’ve know multiple people go to the armed forces and come back grown up.Was he a Marine? Marine corps bootcamp will turn you into a man.
This article was pushed to me a few days ago. Read it if you want to be triggered into a frothy rage.I still think that student loans should not be available for majors that cannot reasonably pay them back within 10 years, based on average salary data for that major. If you want to go to college to find yourself and major in underwater bb stacking, fine, just pay out of pocket.
Perfect. I had to put off my dream of having any disposable income until I paid off my student loans.This article was pushed to me a few days ago. Read it if you want to be triggered into a frothy rage.
Its a whiny complaint article where the author cries about how he has owed $36,000 in student loans for the last 6 or so years, chose to only make the minimum payment, and has paid nothing during the 3 years when there was a pause on student loan repayment. He saved that money with the intent to buy an airbnb rental in Florida(he is in NYC), but now that he has to again repay the loans he agreed to take out, he is pouting because his dream of owning an airbnb has to be put on hold while he pays off his education.
The article is filled with entitlement, obliviousness, and ignorance. Whats really hilarious is that he says he is close to his $30,000 savings goal for a downpayment on the airbnb property, but he is also regretful that he didnt save money during the repayment pause so he could pay his loans if/when they came due. He has almost $30k in savings!...just use that to pay the 17ing loans and be done!
He couldnt pay off $36k in student loans in almost 8 years time(he graduated in 2015 and says that he had to pay off his $35,000 debt after the grace period ended)? He has held a full time job this entire time and has saved almost $30k in the last 3 years.
His student loans are basically less than the cost of the average new vehicle purchase and he couldnt pay that off in 8 years.
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I've been saving for a down payment for my first house. Now that my student-loan repayments are starting again, I have to put my dreams on hold.
The author was able to save money for a house during the student-loan pause. But now he has to pay $350 a month.www.businessinsider.com
I still think that student loans should not be available for majors that cannot reasonably pay them back within 10 years, based on average salary data for that major. If you want to go to college to find yourself and major in underwater bb stacking, fine, just pay out of pocket.
Correct. The bank also won't do a 10 year loan on a '74 Pinto, etc. Student loans, as currently administered simply make no financial or common sense. I say that as a former recipient, who quite honestly just happened to like a major that made it possible for me to pay them back. I'm not certain that if I had chosen a major that would not earn me a living that I would have figured out that it was a bad idea. I think my dad would've told me I was an idiot, but I'm not certain.Well, in the real game of banking, if you make a bunch of stupid loans to people who can't pay them back, those become what are known as bad loans. Lots of those make you a failed bank. In the old days failed banks, just failed so that banking would hopefully weed out the stupid bankers.
Government backed banking is not like that. Because government creates new money to pay for it's stupidity.
I was never in the military (AF instead), but you must be WW2 aged, because since 1985, 18 year olds serving in all branches have been very immature and getting more immature up until i retired in 2017. There are 18 year olds these days who can barely take a shite without mom giving them direction, comfort and reassurance. Compare that to 100 years ago when 14 year olds were getting married and raising families on their own.I went to war with a bunch of 18-year-olds, and they were not kids. Not arguing your point. I was just pointing it out.
6 figure student loan debt is crazy anyway. Especially if their degree is more or less "useless".A phased-in approach may not be the worst thing. Letting an 18-22-year-old saddle him/herself with 6 figures of student loan debt is dumb.
When you get shot at you grow up. Don't think Marines are kids. Yes, Marines get drunk and want to fight everyone around. That our culture. However, I did not drink. I was the one who was out keeping Marines out of jail. You put 18-year-old on the PI's and they are going to get a little wild. You go to Parris Island you come out a man. Marine will probably kick your *** if you did. 65% of your time in the Marine Corps you are deployed in a crappy part of the world. Don't compare them to frat boys who pour beet up their butt's with a funnel. I have been on Air Force bases and those guys are treated like college students but on Marine Bases we are treated like warriors.I was never in the military (AF instead), but you must be WW2 aged, because since 1985, 18 year olds serving in all branches have been very immature and getting more immature up until i retired in 2017. There are 18 year olds these days who can barely take a shite without mom giving them direction, comfort and reassurance. Compare that to 100 years ago when 14 year olds were getting married and raising families on their own.
Yuup, no doubt, I've deployed with all branches and many other counties, but jarheads are a different breed. The last base I deployed to was primarily Marines. The exchange as a NEX, it was mostly stocked with pre-workout, energy drinks, dip, and cigarettes. The old lady had to ship me basic toiletriesWhen you get shot at you grow up. Don't think Marines are kids. Yes, Marines get drunk and want to fight everyone around. That our culture. However, I did not drink. I was the one who was out keeping Marines out of jail. You put 18-year-old on the PI's and they are going to get a little wild. You go to Parris Island you come out a man. Marine will probably kick your *** if you did. 65% of your time in the Marine Corps you are deployed in a crappy part of the world. Don't compare them to frat boys who pour beet up their butt's with a funnel. I have been on Air Force bases and those guys are treated like college students but on Marine Bases we are treated like warriors.
It would have done wonders if the government backed loans had just been capped and tied to inflation.Student loans should not be guaranteed by the government. Period. Would force colleges to be more competitive in tuition and fees charged and lenders wouldn't make loans to students or for degrees with too much risk of non-payment.