Paul wants to phase out federal student loans.

1. I had my paycheck garnished to pay back my student loans...I was a single mom and did not get any food stamps etc. so this hurt but I knew I needed to pay the loans back so just went along with the garnishment. I always lived frugally so went especially frugal. I had begun work at a not high paying job but made barely enough to get by.
2. I work at a community college and see students get these loans and blow the money on frivolous stuff like car speakers, vacations, etc. No not all do this but a big majority do blow thru the money and I hear most of them say they won't pay it back. I try to tell them that their paycheck will get garnished if they do ever get a job.

So now are they again going to get off easy and not be held responsible for their blowing thru the student loan money that they did not use to survive on while going to school but instead blew on crap?

I want my money back that I repaid for my student loan if they don't have to pay their loans back...I think a lot of people who paid their student loans off would feel the same way.

reply to post by sarra1833


So you are for taking away choice? I believe people should have a choice.

Originally posted by projectvxn
Does anyone stop to think before they post anymore?

Default Rates for Federal student loans is on the rise

That means tax payers are on the hook if you don't pay your student loans. Part of that has to do with the government not having a profit initiative as tax payer money will always backstop losses no matter what.

Do yourself a favor, if you can't afford a loan don't get one. You have some personal responsibility damn it, use it.

Were well beyond personal responsibility.
Where is the responsibility at Bank Of America where they decided to place their fraudulent derivatives under an FDIC backed subsidiary, that the tax payers will be on the hook for?
The toxic derivative mess makes the college loans look like pocket change.

Were to far gone to where it no longer matters, and just waiting for it all to collapse.

reply to post by projectvxn


The whole point of going to college is to hopefully to get out of poverty. People who can afford it may not desire to go to college because they either like thier job or make enough to be comfortable.

reply to post by netwarrior


This is a good point..

When the colleges lose the income they depended on, they will have to lower their tuition rates and start managing the rates of books, and other services fairly.

Ive been in college for two years, and haven't needed government loans until I started attending a University recently.

reply to post by jacobe001


Don't deflect.

This isn't about B of A.

If YOU take out a loan, YOU are responsible for paying it back .

Originally posted by dreamseeker
reply to post by projectvxn

 

The whole point of going to college is to hopefully to get out of poverty. People who can afford it may not desire to go to college because they either like thier job or make enough to be comfortable.

Not everyone SHOULD go to college.

Everyone thinks their entitled to go, but quite frankly you're not.

Whatever happened to saving money for college? People used to do it and not as parents for their kids either. But as adults.

If you can save up 20% collateral against the risk of you defaulting this used to be a good thing, most banks would give you the money at a reasonable rate to get a degree in something that would actually make you money in the future.

If you're studying philosophy, music, fine arts, or any number of other liberal arts degrees expect to be broke and in debt.

reply to post by sharintexas


Yea, It sucks.

I have paid off my loans as well, but tuition was a lot cheaper 10 years ago than it is today.

The Wall Street crooks will not be feeling any pain as they take and take more from the tax payers.

They are the ones that benefit in the end, while everyone else will be broke struggling to survive.

Based on what they have done on Wall Street, and yes, it is they, because they revolved between Wall Street and the Government, creating this mess, I could care less if the system crashes. If the dollar crashes, I'll cheer when I see some Wall Street Banksters jumping out of 40 story windows.

reply to post by sharintexas


I think this is one of the bigger issues with student loans.

When I was applying for school and for student loans, I was able to get around 6k more than what was needed for school. While I was momentarily tempted to go for the money, I realized I would be creating a tougher situation to get out of further down the road when it came time to repay the loans.

A problem many people have is they look at it as free money, and as such take out way more than they need and spend it on things completely unrelated to school.

I did opt to get slightly more than needed to cover school costs, but those funds are being used to pay for rent, utilities, school related books, and my internet which is something I need for school.

Originally posted by dreamseeker
He wants to end HUD? How would this not hurt people? HUD is in charge of low income housing.

1. Most of what is in low income housing is horrible to live in, that I've seen, and they charge the government for it way too much money.
2. A lot of what he wants the FED out of, will be taken over at the state level. The point is not to put people out on the streets, never was.

For instance, our medical charity system, in Louisiana, was just fine before ObamaCare. You pay for your bills on scale. In fact, the charity hospital has less cases of people dying from staff infections down here.

reply to post by ThaLoccster


My mom told me about this today. I can't believe he'd even consider this. What? Is he so out of touch with the reality of young people today and their family's finances that he thinks everyone can pay cash for tuition and books? Come and get realistic, if he's that far off the mark in this what's he like on other issues? I think he's just another fat cat rich old guy.

reply to post by projectvxn


I have to agree.

In many of my college courses there are people that I am surprised were able to graduate high school. I am almost certain they will fail out and end up owing this money they took out for loans with no real method of being able to repay it.

While I can applaud their drive to want to do better with their lives, I feel they are likely going about it in the wrong way and will end up in a position even worse than the one they seem to currently be in.

Originally posted by projectvxn
reply to post by jacobe001

 

Don't deflect.

This isn't about B of A.

If YOU take out a loan, YOU are responsible for paying it back .

I agree and I paid back every single dime of my student loans but back then it was like around 5,000.00 - 6,000.00 for the whole four years. Not this nonsense now of in the tens of thousands and then some.

Originally posted by dreamseeker
reply to post by PunchingBag80

 

That is why I said only the rich would get degrees if people could not get loans. What income can a person really afford college? Part of the point of college is too make a higher salary and get out of poverty. When you get out of school there are payment plans that are based off your income. Could a person who makes $50,000 per year really afford $10,000 out of pocket? I doubt it! I believe in an even playing feild; the poor should have just as many oppurtunites as the middle class and rich. I will always defend and stick up for the poor even when I am middle class. I have been middle class before and I still needed college loans!

You don't think RP feels the pain of what an education costs the poor this day and age? Here

Paul was born in Green Tree, Pennsylvania, to Margaret "Peggy" Paul (née Dumont) and Howard Caspar Paul, son of a German immigrant. His family owned a dairy farm in the small town, which lies just outside of Pittsburgh. He was the third of five sons born during seven years in the Great Depression. Paul's father had an eighth-grade education and was co-owner of Green Tree Dairy, along with his brothers Lewis and Arthur. Paul began working at his father's dairy at age five. Later he delivered newspapers, worked in a drugstore, and became a milkman when he was old enough to drive.

Paul paid for his first year at Gettysburg College with saved newspaper-delivery, lemonade-sale, and lawn-mowing money. Paul delivered mail and laundry on the side while in Gettysburg, Pennsylvania; for one year, he managed the college coffee shop. He gave up track after a knee injury but joined the college's swimming team instead after taking it up as therapy. He had been offered a full scholarship to run for the track team but declined it, concerned that he would not regain his previous speed. He received his Bachelor of Sciences degree in 1957.

People in this same position today would find it hard to send their kids to school, or who worked the type of jobs he did before he finished college? Seriously, all he wants is an America were people can get a degree on what they make, just as he did. And he's saying it's far more impossible now, and the loans are NOT helping this situation, at all.

I have not read all the posts, but this could be what he is talking about. I do agree somewhat. There needs to be a solution to this and a balance in there somewhere. The way it is going, these kids will take on loans that they will never pay off.

I was at the eye doctor the other day, and she is 41 years old and she was telling me that just recently paid off her loans and she started school at 19.

This video might give another insight into the problems of the current system.

CNBC Price of Admission

reply to post by ThaLoccster


A College Education today is a Racket , Pay through the Nose for some Worthless Degree that May or May Not get you a Decent Job when you Graduate . You'd be better off learning a Trade instead IMO , Electricians, Plumbers, Painters, Drywall , Flooring , Tile, Carpentry, Landscaping , are pretty good Jobs especially if you eventually start your own Business after a few years .

reply to post by Zanti Misfit


To an extent I agree.

I actually ran a small business related to the degree field I am pursuing. While it did nicely for a little while, to move on to higher end clients and build a more reputable reputation I found out I would need at the least a bachelors degree in the related field.

I've also had employment opportunities in which I was overlooked in favor of people who did have the bachelors degree.

I do plan on restarting my business when I earn my degree. But, if that doesn't work out I'm sure that I will have more opportunity for employment and I will be a more attractive prospect because of my degree.

The brain washed people really get on my nerves. Anyone that desires to better themselves by education should have an outlet to do that. Privatizing student loans (which is what he's trying to do), will only hurt those that want to better themselves. I am confused as to why not everyone should have the funds to go to college to better themselves, but anyone that can knock off the cheese burgers for a few months can better themselves via military service? Talk about a lapdog in it's truest form.

Don't even get me started on the college tuition military get from their service time. Those that would use military service to put themselves through college, and then tell others that not everyone should be aloud to go, is quiet laughable.

I wonder if that would be affected by Ron Paul's plan?

reply to post by Evolutionsend


I assume this is a passive aggressive way of directing venom at me?

Hey, if you wanna take out a crap load of money in loans and get so deep in debt that you're drowning just for a liberal arts degree then be my guest.

Just don't do it on the tax payer dime.

Risking your life for the country is not equal to that.

Well I can see both sides here, but there certainly is some irresponsible lending going on and the same for the borrowing too.
Check out this link for a bit of an eye popper.
www.npr.org...
Going to school forever to avoid paying a huge debt......
I am torn here between both sides on this one.
Regards, Iwinder