Community Chat

[blackhole99]

I just read in our local newspaper that 26,000 college grads in my state are default on their college loans. Well what do you know, that line of ****** these people have been handed has finally come to be mucked out. This article was just about the grads and not about the people who never graduated and still have to pay their student loans off and with no degree to show for.

[MyGirlsMom]

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@baker wrote:

I just read in our local newspaper that 26,000 college grads in my state are default on their college loans. Well what do you know, that line of ****** these people have been handed has finally come to be mucked out. This article was just about the grads and not about the people who never graduated and still have to pay their student loans off and with no degree to show for.

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[maestra]

My DSIL is one of the non grads who has to deal w/student loan debt, as well as my DD. SIL runs a small business from home now.

[chprsp]

My son too has the loans to pay off. Has not defaulted yet but that's only because of our help.

[Lila Belle]

What do I think ?

I feel sorry that so many are struggling to repay their loans.

[ROMARY]

Slightly off topic:  Some of them keep changing their majors.  I recall Steve Harvey telling his sons? (or someone) to stop changing their majors, get a degree in 'Something', and go out and get a job.  Something about how tired he's been of paying all of those tuitions (in a SH joking way).  Don't quote me by any means.  I like Mr. Harvey's sometimes serious, off-the-cuff humor.

[Snowpuppy]

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@MyGirlsMom wrote:

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@baker wrote:

I just read in our local newspaper that 26,000 college grads in my state are default on their college loans. Well what do you know, that line of ****** these people have been handed has finally come to be mucked out. This article was just about the grads and not about the people who never graduated and still have to pay their student loans off and with no degree to show for.

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I don't get the comment, either. Students were handed a bill of goods as to how much they'd earn after graduation? Or they would just default hoping for a bailout of some sorts?

You have to be a savvy consumer. Look at the dismal graduation rates of some of your area schools. You'd be shocked.

[ROMARY]

'A hundred years ago' (lol), state colleges/universities were somewhat easier to pay (for).  I recall working Summer vacations and holidays/breaks, and still having a decent savings account. I don't recall ever worrying about it (at that time).  But, then again, I didn't even think about and/or attempt higher level, more expensive colleges, universities.  Community and State were good enough for me.  Received my B.A. and jobs were very, very available.  For some time, it was an employee's world.  Employers often tried to 'sway away' employees from other companies by dangling better salaries, benefits.  .......... (I don't know exactly when or why that all ended........Could it be that companies/manufacturers have outsourced overseas?  All I know is that the food service/hospitality industry is keeping lots of graduates afloat now-a-days.  An industry that cannot be done overseas.  A person-to-person industry, no matter what field,  always remains fairly solid. So far.)    Wishing them all the best of luck.  I can't imagine the stress, not even knowing whether or not jobs will be available when all is said and done. 

[millieshops]

I can't think a whole lot without knowing where their money was actually spent and what plans they had for repaying it.  After that, I'd want to know why their plan did not work.

Only then would I care to assess whether their defaults make sense in any way and whether we as a nation should be helping them or leaving them with a legacy of bankruptcy for years and years.  I do suspect that some of the defaults have a grounded basis and some are built on flimsy excuses.

[Burnsite]

My original reply was swallowed by this totally sl l l l l o o o o w w w w Bulletin Board login process, so I will try to repost the gist of it.

The total number of Pensylvanians between 25 and 34 holding higher ed degrees (most student loans are pd over a ten year basis) is 654,558.  The default rate is therefore 3.7%. (Edited to check my hasty math!) 

No one seems to have a problem with people (of whatever age) who make unsuccessful business choices taking bankruptcy...but students are in the crosshairs these days.

From the gov. website that posts these data; "America used to be No. 1 in the world for the percentage of adults with college degrees but has recently slid to 16th."  I think the college students need to be invested in, just as much as roads and bridges and early childhood nutrition and education.