Student debt the new deal breaker for marriage?

[Wild Cobra]

Blame students for loan debt? Not so fast.

The Full Picture
The minimum wage in the United States has gone up 353% since 1970, and average incomes have gone up approximately 500%. In that same span, however, the cost of basic household goods has gone up 482%, the cost of a four year education has gone up 994%, and the cost of an average home has gone up 917%.

In other words, in the eyes of an average worker from 1970 compered to today, the prices at the grocery store have remained largely unchanged, but the cost of an education has roughly doubled (and it’s now required if you want to earn significant money, where it wasn’t in 1970) and the cost of a home has roughly doubled as well.

If you look at it through the eyes of a minimum wage earner from 1970 compared to today, the prices at the grocery store have gone up about 30%, the cost of education has roughly tripled, and the cost of a home has roughly tripled.

Is There A Solution?
Like it or not, students of today, you’re likely not going to be able to follow the path of your parents – and especially not the path of your grandparents. If you want to have a financially healthy life, you’re going to need to keep an eye on every dollar much more than they had to. The ability to sensibly manage your money and make smart buying choices is much more of a requirement than ever before.

Parents and grandparents of today, give those kids a break. They’ve got a much worse financial reality than you did when you walked out of school. They’re facing bigger housing costs, bigger education costs, and a bigger requirement to have that education than you ever did. Don’t compare the path they’re following to the one you’re following. It’s an unfair comparison all around.

http://www.csmonitor.com/layout/set/...w/print/415730

It's very simple Boutons.

The more government involvement, the more expensive things get.

[boutons_deux]

Student Loan Debt Will Exceed $1 Trillion This Year For The First Time Ever

USA Today reports that for the first time ever, outstanding student loans will exceed $1 trillion this year. The amount of student loans taken out last year also set a record, crossing the $100 billion mark. Students have been struggling in the face of rising tuition costs and reduced financial aid, and are borrowing twice what they did a decade ago, according to College Board. Unpaid student debt has also doubled in the past five years. The Federal Reserve Bank of New York reports that Americans now owe more on student loans than on credit cards. This emerging trend is expected to have far-reaching consequences, as unpaid loans hang over young adults when they start their careers and delay investments like buying a car, buying a home, getting married, and having children.

http://thinkprogress.org/economy/201...debt-trillion/

[boutons_deux]

It's very simple Boutons.


The more government involvement, the more expensive things get.

What's simple is your ideological blindness.

Look a SS/Medicare/VA efficiency/overheads vs private pension plans and for-profit insurance.

banks and their hyena/vulture collection agencies pocket more on student loans than the govt.

[boutons_deux]

The $1 Trillion Student Loan Rip-Off: How an Entire Generation Was Tricked into Taking on Crushing Debt That Just Enriches Banks

Thanks to the horrific 2005 (REPUG) bankruptcy bill, one of the most nakedly venal modern examples of Congress serving the interests of the rentiers and creditors over the vast majority, debtors cannot discharge student loans through bankruptcy. The government is shielded from the risk, and creditors are licensed to collect by almost any means they deem necessary, giving no one in charge any real incentive (beyond basic human decency) to fix the situation.

The impossibility of escaping student loan debt is why an industry sprang upto foist useless, overpriced degrees on vulnerable people. It’s a scam, but a profitable one, and respectable enough for major establishment players to feel comfortable making a killing on it.

employees recounted a distinct culture shift once the company went private under Goldman Sachs and the other private equity investors, as day-to-day operations warped from a commitment to students and their success into an environment laser-focused on hitting mandated enrollment targets. New recruits were viewed simply as a conduit for federal student assistance dollars, the employees said, and pressure mounted from management to enroll anyone at any cost.

So we have incredibly rich and powerful elite ins utions joining forces to bleed youths and minorities and poor people dry. And people wonder why there’s marching in the streets.

http://www.alternet.org/story/152809/the_$1_trillion_student_loan_rip-off:_how_an_entire_generation_was_tricked_into_tak ing_on_crushing_debt_that_just_enriches_banks?utm_ source=feedblitz&utm_medium=FeedBlitzRss&utm_campa ign=alternet

[boutons_deux]

You know the 1% bags like Murdoch aren't interested in public schools to improve students' education.

The 1% is only interrested in sucking (taxpayer/school) $$$ out of Human-Americans.

1% Find Creative Ways to Profit from Our Schools -- At What Cost to Our Kids?

Murdoch was there, he admitted upfront, as “a businessman” ready to move into the education market. Murdoch’s News Corp. has been quietly developing virtual-learning and technology-driven products for K through 12 schools, and with his address Murdoch made his first large public splash into an arena he’s valued at $500 billion. For entrepreneurs big and small, American public school reform has become a prime business opportunity.

http://www.alternet.org/education/15...paign=alternet

[coyotes_geek]

at the idea that banks are tricking people into taking on student loan debt.

[boutons_deux]

tricking the same way predatory lenders tricked unqualified borrowers into taking out mortgages and 2nd, 3rd mortgages they couldn't afford, by accepting "stated income", aka, "liar's loans", and by ignoring/violating federal rules for govt-guaranteed mortgages.

Lending money to (usually poor, lower class) kids to attend crap like for-profit crap like Phoenix, Kaplan, etc. Even if you gradaute (50% don't), employers laugh at your "diploma" but the lenders remain deadly serious about your debt, guaranteed by the govt and not dischargeable through bankruptcy, thank you Repug assholes.

[CosmicCowboy]

at the idea that banks are tricking people into taking on student loan debt.

No ...

And by definition most students are not credit worthy when the loans are made and without the bankruptcy protection would not get the money for school
. Without that protection what is to keep someone from racking up $100,000 in student loans, getting their education but intentionally not getting a job and declaring bankruptcy? With no money and no assets there is nothing to get in a bankruptcy and the debt could be discharged.

[CosmicCowboy]

Naturally there are irresponsible ups that piss their money away on worthless degrees from ITT Tech, etc., but for every one of those there are ten Mannys that use their loans responsibly to get an education for a career that they otherwise wouldn't have been able to afford.

[coyotes_geek]

tricking the same way predatory lenders tricked unqualified borrowers into taking out mortgages and 2nd, 3rd mortgages they couldn't afford, by accepting "stated income", aka, "liar's loans", and by ignoring/violating federal rules for govt-guaranteed mortgages.

Lending money to (usually poor, lower class) kids to attend crap like for-profit crap like Phoenix, Kaplan, etc. Even if you gradaute (50% don't), employers laugh at your "diploma" but the lenders remain deadly serious about your debt, guaranteed by the govt and not dischargeable through bankruptcy, thank you Repug assholes.

Precisely why government has no business getting involved in mortgages or student loans. Let the ramifications of bad decisions made by banks and individuals stay between those banks and those individuals.

[boutons_deux]

"And by definition most students are not credit worthy when the loans are made"

so by "normal" standards, the lenders should have never made the loans, so the lenders are guilty, but, according to you people, the borrowers are exclusively at fault/criminalized.

btw, a lot of mortgage holders (like yourselves) would not have gotten a mortgage had the mortgage not been govt-guaranteed.

That's why so many lenders/borrowers did deals up to the limit of "jumbo loans".

Govt-guaranteed loans are nothing but subsidy to the lenders and homebuilders.

And why is the govt involved in financing mortgages with IRS mortgage deductions (aka tax expenditures) that not one of you govt-haters would ever give up?

Without the mortgage deduction a lot of you would be renting or living in a smaller house in tier neighborhood.

[CosmicCowboy]

We are talking about student loans, for brains, not mortgages. And yeah, as far as I'm concerned, if they borrow the money to go to school and get an education they should be held responsible for paying it back.

[boutons_deux]

cc, take your -slapping like a .

[CosmicCowboy]

cc, take your -slapping like a .

[ididnotnothat]

My nephew graduated college last year with over 25K in debt.