AGovernment Pays $1.4 billion a Year to Student Debt Collectors

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    • Sep 2012
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    #21 !Report
    On the bright side, 'debt collector' is a booming career choice in the current economy. Right up there with 'food stamp administrator' and 'welfare processor.'
    • Jun 2012
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    #22 !Report
    dances-weebles wrote: #12
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    guaranteed student loans are an enigma. the banks loan the money for no other reason than the federal gov't. said that if the students are unable to pay it off for any reason, then the government will. they said that they'd pay it, they should pay it and stop complaining so much. if there's not ...
    @dances-weebles

    'Morning Dances;

    Not all student loans are government backed.(My kid's aren't.)

    IMO government backed student loans are just another area that the government has no business being involved in. It's another well intentioned, socialistic government program that's going to further burden the tax payers.
    • Aug 2012
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    #23 !Report
    No wonder the GOP is against fixing the problems.their boys own the collection companys.
    • May 2012
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    #24 !Report
    Thunderchicken wrote: #22
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    @dances-weebles 'Morning Dances; Not all student loans are government backed. (My kid's aren't.) IMO government backed student loans are just another area that the government has no business being involved in. It's another well intentioned, socialistic government program that's going to...
    @Thunderchicken that's what tax money is for... helping the citizens. the gov't should be paying for 100% of education, anyway.
    • Sep 2012
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    #25 !Report
    Very similar to the sub prime mortgage mess that everyone seems to forget about when they are blaming Bush for all our problems.
    • Jul 2012
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    #26 !Report
    No one seems to be mentioning another part of the "debt crisis", that being some individual responsibility. If you decide to get your masters degree in Ancient Cultures & Dead Languages from some high priced private school, don't b*tch about all your debt. We also need to recognize that some kids just aren't made to go to school. Instead of pushing everyone to college, how about these guidance counselors actually provide some guidance to kids and recommend career paths that are better suited to their skill set. Tech schools cost alot less than a university....
    • Jun 2012
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    #27 !Report
    dances-weebles wrote: #24
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    @Thunderchicken that's what tax money is for... helping the citizens. the gov't should be paying for 100% of education, anyway.
    @dances-weebles

    dances-weebles
    @Thunderchicken that's what tax money is for... helping the citizens.

    Our tax money is for running the government. Backing student loans isn't really part of running the government. And even if it were, we're out of money and have resorted to counterfeiting. We simply cannot afford to fund things like student loans.
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    • May 2012
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    #29 !Report
    Thunderchicken wrote: #27
    q
    @dances-weebles dances-weebles @Thunderchicken that's what tax money is for... helping the citizens. Our tax money is for running the government. Backing student loans isn't really part of running the government. And even if it were, we're out of money and have resorted to counterfeiti...
    @Thunderchicken we can better afford to pay student loans than we can afford to fund the war budget and corporate welfare. if the money were stripped from those two things, then there's be enough to pay everyone's medical needs in full,+ education.

    if that isn't enough money, they tax the 'romneys' and 'buffetts' of the nation down to middle class, sell off their expensive cars and mansions and strip all their offshore bank accounts to -0- and give that money to education and medicine and feeding the poor.

    let's show them how good it feels to be philanthropic for a change.
    • Sep 2012
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    #30 !Report
    Romney and Ryan, is our best bet, here is why; The Obama and Federal reserve Bernanke, long term plan, calls for using education base as the third economic derivative. Funded with government bonds along with lottery, which effects the rate of change of the National Debt.$6 trillion in last 4 years.

    Romney and Ryan plan, would slow this third derivative in education for three years. Thus, allowing the national debt to slow, or even reverse itself.

    Key point to understand, business cycle, needs, at this stage of the cycle, well managed government.

    In time, under well managed government, the business cycle will turn higher.
    • Sep 2012
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    #31 !Report
    Lasvegas711 wrote: #30
    q
    Romney and Ryan, is our best bet, here is why; The Obama and Federal reserve Bernanke, long term plan, calls for using education base as the third economic derivative. Funded with government bonds along with lottery, which effects the rate of change of the National Debt. $6 trillion in last 4 yea...
    In the business cycle, 2013 to 2016, government could actually increase, military spending, which would create, many positives effects to the current global growth story.

    Point to understand, America needs about 3 more years, to shape the long term destiny. Next three years, will be crucial.

    Romney and Ryan ticket.... Is our best bet.
    • Jun 2012
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    #32 !Report
    dances-weebles wrote: #29
    q
    @Thunderchicken we can better afford to pay student loans than we can afford to fund the war budget and corporate welfare. if the money were stripped from those two things, then there's be enough to pay everyone's medical needs in full, + education. if that isn't enough money, they tax the 'r...
    @dances-weebles

    dances-weebles
    @Thunderchicken we can better afford to pay student loans than we can afford to fund the war budget and corporate welfare.

    It's not an either or situation. We need to cut everything. Social programs, tax loopholes, defense, parks... Everything.

    As for confiscating wealth, two points;
    There isn't enough wealth to confiscate to solve our problems.
    If you try to confiscate wealth, you'd need to confiscate all wealth. Everybody's everything. IOW full blown Communism. That would surely start a civil war. As well it should.

    As I've said many times before; First the spending to the point of a balanced budget. Then the taxes to pay off the debt. And I expect it to take at least one generation.
    • Jun 2012
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    #33 !Report
    David944 wrote: #25
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    Very similar to the sub prime mortgage mess that everyone seems to forget about when they are blaming Bush for all our problems.
    Bush isn't the cause of all our problems. Just the economic ones.
    • Jun 2012
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    #34 !Report
    Lasvegas711 wrote: #30
    q
    Romney and Ryan, is our best bet, here is why; The Obama and Federal reserve Bernanke, long term plan, calls for using education base as the third economic derivative. Funded with government bonds along with lottery, which effects the rate of change of the National Debt. $6 trillion in last 4 yea...
    You live in the state that has the highest unemployment and you want someone who likes to be able to fire people. Boy talk about voting against your own interest.
    • Jul 2012
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    #35 !Report
    maybe if we would stop importing so many un needed workers these folks who graduated college and have been trained can go to work and pay it back as it should be already.

    want cheap labor and hate Americans? say you cannot find any Americans to do the job and it will never be checked.
    • Sep 2012
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    #36 !Report
    College keeps getting more and more expensive to begin with. The climb in rates is rediculous and unjustified considering the economy can barely accomadate many new graduates. On the loan side of the token, do you know how many people get loans for schooling without caring enough to even finish their course of study? I see many people in school and wonder why they even bother. Why should the government pick up the tab for such low expectation people? And the ones that aren't low expectation will probably be able to do just fine repaying their loans on their own.
    • Jun 2012
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    #37 !Report
    Kajai wrote: #16
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    College Kids should not have to borrow these high five figure and six figure amounts just to get a college education. Tutions are ridiculous these days.
    Could tuition be high because loans are cheap and easy to get. (I'm thinking housing bubble here. )
    • Mar 2012
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    #38 !Report
    I hold a Masters Degree plus an additional 40 hours of graduate credit. I took out loans to help pay for some of that. However, I have paid all of that off. I looked for a career with good outlook on employment and found an employer that offered loan repayment.
    I have little sympathy for someone who gets a degree in an unmarketable skill and takes out huge loans to pay for it. Art history may be interesting, but do some research before you make such a critical life choice.
    • Jun 2012
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    #39 !Report
    Thunderchicken wrote: #37
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    Could tuition be high because loans are cheap and easy to get. (I'm thinking housing bubble here. )
    @Thunderchicken things that make ya go hmmm.
    • Aug 2012
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    #40 !Report
    Wilberhum wrote: #19
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    People are getting hundreds of thousands of dollars in loans to get 2 year degrees? Really? When did you make up that statement?
    @Wilberhum I don't make stuff up. I read about the issues and form my own opinions.

    http://rockcenter.nbcnews.com/_news/2012/07/1...

Comments 21 to 40 of 62