• #26
    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....
  • #21
    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.'
  • #16
    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.
  • #2
    We need to STOP the free for all that is student loans. People are getting hundreds of thousands of dollars in loans to get 2 year degrees and these for profit schools target people for all this 'free money'. There needs to be more strings attached. Students need to realize that floating around for two years only to choose a liberal arts, communications, or art history degree is not what the govt loans are for. The loans are for the student to get a higher education so they are better prepared for life, not so they can go to a 4 year resort and come out with a degree that is worthless.
  • #17
    @PuroChorizo361 Not only the poor, but our veterans as well. These for profit schools have to have at least 20% of their student body not pay with federal student loans and veterans count as part of the 20% because they get VA loans.
  • #19
    People are getting hundreds of thousands of dollars in loans to get 2 year degrees? Really? When did you make up that statement?
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  • #7
    What should be done about spiraling student loan debt?

    By the government, nothing. By the borrowers and lenders, work it out.

    For future reference; Lenders, don't make a loan if the borrower is likely not to repay it. Loaning money for a liberal arts degree isn't good business. Borrowers, taking any loan involves risk. Know what you're getting into before you sign the papers.
  • #12
    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 enough money for them to live up to their word, then they should strip it from some entitlement such as corporate welfare, or the war budget.
  • #22

    '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.
  • #27

    @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.
  • #29
    @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.
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  • #54
    So, the magic money bullet that Academia has promoted it self to be turns out to be sales hype. Something for nothing turns out to myth.

    They teach business ethics to kids and are surprised when they don't honor their obligations. they tell kids they're stupid for working with there hands, Then can't figure out why they won't get a job to pay there bills.

    I don't care who you are....That's Funny!

    What's not funny is working people having to bail them out.
  • #48
    Make the students pay off the debt. Either with cash or public service. The college system is the real problem. Give students money and they raise they Prof's pay by a larger amount.
    The govt should not back loans without good collateral, isn't that right Barney.
  • #35
    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.
  • #30
    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.
  • #31
    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.
  • #34
    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.
  • #25
    Very similar to the sub prime mortgage mess that everyone seems to forget about when they are blaming Bush for all our problems.
  • #49
    I,ll admit Bush spent alot of money, 9-11 two wars drug benefits for seniors Im sure you could name more but the sub prime mortgage problem started brewing long before Bush. In fact he raised a red flag about it.
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  • #10
    In life, just like in the business world, there are winners and losers.

    Luck plays central role, both in life and business.

    Never give up, and stick to a plan, always look for fully diluted investment.

    Most Americans, don't even know what fully diluted is...anymore
  • #9
    I think a little time in prison would change all that. If you're in debt for over $1000 and don't pay back well Tyrone will be waiting for you to pay back your debt in that tiny cell.
  • #3
    Wow! Even Gail Collins of the NYT is turning on Big Ed and the tuition bubble caused by guaranteed student loans.

    Like it or not, government wading into the middle of the student loan industry is the cause of this just like it was the cause of the housing bubble.
  • #62
    Compared to the hundreds of Billions paid for prisons and the incarceration of non violent and social crimes...I see a bargain in student loans offerings. The devil is in the repayment system, I am aware of retirees still paying off student loans. That is immoral!

    "Thirty years ago, 10 percent of the general fund went to higher education and only 3 percent went to prisons. Today, almost 11 percent goes to prisons and only 7.5 percent goes to higher education. Spending 45 percent more on prisons than universities is no way to proceed into the future."

    Higher Prison Costs Lead to Higher Tuitions and Fewer Graduates
  • #61
    Credit card solicitors should be banned at least 5 miles outside college campuses, and I cannot see how I should have to pay a company because they have monies owed. Wait a minute! A customer two years ago didn't pay me for $2,000.00 I installed in his house. Maybe the credit card companies would help me out.
  • #60
    There should be NO government guaranted loans for college. In the first place college costs are too high. Many students either do not know how or are unwilling to work. Most of my generation worked full time while in school and graduated with no debt. Just another example of government intrusion.
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