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Re: 2nd Term Part 4: Donkeys, Elephants, and Porcupines
Actually, 6.8% is a halfway decent rate these days. That's how much I owed for freshman and sophomore year, and were the first loan(s) to be paid off. The whole point behind this is where students should have a plan of how they're going to pay for college. We're not talking about asking mommy and daddy, either. Pick a major that is the most in demand (or at least what looks to be becoming as such), ESPECIALLY if there is a shortage in supply of that particular vocation. If you're going to make me tell you who is to blame, I'd say the lenders because they're dumb enough to shell out $120,000 for some kid to learn quotes from Carl Jung. Pick something where you know the kid is going to have a job right away, as not only will they be able to pay you back, but you'll be able to make a lot more money off of them in the form of income taxes. At least they were smart enough to put clauses in there that you can't dissolve the loan in bankruptcy court. Before I EVER lend someone money, especially if it's a substantial amount, they gosh darn better be showing me how they're going to pay it back.
Scoobs is 100% correct. Its amazing that the same people who cry at the top of their lungs that Obama is leading the nation to ruin in the next breath think its okay to make it harder for working class people to afford college, an attitude that will in fact ruin the country. Few of us can go the "Mitt Romney Route" where he famously declared that kids should just ask their parents for the money.
Worse yet is the condescending attitude out of righties that taking out loans is a sign that you don't belong in college. Even the most responsible of students may have to rely on some level of loans to get them through school. 6.8% is an absurd borrowing rate in this day and age, especially since students will have to pay the money back eventually as those loans can't be disposed of.
But hey, go on telling students this is all their fault. Nothing will consign conservatism to the dustbin of history quite like screwing over a whole generation of people in their formative years! Remember, we ain't creating any new crabby old white guy voters.
Actually, 6.8% is a halfway decent rate these days. That's how much I owed for freshman and sophomore year, and were the first loan(s) to be paid off. The whole point behind this is where students should have a plan of how they're going to pay for college. We're not talking about asking mommy and daddy, either. Pick a major that is the most in demand (or at least what looks to be becoming as such), ESPECIALLY if there is a shortage in supply of that particular vocation. If you're going to make me tell you who is to blame, I'd say the lenders because they're dumb enough to shell out $120,000 for some kid to learn quotes from Carl Jung. Pick something where you know the kid is going to have a job right away, as not only will they be able to pay you back, but you'll be able to make a lot more money off of them in the form of income taxes. At least they were smart enough to put clauses in there that you can't dissolve the loan in bankruptcy court. Before I EVER lend someone money, especially if it's a substantial amount, they gosh darn better be showing me how they're going to pay it back.