This is why America is going to the sh-tter

[Oregonhunter5]

Oregon law school graduate beats back $50,000 in student loans | OregonLive.com

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[IheartGUNS]

Isn't America in the pooper already?

 

[oknow]

no such thing as personal responsibility any more.

 

[SOrez]

I tell my grandkids when you go college,learn something you will use and don't take out any college loans. College loans are inslavement to the banks and government.

 

[Burt Gummer]

College is just one of the debt scams of the banksters. If you are wealthy, and have an unemployable kid, send him/her to college just so he can pretend he is doing something worthwhile.

Education in America is so degraded it is comical. Most college students, graduates, or even those with a Master's degree today could not pass a test given to 8th graders 120 years go. That is just how dumb and pathetic we have become. <broken link removed>

Proud, oh yes! Think we are much smarter than all the generations before us?, yes! Well ..... wrong. Idiocracy at its finest. I'd put an 1880's kid up against any college person today, and win. Hell, a kid from the 1970s for that matter.

Years of government worthless educations, slurping down Fluoride and Asparame, being locked to the boob tube and mindless video games has taken their toll.

But then, that is exactly what government wants. Non-thinking controllable drones and worker bees. People who think ask questions. Only a nation of drones would have swallowed up ridiculous tales like the official 9/11 BS. For government, dumb is great.

According to The Economist (magazine), the United States was the best place in the world to be born into back in 1988. Today, the United States is only tied for 16th place.

 

[Bazooka Joe]

Actually, I completely disagree with the OP that this is an example of "why" America is going to pot. Bankruptcy has been around for a long time as a way for people to manage debt. While a creditor must try to keep his/her word to repay what he has borrowed, the lender also holds a responsibility to try to ascertain whether the borrower will be able to repay and a risk that the borrower will not. Being paid interest is part of the reward of taking that risk. When Congress decided that student loans would no longer be dischargeable in bankruptcy, they were only doing favors to the banking industry. Lenders no longer needed to do any risk assessment because any borrower became a virtual slave to the industry. Because lenders no longer had risk, they loaned more and more. Because any student could borrow more and more money, Universities could increase tuition to whatever level they wanted and afford to pay many more administrative positions. It has created an ever spiraling upward problem of increased costs and lifelong wage slaves. This one person "getting away" with reducing their debt by 60% or so is not the example of America going to pot; Congress making student loans undischargeable in bankruptcy was the example.

 

[Oregonhunter5]

Actually, I completely disagree with the OP that this is an example of "why" America is going to pot. Bankruptcy has been around for a long time as a way for people to manage debt. While a creditor must try to keep his/her word to repay what he has borrowed, the lender also holds a responsibility to try to ascertain whether the borrower will be able to repay and a risk that the borrower will not. Being paid interest is part of the reward of taking that risk. When Congress decided that student loans would no longer be dischargeable in bankruptcy, they were only doing favors to the banking industry. Lenders no longer needed to do any risk assessment because any borrower became a virtual slave to the industry. Because lenders no longer had risk, they loaned more and more. Because any student could borrow more and more money, Universities could increase tuition to whatever level they wanted and afford to pay many more administrative positions. It has created an ever spiraling upward problem of increased costs and lifelong wage slaves. This one person "getting away" with reducing their debt by 60% or so is not the example of America going to pot; Congress making student loans undischargeable in bankruptcy was the example.

So it's the banks fault? That's deep dude. If I had this dipbubblegum sitting in Front of me interviewing for a job, I'd laugh and say get lost limp dick. Your kids have a pansy for a dad.

 

[Oregonhunter5]

College is just one of the debt scams of the banksters. If you are wealthy, and have an unemployable kid, send him/her to college just so he can pretend he is doing something worthwhile.

Education in America is so degraded it is comical. Most college students, graduates, or even those with a Master's degree today could not pass a test given to 8th graders 120 years go. That is just how dumb and pathetic we have become. <broken link removed>

Proud, oh yes! Think we are much smarter than all the generations before us?, yes! Well ..... wrong. Idiocracy at its finest. I'd put an 1880's kid up against any college person today, and win. Hell, a kid from the 1970s for that matter.

Years of government worthless educations, slurping down Fluoride and Asparame, being locked to the boob tube and mindless video games has taken their toll.

But then, that is exactly what government wants. Non-thinking controllable drones and worker bees. People who think ask questions. Only a nation of drones would have swallowed up ridiculous tales like the official 9/11 BS. For government, dumb is great.

According to The Economist (magazine), the United States was the best place in the world to be born into back in 1988. Today, the United States is only tied for 16th place.

So don't get a degree? Wrong. It's the price you pay to play. If you don't need a degree, for whatever reason, good for them.

 

[Stomper]

I only took the "after high school" courses I needed (pay as you go) over the years, and I make six-figures, have a full pension and medical-dental-vision benefits, drive a nice E350, a Harley, house, etc.... I physically/mentally work my arse off, but hey, I make six-figures and I don't owe 60k to student loans... plus I can actually read, write, do math, AND think critically.

Did I mention I make six-figures? All w/o a "sheepskin" or government handouts... whoda thunk it?


(not bragging, just making a point that you don't HAVE to be a D-bag to make it)

 

[Burt Gummer]

Going forward into the Greatest Depression, most degrees will be meaningless. For instance, a marketing degree will earn you third place at the dumpster dive contest.

 

[Bazooka Joe]

So it's the banks fault? That's deep dude. If I had this dipbubblegum sitting in Front of me interviewing for a job, I'd laugh and say get lost limp dick. Your kids have a pansy for a dad.

That's not what I said, but whatever dude. I can see that you got a lot out of your education.

 

[Burt Gummer]

The Student Loan Debt Bubble Is Creating Millions Of Modern Day Serfs

Anyone who can stick it to the banksters is ok in my book. If brainless Americans would just take a few minutes to see how badly they are being screwed there would be a sheeple revolt tomorrow (consisting of a lot of baahing louder than normal).

A Fed bank gets its money for .05% and then charges you 19% + fees + late charges. No 20s Chicago mobster ever had it so good. On top of that they are printing trillions and handing it all off to their criminal buddies on Wall St and their own Foreign banks - with not even an audit. How? They own this place.

Why America is going down the sh----ter has very little to do with some resourceful fellow getting rid of some of his debt via legal means, and all about how the banksters highjacked the nation via the Federal Reserve 100 years ago.

The Founding Fathers warned dozens upon dozens of times, but we were too ignorant to heed their warnings. Now we are screwed.

I believe that banking institutions are more dangerous to our liberties than standing armies. If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around [the banks] will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered. The issuing power should be taken from the banks and restored to the people, to whom it properly belongs.
Thomas Jefferson, (Attributed)
3rd president of US (1743 - 1826)

In 1933, Vice-President John Garner, when referring to the international bankers, said: "You see, gentlemen, who owns the United States ."


This nation is an Oligarchy run by the Euro Banking Elite Families. Nothing more than a sub-corporation of the Bank of London via the District of Columbia. (See Act of 1871)

Someone who hasn't got that memo by now has their head in the sand. Enjoy your 'Independence Day" this Fourth of July - what a sad joke. We won nothing. Their soldiers were here an additional 22 years while the banksters installed their banks, courts, everything. Instead of outright slaves they then settled on a Clandestine, controlled extension of themselves.

Our whole reason for revolting in the first place wasn't taxation without representation but rather the King's refusal to let the colonists have their own debt-free money. Fractional reserve banking is the power base of our owners then, just as it is now.

This NSFW video is tailor made for this thread. An oldie, many times repeated, goodie:

 

[Stomper]

The Student Loan Debt Bubble Is Creating Millions Of Modern Day Serfs

^^^This^^^

 

[Jamie6.5]

The government's student loan guarantee program is a boon to no one but colleges and universities, and has give rise to many/most of the ridiculous degrees offered these days.

If, when a student went to the bank for a student loan, they had to present a business plan that included the field of work the student intended to enter upon graduation, the average level of post graduate income, and the loan was discharge-able in bankruptcy, students would be much more successful, and university systems less so.
It would also let the bank know who was serious about their education, and planned on doing something useful and productive with it.

This is just one more example of the government telling the banks who to loan money to, and how to do it.
The CRA blew up in our face, and now the student loan program threatens the financial system with another trillion dollars of bad debt.

Of course the universities would scream bloody murder, but maybe if they did, we'd have fewer "career students," and underwater basket weaving degrees, and more engineers.

IMO, this would be a good thing. Not everyone is equipped mentally, emotionally, or from a maturity standpoint to utilize a university education.
And many of the degrees offered in today's universities reflect that.

Education, in and of itself, isn't and shouldn't be the be-all/end-all.

 

[Stomper]

That's right, it SHOULD BE a means towards accomplishing something (productive and worthwhile).

 

[The B]

Holy bubblegum.. you guys never cease to amaze me.

The OP presented a great opportunity for intelligent intercourse.. but some of the usual suspects dun alriddy took this one to straight to northern Idaho.

 

[accessbob]

I went to school at Seattle Pacific University. I only went there so I could be an aide for my friend who has Cerebral Palsy and he was attending there. I went for 3 years, ended up with $27,000 in Student Loans and have been essentially repaying since 1996 and have unfortunately gone through 2 bankruptcies during that time period. First one was totally my fault and I learned from it. The second was due to unemployment. So, now my current balance, for which I pay $400 a month on now, is $40,400. I do not see myself ever being able to pay it off completely (short of winning the Lottery, and if I did win it would be something I paid off immediately). Well, the loan shows that I should be able to pay it off in 17 more years when I am 68. When I made the decision to take the loan(s) I did not fully know how it would all affect me for so long. I didn't grasp that concept. I know now but it is too late.

 

[Rix]

How much of that is severely overpriced "education"?

 

[Smitty79]

Actually, I completely disagree with the OP that this is an example of "why" America is going to pot. Bankruptcy has been around for a long time as a way for people to manage debt. While a creditor must try to keep his/her word to repay what he has borrowed, the lender also holds a responsibility to try to ascertain whether the borrower will be able to repay and a risk that the borrower will not. Being paid interest is part of the reward of taking that risk. When Congress decided that student loans would no longer be dischargeable in bankruptcy, they were only doing favors to the banking industry. Lenders no longer needed to do any risk assessment because any borrower became a virtual slave to the industry. Because lenders no longer had risk, they loaned more and more. Because any student could borrow more and more money, Universities could increase tuition to whatever level they wanted and afford to pay many more administrative positions. It has created an ever spiraling upward problem of increased costs and lifelong wage slaves. This one person "getting away" with reducing their debt by 60% or so is not the example of America going to pot; Congress making student loans undischargeable in bankruptcy was the example.

Bravo! The guy who needs a loan to study Chemical Engineering at MIT will get a loan at a good rate. The guy who wants to study Underwater Basket Weaving at Nowhere State University will not be able to waste the part of my tax money that goes to higher education.

 

[jimwsea]

If everyone understood how the fractional reserve banking system worked, the commentary on this subject would be different. Well over ninety percent of what the banks "lend" is not theirs; the funding is created by signing the promissory note. Banks basically lend us nothing of theirs, but charge us interest on it. I started a discussion on this with the mortgage guy at my kitchen table when I refinanced back in 2001. Surprised, he agreed with me and said I was the first to ever call him on this. That was the last "loan" I ever took on.

Why does a bank get $270k in interest on a $180k "loan", when the bank did not lend me their own funds? Similar process with a student loan.