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...so when does the student loan crisis hit?

Discussion in 'Politics & World News' started by BurlyShirley, Jun 1, 2010.

  1. Pesqueeb

    Pesqueeb bicycle in airplane hangar

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    Did you watch the "Hunger Games" review that came on after? LOL'd.
     

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  2. SkaredShtles

    SkaredShtles I love NEWCASTLE and will ONLY drink NEWCASTLE!!!!

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    No - but I watched their review of The Hobbit. :rofl:

    Edit: same reviewer. Hilarious!
     
    #202 -   Jan 7, 2014
    Last edited: Jan 7, 2014
  3. 292.89

    292.89 Chimp

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  4. jimmydean

    jimmydean The Official Meat of Ridemonkey

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    :stupid:

    The lady and I have talked about "if" based on the idea that the current house might someday float above water. I'm not sure I would be so quick to buy unless it was a unibomber shack in the woods. Not a 'burb, that's for sure.
     
  5. SkaredShtles

    SkaredShtles I love NEWCASTLE and will ONLY drink NEWCASTLE!!!!

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    Don't tell Adventure. :D
     
  6. CrabJoe StretchPants

    CrabJoe StretchPants Reincarnated Crab Walking Head Spinning Bruce Dick

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    I <3 my house.
     
  7. jimmydean

    jimmydean The Official Meat of Ridemonkey

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    I like my house, just hate my neighborhood. The neighborhoods I want to live in have less house and that would be nice.
     
  8. jonKranked

    jonKranked Press Button, Receive Stupid

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    so if owning a home isn't the american dream, does that mean the american dream is a lifetime of dealing with sh*tty landlords?
     
  9. CrabJoe StretchPants

    CrabJoe StretchPants Reincarnated Crab Walking Head Spinning Bruce Dick

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    I <3 my neigborhood as well, I definitely lucked out when I bought it. Each plot is about 2 acres minimum, smallish neighborhood (I'd say 50-60 houses) surrounded by nothing but woods and ponds. Middle class neighborhood where everyone waves and says hi, but otherwise leaves you the fvck alone. Dream come true for an introvert like myself.
     
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  10. dante

    dante Unabomber

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    It has to all be local. Out here we've got a great house in a great location and a cheap mortgage to boot. Most 30-35 year olds that I know out here have already bought houses, including some in the past couple years. Housing is (relatively) cheap, and you can actually live close to places that you actually want to go, like work, downtown, etc.

    Totally different story on Long Island, even a ~decade ago.
     
  11. jimmydean

    jimmydean The Official Meat of Ridemonkey

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    She bought at the wrong time when she was working out there. Now she is working 3 days a week in Portland (30 mile commute) and I work in Beaverton (40 mile commute each way) and I'm not sure the market will ever get that strong that far out. It's not a horrible area, but with the zombie house on one side (been empty 2 years while the owner is in prison for child rape) and my neighbor in foreclosure on the other side. He's almost $100k in the red on his place, she is more like $30k on hers. We aren't too far from the river and with the boat it's quite nice. There is also some amazing riding not too far in Stub Stewart. But there is almost nothing in town and Scappoose while not much better is 15 minutes closer to downtown.

    If we got a good price for ours and we found an area we really liked, buying isn't out of the question. But we've also been looking at buying a place in Hood River to escape to and just rent modest digs in town. I'll be there for 5 days in a cabin (that is for sale, but not what we want) and to be honest, I'd rather put my energy into something I see myself being in later in life rather than paying a lot for something I will eventually give up.

    <edit> If you look at current housing prices in Portland, they are insane.

    Want...
    http://portland.craigslist.org/mlt/reb/4536596166.html
     
    #212 -   Jul 16, 2014
    Last edited: Jul 16, 2014
  12. wiscodh

    wiscodh Monkey

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    if there was only a high speed train between HR and PDX......
     
  13. SkaredShtles

    SkaredShtles I love NEWCASTLE and will ONLY drink NEWCASTLE!!!!

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    If there was... nobody would be able to afford to ride it. :D
     
  14. jonKranked

    jonKranked Press Button, Receive Stupid

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    no, they just wouldn't take it because its not a fixie
     
  15. eric strt6

    eric strt6 Resident Curmudgeon

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    ahh so glad I worked my way through school, yeah it took me 3x as long but no residual debt and a current credit score of 770. House we bought in livermore 2 years ago has increased in value by 120K

    Only current debt is the mortgage, Cars are paid off so are the credit cards

    only downside is that now I'm a cranky old fart
     
  16. Pesqueeb

    Pesqueeb bicycle in airplane hangar

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  17. johnbryanpeters

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  18. Pesqueeb

    Pesqueeb bicycle in airplane hangar

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    College girls are too old for him I'm pretty sure.
     
  19. mandown

    mandown Poopdeck Repost

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  20. StiHacka

    StiHacka Compensating for something

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    i͓̽t͓̽ i͓̽s͓̽ fu͓̽l͓̽l͓̽ o͓̽f s͓̽t͓̽a͓̽r͓̽s͓̽
    They can probably learn more from the sugar daddies than from the castrated classes nowadays.
     
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  21. jimmydean

    jimmydean The Official Meat of Ridemonkey

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  22. jimmydean

    jimmydean The Official Meat of Ridemonkey

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    And after the death of my alma mater comes the debt strike.

    ITT Tech students announce debt strike after campus closures

    My ITT loans are bad, but mostly because my ex spent my GI Bill money. :rofl:
     
  23. Toshi

    Toshi Harbinger of Doom

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    Yeah, good luck with that "debt strike". Enjoy shopping at buy here pay here car lots the rest of your adult life!
     
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  24. jimmydean

    jimmydean The Official Meat of Ridemonkey

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  25. mandown

    mandown Poopdeck Repost

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  26. Jm_

    Jm_ Turbo Monkey

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    Similar to my idea. Lots of colleges make BS claims about job placement and trick students into committing to their program, committing tens or hundreds of thousands of dollars. IMO, if students default, they should come after the school for the $$, because they shouldn't be accepting anyone that just ponys up a bunch of money, they should be held accountable for their programs. I bet real fast those schools would have solid entrance programs and standards that endure the people attending aren't wasting their time or money. Pisses me off that you have to make these decisions and commitments when you are 17 and don't know your ass from a hole in the ground.
     
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  27. jstuhlman

    jstuhlman We noticed.

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    Please see my signature.
     
  28. mandown

    mandown Poopdeck Repost

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    image.png
    Helpful post is helpful.
     
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  29. jimmydean

    jimmydean The Official Meat of Ridemonkey

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    What about my ex who took 6 years to get her AS degree (at about $50k or so) and is going on 4 additional years to get her BS degree. She has at least a year to go and plans to get her Masters so she can teach.

    What does she want to teach? High school art. Because not only is that a YUGE growth industry, but the pay is amazing!!! She will start at $35k a year with summers off. She will only have about $150k in student loans, so the ROI on this venture is a given.

    IMO this is a major issue with higher education, there isn't an ROI study done. My alma mater cost me $40k and went tits up (ITT, thanks for nothing). But my AS got me into where I am now and they did help place me in a couple gigs early on. Because my AS was bullsh!t, I had to go to University of Phoenix for my BS at a cost of about $50k moar. But at least my salary covers my $900/month student loan payment. :panic:
     
  30. mandown

    mandown Poopdeck Repost

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    On Halloween, I was at a party with someone in the financial aid department at USC. She said the tuition alone is up to $81k per year. If you finance that, that's over $320k of debt to pay off. When I started off, I did community college for two years, then a $20k per year university, which was cheaper than USC but still in the same range at the time. I was able to get a job making more than my annual tuition per year, right out of school, and I paid off the debt immediately. I can't fathom where one would now get a just out of college job making more than the $81k annual tuition. Layer in a wedding, and trying to finance a house to start a family (median LA prices are well over $500k, which is exceptional). Welcome to modern slavery.
     
  31. Toshi

    Toshi Harbinger of Doom

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    Her only hope is PSLF.
     
  32. SkaredShtles

    SkaredShtles I love NEWCASTLE and will ONLY drink NEWCASTLE!!!!

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    As long as you're coming out of here... no problem: https://www.mines.edu/
     
  33. jimmydean

    jimmydean The Official Meat of Ridemonkey

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    :rofl: She will have to finish school before they try to collect. Then she has at least 10 years of forbearance, so she'll be 65-70 when she starts to repay, if ever.
     
  34. mandown

    mandown Poopdeck Repost

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    I'm unfamiliar.
     
  35. SkaredShtles

    SkaredShtles I love NEWCASTLE and will ONLY drink NEWCASTLE!!!!

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    Colorado School of Mines is one of the preeminent geo/chem/petro-engineering schools in the nation. I'm currently brainwashing my children to prefer it.

    :D
     
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  36. Toshi

    Toshi Harbinger of Doom

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    Plus you can save on room and board by having them live at home… forever.

    I'm budgeting for my kids to go to UC CU Boulder. (Why is it UCDenver but CU Boulder? Gah.)
     
  37. SkaredShtles

    SkaredShtles I love NEWCASTLE and will ONLY drink NEWCASTLE!!!!

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    Errrr... fuck no. I'm going to enforce it by moving into a smaller house immediately upon departure of 2nd kid. :D
     
  38. Sandro

    Sandro Turbo Monkey

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    Has there ever been an attempt in the US to implement something akin to the dual education system for vocational training that is commonplace in Europe and particularly in Germany? I know each country has it's peculiarities, but to my snooty Euro-Commie mind, this seems like such a no brainer if you want to equip young people with relevant skills and connect them to employers. I'm sure the for-profit education industry would love it.

    The way it works over here is that students spent half of their week as an apprentice in a company and the other half in a state owned vocational school and even receive a small wage. It's not a cheap system, but it integrates people into the work force early on and is a great way for companies to recruit workers that have just the skill set they need and that they have been able to evaluate for several years.
    Quite a few former vocational students go on to universities later on and i much prefer hiring people that have been exposed to a working environment early on instead of heading straight to college.
     
  39. SkaredShtles

    SkaredShtles I love NEWCASTLE and will ONLY drink NEWCASTLE!!!!

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    Yah see... 'round here, all our kids are smart and special and gonna go to university. Which has exacerbated this whole student-loan shit. Most of the kids not cut out for college don't find out until they are in their 3rd year, still 4 years from graduation, and $100K in debt.

    Parents are doing a lot of kids a disservice by not encouraging more of them to try vocational programs (they are here).