[N8 v2.0]

Home loans, suv owners, now college grads??


http://online.wsj.com/article/SB121623686919059307.html?mod=yhoofront

For decades, the typical college graduate's wage rose well above inflation. But no longer. In the economic expansion that began in 2001 and now appears to be ending, the inflation-adjusted wages of the majority of U.S. workers didn't grow, even among those who went to college. The government's statistical snapshots show the typical weekly salary of a worker with a bachelor's degree, adjusted for inflation, didn't rise last year from 2006 and was 1.7% below the 2001 level.

 

[Samirol]

god damn college graduate freeloaders, why don't they get some bootstraps and pull themselves up

 

[ohio]

Home loans, suv owners, now college grads??


http://online.wsj.com/article/SB121623686919059307.html?mod=yhoofront

Well since we pulled the bankruptcy rug out from under college grads, this is our nice little way of continuing to subsidize the credit industry. This cash isn't going to kids. It's going to Sallie Mae.

 

[Samirol]

Well since we pulled the bankruptcy rug out from under college grads, this is our nice little way of continuing to subsidize the credit industry. This cash isn't going to kids. It's going to Sallie Mae.

the article just talks about how college degrees don't necessarily mean you will get a job, the government hasn't done anything yet

 

[Stray_cat]

Home loans, suv owners, now college grads??


http://online.wsj.com/article/SB121623686919059307.html?mod=yhoofront

So where does the article mention gov. aid?

 

[BurlyShirley]

Well since we pulled the bankruptcy rug out from under college grads, this is our nice little way of continuing to subsidize the credit industry. This cash isn't going to kids. It's going to Sallie Mae.

The wife owes Sallie Mae a king's ransom. There was no way around it, and that's just how it is. If she were to fall victim to downsizing (unlikely b/c she's a phys. therapist) and the gov't wanted to bail us out, hey, I can't say I wouldn't welcome the help. WTF else are ya gonna do?

 

[X3pilot]

What's ridiculous is that average Americans have to sell their souls to the devil of all debt to get a college education and try to contribute to their families and society and yet we can pass legislation on a Farm Bill to provide subsidies to thoroughbred race horse owners to raise million dollar horses.

Weird analogy, I know but hopefully you get the point. That being that if anything today should be 'bailed out' it should be student loans. I bet that money back in all the pockets would be a hell of an 'economic stimulus'

 

[ohio]

The wife owes Sallie Mae a king's ransom. There was no way around it, and that's just how it is. If she were to fall victim to downsizing (unlikely b/c she's a phys. therapist) and the gov't wanted to bail us out, hey, I can't say I wouldn't welcome the help. WTF else are ya gonna do?

Yup, Sallie Mae owns me as well, though I was fortunate enough to graduate when rates were lowest. But I'll have that auto-pay running out of my checking account for 25 years...

(Guess I should have read the article, but my point was until a few years ago student debts could be written off in bankruptcy filing. No longer true. Now even if you file bankruptcy, your student loans will persist. No clean slate for you.)

 

[BurlyShirley]

What's ridiculous is that average Americans have to sell their souls to the devil of all debt to get a college education and try to contribute to their families and society

It's basically a retarded system. Jen has a doctorate degree, but owes money to the point that it probably would've made more sense for her to just get an associates degree as a PT assistant... 5 less years of school to work and accumulate a salary, and many tens of thousands less debt. Sure she has a little more prestige, but we're really no better off financially.

Edit: Thankfully, because Ive had the GI bill going, I dont owe nearly as much.

 

[jimmydean]

(Guess I should have read the article, but my point was until a few years ago student debts could be written off in bankruptcy filing. No longer true. Now even if you file bankruptcy, your student loans will persist. No clean slate for you.)

Not only that, but if you file for bankruptcy, you still have to make payments on your student loans unless you are approved for a forbearance (interest will still accrue as well).

I understand some of why they do it, but a stupid friend of mine dropped out of school 4 classes short of his AS degree and can't get a forbearance because he never graduated. I think he's doubly stupid for not finishing, but I have never used my AS (same school, same degree) either. But at least I have something to show for the debt, too.

 

[$tinkle]

Edit: Thankfully, because Ive had the GI bill going, I dont owe nearly as much.

this.