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    PoopiesAFHamilton Nolan
    8/06/13 12:40pm

    Aren't student loans just taxes for those not born rich and dare to get an education?

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      Arctic16PoopiesAF
      8/06/13 12:58pm

      That's a good way of putting it. I never thought of it that way.

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      ChunkLovesSlothPoopiesAF
      8/06/13 1:00pm

      I went and bought a ferrari today. I can't drive it to work. I couldn't afford it. But it is a lovely car. A real work of art. I took out loans to pay for it. I can't afford to pay back those loans. How dare anyone deny me that?

      I mean it's not like these people had the choice to not buy something so expensive right? It's not like they had the knowledge that English lit majors aren't getting paid boat loads right? And it's not like they want to hinder the American economy by forcing the population to subsidize them in what is essentially a non-productive pursuit right?

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    libraryscienceHamilton Nolan
    8/06/13 12:34pm

    This is going to be bad until the boomers finish dying.

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      flyonthewalllibraryscience
      8/06/13 12:36pm

      This sounds so morbid and dark, and my parents are boomers (not all are bad) so it kills me to agree with this statement.

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      libraryscienceflyonthewall
      8/06/13 12:48pm

      My parents are too. But it's a fact. They are retiring now and drawing money out of the system but they are intelligent and capable and many, many continue to work in consulting capacities. They are drawing money out of the system and they aren't leaving any room for upward mobility. Partner this with advances in technology and ERP systems and offshoring and there just isn't enough job creation. I don't know how any kid looks at school these days and says it's worth it.

      Sorry mom and dad but really, it's the truth. The system's set up for you and only for you.

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    tabernack123Hamilton Nolan
    8/06/13 12:53pm

    If you saw the way many students use loans you'd be blown away. I'm a prof and I cringe when I hear students talk about loans as if they never need to be paid back.

    I have seen students who live with their parents and walk to campus borrow the maximum in living expenses each semester. There are plenty of iPhones, xBoxes, and Beats by Dre headphones being purchased with student loan money today.

    Students should also be told on no uncertain terms that certain majors do not lead to jobs that allow you to pay back student loans. It pisses me off when people say "it's not about job training..." I fully understand that it is about preparing students for life, but allowing kids to bury themselves in debt with no ability to pay it back doesn't prepare them for life either.

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      wormphdtabernack123
      8/06/13 1:03pm

      Are these students also eating T-bone steaks while driving Cadillacs?

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      김치전!tabernack123
      8/06/13 1:14pm

      So if it's about job training, why are we sending students to high-priced universities instead of trade schools? The essential problem is that our society sends the message that the only path to a successful, productive life is through an undergraduate university degree, and that there are unlimited jobs for those graduates. This myth is nothing but a balm so that we can all feel better about our society's complete lack of social mobility, and while it's a pretty lie, it's the reason why undergraduate education costs so much and why we're so willing to send 17 and 18-year-old children into a lifetime of debt slavery.

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    Rich JuzwiakHamilton Nolan
    8/06/13 1:00pm

    Will she marry me?

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      Normcore RockwellRich Juzwiak
      8/06/13 1:31pm

      She does look good in white.

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    Death BlowHamilton Nolan
    8/06/13 2:25pm

    I think a lot of people fail to realize how much of their own student debt is a product of their parents' financial planning (or, lack thereof). My sister and I were both told by our parents that we could go to any school we could get into - and "they'd make do". Perhaps it is because they were both public school teachers and therefore valued our educations more than most parents do, but it also means that they were willing to make sacrifices in order to deliver on that promise. Things like only going on that one vacation per year, tops...and not getting new cars every two years...not buying a boat...clipping coupons...not buying that timeshare they always wanted...all of that stuff. Instead, they SAVED, PLANNED, and when it came time for us to go to school, we both got into and attended out of state private universities (back when tuition was in the $25-30k/year range...so..10-15yrs ago). We had the benefit of some financial aid when we over-lapped for two years to minimize both their costs (not to mention our own debt), plus some academic/athletic scholarship help. But we also worked multiple jobs in high school and college for our own spending money, and both left with manageable debt (no idea what hers is, but mine started around $34K). I finished 10yrs ago, I have 2.88% interest locked, and I pay my $200/mo and will continue to do so until it's either paid over time or I find a way to knock it out in a few big chunks.

    Given today's tuition costs, I don't know if my parents would be able to tell my sister and I the same thing today - but I'm glad that there was a time when they were able to while making good on it. I also can't even imagine what it would look like to have some ungodly sum of loans to repay, either. The fact that I feel like I pay and the number never really seems to change is disheartening enough. While I feel bad for those who are buried in student loan debt and no means to escape it, I just hope they don't have to ask themselves "why did Mom get that new Lexus my freshmen year instead of pay my tuition" or "why did dad spend $20k on the renewal rights to his season tickets at the new Giants Stadium during my junior year instead of my tuition".

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      OtherPeoplesSpreadsheetsDeath Blow
      8/06/13 5:12pm

      LoL, public schoolteachers salaries cant even pay for 1 year of their kids college tuition anymore.

      I have many, many friends who are teachers. They can't afford to pay for their kids to go to school, no matter how many coupons they clip. Hell, they can barely afford to pay rent on their apartments.

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      Death BlowOtherPeoplesSpreadsheets
      8/06/13 6:36pm

      My mom's first salary in like 1973 or whatever was I think $7,400 PER YEAR. It took 5yrs to get a $100 raise.

      By the time my sister and I went to school, they were making decent salaries with probably a combined 55 years under their belts (and had dual pensions to look forward to). But they were always responsible spenders, lived within their means, and managed to save. That all said, I still have no idea how they paid for the amount of higher education that they did, and further don't know if they still could have a decade later given how fast tuition has risen.

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    JohnMcClanesSmirkHamilton Nolan
    8/06/13 12:54pm

    Nows as good as time as any to remind ourselves that the total amount of outstanding student loans in the U.S. (1 Trillion dollars) is roughly the same we wasted building the F-35 which still doesn't even fucking work.

    The Trillion Dollar F-35 Is Grounded Yet Again The Trillion Dollar F-35 Is Grounded Yet Again The Trillion Dollar F-35 Is Grounded Yet Again

    In what is becoming almost as consistent as the sun rising in the east and setting in the west, the … Read more Read more

    And remember guys: austerity. We are RUNNING OUT OF MONEY. Nope, don't got any, all out.

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      delete-meJohnMcClanesSmirk
      8/06/13 1:03pm

      That fucking plane can hover (in the B configuration) and has space for laser pods (seriously). Have some respect!

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      flyonthewallJohnMcClanesSmirk
      8/06/13 1:07pm

      But we need a out of control military budget or else everyone will get us! EVERYONE! It isn't enough to outspend almost every other country in the world combined!

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    L0N35T4RHamilton Nolan
    8/06/13 12:41pm

    Currently, my wife and I are able to repay...but only for now. We're on the 'graduated' plans....so you start with a base payment, and every 2 years your payment goes up by 20%. In the end, we will end up owing $2k/mo. in student loans (both have Masters degrees). We both have jobs in our fields, are middle-class...but 2k a month in student loans is absurd. The other route was a monthly payment that we currently cannot afford with a newborn, car payments, and mortgage. I know some of you will bark about having a baby and buying a house when you have so much student loan debt...but we refused to put our financial lives on hold until we got our loans paid off.

    So we're riding the wave...hoping as time goes on, we will make more money and be able to afford a higher payment. If not....then we'll cross that bridge I suppose and figure out Plan B.

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      EmotionalFriendL0N35T4R
      8/06/13 1:03pm

      As predicted I'll be the one to scold you for living outside of your means. Having houses and children and cars aren't for us highly educated folks anymore. You can only have that stuff if you have a GED and are on government assistance. We exist solely for the purpose of FUNDING those government assistance programs and then living off of what little we have left until we get to the age where society no longer views us as useful where we will then be cast aside to die alone and impoverished. That's the dream.

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      bnceoL0N35T4R
      8/06/13 1:07pm

      Consider me one who barks. By next year (when I get married and will start trying for kids), I'll have my CCs done with and her car paid for. Then I know I can afford a kid and a house. Until then, they are not options and are off the table.

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    AldoraGreelHamilton Nolan
    8/06/13 12:48pm

    I'm fortunate enough to have attained my loan and completed my degree a year before the rate hike. I am also very thankfully one of the 4/5, as I work in a field that is in burgeoning demand and I have a well-paying job. Even so, I'm not happy to be strapped with an $800 a month payment for the next 30 or so odd years to pay back the privilege of earning the education I received.

    I'm thankful for the opportunities that lead to the life I lead, sure, but it's still ridiculous. I feel for the people unfortunate to have their life's passion for an education in a field they love strap them with unpayable debts.

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      FatlawyerAldoraGreel
      8/06/13 1:03pm

      My loan repayments are about $2,000 per month. :[

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      AldoraGreelFatlawyer
      8/06/13 1:10pm

      Wow. I feel for you. I thought $800 was holding me back from a better quality of living. I can barely wrap my head around $2000.

      Good luck.

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    CHOmyGodHamilton Nolan
    8/06/13 1:06pm

    All of my student loans are either in forbearance or past due because i've reached the "you can't be in forbearance anymore" limit. i just LOL every time i see it because there's absolutely nothing i can do about it.

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      Ara_RichardsCHOmyGod
      8/07/13 12:31am

      Gotta have a plan B. Do you have a passport?

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    VampireCircusHamilton Nolan
    8/06/13 12:35pm

    I'm sorta surprised that 4 out of 5 can...

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      labyrinthineVampireCircus
      8/06/13 12:58pm

      That was my reaction, too. "1 in 5 can't? That seems awfully low..."

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      A. Nonie MeusVampireCircus
      8/06/13 3:06pm

      We keep forgetting something, which is that college graduates are getting jobs. The unemployment rate for college graduates is way, way lower than for everybody else. Also, while some students take out $50K or $75K or more in loans, many students end up with $5K or $10K or $15K.

      It is NOT the case that every recent college graduate is drowning in debt while working 20 hours a week at Starbucks. I really think this story is being misrepresented in a lot of media outlets, which does not help fix the underlying problems that DO exist.

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