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Debt Crisis: ‘Alarm Bells Are Going Off’ As Americans Default On Student Loans At Record Levels

Mac Slavo
February 27th, 2019
SHTFplan.com
Comments (88)
Read by 3,864 people
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Americans who took out loans to pay for a college education are defaulting on those debts at record levels.  The country has never been as indebted with student loans as it is now, and the problem continues to spiral out of control.

In just the third and fourth quarters of last year, there were around $166.4 billion in student loan delinquencies that have been in default for 90 days or more, according to the Federal Reserve, the United States’ central bank.  Steve Beaman, a financial analyst for the Florida Radio Network, the chairman of the McGraw Council, and the author of The Path to Prosperity said this is horrible news for the economy.  “The alarms bells are going off,” Beaman said.  “If we don’t do something about it quickly, it could possibly have a negative effect on the U.S. economy, hurt people’s economic life and have an adverse reaction to their credit score,” Beaman said.

Economic Woes: Student Loan Debt Crisis Is About To Get Worse

Jack Hough, a senior editor for Barron’s, also insisted this is a problem. “Let’s artificially puff up buying power with cheap (college) loans and it makes it even less affordable,” Hough said. Free college isn’t much of a solution either.  The problem with the cost of a college education is that money is easily available to be borrowed (or in the case of government-funded “free” college, stolen) in order to be paid.  When money is readily available, of course, colleges will raise their prices.  There’s no need to compete anymore.

According to Florida Daily, these defaults are incredibly concerned because of the amount of student debt Americans have racked up. About 40 million Americans have a collective $1.5 trillion in student loan debt. Some lawmakers have proposed ideas to get their money back. U.S. Senator Lamar Alexander, R-Tenn., who served as president of the University of Tennessee and as U.S. Education secretary under President George H.W. Bush,  has proposed an idea to make sure students repay the money they borrowed.  Alexander wants student loan payments to be garnished directly out of paychecks, insisting this will help the government get its money back.

 

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Author: Mac Slavo
Views: Read by 3,864 people
Date: February 27th, 2019
Website: www.SHTFplan.com

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88 Comments...

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  1. Frank Thoughts says:

    A simple solution is to make those students pay back the loans by serving overseas. We have 1000 plus overseas bases. All need to be manned, have their toilets cleaned. The students can do that.

    Another way to give back is to obligate female students to join a special force that attracts foreign investment. They suck, they f£&k until the trade deficit is reversed.

    • Beaumont 2.0 says:

      Can I make an unsolicited sale and tell you how to pay it off?

      In cargo systems, and I am sure countless other kinds of slavery, they are supposed to be working off some arbitrary amount. Is this price literally based on anything, and who was in a position to bargain.

    • What a truly pathetic comment

    • grandee says:

      now Frank wants everyone to get STDs

    • Gpwede says:

      So if our government can borrow money and never pay it back why should student loans ever be paid back it’s the same house of cards Bernie Madoff system right.I vote to forgive all the student debt, which is make-believe money, get it off the govt books and now the students can buy a cars and houses and see the biggest economic boom in the history

    • Anonymous says:

      Better solution is no student loans period. If you can’t afford college then college isn’t right for you. America needs blue collar workers too. Not everyone needs to get a degree, especially low class minority types that would just waste it on a worthless liberal arts degree.

      • How about since we already pay for public school whether our kids go their or not, lets teach skills in High school like mechanic, CNA, welder, EMT, truck driver etc. Counselors can help with job placement instead of hurt feelings. If kids want to learn advanced math, science and condoms on bananas they can go to college and pay for it themself.

      • Norrak says:

        The government has been taking people’s tax refunds for years on delinquent student loans. Also denying the renewal of license… driver’s license, nursing license, etc. until they pay what they owe. The question is what is our government spending our taxes on, and who’s pocketing(stealing) our taxes……The Clinton Foundation is one to reign in, and Obama seems to have become suspiciously rich in eight years. Our government is one of the biggest criminal elements of our time. There’s plenty of money to run this country and it’s programs if the elected officials would stop stealing it for their personal pocketbooks.

    • durangokidd says:

      Serving overseas will not do anything positive for the student debt. US military bases typically hire locals at the prevailing fiat wage and this is intended to bolster the local economy and spread US influence. US (foreign) nationals doing these jobs overseas would undermine US influence abroad.

      Divide $1.5 trillion by 40 million and the average student loan debt is $37,500. That is not too much for an individual to repay. Chances are many of these same people would opt out to borrow that much or more for a new car or truck if they could get it. Interest charges should not be compounded on these education loans, but simple interest only; which would be a big benefit to students who borrowed for their education.

      Another solution might be to allow student loans to be eliminated in bankruptcy which is not a current alternative. Student loan bks should be penalized for 14 years instead of seven for credit purposes if this were allowed.

      No way in hell that these kids should be given a FREE PASS on their obligations. Make these Snowflakes swallow the red pill !!! 🙂

  2. Beaumont 2.0 says:

    Any business which requires debt was never remunerative, can be reduced to simple parasitism.

    The Communists are making a fair point, that your imaginary funny money (not in any way tied to reality) can spent any which way.

  3. Maranatha says:

    If a man owes you $20,000, it’s his problem.
    If a man owes you $200,000, it’s your problem.

    If an entire generation of Millennials owes $1.5 Trillion, it’s everyone’s problem. It will never be paid back and it will be ruinous and it will harm future mortgages and harm the entire country.

    And yet, corporations routinely declare bankruptcy. Yet a student loan is almost impossible to discharge in a bankruptcy.

    Free Trade is ruinous to America and to jobs and who will buy existing real estate if the Millennials cannot?

    • Maranatha says:

      The robot/AI revolution will soon be here as already jobs are being eliminated. This means there will be less jobs and less job security. It will cascade and harm everyone.

      If your aging parent cannot get a decent price to go into a nursing home, then you will end up caring for them.

      Credit will dry up.

      There is no great bright future ahead that indicates a better situation for Gen Z, so you can expect it to be far worse.

      One cannot just get blood from a turnip. You cannot garnish from paychecks if they have no paycheck. You will just end up having a massive underclass lacking hope. The Democrats, Socialists, and open Marxists will exploit that and foment revolution through class envy. What little assets you own will be taken.

      And it will get even worse as squatters will become common and you will end up taking care of adult children or else they will be homeless.

      • rellik says:

        Mara,
        “The robot/AI revolution will soon be here as already jobs are being eliminated. This means there will be less jobs and less job security. It will cascade and harm everyone.”

        No sh it! People like me have and will bring it on. I designed, built, and repaired such systems. The whole problem breaks down to a significant portion of the population are idiots and a pain in the butt to be around or have to live with. The last thing I’d want to do is hire a Democrat. I’d rather build a machine to perform that job function.
        The hard question is what to do with all the human detritus? I’d just wall them off and give them all the food, water, and drugs that they want. Their souls are their business not mine. I am my brothers keeper, till he tries to destroy my life, liberty, and future.

        • Maranatha says:

          Can you defend what you wrote from a Biblical basis? Is that a Christian response or the natural man talking?

          • Beaumont 2.0 says:

            r said, “a significant portion of the population are idiots and a pain in the butt to be around or have to live with.”

            m said, “Can you defend what you wrote from a Biblical basis?”

            All are sinners, and the narrow path. Few are chosen. Parable of the talents and minas…

            • Beaumont 2.0 says:

              It’s past 12N PST. The natural man is getting hungry and can use a well earned mental break.

              • Maranatha says:

                Jesus says no one is good except YAHWEH alone. We’re all sinners whose only shot at Heaven is accepting Jesus Christ as Lord and Savior. But you work out your salvation and the responsibilities of it every day.

                I know rellik has done saintly things by taking care of family. I don’t believe he was altogether serious.

                But then in Christianity, each must pull his own load as well.

          • rellik says:

            To your first question, no. The Bible is the inspired word of God, but I have not memorized it, although if I were to Midrash, I’d find a defense.
            To the second question, to some degree some Christians are like Jihadists in the desire to die ASAP in order to go to heaven. I don’t subscribe to that belief as I believe suicide is the greatest of sins. I do what is necessary to save myself and others. To not fight and defend yourself, is to commit suicide.

          • Archivist says:

            Lot and his family left Sodom and Gomorrah to burn.

            There comes a point where you have to just leave people alone and let them suffer from their choices.

            Trivia: Do you know the 2nd shortest verse in the Bible? “Remember Lot’s wife.”

      • Beaumont 2.0 says:

        m said, “The robot/AI revolution will soon be here as already jobs are being eliminated. This means there will be less jobs and less job security. It will cascade and harm everyone.”

        hunting and gathering ->
        cottage industries ->
        labor mill ->
        mass production in the hands of the individual

        AI might be empowering.

        Think of all the different pastimes which some authoritarian said would be bad for you.

        You don’t have water rights, or to hunt or build or put whatever you want in your own body. To take pics from a model helicopter is a scare. (I thought of that when I was 6?) Now, you are being told that an extra helper, in the way of collation, levers, and servos is a social catastrophe.

        Do you get to operate it, personally, to your own tastes and level of conscience?

    • Beaumont 2.0 says:

      You must use my service, in order to be a valid member of society, and the price has just been raised $50,000.

  4. Bert says:

    Why are these stories always reported as a such big deal?

    There has never been more people in the USA.

    There has never been more people NOT working in the USA.

    There has never been more people attending college in the USA.

    It has never been easier to obtain college money in the USA.

    Why the big deal regarding the record number of defaults, when there is a record number of population, and a record amount of free money “created out of thin air-easy credit for even those that never intend to work a single day in their lifetime” available.

    This shitty news story reporting is just as shitty as Obama, the FIRST black president, the FIRST woman ____, the FIRST latino ________, etc … total shit!

  5. rellik says:

    It took me till age 34 to finally get my STEM degree. I have no student debt. I apprenticed, attended trade school, and worked full time as I earned my degree. I have none, nada, no respect for snowflakes that cry poor when they can’t make a living with their social studies/advocacy degree.
    I can build things, fix things, and design things, I’m useful to society. A woman’s or race studies professional is not. Eff them! Pay up, consider that your post graduate education.

    • beerman says:

      Cool, I didn’t realize building things that put people out of work by the 1000’s was useful to society but if you say it is then it must be so. Idiot.

    • Kevin2 says:

      rellik

      My hat is off to you doing that while working w/o debt. A STEM degree is a logical investment in the future for a bank to approve a loan. Would you loan someone unskilled tens of thousands for a degree that pays $10.43 / hr if they get a job at all? Why do the banks do it? The root cause is they know that they are in the end, “Too big to fail”. If this issue doesn’t present itself here then it will present itself there, housing, cars and who knows what else; it’s as far as the imagination. One can plausibly theorize that the root cause behind the root cause is fiat currency; get in a jam, we’ll create more money. With that kind of economic policy irresponsibility is guaranteed because it’s rewarded.

  6. Maranatha says:

    Do you really think they will pay since they have no money and future, or do you will pay as that is a standard Democrat ploy?

    You are preaching to the choir but it won’t change a thing.

    One industry absorbed all these university graduates. Now, there are no industries to do so and that affects every business who sold goods and services to middle class bkue collar workers.

    This is not 1990, and even then, industry was being hammered by waves of downsizings.

  7. h5mind says:

    Not every graduate is a useless snowflake. There are plenty of unemployed engineers, accountants, lawyers, and programmers. The problem is there aren’t nearly enough jobs for them all. Couple this with the fact US graduates are competing with foreign H-1 visa professionals who paid a few thousand for their degrees, and can happily accept salaries a fraction that of their American competition. Personally, I think the solution is for the Department of Education to be shuttered, and for Washington to get out of the education business because they suck at it– how many MENSA members work in Congress, anyway? Bring back schooling to the local and state level, and encourage apprenticeship to develop marketable skills and real-world experience.

  8. Angry Beaver says:

    Never went to school got my book learning at the kitchen table.
    Home schooled and I like to read so I consider myself fairly intelligent.

  9. Jakartaman says:

    Every Liberal arts college should be shut down.
    They are worst than useless and only promote communism andl lefty stupidity.
    Engineering/science/medical/vocational all good.

  10. Beaumont 2.0 says:

    Many technical courses sound like infomercials, for namebrand products, like when you watch a kitchen appliance or powertool being used on public access tv, except, it’s for an industrial purpose. You can find any lab test, for health or chemicals, etc. It’s possible to obtain all kinds of machinery, or chat-up someone who operates it. There are notices, posted to the effect that you are supposed to have credentials, but no polite person is usually asked for it.

    And, special interest groups, making donations to prestigious schools, can teach whatever they want. Whatever. They. Want. It doesn’t have to be useful, like what I am saying. Do you have a donation. Make something up. Yes, you.

    College used to be a like a public library and forum, like a book club.

    Restricted versions, were like a private museum, where you get to see someone’s valuables.

    Religion, mythology, art, measurements, and theory were discussed contemporaneously, in a free marketplace of ideas.

    College was not always a legal hurdle or a market control.

    People, believing in free agency and some kind of natural law, need to work on their morale, a lot more.

    Other people, please go back to discouraging yourselves, for the good of us all.

    That is all, for now.

  11. Soon this will work itself out like it or not. I favor stopping all loan payments since the young will be dying young due to abrupt climate change. More power to them.. revolt

  12. Maranatha says:

    The lower the amount of pay versus inflation, the less chance there will be a middle class. That breeds crime. The underclass will riot and there will be a vast increase in violence. How long will that last unopposed as others who are armed will make the case for civil war?

    Why do you think Millennials are apt to be socialists and marxists? Could anyone have predicted a Green New Deal that was so ridiculous that it would cost $600,000 per American household? At this point, the Democrats have sold the citizens’ birthright to illegal aliens and are proposing insane solutions that can never be enacted.

    • Beaumont 2.0 says:

      Take it outside, and don’t break anything. It’s been a long time coming.

    • Angry Beaver says:

      But but the Christians will ban together Right??? I mean that’s what you said isn’t it.

      • Beaumont 2.0 says:

        ab, in my interpretation, the “safe place” has more of an ephemeral meaning than say, gathering at Petra.

        To use an analogy, that most fundies would dislike —
        Like the Witch in the Wardrobe, or the extra train terminal on Harry Potter.

        There are different examples of being in the manifest presence of God, that simply don’t follow the ordinary rules of nature, imo.

        Noone is going to make you believe that, against your will, by way of force or superior reasoning.

        • jakartaman says:

          For Humans to find the concept of GOD crazy only solidifies my belief of their total arrogance.
          Mankind is a very yes very primitive specie – The evidence is our history of being wrong on most things and our present state.
          Think about some things – we kill our oun babies We treat cancer by cutting it out with knifes, then we burn it with Micro waves then we give the person poison.
          Yet we are so smart as to deny what we do not know – GOD

          Also look at the truly tragic shape the Catholic Church is in – God is patient but I don’t know hoe long it will last.

      • Maranatha says:

        If you actually read your Bible, you would know the answers of what to expect when the Great Apostasy happens.

        What side are you on? It is not obvious which is highly strange for an alleged believer.

        • Angry Beaver says:

          Been reading up on your fundamentalist beliefs.
          Abortion is murder agreed
          Christ is our saviour died for all our sins. Agreed
          Earth was literally created in 6 days.
          I’ll agree to disagree on that one
          the KJV is taken literally word for word
          I somewhat agree.
          The part I totally disagree with is your last basic tenet and that is.
          It is truly your belief there is NO room for debate discussion or open dialogue.
          It’s your way or burn in hell or be killed to purify and sanctifie God’s creation.
          Kinda sounds like Islam to me.
          I can see why after reading up on Christian fundamentalism people choose to not have anything to do with it. There seems to be no room for forgiveness and a wide criteria for one person to judge another and condemn them.
          Your faith is intolerant abusive and self destructive.

          • Beaumont 2.0 says:

            Why we must have these discussions with self-identifying “Christians”, I will never know.

            There are a number of interpretations, to choose from.

            Each has it’s pros and cons.

            Your questions was about End Times or Dominionism?

            What beliefs do you favor, and why?

            • Beaumont 2.0 says:

              ab said, “It’s your way or burn in hell or be killed to purify and sanctifie God’s creation. Kinda sounds like Islam to me.”

              “I am the way, the truth, and the life: no man cometh unto the Father, but by me.”
              — from John 14:6

              “And every spirit that confesseth not that Jesus Christ is come in the flesh is not of God: and this is that spirit of antichrist, whereof ye have heard that it should come; and even now already is it in the world.”
              — 1 Jo 4:3

              There is no reason to affiliate yourself with Islam, Christianity, or any other religion, but not adhere to it’s core philosophies. It says what it says.

              • Beaumont 2.0 says:

                However, some issues are considered peripheral.

                If it doesn’t affect a person’s salvation, we say he has liberty in those things.

              • Maranatha says:

                Exactly. There is zero wiggle room because of those two verses, and there are similar verses in the Bible. Most people do not read the Bible, and if they did, they would either change their ways, or abandon the faith.

                YAHWEH makes the rules, not me. Jesus says there is only one unforgiveable sin which is Blasphemy of the Holy Spirit. But then, if you willfully sin, and fail to ask forgveness, then you are a worse sinner than an unbeliever.

                The strongest condemnation is from the mouth of Jesus Christ in Matthew 25, and it’s to Christians who fail to follow through on their responsibilities. And they go to Hell and it is crystal clear.

                I think this verse is going to cause many to be in Hell.

                21 Not every one that saith unto me, Lord, Lord, shall enter into the kingdom of heaven; but he that doeth the will of my Father which is in heaven. 22 Many will say to me in that day, Lord, Lord, have we not prophesied in thy name? and in thy name have cast out devils? and in thy name done many wonderful works? 23 And then will I profess unto them, I never knew you: depart from me, ye that work iniquity.
                Matthew 7:21-23

                People have this weird idea that Jesus will give them an automatic pass while they knew what was wrong, never actually believed but did all the outward things to pretend to be believe, will never doing what YAHWEH willed them to do.

                Leftist Christianity is so heretical now as it’s all about doing whatever you want and directly violating what the Bible says to do.

  13. Sgt. Dale says:

    So what. if not this it be something else. Shit they been saying this for 12 years now. I’ll believe it when I see it.
    Sgt.

  14. Angry Beaver says:

    https://www.newsmax.com/t/newsmax/article/639249/113

    The 5 basic tenets of Christian fundamentalism.

    • Maranatha says:

      Rule #4 is incorrect. The issue is who are the chosen people of YAHWEH. To this day, some self-declared practicing J ews have issues with the largely atheist state of Israel.

      Bible prophecy like Luke 21 indicates Jerusalem as does Matthew 24, but the “hagia” ie the holy place is problematic as a 3rd Temple violates rules set in the book of Hebrews as Jesus became the passage through the veil of the Holy of Holies.

      Zionist Christians especially Dispensationalsts agree with Rule#4 but many Baptists absolutely do not.

      Anyone who denies Jesus Christ has neither Jesus nor YAHWEH according to 1 John.

      The other 1,2,3, and 5 are mostly correct.

    • Maranatha says:

      Rule 4 violates Galatians 3 and 1 John.

    • Maranatha says:

      Are abortion and homosexuality sins according to your beliefs?

      They are clear sins according to the Bible.

      Did Jesus rise from the dead according to your beliefs?

      He did according to the Bible. That is the entire basis for Christianity.

      Are there more than one ways to Heaven according to you?

      According to the Bible, Jesus is the only way to Heaven.

  15. Mensa Graham says:

    Did anyone expect anything else when our federal government gets involved?

    Our wonderful Federal Department of Education took over making 100% of student loans when President Obama changed the law in 2010.

    Another socialist idea gone to crap in a hand basket.

    Now we actually have congress getting ready to try to pass a law to mandate Medicare for all and a law for FREE college tuition.

    Let us talk abut doubling down on stupid.

  16. Just Wondering says:

    Borrowed just what I needed…Payed it all back.
    Worked two part time jobs.
    Didn’t have a new $75,000 dollar Truck, IROC Z28 etc..
    Latest Ipad
    Latest Iphone.
    No Credit Card.
    Got a degree that paid for it’s self.
    Not a P.Hd in fifth century polka dancing.

  17. Kevin2 says:

    I’ve heard it quite a few times from youth that they’re going to college for something they like. They like X and somehow a job will appear because, “I have a college degree”. Somehow the benefits of education, economic opportunity, has been lost to assuming that college in and of itself makes the former probable. Math, Science, Medicine, Engineering, the hard stuff, you can’t go wrong and likely these majors are paying their student loans. Loaning money for an art, sociology, interior decorating and a host of degrees is equivalent to loaning tens of thousands to someone unemployed who is likely to remain unemployed. If Uncle Sugar didn’t back up these “Too Big To Fail” banisters they might be more prudent with their money.

    • Maranatha says:

      In 1980, there were process engineers in industry who had a degree in history but that just got them hired. Then they learned how to make software updates and kept records.

      I met some real bozos but they could do the job.

      Now after free trade policies killed manufacturing, there are lots of folks with useless Bachelor’s degrees.

      Realize that there are few degrees that will get you a decent paying job as many require a Master’s and universities now mostly have part time professors. There are PhDs who are working part time.

      The sociology majors have the lowest pay. You practically have to be independently wealthy and a nut to be working in sociology.

      Lots of the folks with degrees can get provisional jobs working as substitute teachers. Their job situation is unstable but they can continually work until getting certified. It’s rotten work as it often is inner city education with kids who hate being in class.

  18. AnneMarie says:

    So… a bunch of thieves, then. Somebody paid for their education and they’re not paying them back. Thieves.

    • Maranatha says:

      Is a medical patient who cannot pay their bills, a thief?

      Is a business woman who goes bankrupt, due to a faltering economy, a thief?

      Is the POTUS, who has declared bankruptcy many times, a thief?

      Then why is a student who, cannot find work that will pay an adequate salary, a thief?

      This is reality now. We have a higher expectation for a struggling student, than the other three examples.

      I guess most of you think that it’s fine for an entire generation to be unable to pay educational debt, and terefore never buy a home? Does anyone think the US economy can cope when practically an entire generation is not buying a home?

      Hey it will get WORSE when Gen Z become adults as they are starting to do. There is no bright miracle on the horizon due to outrageous actual inflation. The Democrats and the RINO spend spend spend and the USA is bankrupt.

      Should the USA go to jail too?

      • Maranatha says:

        Eventually we will HAVE TO severely cut defense spending internationally, and when that happens, Russia and China and rogue nations will just pounce.

        The EU, Japan, and South Korea will be in trouble. All of Central America and South America, and Mexico will be in trouble. The Middle East and Africa will be chaos.

        All these state and government employees will lose their jobs. There will be massive unemployment.

        We keep kicking the can down the road, but this is what will have to happen as nearly 40 states are insolvent.

        We all keep pretending that these things don’t exist when actually the USA is bankrupt now.

    • Kevin2 says:

      AnneMarie

      “they’re not paying them back.”

      They likely can’t pay them back and if banking stood on its own feet w/o being both “carrot & stick”, covered by Uncle Sugar for loss and likely forced to provide loans to them by law it wouldn’t occur. Want a loan? Newsflash, there are far too few jobs in that field and they don’t pay a sufficient amount to pay me back, explain to me why I should loan you tens of thousands of dollars?

      I’m not slighting the debtors responsibility I’m just pointing out the creditors irresponsibility and the motivations behind it. In effect the same thing occurred with housing. People who had insufficient income, sub par credit history got floating interest mortgages. The banks were covered and “We The People” got the bill.

      • Maranatha says:

        Look at the situation in California where people make a very large income compared to elsewhere, but then are living in their cars.

        The system is collapsing…but it’s slooooooow as molasses.

        The feds know this and that is why they purchased billions of rounds of ammunition.

        One day, Social Security will be insolvent andthose folks won’t collect it. Meanwhile people have no savings. What then but massive collapse in America?

        The same is true in the EU. Japan is going extinct and is bankrupt now so South Korea will be the same.

  19. Bilge Pump McCoy says:

    Apparently it’s true – you really can’t get a 6 figure job with a degree in lesbian dance theory. Well who cares – these know-it-all social justice warriors need to flip burgers or throw newspapers. They borrowed the money and they are expected to pay it back. That’s how it works.

    • Maranatha says:

      And when robots replace burger flippers as is happening right now?

      • Archivist says:

        They will then be SOL, because they were too stupid to get a degree in area for which there is actual demand.

        I tell young people graduating from high school about this all the time. I tell them to be sure their course of study leads to a profession that needs workers and pays well. I also tell them that learning a trade is a better deal, when you compare the money spent and the potential earnings.

        • Maranatha says:

          Which is why for YEARS I suggested that floundering college students become RNs because literally every single one of them with initiative could earn decent pay after a two year program. And guys, especially combat vets as they have backbone, could make a lot of money through overtime.

          We have been in a nursing shortage since the seventies. So there are always jobs. The problem is inflation has not kept up but there is an endless amount of overtime to make up for it.

          Every student should at least consider it.

          Not many shoud consider physical therapy as the competition is fierce and that’s four years and few have the temperment.

          • Maranatha says:

            Formerly from 1980-2000, one could become a computer and electronics technician, often working on the job as a craftsman, and make a very decent wage, but NAFTA and GATT really messed that job up. Lots of welders and mechanics lost jobs too.

            Free Trade has been ruinous to America.

  20. Asshat says:

    All I can say is nobody held a gun to their heads and said your gonna take out this student loan. We all have to live with the choices we make or don’t make. They can get a regular job like the rest of us and have their pay garnished till the debt is paid. That is how real life is. a degree is overrated it just means you are a good student. It’s sad when stupid truck drivers make more $ than people with college degrees.

    • Anonymous says:

      I logged just over 2 million accident free miles in my 17 year career as a long-haul truck driver..
      Occasionally I would encounter someone like you that believed the stereotype Hollywood gave truckers as being dumb,obese,dirty,drug addicts,etc.. I would ask these people if they knew where their Food came from? They all would say the same thing;” From the store”..When I would asked where their shoes came from? Same reply…When I would tell them that EVERYTHING they own and use was at one time on a TRUCK,they didn’t know what to say..Without trucks America STOPS!!! Next time you meet a trucker Asshat thank him/her for delivering the products you use and consume because without those drivers you wouldn’t have those things..

      • mississippimom says:

        so if you truck drivers will organize and stop driving for just one day and let some grocery stores run out of goods you will then understand what power you have. Alone, you dont matter. Organize.

  21. Kevin2 says:

    Asshat

    ” It’s sad when stupid truck drivers make more $ than people with college degrees.”

    No it’s not. Who provides more worth to society a safe tractor trailer driver or someone educated in something that no one cares about? That semi driver has responsibility. His value is replacement. They make what they make largely due to pure supply and demand. The day of the mighty Teamsters Union are long gone. I seen TT drivers back in to tight places with one ft clearance as a matter of routine. It’s skilled, hell I hated pulling a 38ft 5th wheel camper and backing it in.

    A degree in art?

    GTFOOH

    There are “COLLEGE DEGREES” and then there are “college degrees”.

  22. ScoutMotto says:

    It’s very simple. You incur debt, you pay it.

    I had to pay back all of my debts. I ended my mortgage nine years ago. House is paid off and I have no other debts. I expect these people to pay their way just like I did. The last thing I want to hear any deadbeat say is that they are somehow owed free college and loan forgiveness. No. Pay your debts, like the rest of us.

  23. news flash this is just the beginning. It first happened in New England where the cost of education was out of reach for the average person while it was still essential free in California (remember the days?) Anyway, it only gets worse from here. The young who don’t want to take on any more debt will not get married until their 30’s or 40’s if at all and might through caution to the wind and have one kid by the time they’re 40. Go to any public or private school play…those gray haired people in the audience are the parents not the grandparents. They will also suck any equity their parents accrued in their lifetime before they can inherit just because the “greatest’ generation doesn’t want to see their grandkids in poverty. Oh yeah, home ownership – not gonna happen. My little town has home ownership to renter rations similar to unaffordable big cities such as San Fran. End Game.

  24. Archivist says:

    Silly me. I paid off my college loan. Of course it was only about $2,500.

  25. Scarecrow says:

    I pity the fool that co signed for that loan !

  26. buffalolips says:

    Fact. You can thank the ACA (Affordable Care Act) AKA Obamacare and all those politicians who perpetrated this financial atrocity on the United States (Democrats – fact). It was the ACA that “nationalized” what we call student loans. Student loans used to be private, bank loans to individuals and to families. The ACA is an Act whose gifts to all American taxpaying citizens will keep on giving for decades in the most financially punitive way imaginable. It was just unrecognized to most Americans for what it is, an early form of AOC’s “free education for all” and “Medicare for all”, socialism writ huge.

  27. Maranatha says:

    The socialists want everyone to be a government employee and that will be an unmitigated disaster. They would then take all these indoctrinated students with useless degrees and make them bureaucrats and clerks pushing paper around and makework by compiling useless data and making charts. It’s absurd.

    The only way Obamacare can be worse is to make every RN and physician and med tech to be government employees.

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