Pisses me off: Student Loan Forgiveness Act of 2012 (H.R. 4170)

[rwh11385]

I really cannot believe the gall of people to support this. (And all of them went to a liberal arts school and didn't get educated in anything in demand)

It's absolutely socialist BS and people should be accountable for their choices. People have been telling them to go to college to prepare for a career so they can make money and pay off their loans (if they took them out, instead of going to cheap schools and working part-time, earning scholarships, getting good internships, etc.) But many major in _____ "studies" and have a disgust for the corporate world and feel "too good" for manual labor.

Their preference for being highly paid with no skills or useful knowledge should not be paid for by those who have worked hard and found success. Utter crap.

[slaterd]

It does kinda beat the point of what our parents and other mentors have been telling us for our whole lives. Work hard and earn what you worked for. This is looking like handouts now but I can't complain. I'm a college student and I'm 20k in debt. Some people don't really have an option, some can't even get student loans to go to school. Alot of it is because the way society is and the way the job market is it is almost mandatory now to go to school and now schools are getting more expensive, which in turn means more money that these companies are losing because students can't pay them off and defaulting. It's just a circle where everyone is the victim and no one is really responsible.

[BraveUlysses]

The student loan bubble will have to pop at some point--tuition is spiraling out of control, people are enslaving themselves to debts they are legally unable to free themselves from.

I don't agree with debt forgiveness, but at the same time the standard that applies to student loans compared to credit cards, mortgages and car loans is something that should be re-evaluated.

[z31maniac]

It does kinda beat the point of what our parents and other mentors have been telling us for our whole lives. Work hard and earn what you worked for. This is looking like handouts now but I can't complain. I'm a college student and I'm 20k in debt. Some people don't really have an option, some can't even get student loans to go to school. Alot of it is because the way society is and the way the job market is it is almost mandatory now to go to school and now schools are getting more expensive, which in turn means more money that these companies are losing because students can't pay them off and defaulting. It's just a circle where everyone is the victim and no one is really responsible.

I graduated with $25k in student loan debt and then I put it on the extended plan to lower my payment since I didn't have a job out of college. Except for a $10/hr temp gig.

My payment is $120/month. Maybe the kiddies should give up their iPhones and pay their damn debt.

[rwh11385]

There is a growing number of schools with no-loan policies. If you are under a certain level of income, you go to school for free.

http://www.finaid.org/questions/noloansforlowincome.phtml

It is not mandatory to get a college degree to get a job. If anything, the skill mismatch has been caused by this misconception as well as the lack of desire for kids these days to learn a trade or skill through a technical school. Factories need highly skilled employees and they can get paid nicely, versus unskilled labors.

http://money.cnn.com/2012/02/27/smallbusiness/youth_manufacturing_jobs/index.htm

http://www.theatlantic.com/magazine/archive/2012/01/making-it-in-america/8844/?single_page=true

http://www.washingtonpost.com/business/economy/us-manufacturing-sees-shortage-of-skilled-factory-workers/2012/02/17/gIQAo0MLOR_story.html

"But as the 2012 presidential candidates roam the state offering ways to “bring the jobs back,” many manufacturers say that, in fact, the jobs are already here... What’s missing are the skilled workers needed to fill them."

"...as automation has transformed factories and altered the skills needed to operate and maintain factory equipment, the laid-off workers, who may be familiar with the old-fashioned presses and lathes, are often unqualified to run the new.

Compounding the problem is a demographic wave. At some factories, much of the workforce consists of baby boomers who are nearing retirement. Many of the younger workers who might have taken their place have avoided the manufacturing sector because of the volatility and stigma of factory work, as well as perceptions that U.S. manufacturing is a “dying industry.”

The circle stops when people realize they have to be responsible and don't choose to go to private (expensive) liberal arts schools and collect massive debt for something that won't result in a job capable of paying off the loan. Or go to community college to earn gen ed credits and transfer into a 4 year college. Or work part-time in the cafeteria like some people I know have.

Partying for 4-5 years at an expensive school, learning something that is not valued in the market, and then complaining about the debt is stupid... and bailing them out is horrible for the country's future.

edit: Yes to z31's point about iPhones. The kids protesting unfair student loan debt they agreed to be responsible for have expensive Apple products??

[Ryan Stewart]

The student loan bubble will have to pop at some point--tuition is spiraling out of control, people are enslaving themselves to debts they are legally unable to free themselves from.

I don't agree with debt forgiveness, but at the same time the standard that applies to student loans compared to credit cards, mortgages and car loans is something that should be re-evaluated.

The issue is everyone is going to try to keep inflating it using taxpayer money. Its now the american way. If you fail, we bail you out. If you don't like bailing people out then you are a heartless capitalist.

[A Sucked Orange]

It's just a circle where everyone is the victim and no one is really responsible.

Please. The last several generations have been utter pussies - poor innocent "victims". They do nothing, accomplish nothing, they are good for nothing. They earn worthless degrees, preach a love and acceptance for every sort of societal decay and nihilism, they have no ambition, create nothing of value, they party and fuck around endlessly acting like children instead of keeping their future in mind and doing what is necessary as dictated by life.

[Ryan Stewart]

Or go to community college to earn gen ed credits and transfer into a 4 year college. Or work part-time in the cafeteria like some people I know have.

Did essentially both of these things and the JUCO route was great. Sure it didnt come with the cache of being a fratty and getting shithoused at Kansas compared to pissing away my weekends in Kansas City it allowed me to work a more lucrative job (KC job market is better than a college town and not competing with other kids for the simple jobs). Of course by the time I got to KU I was into the meat of the degree and didn't have time to do the "fun" stuff as much. I guess, other than hanging out with friends on the weekend I didnt really get to "enjoy" college.

But then again, making 90k/yr 4 years after graduation is also fun.

[Thizzelle]

I really cannot believe the gall of people to support this. (And all of them went to a liberal arts school and didn't get educated in anything in demand)

It's absolutely socialist BS and people should be accountable for their choices. People have been telling them to go to college to prepare for a career so they can make money and pay off their loans (if they took them out, instead of going to cheap schools and working part-time, earning scholarships, getting good internships, etc.) But many major in _____ "studies" and have a disgust for the corporate world and feel "too good" for manual labor.

Their preference for being highly paid with no skills or useful knowledge should not be paid for by those who have worked hard and found success. Utter crap.

agree it's bullshit, lazy fucks

[redsubdivisions]

First, we bail out banks. Now it's okay to go to school, borrow a bunch of money, and not pay it back? Fuck that. I don't get my generation, I really don't.

This just teaches the youth of our nation to be even more irresponsible and that if you sit around, things will eventually get handed to you. What a load of horseshit.

[Thizzelle]

I graduated with $25k in student loan debt and then I put it on the extended plan to lower my payment since I didn't have a job out of college. Except for a $10/hr temp gig.

My payment is $120/month. Maybe the kiddies should give up their iPhones and pay their damn debt.

this is also my situation but i did find a job in my career feild after i was a shofer driver for a week, so now debt is going down. Also went to junior college and did all my GE and a few classes for my major, all for free because of scholorship and living at home. people just need to make smart decicions. I met a guy the other day who went to MIT is 300k in debt works for a company that makes programs for apple. He just bought a brand new convertible Lexus, commutes everyday 1 hour to work and lives in a trailer park, WTF. Maybe he should be paying off his debt then buying a car with a $700 a month price tag

[e30e]

I paid my 700 bucks to sallie Mae this month. Where's my pat on the back?

[priapism]

I'm getting tempted to put absolutely everything on credit from here on out since paying it back just isn't necessary anymore

[Exodus_2pt0]

Please. The last several generations have been utter pussies - poor innocent "victims". They do nothing, accomplish nothing, they are good for nothing. They earn worthless degrees, preach a love and acceptance for every sort of societal decay and nihilism, they have no ambition, create nothing of value, they party and fuck around endlessly acting like children instead of keeping their future in mind and doing what is necessary as dictated by life.

Sounds like Aldous Huxley's "A Brave New World".... oh shit.

[lambo]

Fuck...why am I going to a school I can afford and getting a degree that should provide plenty of income to pay off any debts I might come across?

I hate being a smart person sometimes...