Govt has been lying about student loans...

HoustonHusky

http://www.zerohedge.com/news/2017-01-19/us-government-caught-massively-fabricating-student-loan-default-data

Amazing how this is just coming out...the numbers are staggering.

The new analysis shows that at more than 1,000 colleges and trade schools, or about a quarter of the total, at least half the students had defaulted or failed to pay down at least $1 on their debt within seven years.

doogie

Seruously? You're amazed?

dhdawg

and your solution is?

doogie

Modernize higher ed. Duh

dhdawg

doogie said:

Modernize higher ed. Duh

great answer. now what is your solution?

RaceBannon

Market forces. Cut off loans and make colleges price tuition accordingly

PurpleJ

RaceBannon said:

Market forces. Cut off loans and make colleges price tuition accordingly

Yeah but then they can't pay sociology nut job profs six figures to drone on about how white men are the cause of the world's problems.

greenblood

dhdawg said:

doogie said:

Modernize higher ed. Duh

great answer. now what is your solution?

Raise minimum wage to $15.00?

doogie

Khan Academy is on the right track. How's that for starters?

UWhuskytskeet

RaceBannon said:

Market forces. Cut off loans and make colleges price tuition accordingly

Because economic mobility is a bad thing.

RaceBannon

UWhuskytskeet said:

RaceBannon said:

Market forces. Cut off loans and make colleges price tuition accordingly

Because economic mobility is a bad thing.

What?

I'm talking about making college affordable. What are you talking about?

UWhuskytskeet

RaceBannon said:

UWhuskytskeet said:

RaceBannon said:

Market forces. Cut off loans and make colleges price tuition accordingly

Because economic mobility is a bad thing.

What?

I'm talking about making college affordable. What are you talking about?

Are those things mutually exclusive?

2001400ex

Has anything that zero hedge reported on actually been true? At least CNN is right on some shit.

doogie

Silly little child, whenever the data makes you uncomfortable, you lie.

You don't trust the United States Department of Education and/or Wall Street Bezos all of the sudden?

CuntWaffle

I say just let the government keep handing out whatever loans to anyone with a pulse. 100k a quarter at school will be special here soon.

RaceBannon

UWhuskytskeet said:

RaceBannon said:

UWhuskytskeet said:

RaceBannon said:

Market forces. Cut off loans and make colleges price tuition accordingly

Because economic mobility is a bad thing.

What?

I'm talking about making college affordable. What are you talking about?

Are those things mutually exclusive?

Spit it out. What are you trying to say?

UWhuskytskeet

RaceBannon said:

UWhuskytskeet said:

RaceBannon said:

UWhuskytskeet said:

RaceBannon said:

Market forces. Cut off loans and make colleges price tuition accordingly

Because economic mobility is a bad thing.

What?

I'm talking about making college affordable. What are you talking about?

Are those things mutually exclusive?

Spit it out. What are you trying to say?

College can be affordable and college loans can exist.

Kaepsknee

UWhuskytskeet said:

RaceBannon said:

UWhuskytskeet said:

RaceBannon said:

UWhuskytskeet said:

RaceBannon said:

Market forces. Cut off loans and make colleges price tuition accordingly

Because economic mobility is a bad thing.

What?

I'm talking about making college affordable. What are you talking about?

Are those things mutually exclusive?

Spit it out. What are you trying to say?

College can be affordable and college loans can exist.

Yes it can. Make everyone go to CC the first 2 years for their AA and then they can move on to University.

RaceBannon

UWhuskytskeet said:

RaceBannon said:

UWhuskytskeet said:

RaceBannon said:

UWhuskytskeet said:

RaceBannon said:

Market forces. Cut off loans and make colleges price tuition accordingly

Because economic mobility is a bad thing.

What?

I'm talking about making college affordable. What are you talking about?

Are those things mutually exclusive?

Spit it out. What are you trying to say?

College can be affordable and college loans can exist.

But the loans increase the cost. Colleges have yuge endowments and federal funding as it is. Giving kids loans they don't pay back, as in more government funding, increases what the college can charge for tuition.

College is a business like an oil company or coal mine. They live off this bullshit rep as somehow being a higher purpose. They charge what they do because they can.

If they had to react to a market that didn't have free money for tuition the cost would have to go down. Starting life after college with a yuge debt actually hinders upward mobility. Those grads should be buying cars and houses.

Give better low cost alternatives for trade and regular college and let the masters of the universe burn their money at Ivy schools.

While healthcare costs go up, uninsured procedures like lasik cost far less today than they did.

If you want more of something subsidize it. Want higher tuition? Subsidize it.

UWhuskytskeet

salemcoog said:

UWhuskytskeet said:

RaceBannon said:

UWhuskytskeet said:

RaceBannon said:

UWhuskytskeet said:

RaceBannon said:

Market forces. Cut off loans and make colleges price tuition accordingly

Because economic mobility is a bad thing.

What?

I'm talking about making college affordable. What are you talking about?

Are those things mutually exclusive?

Spit it out. What are you trying to say?

College can be affordable and college loans can exist.

Yes it can. Make everyone go to CC the first 2 years for their AA and then they can move on to University.

Could work unless universities have to raise their tuition to make for the 50% loss of revenue.

I think there are way too many under-qualified students at universities. I'd love to see Community Colleges fully funded and offer training in trade professions. More people would end up with a degree/certification in something they can use.

I really like the German model. In 9th grade you split off into two different schools. Either you will on to college prep until 13th grade (essentially earning your AA), or you go to a job training high school until 12th grade and learn whatever trade you decide on. Graduates either go to University or start an apprenticeship.

greenblood

UWhuskytskeet said:

salemcoog said:

UWhuskytskeet said:

RaceBannon said:

UWhuskytskeet said:

RaceBannon said:

UWhuskytskeet said:

RaceBannon said:

Market forces. Cut off loans and make colleges price tuition accordingly

Because economic mobility is a bad thing.

What?

I'm talking about making college affordable. What are you talking about?

Are those things mutually exclusive?

Spit it out. What are you trying to say?

College can be affordable and college loans can exist.

Yes it can. Make everyone go to CC the first 2 years for their AA and then they can move on to University.

Could work unless universities have to raise their tuition to make for the 50% loss of revenue.

I think there are way too many under-qualified students at universities. I'd love to see Community Colleges fully funded and offer training in trade professions. More people would end up with a degree/certification in something they can use.

I really like the German model. In 9th grade you split off into two different schools. Either you will on to college prep until 13th grade (essentially earning your AA), or you go to a job training high school until 12th grade and learn whatever trade you decide on. Graduates either go to University or start an apprenticeship.

Isn't that the American model, until Universities, the elites started demonizing trade schools? Not to mention all those skills being moved overseas?

RaceBannon

UWhuskytskeet said:

salemcoog said:

UWhuskytskeet said:

RaceBannon said:

UWhuskytskeet said:

RaceBannon said:

UWhuskytskeet said:

RaceBannon said:

Market forces. Cut off loans and make colleges price tuition accordingly

Because economic mobility is a bad thing.

What?

I'm talking about making college affordable. What are you talking about?

Are those things mutually exclusive?

Spit it out. What are you trying to say?

College can be affordable and college loans can exist.

Yes it can. Make everyone go to CC the first 2 years for their AA and then they can move on to University.

Could work unless universities have to raise their tuition to make for the 50% loss of revenue.

I think there are way too many under-qualified students at universities. I'd love to see Community Colleges fully funded and offer training in trade professions. More people would end up with a degree/certification in something they can use.

I really like the German model. In 9th grade you split off into two different schools. Either you will on to college prep until 13th grade (essentially earning your AA), or you go to a job training high school until 12th grade and learn whatever trade you decide on. Graduates either go to University or start an apprenticeship.

100% agree on the German model

Like I always say, you can't build a building in LA in India. But you can bring in illegals to suppress the wage

TurdBomber

Higher Education is now a Ponzi scheme.

UWhuskytskeet

greenblood said:

UWhuskytskeet said:

salemcoog said:

UWhuskytskeet said:

RaceBannon said:

UWhuskytskeet said:

RaceBannon said:

UWhuskytskeet said:

RaceBannon said:

Market forces. Cut off loans and make colleges price tuition accordingly

Because economic mobility is a bad thing.

What?

I'm talking about making college affordable. What are you talking about?

Are those things mutually exclusive?

Spit it out. What are you trying to say?

College can be affordable and college loans can exist.

Yes it can. Make everyone go to CC the first 2 years for their AA and then they can move on to University.

Could work unless universities have to raise their tuition to make for the 50% loss of revenue.

I think there are way too many under-qualified students at universities. I'd love to see Community Colleges fully funded and offer training in trade professions. More people would end up with a degree/certification in something they can use.

I really like the German model. In 9th grade you split off into two different schools. Either you will on to college prep until 13th grade (essentially earning your AA), or you go to a job training high school until 12th grade and learn whatever trade you decide on. Graduates either go to University or start an apprenticeship.

Isn't that the American model, until Universities, the elites started demonizing trade schools? Not to mention all those skills being moved overseas?

I don't know I wasn't around when school was affordable. Trade school definitely has a stigma though, in part because half of them are shitty for-profit medical training bullshit programs.

Last time I checked we don't outsource auto mechanics, electricians, plumbers, carpenters etc. Not only are those outsource proof, they are basically automation proof too.

Mosster47

I said this on here before. Shopping mall mortgage default is the next minor crisis and student loan default will be close to the housing market crash by 2018.

greenblood

Mosster47 said:

I said this on here before. Shopping mall mortgage default is the next minor crisis and student loan default will be close to the housing market crash by 2018.

Somewhat disagree. Malls are hurting themselves by charging tenants a percentage of their gross sales vs square footage. They need to realize they can't charge as much as they have been in a more and more digital society.

RaceBannon

Some of us are waiting on the commercial bubble to pop. And the housing bubble was never fixed, just pushed down the road. Round 2 is coming

Student loans are not as big an issue. Yes we have to write a big check but its not like losing homes or having abandoned strip malls with the financial losses for investors that go with it

And Green is right - we don't really need that commercial space anymore

whatshouldicareabout

Bring in more Chinese to subsidize the American students?

2001400ex

It's amazing how many replies there are on this thread without the mention of deferment vs default.

doogie

Deferrment, ah yes. That's where you tack the payments onto the balance and watch your obligation compound exponentially

2001400ex

doogie said:

Deferrment, ah yes. That's where you tack the payments onto the balance and watch your obligation compound exponentially

Actually no, the "payment" does not get tacked onto the balance. But nice dodge on my point.