University administrators know that if a federal loan doesn't cover enough, a student can take out an additional private loan(s) if necessary. In other words, there isn't really a cap on how much a student can borrow, and the people in charge can just jack-up tuition, knowing that students will qualify for loans. It's similar to the housing bubble with respect to how over-leveraging can ultimately increase the burden of private debt. In the case of student loans, over-leveraging is more so forced through university and federal policy as opposed to "personal responsibility". Scholarships, grants, and two years of community college credits definitely help. I had a surplus of funds when I received my Bachelor's because of all of these things. Scholarships however, take a little bit of luck because of how competitive they are, and not every school offers an abundance of them.
I didn't start borrowing until I was in my Master's program. People who are in a worse situation than I was in probably have less of an incentive to go to graduate school because of how much they already owe. My guess is that one of the consequences related to this will be a workforce with less people suited for jobs that will require advanced knowledge in the future, such as data or computer science. Obviously, lower consumer spending is a consequence of any kind of private debt, but people in their lower 20's is a bad age group to hold a large fraction of outstanding debt because the housing market relies on young, first-time homeowners. Graduates today basically owe a mortgage before they can afford an actual mortgage. It's not about which generation they are from. It's primarily about the U.S. loan system and how it has evolved over time.
On House Hunters last night a couple of Asian doctors were buying their first house and wondered if they should buy for themselves or get a income property to pay off student roans.
On House Hunters last night a couple of Asian doctors were buying their first house and wondered if they should buy for themselves or get a income property to pay off student roans.
They got the house for themselves. CSB
House hunters is so real life. Lemme guess, they make $45k a year each and can afford a $3.2 million vacation home in Costa Rica.
On House Hunters last night a couple of Asian doctors were buying their first house and wondered if they should buy for themselves or get a income property to pay off student roans.
They got the house for themselves. CSB
House hunters is so real life. Lemme guess, they make $45k a year each and can afford a $3.2 million vacation home in Costa Rica.
On House Hunters last night a couple of Asian doctors were buying their first house and wondered if they should buy for themselves or get a income property to pay off student roans.
They got the house for themselves. CSB
House hunters is so real life. Lemme guess, they make $45k a year each and can afford a $3.2 million vacation home in Costa Rica.
Fuck off
House Hunters is must see TV
They should make a spin off about "easy" house hunting. So many of us have PTSD about overpaying for shitty little houses built during the Coolidge administration.
On House Hunters last night a couple of Asian doctors were buying their first house and wondered if they should buy for themselves or get a income property to pay off student roans.
They got the house for themselves. CSB
House hunters is so real life. Lemme guess, they make $45k a year each and can afford a $3.2 million vacation home in Costa Rica.
Fuck off
House Hunters is must see TV
They should make a spin off about "easy" house hunting. So many of us have PTSD about overpaying for shitty little houses built during the Coolidge administration.
They go around the country. As has been stated here before, if you live where no one wants to live you can get a 3500 sf pool house for 250K
In Seattle or other coastal areas you will get that "charming" 900 sf craftsman for 600K with lots of opportunity to "put your own stamp on it"
I prefer the million dollar listing shows to the poor people stuck in Kansas City
On House Hunters last night a couple of Asian doctors were buying their first house and wondered if they should buy for themselves or get a income property to pay off student roans.
They got the house for themselves. CSB
House hunters is so real life. Lemme guess, they make $45k a year each and can afford a $3.2 million vacation home in Costa Rica.
Fuck off
House Hunters is must see TV
They should make a spin off about "easy" house hunting. So many of us have PTSD about overpaying for shitty little houses built during the Coolidge administration.
They go around the country. As has been stated here before, if you live where no one wants to live you can get a 3500 sf pool house for 250K
In Seattle or other coastal areas you will get that "charming" 900 sf craftsman for 600K with lots of opportunity to "put your own stamp on it"
I prefer the million dollar listing shows to the poor people stuck in Kansas City
I actually *live* the million dollar listing shows IRL .
On House Hunters last night a couple of Asian doctors were buying their first house and wondered if they should buy for themselves or get a income property to pay off student roans.
They got the house for themselves. CSB
House hunters is so real life. Lemme guess, they make $45k a year each and can afford a $3.2 million vacation home in Costa Rica.
Fuck off
House Hunters is must see TV
They should make a spin off about "easy" house hunting. So many of us have PTSD about overpaying for shitty little houses built during the Coolidge administration.
They go around the country. As has been stated here before, if you live where no one wants to live you can get a 3500 sf pool house for 250K
In Seattle or other coastal areas you will get that "charming" 900 sf craftsman for 600K with lots of opportunity to "put your own stamp on it"
I prefer the million dollar listing shows to the poor people stuck in Kansas City
I actually *live* the million dollar listing shows IRL .
Anyone can walk through open houses on Sunday. Cool story bro.
On House Hunters last night a couple of Asian doctors were buying their first house and wondered if they should buy for themselves or get a income property to pay off student roans.
They got the house for themselves. CSB
House hunters is so real life. Lemme guess, they make $45k a year each and can afford a $3.2 million vacation home in Costa Rica.
Fuck off
House Hunters is must see TV
They should make a spin off about "easy" house hunting. So many of us have PTSD about overpaying for shitty little houses built during the Coolidge administration.
They go around the country. As has been stated here before, if you live where no one wants to live you can get a 3500 sf pool house for 250K
In Seattle or other coastal areas you will get that "charming" 900 sf craftsman for 600K with lots of opportunity to "put your own stamp on it"
I prefer the million dollar listing shows to the poor people stuck in Kansas City
Bring back the Pod. There was good hawt talk about getting nice real estate on the cheap in Temecula and the I.E.
On House Hunters last night a couple of Asian doctors were buying their first house and wondered if they should buy for themselves or get a income property to pay off student roans.
They got the house for themselves. CSB
House hunters is so real life. Lemme guess, they make $45k a year each and can afford a $3.2 million vacation home in Costa Rica.
Fuck off
House Hunters is must see TV
They should make a spin off about "easy" house hunting. So many of us have PTSD about overpaying for shitty little houses built during the Coolidge administration.
They go around the country. As has been stated here before, if you live where no one wants to live you can get a 3500 sf pool house for 250K
In Seattle or other coastal areas you will get that "charming" 900 sf craftsman for 600K with lots of opportunity to "put your own stamp on it"
I prefer the million dollar listing shows to the poor people stuck in Kansas City
Bring back the Pod. There was good hawt talk about getting nice real estate on the cheap in Temecula and the I.E.
Unfortunately the do gooders in Sacramento pulled the plug on most foreclosures for now.
Lets help people keep their homes. Sure why not just forget about the speculators and families looking for cheap homes
Oddly enough many of the folks who lost their house the first time also went into default the second time after the intervention.
There is a lot of undervalued housing stock hidden from the market to prop up the latest bubble we are in
On House Hunters last night a couple of Asian doctors were buying their first house and wondered if they should buy for themselves or get a income property to pay off student roans.
They got the house for themselves. CSB
House hunters is so real life. Lemme guess, they make $45k a year each and can afford a $3.2 million vacation home in Costa Rica.
Fuck off
House Hunters is must see TV
They should make a spin off about "easy" house hunting. So many of us have PTSD about overpaying for shitty little houses built during the Coolidge administration.
They go around the country. As has been stated here before, if you live where no one wants to live you can get a 3500 sf pool house for 250K
In Seattle or other coastal areas you will get that "charming" 900 sf craftsman for 600K with lots of opportunity to "put your own stamp on it"
I prefer the million dollar listing shows to the poor people stuck in Kansas City
I actually *live* the million dollar listing shows IRL .
On House Hunters last night a couple of Asian doctors were buying their first house and wondered if they should buy for themselves or get a income property to pay off student roans.
Going full circle, the article is suggesting if people are forced to spend their expendable-dollar on debt, they won't spend it in the economy - thus no economic growth.
It's not just spending expendable dollars on debt, it's spending expendable dollars on education instead of other consumer goods (or savings). I'm going to have to take {some large number, but my starting point is 50K/year} out of what I spend on fun shit and divert it to some college 5 years from now. College Administrator Welfare is not really the most efficient use of that money and it sure as fuck doesn't make me happy like hookers and blow do.
While I do agree the cost of college has escalated to a point of being fucktarded. (I paid $3,500 a year in the late 90s, good luck finding that now).
Most if the rest of your post is idiotic and something a poor uneducated person thinks. First, how the fuck is there a monopoly?
Then this is the unemployment rate, what group has the lowest unemployment? Is it the high school drop outs? Or the college educated folk? You can rail on liberal arts degrees but it looks like they have jobs.
Nobody is surprised that a) you don't understand basic, fundamental microeconomic concepts, and b) you're parroting the establishment line to keep people enslaved by debt.
#aclockworkshill
Ironic POTD. It's awesome watching someone ignore basic facts and tout the "liberal arts degree" rallying cry, then try to call someone else out for being a parrot.
What about personal responsibility? If you want to go to Gonzaga and pay $50k a year and are too stupid to find scholarships, then you should be riddled with debt your whole life.
Run along and let the grown-ups talk. You're in over your head, son.
When you present a grown up argument, I'll recognize that. Until then you are a right wing parrot.
On House Hunters last night a couple of Asian doctors were buying their first house and wondered if they should buy for themselves or get a income property to pay off student roans.
They got the house for themselves. CSB
House hunters is so real life. Lemme guess, they make $45k a year each and can afford a $3.2 million vacation home in Costa Rica.
Fuck off
House Hunters is must see TV
They should make a spin off about "easy" house hunting. So many of us have PTSD about overpaying for shitty little houses built during the Coolidge administration.
They go around the country. As has been stated here before, if you live where no one wants to live you can get a 3500 sf pool house for 250K
In Seattle or other coastal areas you will get that "charming" 900 sf craftsman for 600K with lots of opportunity to "put your own stamp on it"
I prefer the million dollar listing shows to the poor people stuck in Kansas City
Sadly, there's not a sliver of hyperbole in any of that.
On House Hunters last night a couple of Asian doctors were buying their first house and wondered if they should buy for themselves or get a income property to pay off student roans.
They got the house for themselves. CSB
House hunters is so real life. Lemme guess, they make $45k a year each and can afford a $3.2 million vacation home in Costa Rica.
Fuck off
House Hunters is must see TV
They should make a spin off about "easy" house hunting. So many of us have PTSD about overpaying for shitty little houses built during the Coolidge administration.
They go around the country. As has been stated here before, if you live where no one wants to live you can get a 3500 sf pool house for 250K
In Seattle or other coastal areas you will get that "charming" 900 sf craftsman for 600K with lots of opportunity to "put your own stamp on it"
I prefer the million dollar listing shows to the poor people stuck in Kansas City
Bring back the Pod. There was good hawt talk about getting nice real estate on the cheap in Temecula and the I.E.
Unfortunately the do gooders in Sacramento pulled the plug on most foreclosures for now.
Lets help people keep their homes. Sure why not just forget about the speculators and families looking for cheap homes
Oddly enough many of the folks who lost their house the first time also went into default the second time after the intervention.
There is a lot of undervalued housing stock hidden from the market to prop up the latest bubble we are in
This has been my platform for a long time: like higher ed and exotic travel, home ownership is not for everyone, and we fucked up when we perverted the American dream with the idea that everyone gets a home. Doesn't work that way.
Comments
I didn't start borrowing until I was in my Master's program. People who are in a worse situation than I was in probably have less of an incentive to go to graduate school because of how much they already owe. My guess is that one of the consequences related to this will be a workforce with less people suited for jobs that will require advanced knowledge in the future, such as data or computer science. Obviously, lower consumer spending is a consequence of any kind of private debt, but people in their lower 20's is a bad age group to hold a large fraction of outstanding debt because the housing market relies on young, first-time homeowners. Graduates today basically owe a mortgage before they can afford an actual mortgage. It's not about which generation they are from. It's primarily about the U.S. loan system and how it has evolved over time.
NOW FUCKING LEAVE!!!!!!!!!!!!
Almost all universities have massive endowments where the INTEREST would cover the cost of a student education.
Instead they blow that money on uneducated general contractors so we can smoke weed and talk shit like high school dropouts
They got the house for themselves. CSB
House Hunters is must see TV
In Seattle or other coastal areas you will get that "charming" 900 sf craftsman for 600K with lots of opportunity to "put your own stamp on it"
I prefer the million dollar listing shows to the poor people stuck in Kansas City
Lets help people keep their homes. Sure why not just forget about the speculators and families looking for cheap homes
Oddly enough many of the folks who lost their house the first time also went into default the second time after the intervention.
There is a lot of undervalued housing stock hidden from the market to prop up the latest bubble we are in
And if we're going to bag on blow, general contractors and weed, then I'm out!!!!!!!!!!!