Effect of Student Debt on the Economy Stupid
Comments
-
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.
-
Good post.
NOW FUCKING LEAVE!!!!!!!!!!!! -
Why the fuck would I aim anything at you?creepycoug said:
If that is aimed at me, I don't recall saying "many", but they are out there. I have two kids attending two separate such places.RaceBannon said:People forget that many universities have endowments that would allow free tuition without the feds paying for it or the student going into debt
Of course, we're full pay, so what do I know?
You all sound poor.
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 -
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.RaceBannon said: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 -
Fuck off2001400ex said:
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.RaceBannon said: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 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.RaceBannon said:
Fuck off2001400ex said:
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.RaceBannon said: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 must see TV -
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 250KYellowSnow said:
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.RaceBannon said:
Fuck off2001400ex said:
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.RaceBannon said: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 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 -
I actually *live* the million dollar listing shows IRL .RaceBannon said:
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 250KYellowSnow said:
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.RaceBannon said:
Fuck off2001400ex said:
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.RaceBannon said: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 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 -
Anyone can walk through open houses on Sunday. Cool story bro.pawz said:
I actually *live* the million dollar listing shows IRL .RaceBannon said:
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 250KYellowSnow said:
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.RaceBannon said:
Fuck off2001400ex said:
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.RaceBannon said: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 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
![[Deleted User]](https://wa.vanillicon.com/a33ddd61ac822b7b5e92667d0a5fabc1_100.png)
