What are your thoughts on solving student loan debt?

[GH2001]

You must have many leather bound books and your office smells of mahogany.

I must have missed something here and I haven't kept up since I am no longer in school or really interested in going back, but when did college loan interest rates get so high? 

I got mine locked in at 2.25% and didn't have to make the first payment until six months after I graduated if I chose to do so.  They would send the school a check, the school would take out it's part for tuition and call me up to pick up what was left to pay for books, rent, food and miscellaneous expenses.   Of course this was 18 years ago so I am out of the loop.

I do believe it was RIGHT after our graduating class. The demand went up, the costs went up, the lending went up. They charged it because they: 1. were hedging their risk with the amount of loans to students (not exactly low risk) and 2. because they could

[AUTailgatingRules]

I do believe it was RIGHT after our graduating class. The demand went up, the costs went up, the lending went up. They charged it because they: 1. were hedging their risk with the amount of loans to students (not exactly low risk) and 2. because they could

The spike in interest rates directly correlates to the increase in Gov't involvement.  The gov't now guarantees student loans where it used to be the banks taking their own risks.

Since everyone is now entitled to "college loans" the rates must be higher to cover the defaults by those that had no business getting them in the first place

[Saniflush]

and watch All My Children) so I got out and went to work. 

Days of Our Lives, recognize.

[AUTiger1]

I do believe it was RIGHT after our graduating class. The demand went up, the costs went up, the lending went up. They charged it because they: 1. were hedging their risk with the amount of loans to students (not exactly low risk) and 2. because they could

We are around the same age and I haven't kept up.  I just went and took a look at a couple of places to see what their rates were.  Anywhere from 6 to 10 %.  Ouch!  Of course when you get a degree in Liberal Arts and the only job you can get is a librarian aid at the local public library, then I can see why they are hedging their risk.  High chance of default on $100k when that is the best job you can get.

I don't remember lenders setting up and asking people to sign up for loans, but I really tried to stay in my own little world for the most part.  I just wanted to go to class, go to my shitty part time job, study and then go out and have some fun if it could be afforded, if not, then it was Kentucky Gentlemen with DCP, cheapest food and several of us sitting around playing video games or hanging out.  Go to bed and catch a few hours of sleep only to get up and do it all over again the next day.   

I still wonder how one can live on Ramen, Banquet Pot Pies, Fox Delux Pizza's, Chef Boyardee, bourbon, coke, coffee and water for 4 years and not do permanent damage to your body?

[AUJarhead]

I still wonder how one can live on Ramen, Banquet Pot Pies, Fox Delux Pizza's, Chef Boyardee, bourbon, coke, coffee and water for 4 years and not do permanent damage to your body?

Because you have to mix in a couple 99cent Chicken Italians from Findleys.

[Kaos]

                                                                                   



Serious though...You actually admitted something was YOUR fault. That is a lost art now. No accountability by anyone anymore. Young people, old people, all races, classes - just everyone. Nothing is anyone's self admitted fault. Always someone else. That needs to change.

That was a big deal.  All My Children featured the Jenny/Greg, Tad/Liza/Dottie, Jesse/Angie storylines.  And that bastard Tony that killed Jenny.  And young Kim Delaney was Jenny. She was so hot.  Dottie was also super hot. 

Problem was it came on at 10 thanks to Birmingham bumping it up because they showed something else at the normal time it was on.  So I could make 8 a.m. classes theoretically.  But 9?  Wouldn't make it home in time for the start (no DVRs).  Ten was out of the question as was eleven because it wouldn't be over.  That left afternoons and there wasn't much I wanted there.  Plus softball games usually started at 5 or 6 and we had to be there by 4 to warm up. 

Won a lot of games, won several league titles and more tournaments than I can count.  Seemed important then.  Not so much now. 


Dottie and Tad commercial:


Greg and Jenny retrospective:

[Jumbo]

Days of Our Lives, recognize.

Word.

[CCTAU]

Word.

Hope and Jen. Addicted in college.