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skepticscott

(13,029 posts)

44. Who are the "victims" here?

Thu Oct 1, 2015, 05:13 PM

Oct 2015

Are student loans being made at ridiculously high rates of interest? No. Is it illegitimate to charge interest for loans at all? No.

Yes, there are "colleges" that run active scams in cahoots with lenders and deliberately deceive students about their job and income prospects, and they should be shut down and punished, but the majority of people with high student debt are not "victims" of that sort. The chose to go to legitimate colleges and chose to take on debt, but did so irresponsibly, without taking proper account of what would be involved in paying back what they were borrowing. People who say now "I didn't know what I was getting into" have a hard time evoking much sympathy from me. KNOW what you're getting into when it involves money or don't do it. Life 101.

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Students Across the Nation are Planning Something Unprecedented to End Student Debt Forever [View all] dixiegrrrrl Oct 2015 OP

K&R! marym625 Oct 2015 #1

+1000 smirkymonkey Oct 2015 #2

Bernie deserves a lot of credit for addressing this national issue loudly and libdem4life Oct 2015 #3

I am with you, kids. I wish I could actually be there. :D roguevalley Oct 2015 #24

Sounds like a good one to me.^^^ Eleanors38 Oct 2015 #4

I'd want to see their plans for paying for this mythology Oct 2015 #5

The money is there and more is available mountain grammy Oct 2015 #17

+100%! Enthusiast Oct 2015 #92

Cancel the F-35 gratuitous Oct 2015 #21

+ 1 trillion. (n/t) klook Oct 2015 #67

PDFS NJCher Oct 2015 #73

+1! Killing people for profit. Creating a new and never ending supply of enemies. Enthusiast Oct 2015 #94

+1 daleanime Oct 2015 #75

+100%! Enthusiast Oct 2015 #93

Here you go: Live and Learn Oct 2015 #71

^^^ This right fucking here! ^^^ MAKE WALL STREET FUCKING PAY FOR IT! They ChisolmTrailDem Oct 2015 #76

Bring the Pentagon home from 135 countries around the world. Octafish Oct 2015 #99

Getting Corporations off of welfare is a start d_legendary1 Oct 2015 #129

Educating our young is arguably the most important responsibility a society holds. Xithras Oct 2015 #135

Cancellation of all student debt. blue neen Oct 2015 #6

Sign me up! Beartracks Oct 2015 #8

right there with you handmade34 Oct 2015 #74

I was finally able to start repaying under the income-based plan... Beartracks Oct 2015 #84

All good and well angrychair Oct 2015 #10

OMG! Can't even conceive of how much your debt must be. Frightening. WillowTree Oct 2015 #18

Less than some angrychair Oct 2015 #48

Can you do Income-Based Repayment? Beartracks Oct 2015 #88

I appreciate the thought angrychair Oct 2015 #89

The taxpayer made the majority of student loans outstanding. Who's going to pay for it? Yo_Mama Oct 2015 #12

What does come to, 1 less war to pay for. That would be hard to handle. On one hand we can a war LiberalArkie Oct 2015 #20

and just how much of that debt is principle and how much is accrued interest? azurnoir Oct 2015 #25

I agree about the resentment. The bigger problem is the creditors. Jim Lane Oct 2015 #13

No problem at all angrychair Oct 2015 #87

You say it's not a problem from the point of view of the overall economy, but.... Jim Lane Oct 2015 #90

Except that's not how debts from a fractional reserve bank work Recursion Oct 2015 #91

I agree about the overall money supply but not about the individual bank Jim Lane Oct 2015 #103

Why are you subtracting the $8k from the $10k? Recursion Oct 2015 #104

I'm applying what I remember of double-entry bookkeeping. Jim Lane Oct 2015 #122

But fractional reserve is specifically not double-entry; that's the whole point. Recursion Oct 2015 #123

I don't see any inconsistency Jim Lane Oct 2015 #128

Looking back, I wrote that really badly. Recursion Oct 2015 #131

Cash makes this complicated, so imagine a fully-electronic loan origination Recursion Oct 2015 #137

I was thinking that cash made it simpler Jim Lane Oct 2015 #138

Actually the taxpayers lent virtually all the money, and it's borrowed money. Yo_Mama Oct 2015 #127

Any money that "flows thu the system" is grabbed by the 1% and never trickles down. dixiegrrrrl Oct 2015 #124

I paid my loans abelenkpe Oct 2015 #16

Ditto Dems2002 Oct 2015 #19

If it's an insane burden skepticscott Oct 2015 #29

Because it's a racket of a system Heddi Oct 2015 #59

It sounds like it was not an "insane" burden for you skepticscott Oct 2015 #66

Same here. Hissyspit Oct 2015 #108

I paid off my student debt -- I'm not resentful at all Heddi Oct 2015 #57

My husband and I are retired now. We live on a fixed income. blue neen Oct 2015 #64

what a reasonable human being (not snark) ish of the hammer Oct 2015 #68

... handmade34 Oct 2015 #81

Huge +1! You are an example to us all. Seriously. Enthusiast Oct 2015 #96

Message auto-removed Name removed Oct 2015 #72

I also handmade34 Oct 2015 #77

Message auto-removed Name removed Oct 2015 #80

Unfortunately they will just have to feel their resentment. Enthusiast Oct 2015 #95

That's a false obstacle Orrex Oct 2015 #100

That's no excuse for not doing it. Hissyspit Oct 2015 #105

HUGE K & R !!! - THANK YOU !!! WillyT Oct 2015 #7

Good luck, kids! 1monster Oct 2015 #9

I guess I should never have paid off mine then. leftofcool Oct 2015 #11

"I suffered so everyone else should as well!" AZ Progressive Oct 2015 #27

No, I am saying I pay my bills including my student loans and I am proud I did. leftofcool Oct 2015 #53

So let's see if we can guess your point. You paid off your debt therefore all students should have rhett o rick Oct 2015 #34

Your Republican imitation is teh awesome! nt bunnies Oct 2015 #42

Oh, for Christ sake's... Hissyspit Oct 2015 #109

At the risk of sounding SheilaT Oct 2015 #14

You're not being callous, you're being sensible. skepticscott Oct 2015 #30

It's always easy to blame the victims. Those people that use the payday loans should be rhett o rick Oct 2015 #35

Who are the "victims" here? skepticscott Oct 2015 #44

That isn't a very empathetic feeling. We as a society have some responsibility to help rhett o rick Oct 2015 #58

I'm sympathetic to people skepticscott Oct 2015 #116

Do you think payday loan companies should exist? I don't. At one time it was against rhett o rick Oct 2015 #133

Very black and white for a skeptic like yourself. Tafiti Oct 2015 #115

Does that make those people "victims"? skepticscott Oct 2015 #117

yes because it is soooo easy restorefreedom Oct 2015 #43

And your point is what? skepticscott Oct 2015 #46

my point is that once again, restorefreedom Oct 2015 #47

Is there any greed skepticscott Oct 2015 #52

there certainly are some restorefreedom Oct 2015 #63

Oh, please... Hissyspit Oct 2015 #106

That all you have? skepticscott Oct 2015 #120

Not all I have. Hissyspit Oct 2015 #121

Schools begin with the assumption that you will take on debt Blasphemer Oct 2015 #111

dear ignorant students- nothing is "free" - somebody has to pay for your "free" schooling nt msongs Oct 2015 #15

Doesn't sound like an empathetic Democrat. nm rhett o rick Oct 2015 #36

That's why you oppose this? A pedantic concern over the definition of "free" Taitertots Oct 2015 #40

How about we make college affordable? leftofcool Oct 2015 #54

Affordable for many college students is cheaper than a box of ramen Taitertots Oct 2015 #60

What, afraid the "undeserving masses" might achieve some parity? Scootaloo Oct 2015 #85

Funny angrychair Oct 2015 #49

Funny... Other countries have figured out how to do it. Hissyspit Oct 2015 #107

Student loans were never an issue when people could get good jobs to pay them off. jtuck004 Oct 2015 #22

They should vote against Clinton that would ship more jobs overseas. We need jobs for rhett o rick Oct 2015 #37

oh, the good old days Taitertots Oct 2015 #41

One of the biggest problems of student loans zalinda Oct 2015 #23

I borrowed less than $50k for grad school, I now owe over $135k. smirkymonkey Oct 2015 #33

I remember when the mob made loans like that, now the banks do. And I am disappointed that posters rhett o rick Oct 2015 #38

It is society's obligation to give adequate education to its citizens AZ Progressive Oct 2015 #26

Sorry, but you don't have to be a "genius" skepticscott Oct 2015 #32

Funny angrychair Oct 2015 #50

As I already pointed out skepticscott Oct 2015 #55

Actually htey want education to cease being ridiculously expensive Scootaloo Oct 2015 #86

No it isn't skepticscott Oct 2015 #98

An educated populace is a public good. We used to know that. Now we are eating our tblue37 Oct 2015 #69

... handmade34 Oct 2015 #78

Huge +1! Yes, we used to know that. Enthusiast Oct 2015 #97

That is just basic. JDPriestly Oct 2015 #28

#2 would save us 500 bucks a month. ileus Oct 2015 #31

Excellent! Dems to Win Oct 2015 #39

Higher education needs to be either free or low-cost. The bankers are already cash-bloated. Dont call me Shirley Oct 2015 #45

It is obvious to me that we need a new model upaloopa Oct 2015 #51

When I started college ryan_cats Oct 2015 #56

Culture is not worthless. N/T Utopian Leftist Oct 2015 #61

I agree which is why I chose the minor I did. ryan_cats Oct 2015 #82

When I started college, they had special programs to help women get an education. dixiegrrrrl Oct 2015 #62

Is an engineering degree now worthless? ryan_cats Oct 2015 #83

MIT is a private school. SheilaT Oct 2015 #112

If they cancel student debt my brother wants his money back also. nt Logical Oct 2015 #65

No one believes in the broken two party system. Baitball Blogger Oct 2015 #70

They also need a MAXIMUM wage for. College administrators tularetom Oct 2015 #79

Or millions for coaches progressoid Oct 2015 #114

To be fair, boosters usually wind up footing the bill hifiguy Oct 2015 #125

Better money spent than on wars and destruction. n/t RKP5637 Oct 2015 #101

Students at NYU were protesting recently... meaculpa2011 Oct 2015 #102

This just makes sense. U of M Dem Oct 2015 #110

This is one of the most egregious parts of the system Blasphemer Oct 2015 #118

I am hoping right along with you. U of M Dem Oct 2015 #132

I got my AA, my BA and my Master's in Social Work dixiegrrrrl Oct 2015 #126

I hear you! U of M Dem Oct 2015 #130

Sad to Say allinthegame Oct 2015 #113

This is great but do they realize that it damned cold in a lot jwirr Oct 2015 #119

funded by extra tax on Banking execs and Hedge fund managers - commutation tax Bill USA Oct 2015 #134

How would free tuition be paid MichMan Oct 2015 #136