If Student Loans Were Honest


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Dutchman
Dutchman

This might work:

#1. What is your major?
#2. Well, that job pays on the average of $Z a year.
#3. There are about X jobs a year in your field. eg: there were only 2 jobs for astronomers last year.
#4. The school you chose costs $Y a year.
#5. When we amortize your loan (say 15 years) we find you will not be able to repay.
-or-
#6. We find that this is a suitable choice and you can have the loan… but …
#7. We make the tuition payments directly to the school.
#8. You must maintain a B average.

kokoda - AZEK (Deck Boards) doesn't stand behind its product
kokoda - AZEK (Deck Boards) doesn't stand behind its product

Get Gov’t out of the student loan business and Gov’t not to guarantee loan payment.

TampaRed
TampaRed

agreed,koko-
if these debts were not guaranteed by govt and could be discharged in bk court the lenders would underwrite w/questions like dutch provided above–

hardscrabble farmer

Sounds like me explaining college to anyone who will listen.

TampaRed
TampaRed

My 17 yo daughter is slowly starting to come around to reality.
We are insisting that she take the basics at the community college,and she is currently dual enrolled as a hs senior and a freshman at the cc.
When finished at cc,she’s going to the local state university,not going out of town or out of state.
She goes to school and works with a girl she has known since elementary school.I’d estimate that her parents are in their early to mid 40’s.
A few weeks ago she told my wife in disbelief,”Susie’s parents are still paying on their student loans!”
Despite that,the girl is going to go to Penn State because it is a family tradition.

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