2020 Jan 13, 8:08am
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This stinks to high heaven. Now that the irresponsible have used easy loans to run up the cost of collage for all of us, they get a free pass on the payback. There should be NO ability to discharge loans in bankruptcy, and a moratorium on government backed college loans.
Hmmm.... If I'm not mistaken, student loans were taken over by the federal government a decade ago. This just means the taxpayers will foot the bill. Seems like a bid to get "freed $100k college for everyone." Borrow the money from the government and then default the day after graduation. We already have free K-12 and know how well that usually works out.
If you are not pursuing a STEM major (and psychology and chiropractic are not STEM majors), the Return on Investment ROI for a college degree isn’t worth the time or money. Check out your local community college. Public community colleges are the best bargain in post secondary education in the U.S.
Yup, in California the community colleges are nearly free. Even there’s some sort of program to give you your first year free or something. Even if you pay, it’s like $1500/year which is cheaper than what I was paying for child care/month when all three of my kids were young. And you can transfer most of the credits to the cal state system when you’re ready to get that official degree.
The non-dischargability of student loans is a transparent attempt to trap millions of Americans in debt for decades each.
If this is a held to be a valid ruling, it is excellent news.
If this means that they will stop making student loans, then I'm all for it. Nobody is going to keep making these loans if they can be discharged in bankruptcy.
These are not government student loans but a private one that guy created via 'consolidation' (which turned the student loans into non-student loans, actually). They become private loans unbacked by anything just like credit card debt is. The creditor only kept the term 'student loan' around to try to keep this from happening.
zzyzzx saysIf this means that they will stop making student loans, then I'm all for it. Nobody is going to keep making these loans if they can be discharged in bankruptcy.CC loans can be discharged in bankruptcy but they are still making them.
His journey with student debt began in 1993, according to the lawsuit, when he took out student loans for his undergraduate degree. He kept up healthy financial habits, repaying his loans faithfully, until he served in the United States Navy on active duty for five years. After completing his tour of duty, he started law school at Cardozo in New York, for which he took out additional student loans. After he graduated in 2004, Rosenberg consolidated his loans and held a little more than $116,000 in student debt as of April 2005. That number ballooned to about $221,000 over the next 14 years. - Wow, who is responsible!!??He then passed the bar exam in New York and New Jersey and joined a law firm before deciding that a law career wasn’t for him.“First of all, I realized the whole job is sitting in the office by yourself,” Rosenberg said. “You can't be creative at all, but also that you either help people out or you make a good living — you can't do both. And I ki...
A lot of colleges will accept successful CLEP test scores on subjects unrelated to the major for graduation credit. The tests are a few bucks and take some hours to complete - but you can wipe out a year or more of classroom time, depending on the school's own rules.
I have a kid in college now. Even using in-State tuition college will cost $80k-$100k.
Must be great to be a Texas resident. Advertised in state "tuition" in VA is about $12k per year, but total college costs easily hit $20k per year.