Quote:
Originally posted by KSigkid
I'll admit, my first reflex wasn't positive, as it was largely because of student loans that I was able to afford college.
Honestly though, after reading the article and reading Rudey's post, it doesn't seem like we're talking about the end of the world here as far as help for college. It would be great to have more grants and more alternatives when looking for ways to pay for school.
If these loan companies are just taking advantage of the situation, why not search for alternatives. As was said, it's not like the government is going to leave all of these students and prospective students with no way to go to college.
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Although I agree with most of your post and thanks Rudey for an explanation of what is going on, I don't know you guys...
Something's fishy...
The big corporate banking clan is fleecing Academia that is meant to help many a student to enter a college somewhere, somehow...
But, I see percentages of young people with bad credit and huge credit debt after undergraduate college that only a DiTech loan may be able to squeeze them out of 10 years from now with a higher percentage rate and some kid's first born...
I know there are NUMEROUS WAYS to finance college... But you as well as I know that most young people don't have the fiscal intelligence of a mortgage actuarial scientist to work out how this financing will occur... Otherwise, why do chickadees strip at the local strip club for college? I know, that's bogus, but hey, that's what kids think they have to do for the name of "free education"... Or at least an education to enable them to pursue a higher paying job... If that...
I myself was fortunate not to have to take out ANY loans... They ALL seems fishy to me... Yeah, I had credit card debt that was in the thousands with a poor interest rate, but there was no defaulting on minimum payments and the thought of renegotiating never was taught to me...
Later in life, I have found some more loophole for financing... But, that in and of itself is risky...
Also, Rudey, you post is still a "columnist" in the Washington Post... That makes it an opinion... How well will facts be checked with her assertions?
But I do agree with you, the Dept. of Ed. does need to be fiscally overhauled... But that would just kill No Child Left Behind and Headstart programs...