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jficquette
Participant[quote=scaredycat] student loans. I’ve almost paid mine off after 15 painful years. but today, people are graduating med school, law school with 200-250k plus in loans. it’s tough to make a go of it for some. it could turn out to be a bad bet. what if tuition kept going up as everything deflated? What if people got out of school routinely with a million in debt? at some point, wouldn’t it just be rational to say fine, I’ll get the degree, society tells me i need it to get ahead, i know i’ll never be able to pay off the loan,I’ll default, then you can garnish my salary. there’s only so much they can take, 25% or so. if your monthly payment is $5,000 a month and you take home $5,000 a month, it’s not possible you can pay your loan. yeah, you took the debt on willingly, but doesn’t society have some obligation to have tuition vaguely match up with the economic value of the degree? or at least be forbidden from putting out any propaganda that the degree is worth something and is not a liability? should there be a disclaimer or warning on your tuition statement, something like “WARNING: this debt you are incurring is toxic. it is unlikely you will ever be able to pay it back based on current salaries.” Maybe this is where it’s all gone to. the debts become crazy, speculative, bear no relation to reality…and that makes people say what the heck, why not…[/quote]
What is interesting about student loans is that they did to the price of education what free money did to the price of housing.
Participant[quote=scaredycat] student loans. I’ve almost paid mine off after 15 painful years. but today, people are graduating med school, law school with 200-250k plus in loans. it’s tough to make a go of it for some. it could turn out to be a bad bet. what if tuition kept going up as everything deflated? What if people got out of school routinely with a million in debt? at some point, wouldn’t it just be rational to say fine, I’ll get the degree, society tells me i need it to get ahead, i know i’ll never be able to pay off the loan,I’ll default, then you can garnish my salary. there’s only so much they can take, 25% or so. if your monthly payment is $5,000 a month and you take home $5,000 a month, it’s not possible you can pay your loan. yeah, you took the debt on willingly, but doesn’t society have some obligation to have tuition vaguely match up with the economic value of the degree? or at least be forbidden from putting out any propaganda that the degree is worth something and is not a liability? should there be a disclaimer or warning on your tuition statement, something like “WARNING: this debt you are incurring is toxic. it is unlikely you will ever be able to pay it back based on current salaries.” Maybe this is where it’s all gone to. the debts become crazy, speculative, bear no relation to reality…and that makes people say what the heck, why not…[/quote]
What is interesting about student loans is that they did to the price of education what free money did to the price of housing.
Participant[quote=scaredycat] student loans. I’ve almost paid mine off after 15 painful years. but today, people are graduating med school, law school with 200-250k plus in loans. it’s tough to make a go of it for some. it could turn out to be a bad bet. what if tuition kept going up as everything deflated? What if people got out of school routinely with a million in debt? at some point, wouldn’t it just be rational to say fine, I’ll get the degree, society tells me i need it to get ahead, i know i’ll never be able to pay off the loan,I’ll default, then you can garnish my salary. there’s only so much they can take, 25% or so. if your monthly payment is $5,000 a month and you take home $5,000 a month, it’s not possible you can pay your loan. yeah, you took the debt on willingly, but doesn’t society have some obligation to have tuition vaguely match up with the economic value of the degree? or at least be forbidden from putting out any propaganda that the degree is worth something and is not a liability? should there be a disclaimer or warning on your tuition statement, something like “WARNING: this debt you are incurring is toxic. it is unlikely you will ever be able to pay it back based on current salaries.” Maybe this is where it’s all gone to. the debts become crazy, speculative, bear no relation to reality…and that makes people say what the heck, why not…[/quote]
What is interesting about student loans is that they did to the price of education what free money did to the price of housing.
Participant[quote=scaredycat] student loans. I’ve almost paid mine off after 15 painful years. but today, people are graduating med school, law school with 200-250k plus in loans. it’s tough to make a go of it for some. it could turn out to be a bad bet. what if tuition kept going up as everything deflated? What if people got out of school routinely with a million in debt? at some point, wouldn’t it just be rational to say fine, I’ll get the degree, society tells me i need it to get ahead, i know i’ll never be able to pay off the loan,I’ll default, then you can garnish my salary. there’s only so much they can take, 25% or so. if your monthly payment is $5,000 a month and you take home $5,000 a month, it’s not possible you can pay your loan. yeah, you took the debt on willingly, but doesn’t society have some obligation to have tuition vaguely match up with the economic value of the degree? or at least be forbidden from putting out any propaganda that the degree is worth something and is not a liability? should there be a disclaimer or warning on your tuition statement, something like “WARNING: this debt you are incurring is toxic. it is unlikely you will ever be able to pay it back based on current salaries.” Maybe this is where it’s all gone to. the debts become crazy, speculative, bear no relation to reality…and that makes people say what the heck, why not…[/quote]
What is interesting about student loans is that they did to the price of education what free money did to the price of housing.
October 12, 2008 at 6:55 PM in reply to: OT – Mayoral Address – Is Sanders going to call for Bankruptcy? #286513ParticipantGovernment employees shouldn’t get pensions. Let them buy into a 401k if they want to save. Why should they get anything private sector employees don’t generally get?
October 12, 2008 at 6:55 PM in reply to: OT – Mayoral Address – Is Sanders going to call for Bankruptcy? #286806ParticipantGovernment employees shouldn’t get pensions. Let them buy into a 401k if they want to save. Why should they get anything private sector employees don’t generally get?
October 12, 2008 at 6:55 PM in reply to: OT – Mayoral Address – Is Sanders going to call for Bankruptcy? #286824ParticipantGovernment employees shouldn’t get pensions. Let them buy into a 401k if they want to save. Why should they get anything private sector employees don’t generally get?
October 12, 2008 at 6:55 PM in reply to: OT – Mayoral Address – Is Sanders going to call for Bankruptcy? #286851ParticipantGovernment employees shouldn’t get pensions. Let them buy into a 401k if they want to save. Why should they get anything private sector employees don’t generally get?
October 12, 2008 at 6:55 PM in reply to: OT – Mayoral Address – Is Sanders going to call for Bankruptcy? #286855ParticipantGovernment employees shouldn’t get pensions. Let them buy into a 401k if they want to save. Why should they get anything private sector employees don’t generally get?
October 12, 2008 at 3:11 PM in reply to: Cramer predicts DOW 4700 by Tuesday (1995ish levels) #286408Participant[quote=SD Realtor]Hmmm… kind of hard to see that large a drop in two days when the automated stopgaps kick in at an 1100 point drop. Not sure if those will be changed but I think the variable drop is set to 1100 right now. Someone can correct me on that. [/quote]
Here are the rules:
http://www.nyse.com/press/circuit_breakers.html
Dow can drop 3350 in one day if the decline happens before 2 pm Eastern.
October 12, 2008 at 3:11 PM in reply to: Cramer predicts DOW 4700 by Tuesday (1995ish levels) #286702Participant[quote=SD Realtor]Hmmm… kind of hard to see that large a drop in two days when the automated stopgaps kick in at an 1100 point drop. Not sure if those will be changed but I think the variable drop is set to 1100 right now. Someone can correct me on that. [/quote]
Here are the rules:
http://www.nyse.com/press/circuit_breakers.html
Dow can drop 3350 in one day if the decline happens before 2 pm Eastern.
October 12, 2008 at 3:11 PM in reply to: Cramer predicts DOW 4700 by Tuesday (1995ish levels) #286719Participant[quote=SD Realtor]Hmmm… kind of hard to see that large a drop in two days when the automated stopgaps kick in at an 1100 point drop. Not sure if those will be changed but I think the variable drop is set to 1100 right now. Someone can correct me on that. [/quote]
Here are the rules:
http://www.nyse.com/press/circuit_breakers.html
Dow can drop 3350 in one day if the decline happens before 2 pm Eastern.
October 12, 2008 at 3:11 PM in reply to: Cramer predicts DOW 4700 by Tuesday (1995ish levels) #286747Participant[quote=SD Realtor]Hmmm… kind of hard to see that large a drop in two days when the automated stopgaps kick in at an 1100 point drop. Not sure if those will be changed but I think the variable drop is set to 1100 right now. Someone can correct me on that. [/quote]
Here are the rules:
http://www.nyse.com/press/circuit_breakers.html
Dow can drop 3350 in one day if the decline happens before 2 pm Eastern.
October 12, 2008 at 3:11 PM in reply to: Cramer predicts DOW 4700 by Tuesday (1995ish levels) #286750Participant[quote=SD Realtor]Hmmm… kind of hard to see that large a drop in two days when the automated stopgaps kick in at an 1100 point drop. Not sure if those will be changed but I think the variable drop is set to 1100 right now. Someone can correct me on that. [/quote]
Here are the rules:
http://www.nyse.com/press/circuit_breakers.html
Dow can drop 3350 in one day if the decline happens before 2 pm Eastern.
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