Student Loan Bailout - Could Make Me Suicidal

Discussion in 'Suicidal Thoughts and Feelings' started by Righteous, Jan 28, 2009.

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  1. Righteous

    Righteous Well-Known Member

    This is proof that money and these bailouts are sick twisted games. Why come the U.S. government has not come up with the idea of bailing out people who fell victims 2 student loans?

    Barack Obama said it himself that a lot of people are in debt because lenders manipulated people into taking out a loan that was not realistically possible 2 pay back. However, I don't recall him referring this statement 2 student loan companies, he was referring 2 other lenders such as home mortgage lenders. By the way, there has been a idea of bailing out people with home mortgage debt, but I haven't heard of 1 home owner who has received a dollar from this bailout and I highly doubt that this home mortgage bailout will go through.

    High school graduates are deceived into taking out these student loans. Think about it, a lot of high school graduates have not even had a job and the ones who did probably worked for low wages at jobs such as McDonalds or Wal-Mart and now u got Sallie Mae and other lenders approving these student loans for thousands of dollars to high school graduates.

    The supposed purpose of these loans are for students 2 pay them back when they receive a job from their college degree. But lets get real, a college degree does not guarantee a job nor does it guarantee a high paying job with which u can comfortably pay back your student loans without your your money being hurt.

    This is one reason why I didn't vote because neither McCain or Obama didn't address real issues such as this which is something thats really hurting our country. College should be free to our citizens and funded by our tax dollars, seeing as how it is damn near necessary 2 get a good job. This bullshit gotta stop 1 day.

    As 4 me, u guys know from my other posts that I'm not suicidal at the moment, but that could change if these student loan predators decide 2 garnage my wages. Its not my fault that I can't find a high paying job 2 repay them. My job pays decent money but its certainly not enough 2 pay back my loans. Heck, I don't even have a house, I live in city parks, because thats the only way for me 2 build up some savings and keep my car in good shape. If I ever make a whole lot of money, I will pay them back. But as 4 now, I have no way 2 pay them back, unless I make payments 2 them and starve 2 death
  2. aoeu

    aoeu Well-Known Member

    Student loans are not predatory. They're opportunities to get an education. No one forces you to go to college, and if you decide to take 100k in student loans to get a history major, it's REALLY not the bank's fault if you can't pay it off.
  3. wastedmylife

    wastedmylife Well-Known Member

    only rich people and people who destroyed our economy are getting bailouts, the average person can go fuck themselves, you can thank the reagan administration who deregulated everything and now when their fuck ups are detoying the lives of the average american they are getting rewarded, people really need to pay for what they have done to this country, specifically people in the reagan and bush administrations
  4. ergo51

    ergo51 Well-Known Member

    I'm kinda with you r, even though I'm in the u.k., what really really grates me is that all the politicians who inflicted student loans on the u.k. had all the benefits of a free University education.


    That was a bit harsh I reckon aeou, the trouble with student loans is it has made Universities a business when they should be about education.
    Schools and colleges here in the u.k. now spend their efforts on teaching students how to pass exams rather than think and I think it stinks.

    Practical perhaps but what about expanding a students critical and evalueative faculties?

    The best way a society can civilise itsself (imo) is through education, loans restrict it.
  5. aoeu

    aoeu Well-Known Member

    Loans do not restrict it. High tuition costs restrict it. High tuition costs result from high costs to educate students - in Canada it's about 18k/student/year, but governments pay up to 3/4 of that. The only possible solution is government subsidies, but that's really not the American style.
  6. aoeu

    aoeu Well-Known Member

    I guess what I'm saying here is that university is not cheap, and bank loans make it possible to receive an education which might not be possible otherwise. They are NOT predatory in nature, but they are rather altruistic. But if you need a loan to pay for university, you HAVE TO MAKE IT COUNT. You MUST be practical. You MUST take a degree that pays. The United States has the lowest proportion of science degrees in the world. Science degrees are where the money goes, period. Student loans are vital to many, but if you take out too much of a loan that is YOUR fault, not anybody else's.

    I personally am in engineering in Canada. At the unsubsidized rate, it would cost me 80,000 CAD to pay for tuition and books for the full degree, and if I lived on a tight budget I could probably live for 50,000 CAD total. If I worked summers I could earn almost 10,000 CAD per year. So, total cost, not working during the school year, would be 90,000 CAD. That's a lot of money to get a loan for... but I'll have an engineering degree, which IS practical, and I can expect to be making 100,000 CAD/year 5 years after graduating.

    If I were in a political science degree [as my brother, for instance, is] I could expect to be making 35k/year 5 years after graduating, but my costs would be the same - and that loan is monumental now.

    So, with the same costs, same loans, offered by the same banks, at the same interest rate, one of us is screwed and the other is cruising along using his disposable income as he pleases.

    Make your education count. It's expensive.
  7. hammockmonkey

    hammockmonkey Well-Known Member

    It would be even more of economic catastrophe if the government bailed out individuals. Sorry buds, you took the loans you should know what you can pay back.

    I have no sympathy for people, I got about 10,000 dollars in loans (I go to a state school). Higher education is not a right, it's a privilege and there are programs out there for students with needs to get the money they need to succeed in college.

    Personally, I'm against ANY bailout, it's not in the spirit of laissez-faire economics (which is supposedly our economic structure).
  8. Righteous

    Righteous Well-Known Member

    Thats some really selfish crap 2 say. Higher education is a right 4 everyone because thats really what u need to get a high paying job. In other words, its what u need 4 survival. The government should consider the moral issue here. Everyone is not born with a silver spoon in their mouth and they should not be forced to take out a loan. If I show a homeless man how to fish, I do not expect him 2 catch a thousand fish 4 me. I'd rather do what is morally right(which is what God expects) and just show him how to fish so he can eat.
  9. Mayal

    Mayal Well-Known Member

    I might be in favour of subsidised higher education if it were on certain subjects, like science, maths, engineering, nursing and so on, degrees that would offer a path into repaying the costs of said education within society, but i do not agree that everyone is entitled to a higher education, and i do think there are a lot of people who take degrees for the status rather than any actual career prospects, hence the high number of media studies students and so on. After all, it is not the government who would be paying for this, it is the taxpayer.

    The forces provide the opportunity to study for degrees, funded by them in certain places and in return you have to sign up for an agreed period of time in order for them to get the value of your education, i think it would be an interesting prospect for multi-national corporations to consider doing the same in areas like business and economics.

    Although i can also see the down side to this, academia is a failing subject, and so are languages, art and design, because those areas are often limiting in their scope for easy ambition.

    But i know this, whilst the UK is one of the richest countries in the world, we have an education system that as pointed out earlier, is geared towards results rather than learning, high levels of illiteracy, and also pockets of poverty that would shock some developing countries. I know it is the same in the States, so whilst higher education should be a priority, it is not a neccesity.

    In my own opinion anyways.

  10. ergo51

    ergo51 Well-Known Member

    Higher education should be accessible for those who desire it.

    If an economically advanced society does not provide a decent education then there is something wrong.

    Education should be lifting people out of a poverty of thought first and the economic treadmill it is becoming is'nt doing that.

    Not every thing is about pounds, dollars, dimes or pence even though our popular cultures have done a very good job to convince us that it is.
  11. aoeu

    aoeu Well-Known Member

    long, that's a nice idea, but it's impractical. By my calculations, it costs upwards of 150k to put someone through a university degree in Canada. There MUST be a payout somewhere, and unfortunately, many arts degrees do not provide it.
  12. Righteous

    Righteous Well-Known Member

    Now u my friend are someone who has good knowledge.
  13. Righteous

    Righteous Well-Known Member

    Thats where u are wrong. True enough no one puts a gun 2 your head and forces u 2 go 2 college, but we are heavily manipulated. U see, a lot of people don't have a lot of opportunity with only a high school diploma. Its very hard 2 climb the career ladder working at McDonalds or Wal-Mart so people feel that they have to go to college because there isn't much else 2 do. Praises be 2 God that I am qualified to drive a bus and I make a decent living doing that.
    People need more opportunities to get a decent job without a degree. McDonalds and Wal-Mart is nowhere near decent.
  14. ergo51

    ergo51 Well-Known Member

    Hey R I got so wrapped up in the discussion about education I forgot to give a suggestion pertaining to your situation!.............

    Which would be self employment......

    Whenever I need an injection of cash I work for myself, I could go full time self employed and earn 'proper' money but it's not what I'm about (this isn't a good thing I guess). I can earn more in two 7 hour days with all the cigarette breaks I want than I can for a forty hour week when I do it.

    If an employer is going to pay you 2 dollars an hour they are going to want you to generate 20 an hour and you're going to have to work hard for that and they're not going to thank you, after all they're paying you.

    If you work very hard and earn 120 dollars an hour your employer is going to want you to generate 1200 an hour lets say, afterall why would he pay you that much? Is he going to say thankyou? I doubt it.

    I know a lawyer and he has to account, literally for every SIX MINUTES of his time throughout his working day, and I mean literally write down what he has been doing with every six minutes that generates an income for his employer.

    Get a skill, or a workable concept and work for yourself if it is money that you need and of course it is far more satisfying. Just my opinion.
    Last edited by a moderator: Jan 28, 2009
  15. aoeu

    aoeu Well-Known Member

    Are you kidding me? Trades pay better than almost ALL degreed positions. To acquire a trade, you spend AT MOST 8 months in a community college before entering an apprenticeship.

    Do NOT tell me that there's no money if you can't afford a 4-year university degree. There's lots.
  16. hammockmonkey

    hammockmonkey Well-Known Member

    There are already government sponsored programs that can help people afford college to go to college. I work and pay loans to go to college, I could have gone to a much more expensive school than I go to but I choose a state school because I knew about the economic advantages to it.

    I do have advantages over other students, I have family that can help me out (I am most certainly not alone here). However, even if I didn't there are still ways for me to afford my education, just as there are ways for ANYONE to afford their education. If you're too lazy to find out what scholarships or programs you can use to get your degree then you don't deserve it. It's crass yeah, but its true. The government's involvement in education should be, if anything, decreased.
  17. Esmeralda

    Esmeralda Well-Known Member

    What do you consider a "high-paying job", and why do you think this is a right everyone deserves? In the West, anyone with a high-school degree can make a living wage, maybe not a wage that allows you to buy a brand new car and live in a 200k home, but enough to buy a used car and pay the rent, which is a LOT more than can be said for many other places around the world. If you can afford college and end up getting one of those high-paying jobs, so much the better, but frankly, it's not something that the govewrnment is just going to hand to anyone, nor should they.
  18. Righteous

    Righteous Well-Known Member

    Maybe everyone shouldn't have a high-paying job but everyone should have a good paying job. But I do know that everyone should be able 2 buy a new car. Not necessarily a Mercedes Benz, but everyone should be able 2 afford a new Hyunadai or a new Kia. Everyone doesn't need a $200,000 home but everyone should be able 2 at least buy(not rent) a two bedroom home.

    Also, you're wrong about everyone being able 2 have a living wage. $7 an hour can't have u living comfortable. U won't even be able 2 pay rent or buy a decent used car with that money. U also want be able 2 have fun like u want to.

    The true definition of a living wage is a wage that allows u 2 take care of your basic survivial needs and have fun with your personal activities. And yes, fun is a need because the human soul needs pleasure. People shouldn't have 2 spend all of their money on bills.

    I don't see how u feel that the goveernment should not have 2 give us money for college, but yet you're ok with the government wasting money on unnecessary luxury items and spending billions of dollars in Iraq. Wake up man.
  19. Ed83

    Ed83 Member

    I totally agree. Very insightful comments.

    And it's getting worse quickly; I went to university in 2002-2005 and again in 2008, and even in that three year gap I noticed the difference between people being grade conscious but also wanting to learn, to everyone around me just being obsessed about what grade they got and never even discussing the actual material, but just how to get a grade. I found it nauseating but still managed to put up with it for a year to finish my degree.
  20. Esmeralda

    Esmeralda Well-Known Member

    Look, the Constitution only guarantees us the right to the PERSUIT of happiness, not to happiness itself.

    Also, you don't need a college degree to make more than 7 bucks an hour. A welder or a factory worker can make $30 an hour and garbage men make lots of money. Why should everyone be able to afford a brand new car? You can get a perfectly good used car for $5000 that will get you from A to B, and most people who are willing to work CAN afford a 2-bedroom house, maybe not on the beach in California, but somewhere.

    And fun and happiness are what you make of them. There are plenty of things that are free or very cheap that are very entertaining and replenishing for the human spirit.

    I don't see why it should be the government's responsibility to make sure people go to college and have great jobs and new cars and live shiny, happy lives. That's up to us. There is SO much opportunity in this country, MUCH more than almost anywhere else in the world.

    Personally, I think MOST of what the government does is a waste of money. I think all bailouts are bullshit.
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