Student loan default

The only solution is the final solution.

Working at the side will not pay it.

working at the side means actually working thazs the problem for zoomers

>Getting a useless degree
>Choosing a profession that you know you're too stupid to succeed in
Why do people do this?

Student loan interest is high, complain. Student loan interest gets lowered but the terms get worse, complain. Student loan terms get better but interest rises, complain.

It is an endless cycle, isnt it?

Or the US lowers the military budget and makes education free.
Imagine a 21 trillion gdp ecomy where people struggle with healthcare and student debt.

Better to cut welfare. 2/3 of the budget is welfare.

Yes, that too, but cutting the 700 billion military budget with only 50 billion can create the best educational environment in the world.

>Sending more retarded children to university is a good thing
Why do we need more people with Feminist Dance Therapy degrees?

>boomer detected

You can't pay for student loans now. It is too high. Impossible with paying rent.

Not in the US, Aus but we still have retarded tuition fees. While at uni there was absolutely zero free time to go and pick up a side job. Working on any degree full time (which is how most of these people somehow build up stupidly high debts) means late nights and high stress. So many pointless compulsory units e.g. descrimination and gender studies.
The system is rigged. Yes these people are stupid for putting themselves in these situations but a lot of them get talked into it by career advisors etc at a young age with paperwork shoved into their faces to sign. University has become a debt racket and governments make a hefty profit from it. Nothing is about looking forward to the future anymore and having a skilled workforce. It's all about how to turn everyone into profitable little consumers.

yeah rite, who is dying fornisrael then?

A total reform of the educational system is needed, the gov should make an analysis together with the industry of what jobs are in high demand.
And students would get a guide of what field to chose to not end up with a meme degree.

I agree that military spending should be drastically reduced, but why spend it on something else equally useless?
Why not just reduce taxes, or pay off some of the national debt?

>More governmental control is needed
Yes, I'm sure the government can accurately predict future market demands. Muh gommunism has worked so well every other time, maybe just once more?

>why spend it on something else equally useless
The children are the future, if you don't educate them to be functional in industrial environment the US will soon end up as a third world country.

I said together with the industry, with this I meant that the industry will dictate their needs.

I owe $38K. I pay $1,000 a month and should be done in about 3 years.

>Why not just reduce taxes, or pay off some of the national debt?
because the usual profiteers wont profit from such unusual measures?

>More education is always a good thing
So you're happy with the current system, where checkout chicks have masters degrees in underwater basket weaving?

"The industry" has one method of identifying demand: price generation. This is basic economics, it's the exact same thing as the government working "with the industry" to decide what kind of crops to grow. It just doesn't work, because there's too much information for one person or one group to understand.

Itll probably be like 2008 again.
Everyone invested in financial instruments backed by student loans will face a credit crunch when the returns dry up. Then they'll desperately try to sell assets in order to stay solvent.
This will cause a short term crash in prices as everyone scrambles for dollars. But the fed will fire up the printing presses again in order to bail all the big boys out. This means the long term effects will be inflation.

I'm not sure how many more times they can successfully do that, tho. A huge number of gen-xers, millennials, and now zoomers are way too indebted to ever invest in securities or even buy a house. Sooner or later, as the wealth is increasingly concentrated in the 1%, they'll have to jump rails and move away from our current economic system.

If the dems can successfully ban guns, or otherwise neuter the citizenry then maybe all student loan holders become serfs?

Tl;dr
Idk but things are gonna get really interesting

Ignore how that loss of government spending will shrink the weapons market that provides jobs to educated people in the u.s.

I unironically believe people who graduated with useless degrees such as philosophy, theology, gender studies and other bullshit must do hard labor until their debts are paid off.

education gives jobs tonreachers and lots of janitors tho

could actually be that there is some cdo square of those loans being pushed around on some pension funds

No you shrink the Imperialism around the world and close some bases that drain the shit out of the system.

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No you can default but you cannot erase it by getting bankrupt. So your debt is just getting bigger, even if you don't pay.
Basically this is a slavery tool, there is no other developed country on earth that doesn't protect debtor by allowing them to go bankrupt. If you can't pay back your loan you're a slave for life.

>spend even more money on 'education'
Yeah, user
If we just throw a few hundred billion more down the gibs and 'dem programs' rathole I'm sure we'll solve all our problems
We're so close

Isn't that imperialism arguably necessary to keep the dollar relevant? Trust me, I'd love to see the disintegration of this monster but this poorfag isn't hedged against the dollar collapse yet.

You're right.

Lining these kids up for the firing squad before they’re even old enough to drink with that student loan contract is predatory and you fucking known it. I payed mine off but I like lucky cause my boomer parents where willing to help but this shit it criminal what every is doing to kids.

These kids got tricked into an 120k ponzu scheme because people promised jobs and the schools promised a life that they can’t deliver on. lol

The fucking boomers need to fix this shit that they started people on.

>not realizing that universities increase the tuition every time government financial aid increases

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The real crime here was allowing these dumb kids who don't even know why they're going to college to take out a loan in the first place. It's like the subprime mortage shit. They're just handing this shit out like candy without even checking the background or ability for their lendee's to pay back their debts.

Fucking fools and criminals all around. A horrid mix.

Why not force student loan debtees onto factory farms and force them to pay off their loan through hard labor?

debt bondage?
KEK
Let's fucking go back to 500 BC.

>what is selecting a degree that leads to higher employment and earnings?
>what is attending community college for core electives or at least staying in-state?
>what is living within your means and responsible budgeting?

With all that being said, yes, there are a lot of bad actors out there preying on high schoolers in order to prop up this system, not the least of which the universities themselves. Think about how many recruiters they send to schools and how hard they work to keep enrollment growing forever, which of course it can't. I'd bet that half the kids heading out to college this year have absolutely no business being there; they need to be in trade school, or just get a job or apprenticeship right out of high school, but they're falling for the college-is-the-only-way meme because that's what everyone else is doing.

also consider
>it's fun
>social status
>women go to find partners
>perfect excuse to delay adulthood

Also consider this.

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this is also a positive feedback loop , eventually it will break (soon), when most degrees are little more than high school certs

Because not everyone can be a chemical engineer that gets paid 100k a year dumbass. Guess what would happen if everyone jumped on the STEM train and there'd be no one left to be teachers, bureaucrats, paralegals, entrepreneurs, small business owners, EMTs, administrators, etc?

a) supply of STEM kids skyrocket and STEM wages plummet
b) everything goes to shit because no ones doing important shit apart from trying to make the next latest greatest polymer

Then high school grads will be like todays 9th grade dropouts
>continue cycle down

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Wtf are you talking about, you think working part time at starbucks will pay for university? Kys

This, and even the nutjobs refuse to address that. Probably because they'd have to admit they're ultimately complicit in murdering people for their unsustainable lifestyle, all while crying about how we need to give up our guns. I'm just ranting tho. I really wanted to mention how Europe doesn't charge for college - but they don't let just anybody go! You get chosen for a college track as young as 12 or 13 in some of those countries (to my understanding). We have nigs, so that will never happen here, because such a system would be deemed racist when blacks fall behind in selection. We got this system based on debt because we let just anyone go imo.

Debt IS modern slavery tho. Some people pay back their student loans until they're 60, so they are basically never working for themselves.
And now that student debt is not forgivable, millions more people will have to work for their creditor until they die.

STEM is meme degree and 90% of employers hire pajeets because they are cheaper

then who will die to protect Israel?

What about Israelis?

What's her dream, Jow Forums?

They weren't going to accomplish much anyway.

I haven't paid back my loans in almost 10 years. Guess what happened? Absolutely nothing. Got a good job in something unrelated to my degree. Universities have become degree Mills. They hire graduated students to make their employment rate look good to the feds or they lose their funding. The past students that are hired are helping students with loan paperwork and make 20k a year, basically working the same as working for $10 an hour.
>Inb4 muh STEM degrees
Kek. They outsource most of the work and hire pajeets

probably the most gross image hyde took to this date

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>the cattle don't slaughter the jews, the cattle suffers
>the cattle slaughter the jews
Win/win in my book.

nice try kgb, just bought 100k more nukes

> 2/3 of the budget is welfare

blatant lie, welfare isn't even 5% of the budget.

don't fool yourself. just about any form of government spending is welfare.

>take loan for useless degree
>can't find job with useless degree
>oohh noooo why am i poor
>min wage slave existance
>demand others to pay to your mistake
Worthless retards, at this point just send them to camps.

Demonstrably false.

WAHHH WAHHH I HAVE TO PAY BACK WHAT I BORROW AND BE ACCOUNTABLE FOR MY ACTIONS WAHHHHHH

Yeah, beurocratsics salaries are a kind of welfare. Cut 70% of the government, and give monetary control back to Congress. We would actually be able to say we follow the Constitution and end the deficit

>all roasties
kek

Student loan debt crisis is the most common outcome when government tries to "help." Schools get gurunteed money and end up malinvesting it in adminstration and amenities with no value add to the education....

Hmmmm, this should be reminding you of other things

Yeah but the poorer the general population (cattle) are the shittier the country becomes. The first part is really only good if you've isolated yourself from the world and live on a farm.

I have just a little bit left to go and should be paid in a couple years. But the anxiety still gets to me. What if there's another loan out there that I somehow don't know about? They would email/call/mail/contact me somehow right?

>what is selecting a degree that leads to higher employment and earnings?
>what is attending community college for core electives or at least staying in-state?
>what is living within your means and responsible budgeting?

They're things 90% of boomer parents didn't teach their kids. They expected them to pull themselves up by the bootstraps and walk up to the door of a fortune 500 company and give the CEO a firm handshake to land a 6 figure job straight out of college.

Bankruptcy exists because people won't lend without some protection in case they lose the ability to pay back their debts. The fact that student loans basically amount to indentured servitude that is backed and enforced by the IRS is over the line. And they lock most people into these things at 18, which is even more predatory.

Why are loans so easy to get? Surely people would complain if loans where harder to get that they can't go uni?

You must be joking if you think Bernie or any other candidate can wipe clean all the student loan debt. It's just not that easy.

The level of wealth and quality of life of a country is a direct consequence of IQ.
Of course i moved out of this subhumannising empire.

They are easy to get because they are backed (basically) by the IRS. If you don't pay eventually you'll wind up in the slammer.

No other loans have this, so those loans are actually much more difficult to get. 2008 changed things in a massive way, you basically cannot borrow if you don't have decent credit.

correct.
and if loans weren't available, and people couldn't go, this would drive the price back down

the same argument for availability of loans for houses
availability of funds drive pricing
the banks have realllllly fucked us

Can one of you posters comment on this please? I have this irrational anxious thought that there's a loan that I somehow forgot about. A lender would send you contact you right?

Isn't that because you can give a house or car back. But not an education? Even if you could tear the paper you still have the experience.
>and if loans weren't available, and people couldn't go, this would drive the price back down
So why are people so convinced to get loans? If they all stopped everything would go down or was it the propaganda of needing to go.

>What if there's another loan out there that I somehow don't know about
What do you mean?
Contact them yourself just in case. I cannot answer your question since I have never taken a loan.

>propaganda
this, they were told "tertiary education is the new high school certificate"

>Isn't that because you can give a house or car back. But not an education?
Not so much this. many types of unsecured loans can be wiped in bankruptcy

So why can't it be expunged (forgiven) and just tear up their degree?

If you put an entire trip to Europe on a credit card and never paid it back they couldn't repo that. Yet it's still very doable.

Then you would acknowledge that all these PhD's have a useless piece of paper.

because (((they))) need to enslave the youth of America and prevent them from creating their own wealth, thus leading them to be dependent on government (which they control) handouts

I mean I have these weird irrational thoughts that there's some loan accruing interest out there that I forgot about. I've always made my payments and I'm almost done but lately I've started wondering what if this sort of thing happens to people? Don't lenders reach out? Is there a way to go to one of the big credit bureaus and get a giant report of all your finances and loans?

basically this

>It's just not that easy.
Why not? All you have to do is cross out some numbers and print more paper. That's all you have to do.

It's interesting but it seems we have reached the point where even printing money won't solve anything.
In case of hyperinflation the prices will rocket while salaries will stay the same and only slowly adjust after the new economic situation.
However salaries will always rise significantly less than prices to maintain a profit margin. And real estate holders will even price in the future inflation.
This way zoomers will end up paying 500k tuition fee to get 50k job trying to buy 6mil.apartment..and screeching can start over

Because that way the banks don't have you as a debt slave for life!

The whole point of student loans is to keep the wagies in their cagies. It is very easy in this day and age to be NEET (though I think it's miserable) or expat, and if people start doing these things in appreciable numbers the American economy would crumble. So they lock you into crippling debt at a young age then bombard you with messages in media that it's impossible to make anything of yourself or learn something new after your mid-twenties.

The point being that whatever wagepath you chose while you were getting drunk five nights a week is the path you're stuck with because the debt never goes away and you are made very afraid of what would happen if you were to try go it alone without your wagemasters.

I don't think NEETdom is any better btw.

>Don't lenders reach out
>911
I don't know I haven't taken a loan out but call up everywhere you've taken a loan from be on top of it.

We never had this issue because people couldn't get loans for meme degrees.

If someone came to you for a loan to open a McDonalds you would consider it since you know they make money right?

If someone came to you for a loan to make an ice cream flavored as shit would you give them may money? No because you know you'd be unlikely to get your money back.

The USA started to pass laws saying lenders HAD to lend money to everyone (education for all) but they can't force lenders to lend money when they know they have. 90% chance to lose it so what did they do?

The IRS said they will pay the loans if they default, now the IRS has to collect the money and what happens if you don't pay? Well they made sure they can always collect it till death because at the end of the day they know most of these loans will default.

Moral of the story? The government tries to secure college for everyone and ends up commiting everyone to a life of debt and lowers the wages of college degrees because of there being a larger supply of graduates causing businesses to hire over seas.

It's really quite comical, by design government intervention always fails because it tries to force an opposite, an unnatural.. you can't bend reality, you can't make a deformed dog breed, itl create a race of retards.

Cosmic debt always catches up.

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What will happen if people can't ever pay off their debt and simply leave or refuse?

It sounds a little similar.
You're thinking of "discharge" which usually happens during bankruptcy.

"Default" is what happens when you don't pay your minimum payment.
In the context of student loans, they start pursuing you for payments + late-fees, then they will start wage garnishments.

Wage garnishment and if you don't work social security garnishment, it's already priced in my friend.

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That's partially false.
Student debt is forgivable under the following circumstances: loss of life, loss of limb, full and permanent disability, 10 years of qualifying payments while working for a government institute or non-profit, and meeting the criteria of forgiveness under an income based repayment plan.

Most people, if they are not retarded (even then, they'd qualify for forgiveness), will be student debt free in 25 years, tops.