http://www.zerohedge.com/news/2013-0...r-own-students
Yay for vendor financing
Printable View
http://www.zerohedge.com/news/2013-0...r-own-students
Yay for vendor financing
and the bubble goes POP. Looks like predatory lending to me, combined with price gouging. ;)
Cool. :cool: This is what I've been trying to say since the subject became popular around here. No sane lender would lend the kind of money required for college "education" nowadays without collateral. All the irresponsible lenders should eat their losses and learn their lesson, IMHO.
Yep, they need to learn the concept of risk. Risk will help them make better decisions in the future.Quote:
Originally Posted by heavenlyboy34
What, you don't like the concept of debtors prison? lol, that thread kinda gets to me.Quote:
Originally Posted by heavenlyboy34
Lets hope it doesn't spill over into this one.Quote:
Originally Posted by The Goat
:pQuote:
Originally Posted by The Goat
No, but I like the concept of stupid, corrupt lenders going bankrupt. ;)Quote:
Originally Posted by The Goat
Quote:
the so-called Perkins loans (for students with extraordinary financial hardships) have seen defaults surging more than 20%.
People who don't know how to make money without a degree aren't making money 5 years later after graduation with a degree?
You don't say?!?!
This is so true. I have encountered dozens of job openings for minimum wage jobs in the past year from word of mouth or from seeing the inside of different industries. During this time I've also found several that pay $10-12 an hour. They all have their own drawbacks (one or more of long hours, manual labor oriented, or working outside]) but these places are always hiring. And I have seen several where you have the opportunity to make lots of money if you are a sales superstar. These places are always hiring as well, but they take a lot of focused effort and long hours to make the higher-end earnings so you see a high turnover rate which allows them to always be hiring.Quote:
While financially hard-up graduates complain of no jobs, the schools are not impressed: "You could take a job at Subway or wherever to pay the bills ... It seems like basic responsibility to me,"
There are so many jobs out there. There's even a bunch where you can self-employ with just a few hundred bucks. Don't have the money? Work at one of those minimum wage jobs for just one pay check, and you're in. This, too, is going to require a lot of dedicated work to get started and research and trial and error to make sure you're in the right place.
But I understand the position some of these people are in. If they can just mooch off their parents, friends, family, and the government while they wait until a miracle happens and they land their dream job without job experience, well, then that doesn't actually sound too bad until you look at the past 30 years of your life and you realize you haven't done anything productive and that you're just another scrub.
This is not true. (at least, not in my area) For every job, whatever type, there are at least 2-3 applying for it. Even old-fashioned summer jobs like grocery store stuff doesn't exist anymore. (I've applied at grocery stores and other menial jobs, with no success) I have a CCL in computer graphic design and all I got out of it was a secretary job for ~2 weeks (my boss' business went sour and had to lay me off, even though she didn't want to. She's in Texas now) The unemployment office here has a program that's supposed to connect people to jobs, but it didn't work for me. I've sent out a bazillion resumes-even to places barely related to my edumaction. I have to compete with boomers and laid off folks with many years of experience that I don't have. It's just not rational to expect someone to find a job easily in this environment. I'm just barely squeaking by nowadays.Quote:
Originally Posted by MRK
I'm sure there are plenty of lazy gen-xers, y-ers and millenials out there who aren't even trying. (like my lazy-ass mooch sister) But they don't represent the majority at all.