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Thread: Ben Bernanke Says That His Son Will Graduate With $400,000 Of Student Loan Debt

  1. #1

    Default Ben Bernanke Says That His Son Will Graduate With $400,000 Of Student Loan Debt

    Answer to the first sentence of the article.......Me.

    http://www.latimes.com/business/mone...,3862067.story

    Edit: here's the original link from a different article that didn't show up
    http://www.yolohub.com/economy/ben-b...dent-loan-debt
    Last edited by The Northbreather; 03-24-2012 at 11:13 PM. Reason: source added



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  3. #2

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    Is there an article link here that I can't see?
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  4. #3

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    So in addition to being a terrible choice for FED Chairman Bernake is also a terrible father?

    I mean who in his position wouldn't pay for their children's college education?

    Or do bankers simply eat their own young?
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  5. #4

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    Wtf? Did he borrow his way through a top undergrad and law school?

    EDIT: Actually, Med School
    Bernanke, in his exchange with lawmakers, added a personal dimension to the student loan issue, saying that his son in medical school was expecting to owe $400,000 when he graduates.
    Last edited by MRoCkEd; 03-24-2012 at 07:22 PM.

  6. #5

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    GUYS IT'S OK. HE CAN GET MONEY FROM THE FED TO PAY HIS DEBT.

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    If that is true , that is messed up and I do not feel sorry for those two , at all!

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    That's because that he knows that's how you get ahead in a keynsean system. Cheap Credit is King.

  9. #8

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    Debt isn't always bad. I have a buddy who is neuroseurgeon resident and when he is done he expects to make 850K/year. He'll have 500K or so in debt when he's done but in that situation it is worth it.

    The people who go to University of Phoenix and graduate with 100K debt are far worse off than the medical school kid (with a rich ass father) who are 400K in debt.

    You can actually do something with a medical degree.
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  10. #9

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    Bernanke knows that he will be able to pay that off in a decade for less than the cost of car. He probably recommended it to his son.

  11. #10

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    isn't that petty change for him to bail out?

  12. #11

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    Quote Originally Posted by BlackTerrel View Post
    Debt isn't always bad. I have a buddy who is neuroseurgeon resident and when he is done he expects to make 850K/year. He'll have 500K or so in debt when he's done but in that situation it is worth it.

    The people who go to University of Phoenix and graduate with 100K debt are far worse off than the medical school kid (with a rich ass father) who are 400K in debt.

    You can actually do something with a medical degree.
    That's a lot of coin, but I guess it's what you'd expect from a career that requires 14 years of study, residency, and what not. Everyone else you know in college leaves at 22 - you're done a decade later.

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    One word: propaganda.

    The Bernank probably has billions in XYZ accounts in XYZ countries all over the world.

  14. #13

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    Thanks to the person who fixed the link

  15. #14

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    No problem. Student loan bail-out and forgiveness on the horizon. Who the hell will bitch about it. Students AND parents are gonna think the government is giving them a freebie.
    Something, something, something...Whatever my rage for the day.

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    Quote Originally Posted by BlackTerrel View Post
    Debt isn't always bad. I have a buddy who is neuroseurgeon resident and when he is done he expects to make 850K/year. He'll have 500K or so in debt when he's done but in that situation it is worth it.

    The people who go to University of Phoenix and graduate with 100K debt are far worse off than the medical school kid (with a rich ass father) who are 400K in debt.

    You can actually do something with a medical degree.
    I do not guess that a degree at University of Pheonix would cost more than a few thousand , and you could probably pay as you go if you have a job ?

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    I checked their site. A BA in Business will cost you about 60K

  18. #17

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    Who cares to be honest. Ben Bernanke should not have had any kids, he should be rotting in jail.

  19. #18

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    Quote Originally Posted by UMULAS View Post
    GUYS IT'S OK. HE CAN GET MONEY FROM THE FED TO PAY HIS DEBT.
    Eh, his old man will just inflate it away for him.
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  20. #19

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    Quote Originally Posted by oyarde View Post
    I do not guess that a degree at University of Pheonix would cost more than a few thousand , and you could probably pay as you go if you have a job ?
    University of Phoenix is insanely expensive.
    .[QUOTE]"Every great new thought was opposed. Every great new invention was denounced. The first motor was considered foolish. The airplane was considered impossible. The power loom was considered vicious. Anesthesia was considered sinful. But the men of unborrowed vision went ahead. They fought, they suffered and they paid. But they won." - Ayn Rand, The Fountainhead[/QUOTE]
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    Quote Originally Posted by tbone717 View Post
    I checked their site. A BA in Business will cost you about 60K
    That sounds high , what else do they have ? I was kind of hoping to buy myself a law degree or PHD when I retire ( make the envelopes look better on my Foundation ) I paid 38K for my first house .$900 for my first car ( one owner , 82,000 miles ) . I never paid for any school , my employers paid for it. I did get to see the prices though.

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    Quote Originally Posted by angelatc View Post
    University of Phoenix is insanely expensive.
    Why so much ?? where I am from , most people just used IUPUI .
    Last edited by oyarde; 03-25-2012 at 12:44 PM.

  23. #22

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    at least his kid appears to be helping society by becoming a medical professional rather than destroying it by becoming a central banker
    most kids of his intelligence choose the finance route over medical school nowdays because of the insane bonuses available , he could easily have walked into a cushy job at the fed if he wanted to

  24. #23

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    Ben knows he'll be paying it back with increasingly worthless dollars. Maybe Ben knows hyperinflation is on the way.
    Last edited by anaconda; 03-25-2012 at 04:06 AM.

  25. #24

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    Quote Originally Posted by oyarde View Post
    I do not guess that a degree at University of Pheonix would cost more than a few thousand , and you could probably pay as you go if you have a job ?
    It's expensive as fuck and will have basically ZERO benefit to getting you a job later.

    You could go to Stanford or Harvard and get $200K in debt and you would be able to more than make up for it over your life. If this was an option for me I would do it in a heartbeat. University of Phoenix will cost you over $50K (a lot less) but most people will not make that up. The degree will not make them $50K more valuable going forward.

    There are 1,000 colleges in the country - most are somewhere in the range between Harvard and Phoenix.
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    Don't worrry, daddy will inflate him out of it. At 10 percent inflation, how many years untill his real debt load is halved?

  27. #26

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    Quote Originally Posted by awake View Post
    Don't worrry, daddy will inflate him out of it. At 10 percent inflation, how many years is untill his real debt load is halved?
    Inflation today and for the last few decades has been about 3% on average. Are you saying you think inflation will reach 10% a year in the near future?
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    Quote Originally Posted by Kregisen View Post
    Inflation today and for the last few decades has been about 3% on average. Are you saying you think inflation will reach 10% a year in the near future?
    In some sectors it already is. See healthcare, oil, and food prices.


  29. #28

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    University of Phoenix is a for-profit school. They are very expensive as I have worked for one of their "sister" programs. All you essentially get is Pell(if you qualify) and loans. When government subsidizes education, the price goes through the roof!

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    Quote Originally Posted by Kregisen View Post
    Inflation today and for the last few decades has been about 3% on average. Are you saying you think inflation will reach 10% a year in the near future?
    Yeah , or more , on anything that matters....

  31. #30

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    Quote Originally Posted by Jordan View Post
    That's a lot of coin, but I guess it's what you'd expect from a career that requires 14 years of study, residency, and what not. Everyone else you know in college leaves at 22 - you're done a decade later.
    yes, nice racket
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