The stupidity of student debt

The fast increase in loans to pay for higher education is a trend that is moving in the wrong direction. The idea that borrowing should play an important role in financing higher education, now standard thinking in the United States and the United Kingdom, is financially dangerous and economically wrongheaded.

Overall, American households are deleveraging. Most notably, U.S. mortgage debt outstanding has fallen to 51 percent from 71 percent of GDP since the end of 2008, according to survey data from the New York Federal Reserve. However, over the same period the ratio of student loans to GDP increased to 5.7 percent from 4.3 percent. The $1 trillion now outstanding is economically significant. In England, the ratio of student loans to GDP is only about half as high as in the United States, but the 80 percent increase over the last five years has been even faster.

Yeah I think student loans are the best and worst thing ever. I'm trying to pay off my loans now. I'm trying not to ever take out another loan the rest of my life.

Quote:Most notably, U.S. mortgage debt outstanding has fallen to 51 percent from 71 percent of GDP since the end of 2008, according to survey data from the New York Federal Reserve

what is the nature of this fall:  is it that people paid off their mortgages/paid down their mortgages and a happy situation exists for home owners....or ::confused:: is the drop mostly a result of foreclosures and a home owners have lost their homes and no more debt

a banker sells debt..that is the nature of his business.  his commodity is debt.  he must sell debt as much as he can or he will go out of business.  he will not miss any opportunity to increase the debt load of the people.  to do that would be to harm his business.

so if he manages to get a hold of the government for sure he will use such control to tie up any and all he can by law. 

so control of government insures that there are no socialist plans/policies effected to make education what it should be..free from primary to university...just like lil Barbados does.  no free education means debt for everyone beyond high school and the bankers are happy.

and also the nature of the education from primary supports capitalism over socialism..a banker design.

the free school system up to high school is also run on a max procurement basis that ensures ever increasing government debt at all levels..from city to state and province, to the nation :-[

is debt in the people wiyah.  debt fuh so!  all kinda debt!  debt in deh debt! 

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Say no more as I am living proof of student debt giving me a headache. I have no words to explain how irritating and stressful it is to have loans you must pay back. I feel other countries are more advance than America when it comes to people going to college. Why should you have to pay for a higher education? Yes, you are learning more and being prepare for the job market upon leaving college. At the same time I feel the cost is outrageously stupid. In a way, it sets young adults up for a life of debt.

[quote author=May102014 link=topic=91535.msg578214#msg578214 date=1406727528]
Say no more as I am living proof of student debt giving me a headache. I have no words to explain how irritating and stressful it is to have loans you must pay back. I feel other countries are more advance than America when it comes to people going to college. Why should you have to pay for a higher education? Yes, you are learning more and being prepare for the job market upon leaving college. At the same time I feel the cost is outrageously stupid. In a way, it sets young adults up for a life of debt.
[/quote]

Higher education in North America sets up quite nicely the next generation for a lifetime of servitude to the big banks.

Whappen to Parents saving up for their Children's college  ??

daaammnnn.....was I man too generous with Uni tuition fees ?

OR should I have saddled my daughters with student loans  :-\

[quote author=ketchim link=topic=91535.msg578242#msg578242 date=1406732251]
Whappen to Parents saving up for their Children's college  ??

daaammnnn.....was I man too generous with Uni tuition fees ?

OR should I have saddled my daughters with student loans  :-\


[/quote]

How can people with regular 9-5 jobs, with annual salaries of $50K a year, save up for tuition which are heading up to $10K a year here in Canada and $40K a year in the U.S.?  All the while paying off their mortgage, car loans, credit cards etc?

We have all become slaves to the big banks.

Quote:We have all become slaves to the big banks.

absolutely true.  and I am not sorry!  I dont care!  let dem, the people, suffer.  much worse is to come for all of us but I am ok and now I dont care at all.  I will care if the people smarten and move.  then I will join up to do my part whatever it runs out to be

anyway I set myself up.  I am ok and my children too.  there loans have all been paid paid off and they are doing fine.  they listened to me, followed my advice and action to assist.

the people must smarten up and move to correct the society now, while there is a chance to do so in the current systematic failure.  that's the answer!  somehow they have to realize and move.

but they do know and will not move..have not moved and show no inclination..or little inclination. 

I was a voice crying out, taking real chances, speaking out, pushing the 'truth'  as much of it as I could ascertain.  Is my nature to fight back, to focus on reality and react in my interest.  I though I was backward in that department that everyone was ahead of me.

I was stunned, stunned, stunned, stunned, stunned...when I realize how people are, especially the victims, the slaves.  who said they could have saved a lot more slaves if they actually knew they were slaves ::confused::

but modern people know they are slaves..cant help but know..but tell dem nuh!  tell dem and see if yu doh have to run duh yuh social lie..and soon enough your actual life.  deh hate you for bringing the truth to them.  they go rat to the bosses, the teachers, the police..anybody in authority about you... and you find yuhself in great trouble.  EVERYBODY AGAINST YOU!  EVERYBODY.

so yuh stunn...you get stunn!  yuh cyar believe..you thought that these people would love you for the truth and your strength and determination to stand up and fight for the interest of all of us.  you stunnnnnn!!!!! when you see black people like yuhself cutting you to ribbons with ole marse.  you cyar believe it. 

I admit accepting such is not easy at all.  it knocks you for loops.  it can take years to get hold of it, to deal with it.  and you can end up doing what you fought tooth and nail against hating your own, and the wider working class too inclusive of all working people of all colors and kinds.  they have become their own worst enemies..and the deadly enemies of those of a mind and nature to fight the system, to see positive social change in the interest of the majority, realising that ultimately society itself cant and wont survive without such change..for the people, by the people for human survival.

that is how serious and total the situation is.  that is what you come to know as a progressive minded person who eschews the general education, find the truth and teaches oneself such truth.

now I dont give a fcuk even though I post here as I do.  I can do that at least.  let the people prove themselves and their fitness for survival by getting up and changing society into the way it should flow.  that is their job as the majority for only the majority u\interest in domination will bring on stream all the truth that is necessary to set humanity up for survival

the minority interest cannot.  the minority interest has brought us here to the brink.  it cant pull back only topple over into the endless chasm.  only the peoples interest effected, can achieve that... pull back from the brink and set up a wall around the brink and build up life on safe ground.

but  the people, the majority, the 99%... have proved unfit for survival so far..fit only to be slaves. 

we have sold-out our collective interest, allowed all our leadership, great, middle and small to be killed-off, imprisoned, socially neutralized...allowed our enemy to take over the governments and pass all kinds of laws to shut us all down...to poisoned all the food and water..take them over and sell them to us at high prices even as they have poisoned then.

they create wars for profit and take our children in front of our faces to go fight them to die or become physically handicapped in body and mind, while providing little to no assistance for them after wards.  they sleep under bridges and die waiting for medical attention that is never authorized...

and with that we are only at the beginning.  now the diseases they have created in laboratories are being let loose on the people.  beautiful isnt it.  they surely have cures which they will keep for themselves while most of use die.

this is what the people paid for by their foolishness, utter and absolute jackassness and greed.  they ostracized the truth, let their leaders be killed, turned against their own.  fine.  bow its the peoples turn to pay for their uselessness unless they smarten immediately and move to kill the system and put in place a saving democracy run by them

excuse my tirade but I am seriously pissed at the situation > >

[size=14pt]this is what they do with our children and we let them do it and get away with it.  I taught my children never to join anything military..and if they are going to conscript then leave the country..go home to your fathers place[/size]

Quote:Diabetic ex soldier dies with £3.44 to his name because his unemployment benefits were cut for missing an appointment. Corner says there was no food in his stomach.

http://www.newsforage.com/2014/07/diabet...44-to.html