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Additionally any college grad that: 1. Takes out six figures of loans for a degree in a field with no hope of commensurate income 2. Pays minimum payments bel

by pclowes 4mo ago

Additionally any college grad that: 1. Takes out six figures of loans for a degree in a field with no hope of commensurate income 2. Pays minimum payments below interest 3. Whines on social media that after X years of not even covering the interest payment they now owe more than ever Should: 1. Lose both their college and HS degrees. They clearly dont understand HS math. 2. Their college’s accreditation should be investigated 3. Same with their HS

KPGv2 4mo ago
So your solution for the system failing a person is to punish the person but reward the powerful people engaged in the bad behavior. The ones who brainwashed the kids into thinking that this is what they're supposed to do.
- pclowes 4mo ago
  No, the people giving degrees that say a person can do basic math when the person can’t do math should not be able to give out degrees anymore. Similarly, the person with the credential that says they can do basic math that cannot do basic math should not have the credential.
- b65e8bee43c2ed0 4mo ago
  [flagged]
  - deleted 4mo ago
    [deleted]
- anubistheta 4mo ago
  People have agency. The system didn't fail a person. That framing completely ignores their actions. Especially for paying so little on their loans and complaining about it. 18 year olds can vote. If we trust them with that, surely they can be responsible for their own choices. Moreover, they said the accreditation of both institutions should be investigated.
  - bmn__ 4mo ago
    Not so. The consideration should include the fact that when a child has been spawn camped by school, family and society at large to implant the idea that tertiary education is required to participate in society and without a degree one amounts to nothing, as is often the case, then it indeed is a failure of systematic nature and it would be not fair to put the blame on the now young adult's shoulders alone.
    - WildSense 4mo ago
      [flagged]
jbxntuehineoh 4mo ago
[flagged]
- pclowes 4mo ago
  Publicly funded colleges should not be able to loan 6 figures to people who don’t understand interest rates. I am happy to vote to take their funding away if they want to continue doing that.
  - throwaway2016a 4mo ago
    First, colleges don't generally give loans. The lenders are not affiliated with the college. Second, as with anything it is more complex than you are making it. For example, I've known people who have: - Had a variable interest go up with little to no notice and no adjustment to the payments so if you're not paying attention month to month you end up underpaying. - Been put in deferment without notice (so their payments stopped) and without requesting it, but continued to accumulate interest. - Interest is sometimes compounding while in deferment or paying less than interest. - Were mislead about how interest accumulated while they were still in school (i.e. lead to believe there was no interest when in reality there was just "no payments") And in that last one in particular, the person I know in that situation (happened to be married to her now), it was her boomer parents that signed the loan paperwork and they didn't even give her access until after she graduated when she found out interest compounding that whole time. I think the whole debate is putting too much on 17 kids and not enough on their parents who need to co-sign these documents. When I was that age the school didn't tell me how interest worked, my parents did.
    - pclowes 4mo ago
      I am not saying it is simple. And yes technically the lenders are separate but the incentives align them so the effect is the same as if they weren’t. As examples: - loans are given equally for an English major and an electrical engineer. No market force at play here. - Interest rates are the same as well even though the risk of default is not the same across majors - Your interest rate remains the same for subsequent years even if you get a 2.0 your first year. - College tuition rises in lockstep with additional Federal grants and loan programs Also, I am not saying there isn’t bad or unscrupulous behavior by lenders but the default case is poor money management and a faulty understanding of interest. I think this fault lies with the student, but also the government allowing its lenders and institutions to prey upon their youth as well as allowing high schools to graduate students without this basic understanding.
whatever120 4mo ago
You’re an obnoxious, pretentious prick

by pclowes 4mo ago

KPGv2 4mo ago

So your solution for the system failing a person is to punish the person but reward the powerful people engaged in the bad behavior. The ones who brainwashed the kids into thinking that this is what they're supposed to do.

pclowes 4mo ago
No, the people giving degrees that say a person can do basic math when the person can’t do math should not be able to give out degrees anymore. Similarly, the person with the credential that says they can do basic math that cannot do basic math should not have the credential.
b65e8bee43c2ed0 4mo ago
[flagged]
- deleted 4mo ago
  [deleted]
anubistheta 4mo ago
People have agency. The system didn't fail a person. That framing completely ignores their actions. Especially for paying so little on their loans and complaining about it. 18 year olds can vote. If we trust them with that, surely they can be responsible for their own choices. Moreover, they said the accreditation of both institutions should be investigated.
- bmn__ 4mo ago
  Not so. The consideration should include the fact that when a child has been spawn camped by school, family and society at large to implant the idea that tertiary education is required to participate in society and without a degree one amounts to nothing, as is often the case, then it indeed is a failure of systematic nature and it would be not fair to put the blame on the now young adult's shoulders alone.
  - WildSense 4mo ago
    [flagged]

jbxntuehineoh 4mo ago

[flagged]

pclowes 4mo ago
Publicly funded colleges should not be able to loan 6 figures to people who don’t understand interest rates. I am happy to vote to take their funding away if they want to continue doing that.
- throwaway2016a 4mo ago
  First, colleges don't generally give loans. The lenders are not affiliated with the college. Second, as with anything it is more complex than you are making it. For example, I've known people who have: - Had a variable interest go up with little to no notice and no adjustment to the payments so if you're not paying attention month to month you end up underpaying. - Been put in deferment without notice (so their payments stopped) and without requesting it, but continued to accumulate interest. - Interest is sometimes compounding while in deferment or paying less than interest. - Were mislead about how interest accumulated while they were still in school (i.e. lead to believe there was no interest when in reality there was just "no payments") And in that last one in particular, the person I know in that situation (happened to be married to her now), it was her boomer parents that signed the loan paperwork and they didn't even give her access until after she graduated when she found out interest compounding that whole time. I think the whole debate is putting too much on 17 kids and not enough on their parents who need to co-sign these documents. When I was that age the school didn't tell me how interest worked, my parents did.
  - pclowes 4mo ago
    I am not saying it is simple. And yes technically the lenders are separate but the incentives align them so the effect is the same as if they weren’t. As examples: - loans are given equally for an English major and an electrical engineer. No market force at play here. - Interest rates are the same as well even though the risk of default is not the same across majors - Your interest rate remains the same for subsequent years even if you get a 2.0 your first year. - College tuition rises in lockstep with additional Federal grants and loan programs Also, I am not saying there isn’t bad or unscrupulous behavior by lenders but the default case is poor money management and a faulty understanding of interest. I think this fault lies with the student, but also the government allowing its lenders and institutions to prey upon their youth as well as allowing high schools to graduate students without this basic understanding.

whatever120 4mo ago

You’re an obnoxious, pretentious prick