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Stupid question, if everyone does this do we expect that these loans will still be available? Maybe it was the "best Decision of (YOUR) Life" but every time th

by kator 13y ago

Stupid question, if everyone does this do we expect that these loans will still be available? Maybe it was the "best Decision of (YOUR) Life" but every time this happens it hurts these programs even more. Congratulations on a perfectly self-centered Millennial decision that was the best decision of your life that most likely made these programs one step closer to being discontinued. I guess I'm old fashioned, I've never signed something I've not read and I always honor my commitments to the best of my ability and with honor and respect for everyone involved.

bradleyjg 13y ago
The student loan system in the United States has all kinds of negative effects, including being partly responsible for two decades of out of control cost growth in higher education. If a high default rates pushes the government to go back to the drawing board, that's a good thing.
- kator 13y ago
  Don't vote by defaulting, vote by voting. To default on a loan after you signed it because you have some sort of agenda is not voting, it's just defaulting on a commitment.
  - bradleyjg 13y ago
    I'm not defaulting, nor am I even suggesting anyone else default. I'm countering your incorrect argument that undermining the US student loan programs is a negative consequenece of default. In any event, I don't share your simplistic views about the morality of doing so. Anglo-American law actually favors breaching contracts when it is efficient to do so. Also these particular contracts are made in a predatory fashion, they are contracts of adhesion between the most powerful entity on the planet (the US government) and naive 18 year olds. Try to worry a little less about your sacred honor and a little more about your fellow human beings. That's what's morality should be about.
deleted 13y ago
[deleted]
azcoder 13y ago
What people don't understand is that these programs shouldn't be available. These loans are made available/subsidized by the government when they wouldn't normally exist. They wouldn't exist because they don't make financial sense. No private entity would give millions of students tens of thousands of dollars or more to get mostly worthless degrees. The subsidies blow tuition prices further higher every year. They put students into horrible positions of massive debt and into the bad job market. The students were told by counselors and parents and government that taking out massive loans was alright, the government is paying for them. It's a huge mistake. Student loan defaults are at record numbers. Tuition at record prices. Hopefully these loans will NOT be available any more. It's not her fault for being unable to pay them back. She was tricked into accepting them. Now the taxpayer pays the bill. Then you have people like the current president of the United States trying to say that every person should have a degree. It's a disaster.
fnordfnordfnord 13y ago
Tragedy of the commons. A poorly designed scheme that may be at its breaking point. I do expect that as a country we will recognize the value of education (at least to the economy, if nothing else), and will find a way to educate young people. It may not always look like the current system, and IMO that's a good thing. >Congratulations on a perfectly self-centered Millennial decision Congratulations on your job! (and lack of empathy) Send yourself a nice greeting card "Congratulations kator, on your wise choice of [birthplace/parents/nationality/etc]." There are so many people who fail to realize the degree to which their personal success is dependent upon circumstances over which they had no control. >I guess I'm old fashioned, I've never signed something I've not read and I always honor my commitments to the best of my ability and with honor and respect for everyone involved. Is that because you're such a great guy, or because you've never experienced significant adversity?

by kator 13y ago

bradleyjg 13y ago

The student loan system in the United States has all kinds of negative effects, including being partly responsible for two decades of out of control cost growth in higher education. If a high default rates pushes the government to go back to the drawing board, that's a good thing.

kator 13y ago
Don't vote by defaulting, vote by voting. To default on a loan after you signed it because you have some sort of agenda is not voting, it's just defaulting on a commitment.
- bradleyjg 13y ago
  I'm not defaulting, nor am I even suggesting anyone else default. I'm countering your incorrect argument that undermining the US student loan programs is a negative consequenece of default. In any event, I don't share your simplistic views about the morality of doing so. Anglo-American law actually favors breaching contracts when it is efficient to do so. Also these particular contracts are made in a predatory fashion, they are contracts of adhesion between the most powerful entity on the planet (the US government) and naive 18 year olds. Try to worry a little less about your sacred honor and a little more about your fellow human beings. That's what's morality should be about.

deleted 13y ago

[deleted]

azcoder 13y ago

What people don't understand is that these programs shouldn't be available. These loans are made available/subsidized by the government when they wouldn't normally exist. They wouldn't exist because they don't make financial sense. No private entity would give millions of students tens of thousands of dollars or more to get mostly worthless degrees. The subsidies blow tuition prices further higher every year. They put students into horrible positions of massive debt and into the bad job market. The students were told by counselors and parents and government that taking out massive loans was alright, the government is paying for them. It's a huge mistake. Student loan defaults are at record numbers. Tuition at record prices. Hopefully these loans will NOT be available any more. It's not her fault for being unable to pay them back. She was tricked into accepting them. Now the taxpayer pays the bill. Then you have people like the current president of the United States trying to say that every person should have a degree. It's a disaster.

fnordfnordfnord 13y ago

Tragedy of the commons. A poorly designed scheme that may be at its breaking point. I do expect that as a country we will recognize the value of education (at least to the economy, if nothing else), and will find a way to educate young people. It may not always look like the current system, and IMO that's a good thing. >Congratulations on a perfectly self-centered Millennial decision Congratulations on your job! (and lack of empathy) Send yourself a nice greeting card "Congratulations kator, on your wise choice of [birthplace/parents/nationality/etc]." There are so many people who fail to realize the degree to which their personal success is dependent upon circumstances over which they had no control. >I guess I'm old fashioned, I've never signed something I've not read and I always honor my commitments to the best of my ability and with honor and respect for everyone involved. Is that because you're such a great guy, or because you've never experienced significant adversity?