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Saturday Night Racer >> SNR LOUNGE >> Next bomb: College loan bubble?
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Message started by imracin68j on 09/09/11 at 8:46am

Title: Next bomb: College loan bubble?
Post by imracin68j on 09/09/11 at 8:46am

http://www.youtube.com/watch?v=VpZtX32sKVE&feature=pyv&ad=6739540474&kw=scam

This is a good video. I see some people come into my work with 80k student loans and I think... why?

Title: Re: Next bomb: College loan bubble?
Post by Kdawg on 09/09/11 at 9:35am

I'm with you 100% up to 3 minutes.

As of currently 11 minutes, I see the second attempt to redirect the blame for errant spenders. The lady said "All I wanted in life was an education".
Well if that's what she wanted, it sounds like she received it. Now she should pay for it.

I'm with you about the $$ amount of any education. The budgets are top heavy with how it's distributed.

16 minutes has a guy comparing dollar values between decades with no context ($1500 college debt when he was young vs $24000 today)

19 min-- my thought about the person making big bucks who has a degree does not make the big bucks because of that degree. (adapted from gpa's "successful business man vs state of economy" theory).

Title: Re: Next bomb: College loan bubble?
Post by FASTMIKE on 09/09/11 at 9:49am

billy..true story....i swear.

Phd (piled higher and deeper jmo) friend of mind told me he would be 213 years old when his were paid off due to the ability to negotiate the payment amount.......nice deal huh. that is why you see 24 year olds 80 k in debt.....

Title: Re: Next bomb: College loan bubble?
Post by FASTMIKE on 09/09/11 at 9:55am

wrote on 09/09/11 at 9:35am:

19 min-- my thought about the person making big bucks who has a degree does not make the big bucks because of that degree. (adapted from gpa's "successful business man vs state of economy" theory).

Kdawg , Calvin Coolidge put it perfectly:" the world is full of educated derelicts"

Title: Re: Next bomb: College loan bubble?
Post by Blasticus on 09/09/11 at 1:11pm

FASTMIKE wrote on 09/09/11 at 9:55am:

wrote on 09/09/11 at 9:35am:

19 min-- my thought about the person making big bucks who has a degree does not make the big bucks because of that degree. (adapted from gpa's "successful business man vs state of economy" theory).

Kdawg , Calvin Coolidge put it perfectly:" the world is full of educated derelicts"

Amen to that

Title: Re: Next bomb: College loan bubble?
Post by imracin68j on 09/09/11 at 1:46pm

Nicole is a bill collector for defaulted college loans and you'd be shocked at who isn't paying their bills. Doctors, lawyers, celebrities, you name it. A student loan can not be erased. It sticks with you until you pay it back. If you don't they will garnish your checks, ss, unemployment etc. My favorite is the person that keeps going back to college for the sport of it. Career college students.

Title: Re: Next bomb: College loan bubble?
Post by Dietzsch_Racing25 on 09/09/11 at 2:22pm

A high school buddy of mine racked up a debt of over $100k (in the mid 90s) getting his bachelors and masters in engineering. Now he is an engineering manager and makes 6 figures a years. Seems like a pretty good investment... at least in his case.

I on the other hand went the cheap route. I went to JC and stayed in CA (go gauchos) when I transfered to a four year school. I racked up $16k (a little more manageable). Best money I ever borrowed/spent.

That piece of paper doesn't make you smart but a lot of employers wont even talk to you if you don't have it.

CD

Title: Re: Next bomb: College loan bubble?
Post by FASTMIKE on 09/09/11 at 3:45pm

CD to me the "paper" you refered to is the equivalent to a "union card" of days gone by.....jmo

btw...the best money my wife spent too...they were fighting over her to hire her before graduation...

Title: Re: Next bomb: College loan bubble?
Post by Dietzsch_Racing25 on 09/12/11 at 9:30am

FASTMIKE wrote on 09/09/11 at 3:45pm:

CD to me the "paper" you refered to is the equivalent to a "union card" of days gone by.....jmo

btw...the best money my wife spent too...they were fighting over her to hire her before graduation...

I partially agree. The piece of paper will get you in the door but if you can't "deliver", from what I have seen, you're out like yesterday's trash.

Title: Re: Next bomb: College loan bubble?
Post by FASTMIKE on 09/12/11 at 10:55am

measurement by performance is just a fact of life...

Title: Re: Next bomb: College loan bubble?
Post by OLD SCHOOL#6 on 09/12/11 at 11:26am

These two get jobs by paper or performance ????

http://youtu.be/CDosM7-Srxo

Title: Re: Next bomb: College loan bubble?
Post by Dietzsch_Racing25 on 09/12/11 at 1:11pm

FASTMIKE wrote on 09/12/11 at 10:55am:

measurement by performance is just a fact of life...

not in a public union... It is more measurement by tenure/seniority.

Title: Re: Next bomb: College loan bubble?
Post by FASTMIKE on 09/13/11 at 6:42am

i never mentioned who was in charge of the measurement standard...