College kids are using student loans for wild spring break trips

[Ron Burgundy]

Back in my day Spring Break was paid for by our tax refunds.
As far as is known, me, my bud, and three cheerleaders in the back seat hold the Geneva College (Beaver Falls, PA) to Ft. Lauderdale speed record of 18.5 hours in my hot-rodded Monte Carlo. Back in '82.

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[Stryker]

I don't understand this article. Student loans are used to fund all sorts of things. Food, walking around money, vacation. You have to pay it back. Saying 18% default is a bullshit stance, since education is the only debt you can NEVER shake. You can't get rid of it through bankruptcy. It is 100% guaranteed to the lender that they will get their money. And $0 taxpayer dollars fund student loans. Grants yes, loans no.

If a default happens, lenders couldn't give 2 *****. First they write off the loss as a tax deduction, then they go after the parents' assets who cosigned on the loan. Lenders aren't dumb. They don't let students get a loan without a cosigner. And that cosigner needs to have collateral (usually the family home).

This article shouldn't be about students taking advantage of the system, as much as it should be about the Students sticking their vacations to their parents when they default.

 

[Ron Burgundy]

I don't understand this article. Student loans are used to fund all sorts of things. Food, walking around money, vacation. You have to pay it back. Saying 18% default is a bullshit stance, since education is the only debt you can NEVER shake. You can't get rid of it through bankruptcy. It is 100% guaranteed to the lender that they will get their money. And $0 taxpayer dollars fund student loans. Grants yes, loans no.

If a default happens, lenders couldn't give 2 *****. First they write off the loss as a tax deduction, then they go after the parents' assets who cosigned on the loan. Lenders aren't dumb. They don't let students get a loan without a cosigner. And that cosigner needs to have collateral (usually the family home).

This article shouldn't be about students taking advantage of the system, as much as it should be about the Students sticking their vacations to their parents when they default.

I've taught part-time at different community colleges since 1993. As soon as I give the first exam and turn in grade reports I can count on half my class to evaporate. As soon as they get a grade to show they were there, they drop the class, get a partial refund, and spend the money.

 

[wig]

Kids are awesome!

And allow me not to interject the highly unpopular viewpoint that not everybody deserves a college education.

The simple truth is, kids from as far back as the early 80's grew up thinking that college was some kind of God-given right. We were "supposed" to go to college or join the military or go on to some great and meaningful purpose in life. Maybe we'd go to a trade school and learn to be electricians or plumbers or hair stylists. Or we'd go to full-fledged colleges, or to the military where we could get advanced training in as many as 150 career fields. But no matter what, we were going to be spec ******* tackular!

Well, the truth is, lots of kids really probably ought to just go work at Safeway, or McDonalds, or at the Mall. Not everyone OUGHT to go to college. In fact the majority of students who earn degrees don't actually go on to work in those fields. Now non-traditional students tend to work in the fields they go to school for. Because they've got their **** together. Somebody who's been working for 10 or 15 years in the workforce and has decided to invest in a college education to improve his or her earning potential tends to be pretty ******* goal-oriented. But kids have no ******* idea what they actually want to do and they end up getting a degree that either doesn't match their actual career interests or doesn't provide great job opportunities when they graduate.

So... the best answer for MANY young adults is to go out and get a ******* job. Earn some money and put yourself in a position to pay for your own education. The fewer students who are flooding colleges, by the way, will ultimately drive down the costs as colleges and universities will ultimately need to compete and thus drop their prices to entice more students to attend. Suppy and Demand.

Too many kids are too eager to get a stupid degree that they can't pay for and won't use and then they want someone to else to pay for it because, shockingly it didn't work out.

If only common sense had been applied BEFORE they'd gone to the ridiculously expensive school in the first place.