Well, I might have to support Bernie again this year
- Thread starter TheOriginalHappyGoat
- Start date
I was a swimmer, but I know you were a better one. I couldn't afford to do any of the summer swimming because I worked full time when I was old enough and didn't really know anything about it and couldn't have afforded it when I was younger. I also knew a swimming scholarship was very unlikely. However, I had long dark brown hair that was almost blonde during swim season. It wasn't a mullet - so I got that going for me, which is nice. Now I have no hair and I have been swimming again and being bald doesn't make me swim faster. It is nice to be the fastest swimmer at the Y every time I swim, but all the other swimmers are older - or kids.
I read a Wall Street Journal article about this awhile back. Lots of them are in business, and some of them IU wasn’t their first choice . While we do have a huge number from east coast, NY and Jersey, we also have a lot from California, Texas, Atlanta, Florida, ( hence my numerous girls from Parkland), Chicago, even Omaha, Nebraska. We only have 3 from Indiana. Greek life is part of it, but also it partly becomes a trend when several kids from one school decide to go, then their friends a year younger come to visit and decide to come. I love the diversity we have and girls meet people they never otherwise would have had the opportunity to get close with.
The common sense solution is to forgive all interest on loans but require the principal balance be repaid in full. I have family members sho graduated between 2000-2002 and their interest rate is a near comical 1%. Meanwhile mine is over 7% and I graduated only about 7 years later. The government should not be profiting on student loans. If I could write a one time check for the principal of what I owe and walk away scott free I would certainly do so. But about 40% of what I owe is pure interest. Bottom line is that they can get something from me or they can get nothing. Right now they are choosing to get nothing and it's going to be really bad for the taxpayers.
What kind of loan do you have that you can’t just write a check for the principal and be done?
Wow, so signing for a loan and agreeing to pay it back means nothing to you? What the hell, banks better quit making loans if this is the new attitude of society. Guess it’s part of the “free stuff” crowd.
I pay back all my loans except when I've been scammed. I paid back all of my undergrad loans as I got exactly what I was promised.
Do a Google search for "law school scam". Law schools have been cooking the books on their employment statistics for years. Had they not lied to me before I enrolled I never would've gone or I would've gone to a school like IU Indy or Valpo on a full ride. Thankfully the ABA has since tightened its disclosure requirements but that doesn't do me any good. And in regards to my law school loans I am paying back exactly what I am legally required to under a freely negotiated contract with the federal government. If you don't like the current rules then vote to change them.
https://abovethelaw.com/2016/03/the-fall-of-systemic-deception-at-law-schools/
Last edited:
I agree. It’s disgusting how some people use bankruptcy laws multiple times in order to run away from their commitments. I’m glad you and I both would never support a person like that.
I’ve never helped anyone manipulate bankruptcy laws. I despise it. The bankruptcy court in Evansville might be the worst.
Several years ago a bank of which I was a board member had an unbelievable experience. We had an operating loan with farmer. He was having difficulties. Therefore, checks for the sale of animals he was raising were jointly in his name and the bank. We had a check for six figures in our hands. He filed bankruptcy and the judge forced the bank to return the check to him instead of paying on his loan. In the end our bank never got the money back nor any of the loan paid.
This all being said bankruptcy is obviously necessary at times.
So you borrow money to invest in a business. The business fails and you feel you were scammed. You have no obligation to pay back the loan?
Yeah, everyone knows how hard it is for casinos to make money.
He's been accruing interest for 7+ years now. So his balance is much larger than the original principal.
Govt doesn't really profit as a whole....they may profit off the people who actually pay them off....but that just offsets the losses they have, since something like 25% of student loans go into default (or are going to be forgiven, in your case).
Really like this idea. I think it helps everyone out without giving away the farm. Seems like a middle of the road solution.
Govt already subsidized the loans in many cases.... which has driven the affordability problem in the 1st place...so the answer is to subsidize it even more?
Over 60% of people carrying student loan debt owe less than $50k. 36% owe less than $10k. All this policy is would be a huge gift to those with graduate level professional degrees, doctors, etc...(seems only ones supporting this are broke lawyers)
I think the Fed Govt should get out of the student loan business all together. If the govt is going to subsidize higher education than they should just do it directly to the institution.....likely via grant money to state legislatures so they can get back to adequately funding the state university systems.
The twisted ass way they tried to do this starting in the 70s is why it's a mess now...and the old guys reminiscing about how cheap their tuition was before the Federal govt got involved.
I wonder what has happened with ability scholarships, have they gone up from my days. When my kids graduated HS we saw the amounts people were winning and it was staggering. One won everything paid to Purdue for however many degrees they wanted. Those scholarships have to come from someone's dime. I have not seen an analysis comparing academic scholarships from 1980 to today, but based on what I see and what I remember, those scholarships may account for a lot of the costs we see today.
Colleges are graded on SAT and class rank, they aren't going to back away easily. And the other truth, most academic scholarships go to people who can mostly afford college.
In the early 70s, scholarships strictly based on scholarship were few and far between. Everything was need based. I got burned by that trend. I qualified for several, but my parents made too much money, so it was like finishing well in the race and getting a participation trophy.
Don’t much about Casinos except losing money every time I go to Vegas. When my son started at IU I quit going on golf trip to Vegas with buddies. Losses saved made nice debt in yearly cost. Lol.
Federal loan money is handed out with little scrutiny as to the students ability to pay it back, colleges have had free reign to raise prices at levels often double the inflation rate.
I found a story on the rise of merit aid. Here are some examples:
In another story:
The University of Miami, however, awards merit scholarships averaging more than $23,000 a year to almost a quarter of its freshmen, while Tulane promises an average of more than $20,500 annually to a third of its new students. The University of Southern California offers 100 full-tuition scholarships, more than 200 half-tuition scholarships and more than 250 awards equal to one-quarter of its tuition to freshmen each year. The University of Chicago, which often competes with the Ivies for students, gives scholarships that average $10,600 to 16 percent of its freshmen.
If Ford gave away free 1/4 of the cars it makes this year, how much more would we have to pay to buy a new Ford? Universities are graded by the GPA and SAT/ACT scores of their incoming class. So they responded to drive those numbers up by giving away college free to them.
In another story:
In 1995-96, private nonprofit and public four-year colleges were far likelier to give need-based grants than merit-based ones (by margins of 43 vs. 24 percent at private nonprofit colleges and 13 percent vs. 8 percent at public universities). In 2007-8, 18 percent of public university students received merit-based awards and 16 percent received need-based grants; at private colleges, 42 percent received merit aid and 44 percent received need-based assistance.
Well, I was writing with Marv as my target audience . . . if you'd been the target audience I'd have tried something else . . .I think the main thing lawyers learn is school is how to write so absolutely nobody knows what they said.
. . . or given up before I started . . . .
