Here is the deal on all bad companies!

Really? Do you have any idea how many people never repay their student loans? The last thing we need is the government throwing away more money(deficit spending) on some program that we(the working taxpayers) will have to eventually repay.

 

I was a newbie once,and yes these big companies take advantage of newbies its sad but just put your time in and don't lease. That is a big scam with these companies shiny new truck in front of you gets most newbies but they end up regretting it.

 

While I agree with you on less government spending, how many people who defaulted on their student loans were placed in a position where they could not pay because the jobs and careers they went to school for disappeared due to "outsourcing" or the current economic situation? Or, from the other side, how many people would never have the opportunity for higher education (and thus better paying careers, or so they say) without student financial aid? Government-backed student loans are, for many lower income students, the only chance they have to go to college and improve their lives. Take away student loans and you might as well openly claim there will be no more upward social movement within American society and if you were born poor, you will die poor.

Yes, there are the few who do great things with their lives without higher education. I know successful business owners who didn't even finish high school. But they are not the norm. They are the very, very few. Most people who manage to move up the socio-economic ladder do so through higher education and gaining skills necessary to the economy of the time.

I may consider this a hot button issue, since I am a current college student. And I would not be able to afford my education without student loans backed by the government. Indeed, if my school raises tuition (as they are planning to in January), I will no longer be a college student because I cannot afford to pay the increased costs and the financial aid I recieve from the government is not enough even now to cover my tuition. Quite simply, my budget is stretched to the breaking point now, and adding an additional couple hundred dollars per month expense will be enough to completely break me. This will leave me to under-educated to gain a job with a "family sustaining" pay rate, doomed to spend the rest of my life working minimum wage positions. Or returning to the trucking industry, a field I left due to its becoming more and more abusive and lower paying with every year that passes.

 

Here's something new for you to consider.........

Student loans, backed by the Fed....will be repaid.

Even if you NEVER work a day in your life. It will simply be deducted from your future government hand out, called SSI. If you managed to work, without repaying it will come from your Social Security.

They are hammering the #### out of grand parents who signed on student loans.