All the retarded dems are now screaming about FREE COLLEGE for everyone.
Well that is great, but nothing is free and we allowed the evil fucking bankers to enslave us all. The Dems just want to make our enslavement final.
A brief history of how the bankers and their puppets the politicians fucked us all.
Prior to 1976 student loans were dischargeable in bankruptcy without any constraints. Of course, if you look back at statistics from that time, there wasn’t much student loan debt to speak of. When the US Bankruptcy Code was enacted in 1978, the ability to discharge student loans was narrowed. Back then, in order to have your student loans discharged, you had to be in repayment for 5 years or prove that such a repayment would constitute an undue hardship. The rationale for narrowing the discharge was that it would damage the student loan system as student loan debtors flocked to bankruptcy to have their debt discharged. The facts, however, did not support this attack. By 1977 only .3% of student loans had been discharged in bankruptcy.9. Still, the walls continued to close on student loan debtors. Up until 1984, only private student loans made by a nonprofit institution of higher education were excepted from discharge.10. Next with the enactment of the Bankruptcy Amendments and Federal Judgeship Act of 1984, private loans from all nonprofit lenders were excepted from discharge. In 1990, the period of repayment before a discharge could be received was lengthened to 7 years.11. In 1991, the Emergency Unemployment Compensation Act of 1991 allowed the federal government to garnish up to 10% of disposable pay of defaulted borrowers.12. In 1993, the Higher Education Amendments of 1992 added income contingent repayment which required payments of 20% of discretionary income to be paid towards Direct Loans.13. After 25 years of repayment the remaining balance was forgiven. In 1996 the Debt Collection Improvement Act of 1996 allowed Social Security benefit payments to be offset to repay defaulted federal education loans.14. In 1998, the Higher Education Amendments of 1998 struck the provision allowing education loans to be discharged after 7 years in repayment.15. In 2001, the US Department of Education began offsetting up to 15% of social security disability and retirement benefits to repay defaulted federal education loans.
And since you can never get away from your student debt they loan you as much as you need. In turn all Colleges increase their tuition every year far beyond the value of the education the provide.
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19442503? ago
This makes the school a partner in your education with skin in the game. So they have to give you a solid education with job prospects upon graduation. No more turning out broke radical left socialist Dem wannabe’s with no prospects in life and an education you could have gotten from a Coles Notes bio of Karl Marx.
So your education has to be a win-win or the school loses the tuition you owed them.
19442861? ago
Nice!
19443026? ago
Thanks. People should never be penalized for using common sense - which was my post secondary institution.
http://university-of-common-sense.com/UCS_seal.jpg
19443416? ago
My wife's brother put his oldest through college and almost went bankrupt in the process. She came out with a useless degree which got her a job at a daycare. She's since quit that job to become a yoga instructor. She went into college very conservative and religious. She came out off college a raving lunatic leftist. Texas Tech was the crime scene.
19444160? ago
There are a million stories like yours unfortunately. I have been saying Trump cleaning up the MSM and then the problems in the post secondary education should be Priorities 1 & 2 of the new term. Unfortunately there is much to be resolved from this first term however.
There needs to be a serious study done on young adults coming out of colleges who are underemployed, Colleges teach theory and no practical thinking-on-your-feet work experience.
The only reason companies hire college graduates primarily is because they know they are seriously in debt and cannot afford to quit a job on a whim. Most are only one pay check away from going bankrupt in many cases. So what they save on Human Resources costs, they lose by having to teach college kids how to actually work in a business - a poor trade off.
I was very fortunate I am continually self taught and smart enough to it it to use very quickly.
I look at the entire situation like this. When you want to get a dog for your family, where do you go? Do you spend a lot of money on a dog from a breeder with a pedigree and papers that usually ends up having a bad disposition because the breeders are only in it for the money? Or do you go to the SPCA and give a dog a second chance who will love your family unconditionally and protect them to show its thanks? It’s an easy choice for me,