Observor April 3, 2013 at 12:39 am
Nor any other type of loan. But the truth is that the lenders are the ones with the financial…Read More savvy, and consumers are conditioned to believe that if they qualify for credit the bank has determined that they will be able to pay it back. The problem with student loans is that they are given to people who could never otherwise qualify because the government guarantees them. Are those consumers naive or badly informed? Probably, but the statute books of the federal government and all fifty states are planted thick with laws to protect borrowers who lack sophistication.
The student loan bubble is no different than the housing bubble. Give people loans for which they are not really qualified so they can buy something they want and you flood the market with cash. In response, the prices of things people want to pay for with their loans (diplomas and houses) skyrocket, the sellers knowing that Uncle Sam will keep pumping more cash into the system. The housing bubble burst and when there are enough people unable to carry the non-dischargable debt they took on to pay $40,000/year tuition the student loan bubble will also burst.
Since we taxpayers will be picking up the pieces I am not willing to just say "nobody forced you" and leave it at that.
J. Smith April 2, 2013 at 09:17 pm
Two professional, hard working Taxpayers, perhaps if they continue to be employed, pay their taxes…Read More and stay off the dole, the Government will see they deserve a break. The Government does have high hopes for their projected revenue (taxes) in the future. “I don't make jokes. I just watch the government and report the facts.”
Steve April 2, 2013 at 08:55 pm
Maybe they should not have deferred and chose to overpay the outstanding debt on the student loans.…Read More Looks like they make a pretty good buck between them, maybe 150k a year. Tell them to look in a lower price range, maybe they need to work up to the dream home. I did, and so did a lot of the rest of us who paid off their student loans and didn't put it off.
Manchester Police Blotter: May 16 - May 18, 2013
The following arrests as reported by the Manchester Police Department are accurate as of May 18, 2013. Items on this list reflect charges filed, not… convictions.
Comment Recommend David Moran (Editor)