And here we have "Generation O" (or "Zero") in all their glory--college graduates and/or drop-outs who chose a college, applied for loans, and then decided that since the school really isn't any good, that they should not have to repay those loans.
Dozens of student loan recipients face default after refusing to pay back money
I'm sorry, but as someone who also owes tens of thousands of dollars in student loans, I'm not really sympathetic to this crowd. Sure, I'd like to toss the loans aside and never pay it back, but I also realize that it's real money that I borrowed, not from the school that I chose to go to, but from the government or other lenders. The deal was simple: I promised them that if they loaned me the money, I'd repay it with interest. It really didn't matter to the lender if I chose to pay for classes or just blow it all at a strip club--the deal was for a loan. Period.
Now these chumps are all upset because the "colleges" that they decided to blow their loan money on were some non-accredited scam business schools of the sort that usually advertises on late-night TV. And now that they've learned that other schools won't take the credits that they got and that actual employers consider those schools a joke, they've decided that they should not have to repay the loans, leaving you and me and every other taxpayer on the hook.
In my day, there was this thing called "responsibility", and it meant that when choosing a school, we chose wisely, typically by looking at school rankings, placement percentages, and the caliber of the instructors. Picking a "college" that operated out of an office building or had it's classes in a strip mall would have made no sense, but to these idiots, it seemed like the perfect choice. Why go to an actual university where you have to show up for class and do homework and stuff, when you can just go to one of these little offices and get a degree by doing coursework at home under no supervision and with no professorial interaction at all. A degree is a degree, right?
Well these folks are learning the consequences of trying to slide by on the cheap since the government finally closed those "schools" due to the egregious fraud that they represented. But every one of these "students" chose to enroll at those schools and had the opportunity to make other choices. I sympathize with them for the consequence of their bad choices, but how is it my obligation and yours to pay their loans back while they just skip off into the sunset?
Anyone?
The generation zero losers think the world owes them.
ReplyDeleteI have a news flash for them We owe you nothing.
Agree with you both 100%!
ReplyDeleteDamn straight. They asked for the loans, they signed on the line. Pay it back in full.
ReplyDeleteI hope you have had better luck with the Department of Education and FedLoan than we have. My wife took out a student loan to get her master's degree. I believe in hiring the handicapped but the DOE has gone way overboard. They have screwed up her loan beyond belief. It's taken two Senators and the Ombudsmen's office even to get to the point where we could start paying it. I could write volumes on the things these halfwits have done. I never would have believed I would have to spend so much time and effort on trying to straighten out a mess the government made. It's a modern miracle anyone can pay their loans to that collection of jackasses.
ReplyDeleteI am somewhat in agreement with you. Clearly in agreement with the idea of responsibility. However, I believe there should be a way out for people who honestly can't pay back their loan. Student loans should be able to be discharged through bankruptcy in my opinion. I realize there was a time when folks were taking out the student loans with the full intention of never paying them back and declaring bankruptcy on graduation. So, there should be some limitations, but a blanket ban I think is too much.
ReplyDeleteI wouldn't be averse to some method of relief for those truly in need, but to have these folks all claiming that they shouldn't have to pay because...well just because--is ridiculous.
DeleteThe problem is that the "Institutions of Higher Learning" charge whatever they want and no one screams. But the great unwashed will cry out about what they have to pay to pay off the loan they willingly took out to get this over priced education. When their degree does not get them a job, automatically, as promised by the school, they get pissed at their debt not their decision.
ReplyDelete