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Wednesday, April 22, 2009
11:12 AM TweetThis
  • Perhaps unsurprisingly, student loan defaults are skyrocketing as rising tuition costs clash with a weak job market.
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This news story has 24 comments:

  •  
    There seems to be two economies out there right now...oil and gas inventories up big...UPS shipping down big...exports down...employmnet down..tax revenues down big.....but banks are up????????? Geithner says AOK... I smell something fishy....anyone else
    Apr 22 11:23 AM | Link | Reply
  •  
    Maybe you were reprimanded for going to a school you couldn't afford...


    On Apr 22 11:26 AM joshuaodonnell wrote:

    > I have over 100K of student load debt. Defaulted atleast a year
    > ago on all of it. Dont really care. There's no jobs. The economy
    > is fucked. And we have a govt. that I feel reprimands students for
    > going to school. The president along with all of his clowns are
    > screwing this country over for the next 30 years...probably longer.
    > All they have done so far is increase the debt. over a trillion
    > dollars. The fact is that the bankers are still making billions
    > of dollars while everybody stands in bread lines, begging for jobs.
    > This country is so fucked beyond belief.
    Apr 22 11:29 AM | Link | Reply
  •  
    like millions of other people?
    Apr 22 11:33 AM | Link | Reply
  •  
    Or maybe you need to learn some responsibility. How are you any better than the gov't right now? They are putting us into deeper debt, but you aren't taking responsibility for your actions. It's easy to quit and walk away. Maybe that's why you don't have a job? Why didn't you work during school to help pay for the loans? The only person I see to blame is you. You're like millions of others who get themselves into debt and take the easy way out - walking away.
    Apr 22 11:39 AM | Link | Reply
  •  
    P.S. Student loans aren't forgivable. You can't walk away or file BK. Just be aware that they may be turned over to the Dept. of Revenue in whatever state you live in. Be prepared for your wages (when/if you get a job) to be garnished. Once the IRS or Dept. of Revenue come in, they have free reign on you and your wages. Best of luck. I'd try to negotiate now rather than later.
    Apr 22 11:42 AM | Link | Reply
  •  
    hey at least whoever holds the loan is carrying it at 90% on the balance sheet...HA
    Apr 22 11:46 AM | Link | Reply
  •  
    yeah, fuck em all. If you were all smart, youd all move out of this god-forsaken country, cause were all fucked. Not only do you have a bunch of massive debt, you'll be paying more and more taxes back to the govt. to pay for all the CEO's salaries and executive golden parachutes... WELCOME TO SOCIALSIM FOLKS.
    Apr 22 11:49 AM | Link | Reply
  •  
    I am curious what you studied in College and where you went..and what degree you ended up with
    Apr 22 11:57 AM | Link | Reply
  •  
    The govt. holds the loan! Just like they own everything else..the banks, the cars, the mortgages, and basically everything else.. weve turned into a bunch of communists...like when the president fires a company CEO from GM..how fucked up is that????
    Apr 22 11:57 AM | Link | Reply
  •  
    Went to Manhattan school of Music, got a bachelors and a masters... in NYC. The govt. couldn't care less about music or the arts whatsoever...The brooklyn Philharmonic just cancled its entire season all of next year...

    The economy will be fucked for the next 10 years. You want to get out, get out now!
    Apr 22 12:02 PM | Link | Reply
  •  
    How did community college rack up over 100k in loans?


    On Apr 22 11:57 AM joshuaodonnell wrote:

    > The govt. holds the loan! Just like they own everything else..the
    > banks, the cars, the mortgages, and basically everything else.. weve
    > turned into a bunch of communists...like when the president fires
    > a company CEO from GM..how fucked up is that????
    Apr 22 12:02 PM | Link | Reply
  •  
    So now you want the government to support your profession? And you don't want communism/socialism (I grouped them since you don't know the difference)?


    On Apr 22 12:02 PM joshuaodonnell wrote:

    > Went to Manhattan school of Music, got a bachelors and a masters...
    > in NYC. The govt. couldn't care less about music or the arts whatsoever...The
    > brooklyn Philharmonic just cancled its entire season all of next
    > year...
    >
    > The economy will be fucked for the next 10 years. You want to get
    > out, get out now!
    Apr 22 12:04 PM | Link | Reply
  •  
    its not a community college. Its a private music conservatory in NYC... It doesnt really matter anyway, because as long as contributions stop coming in, the arts are done.
    Apr 22 12:04 PM | Link | Reply
  •  
    Oh, the irony. And why did the banks need a bailout, Mr. Donnell? Because, among other reasons, of irresponsible borrowers who took out loans they couldn't afford to repay to buy cars, houses, and education. Does that sound like anyone we know?
    Apr 22 12:07 PM | Link | Reply
  •  
    I never said that I want the govt. to contribute anything. i want them to stop taking..
    Apr 22 12:07 PM | Link | Reply
  •  
    Well, you can tell that to the millions of students who are just about to default becuase none of them can find jobs........
    Apr 22 12:09 PM | Link | Reply
  •  
    > Well, you can tell that to the millions of students who are just about > to default becuase none of them can find jobs........

    I graduated last year, debt free. I went to a public university, worked during the semester and summer vacation, and received some financial assistance from my family. I also earned a degree in a field with decent job prospects. I'm in grad school, but almost all of my peers found jobs.

    And seriously, 100k in debt for a music degree? WTF were you thinking?
    Apr 22 12:15 PM | Link | Reply
  •  
    The problem here is that because of govt intervening into the private sector, all of the private funding that was being made available to performing arts and professional musicions is all disappearing. The govt is destroying this economy every single day, and some of them don't even know it.

    this is just the beginning.
    Apr 22 12:16 PM | Link | Reply
  •  
    Well, I was thinking Id have a job, like millions of other students in the same exact position.
    Apr 22 12:17 PM | Link | Reply
  •  
    Wow what type of job were you excpecting to get that you thought paying 100k for a music degree was worth it? I second what someone said earlier, its all on you. You are not the only one who cant find a job. Go work two three jobs for min wage and pay back your loan while you wait for the economy to improve or find the job of your 'dreams'.
    Apr 22 12:36 PM | Link | Reply
  •  
    You can all blow me.
    Apr 22 12:48 PM | Link | Reply
  •  
    Again, maybe it's your attitude that's preventing you from getting a job.
    Apr 22 01:42 PM | Link | Reply
  •  
    I DISREGARDED WHAT JOBS WERE ACTUALLY NEEDED IN MY AREA AND MAJORED IN MUSIC.

    NOW I AM 100K IN DEBT AND CAN'T FIND A WORK

    CURSE YOU ECONOMY THIS IS ALL YOUR FAULT
    Apr 22 01:58 PM | Link | Reply
  •  
    100 K in debt and you are trading?(I assume you are a trader because who else uses this website.) Talk about WTF. If it's not beneath you, try finding a job that is not in your chosen field, just to have a job and something to put on your resume. Better lose the sense of entitlement and overall arrogance first though.
    Apr 22 02:04 PM | Link | Reply
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