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#1
Before you go to college, watch this:

http://www.youtube.com/watch?v=cjumeyZpL3I

Feel free to discuss.

Here's the average figures for those who are not aware and think because they take out a loan for 50k they pay back 50k

60k loan
$600 a month for 30 years at 6%
Total repayment: 128k

100k loan:
$1,100 a month for 30 years at 6%
Total repayment: 220k

Do not compare student loans to other types of loans. They are NOT the same. They can not be discharged in bankruptcy, which makes them a whole different breed of a loan, and the only different breed of a loan. Lending practices, interest rates, rules and regulations, giving loans out to people who most likely won't be able to pay them back, collection processes, and defaults are ALL major differences in the way student loans are handled compared to a mortgage, car loan, etc. They know there is NO escape for you and they will use this to their advantage. Student loans will never be wiped off your credit like every other type of loan. They will be there forever if you don't pay it back.


This thread is a repost because the last was severely derailed and I deleted it. For reference, I never or am not implying do not go to school. I'm saying avoid high student loans.
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Last edited by guitar nubsauce at Sep 23, 2010,
#2
Dude, didn't you make this thread already?
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#3
So go to community college or get a scholarship. It's not rocket science (unless of course you're taking a rocket science class).

EDIT: I wouldn't say the old thread got derailed, it's more of a progressive discussion. As you discuss one topic you introduce others, it happens all the time and it helps to focus on the big picture of things rather than one small thing.
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Last edited by rgrockr at Sep 22, 2010,
#4
Did you seriously delete the old thread and make a new one? Are you just going to continue to be a jerk towards people because they are going to college (and god forbid) have to take out a loan?
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#5
I think it got closed.

College is expensive for a reason. People with Bachelors degrees make more than those who do not.
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#6
Reported.

And your old thread wasn't derailed, it was a debate and you were being ripped apart by people saying you were being a dick.
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Last edited by Todd Hart at Sep 22, 2010,
#8
Quote by sk8boardbob2
I think it got closed.

College is expensive for a reason. People with Bachelors degrees make more than those who do not.


Bachelor? Why would you settle with a Bachelor??? At LEAST get a Masters degree.
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#9
This thread had already been made. Somehow it is not here anymore. You deleting the thread shows a lack of maturity, as there was credible debate going on in that thread.

You've been reported.
Last edited by XgamerGt04 at Sep 22, 2010,
#10


Just following up on your idiotic statements from the last thread:

If every single artist followed your "wise" advice on not going to school for the arts, there would be thousands, if not hundred thousands, less successful working class people, as well as a few hundred pop level artists.

And I'm sure the many recent alumni I keep in contact with who are working as publishers, assistant directors/arrangers, sound designers for major video game companies, engineers for Bose, managers, shadowing major Hollywood composers and producers are all just wallowing in regret about their loans. Oh wait...

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#12
Hurrah for free university education.
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#14
It makes me feel sick to think about getting that in debt for something the civilised world gives away for free.
#15
Quote by Mistress_Ibanez
It makes me feel sick to think about getting that in debt for something the civilised world gives away for free.

Did you just call the US uncivilized? I call ethnocentrism.
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#16
Quote by Mistress_Ibanez
It makes me feel sick to think about getting that in debt for something the civilised world gives away for free.


How do you figure? What parts of the world give away University level education for free?

Yeah, the student loan debt scheme is pretty horrible.
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#18
It's just a fact that people will need financial aid and have to procure loans.
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#19
Quote by SlinkyBlue
How do you figure? What parts of the world give away University level education for free?

Yeah, the student loan debt scheme is pretty horrible.


Pretty much all of Europe bar the UK.

My British student loan is at 5% too but at least it's only £30,000...
#20
Quote by SlinkyBlue
How do you figure? What parts of the world give away University level education for free?

Yeah, the student loan debt scheme is pretty horrible.


i only pay about 100 euro every year for my uni and i get a maintenance grant to cover my living expenses
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#22
Hahahaha, I can't believe this guy remade the thread
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Interesting question...
#23
wat.
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#25
Quote by Ponyexpress
where does that exist?


Are you all being sarcastic or are you really not aware of free education?

That's really sad
#26
Quote by SlinkyBlue
How do you figure? What parts of the world give away University level education for free?

Yeah, the student loan debt scheme is pretty horrible.

I (well, lucky for me, my parents) pay for food, place to sleep, books and enrolment (which is maybe €300). So it's pretty much close to free education compared to 100k...
Hurray for Europe where neo-liberals didn't privatize/cut costs on practically every single instute (i.e. health care, good schools,...)
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Last edited by poipoi at Sep 22, 2010,
#27
Quote by Mistress_Ibanez
Are you all being sarcastic or are you really not aware of free education?

That's really sad

It's not free; it's payed for with taxes.
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what's the point in being "philiosophical"?

Interesting question...
#28
Quote by Mistress_Ibanez
Are you all being sarcastic or are you really not aware of free education?

That's really sad


Clearly nevereverland is an evil dictatorship.
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#29
Quote by Vornik
It's not free; it's payed for with taxes.


Yeah, I haven't paid $100,000 of tax yet though.
#30
I'm pretty sure the only people who didn't know this already were people who don't know how interest works, and those people shouldn't be getting a loan anyway.

Or going to college.
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#32
Quote by Mistress_Ibanez
Yeah, I haven't paid $100,000 of tax yet though.

But your parents certainly have, as will you as time goes by.

Also, most state schools in the US are only like 8000 a year tuition. Its only ridiculous private schools that are that expensive.

Also, you should never take out a loan if you intend to only pay the minimum per month
#33
Quote by captaincrunk
Are you saying only educated people deserve education?

Yes, that's exactly what I said in that part of my post you quoted.

You'd make a great politician.
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#34
Daddy paid my education and I got a $5k scholarship.

3 years bachelor's degree = $6,7k
2 years Masters degree = $4,6k

I'm debt free. College in Quebec is cheap.
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#35
Thats how every loan works. On a 30 year mortgage, the first 12 years+ are all you paying off the interest you will accumulate over 30 years.

If you dont understand that, you shouldnt be allowed to get a loan for anything.
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Last edited by doomded at Sep 22, 2010,
#36
Quote by GodofCheesecake
Yes, that's exactly what I said in that part of my post you quoted.

You'd make a great politician.

It's not like you aren't allowed to defend yourself. You could have said "No, I just meant stupid people drop out anyway" or whatever it is you actually mean. Instead you call me a politician
#37
I'm going to have to make one post in this thread because it's getting out of hand:

stop comparing student loans to other types of loans - because they are nothing like other loans. See OP for more information if you're uninformed and making false (read dumb) statements.
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Last edited by guitar nubsauce at Sep 22, 2010,
#38
Quote by guitar nubsauce
I'm going to have to make one post in this thread because it's getting out of hand:

stop comparing student loans to other types of loans - because they are nothing like other loans. See OP for more information if you're uninformed and making false (read dumb) statements.

You gave one reason why student loans are different. Which is that they cant be deleted by bankruptcy. That makes NO difference in how the loan works compared to other loans.

If you take a loan, the first half of you paying it off will mostly be you paying off the accumulated interest, NO MATTER WHAT KIND OF LOAN IT IS.

If you dont understand that, you shouldnt be allowed to take a loan.
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#39
Quote by doomded
You gave one reason why student loans are different. Which is that they cant be deleted by bankruptcy. That makes NO difference in how the loan works compared to other loans.

If you take a loan, the first half of you paying it off will mostly be you paying off the accumulated interest, NO MATTER WHAT KIND OF LOAN IT IS.

If you dont understand that, you shouldnt be allowed to take a loan.


Okay, I updated it once again since you can't figure it out for yourself.

Nobody is contesting how interest rates work by the way. I'm trying to tell you to stop generalizing student loans with car loans, mortgages, etc, because they are a VERY different breed.
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#40
Quote by Todd Hart
Clearly nevereverland is an evil dictatorship.

that's nevereverFOREVERland to you sir and no i wasn't being sarcastic, I didn't know there was any free colleges there's none here in Americ- Nevereverforeverland anyways.
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