Warning to those with student loans

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the government is coming to collect

[youtube]http://www.youtube.com/watch?v=R8T9KgsmJTI&feature=player_embedded[/youtube]

suppose that explains this purchase of 27 tactical shotguns by the Department Of Education.

https://www.fbo.gov/index?s=opportunity ... e&_cview=0

It's time to eliminate this whole dang department, what colossal waste of money and gross overreach of authority.

yes the billions in the stimulus aimed at offering future Ameicans a college education was a scam to insure future professor jobs

I won't default on my loans as I feel my education was largely worth it but some stimulus... print money to ensure future teaching jobs for an economy that has lost its jobs machine and cannot create jobs that are not, high-skill, tech, or white collar. Why so these kids can study some meaningless pursuit in a non-vocational field and leave with a worth less degree into a non-receptive job market... though their student loans are worth more then the nations credit card bills... a bill of goods we were sold

I've actually been at my education for several years, fading in and out of the system. I have had to backtrack several times and adjust my course. This was partly due to the fact that my adviser back at the community college I attended at the outset of my post-secondary education had me on an arts track all that while. This is not against him because, as an instructor in the history department, he feels more able to handle a student who is on an arts track, and I had not made my long-term wishes known partly out of fear that I wouldn't be able to attain any of my aspirations. I do, however, feel that I have been enriched by that era of my education.

Later, I failed to make the kind of progress that I wanted to because it took me such a long time to realize that psychology was still considered to be more of an art than a science, and what science there was to it was not of the nature I was interested in. Mind you, it is good science nevertheless, but I had in mind a concept of it that was more heavily connected to physics. If I had known that it would be necessary to apply for a chemistry degree to go in something more like the direction I wanted to go in, I would have been taking a lot more math courses.

Presently, I am catching up in my maths, and I am fairly close to obtaining a degree that I will have a use for in the long-term. However, its pursuit is not as much of an intellectual preoccupation for me as it once was. Rather than being a source of inspiration and interest, I feel that its benefit to me has been to build in me a sense of discipline that I would otherwise have failed to gain.

But I do suggest that those attending college presently try to find part-time work. I have found it to be very satisfying to see my own loans being paid down, of late. Every time I see a little bit of windfall applied to principle, such as netting a prime job that requires costly equipment I can borrow, a gentle zephyr of contentment passes through me.

Furthermore, paying down your debts can greatly reduce stress. It is hard to tell that stress from outstanding debt is there until having begun to remove that stress. As it accumulates, your mind learns to avoid it, and you develop a forgetful nature that can greatly impact your ability to remember your lessons. Having a sense that one's debt is something that can be managed provides a sense of focus and tranquility, and I would encourage seeking this out. It is very satisfying.

And that is my advice.

This is very reflective of the housing market before it collapsed. People were giving out loans to people who could not afford to pay them back while the pricing for housing suddenly increased.

If the government gave loans out to people who were going into fields with higher job demand such as STEM fields they wouldn't have as much of a default problem. A history major or a creative writing major should have no business taking out over $35,000 dollars in loans for their undergraduate degree. It is this irresponsible lending and will bite the federal government back in the butt once these students fail to find a job and default on their loans.

University and higher education was never intended to be a place that solely trained you for a job. People went to college for the sole purpose of being educated. They did not go to college for job training. If the government wants to get their investment back then they should invest wisely.

I will be about $24,000 in debt by the time I graduate college. I also work part time but it still is not enough to cover the cost. I know my degree will be worth it since it is with computers, and I like to apply my knowledge. I cannot wait to pay off my student debt.

I can't watch the video right now because my friend is watching a movie...but what do guns have to do with student loans exactly. should I drop out now and instantly aqquire a job before its too late so to speak? I really do not want to encounter someone with one of those because I end up in debt or whatever.

depends on what you are going to school for, but aim for vocational training in a career field that will inevitably expand over the next 15 to 20 years. Health care is a good one with many different career paths, and is gurranteed to grow over the coming decade

The other route is to look for something high-skilled in tech or a white collar job and play your chances. Firms and companies are always downsizing, but look at any city hall in the nation and all they care about is attracting the next Genentech, PricewaterhouseCoopers, or Google. If its not white collar or high skilled labor, they don't care about attracting lower-middle class or middle-class paying jobs; part of the reason that there is no great jobs machine in the US turning out jobs. So super high-skill, like a bioengineer at a pharmaceutical or a physicist at NASA.

Well I just watched the video and I think I better start looking for a job while remaining in college until I am sure I can afford to pay all the loans back if I drop out now and don't find a job in 6 months I would be screwed. I don't fancy having the department of education come after me why are they allowed to send people with guns to your house and kick down your door? that sounds horrifying.

They can kick in my door all they want, but it'll be like getting blood out of a turnip.

The best part of the video is at the end when the government says they didn't kick down his door, handcuff him, or hold him and his children against their will. lol, there a giant hole in his door.

Our government now is worse than England back in 1775....

The depth of this story is that supposedly there was fraud in the obtaining of these loans, not a matter of arrearage in payment.

However, the thought has occurred to me that the trend will continue as more and more borrowers are incapable of paying their debts to the creditors. The law currently gives creditors all the rights and really no protections for the borrowers on student loans.

I just don't want to get shot over not being able to pay the crap back if it comes down to that...I mean yeah I would like to think I will find a way to make income before or soon after I am done with college. But if I don't, I think sending an armed swat team after me would do more harm then good. So yeah regardless of if their was fraud involved in this situation or not it still does worry me.....speaking of which though what do they define as fraud?

I'm so happy i never went to college, is it true that you cant file bankrupcy over student loans? awful. there would be no way I'd be able to pay $40k back to anybody

I hope not.....especially if guns and kicking in doors becomes the normal way to deal with those who can't pay it back or at least cannot in the time frame they are expected to. Why could i not have known about this before I spent a year at a college too expensive for me to think I could afford then I could have just stuck to community college.

Glad I don't have any student loans, on a more serious note this is exactly why I think or government is out of control.

Yes, this is true. You cannot file bankrupcy on student loans. It should be that way since the government cannot take away your degree. If they cannot take away your degree, you should not be able to take away your debt.