Bily John Rodriguez
Bily John Rodriguez

I would say if you can't pay do not borrow. Government is flexible enough to invest in your future. You borrow 20k 30k 50k and think you can get away with it without paying? My recomendation people stop studying because you like this you like that. Start stuying a carreer that is in need so you can find a job and sustain yourself. The military is always willing to pay your debt for exchange of service. Our country needs you. Join them. But of course there is always people who likes the easy...

I would say if you can't pay do not borrow. Government is flexible enough to invest in your future. You borrow 20k 30k 50k and think you can get away with it without paying? My recomendation people stop studying because you like this you like that. Start stuying a carreer that is in need so you can find a job and sustain yourself. The military is always willing to pay your debt for exchange of service. Our country needs you. Join them. But of course there is always people who likes the easy way out going bankrupcy. I'm sorry people this will never happen.

Gordon Wayne Watts
Gordon Wayne Watts
  • Bily John Rodriguez

That would be like saying if you can't "afford" to borrow for a home, clothing, or a medical procedure --or food --then don't do it, however, that is fallible logic: In all 5 instances (food, clothing, shelter, medical, and education), you can't afford to refrain. You might assume a person could get a reasonably-paying job without an 'education,' but the Bill Gates of the world are the EXCEPTION, not the rule.

A graduating high-school student is doomed either way: Either be LUCKY to get a...

That would be like saying if you can't "afford" to borrow for a home, clothing, or a medical procedure --or food --then don't do it, however, that is fallible logic: In all 5 instances (food, clothing, shelter, medical, and education), you can't afford to refrain. You might assume a person could get a reasonably-paying job without an 'education,' but the Bill Gates of the world are the EXCEPTION, not the rule.

A graduating high-school student is doomed either way: Either be LUCKY to get a burger-flipping job (no education) or be in debt for life (or beyond -- get an education).

You also fail to consider no less than two (2) facts:

1) American institutions of higher ed hold a monopoly (illegal) on education: Look up the word 'monopoly,' if you doubt. This (obscene rate increases) would normally be addressed in SHORT-ORDER were it any *other* monopoly (for example, electric rates, Internet, water, etc.), but as students are a "minority," who lack political clout, this monopoly is allowed to proceed. (I doubt *you* would like it if *your* electric, water, and Internet became unbearable, and others simply said that if you could not afford electric, to NOT get it, eh?)

2) Student Borrowers are NOT told they lack bankruptcy protections (except in RARE, and I do mean RARE cases --look it up) -- Due to the fact Truth in Lending is also removed, this may be immoral,and certainly Unconstitutional in its lack of Due Process, but not illegal. Since no other loan lacks bankruptcy protections (any rich wall-street investor or banker can file, but NOT students! LOL?), they have an expectation of such rights.

This is no different than YOU being sold a car that has bad brakes -- that'd be a HUGE liability issue - and, this is true, as you would have a reasonable expectation that a car was supposed to have working brakes.

Would _you_ like it if they simply said "Well, we didn't lie to you -- we simply didn't tell you"??

In fact, it is precisely the lack of bankruptcy protections that CAUSE the tuition to be so high: www.GordonWatts.com/#alan
or:
www.GordonWayneWatts.com/#alan

Lenders, Guarantors, Colleges, & Universities, if they knew they defaulted loans would LOSE them money, not GAIN a huge profit, then they would STOP pressuring U.S. Congress to keep raising lending ceilings, thus creating this bubble.

Wake up, man! Click those links, and THEN comment after you've read them.

(-://

Bily John Rodriguez
Bily John Rodriguez
  • Bily John Rodriguez

Man up and face the result of your acts. By the way McDonald is a great company offering billion of jobs around the world. Thats the problem here in US, people like you probably dont want to pick up tomatoes but like ketchup. Study Marketing desiring a job under airconditioner but never had an idea of a business. You are a disgrace to our country.

Gordon Wayne Watts
Gordon Wayne Watts
  • Bily John Rodriguez

Bily, did you read my reply above? Also -- question:

If you're so 'for' student borrowers not being able to file for bankruptcy, then where were you when Solyndra, Donald Trump, and many, MANY rich Wall-Street BANKER & "Investors" (and countless companies to numerous to number) filed for bankruptcy?

#1 -- Students don't go to college with the hopes of filing for bankruptcy --not any students *I* know: They hope and plan on getting a job, hello?

#2 -- The Military does not always accept...

Bily, did you read my reply above? Also -- question:

If you're so 'for' student borrowers not being able to file for bankruptcy, then where were you when Solyndra, Donald Trump, and many, MANY rich Wall-Street BANKER & "Investors" (and countless companies to numerous to number) filed for bankruptcy?

#1 -- Students don't go to college with the hopes of filing for bankruptcy --not any students *I* know: They hope and plan on getting a job, hello?

#2 -- The Military does not always accept everybody, and even *their* debt-relief programs are NOT complete, not to mention they often send American soldiers to invade other countries who pose no threat to us -- which is akin to China invade OUR country and "occupying" it for decades on end. I'm sure WE would get mad for that, and so I don't fault other countries for getting peeved when WE invade THEM for any (or no) reason. Example: After we got rid of Saddam Hussein, we should have LEFT Iraq, OK? (Maybe he was a some sort of threat, but he'd been dead for AGES, now, OK? And our pretext for going in there was questionable to boot, but I'm willing to give GW Bush the benefit of the doubt here, yet we should NOT be "occupying" places like this for eons.)

#3 -- So, where _is_ your outrage for all these rich people always filing for bankruptcy. When you complain about them 'til you're hoarse in the face, THEN we'll talk about your complain above.

#4 -- did you read my prior reply to you, above?

Robert More
Robert More
  • Bily John Rodriguez

Mr. Rodriguez: did you read Mr. Watts' reply above? Also -- question:

If you're so 'for' student borrowers not being able to file for bankruptcy, then where were you when Solyndra, Donald Trump, and many, MANY rich Wall-Street BANKER & "Investors" (and countless companies to numerous to number) filed for bankruptcy?

#1 -- Students don't go to college with the hopes of filing for bankruptcy --not any students *I* know: They hope and plan on getting a job, hello?

#2 -- The Military does not...

Mr. Rodriguez: did you read Mr. Watts' reply above? Also -- question:

If you're so 'for' student borrowers not being able to file for bankruptcy, then where were you when Solyndra, Donald Trump, and many, MANY rich Wall-Street BANKER & "Investors" (and countless companies to numerous to number) filed for bankruptcy?

#1 -- Students don't go to college with the hopes of filing for bankruptcy --not any students *I* know: They hope and plan on getting a job, hello?

#2 -- The Military does not always accept everybody, and even *their* debt-relief programs are NOT complete, not to mention they often send American soldiers to invade other countries who pose no threat to us -- which is akin to China invade OUR country and "occupying" it for decades on end. I'm sure WE would get mad for that, and so I don't fault other countries for getting peeved when WE invade THEM for any (or no) reason. Example: After we got rid of Saddam Hussein, we should have LEFT Iraq, OK? (Maybe he was a some sort of threat, but he'd been dead for AGES, now, OK? And our pretext for going in there was questionable to boot, but I'm willing to give GW Bush the benefit of the doubt here, yet we should NOT be "occupying" places like this for eons.)

#3 -- So, where _is_ your outrage for all these rich people always filing for bankruptcy. When you complain about them 'til you're hoarse in the face, THEN we'll talk about your complain above.

#4 -- did you read Gordon Wayne Watts prior reply to you, above?

Timothy Marshall Ballard
Timothy Marshall Ballard
  • Bily John Rodriguez

Wow and here I was thinking that diverse opinions were WELCOMED in the country my family has fought and died for for over 250 years! Where was I when it was "decided" (clearly in his own mind) that being American meant agreeing with this guy? Oh yes! I remember.... IN A CLASSROOM!

Robert More
Robert More
  • Bily John Rodriguez

One other thing, Mr. Rodriguez: Did you not see the petition? It does not ask for a 'Free' education or a 'Free Handout,' only the same Standard Consumer Protections as all other loans. If the uber-rich and the Credit Card users can have these bankruptcy safety nets, why not students? Are students somehow less important? (Alternatively, if students don't need these standard protections, then why do we give them to anybody?)

You have not made your case as to why students should not be...

One other thing, Mr. Rodriguez: Did you not see the petition? It does not ask for a 'Free' education or a 'Free Handout,' only the same Standard Consumer Protections as all other loans. If the uber-rich and the Credit Card users can have these bankruptcy safety nets, why not students? Are students somehow less important? (Alternatively, if students don't need these standard protections, then why do we give them to anybody?)

You have not made your case as to why students should not be included along with other borrowers. Did you follow Mr. Gordon Wayne Watts' link listed above? Here it is again:

www.GordonWayneWatts.com/Higher-Ed-Tuition-Costs.html

or

www.GordonWayneWatts.com/Higher-Ed-Tuition-Costs.html

Gordon Wayne Watts
Gordon Wayne Watts
  • Bily John Rodriguez

Also, Bily... Did you not see the petition? It does not ask for a 'Free' education or a 'Free Handout,' only the same Standard Consumer Protections as all other loans. If the uber-rich and the Credit Card users can have these bankruptcy safety nets, why not students? Are students somehow less important? (Alternatively, if students don't need these standard protections, then why do we give them to anybody?)

You have not made your case as to why students should not be included along with...

Also, Bily... Did you not see the petition? It does not ask for a 'Free' education or a 'Free Handout,' only the same Standard Consumer Protections as all other loans. If the uber-rich and the Credit Card users can have these bankruptcy safety nets, why not students? Are students somehow less important? (Alternatively, if students don't need these standard protections, then why do we give them to anybody?)

You have not made your case as to why students should not be included along with other borrowers. Did you see my link listed above? (These prove that lack of bankruptcy protections are the main driving cause of tuition inflation.) Here again they are:

www.GordonWayneWatts.com/Higher-Ed-Tuition-Costs.html

or

www.GordonWatts.com/Higher-Ed-Tuition-Costs.html

or http://www.ThirstForJustice.net/Higher-Ed-Tuition-Costs.html

or even:

http://Gordon_Watts.Tripod.com/Higher-Ed-Tuition-Costs.html

Gail Melvin
Gail Melvin

my loan was 35000. Have been paying on it for over 10 years. have paid over $66000. interest not principle. Requests for lower interest rate's have been denied. I am now retired and living on 960.00 a month SSI.. are they going to turn me out on the street's?

Jean Jarosz
Jean Jarosz
  • Gail Melvin

I guess they will have to forgive the loan once your dead right! I think you paid more than enough...but I am just another loan payer for my son to go to college. The interest will kill you for sure. Ridiculous!!!

John Raymond
John Raymond
  • Gail Melvin

Ihear you Gail, and that's what people who say "just pay it back" cannot get in thier heads. Thier is NO recourse for people like you as thier is for any other loan situation. I just love it that people say we want a bail out, but forget that we all paid these same banks a bail out when they gambled with our money. Ironic. Telling people in our situation just to pay it back is like telling a manic depressent to just chear up. Without refinancing rights I think many will be homeless. I...

Ihear you Gail, and that's what people who say "just pay it back" cannot get in thier heads. Thier is NO recourse for people like you as thier is for any other loan situation. I just love it that people say we want a bail out, but forget that we all paid these same banks a bail out when they gambled with our money. Ironic. Telling people in our situation just to pay it back is like telling a manic depressent to just chear up. Without refinancing rights I think many will be homeless. I guess then we can so on Government aid....oh, wait they will probably deny that too since we defaulted.

Barbra Baptiste-Orr
Barbra Baptiste-Orr

I disagree I have seen to many abuses to bankruptcy.I think that the reason that the delinquency is so bad is because not one is collecting or doing workouts with the students. they just try to put numbers up but not solutions. They need seasoned collectors that know how to do work outs, that listen to the problem and set the payment at something the student can pay each month. Maybe after 6 months of payments on time you waive some of the accrued interest. Not every one is going to fit into...

I disagree I have seen to many abuses to bankruptcy.I think that the reason that the delinquency is so bad is because not one is collecting or doing workouts with the students. they just try to put numbers up but not solutions. They need seasoned collectors that know how to do work outs, that listen to the problem and set the payment at something the student can pay each month. Maybe after 6 months of payments on time you waive some of the accrued interest. Not every one is going to fit into the investor mold for requirements. Katie they might call my parents one time it would be the last. Your parents send them a cease and desist, it is against the law to call a person more than once a day eventually they will get so many complaints that there collection tactics will fall under the FTC. They will no longer be able to do those collection tactics that are unlawful for everyone else. You might check your state laws.

Gordon Wayne Watts
Gordon Wayne Watts
  • Barbra Baptiste-Orr

@ Baptiste Barbara - You mean that you think it's OK for Donald Trump to file for Bankruptcy FOUR TIMES for HUGE SUM$ of Monies, and it's OK for Credit Card users to be able to file for bankruptcy, but not student borrowers? LOL - Since the US Dept of Education is making $1.22 for every dollar of defaulted student loan, they MAKE a profit off of defaults, and have NO motive to pressure Congress to lower loan limits, and this induced colleges & universities to charge more to match the...

@ Baptiste Barbara - You mean that you think it's OK for Donald Trump to file for Bankruptcy FOUR TIMES for HUGE SUM$ of Monies, and it's OK for Credit Card users to be able to file for bankruptcy, but not student borrowers? LOL - Since the US Dept of Education is making $1.22 for every dollar of defaulted student loan, they MAKE a profit off of defaults, and have NO motive to pressure Congress to lower loan limits, and this induced colleges & universities to charge more to match the increased borrowing ability of student - i.e., it creates a bubble, as in housing, remember? (You do remember the Housing Bubble, don't'cha?)

However, if Bankruptcy proceedings were returned, then lenders, colleges, and the Dept of Ed would see a material LO$$ of monies when students default, and they'd ALL scramble to beg the Congress to lower loan limits, and the price of tuition would drop like a rock --as would defaults, and, of course, bankruptcy.

So, it's not just for the STUDENT that bankruptcy must be returned - it is also to stop "tuition inflation" in its tracks. Do you understand, finally??

Gordon Wayne Watts
Gordon Wayne Watts
  • Barbra Baptiste-Orr

After I chewed you out, you did not get angry, but liked my comment. Thank you for being mature & level-headed & open to new ideas, Barbara! :)

Jennifer St Clair
Jennifer St Clair

How is bankruptcy a fundamental consumer protection? If we allow people to file bankruptcy on their student loans how many would take the easy way out? What would that do to our educational system? I am 40 years old and will make my final student loan payment next month. I worked hard and tried to make double payments as often as I could but it was a debt I took on to be able to go to college. I knew how much I was borrowing. It wasn't a surprise at the end. I guess if people are...

How is bankruptcy a fundamental consumer protection? If we allow people to file bankruptcy on their student loans how many would take the easy way out? What would that do to our educational system? I am 40 years old and will make my final student loan payment next month. I worked hard and tried to make double payments as often as I could but it was a debt I took on to be able to go to college. I knew how much I was borrowing. It wasn't a surprise at the end. I guess if people are allowed to file bankruptcy on their student loans than their diplomas should be treated like an asset and it should be able to be repo'ed just like a car or home.

Terri Szoke
Terri Szoke
  • Jennifer St Clair

First they have to fix the system that allows students to get tattoos,clothes etc and pay with the student loan money they get ..

Deanna Seymour
Deanna Seymour
  • Jennifer St Clair

I didn't think you could claim bankruptcy on student loans...but that you could on everything else. Doesn't that stay on your record for 7 years?

Kathy Barnett Johnson
Kathy Barnett Johnson

College graduates today are feeling first hand the results of todays economy! Dreams of holding well paid jobs, once they graduate, have vanished for some! The fact is corporations like Sallie Mae have approved high interest loans for students that didn't even hold a job at the time is..unbelievable! Companies like Sallie Mae don't care..one way or another they want their money and their going to get their money! Some students owe as much as $600.00-$800.00 a month. Without the jobs that...

College graduates today are feeling first hand the results of todays economy! Dreams of holding well paid jobs, once they graduate, have vanished for some! The fact is corporations like Sallie Mae have approved high interest loans for students that didn't even hold a job at the time is..unbelievable! Companies like Sallie Mae don't care..one way or another they want their money and their going to get their money! Some students owe as much as $600.00-$800.00 a month. Without the jobs that they had planned on holding..they can't pay this kind of debt! Some type of protection needs to be put into place..let the student/graduate pay them a percentage of their paycheck..not all their pay and if they get sick and can't pay there needs to be a protection plan implemented. The way it is now for students I would strongly suggest DO NOT take out large student loans if you can help it! Interest rates as much as 8-9%....their higher than a home loan! Unless changes are made to lower the interest rates on these loans and borrower protection is put into place..you don't need to borrow large sums of cash unless you can pay it back without a problem! Just saying..they don't tell you all this when your borrowing from them!

Christopher Gilbertson
Christopher Gilbertson
  • Kathy Barnett Johnson

However that doesn't change the fact that the universities require that money to operate.... So everyone who is whinging on here is totally missing the point. The bigger picture here is that if the debts were removed then the universities would need to close down (or close to it) since they've lost so much of their money. As I have written elsewhere, frugal spending and forward planning is necessary. If you don't like the cost, try somewhere else, they aren't forcing you to do the degree......

However that doesn't change the fact that the universities require that money to operate.... So everyone who is whinging on here is totally missing the point. The bigger picture here is that if the debts were removed then the universities would need to close down (or close to it) since they've lost so much of their money. As I have written elsewhere, frugal spending and forward planning is necessary. If you don't like the cost, try somewhere else, they aren't forcing you to do the degree... Its a bit "rich" to use their services and then complain about the cost after you've already used them...

Teresa Rothaar
Teresa Rothaar
  • Kathy Barnett Johnson

-----The bigger picture here is that if the debts were removed then the universities would need to close down (or close to it) since they've lost so much of their money.------ No, they wouldn't. Without EZ, no-questions-asked student loans being handed out like candy to all comers, colleges would be plunged into a true free market, where they would be forced to adjust their tuition to what the market could bear, to what most people could pay out-of-pocket. Just as Banana Republic mortgages...

-----The bigger picture here is that if the debts were removed then the universities would need to close down (or close to it) since they've lost so much of their money.------ No, they wouldn't. Without EZ, no-questions-asked student loans being handed out like candy to all comers, colleges would be plunged into a true free market, where they would be forced to adjust their tuition to what the market could bear, to what most people could pay out-of-pocket. Just as Banana Republic mortgages created the housing bubble, Banana Republic student loans have created the college bubble. The best thing that could ever happen to students would be to eliminate student loans completely. The government needs to get out of the student loan business, and bankruptcy protections returned to private loans.

Pee GeeJr
Pee GeeJr

I actually belief education should be free but... of course polititians cannot easily lead and educated masses now can they.........

Suzy Hayes
Suzy Hayes
  • Pee GeeJr

ahhhhhhhh, nothing is "free", that's why we HAVE TAXES and why WE VOTE for the "politicians" which BEST represents ones social responsibilities, morals and beliefs. Now, one can VOTE for the party which feels the wealthiest 1% should pay no taxes, advocate that our taxes go to war, etc., or for the party which believes in taxes going toward education, social equality, etc!

AS OF THIS WRITING, WE STILL CAN VOTE.......you can do the research on this issue also, to see which party is working on "voter suppression"!

Lidiya Phillips
Lidiya Phillips
  • Pee GeeJr

There are countries, where it is. And they are ahead.

Allison Coppeto
Allison Coppeto

I just got out of a for profit school. I was lied to, the school is not accredited as they say. A lot of these schools should be checked out. If they are not on the up and up, then why does the government let them continue to operate? More and more people are put in debt through going to a school where you are allowed to take loans out, yet the schools are a scam. I am all for getting loans, but when the government knows half of these schools are scams and frauds, they should be held...

I just got out of a for profit school. I was lied to, the school is not accredited as they say. A lot of these schools should be checked out. If they are not on the up and up, then why does the government let them continue to operate? More and more people are put in debt through going to a school where you are allowed to take loans out, yet the schools are a scam. I am all for getting loans, but when the government knows half of these schools are scams and frauds, they should be held responsible as well since they know full well the loan is astronomical, and the school is a fraud. Nobody is watching my back.

Lidiya Phillips
Lidiya Phillips
  • Allison Coppeto

Education is a bukazillion-dollar business. Banks (who do the lending) are not concerned with the graduates' usefulness to the society, their quality of life and even with the USA being a good place to live. The banks are NOT government, they are private businesses. They want to get money loaned out and to get all of it back - P+I. Government guarantees of repayments of the money loaned to students - is a GOOD guarantee. And the government is indebted to the bank's also. Government - are...

Education is a bukazillion-dollar business. Banks (who do the lending) are not concerned with the graduates' usefulness to the society, their quality of life and even with the USA being a good place to live. The banks are NOT government, they are private businesses. They want to get money loaned out and to get all of it back - P+I. Government guarantees of repayments of the money loaned to students - is a GOOD guarantee. And the government is indebted to the bank's also. Government - are real people. They have huge outstanding loans. Hope you can connect the unsaid yourself.

Christopher Gilbertson
Christopher Gilbertson
  • Allison Coppeto

Totally agree, the Government don't have the kind of power people attribute to them. I see it as a huge balancing act, money doesn' grow on trees so to support one program something else has to be cut or tightened... (Yet other people would complain about that instead lol). The one thing that annoys me about the Governmental figures is that they get crazy wages with free perks, if their remuneration was fairer then I'd be a very happy guy :D

Angela Sisk
Angela Sisk

If they would just give us a break on the ridiculous interest, I could handle the actual loan much better. I got caught in that consolidation crap and didn't know I had a choice. They actually made it sound like I didn't have a choice in the matter at all. Somehow, 9,000 of actual borrowed money has turned into about 25k. I don't see how this is fair. And the credit rating hit I've taken has pretty much ruined my chances of ever having anything of my own, even a decent paying job.

Gerald Combe
Gerald Combe
  • Angela Sisk

My interest on my student loans is only 1.8 %.

Angela Sisk
Angela Sisk
  • Angela Sisk

My interest wasn't bad until the consolidation that I did, which I didn't understand what I was doing or I never would've agreed to it. For some reason, I didn't think that I had a choice.

Lyn Morris
Lyn Morris

A very worthy cause. David Pippin has expressed my sentiments exactly!

Gordon Wayne Watts
Gordon Wayne Watts
  • Lyn Morris

I agree, Lyn: The presence of easy loan monies and/or easy Government Grants drives tuition up, since colleges know they can charge more. (A bubble, as in housing LOL) -- However, what i only recently learned was that lack of bankruptcy protections mean the U.S. Dept of Education makes a killing off of students, since lack of Standard Consumer Protections and unreal garnishment powers mean that students are on the hook for life. (Students are not even told they lack bankruptcy rights, which...

I agree, Lyn: The presence of easy loan monies and/or easy Government Grants drives tuition up, since colleges know they can charge more. (A bubble, as in housing LOL) -- However, what i only recently learned was that lack of bankruptcy protections mean the U.S. Dept of Education makes a killing off of students, since lack of Standard Consumer Protections and unreal garnishment powers mean that students are on the hook for life. (Students are not even told they lack bankruptcy rights, which is akin to someone selling you a car and not telling you it had bad brakes = a huge liability issue.) -- If The Dept of Ed and lenders knew students could file for bankruptcy, then they'd stand to lose on bad loans, and they would STOP pressuring U.S. Congress to continue to raise the lending limits. See e.g.,

www. GordonWatts.com/Higher-Ed-Tuition-Costs.html#alan
or:
www.GordonWayneWatts.com/Higher-Ed-Tuition-Costs.html#alan

for proof of this.//

David Slater
David Slater

hahahahahahahahahahahahahhahahahahahahahahahahahaha...like THIS will ever change anyting.

Alan Collinge
Alan Collinge
  • David Slater

It will change alot. See Studentloanjustice.org/argument.htm to understand this problem.

Alan Collinge
Alan Collinge
  • David Slater

You wrote a pretty thoughtful comment in the Chronicle earlier. I'd have thought you'd have something a bit more substantial to say on this issue.

Gordon Wayne Watts
Gordon Wayne Watts
  • David Slater

Alan Collinge only a person of integrity and honour would be polite to his/her political enemies -- that takes moral courage to respond this way -- by the way, what was David Slater's thoughtful comment?

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