Student Loan Crisis - another Mortgage Meltdown?

A news report about the student loan scam.
The man in the story was better off before he went to college and got into debt.

Category:

Education

Tags:

• student
• loan
• college
• university
• sallie
• mae

[lostprophet912]

No offense to anyone older, but if you are going to go to college, you need to start your career earlier. The guy in the video looks like he is about 50. By that age it is usually a waste of time.

[evarojas]

Hiring someone based on their credit should be illegal and considered a discriminatory practice. How is a person supposed to pay debt without being hired? This is the Kingdom of the Reverse.

[DHarri9977]

@PurrGrrl The point here is that people are willing to get an education and are doing so through student loans which begs the question regarding the quality of life one will have after completing college. The markets are flooded with degreed people, the level of employment is well below the norm based on changes in the markets. Education provides an intrinsic quality to ones life while an economic crisis chips away at that very quality to the point of it becoming a distraction. .

[gigalin]

@evarojas so true, this is discriminating 101, USA has become a potty hole and americans shoot their own foot everyday, so sad to heard this kind of story.

[whyyesyes]

END THE DEPARTMENT OF EDUCATION.

[JeffersonDinedAlone]

@PurrGrrl Yes, an education is important, but college's only purpose is training for a profession. You can get an education at the public library and, now, on the internet. And, considering that many people do not care to attend, or do not possess the fundamental intellect to attend, and prefer simply to work, all of the jobs required in Society need to be filled, and the majority of them are not of interest to college graduates. All of those positions need workers to fill them.

[Nomoreidsleft]

The guy says he's living an upper middle class lifestyle before, and he can't scrape together enough money to pay off a $11K loan? I think he was living beyond his means.

[PurrGrrl]

In a democratic society, people can choose to go to college at any age and regardless of income level. Unfortunately, some Americans don't believe in democracy, as we can see by some of the comments here. They only want people from wealthy families to attend college or to be able to enjoy life. The rest of us can just work 80 hours per week so that 1% of the population can continue to bask in luxury. (Didn't use any abbreviations here, so I guess even Republicans will be able to read this.)

[PurrGrrl]

It's a shame some Americans can't see how important education is. An educated populace is vital to a democratic society. The system is now rigged to prevent poor or middle class people from going to college. Ignorance makes it easier for the wealthy few to control the masses. The problems in our country right now are complex. That's why some people vote against their own self-interest.They have no understanding of history or political science or the complexities of managing a society.

[farah2619]

@rockon6191 yup indeed he is thank you, his friends still flaunt their big house and big tv and such but my dad dont give a dam lol because he knows they didnt pay that house in cash and can risk it being taken away from them if something goes wrong. I think americans should set their own american dream that they can afford, not just try to copy friends

[rockon6191]

@farah2619 That's a great story. Your father is a very smart man indeed. I just wish other Americans would be as smart, or at least not blame everyone else for the consequences of their risky decisions.