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  1. #1 Student-Loan Debt Tops $1 Trillion 
    PORCUS MAXIMUS Rockntractor's Avatar
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    By JOSH MITCHELL and MAYA JACKSON-RANDALL

    The amount Americans owe on student loans is far higher than earlier estimates and could lead some consumers to postpone buying homes, potentially slowing the housing recovery, U.S. officials said Wednesday.

    Total student debt outstanding appears to have surpassed $1 trillion late last year, said officials at the Consumer Financial Protection Bureau, a federal agency created in the wake of the financial crisis. That would be roughly 16% higher than an estimate earlier this year by the Federal Reserve Bank of New York.



    The new figure—released Wednesday at a banking conference in Austin, Texas—is a preliminary finding from a study of student debt that the bureau plans to release this summer. Bureau officials said the estimate is based on a survey of private lenders, as opposed to other estimates that rely on a sampling of consumer credit reports.

    CFPB officials say student debt is rising for several reasons, including a surge in Americans going to college in recent years to escape the weak labor market. Also, tuition increases—which many colleges say are needed to offset big cuts in state funding—have many students taking out bigger loans.

    In addition, the interest costs on older loans are climbing as borrowers fall behind on payments, reflecting mounting financial strains, bureau officials said. New York Fed data show that as many as one in four student borrowers who have begun repaying their education debts are behind on payments. Read More>http://online.wsj.com/article/SB1000...googlenews_wsj
    The difference between pigs and people is that when they tell you you're cured it isn't a good thing.
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  2. #2  
    Senior Member Zeus's Avatar
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    Amt of student loan debt is basically meaningless unless compared to default rate and is that default ratio is also increasing.
    The 21st century. The age of Smart phones and Stupid people.

    It is said that branches draw their life from the vine. Each is separate yet all are one as they share one life giving stem . The Bible tells us we are called to a similar union in life, our lives with the life of God. We are incorporated into him; made sharers in his life. Apart from this union we can do nothing.
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  3. #3  
    PORCUS MAXIMUS Rockntractor's Avatar
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    Quote Originally Posted by Zeus View Post
    Amt of student loan debt is basically meaningless unless compared to default rate and is that default ratio is also increasing.
    http://www.ed.gov/news/press-release...-student-loans
    The difference between pigs and people is that when they tell you you're cured it isn't a good thing.
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  4. #4  
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    Student-Loan Debt Tops $1 Trillion
    No worries, what with this booming economy and them freshly equipped with their General Studies, Womyns Studies, Sociology Degrees, etc, they'll have this paid off in no time.
    Education without values, as useful as it is, seems rather to make man a more clever devil.
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  5. #5  
    Senior Member Bailey's Avatar
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    So let me get this straight, they took out loans they had not ability to pay off and now are getting bit in the ass? So I guess the American tax payer has to bail their freeloading ass out.
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  6. #6  
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    Quote Originally Posted by Bailey View Post
    So let me get this straight, they took out loans they had not ability to pay off and now are getting bit in the ass? So I guess the American tax payer has to bail their freeloading ass out.
    As with many things, I think it's a bit more complicated than that.
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  7. #7  
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    Quote Originally Posted by Artois View Post
    As with many things, I think it's a bit more complicated than that.
    How can it be?
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  8. #8  
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    Quote Originally Posted by Bailey View Post
    How can it be?
    Only that in voting in their messiah, the little o, they destroyed the jobs they were going to get so essentially they did this to themselves in multiple venues.
    It's not how old you are, it's how you got here.
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    When I judge someone's integrity one key thing I look at is - How does s/he treat people s/he doesn't agree with or does not like?
    I can respect someone who I do not agree with, but I have NO respect for someone who puts others down in a public forum. That is the hallmark of someone who has no integrity, and cannot be trusted.
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    Quote Originally Posted by Bailey View Post
    How can it be?
    College costs have spiraled out of control, far exceeding the rates of inflation. At every step of the way, the last few generations were told they had to attend college. All along the way people were told they had to, regardless of the costs, and that they'd make enough to pay it back.... Hell, some apprenticeships for skilled trades are now even asking for 4 year degrees, 2 year degrees have been common for awhile. There's certainly been some insanity on degree choices and what not, but we can't throw students under the bus, after pushing them into the street to begin with.

    Granted, I think the skyrocketing tuitions at state schools, are a far more pressing concern that needs to be addressed first.
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  10. #10  
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    Quote Originally Posted by Artois View Post
    College costs have spiraled out of control, far exceeding the rates of inflation. At every step of the way, the last few generations were told they had to attend college. All along the way people were told they had to, regardless of the costs, and that they'd make enough to pay it back.... Hell, some apprenticeships for skilled trades are now even asking for 4 year degrees, 2 year degrees have been common for awhile. There's certainly been some insanity on degree choices and what not, but we can't throw students under the bus, after pushing them into the street to begin with.

    Granted, I think the skyrocketing tuitions at state schools, are a far more pressing concern that needs to be addressed first.
    College tuition have spiraled upward because colleges could get any amount of money they wanted from gullible students. It's another example of how "funny money" expands costs. After all if I'm not paying the money (I borrowed it) and you're not getting it (He just works for the college) what difference could it make?

    The same thing happens, I believe, in the medical field. Funny Money - inflation.
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