Student Loan Debt(USA) -830billion--exceeds credit card debt

[ROFL_GUY]

the US Govt with the backing of the federal reserve in the same way the created the real estate bubble by providing all americans through FannieMay and FreddieMac..(the US GOVT created these "companies") regardless or not if they had the capacity to pay the loans back
has been using the same exact easy lending practices to create the same economic bubble that lead to the housing bubble..the college bubble is next...

this is the most important video you will ever watch....

explains EVERYTHING... all young/old everyone should watch this.. the future is in your hands or is it?

[ame="http://www.youtube.com/watch?v=A75KERKwEQM"]http://www.youtube.com/watch?v=A75KERKwEQM[/ame]

 

[Spliff]

 

[Black Hans]

Damn that's it? I thought it would be in the trillions.

 

[Brown_Pride]

The difference though...
Is that these loans never go away. You can file bankruptcy and clear your bad mortgage history. Student loans are with you till you settle up. There is NO risk involved here.

Mortgages are based on an asset (which can go up or down in price...ergo you can speculate)

Student loans are fixed they are not going up or down...actually I take that back they are going up.

Short of laws changing if you want to invest in something this would not be to bad an industry to get at. I know from a collections stand point if you're able to win over a contract that includes student loans you are pretty much guaranteed a paycheck.

I'm 2k away from being all squared away on my fed money and 2k away on my private money.

 

[kingdizzy01]

maaan if i wasnt on the iphizzle, id have a 5 paragraph essay on this shyt. i was in the student loan industry for 5 years, saw it fall apart when obama ended the FFELP. its all part of the plan to make you all debt slaves.

 

[blackzeus]

maaan if i wasnt on the iphizzle, id have a 5 paragraph essay on this shyt. i was in the student loan industry for 5 years, saw it fall apart when obama ended the FFELP. its all part of the plan to make you all debt slaves.

what is FFELP? school a brotha

 

[kingdizzy01]

what is FFELP? school a brotha

The Federal Family Education Loan (FFEL) Program was the second largest of the U.S. higher education loan programs (Direct Loans being the first).

Federal Family Education Loan Program - Wikipedia, the free encyclopedia

they pushin the shyt out of a college education but ppl are barely realizing now that there arent jobs. people in the student loan industry knew this shyt back in 06 tho. the Fed pretty much monopolized the student loan system so they get all the profit. on top of that, the rising cost of tuition and the false belief that you NEED a degree to get a decent paying job. experience is what matters. theres only like 4 career paths that need schooling. if u aint in them, be prepared to be working for $9 an hour with a 600-$700 student loan monthly payment.

 

[Swaggatron]

subs

 

[blackzeus]

The Federal Family Education Loan (FFEL) Program was the second largest of the U.S. higher education loan programs (Direct Loans being the first).

Federal Family Education Loan Program - Wikipedia, the free encyclopedia

So what happened after it was closed? The loans starting being funded by private institutions?

 

[kingdizzy01]

So what happened after it was closed? The loans starting being funded by private institutions?

the opposite. it was private institutions backed by the gov. now the loans are directly from the fed. there are still private loans you can get tho but interest is crazy

 

[Loose]

ain't our loans at a better rate nowadays.

 

[kingdizzy01]

ain't our loans at a better rate nowadays.

yea, the rate is lower. but tuition has gone waaay the fukk up, let alone cost of living. when the loans default, instead of the bank hittin u up, now u got the gov hittin u up. and you better believe they WILL get their money, even if its taking food from your child's mouth

 

[john goodman]

maaan if i wasnt on the iphizzle, id have a 5 paragraph essay on this shyt. i was in the student loan industry for 5 years, saw it fall apart when obama ended the FFELP. its all part of the plan to make you all debt slaves.

Yes

My entire generation is selling themselves into slavery one useless class at a time


It's so demonic. They pump our heads with education propaganda since birth, then use that to enslave the people.

And when I try to tell my peers about it they act like I'm the crazy one

 

[kingdizzy01]

Yes

My entire generation is selling themselves into slavery one useless class at a time


It's so demonic. They pump our heads with education propaganda since birth, then use that to enslave the people.

And when I try to tell my peers about it they act like I'm the crazy one

they'll find out when they get their first bill...
let me guess...arts majors? most expensive and most worthless degree. the powers that be do a hell of a job hyping up the entertainment industry, it IS so demonic AND vile.

 

[CrimsonTider]

Tuition rising well beyond the starting salaries is the reason for the bubble.

Gov has to get a hold on tuiton at the public schools.