Student loan debt rose $42 billion in third quarter to total $956 billion

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  • Liberal Ted Salt Lake City, UT
    Dec. 5, 2012 10:21 a.m.

    The fools still don't understand that obamas plan of just giving us more education to create jobs...isn't a plan at all.

    You still have to have people willing to take the risk to borrow the money, create a business, work 24/7 for years to grow the company....You can have really smart people, but, if there isn't a job for them; then it's going to be hard to pay off the debt. Master students working as waiters to pay off their $200,000 student loan.

    Maybe if we just raise taxes, that will be a huge incentive to work harder. Who wouldn't want to put in a few extra hours of work to ensure they enter the next high tax bracket and lose more money?

    Then increase the amount of money you give to those who refuse to work. That will give them the incentive to get off of their butt and work.

    That's just the logic of the left and this president.

    They lose billions on every "investment" and call it a success.

    In the real world, if you do that you are bankrupt and filing papers to liquedate.

  • lost in DC West Jordan, UT
    Dec. 4, 2012 8:29 p.m.

    Just as Barney Frank gave us the subprime mortgage mess that caused the 2008 economic collapse by removing lending standards from mortgage lending, BO and his cabal are trying to do the same in student loans. What will be the result?

  • AlanSLJ Tacoma, WA
    Dec. 4, 2012 8:06 p.m.

    This problem won't be solved until it is identified properly. The fact is that for years, the Department of Education, and all of the lending elements it is charged with overseeing(ie the guarantors, collection companies) have been making, not losing money on defaulted student loans.

    One can easily see why, in this type of fiscal environment, the propensity to lend as much money to students as possible, to downplay the default rate, to "cheerlead" the lending system rather than report accurately about the harm this was bringing upon the citizens, would be strong. A host of other systemic flaws have also resulted from this perversely incented lending system, but let's just name a few for the purposes of this conversation.

    How could defaults possibly be more lucrative than healthy loans? The crux of this is the removal of bankruptcy and other consumer protections, protections which effectively removed the free-market "invisible hand" from jurisdiction, thereby enabling the inflation, defaults, and other consequences we are now staring in the face.

    Please consider this when considering this problem. To ignore it is guaranteed to misdiagnose, and thus never solve, the problem.

  • Say No to BO Mapleton, UT
    Dec. 4, 2012 6:01 p.m.

    This should be a surprise to no one.
    The message for the last four years has been that there aren't any jobs out there; you might as well go to school. That might be a good idea, but it will also boost the number of student loans out there.
    And school, especially community colleges, are learning that some students don't know the difference between a loan and a grant.
    This is a slow-motion train wreck...sort of like the fiscal cliff only on a personal level.

  • Most Truthful and Patriotic Layton, UT
    Dec. 4, 2012 4:54 p.m.

    Just because you CAN go to college, doesn't always mean you should.

    Few liberal arts degrees will support a family (and women, you don't know what's going to happen in the future, whether you are married or not). Science, technology, engineering, and mathematics provide the knowledge needed for a successful career.

    If you're going to college to "get rich quick", you might as well join a pyramid scheme - because even a business degree isn't helping businesspeople succeed.