If This Shocking Photo Doesn't Convince You That We Need Student Debt Relief..

[miskie]

If This Shocking Photo Doesn't Convince You That We Need Student Debt Relief, Nothing Will

An actual student loan statement from one of the organizers of Occupy Graduation


 
Found on the website of Occupy Graduation/MoveOn.org

DUmbass doesn't seem to notice that the loan hasn't been paid at all in 20 years, and even considering that, the total owed in the graphic seems to have been ' enhanced for effect', but whatever works for Occupy, right ?

http://www.democraticunderground.com/1002727978

[BannedFromDU]

DUmbass doesn't seem to notice that the loan hasn't been paid at all in 20 years, and even considering that, the total owed in the graphic seems to have been ' enhanced for effect', but whatever works for Occupy, right ?

http://www.democraticunderground.com/1002727978

     I can fix this shit right now. DUmmies? Suppose you invested $30,000 in 1992 (I know, you don't have two nickels to rub together, but go with it for a second), and when your retirement hits in 2012, your account has exactly $30,000 in it. Would you be satisfied?

     Let me make it even simpler for a liberal: if someone asked to borrow a joint from you in 1992, promising to pay that one joint back in 2012, would you have lent out that joint?

     No.

     Here is your problem, in a nutshell: time has no value to you. Money has no value to you. Therefore THE TIME VALUE OF MONEY is a concept that you can understand no more than a donkey can understand geometric topology.

[zeitgeist]

DUmbass doesn't seem to notice that the loan hasn't been paid at all in 20 years, and even considering that, the total owed in the graphic seems to have been ' enhanced for effect', but whatever works for Occupy, right ?

http://www.democraticunderground.com/1002727978

Well God love 'em minskie, when it comes to all things money or mathematical DUmmies jess ain't that bright.  Worse yet they feel compelled to prove it on a regular basis.  

[BlueStateSaint]

you can understand no more than a donkey can understand geometric topology.

Ummm . . . I'm not a donkey, but I can't understand geometric topology, either--what is it?

[miskie]

Well God love 'em minskie, when it comes to all things money or mathematical DUmmies jess ain't that bright.  Worse yet they feel compelled to prove it on a regular basis.  

Well - the math doesn't lie.

Here we go -
The loan is in excess of 30 thousand, so the student could have opted for a longer repayment period, of up to 25 years - since we dont know the terms agreed to, I will assume 20 years - approximately the age of the loan today. assuming the loan was paid in full, and on time, the borrower would have given back about $74 thousand dollars, at the 9% interest rate listed.

The penalty for defaulting on a student loan is a 25% premium on top of the original total payback amount - or about another $18,500. That brings the total due to about $92,500 - triple what the original loan was.

Which is why the above graphic is deceitful. But so is nearly everything a liberal does, so it should come as no surprise.

[BannedFromDU]

Ummm . . . I'm not a donkey, but I can't understand geometric topology, either--what is it?

Sorry I mean algebraic topology.

[Splashdown]

If DUmmy started making regular, on-time payments, lots of that extra interest would be forgiven.

[BEG]

Listen you assholes, my husband went to college for 6 years, I worked while he went to college.  We paid the monthly payments, differed twice. Took us 10 years to pay it off. If you losers seriously think you should get your major in some stupid ass non-employable degree, don't expect me to pay for it.  We are already paying my kids college and paid my husbands school loans off.  Move to the UK if you want "free" university.  Which won't be "free" for long.

Another suggestion, don't be a professional student like my ex brother-in-law (still lives off his parents) or get an art degree and never intend to use that degree like my brother. He owes $60k in student loans, is unemployed, 50, lives with my dad, and has thousands of dollars worth of photography equipment he never intends on using.

Cry me a ****ing river you leeches.  Get angry at your beloved professors for the outrageous cost of college, not the companies that give you money on the promise YOU made to pay it back. Grow the hell up and act like ****ing adults. You disgust me.

[BattleHymn]

H5 to BannedFromDU's explanation. 

This graphic only tells me one thing: some people never learn how to make their money work for them, and instead end up working for their money. 

[bijou]

Listen you assholes, my husband went to college for 6 years, I worked while he went to college.  We paid the monthly payments, differed twice. Took us 10 years to pay it off. If you losers seriously think you should get your major in some stupid ass non-employable degree, don't expect me to pay for it.  We are already paying my kids college and paid my husbands school loans off.  Move to the UK if you want "free" university.  Which won't be "free" for long.

Another suggestion, don't be a professional student like my ex brother-in-law (still lives off his parents) or get an art degree and never intend to use that degree like my brother. He owes $60k in student loans, is unemployed, 50, lives with my dad, and has thousands of dollars worth of photography equipment he never intends on using.

Cry me a ****ing river you leeches.  Get angry at your beloved professors for the outrageous cost of college, not the companies that give you money on the promise YOU made to pay it back. Grow the hell up and act like ****ing adults. You disgust me.

A sociology degree at a fairly good (not top rank)  university here will cost them £41,500 which is about $65,000. Sorry DUmmies.

[BattleHymn]

From twitter hashtag #3wordcommecementspeeches:

Demand a refund.

Welcome to reality.

Shoulda studied finance.

You are unemployed.

They buy Plasma.

You got hosed.

 

[miskie]

Listen you assholes, my husband went to college for 6 years, I worked while he went to college.  We paid the monthly payments, differed twice. Took us 10 years to pay it off. If you losers seriously think you should get your major in some stupid ass non-employable degree, don't expect me to pay for it.  We are already paying my kids college and paid my husbands school loans off.  Move to the UK if you want "free" university.  Which won't be "free" for long.

Another suggestion, don't be a professional student like my ex brother-in-law (still lives off his parents) or get an art degree and never intend to use that degree like my brother. He owes $60k in student loans, is unemployed, 50, lives with my dad, and has thousands of dollars worth of photography equipment he never intends on using.

Cry me a ****ing river you leeches.  Get angry at your beloved professors for the outrageous cost of college, not the companies that give you money on the promise YOU made to pay it back. Grow the hell up and act like ****ing adults. You disgust me.

Half the problem is supply & demand.

For whatever reason, everyone has it in their heads they need to attend a four year college (or better) for everything, including things that only require an Associates degree, or a certificate of completion. TO make it worse, prospective students began demanding degrees in the bizarre & the unuseful - just so these kids who would otherwise not need to go to college, now have a reason to.

And all this increased demand does is decrease supply, which in turn increases cost.

So, kids are coming out with degrees in things such as Fashion Design, Horticulture, Theater, Music, Photography, Philosophy, etc. etc. and can't find a job - because somehow, they have gotten it into their tiny heads that they can turn something fun into profit.

They don't stop to think that those who actually get paid for these things are usually extraordinary talents. And most of these talents didn't need four years of bills to become successful.

[vesta111]

Well - the math doesn't lie.

Here we go -
The loan is in excess of 30 thousand, so the student could have opted for a longer repayment period, of up to 25 years - since we don't know the terms agreed to, I will assume 20 years - approximately the age of the loan today. assuming the loan was paid in full, and on time, the borrower would have given back about $74 thousand dollars, at the 9% interest rate listed.

The penalty for defaulting on a student loan is a 25% premium on top of the original total payback amount - or about another $18,500. That brings the total due to about $92,500 - triple what the original loan was.

Which is why the above graphic is deceitful. But so is nearly everything a liberal does, so it should come as no surprise.

Yikes, if I as an individual loan someone $30,000 at that rate I would go to jail for loan sharking.

The reason when we buy a new car we wait for the sales with 0% financing charge.  

People do do dumb things, a friend refinanced their home  adding another 15 years to their loan and borrowed enough to pay off all debts, credit cards and cars.   The cars had to be replaced in 5 years and the major purchase on the credit cards had to be replaced in 10 years.   So now these friends will be be paying for cars and appliances they no longer have for another 20 years.

Everyone told us to never borrow on our 401K, We did to pay off all debts except the house and repaid it in 5 years, pay roll deductable.

Watching the market very closely this time, if our 401K looses over $10,000 we will borrow half of the money, pay off the house and hunker down.   Pay cash for everything, no problem buying a older used car for cash and if major appliances die on us, buy used.

Kids that get these student loans are in a jam, they feel when they graduate they will immediately get a good job and pay off the loan. At no time do they think it will take 25 years to pay it off,  what 20 year old student looks ahead to when they are 45 ?

Every few years laws change as do banking practices, interest rates go up and down, jobs come and go, to have a 22 year old kid owe a potential of $90,000 on a $30,000 loan and a education that is no longer in demand best to tell the kid to get educated in the military, if the kid is smart anything they learn will help them when they get out.------Then take the VA benefits and go to college.

[Duke Nukum]

I, for one, am shocked.

I thought for sure it would be the picture of a couple of polar bears mourning a dead cub.

[obumazombie]

     I can fix this shit right now. DUmmies? Suppose you invested $30,000 in 1992 (I know, you don't have two nickels to rub together, but go with it for a second), and when your retirement hits in 2012, your account has exactly $30,000 in it. Would you be satisfied?

     Let me make it even simpler for a liberal: if someone asked to borrow a joint from you in 1992, promising to pay that one joint back in 2012, would you have lent out that joint?

     No.

     Here is your problem, in a nutshell: time has no value to you. Money has no value to you. Therefore THE TIME VALUE OF MONEY is a concept that you can understand no more than a donkey can understand geometric topology.

Einstein called compound interest the 8th wonder of the world.

[USA4ME]

A great lesson on compunding interest.  Otherwise, pay your bills.  I pay mine.

.

[BEG]

Half the problem is supply & demand.

For whatever reason, everyone has it in their heads they need to attend a four year college (or better) for everything, including things that only require an Associates degree, or a certificate of completion. TO make it worse, prospective students began demanding degrees in the bizarre & the unuseful - just so these kids who would otherwise not need to go to college, now have a reason to.

And all this increased demand does is decrease supply, which in turn increases cost.

So, kids are coming out with degrees in things such as Fashion Design, Horticulture, Theater, Music, Photography, Philosophy, etc. etc. and can't find a job - because somehow, they have gotten it into their tiny heads that they can turn something fun into profit.

They don't stop to think that those who actually get paid for these things are usually extraordinary talents. And most of these talents didn't need four years of bills to become successful.

That is what my brothers "fint art" degree is in. 

[BEG]

Yikes, if I as an individual loan someone $30,000 at that rate I would go to jail for loan sharking.

The reason when we buy a new car we wait for the sales with 0% financing charge.  

People do do dumb things, a friend refinanced their home  adding another 15 years to their loan and borrowed enough to pay off all debts, credit cards and cars.   The cars had to be replaced in 5 years and the major purchase on the credit cards had to be replaced in 10 years.   So now these friends will be be paying for cars and appliances they no longer have for another 20 years.

Everyone told us to never borrow on our 401K, We did to pay off all debts except the house and repaid it in 5 years, pay roll deductable.

Watching the market very closely this time, if our 401K looses over $10,000 we will borrow half of the money, pay off the house and hunker down.   Pay cash for everything, no problem buying a older used car for cash and if major appliances die on us, buy used.

Kids that get these student loans are in a jam, they feel when they graduate they will immediately get a good job and pay off the loan. At no time do they think it will take 25 years to pay it off,  what 20 year old student looks ahead to when they are 45 ?

Every few years laws change as do banking practices, interest rates go up and down, jobs come and go, to have a 22 year old kid owe a potential of $90,000 on a $30,000 loan and a education that is no longer in demand best to tell the kid to get educated in the military, if the kid is smart anything they learn will help them when they get out.------Then take the VA benefits and go to college.

These same "mini" adults could work and go to school at the same time. It's not rocket science.

[SSG Snuggle Bunny]

People too ****ing stupid to understand loans shouldn't be allowed into college...or be allowed to take-out loans.

[miskie]

That is what my brothers "fint art" degree is in. 

I know of one new photographer without a degree. He has skill and is developing his own business the old fashioned way. By gaining a following by doing good work for a fair price.

radical idea, eh ?

BTW - a couple of samples from this person..

How he can do this without a graduate degree in photography is entirely beyond me.   

[BEG]

I know of one new photographer without a degree. He has skill and is developing his own business the old fashioned way. By gaining a following by doing good work for a fair price.

radical idea, eh ?

BTW - a couple of samples from this person..

How he can do this without a graduate degree in photography is entirely beyond me.   

My brother would rather offend with coping "Piss Christ" only using Mountain Dew

[Chris_]

My brother would rather offend with coping "Piss Christ" only using Mountain Dew

OMG JEANYUS
_</liberal>

[Chris_]

I know of one new photographer without a degree. He has skill and is developing his own business the old fashioned way. By gaining a following by doing good work for a fair price.

radical idea, eh ?

How he can do this without a graduate degree in photography is entirely beyond me.   

OMG I R awesum

[andhe78]

So, kids are coming out with degrees in things such as Fashion Design, Horticulture, Theater, Music, Photography, Philosophy, etc. etc. and can't find a job - because somehow, they have gotten it into their tiny heads that they can turn something fun into profit.

They don't stop to think that those who actually get paid for these things are usually extraordinary talents. And most of these talents didn't need four years of bills to become successful.

Hey now!!  I have a degree in horticulture and another in forestry, and while the forestry one has been more beneficial, the horticulture degree has opened some good doors for me, and is what I'm planning on falling back on when I get too crippled up to keep doing what I enjoy.

Personally, I think the degree is not as important as what the person does with it.  I see many kids coming out of school and expecting a job right at the top of their field, and that's not the way the real world usually works.  They don't want to put in more time and effort working their way up, so they just move back in with the folks and mooch.  I can put a horticulturist to work tomorrow at a good wage, but they are going to be out in the field every day, getting dirty, and kids these days think their degree will just keep them in an air conditioned office.  

 
  

[Chris_]

Hey now!!  I have a degree in horticulture and another in forestry

I'm just curious, how many of your classmates that majored in either of those two have a job in that field?

My degree is information technology and I spent more years since then working in a different occupation than what I studied (banking, customer service).