When Unpaid Student Loan Bills Mean You Can No Longer Work
Few people realize that the loans they take out to pay for their education could eventually derail their careers. But in 19 states, government agencies can seize state-issued professional licenses from residents who default on their educational debts. Another state, South Dakota, suspends driver’s licenses, making it nearly impossible for people to get to work.
Firefighters, nurses, teachers, lawyers, massage therapists, barbers, psychologists and real estate brokers have all had their credentials suspended or revoked.
https://www.nytimes.com/2017/11/18/business/student-loans-licenses.html
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All they have to do is make arrangements to pay their student loans. I am sure they wouldn't miss a car payment or a credit card payment!
Sure they do.
And, there are alternatives when they don't pay them. Just like the alternative when one fails to pay on their student loans.
Of course there are. You said they wouldn't miss them. They do.
Just imagine how many people have to default for it to get to this level. Looks like taking personal and fiscal responsibility isn't something that can be blown off any more.
Although I don't blame the student completely. My daughter is in college. The cost of the books in fucking INSANE. $600 for a book that will be obsolete by the next semester?
We went through similar. Years ago, my son had to buy an Economics book that his professor had written, and had to buy it NEW, not used. Cost was $300. The prof decided not to use the book and never told the kids to return it. When we found out, we tried to return it to the school bookstore, and they told us we were too late for returns. So, we wasted $300. I would have been happy even if we'd gotten the used book price for the return.
I'm sure he did. I don't know who I was angrier at - the prof or the bookstore. The book was still in its original plastic wrapping!
That's who I would be pissed at.
There you go Jeremy. Part of the equation. The worst we had was a 3 book package, $1,100 for one course.
Education, like health care, should be 100% socialized. A healthy, educated populace is in EVERYONE'S best interest.
That's nonsense. Not everyone needs to, and/or should go to college.
I can't even count the people I knew who were going to college when I was there only as a four year party. They got nothing out of it and ended up working as bartenders or waitresses anyway. And that is paying for college. It would just get worse if people didn't have to pay for it.
Social programs like that are just great until you run out of other people's money.
Yeah jobs in the trades are beneath many folks today. The trades were good enough for those of us who helped build this country but not for them.
They evidently require some liberal arts degree that's a dime a dozen and then wonder why they can't get a good paying job.
So they have to ask for 15 bucks an hour to flip burgers
The average age of a licensed plumber is 58. I guess there is a shortage of skilled trade workers.
E.A NASA on the ISS is now " Recycling Everything " SO I can envision tube from Anus to Mouth, so guess what?
Had i stayed in the skilled trades i would have been retired years ago and probably working on a second pension. Not a complaint because i don't regret that choice in the least but rather to make a point of how well a job like that can work out if one is so motivated.
They would be better off apprenticing in the trades, not enough young people willing to work their way up or work with their hands anymore.
Also, there is a coming pilot shortage, lots of airlines are making all kinds of deals...signing bonuses, tuition reimbursement, etc.
You know I worked to put myself through school. I spent 3 semesters at Hofstra University which was private. It cost $5,800/year. In today's money, that is $15,151. you can work and pay that off.
My daughters' school cost $67K a year/kid. Yes, it was a top school, but they are going into medicine. But in my day, I know kids who went to equivalent schools and that between $5-$9k. The math doesn't work.
The problem is that the universities have gotten too expensive. I am not sure why, but that is a fact. Tuition is outpacing inflation by 4 times and there has to be a problem with that.
I went to a private school for undergrad. When I graduated, it cost about $14,000 per year, but I had scholarships, so I didn't pay nearly that much. Last I checked, tuition, room, and board at my alma mater was approaching $25,000 per year. I don't know how a family with more than one child can possibly afford that.
I've tried to save for my son's education, so he won't have the student loan debt I've had, but I think it may be unavoidable.
We were lucky with the girls Sandy. But we also told them that their post grad work was on them. They took that very seriously and picked their schools accordingly.
But our school system has changed.
When I went to Queens College for my undergrad it was $900 a year. Now it's $6330/year. But still adjusted for inflation it should be $3,551.95/year
When a public school has doubled it's tuition, there is something else going on in the system.
A huge problem for kids. You pay professor's more, you charge to keep up the newest, latest, greatest buildings, you pay for the insider textbook scam (professor's write them, get their friends to require them and visa-versa) that the student gets killed dollar wise for. As to 'socializing' college? Don't you need to get the professor's to buy in on a socialized standard of pay? What of the current infrastructure on each and every campus? Very few in the 'business' of higher education are interested in making less money, regardless of how they feel other people should act.
That makes no sense in this case. Queens college used to get more subsidies than they do today and their ranking has never gone up or down. Why does everything have to boil down to a single talking point?
And if we were to have socialized education in college or even trade schools, they would charge more. I use to sell insurance before the government got so involved in it. I could sell a family of four a $100 deductible, 80% of the next $5,000 and then 100% up to $1,000,000 at that time. Then the government got more and more involved in insurance and the rates are no where near they were then.
When I was in the Air Force a carburetor at the shop I worked in cost the government 10 times what you could buy the same carburetor off the base. We use bomb lift lights on our dirt bikes so we could drive on the road. The lights would cost 25% of what you had to pay for the entire bike. And if a general did an inspection on the base, we were ordered to throw away the excess stock. Government intervention always makes the price of anything go up because it's not their money.
There’s a difference between unwilling to pay back a loan and unable to do it. When I got out of college, I took a job in a shoe store because I couldn’t find anything else. I worked weekends and as many weekdays as they would give me but it still wasn’t a full time job. I could barely make ends meet and had nothing left over after paying for food and shelter, I had no car, no credit cards, and no health care. I rode a bicycle for transportation or walked. My bed was an old pullout sofa. I ate at a card table with fold up chairs. My meals were mostly oatmeal or rice. I could never pay my rent on time but the landlord cut me a break because i was trying. My only entertainment (other than my girlfriend) was a TV that was so cheap that it caught on fire while I was watching it. After it burned up, I had nothing. I probably should have applied for public assistance but I would die before I stuck my hand out.
I couldn’t repay my student loans and they went into collections. The collection office hounded me constantly as though I could somehow crap coins. They called me up and threatened to sue me. I was so tired of being hounded that I laughed and said do whatever you want but you’ll never get blood out of a turnip. They left me alone for a while and, eventually, I decided that the best thing to do was roll the loan into more loans, go back to school, and try to get a job higher up the pay scale. When I got out of school, I eventually made enough money to pay everything back.
I understand why the government wants to be repaid but I also understand that a debtor may not be able to repay it and chopping off the person’s hands won’t produce a dime.
Oh. Em. Gee. We agree on something.
I have friends that have kids that are pursuing degrees while accruing massive debt. College costs keep escalating (except for the odd few). A friend of mine went to Purdue, then got his masters form Georgetown. He was able to find a job working in a law firm running their mail room/print room. His end goal was to get a job at a college and write text books, because that's where the real money is, you get your friend professors to require your book, you require theirs and everyone gets paid. I've started thinking that the 1950s/1960s parental goal of 'my kid(s) going to college' is a dream that has lost it's focus-and let's be serious, the vast majority of those defaulting on student loans are college attendees, not trade schools.
There will always be those trades looked down upon by the college grad crowd, but when everyone has a degree, the one guy that can unplug your toilet, fix your roof, your furnace, your A/C, your car (etc., etc.).....that guy will be king, but our society doesn't really encourage those pursuits.