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Neal Barton's POV

Excessive Student Loans

POV

POSTED: Wednesday, October 19, 2011 - 6:37pm

UPDATED: Thursday, March 8, 2012 - 11:52pm

Student loans.

This has gotten out of hand.

I know back in the dark ages when I went through college working part-time I probably paid about 5 grand for a college education at a state school.

This morning we were discussing this topic for a news story.

The conversation was about how painfully high these loans were and how some of the young folks I know will take years paying them back.

The kids I spoke with went to a state school and are responsible young people and
still owe 80-thousand dollars to the creditor.

One person I spoke with today said they only took a loan for school and expenses.

I asked "isn't that all you're supposed to get?"

He said no.

His friends would max out what was available and besides room and school they'd go and buy televisions and video games.

I was stunned.

Now those folks have more than 200-thousand dollars in loans to pay and feel like the forest has fallen on top of them.

But I have to ask this.

Who is supervising all this?

Is no one paying attention?

These are still kids no matter how you try and explain it.

It's the same reason some school threw credit card companies off
campuses years ago.

These kids are having large amount of money thrown at them.

Sure they'll take it.

At this age they're bulletproof and will live another 500 years.

No wonder so many kids today start out with a chip on their shoulder.

Do their parents not warn this of this?

Doesn't the school?

I don't know.

Now that the federal government forced its way into the loan biz this is my money being given to kids to party with.

And like Solyndra or Robert Byrd airport this is more money down the rat hole.

That's my point of view what's yours?

You can email me at pov@ketknbc.com

Comments News Comments

YOUR money being given to kids? Are you kidding me Neal? The Obama administration did the right thing by getting private banks out of the loan shark business of private student loans; by providing normal interest rates that don't suddenly spike up and leave the borrower unable to pay. The government subsidized the private loans in the first place, so what's the deal with the middle-man (private banks). They made a profit from a government backed loan, but yet don't take any risk! Capitalism eh?

Yes these loans should be repaid. This is not party money from the people. What part of loan do they not understand.

Yes they should be repaid. This is not party money from the people.

Gives these students a chance at life, forgive student loans or at least a portion of the loans, they are trying to better themselves, they cant do that if all their income goes to the repayment of student loans. The government pays for illegal to go to school and for their medical, why can't the government help American students better themselvesand forgive the loans.

Forgiveness of these loans is outrageous! Were any of us forgiven for the loans we took out to pay our mortgages, cars, etc.? These loans should be linked to social security numbers and when that person goes to work, it should be deducted from their paycheck.

I have about 100 grand in student loans through which I obtained 2 Bachelors degrees and a Masters. However, I graduated during the recession and have been unable to obtain gainful employment. The best part? My loans are through the federal government. It is Uncle Sam I'm supposed to be paying back. Yet, when I called to explain why I am unable to make my payments, I received a customer service representative in India. Even Uncle Sam is outsourcing.

The cost of higher education is ridiculous, my son wanted to go to college but we could not afford so we choose the "High Speed Universities" for his education while working now he working for fortune 500

I saw a news clip of a OWS protester holding a sign saying debt is slavery. He's right. Many of these loans are federal loans, not private, and they won't be forgiven. I'd bet it's the poorer students trapped by this, and the more you lie about eligibility the easier it is to get a loan. So much for gov't caring about the poor.

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