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Student debt is over $1.6 trillion and hardly anyone is paying down their loans

 
Anonymous Coward
User ID: 77673116
British Virgin Islands
01/17/2020 11:42 AM
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Student debt is over $1.6 trillion and hardly anyone is paying down their loans
Since the explosion of student debt following the Great Recession, annual repayment rates, or the amount of existing balances lowered, have been just 3%, Moody’s said. Just 51% of borrowers who took out loans from 2010-12 have made any progress at all in paying down their debt.

“While in the past, higher enrollment and rising tuition were the main drivers of growing student loan balances, more recently, slow repayments have become the primary driver,” Jody Shenn, senior analyst at Moody’s, and others said in the report. “Over the next few years, the combination of slow repayments and elevated, if no longer growing, levels of new borrowing will likely fuel further increases in outstanding debt.”

[link to www.cnbc.com (secure)]
Icey

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01/17/2020 11:46 AM
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Re: Student debt is over $1.6 trillion and hardly anyone is paying down their loans
Put them in prison if they wont pay.
I am SNOWIE. WELCOME TO THE NEW ICE AGE. TRY NOT TO STARVE.
Anonymous Coward
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01/17/2020 11:54 AM
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Re: Student debt is over $1.6 trillion and hardly anyone is paying down their loans
Put them in prison if they wont pay.
 Quoting: Icey


Should just let the banks eat their bad investments, just like the average person.
Anonymous Coward
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01/17/2020 11:59 AM
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Re: Student debt is over $1.6 trillion and hardly anyone is paying down their loans
Can't afford to. They shipped any decent jobs out, and the few decent jobs they didn't ship our, they are bringing millions of foreigners in to work.

Student loans where designed as a trap, to force Americans into abject poverty.
Teslahowitzer
User ID: 73896107
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01/17/2020 12:16 PM
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Re: Student debt is over $1.6 trillion and hardly anyone is paying down their loans
Add to the equation the wannabe socialist thinking their debt will be forgiven in an everything free utopia where money just falls from the socialist skies.
Anonymous Coward
User ID: 76651313
United States
01/17/2020 12:18 PM
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Re: Student debt is over $1.6 trillion and hardly anyone is paying down their loans
Is this just hype to set up a communism style Free College/Govt bailout/Freeshit Army Schooling program??? Like comrade bernie talks about??? Sounds like it.

Students haven't been paying loans for decades. Particularly medical school grads.
Anonymous Coward
User ID: 78093568
Australia
01/17/2020 12:19 PM
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Re: Student debt is over $1.6 trillion and hardly anyone is paying down their loans
Put them in prison if they wont pay.
 Quoting: Icey


The scum who counterfeited it first.
Anonymous Coward
User ID: 76025615
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01/17/2020 12:24 PM
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Re: Student debt is over $1.6 trillion and hardly anyone is paying down their loans
Put them in prison if they wont pay.
 Quoting: Icey


Why?

Did any bankers got to prison for their bad bet?

Hell no they got bailed out by taxpayers and got the titles of homes and got away with fraud via mers and Linda Green.



Gee so you want to jail kids who were told a college degree was necessary to get ahead in the world and was very obvious as they were letting in millions of illegal aliens which Trump continues to do to drive down the wages of blue collar work then had the rug pulled out from underneath them via the clintons not allowing them to bankrupt out of student loan debt and you want to support this with your tax dollars by paying to incarcerate a bunch of kids at the tuna 50,000 a year she going to penalize the taxpayers again for bankers bad bets that they knew weren't going to fly.

What a jag off

No wonder you support a traitor who said the clintons were good people.
Anonymous Coward
User ID: 77086513
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01/17/2020 12:28 PM
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Re: Student debt is over $1.6 trillion and hardly anyone is paying down their loans
More Americans should leave the country if they want to go to college. Many places in Europe are much more affordable and in a few places, free.

This country doesn't care about education, which is why it ranks at about 30th in the world.
Kotlik
User ID: 60644295
United States
01/17/2020 12:28 PM
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Re: Student debt is over $1.6 trillion and hardly anyone is paying down their loans
$520.00 left to go till I am paid in full.

Conservative Americans pay their debts.
wessonoil

User ID: 77248656
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01/17/2020 12:28 PM
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Re: Student debt is over $1.6 trillion and hardly anyone is paying down their loans
Can't afford to. They shipped any decent jobs out, and the few decent jobs they didn't ship our, they are bringing millions of foreigners in to work.

Student loans where designed as a trap, to force Americans into abject poverty.
 Quoting: Anonymous Coward 78344555


Can't afford to. They shipped any decent jobs out, and the few decent jobs they didn't ship our, they are bringing millions of foreigners in to work.

Student loans where designed as a trap, to force Americans into abject poverty.
 Quoting: Anonymous Coward 78344555


And suckers fell for the ploy. I didn't fall for it because I am not an idiot. People should pay for the mistakes they make.
wessonoil
Anonymous Coward
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01/17/2020 12:28 PM
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Re: Student debt is over $1.6 trillion and hardly anyone is paying down their loans
Thread: The myth of needing a college degree for most jobs is crumbling.
Anonymous Coward
User ID: 77086513
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01/17/2020 12:33 PM
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Re: Student debt is over $1.6 trillion and hardly anyone is paying down their loans
Can't afford to. They shipped any decent jobs out, and the few decent jobs they didn't ship our, they are bringing millions of foreigners in to work.

Student loans where designed as a trap, to force Americans into abject poverty.
 Quoting: Anonymous Coward 78344555


Can't afford to. They shipped any decent jobs out, and the few decent jobs they didn't ship our, they are bringing millions of foreigners in to work.

Student loans where designed as a trap, to force Americans into abject poverty.
 Quoting: Anonymous Coward 78344555


And suckers fell for the ploy. I didn't fall for it because I am not an idiot. People should pay for the mistakes they make.
 Quoting: wessonoil


You mean people should pay because they were deceived and lied to? Makes sense.
Anonymous Coward
User ID: 76025615
United States
01/17/2020 12:34 PM
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Re: Student debt is over $1.6 trillion and hardly anyone is paying down their loans
$520.00 left to go till I am paid in full.

Conservative Americans pay their debts.
 Quoting: Kotlik 60644295


if that was true then we wouldn't be 20 plus trillion dollars in debt for wars that were for Israel.
Every person with a social security number is liable for the national debt so have you paid your 670,000 and growing debt or are you saying you're calling yourself conservative but a really a liberal spending the nation into debt for whatever your politician decides to spend money on.

There's a reason not to register to vote obviously you're too dumb to understand why.

so conservative are you going to leave that national debt to the next generation to pay off?
got to love today's conservatives leaving national debt to their children that their great-great grandchildren will never pay off and calling themselves conservative

Insane logic today.
Anonymous Coward
User ID: 28925333
United States
01/17/2020 01:05 PM
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Re: Student debt is over $1.6 trillion and hardly anyone is paying down their loans
Since the explosion of student debt following the Great Recession, annual repayment rates, or the amount of existing balances lowered, have been just 3%, Moody’s said. Just 51% of borrowers who took out loans from 2010-12 have made any progress at all in paying down their debt.

“While in the past, higher enrollment and rising tuition were the main drivers of growing student loan balances, more recently, slow repayments have become the primary driver,” Jody Shenn, senior analyst at Moody’s, and others said in the report. “Over the next few years, the combination of slow repayments and elevated, if no longer growing, levels of new borrowing will likely fuel further increases in outstanding debt.”

[link to www.cnbc.com (secure)]
 Quoting: Anonymous Coward 77673116


People can't pay back loans when they only get paid $12.50/hr.
Judethz

User ID: 75895360
United Kingdom
01/17/2020 01:20 PM
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Re: Student debt is over $1.6 trillion and hardly anyone is paying down their loans
Since the explosion of student debt following the Great Recession, annual repayment rates, or the amount of existing balances lowered, have been just 3%, Moody’s said. Just 51% of borrowers who took out loans from 2010-12 have made any progress at all in paying down their debt.

“While in the past, higher enrollment and rising tuition were the main drivers of growing student loan balances, more recently, slow repayments have become the primary driver,” Jody Shenn, senior analyst at Moody’s, and others said in the report. “Over the next few years, the combination of slow repayments and elevated, if no longer growing, levels of new borrowing will likely fuel further increases in outstanding debt.”

[link to www.cnbc.com (secure)]
 Quoting: Anonymous Coward 77673116


Janett Don't worry! All they need to do is extend the loan payment terms to 100 years.
Anonymous Coward
User ID: 77917899
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01/17/2020 01:22 PM
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Re: Student debt is over $1.6 trillion and hardly anyone is paying down their loans
Add to the equation the wannabe socialist thinking their debt will be forgiven in an everything free utopia where money just falls from the socialist skies.
 Quoting: Teslahowitzer 73896107



False.
Money doesn’t “fall from the skies”. We are going to simply seize the assets of the ‘People far more intelligent than millennialss by force sometime within the next 3 election cycles and leave you to die in the street like your generation deserves.

You have 1 or MAYBE two election cycles left where your numbers will be significant enough to matter.

Prepare for the inevitable, ‘People far more intelligent than millennials.
Anonymous Coward
User ID: 77119396
United States
01/17/2020 01:23 PM
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Re: Student debt is over $1.6 trillion and hardly anyone is paying down their loans
Does that include the Sallie Mae (SLM) fund?
Anonymous Coward
User ID: 62939630
Canada
01/17/2020 01:26 PM
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Re: Student debt is over $1.6 trillion and hardly anyone is paying down their loans
None of them had any intent on paying for them.

Especially in the States.
Hillary and the Obama government were constantly talking about forgiving student loans when the old bag of feces was president.
So kids took that as a sign to load up on student loans with no intent on paying them back.
Anonymous Coward
User ID: 77994583
United States
01/17/2020 01:29 PM
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Re: Student debt is over $1.6 trillion and hardly anyone is paying down their loans
Well you cant pay student loans earning minimum wage.

It isn't possible.
Anonymous Coward
User ID: 78298213
United States
01/17/2020 04:22 PM
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Re: Student debt is over $1.6 trillion and hardly anyone is paying down their loans
Can't afford to. They shipped any decent jobs out, and the few decent jobs they didn't ship our, they are bringing millions of foreigners in to work.

Student loans where designed as a trap, to force Americans into abject poverty.
 Quoting: Anonymous Coward 78344555


Can't afford to. They shipped any decent jobs out, and the few decent jobs they didn't ship our, they are bringing millions of foreigners in to work.

Student loans where designed as a trap, to force Americans into abject poverty.
 Quoting: Anonymous Coward 78344555


And suckers fell for the ploy. I didn't fall for it because I am not an idiot. People should pay for the mistakes they make.
 Quoting: wessonoil


You mean people should pay because they were deceived and lied to? Makes sense.
 Quoting: Anonymous Coward 77086513


Exactly. The interest and fees often exceed the payments, so why bother? The loan will be there until you die no matter what.

The loan gets cancelled when you do.
Anonymous Coward
User ID: 78298213
United States
01/17/2020 04:24 PM
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Re: Student debt is over $1.6 trillion and hardly anyone is paying down their loans
None of them had any intent on paying for them.

Especially in the States.
Hillary and the Obama government were constantly talking about forgiving student loans when the old bag of feces was president.
So kids took that as a sign to load up on student loans with no intent on paying them back.
 Quoting: Anonymous Coward 62939630


The schools encourage the loans and harp constantly about filling in your FAFSA and consulting with the financial aid office. It's just a way to make more money available short term so they can raise tuition.
Anonymous Coward
User ID: 78260226
Moldova
01/17/2020 04:25 PM
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Re: Student debt is over $1.6 trillion and hardly anyone is paying down their loans
Put them in prison if they wont pay.
 Quoting: Icey


FUCK BANKERS, eat shit.
uh
User ID: 48813111
United States
01/17/2020 04:26 PM
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Re: Student debt is over $1.6 trillion and hardly anyone is paying down their loans
Since the explosion of student debt following the Great Recession, annual repayment rates, or the amount of existing balances lowered, have been just 3%, Moody’s said. Just 51% of borrowers who took out loans from 2010-12 have made any progress at all in paying down their debt.

“While in the past, higher enrollment and rising tuition were the main drivers of growing student loan balances, more recently, slow repayments have become the primary driver,” Jody Shenn, senior analyst at Moody’s, and others said in the report. “Over the next few years, the combination of slow repayments and elevated, if no longer growing, levels of new borrowing will likely fuel further increases in outstanding debt.”

[link to www.cnbc.com (secure)]
 Quoting: Anonymous Coward 77673116


these THINGS HAVE DESTROYED MY LIFE...50 DEFAULT RATE...AT LEAST...CANNOT DECLARE BANKRUPTCY ON THEM.....WORSE THAN HAVING 'HERPES'...!
Anonymous Coward
User ID: 76025615
United States
01/17/2020 04:26 PM
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Re: Student debt is over $1.6 trillion and hardly anyone is paying down their loans
I'm sure the low wages will be helped by importing the h1b third world.

That what honest Trustworthy Trump is pushing to make America great again.


H1b the white collar worker's wages to shit and DACA the blue collar to lower that a livable wage but it's ok DACA amnesty Latinos live on welfare, sorry honkey and black man your no longer needed'cept to vote.
Lost in the snow

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United States
01/17/2020 04:28 PM
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Re: Student debt is over $1.6 trillion and hardly anyone is paying down their loans
Put them in prison if they wont pay.
 Quoting: Icey


If they financed a gender or woman studies degree they should be put in a state psychiatric hospital.
Anonymous Coward
User ID: 74287764
United States
01/17/2020 04:30 PM
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Re: Student debt is over $1.6 trillion and hardly anyone is paying down their loans
Why do you give a shit OP? Higher paying jobs means more taxes stolen from me. The government isn't even on the line for these loans.
Jake

User ID: 77849624
United States
01/17/2020 04:30 PM
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Re: Student debt is over $1.6 trillion and hardly anyone is paying down their loans
Why are schools and hospitals allowed to price gouge??

The prices we charge are ridiculous
Evil controls the ignorant... Climate change is a hoax so is the vax you have been fear-porned into compliance!

Definition Satan from the bible: Satan (Rev 12:7) exercising his subtle (indirect) impact on heathen governments (powers) – i.e. accomplishing his hellish agenda from "behind the scenes."
Anonymous Coward
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United States
01/17/2020 04:31 PM
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Re: Student debt is over $1.6 trillion and hardly anyone is paying down their loans
Put them in prison if they wont pay.
 Quoting: Icey

Many would take free housing and food over debt slavery and a shitty job. Life in debt is like being in prison.
Anonymous Coward
User ID: 78350120
United States
01/17/2020 04:33 PM
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Re: Student debt is over $1.6 trillion and hardly anyone is paying down their loans
But the democrats made college more affordable by allowing lenders to write the legislation. Of course they got some nice kick backs for championing making college more Affordable but those taking out the unforgivable loans are paying for that.
Anonymous Coward
User ID: 78331706
United Kingdom
01/17/2020 04:41 PM
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Re: Student debt is over $1.6 trillion and hardly anyone is paying down their loans
Can't afford to. They shipped any decent jobs out, and the few decent jobs they didn't ship our, they are bringing millions of foreigners in to work.

Student loans where designed as a trap, to force Americans into abject poverty.
 Quoting: Anonymous Coward 78344555


like





GLP