Mark Cuban: Limit student loans to improve economy
- Thread starter Bunchy Carter
- Start date
What would you qualify as a student debt crisis
theworldismine13
God Emperor of SOHH
the same that would qualify as a mortgage crisis, a crisis would be if too many people started defaulting on their loans, there is no sign of that
theworldismine13
God Emperor of SOHH
The Myth of the Student-Loan Crisis
http://www.theatlantic.com/magazine/archive/2013/03/myth-student-loan-crisis/309231/
http://www.theatlantic.com/magazine/archive/2013/03/myth-student-loan-crisis/309231/
godkiller
"We are the Fury"
Thanks for this article.
Field Marshall Bradley
Veteran
Technically there isn't a crisis yet, but there will be in the next 10-15 years.......Belee Dat
theworldismine13
God Emperor of SOHH
no there wont, if it was private student loans maybe, but the fact that almost all student loans are from the government means students will always have very flexible payback options
Tuition & room & board should be free at all State school's.
ltheghost
Payin Debts.... N40
The crisis won't hit until 2019, but we will be in another war by then so the government will have "options" for forgiving the debts by then.
Field Marshall Bradley
Veteran
They lost credibility when they did away with bankruptcy protection. Second, just because payments can be adjusted doesn't mean the debt isn't compounding at an absurd rate.
Furthermore, wages are stagnant, job growth is non existent, tuition costs outpacing inflation by 30% over the last 5 years with no end in sight. The only way the debt is forgiven is if you die, and yes, there are payment options, but Sallie Mae can decide to garnish your pay for whatever she deems fit if she feels like it.
theworldismine13
God Emperor of SOHH
nothing you have said would create a student debt crisis, and i already posted a link that addresses why its a myth
The Myth of the Student-Loan Crisis
http://www.theatlantic.com/magazine/archive/2013/03/myth-student-loan-crisis/309231/
Well, student loan default rates are at about 14% on average, a slight decline from ~15% last year, but still increasing long after we got out of the recession
http://www.usnews.com/news/articles...creases-but-some-question-federal-free-passes
http://www.theatlantic.com/business...soaring-thanks-to-washingtons-neglect/280158/
At the absolute peak of the recession, mortgage default rates were a hair under 6%, and I would say at that time we were in a RE crisis
People defaulting on mortgages at rates of 6% was a crisis..... what would you call people defaulting on student loans at 2-3x that
theworldismine13
God Emperor of SOHH
Well, student loan default rates are at about 14% on average, a slight decline from ~15% last year, but still increasing long after we got out of the recession
http://www.usnews.com/news/articles...creases-but-some-question-federal-free-passes
http://www.theatlantic.com/business...soaring-thanks-to-washingtons-neglect/280158/
At the absolute peak of the recession, mortgage default rates were a hair under 6%, and I would say at that time we were in a RE crisis
People defaulting on mortgages at rates of 6% was a crisis..... what would you call people defaulting on student loans at 2-3x that
according to your link, if we reach the 20's like we did in the 80s there would be crisis
Well it tripled over the last decade.... how much higher are you willing to let it climb before you admit to it being a problemaccording to your link, if we reach the 20's like we did in the 80s there would be crisis
but hes rightI'll let the PhD's and experts give solutions