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Old 11-13-2012, 02:37 PM   #61
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I'd rather everyone have the opportunity to go to school if they wish, not have the government decide who is and is not worthy of pursuing higher education.
via variable interest rates?
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Old 11-13-2012, 02:40 PM   #62
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Logical choice for me right now would be to go to law school...but with the idea of debt vs job prospects (especially law) I've been seriously reconsidering it for a while now..law school debt is scary.
you just failed right there
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Fill that hole in your soul by buying more material goods
http://forum.e46fanatics.com/showthread.php?p=15286051
buy my sedan rear seats (gray leather)

sell me sedan A pillars!! (black fabric)
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Old 11-13-2012, 03:11 PM   #63
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go to a cal state and i get tuition paid for (dad is war veteran) but im not sure if it will carry over for grad school. i get any us and cal state for free, unfortunately its looking like usc or LMU that offer my major. so hopefully i dont need to take out any more loans. but yes... NEXT BUBBLE!
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Old 11-13-2012, 03:14 PM   #64
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Perhaps America's education system needs a reboot. Agree with what others said above, tuition is ridiculous these days if you want to go to a decent school.
Agreed!
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Old 11-13-2012, 03:15 PM   #65
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go to a cal state and i get tuition paid for (dad is war veteran) but im not sure if it will carry over for grad school. i get any us and cal state for free, unfortunately its looking like usc or LMU that offer my major. so hopefully i dont need to take out any more loans. but yes... NEXT BUBBLE!
My cousin went to LMU and played ball there. Good choice!
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Old 11-13-2012, 03:32 PM   #66
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I'd rather everyone have the opportunity to go to school if they wish, not have the government decide who is and is not worthy of pursuing higher education.
Then you have the situation we are in.
The problem is that when you ask oneself to decide if oneself is worthy of being invested in, guess what the outcome is.

I'm not saying the government must make that decision. Just that the government has to pass that legislation to allow someone unbiased and without vested interest to make that determination. It could be based on a combination of high school grades and aptitude tests.
Just because someone is very smart it doesn't necessarily mean that he/she will succeed in engineering or medical school, for example. Conversely, I'm a graduated engineer, but if I wanted to drop everything and take a loan to pursue a career in music, someone should probably commit me to a mental institution or shoot me, and not just deny my loan. I'm sure I could get that loan in today's environment, and fail and pass that debt to society.
This would be the equivalent of an appraisal before approving a mortgage loan. There is no appraisal for individual fit for taking up a loan that can possibly impact one's entire life. Why?
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Old 11-13-2012, 03:38 PM   #67
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you just failed right there
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Old 11-13-2012, 03:38 PM   #68
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when you guys say the next bubble bursting what do you mean will happen? How will it affect the average person? It's probably a stupid question.
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Old 11-13-2012, 03:39 PM   #69
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Then you have the situation we are in.
The problem is that when you ask oneself to decide if oneself is worthy of being invested in, guess what the outcome is.

I'm not saying the government must make that decision. Just that the government has to pass that legislation to allow someone unbiased and without vested interest to make that determination. It could be based on a combination of high school grades and aptitude tests.
Just because someone is very smart it doesn't necessarily mean that he/she will succeed in engineering or medical school, for example. Conversely, I'm a graduated engineer, but if I wanted to drop everything and take a loan to pursue a career in music, someone should probably commit me to a mental institution or shoot me, and not just deny my loan. I'm sure I could get that loan in today's environment, and fail and pass that debt to society.
This would be the equivalent of an appraisal before approving a mortgage loan. There is no appraisal for individual fit for taking up a loan that can possibly impact one's entire life. Why?
There are two parts here that should be unpacked.

The appraisal which is the evaluation of the product i.e. the education, accredited and a valuable degree.

The borrower's ability, past performance, grades, referrals, etc.

You should be able to get a loan for music, but just at a higher interest rate.
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Old 11-13-2012, 03:42 PM   #70
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when you guys say the next bubble bursting what do you mean will happen? How will it affect the average person? It's probably a stupid question.
The banks are holding paper that says they have XXX billions in assets. If legislation forces them to take a haircut or if suddenly the default rate skyrockets, banks (or federal government) will take a huge hit on the books leading to reduction of jobs, decrease in stock market, etc.

Basically, the banks or loan holders will experience massive loss of assets. People who work for the banks will be fired, let go.
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Old 11-13-2012, 04:47 PM   #71
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There are two parts here that should be unpacked.

The appraisal which is the evaluation of the product i.e. the education, accredited and a valuable degree.

The borrower's ability, past performance, grades, referrals, etc.

You should be able to get a loan for music, but just at a higher interest rate.
I meant the appraisal should be made on the borrower, based on his/her background, grades, aptitude test and compatibility for the education being sought.
Basically an evaluation of how risky the loan is.
I personally don't oppose a variable loan rate based on that risk, just like they do on auto insurance.
I never understood why housing and health can't differentiate (or, discriminate, as the politically correct crowd would say) but the auto insurance industry can basically do whatever they want.
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Old 11-13-2012, 04:49 PM   #72
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The banks are holding paper that says they have XXX billions in assets. If legislation forces them to take a haircut or if suddenly the default rate skyrockets, banks (or federal government) will take a huge hit on the books leading to reduction of jobs, decrease in stock market, etc.

Basically, the banks or loan holders will experience massive loss of assets. People who work for the banks will be fired, let go.
Thanks brosef
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Old 11-13-2012, 04:50 PM   #73
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I meant the appraisal should be made on the borrower, based on his/her background, grades, aptitude test and compatibility for the education being sought.
Basically an evaluation of how risky the loan is.
I personally don't oppose a variable loan rate based on that risk, just like they do on auto insurance.
I never understood why housing can't differentiate (or, discriminate, as the politically correct crowd would say) but the auto insurance industry can.
Well, the market normally would differentiate, but fed backing artificially lowered the rate thus increasing supply
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Old 11-13-2012, 04:53 PM   #74
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Well, the market normally would differentiate, but fed backing artificially lowered the rate thus increasing supply
And how would the private sector have differentiated a borrower?
What did they use to evaluate the risk of an education loan before the feds got involved?
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Old 11-13-2012, 05:02 PM   #75
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And how would the private sector have differentiated a borrower?
What did they use to evaluate the risk of an education loan before the feds got involved?
The fed became involved in 1958. Prior to this, it was mostly college scholarships based on merit.

From Wikipedia.
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Old 11-13-2012, 06:23 PM   #76
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Originally Posted by Master Po View Post
I meant the appraisal should be made on the borrower, based on his/her background, grades, aptitude test and compatibility for the education being sought.
Basically an evaluation of how risky the loan is.
I personally don't oppose a variable loan rate based on that risk, just like they do on auto insurance.
I never understood why housing and health can't differentiate (or, discriminate, as the politically correct crowd would say) but the auto insurance industry can basically do whatever they want.



I agree with you.

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Old 11-13-2012, 07:42 PM   #77
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Are you using cocaine? Or maybe crank?

That's extremely cheap.
Can i have what you are smoking?

20,000 a year is not cheap. X 4 thats 80 grand for a bachelors. Lucky for me, i commute so i save **** tons of money on room and board.
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Old 11-13-2012, 07:57 PM   #78
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The fed became involved in 1958. Prior to this, it was mostly college scholarships based on merit.

From Wikipedia.
Yup, just one more thing the gov't fvcked up. They increased demand, which lead to a decreased supply, that ultimately lead to increased cost and the diminished value of a college education. They did the same thing to the housing market, and health care is next on their list.

The sooner people figure out that gov't is not the answer to their problems, the better off we will be.

We need more trade skills in this country...it's no wonder why mfg is going overseas...you can't build sh1t with a gender study degree.
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Old 11-13-2012, 08:02 PM   #79
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Can i have what you are smoking?

20,000 a year is not cheap. X 4 thats 80 grand for a bachelors. Lucky for me, i commute so i save **** tons of money on room and board.
It's cheap compared to grad school. However, it's expensive enough that you better think about what you major in. A lot of majors really should be cut drastically, if not entirely as they're essentially useless/have too much supply for jobs.
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Old 11-13-2012, 08:34 PM   #80
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Pitt University is 14,000 per year minus room and board for Engineering.

School is ridiculously expensive.
Buddy out here got his Ph.D in IE from Pitt, now works at the CDC doing HIV/AIDS research.

Funny thing is, he was on scholarships the whole ride.
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