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The Water Cooler
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Just found this on yahoo. Student loan forgiveness
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<blockquote data-quote="Larry Morgan" data-source="post: 1645165" data-attributes="member: 4676"><p>This will happen soon. I and a few others at work were talking about it, and we all believe that student loans are the next bubble that's about to burst. I believe overly accessible student loans truly have artificially inflated tuition prices, much like overly accessible mortgages over inflated housing costs, until the bubble burst. Once the bubble on student loans goes, tuition prices will fall. Then, people will be able to work their way through college again (hopefully). Those who can't, however, will not be able to go.</p><p></p><p>It's a self feeding cycle. Why does tuition hike up so much every year? Simple, because the financial aid office makes it as easy as filling out a form or pushing a button to pay that tuition with money you don't have. Since it's so easy for everyone to go to college with borrowed money, now every employer and their dog requires a degree just to be looked at, making student feel the necessity to go.</p><p></p><p>I was lucky enough to go to a cheaper state school, get some scholarships, work part time, and have parents who busted their hump to help me with tuition. When the economy tanked, my parents weren't immune, and I had to take out bank loans (no mamby-pamby student loans) to pay tuition. In hindsight, those were probably better, because I couldn't drag them out for years and years after school, they had a fixed loan term.</p></blockquote><p></p>
[QUOTE="Larry Morgan, post: 1645165, member: 4676"] This will happen soon. I and a few others at work were talking about it, and we all believe that student loans are the next bubble that's about to burst. I believe overly accessible student loans truly have artificially inflated tuition prices, much like overly accessible mortgages over inflated housing costs, until the bubble burst. Once the bubble on student loans goes, tuition prices will fall. Then, people will be able to work their way through college again (hopefully). Those who can't, however, will not be able to go. It's a self feeding cycle. Why does tuition hike up so much every year? Simple, because the financial aid office makes it as easy as filling out a form or pushing a button to pay that tuition with money you don't have. Since it's so easy for everyone to go to college with borrowed money, now every employer and their dog requires a degree just to be looked at, making student feel the necessity to go. I was lucky enough to go to a cheaper state school, get some scholarships, work part time, and have parents who busted their hump to help me with tuition. When the economy tanked, my parents weren't immune, and I had to take out bank loans (no mamby-pamby student loans) to pay tuition. In hindsight, those were probably better, because I couldn't drag them out for years and years after school, they had a fixed loan term. [/QUOTE]
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Just found this on yahoo. Student loan forgiveness
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