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The CBO projects that the government will clear over $170 billion off of student loan profits in the next 10 years.

All while students are taking on more in debt than ever before, and colleges are driving up prices, knowing that the vast majority of loans - no matter how large - are approved.

The whole thing sucks.
 
Thing1 said:
The CBO projects that the government will clear over $170 billion off of student loan profits in the next 10 years.

All while students are taking on more in debt than ever before, and colleges are driving up prices, knowing that the vast majority of loans - no matter how large - are approved.

The whole thing sucks.
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But the goal is that everyone should go to college, right? Premise behind 'Common Core.' Actually this is one area that I could go along with 'blame Bush' and oh yeah, Ted Kennedy.
 
Amen Annie. Lay-people need to learn more about 'common core' ... where it came from and where it inevitably will lead. And I could go on about this 'everyone has to go to college' nonsense. :(
 
Don't bother noting that tuitions have been increasing faster than inflation, the actual cause of the problem.
 
I think everyone should get some post secondary education/training. A HS diploma isn't worth the paper it's printed on anymore.

I think that perhaps teaching to the test required by NCLB and Guidance Counselors who are just a little too comfy is the problem. EVERY STUDENT has a talent, an ability.

Instead of teaching to standardized tests, we ought to be cultivating the talents that lie dormant in our children. People make a very good living as electricians, plumbers, HVAC technicians and Welders.

One thing that I never thought of until my stepson wanted to major in it was Forestry. You cam make a killing if you are a Forest specialist who goes around and basically marks appropriate trees for harvesting....you get a salary and 10% of what the landowner makes from the yield....if the landowner wants.it clear cut to make pasture...that's a lot of money....even with controlled harvesting...where you only take out the trees that are making your plot of woodland less than thriving....it's usually enough foe the landowner to pocket some serious.money and the surveyor a nice paycheck.,
 
Thing1 said:
The CBO projects that the government will clear over $170 billion off of student loan profits in the next 10 years.

All while students are taking on more in debt than ever before, and colleges are driving up prices, knowing that the vast majority of loans - no matter how large - are approved.

The whole thing sucks.
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is that a typo?.....even at $17b a year it sounds extraordinary for a profit....it even outpaces the auto industry......give us a link....I'm wondering if that isn't total receipts.....
 
Steelplate said:
...it's usually enough foe the landowner to pocket some serious.money
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true.....last year I had a client clear a route for a new driveway back to their home because they had sold a lakefront lot that the previous drive crossed.....they got over $10k from the company that came in and clearcut the route...
 
PostmodernProphet said:
true.....last year I had a client clear a route for a new driveway back to their home because they had sold a lakefront lot that the previous drive crossed.....they got over $10k from the company that came in and clearcut the route...
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That means the guy that selected and marked the Trees for.removal got about $1k plus his hourly rate.

One.might think it's easy money...but you have to.know your shit about dendrology and Silviculture
 
Steelplate said:
That means the guy that selected and marked the Trees for.removal got about $1k plus his hourly rate.

One.might think it's easy money...but you have to.know your shit about dendrology and Silviculture
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actually no.....the route was determined by topography not by the trees and it was a clearcut.....you don't need anyone to choose between two trees when both are being cut down.......
 
PostmodernProphet said:
actually no.....the route was determined by topography not by the trees and it was a clearcut.....you don't need anyone to choose between two trees when both are being cut down.......
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So....someone clearcut a whole patch of.woods for a driveway? Sorry, I am not sure you know what you're talking about. If the landowner wanted the best outcome for the trees that remained, he most certainly would employ the methods taught at reputable schools.?
 
It is actually good to see this thread skew completely off topic, since the premise of the OP was so fucked to begin with.
 
weird how they worship profit but hate it when government profits because there is no CEO to collect those profits.

Its makes no sense.


They have always said the private sector does it better because of the profit motive.

Yet they don't think their theory works in practice.
 
leaningright said:
And I could go on about this 'everyone has to go to college' nonsense. :(
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Yeah, I agree with that. Some people are just better suited for vocational training - and we need the skills that they bring to the workforce. But making college this much of a financial burden isn't putting people where they need to be. It needs to be a comprehensive analysis of the student upon high school graduation.
 
Rune said:
It is actually good to see this thread skew completely off topic, since the premise of the OP was so fucked to begin with.
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Aw, are you mad about the IPCC thread?

Rune - the government shouldn't be making a PROFIT when young Americans are buckling under crushing debt. And, as I mentioned, the ease of huge loans is enabling colleges to raise tuitions without reprucussions.

You're a complete idiot, btw.
 
evince said:
weird how they worship profit but hate it when government profits because there is no CEO to collect those profits.

Its makes no sense.


They have always said the private sector does it better because of the profit motive.

Yet they don't think their theory works in practice.
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I'm surprised you commented, since this doesn't have a racial element.

But the gov't should not be profiting on the backs of young Americans.
 
There are certain things that PROFIT should not be a party of huh.

This is one of them.

healthcare is too
 
evince said:
then how the FUCK can you claim that government should operate MORE like business does?
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And when have I done that?

Desh - you should be pissed about this. A whole generation of kids is getting crushed under the weight of incomprehensible loans, and our gov't is making a huge profit from it.

What's the matter with you? Do they need to be minorities for this to make sense to you?
 
About that $170 billion, I'm assuming that was before the bill Obama signed in August and was operating under the assumption that student loan interest rates would double in July and stay that way, no?

The math on this is pretty straightforward. The US government borrows money at X% interest and lends money to students at Y% interest. Currently, the interest rate the government pays is pretty low, 2.87% (on the 10 year) and as of July student loan interest rates were set to increase to 6.8%. There's your profit.

The bill that recently passed pegs student loan interest to Treasury rates, which is a better approach.
 
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