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Adam Carolla
Joined: 26 Feb 2010
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 Posted: Sat Oct 16, 2010 7:04 pm Post subject: |
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| mises wrote: |
| Steelrails wrote: |
Instead of forgiving loans, we should raise the age of adulthood to 24. |
We should criminalize urusry. |
Whoa, slow down there. Some of us are planning on becoming usurers. |
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Died By Bear
Joined: 13 Jul 2010
Location: On the big lake they call Gitche Gumee
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| Posted: Sun Oct 17, 2010 4:52 pm Post subject: |
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Just heard a piece on NPR about how the united statos of Amexica is going to move toward student loans being worked into our federal income tax, like some other countries do now - I think I heard him say something about how Australia does it.
OTOH, I searched for the article at NPR.com and found nothing to link, sorry.
Here's something to pass the time away while you're on the can if you have a laptop.
http://www.collegescholarships.org/research/student-loans/ |
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The Happy Warrior
Joined: 10 Feb 2010
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LOfromMO
Joined: 21 Oct 2010
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| Posted: Mon Oct 25, 2010 3:57 pm Post subject: |
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I hope your ethics and morals in the classroom are better than in your real life.
With that said, I wonder if the Korean school boards monitor these blogs?
Maybe they would be able to answer your question. |
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allovertheplace
Joined: 02 Aug 2009
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| Posted: Tue Oct 26, 2010 7:29 pm Post subject: |
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| since when was an economic decision based upon morality? |
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Fox
Joined: 04 Mar 2009
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| Posted: Tue Oct 26, 2010 8:23 pm Post subject: |
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The top comment (as of this moment) in Warrior's link reminds me of something earlier in the conversation:
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| When I got my student loans I had to go before a counselor who told me most the above. It was made very clear that student loans cannot be written off in bankruptcy and that if I default I will destroy my credit and not be able to get another loan to go back to school. One thing that no one ever mentioned was that if you default on your student loan, your chances of getting a job with a company that checks credit is slim to none. My husband, who got a full ride to an ivy league law school took out loans to live on, did not get a job right out of law school, defaulted while studying for the bar and was told he would not be able to sit for the bar exam until he cleaned up his credit. So the $100,000 law degree was useless. |
I believe it was Steelrails who suggested the idea of degrees being confiscated for those who default on their loans. While the actual paper might not be, it's clear that in many cases one's potential to find work is in fact "confiscated" in a sense if one defaults.
Credit checks as part of the employment process should probably be illegalized. Credit checks as part of the employment process create a self-reinforcing cycle of marginalization, wherein those who lose their jobs or are unemployed are far more likely to end up with bad credit, and those with bad credit have a much harder time finding employment. This practice leads to social problems without having any real corresponding social upside, and as much as people like the pro-corporate goons at the Chamber of Commerce want to make this process out to be nuanced and reasonable, it simply isn't. |
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Died By Bear
Joined: 13 Jul 2010
Location: On the big lake they call Gitche Gumee
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| Posted: Sat Oct 30, 2010 2:38 pm Post subject: |
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Let's say for argument's sake, that I've been playing devil's advocate all along and that my parents paid for my education. 
Assuming that I wanted to see if there was any truth to the rumors, and the countless times I've heard this subject come up since 2006 in Korea, and so I kept the thread going.
But the real truth is, if you owe the government - there's ONLY ONE way out. And we all know how that old saying goes (death and taxes). No need to repeat it.  |
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Stan Rogers
Joined: 20 Aug 2010
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| Posted: Sat Oct 30, 2010 4:47 pm Post subject: |
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| Fox wrote: |
The top comment (as of this moment) in Warrior's link reminds me of something earlier in the conversation:
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| When I got my student loans I had to go before a counselor who told me most the above. It was made very clear that student loans cannot be written off in bankruptcy and that if I default I will destroy my credit and not be able to get another loan to go back to school. One thing that no one ever mentioned was that if you default on your student loan, your chances of getting a job with a company that checks credit is slim to none. My husband, who got a full ride to an ivy league law school took out loans to live on, did not get a job right out of law school, defaulted while studying for the bar and was told he would not be able to sit for the bar exam until he cleaned up his credit. So the $100,000 law degree was useless. |
I believe it was Steelrails who suggested the idea of degrees being confiscated for those who default on their loans. While the actual paper might not be, it's clear that in many cases one's potential to find work is in fact "confiscated" in a sense if one defaults.
Credit checks as part of the employment process should probably be illegalized. Credit checks as part of the employment process create a self-reinforcing cycle of marginalization, wherein those who lose their jobs or are unemployed are far more likely to end up with bad credit, and those with bad credit have a much harder time finding employment. This practice leads to social problems without having any real corresponding social upside, and as much as people like the pro-corporate goons at the Chamber of Commerce want to make this process out to be nuanced and reasonable, it simply isn't. |
I agree with you. Connecting credit checks to the emplyment process is wrong. It's the same as being turned down for a job because you have a criminal record for being in debtors prison.
Problem is many employers will continue to do it anyway until it's outlawed. |
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Stan Rogers
Joined: 20 Aug 2010
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| Posted: Sat Oct 30, 2010 5:00 pm Post subject: |
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I've known a lot of people in Korea who felt they had no choice but to flee from their debts back home. I feel sorry for a lot of these people. So many of them seem to feel like they have been exiled from their homeland with no hope of ever returning.
Kind of sad really. |
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dory
Joined: 27 May 2010
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| Posted: Wed Dec 01, 2010 11:12 pm Post subject: |
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| kardisa wrote: |
| NYC_Gal wrote: |
| mises wrote: |
| Look, the ethics about this are clear. Poor people must pay their debts. It is a moral imperative. Rich people can do what they please. If they don't pay their debts it is a business decision. Poor people must not emulate rich people, or the result will be anarchy. |
Perhaps poor people shouldn't take out student loans in the first place. If one wants an education, there are plenty of programs for the poor at local, public colleges. If one truly doesn't have money, they qualify for partial tuition, and these schools cost a few thousand a year even without the help.
It is very doable with a full time job and some hard work. |
NYC_Gal: I've been following this thread since the beginning, and I have to admit, you've made some valid points throughout. HOWEVER, this is not one of them. |
Neither is this:
| NYC_Gal wrote: |
| brickabrack wrote: |
| NYC_Gal wrote: |
| Ah, of course, but I'm talking about modern ethnicities from all over the world. SP kept calling me white, when I'm not. |
What is 'white'? |
http://en.wikipedia.org/wiki/Caucasian_race |
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NYC_Gal
Joined: 08 Dec 2009
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canoe_jesuit
Joined: 22 Nov 2008
Location: seoul
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| Posted: Sun Dec 05, 2010 5:23 pm Post subject: my plan |
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In Canada...
here's what i did. i happened to be seeing a shrink.. he wrote me a letter saying i had serious stress due to issues. I submitted this document to my bank, who granted me my $7000 school loan. I never heard from them again, and the government of canada paid my bill.
Of course, i grew up in the beverly hills of canada, so i'm sure my postal code had a lot to do with it getting paid without 1 phone call or letter - my folks having paid more than 1 million in tax. May not work for a commoner (joke). but serious, it may not work for folks in middle class and fringe middle class areas. not sure. |
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Died By Bear
Joined: 13 Jul 2010
Location: On the big lake they call Gitche Gumee
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Depths of My Soul
Joined: 04 Apr 2010
Location: In The Sun
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| Posted: Fri Dec 31, 2010 1:07 pm Post subject: Re: Student loan forgiveness? |
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| thomas pars wrote: |
I've heard of this strategy by a few people living here. They've let their
student loans go into default. The loan gets bought for pennies on the
dollar by a collection agency. After a while the collection agency will take
whatever they can get for the loan. Often 50-70% of the value of the loan.
So for example a $22,000 loan gets bought for $7,500.
Apparently living overseas deters the creditors from pursuing it much.
I am sure they would probably bug your parents. And of course your credit would take a hit.
But if you've planned to make Korea your home, is this a viable solution?
I'm not interested in any moralistic lessons. So let's limit the
"you borrowed it you should repay it" replies.
Getting a 50-70% reduction on your student
loans for the sake of a bad credit report for a few years sounds like a good
trade no? |
Listen up. Here's a moralistic reply of a different variety;
When I found out that the cost of just 1 measly cruise missile ran way above $500,000, it kind of put my loan into perspective.
I'm not paying mine back in protest.
Don't hit that farm or school in my name, and instead wipe out my (and hundreds of other poor people's) loan instead please Mr Government. Thanks. |
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mises
Joined: 05 Nov 2007
Location: retired
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| Posted: Fri Dec 31, 2010 1:54 pm Post subject: Re: Student loan forgiveness? |
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| Depths of My Soul wrote: |
When I found out that the cost of just 1 measly cruise missile ran way above $500,000, it kind of put my loan into perspective.
I'm not paying mine back in protest.
Don't hit that farm or school in my name, and instead wipe out my (and hundreds of other poor people's) loan instead please Mr Government. Thanks. |
Excellent.
Every single mortgage could have been wiped clean for less than the banks were bailed out for.
We are nothing more than interest producing entities, in the eyes of governments and their banker masters. Not paying back is an excellent way to protest the unjust system, regardless of which country you are from. |
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