College kids are using student loans for wild spring break trips

[crimethink]

https://nypost.com/2017/03/08/college-kids-are-using-student-loans-for-wild-spring-break-trips/

Roughly 30 percent of US students will tap into their growing pile of college debt to pay for their weeklong frolic, a survey from LendEDU revealed.

That’s up from last year, when a separate survey, conducted by Google Consumer Surveys on behalf of Student Loan Hero, found that about 20 percent of students spent their loan cash on dining out, entertainment and spring breaks.

[singular_me]

gotta LOVE it... cannot make that stuff up... how money twists most social behaviors

[cheka.]

the best part is that we are paying for this crap -- see obomba's loan forgiveness at two large for-profits

[crimethink]

the best part is that we are paying for this crap -- see obomba's loan forgiveness at two large for-profits

Gold liberated me from student loans...literally. But I guess I should have waited, and just did the loan forgiveness, right?

[madfranks]

When I was in college one of my friends maxed out his loans one semester (thousands more than he needed), and ended up buying a new guitar setup with all the accessories (amps, effects processors, etc.), and ended up paying for his girlfriend's tuition because otherwise she couldn't afford to stay in school and would "have to break up." Anyway, after he paid for her tuition, she broke up with him anyway.

[Santa]

I recently read somewhere that team Obama used grant money funneled into a non-profit to pay for anti-Trump protesters.

[Dachsie]

"I recently read somewhere that team Obama used grant money funneled into a non-profit to pay for anti-Trump protesters. "

True news but very old news.

Non-profits are basically money laundering conduits - for drug money, human trafficking money, bribery pay-offs, and other various and sundry graft.

Many of the social helping programs of the government are just "welfare queen" governmental agencies on the take.

I am beginning to understand an ostensibly good helping program to help young people get education and training to help them gain a decent foothold in gainful employment has turned out to be more graft and corruption that helps several entities along the supply chain, including schools public and private. The lowest beneficiaries of this supply chain get easy quick money, lousy or useless education and training, no employment, and huge debt hanging over the rest of their lives.

I personally am beginning to see that the student loan program is not much different than what our government/central banksters cyclically do -- give subprime mortgages to non-qualified people who end up tossed out on the street with ruination of their credit record. Many of these sub-prime people had a breadwinner who was making good money employed in an industry such as construction that is heavily impacted by fluctuations in the economy.

These kinds of loans are "wham bam, thank you mam", the lenders and beneficiaries in the chain get their money right off and the students never get the decent job they were convinced to make them think they would have no problem paying the loan.

I think the imminent collapse of the economy is a fact and people ought to stop paying on their student loans and stop worrying about their credit rating and if it looks for sure like their neighborhood has lots of foreclosures, they ought to stop paying their mortgages and stay put in their houses for a year or a year and a half or however long they can .

For them, and many and more middle class Americans, it will soon be just about stayin alive, so rip off the banksters as much as you still can and hold on to what little money you may have.

[crimethink]

FDSLs more commonly known as Stafford Loans are not earmarked. Again: they are not earmarked. If you are "in school," you can borrow the maximum possible for your academic level, and it's yours to spend. It's only supposed to be used for school. You may very well have all your expenses covered for tuition, fees, books, room & board and even other "non-essential" things, and can still borrow thousands per term, and then blow it anyway you like. No credit check or co-signer required, either!

Undergrads: $5,500 to $12,500 per year in Direct Subsidized Loans and Direct Unsubsidized (Stafford) Loans depending on certain factors, including your year in college.

Grads: Up to $20,500 each year in Direct Unsubsidized Loans.

https://studentaid.ed.gov/sa/types/loans#borrowing-limit


Subsidized means the Federal regime covers the interest charges paid to the banksters while you are in school.

Perkins Loans are much more strict, and dependent upon real financial need.

See below why this insanity is permitted.

[crimethink]

Non-profits are basically money laundering conduits - for drug money, human trafficking money, bribery pay-offs, and other various and sundry graft.


Understatement of the Day!

If you have no morals, setting up a "non-profit" "charity" is guaranteed cushy lifestyle for you and many family & friends. Give some speeches, attend some fundraisers (complete with luxury food), and you're set with a 5 or even 6 figure annual salary.

The worst offenses are the little, unknown "charities," but the huge "charities," with very minor exceptions, are almost as bad.




I personally am beginning to see that the student loan program is not much different than what our government/central banksters cyclically do -- give subprime mortgages to non-qualified people who end up tossed out on the street with ruination of their credit record. Many of these sub-prime people had a breadwinner who was making good money employed in an industry such as construction that is heavily impacted by fluctuations in the economy.

These kinds of loans are "wham bam, thank you mam", the lenders and beneficiaries in the chain get their money right off and the students never get the decent job they were convinced to make them think they would have no problem paying the loan.


Student loans are not intended to benefit students. They are intended to benefit the banksters, who "loan" "money" they did not earn and receive huge rewards (interest and fees) for work they did not do. Since the loans are guaranteed by the US Government, the interest should be going to the US Treasury, but, instead, in capitalist style, they go to the "free market solution," instead. The banksters do literally nothing, risk nothing, to reap massive rewards.




I think the imminent collapse of the economy is a fact and people ought to stop paying on their student loans and stop worrying about their credit rating and if it looks for sure like their neighborhood has lots of foreclosures, they ought to stop paying their mortgages and stay put in their houses for a year or a year and a half or however long they can .

For them, and many and more middle class Americans, it will soon be just about stayin alive, so rip off the banksters as much as you still can and hold on to what little money you may have.

Many Judeo-"Christians" * teach that bankruptcy and default are "sins." On the contrary, bankruptcy laws were originally based upon the commandments of Yahweh:

At the end of every seven years you must cancel debts. This is how it is to be done: Every creditor shall cancel the loan he has made to his neighbor. He shall not require payment from his neighbor or brother, because Yahweh’s time for canceling debts has been proclaimed.

Deuteronomy 15:1-2

The Catholic church taught that usury was demonic for most of its existence, but then, when the money powers enthralled the Popes, and, the Popes themselves realized banksterism was good income, the teachings were "forgotten."

I advocate that anyone who is unable to repay and/or is facing immoral usury (anything over 10% simple interest) should default, and, if necessary, file Chapter 7, and not feel guilty about it.

Banks are machines.

One does not have to keep promises to machines.

Anyone who teaches otherwise is a tool of the Mystery Babylon System. Like this abomination:

* https://www.gotquestions.org/bankruptcy.html

[madfranks]

^^ One of the best posts on this board in a long time.