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We are a commune of inquiring, skeptical, politically centrist, capitalist, anglophile, traditionalist New England Yankee humans, humanoids, and animals with many interests beyond and above politics. Each of us has had a high-school education (or GED), but all had ADD so didn't pay attention very well, especially the dogs. Each one of us does "try my best to be just like I am," and none of us enjoys working for others, including for Maggie, from whom we receive neither a nickel nor a dime. Freedom from nags, cranks, government, do-gooders, control-freaks and idiots is all that we ask for.

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Thursday, December 8. 2011

No, They Can't Renege on Student Debt

They won't - and they dare not, because it blows their credit rating. No, They Can't Renege on Student Debt.


One must be very careful and calculating about taking on debt, whether for school or anything else. I have seen many lives crushed by unnecessary debt.

Posted by The Barrister in Hot News & Misc. Short Subjects at 13:30 | Comments (7) | Trackbacks (0)

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My house is worth less than when I bought it, and now I'm uncomfortable with it, so can I renege on that? Surely I have the 'right' to a free roof over my head as much as they have a 'right' to a free education?
#1 Bulldog on 2011-12-08 17:54 (Reply)
Same with my car. I'm underwater with my car!

Sheesh. I sound like Ted Kennedy.
#1.1 Bird Dog on 2011-12-08 18:26 (Reply)
..only if you blame the car, the water, the cops and the corpse for it.
#1.1.1 buddy larsen on 2011-12-09 09:11 (Reply)
Not to be serious but, 20 somethings could give a s**t about credit ratings and how the "man" intends to collect. They know that the boomers stole their inheritance and they have no intention of paying back their debt. Yeah, maybe the Brown and yale grads have good intentions. Take a look at all the liberal art majors from BU, BC, Northeast, etc... they don't stand a chance of re-paying.

Boomers are screwed in their retirement. Guaranteed income whether from houses, student loans or sovereign debt is a thing of the past.
#2 rbm411 on 2011-12-08 20:03 (Reply)
You seem to overlook the obvious:
When debt wrecks enough lives, a populist politician will propose either forgiving all debts or government payment thereof.
A people trained to get everything for nothing (example: World Wide Web) will act accordingly.
Still think those Biblical principles are outmoded?
#3 PacRim Jim (Link) on 2011-12-08 23:47 (Reply)
...they are coming back to life --with a vengeance.
#3.1 buddy larsen on 2011-12-09 09:15 (Reply)
The author neglects to note the primary driver of increasing higher education costs: if you pay for higher costs (through taxpayer subsidized and guaranteed student loans) you will get higher costs. You always get what you pay for.
#4 Bill Quick (Link) on 2011-12-09 00:49 (Reply)

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