the real estate bubble burst, and most experts say the student loan bubble will be next

the real estate bubble burst, and most experts say the student loan bubble will be next

Joined: April 28th, 2010, 12:23 am

June 4th, 2012, 3:19 pm #1

Reason being? Simple..you cant have a nation of overeducated 24 yr olds with 100k in loans and no way to pay them off.only hard sciences really gaurentee a job here in the financial mecca, engineering, medicine and I.T.. thats it..all other non specific degrees are worthless here without 5 yrs experience on your resume..so were i to start over, no college for me..id get a city union job, make 100k for doin nothing from 6 to 2 pm, and just relax..my friend kevin is in the steamfitters union, 59 bux an hr, overtime, not one college credit..not a care in the world, and if he does have any, its not about money or student loans.


<span style="font-family:Verdana;font-size:14px;font-style:italic;font-weight:bold;text-decoration:underline;text-transform:none;color:#000000;">"i never was much for book learnin"</span>
Last edited by robnewyork on June 4th, 2012, 3:20 pm, edited 1 time in total.
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Joined: January 6th, 2006, 3:27 am

June 4th, 2012, 3:40 pm #2


Go to a Trade School and learn a REAL SKILL that can be used in the marketplace:

When someone wants their Air Conditioning system fixed, you don't show up with a Masters in Sociology!

Hal
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Joined: February 9th, 2001, 1:40 am

June 4th, 2012, 3:50 pm #3

Reason being? Simple..you cant have a nation of overeducated 24 yr olds with 100k in loans and no way to pay them off.only hard sciences really gaurentee a job here in the financial mecca, engineering, medicine and I.T.. thats it..all other non specific degrees are worthless here without 5 yrs experience on your resume..so were i to start over, no college for me..id get a city union job, make 100k for doin nothing from 6 to 2 pm, and just relax..my friend kevin is in the steamfitters union, 59 bux an hr, overtime, not one college credit..not a care in the world, and if he does have any, its not about money or student loans.


<span style="font-family:Verdana;font-size:14px;font-style:italic;font-weight:bold;text-decoration:underline;text-transform:none;color:#000000;">"i never was much for book learnin"</span>
My family has several rules of money but they all boil down to one rule which I'll touch on later.

A house mortgage should not cost you more than one week worth of your monthly income or you really cannot afford it.

You should never buy more car than you can pay off in two years for the same reasons but also because depreciation figures into the equation.

And now for the golden rule:

Always always ALWAYS pay yourself first.

Harv
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Joined: April 28th, 2010, 12:23 am

June 4th, 2012, 4:04 pm #4

Go to a Trade School and learn a REAL SKILL that can be used in the marketplace:

When someone wants their Air Conditioning system fixed, you don't show up with a Masters in Sociology!

Hal
And serving tables isnt fun.


<span style="font-family:Verdana;font-size:14px;font-style:italic;font-weight:bold;text-decoration:underline;text-transform:none;color:#000000;">"i never was much for book learnin"</span>
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Joined: January 6th, 2006, 3:27 am

June 4th, 2012, 4:09 pm #5


...NO STUDENT LOAN!

Hal
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Joined: January 6th, 2006, 3:27 am

June 4th, 2012, 4:16 pm #6

My family has several rules of money but they all boil down to one rule which I'll touch on later.

A house mortgage should not cost you more than one week worth of your monthly income or you really cannot afford it.

You should never buy more car than you can pay off in two years for the same reasons but also because depreciation figures into the equation.

And now for the golden rule:

Always always ALWAYS pay yourself first.

Harv
My monthly Mortgage is only 19 percent of my NET retirement income.

In March, I bought a new 2012 Mazda3 5-door Touring Hatchback, and paid it off before I drove it home!

Wife has her own business too...I just do whatever I wish all day!

Hal




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Joined: June 7th, 2010, 12:14 am

June 4th, 2012, 4:43 pm #7

The under employed educated students, or the pipe fitters? or both?

I would guess that 90% of interest payments are made by those least positioned to afford them. (like our nation's gov)
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Joined: April 28th, 2010, 12:23 am

June 4th, 2012, 4:51 pm #8

Most loans are generally carried by those lacking resourses.rich ppl dont need to borrow .


<span style="font-family:Verdana;font-size:14px;font-style:italic;font-weight:bold;text-decoration:underline;text-transform:none;color:#000000;">"i never was much for book learnin"</span>
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Joined: February 9th, 2001, 1:40 am

June 4th, 2012, 5:00 pm #9

He's paid into Soc sec his entire adult life.

Now if you said he's taking more than he's put in, we'd have something to discuss.

Harv
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Joined: January 6th, 2006, 3:27 am

June 4th, 2012, 5:03 pm #10


Howl
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