Women Hold 2/3 of Student Loan Debt

[taiyuu_otoko]

What a surprise...

(and now the student loan crisis is a women's issue)

https://www.yahoo.com/news/women-hold-nearly-two-thirds-161932375.html

According to a depressing new report released this week by the American Association of University Women, women hold nearly two-thirds of this country’s student debt ― or a whopping $833 billion in outstanding loans. (And that’s probably a low-ball estimate, because the report doesn’t capture women who enroll and take on a whole lot of debt but don’t graduate.)

Oh, and female graduates also have a significantly harder time paying those loans off ― making it clear that the student loan crisis is now most definitely a women’s issue.

 

[btownbuck2012]

Damn, women just can't catch a break can they?

 

[Who Dares Win]

You mean that degree in sociology of art doesnt pay as much as it should?

 

[Von]

It's easy to explain.... University average population is 60% Women.

In Medicine, Law, Nursery... its goes up to 70%... its going up in Engineering too

Reality is higher education is massivelly women... and just going up in % (Iran has 70% female ratio in university)

So what will be the role of the male

PS: Manuel labour is lacking everywhere in our modern world

Also, default of payment on Student Loans and CAR loans are sky-rocketing.

It's a number game

 

[Bible_Belt]

There are rumors that the people who took certain lower-paying jobs in exchange for loan forgiveness are going to get screwed. The program started nine years ago. It's just about time for them to reach the point of loan forgiveness, but Congress might de-fund the program and stick them with their loans anyway.

 

[resilient]

 

[taiyuu_otoko]

Congress might de-fund the program and stick them with their loans anyway.

Or they might do something even better.....

H.R.2366 - Discharge Student Loans in Bankruptcy Act of 2017

115th CONGRESS
1st Session
H. R. 2366

To amend title 11 of the United States Code to make student loans dischargeable.

IN THE HOUSE OF REPRESENTATIVES
May 4, 2017
Mr. Delaney (for himself, Mr. Katko, Mr. Perlmutter, Mr. Lowenthal, Ms. Castor of Florida, Mr. Veasey, Mr. Tonko, Mrs. Dingell, Ms. Sinema, and Ms. Lofgren) introduced the following bill; which was referred to the Committee on the Judiciary

A BILL
To amend title 11 of the United States Code to make student loans dischargeable.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
SECTION 1. SHORT TITLE.

This Act may be cited as the “Discharge Student Loans in Bankruptcy Act of 2017”.

SEC. 2. EXCEPTION TO DISCHARGE.

Section 523(a) of title 11, United States Code, is amended—

(1) by striking paragraph (8); and

(2) by redesignating paragraphs (9) through (14B) as paragraphs (8) through (14A), respectively.

SEC. 3. CONFORMING AMENDMENTS.

Title 11, United States Code, is amended—

(1) in section 704(c)(1)(C)(iv)(I) by striking “(14A)” and inserting “(14)”;

(2) in section 1106(c)(1)(C)(iv)(I) by striking “(14A)” and inserting “(14)”;

(3) in section 1202(c)(1)(C)(iv)(I) by striking “(14A)” and inserting “(14)”; and

(4) in section 1328(a)(2) by striking “(8), or (9)” and inserting “or (8)”.

SEC. 4. EFFECTIVE DATE; APPLICATION OF AMENDMENTS.


(a) Effective Date.—Except as provided in subsection (b), this Act and the amendments made by this Act shall take effect on the date of the enactment of this Act.

(b) Application Of Amendments.—The amendments made by this Act shall apply only with respect to cases commenced under title 11 of the United States Code on or after the date of the enactment of this Act.

 

[Desdinova]

PS: Manuel labour is lacking everywhere in our modern world

Things are going to change because of this. Because of the baby boomers exiting the workplace, there is going to be a high demand for these kinds of jobs.

A lot of these companies who need manual labour currently ask for applicants to have certain levels of schooling and training. This is going to eventually disappear. Don't be surprised to see companies flipping half or even the full bill for training in the future instead of asking the applicant to do it on his own time.

 

[Bible_Belt]

Private banks own almost all student loan debt. There's no way that the banking industry is going to let them qualify for bankruptcy.

College tuition prices have skyrocketed. Student loans are just another transfer of wealth from the poor to the rich.

Common sense reform would be stopping the process of loaning people six-figure sums to get economically worthless degrees. But that would cut into bank profits, which is why it doesn't happen.

 

[YawataNoKami]

Pursuing a degree in the humanities or liberal arts is useless only insofar as it doesn't prepare a person to work in any single profession. From the standpoint of a university student today, a degree in any humanities discipline is a dangerous wager for a simple reason: debt.

 

[samspade]

Because Patriarchy. Right?

 

[SeymourCake]

I bet the 1/3 of women who paid off their student loans have a sugar daddy looking out for them.

 

[taiyuu_otoko]

Private banks own almost all student loan debt.

Not true. It is however, one of the best scams ever. The banks convinced congress to pass a law saying that if the students defaulted, or were late the governments would buy the note from the banks. So the banks were GUARANTEED to make money. If they student paid the loan back, the banks would get the money. But if the students didn't (or paid late or whatever) the banks could collect from the government. This is why banks were so vicious in selling these, they were GUARANTEED profit machines.

31% of Government Assets is Student Loan Debt

The total value of assets held by the federal government is $3.2 trillion. The government’s assets include its cash, gold reserves, property, and the value of land, equipment, and inventories. The lion’s share of the government’s assets, though, is the value of loans it has issued. The total value of government-issued loans is over $1.2 trillion, almost 40 percent of its total assets.

By far the largest loan program run by the feds is the student loan program. Last year, the federal government held as assets almost $1.1 trillion in student loans. This is up almost 10 percent from 2014. The federal government earned almost $1 billion on these loans last year.

http://www.unz.com/mhudson/banking-on-student-debt/

So the question is, how are schools going to make the students pay for the education they need as a kind of union card to get a job in today’s world? In 2005 the credit-card companies and banks rewrote the bankruptcy law so that the government would guarantee student loans.