Drew Community  

Go Back   Drew Community > General Forums > Announcements & General Discussion
uLogin ID  
Password
FAQ Members List Calendar Search Today's Posts Mark Forums Read


Reply
 
Thread Tools Search this Thread Display Modes
  #1  
Old 10-21-2008, 10:05 PM
Yasin B. Abbak
 
Posts: n/a
Default Student loans-where is our economic bailout? What's your opinion?

I just want to see what other students (and professors) think about the government's ability to provide $700 billion to Wall Street, and spend about that much in Iraq, while letting its youth start off with over $150,000 dollars in debt in some cases.

Where is OUR economic bailout package?

Opinions?
Reply With Quote
  #2  
Old 10-22-2008, 12:54 AM
Elizabeth M. Jones Elizabeth M. Jones is offline
Squirrel
 
Join Date: Apr 2007
Posts: 15
Default Sds

Hey Yasin,
I couldn't agree with you more. You should come to an SDS meeting. Our main campaign this semester is making education affordable. We're starting with bringing down the cost of textbooks - but we have larger goals like a tuition freeze and debt relief. Out main meetings are mondays at 9.30 in the WH lounge, but if you're just interested in this particular issue, we have accessible education meeting (usually) on wednesday nights. all are welcome. you can send me your email to get more information on meeting times.
hope this helps
-Elizabeth
Reply With Quote
  #3  
Old 10-22-2008, 05:20 AM
Blake J. Gideon
 
Posts: n/a
Default

How about no more bailout packages? Government spending needs to decrease not increase. Where is this bailout money coming from? Arent they just printing it?

Just because they made a mistake approving the 700 Bn, dosent mean they should make it worse by giving away more handouts.

Never the less, I believe they just approved another 500 Bn for a money market bailout or something.

So the money supply has increased by more than a trillion in less than a few months. I wonder what the percentage increase on this is.

Actually, all these bailouts are helping you with your loans. You see, the money supply is rising, thus prices will follow suit. Your nominal 150,000 in loans currently will most likely decrease in real terms once you begin to paying them off.
Reply With Quote
  #4  
Old 10-22-2008, 11:31 AM
Christopher Sentmier Christopher Sentmier is offline
Young Squirrel
 
Join Date: Apr 2008
Posts: 7
Default

Students actually got a reverse bail-out

H RES 653 "This bill cut nearly $40 billion over five years from the federal budget by imposing substantial changes on welfare, child support and student lending programs."
http://projects.washingtonpost.com/c...use/2/votes/4/
More information can be found at:
http://www.sfgate.com/cgi-bin/articl...DGHCGRV7M1.DTL

Essentially congress voted to cut almost 13 billion from student aid. If your congressman doesn't vote for you, why should you vote for them? See how your representative voted. I personally know the congressman in Drew's district, Rodney Frelinghuysen, voted for cutting student aid in H RES 653 yet voted for the second bailout of over 840bil (he voted against the original 700bil bailout because it was "too much money").
Reply With Quote
  #5  
Old 10-22-2008, 11:47 AM
Farah Joseph
 
Posts: n/a
Default

OMG!!! I thought I was the only one upset about corporations being bailed out, while hard working young adults have to endure large amount of debt for an education that is needed to survive in today's work environment.
Reply With Quote
  #6  
Old 10-22-2008, 01:36 PM
Yasin B. Abbak
 
Posts: n/a
Default Consider this

Quote:
Originally Posted by Blake J. Gideon
Actually, all these bailouts are helping you with your loans. You see, the money supply is rising, thus prices will follow suit. Your nominal 150,000 in loans currently will most likely decrease in real terms once you begin to paying them off.

Blake, I would agree with you if not for one thing: we are not entering a job market that is sufficient enough to pay off those loans. If we were entering a healthy job market I would say fine.

Across the board, job opportunities are decreasing, making the wage rate go down. People are willing to work for less - supply and demand. Unfortunately, loans and college costs are not reflecting that. While we are going to have trouble finding jobs, loans and other debts are having no trouble finding us.

I just find it sad that other countries are investing so much in the education of their youth, but when we try to keep up with the education curve, we are "punished" for it. In some cases we are discouraged from getting higher degrees. We just can't afford it! My degree is a representation of the 4 years of debt that I accumulated.

I would like a bailout.

Opinions?
Reply With Quote
  #7  
Old 10-22-2008, 07:38 PM
Blake J. Gideon
 
Posts: n/a
Default

Two wrongs dont make a right.
Reply With Quote
  #8  
Old 10-22-2008, 11:28 PM
Neal B. Day
 
Posts: n/a
Default

I love that people are talking about this. It's great that everyone is finally waking up to all this (including myself).
Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

vB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Forum Jump


All times are GMT -4. The time now is 11:04 AM.


Powered by vBulletin® Version 3.5.7
Copyright ©2000 - 2019, Jelsoft Enterprises Ltd.

Drew University is not responsible for the content of posts made on this site. All posts and comments reflect the opinion of the author.