You'll wish decades of debt on the people with no means of relief regardless of their circumstances. You don't seem to mind that someone whom makes some bad decisions when they are young is almost assured to never be able to retire comfortably and die poor. But hey, at least you don't wish cancer on anyone. You're a sensitive guy.

 

What a joke just like a person who wants no accountability for ones actions. To be fair the original poster wanted loan forgiveness, he did not ask for opinion on declaring bankruptcy. I believe Red and I both worked our way thru college and flight training paying as we went, if I remember correctly. It certainly took longer in my case but doable just not the instant gratification a certain segment thinks they deserve. BTW I do not think companies should be able to spin the bankruptcy roulette wheel either.

 

I guess you didn't get enough love from your mother, or you got too much love from your father.

 

not worth my time

 

Maybe we have this "predatory lending/sky high interest" because of irresponsible people who refuse to pay back their loans? Just like insurance....if you are in a high risk category, your rates go up. We were all 18 once, and most of us did the responsible and moral thing. It took me an extra 2 years to finish college because I worked on the side, why should you get a free ride?

 

Well Red he got ya there.....not sure how you can top that one....

 

Unfortunately, these young people are not given the entire story, the information is not out there for the taking, they suffer from a situation where they are surrounded by family members, various school officials, and others, encouraging them to get their education and get in the workforce. The truth might be somewhere in this cloud, but if it conflicts with what the school is encouraging or wants it's likely to at least be de-emphasized and at worst kids are outright lied to. Now you add to that a young kid that has taken high school economics, but that doesn't really understand economics, compounding interest, deferments, cost of living 5 or more years later, where he is even going to be living, and so on, not to mention they have probably never paid back anything of value in their life, and it quickly gets unrealistic to expect these kids to make the right decisions and actually understand the decisions. This is something that impacts their lives so greatly that they may not be able to get out from the debt for 20 years or more, not to mention what happens if they lose their medical or get multiple checkride failures later on. Yeah, kids sometimes sign bad car purchase deals, and that is usually a good life lesson, but how many times over or for how long do they need to learn that they shouldn't have funded their aviation career with loans? 30 years? 40 years? For the rest of their lives? I understand that they should pay back the money if at all possible and I'm all for that, but it's a little more complicated than that.

It's like your grandma getting all of her life savings taken away by some con man. Sure, she signed the line, and maybe it was technically legal, but someone just took advantage of her, because she didn't understand the connotations of signing and the entire situation.

I'm all for making them pay back the money if at all possible. On the other hand, if it's not possible because the bottom fell out, the world wasn't as promised, the people that made those promises should be held accountable too. If there's no possible way for them to pay back the money, the loan companies should come after the school and they should pay the difference or what the student can not. I bet real fast the entrance requirements would go way up and we'd get people that actually want to be there, are capable of being there, and have the financial resources to be there. The school would also take job-placement seriously and the fact that you earn so little when starting out as a pilot would force them to come up with better solutions, more bridge programs, searching for partners that need pilots and understand the known quality of the institution, and so on.

 

I really hope they don't do this. I am aware of the problems people are having with repaying their school loans, but I believe now is the time to let the supply side catch up with companies. Don't give any incentive to become a pilot until the wages catch up, and this means increase considerably.

I'm thinking that loan forgiveness may make people think the career is acceptable with the low pay, since the loans don't have to be repaid.

Hey, I went through a tough time with my college loans as well as the rest of us. I just don't think that now is the time to start "inventing" ways of getting people to start this career. Let the supply and demand side of this equation finally work in our favor.

 

OR (in reference to my post above) we concede that some people won't make it, it doesn't matter how hard you try or how bad you want it, and we are "ok" with these people dropping out of life, becoming homeless or starving. It goes against what most of our parents taught, but no matter how much you "believe" in something, life happens, like losing your medical, having some sort of tragedy or catastrophic live event, and so on, and there is no way that many of these people will be able to do what they want or achieve their dreams. That's a horrible thing to teach children, but when we realize the inevitability of some of these things, it kind of makes us hypocrites when we go back and think about it.

 

Wow. You can delete that, but Red already quoted you. How disgusting and foolish. Credibility blown, not that the whole quit your job argument held water anyways.