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SiGmA_X posted:Uh... His situation is lacking details and seems to be a general clusterfuck from the ones provided, but that may actually be among that limited subset of cases where it makes sense for someone to buy or lease a truck. If he can legitimately quantify and project the (presumably minor contracting) work he has to pass up because he's lacking the equipment and that comes out ahead of his truck-related expenses, why shouldn't he get the truck? The safer bet though would be using rentals until he has good forward revenue visibility, even if it bites into his margins more compared to a long-term commitment like a lease or purchase.
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May 26, 2018 04:21
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https://www.telegraph.co.uk/politics/2018/05/21/government-launch-legal-battle-access-400m-anonymous-donation/ Bad with money, but a masterful troll. An anonymous donor donated £500,000 to the government with the attached condition that the money could only be withdrawn to completely pay off the national debt. That was 90 years ago. It's worth 400 million now and will likely be lost forever, because the debt keeps growing faster than that fund.
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May 26, 2018 11:49
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The New York Times has a long article on how student loans are trashing the younger generation's dreams for home ownership. Most of it is fairly reasonable, but even their example cases are pretty BWM: https://www.nytimes.com/2018/05/25/business/how-student-debt-can-ruin-home-buying-dreams.html quote:Adrienne Naylor turned 34 this month. She has a stable job at a university in Cambridge, Mass., where she lives. She has a girlfriend she loves. But she does not feel like she is getting any closer to buying a home. Med-school level loan debt from pursuing the dream of a master's in history. I mean, even if she found a career in her field, she'd never be able to pay that off on archivist's salary. (I also like the hazy handwaving on exactly how long it took her to get her degree, aside from the fact that it took multiple colleges.) quote:The delay feels like it could be more open-ended for Matthew McCabe, who is staring down age 40 and long odds on ever owning property. He has paid about $25,000 back to the government for his student loans, yet he still owes $86,000 for the Ph.D. in music composition that he received in 2010. On the plus side, this guy earns $55K/year and it seems like if he buckled down and budgeted hard for a few years he could probably knock out a decent chunk of that and build up some savings for a down payment on an affordable home, especially since he lives in a small city in Georgia.
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May 26, 2018 12:45
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Known Lecher posted:The New York Times has a long article on how student loans are trashing the younger generation's dreams for home ownership. Most of it is fairly reasonable, but even their example cases are pretty BWM: There really needs to be a law that restricts the amount you can borrow to some multiple of your average expected salary. The cost for some of these degree programs would magically decrease overnight. Or schools would find a loophole. Like a double major in music composition and business.
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May 26, 2018 13:10
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Krispy Wafer posted:There really needs to be a law that restricts the amount you can borrow to some multiple of your average expected salary. The cost for some of these degree programs would magically decrease overnight. Or schools would find a loophole. Like a double major in music composition and business. As soon as liberal arts degrees are only accessible to the children of rich people, hiring managers everywhere will discover the incredible business value of liberal arts degrees.
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May 26, 2018 13:14
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Space Gopher posted:As soon as liberal arts degrees are only accessible to the children of rich people, hiring managers everywhere will discover the incredible business value of liberal arts degrees. I agree on a cap for borrowing on liberal arts degrees, but they still have value to them. I majored partially in music, I haven’t done anything in music in almost 8 years, but I honestly don’t regret the major. I have $14k in student debt, so maybe if I had more in loans I would regret it.
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May 26, 2018 13:42
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Duckman2008 posted:I agree on a cap for borrowing on liberal arts degrees, but they still have value to them. I majored partially in music, I haven’t done anything in music in almost 8 years, but I honestly don’t regret the major. I have $14k in student debt, so maybe if I had more in loans I would regret it. Or we could skip the middle man and directly subsidize post secondary education as the public good that it is like most of the rest of the developed world?
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May 26, 2018 13:55
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Known Lecher posted:
That has to be for an out-of-state archives program, which on future expected earnings as an archivist is almost always a terrible decision.
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May 26, 2018 14:02
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AreWeDrunkYet posted:Or we could skip the middle man and directly subsidize post secondary education as the public good that it is like most of the rest of the developed world? Can we sum up the inevitable objections this proposal will raise as "American exceptionalism(pbuh)" and move right along to discussing how it is, in fact, a great idea?
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May 26, 2018 14:02
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AreWeDrunkYet posted:Or we could skip the middle man and directly subsidize post secondary education as the public good that it is like most of the rest of the developed world? I mean, I would be ok with this. Good luck having it happen with the current political environment unfortunately.
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May 26, 2018 14:07
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Weatherman posted:Can we sum up the inevitable objections this proposal will raise as "American exceptionalism(pbuh)" and move right along to discussing how it is, in fact, a great idea? Well America has the best universities in the world so...perhaps the world just needs to charge a little bit more? The Economist had a recent article about France's baccalauréat and the problems with providing 'free' education to all. It's essentially created an overcrowded academic underclass and encourages the best and richest to study abroad. https://www.economist.com/leaders/2018/05/05/france-where-the-grossly-unprepared-try-for-maths-degrees
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May 26, 2018 14:16
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Krispy Wafer posted:Well America has the best universities in the world so...perhaps the world just needs to charge a little bit more? Kind of the issue when the original idea of academia is to be a way for the sons of the wealthy to distinguish themselves when they can't have literal noble titles anymore.
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May 26, 2018 14:54
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AreWeDrunkYet posted:Or we could skip the middle man and directly subsidize post secondary education as the public good that it is like most of the rest of the developed world? Not a single person pointed out that you are literally and factually wrong in your above post.
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May 26, 2018 15:08
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Space Gopher posted:As soon as liberal arts degrees are only accessible to the children of rich people, hiring managers everywhere will discover the incredible business value of liberal arts degrees. College is expensive but it's not THAT expensive if you aren't a giant moron who goes out of state and takes 6 years to finish. Also people need to realize that most masters degrees are worthless.
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May 26, 2018 15:13
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OctaviusBeaver posted:College is expensive but it's not THAT expensive you must be American.
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May 26, 2018 15:22
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I mean, when you consider how valuable college is for a lot of people's futures, even graduating with the average amount of debt can still be considered a good investment. The problem is we're expecting inexperienced 18 year olds to make life-long decisions or rely on parents who may or may not be dumbasses. My folks told me to move cross country for school because they heard education was free in California. This was before you could look this poo poo up on the internet, so I can only imagine my dad heard this at the bar and figured he just solved that whole paying for college thing. Open a loving college fund for your kids, people.
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May 26, 2018 15:34
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Guillotines for any university with a unspent endowment over 100 million
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May 26, 2018 15:36
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Foma posted:Guillotines for any university with a unspent endowment over 100 million They use the investment procedes for scholarships and running the University.
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May 26, 2018 15:56
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Lowness 72 posted:They use the investment procedes for scholarships and running the University. Lol. Source your quotes
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May 26, 2018 16:17
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please knock Mom! posted:you must be American. The average cost for in state colleges is $10k/yr. So $40k for a degree.It's not chump change but it's hardly unaffordable for a once in a lifetime purchase. There are plenty of stories in this thread about people who spend that much on trucks every 4 years. The problem isn't that college isn't affordable, it's that people go to private colleges or go out of state or take a long time to graduate or blow their loan money on horse surgery or get an unfunded Phd, that's where the "$100k in debt and make $20k" stories come from. Not from regular people going to state schools which is what 95% of people should do. OctaviusBeaver fucked around with this message at 16:25 on May 26, 2018 |
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May 26, 2018 16:22
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Krispy Wafer posted:There really needs to be a law that restricts the amount you can borrow to some multiple of your average expected salary. The cost for some of these degree programs would magically decrease overnight. Or schools would find a loophole. Like a double major in music composition and business. Make student loan debts dischargable via bankruptcy. Then the lenders would start worrying about whether your degree is in folklore & mythology or chemical engineering overnight. AreWeDrunkYet posted:Or we could skip the middle man and directly subsidize post secondary education as the public good that it is like most of the rest of the developed world? That has its own issues: https://www.huffingtonpost.com/kurt-ellenberger/tuition-in-wonderland-hig_b_9559384.html quote:Why do they subsidize tuition for foreigners? So say you want a degree in music in Austria. Just a bachelor's degree, not a PhD in music composition. Austria has five schools that offer one. Michigan, a state with 15% more population than Austria, has 27. quote:This is what rationing looks in a free tuition environment. It ensures that the students admitted are extremely qualified for what is, in reality, a “scholarship” they are receiving from the government. In order for this to work, however, the government has to decide how many graduates they want in each discipline and that number is reflected in the number of openings there are in any given field of study. The European socialists are indeed generous, but they are also realists—they don’t need a thousand lute players graduating every year. Directly subsidizing post-secondary education doesn't mean that that guy with a Ph.D in music composition still has his degree and no student loan debt, it means he almost certainly has some other degree. Or none at all. Phanatic fucked around with this message at 16:35 on May 26, 2018 |
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May 26, 2018 16:26
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Wonder how many of those elite European musicians also had parents that paid for private classical music tutoring since pre-school
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May 26, 2018 16:39
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i mean, we fund the poo poo out of foreigners for phd programs. us universities have really unequal teaching, but they embrace the inherent inequality of research hard and therefore produce really great research inequality in research applies even in advocating for more equality/equity/whatever. all leftism after marx in the shadow of marx, etc etc
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May 26, 2018 17:03
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OctaviusBeaver posted:The average cost for in state colleges is $10k/yr. So $40k for a degree.It's not chump change but it's hardly unaffordable for a once in a lifetime purchase. There are plenty of stories in this thread about people who spend that much on trucks every 4 years. The problem isn't that college isn't affordable, it's that people go to private colleges or go out of state or take a long time to graduate or blow their loan money on horse surgery or get an unfunded Phd, that's where the "$100k in debt and make $20k" stories come from. Not from regular people going to state schools which is what 95% of people should do. It's not just 10k USD/yr, friend. It's 10k USD/yr + time spent pursuing the degree + additional living and traveling expenses, which all are major maluses on your earning potential during those years. So you're on the hook for tuition while also taking a hit with regards to your short term earnings, all for the opportunity of earning more money many years later. And you're making this choice at 16-18 years old.
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May 26, 2018 17:07
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The white middle and upper middle class don't need any more advantages than they already have. Paying for the already advantaged white kids to go to college isn't a great social benefit. Lots of other poo poo like pre-k / k-12 funding / school equality would be lots better.
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May 26, 2018 17:09
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im just a simple chicken who thinks if people want to learn poo poo we should enable that, and anything that makes education less accessible to all people (fees, gatekeeping, means-testing) is antithetical to that 
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May 26, 2018 17:19
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AreWeDrunkYet posted:Or we could skip the middle man and directly subsidize post secondary education as the public good that it is like most of the rest of the developed world? We've had this derail before. Post-seconday education isn't a public good. It's a private good with (usually) positive externalities.
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May 26, 2018 17:21
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n8r posted:The white middle and upper middle class don't need any more advantages than they already have. Paying for the already advantaged white kids to go to college isn't a great social benefit. Lots of other poo poo like pre-k / k-12 funding / school equality would be lots better. Even this thread's resident libertarian should be able to get behind this solution, since strict zoning regulations are clearly a gross impediment to a functioning housing market, right John Smith? Cicero fucked around with this message at 17:32 on May 26, 2018 |
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May 26, 2018 17:29
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SlapActionJackson posted:We've had this derail before. Post-seconday education isn't a public good. It's a private good with (usually) positive externalities. You're right, that's inexact phrasing. An education is a private good with positive externalities, an educated population is a public good.
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May 26, 2018 17:53
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Is it? We still need a lot of barely educated working drones to man the Costcos and Starbucks of the world. The world can only support so many white collar keyboard warriors.
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May 26, 2018 18:01
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n8r posted:Is it? We still need a lot of barely educated working drones to man the Costcos and Starbucks of the world. The world can only support so many white collar keyboard warriors. An educated informed population is essential for democracy to function
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May 26, 2018 18:14
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Phanatic posted:Make student loan debts dischargable via bankruptcy. Then the lenders would start worrying about whether your degree is in folklore & mythology or chemical engineering overnight. I'm not even against treating student loans differently than regular debt, but holy poo poo lifetime servitude choices at age 18 are not the way to do it. Put a 20 year expiration on the loans so worst case scenario you still have half your life. It seems weird they only had two choices - 7 years or never.
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May 26, 2018 18:32
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Then people are just incentivized to just wait it out. You really need to put the loans on better terms to begin with, or maybe do something like the UK where it's paid back with just an extra income tax that automatically comes out of your paycheck when you make above a certain threshold (that's how it works there right?).
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May 26, 2018 19:22
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Cicero posted:Then people are just incentivized to just wait it out. Maybe. Most loans are amortized for 10 years, so you'd have to spend a lotta years getting hounded by debt collectors and having lovely credit to make it to the 20 year mark. So it's no more incentived than someone waiting 7 years for any other large debt to be forgiven, except I guess you still get to keep your knowledge long after your truck's been repo'ed. Loans are already guaranteed by the government, so it just means lenders are out whatever interest they haven't been able to collect before the expiration date. Unless you're looking at an absolutely massive tuition bill, most people would rather pay a debt off in 10 years than have it hanging over their heads for 20.
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May 26, 2018 19:37
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n8r posted:The white middle and upper middle class don't need any more advantages than they already have. Paying for the already advantaged white kids to go to college isn't a great social benefit. Lots of other poo poo like pre-k / k-12 funding / school equality would be lots better. At this point pouring more money into k-12 is just lighting it on fire. It will just go to administration costs and education MBAs who want to de emphasize math since it adversely affects minorities. As for the woman who has $300k in student loans, she probably went through a default which instantly tacks on 30% and ups the interest rate a couple of points. That’s how a lot of those high balances come about.
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May 26, 2018 19:45
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Making loans cheaper just means people take on more loans. Tuition expands to consume whatever amount of money students have available. State legislatures need to step in and force them to stop raising tuition. They can fire some administrators and stop building new sports facilities if they're so cash strapped.
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May 26, 2018 19:55
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OctaviusBeaver posted:Making loans cheaper just means people take on more loans. Tuition expands to consume whatever amount of money students have available. State legislatures need to step in and force them to stop raising tuition. They can fire some administrators and stop building new sports facilities if they're so cash strapped. But but but my school's football coach absolutely needs to be the highest paid employee in the state at $7mil/year!!
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May 26, 2018 20:11
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OctaviusBeaver posted:The average cost for in state colleges is $10k/yr. So $40k for a degree.It's not chump change but it's hardly unaffordable for a once in a lifetime purchase. There are plenty of stories in this thread about people who spend that much on trucks every 4 years. The problem isn't that college isn't affordable, it's that people go to private colleges or go out of state or take a long time to graduate or blow their loan money on horse surgery or get an unfunded Phd, that's where the "$100k in debt and make $20k" stories come from. Not from regular people going to state schools which is what 95% of people should do. My in-state tuition and mandatory dorm living costs plus other living expenses and fees cost about 100k, total, for a four-year degree. I also had no income at this time. Doing 2 years at a community college and then transferring to a 4-year is a good way to keep costs down, though.
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May 26, 2018 20:53
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poopinmymouth posted:Lol. Source your quotes What do they spend it on?
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May 26, 2018 21:10
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Colin Mockery posted:My in-state tuition and mandatory dorm living costs plus other living expenses and fees cost about 100k, total, for a four-year degree. I also had no income at this time. There is literally no way you could have made some money during that time.
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May 26, 2018 22:13
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