I just thought ACTING would be something to help out with my student loans, but my first YEAR as an ACTRESS, I MADE more money than my PARENTS. That's when I realized it could turn into a career. After that, I put everything I had into it.
Students are up to their eyeballs in loans, and it's GOING to get even worse. It's going to be hideous, ACTUALLY. Students are going to be saddled for LIFE. It's going to put a LOT of people off going to college, which is a SHAME.
There were ABSOLUTELYCIRCUMSTANCES where Sallie Mae was working hand-in-hand with for-profit schools and other schools in OFFERING and putting students into risky expensive subprime LOANS.
The loans I took out for my undergraduate DEGREE were manageable. But my legal education was more EXPENSIVE, and I paid for it almost ENTIRELY through PUBLIC and PRIVATE loans.
I'm all in favor of BANKS that play their part in COMMUNITYENDEAVORS, private individuals looking for loans, PEOPLE who want to start up a LITTLE business, and that's what banks are for.
There's a reason that there are oodles of young Aussies, Germans, Japanese, EVEN Chinese backpackers traipsing AROUND the WORLD. They are unencumbered by debilitating student LOANS. No such luck for the American Theater Arts MAJOR with $120,000 in loans.
At the heart of BANKING is a suicidal strategy. Banks take MONEY from the public or each other on CALL, skim it for their own reward and then LOCK the rest up in volatile, INSECURE and illiquid loans that at times they cannot redeem without public aid.
INCREASINGLY, the real estate developers can't GET bank loans for their project financing in China. They're now going into the Hong Kong market to raise MONEY in the bond market at very, very high rates, as high as 15, 20 PERCENT.
ENGINEERING undergraduates should not be charged fees. They should RECEIVE grants, not STUDENT loans, and the GOVERNMENT will get the money back long-term from increased exports.
If there were not derivatives, there would be no bank LOANS at all today, because people want to get fixed-rate 30-year loans, but BANKS don't want to keep 30-year loans on their BOOKS.