The feudal overlord of thousands of naive and idealistic American college students who were susceptible to visions of grandeur about a great-paying job over the rainbow once they have a degree. Occasionally one out of hundred succeed paying off their debt, but most opt for deferments, and kicking the debt down the road in vain.
Dupes graduate with a bachelor's degree, and believe their misfortune, lack of income, and debt problems can be alleviated by borrowing more money and pursuing a graduate degree as they contract more debt. This usually proves vain.
Since student loan debt cannot be discharged legally in bankruptcy proceedings, the only solution for many students is getting a scarce gov't job with a loan forgiveness option, joining the military, committing suicide, or emigration to a foreign country.
The rationale for guaranteed loans emanates from the notion that the state subsidizing the cost of education somehow makes it cheaper. In reality, making gov't loan guarantees and six-figure credit ceilings available to a demographic of mostly 18 to 25 year-olds, who have limited work and credit history distorts the marketplace. If colleges had to take that demographic as they were without the gov't subsidized loans, colleges would be compelled to control their costs, and be more affordable. Cost inflation of tuition prices is institutionalized at 5-6% per annum.
Dupes graduate with a bachelor's degree, and believe their misfortune, lack of income, and debt problems can be alleviated by borrowing more money and pursuing a graduate degree as they contract more debt. This usually proves vain.
Since student loan debt cannot be discharged legally in bankruptcy proceedings, the only solution for many students is getting a scarce gov't job with a loan forgiveness option, joining the military, committing suicide, or emigration to a foreign country.
The rationale for guaranteed loans emanates from the notion that the state subsidizing the cost of education somehow makes it cheaper. In reality, making gov't loan guarantees and six-figure credit ceilings available to a demographic of mostly 18 to 25 year-olds, who have limited work and credit history distorts the marketplace. If colleges had to take that demographic as they were without the gov't subsidized loans, colleges would be compelled to control their costs, and be more affordable. Cost inflation of tuition prices is institutionalized at 5-6% per annum.
Ryan screwed the pooch. He borrowed $80 grand from Sallie Mae to pay for his bachelors of art degree in Government. Then as his job fortunes worsened, he had this naive idea he could be an educator in the middle of a recession, so he got a masters of arts in history only to realize the colleges and public schools do not have any openings. Now he's going to have to move to Canada to escape his hopeless debt.
by feudalserf August 29, 2012
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by IReadTheDictionaryEveryDay March 12, 2019
Get the Sillis mug.by Duskman June 7, 2010
Get the what arbitrary silliness mug.The word 'Skollie' is of South African (Afrikaans) origin and has many meanings:
A naughty, dirty or ill-mannered child.
A gangster or somebody who deliberately breaks laws.
Somebody who is devoid of class and manners.
A homeless person.
It can also be used to describe somebody's behaviour.
A naughty, dirty or ill-mannered child.
A gangster or somebody who deliberately breaks laws.
Somebody who is devoid of class and manners.
A homeless person.
It can also be used to describe somebody's behaviour.
'Michelle, can you please control your children, they're acting like little skollies.'
'Yoh man, what Kanye West did to Taylor Swift at the VMA's was so skollie.'
'Yoh man, what Kanye West did to Taylor Swift at the VMA's was so skollie.'
by Saffa101 September 16, 2009
Get the Skollie mug.noun. uncontrollable laughter when over tired. the unit will laugh at even the stupidest things and may respond with harsh words that don't even make sense. the unit may even result in throwing things
During the late hours of the eve, Peter cannot help but have the sleepy sillies and whip books at his wives.
by Humpcatter16 January 17, 2010
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