'Murica! (220 Viewers)
- Thread starter Fake Melo
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i just read this:
http://www.vice.com/read/talking-to-american-debt-dodgers-who-moved-to-europe-to-avoid-paying-off-their-student-loans-111
as someone wrote in the comments, it feels like a the onion article
the art school guy 
it is kinda sad to read and it shouldnt even come to that, but this education system is what it is, so why not think about some things first before you go get a huge credit? like will i be able to pay it back? how long will it take? do i really have to go to college?...or am i just going because
everybody else seems to go? will i find work after finishing school?
...running away is a great idea. mentality will get you far.
http://www.vice.com/read/talking-to-american-debt-dodgers-who-moved-to-europe-to-avoid-paying-off-their-student-loans-111
as someone wrote in the comments, it feels like a the onion article
the art school guy
it is kinda sad to read and it shouldnt even come to that, but this education system is what it is, so why not think about some things first before you go get a huge credit? like will i be able to pay it back? how long will it take? do i really have to go to college?...or am i just going because
everybody else seems to go? will i find work after finishing school?
...running away is a great idea. mentality will get you far.
Former students who refuse to pay off their student loans and have resorted to the worst of the worst: living in Germany.
These guys are like poster children for conservatives though. I wouldn't be surprised if the entire thing is fake and it's really about making people resent the idea of free education. The guy who did film studies in particular cannot be for real.
These guys are like poster children for conservatives though. I wouldn't be surprised if the entire thing is fake and it's really about making people resent the idea of free education. The guy who did film studies in particular cannot be for real.
True, that's why I said 10 to 15 years. The rest could probably pay off their loans in 3 years with a decent job, 5 to 7 with a shitty job.
The biggest issue is the lack of exit counseling when you graduate. No one tells you about the different ways you have to actually pay off a student loan. Student loan companies usually push forbearance or deferment, when you're actually entitled to a income based payment plan. That's what happened to me after my first stint in university.
The biggest issue is the lack of exit counseling when you graduate. No one tells you about the different ways you have to actually pay off a student loan. Student loan companies usually push forbearance or deferment, when you're actually entitled to a income based payment plan. That's what happened to me after my first stint in university.
Some of my friends who are doctors or still in med school who did(doing) longer specialist years finish with around 800 - 1 000 000 swedish crones in loans, thats a minimum of 93k dollars in debt if I did the math right. Its hard, but they pay it off slowly every year. Tho perhaps different with them considering they guranteed jobs afterwards with very good to high salary in some cases. Compared to acquiring this debt and then going to Berlin to work as a waiter.
If you become a surgeon in Belgium you have no debt. Except if you take on loans to provide for your housing, food, clothes, etc... But the the actual tuition is around 900 Euros or something.
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If you become a surgeon in Belgium you have no debt. Except if you take on loans to provide for your housing, food, clothes, etc... But the the actual tuition is around 900 Euros or something.
- - - Updated - - -
If you become a surgeon in Belgium you have no debt. Except if you take on loans to provide for your housing, food, clothes, etc... But the the actual tuition is around 900 Euros or something.
I think my first payments were $600 a month. And I had just left school, I hadn't graduated so I was working a minimum wage job and I made a little bit more than my loan payment, so I was like "hey guys this payment is a little much, what can I do" they replied "oh don't worry sir you can defer your payments". I'm pretty this is the last loan I have to pay off because it has been around since like 2002.
But yeah there are so many different plans you can chose from, but you really have to do the research on your own. The exit counseling is usually no more than a link to a website and a request to electronically sign once you've "read the information".
But yeah there are so many different plans you can chose from, but you really have to do the research on your own. The exit counseling is usually no more than a link to a website and a request to electronically sign once you've "read the information".
If they never paid out, they wouldn't exist. Let's steer away from silly debates of nonsense and not waste either of our's time here.
The issue is that they are designed to deny service. Profits rise when they put their own resources towards rejecting claims, not servicing them. That's the antithesis of most service-based businesses in the free market.
But it's not how it works. And that's the problem. Third parties (whether Aon actuaries or Medicare) come up with their lists of what procedures are covered and what isn't and how much should the going price be. The hospital isn't incentivized to use cheaper equipment as the cheaper systems either won't be subsidized by the payer or they won't be able to command a superior reimbursable price for the patient. So there are little or no incentives in the marketplace for manufacturers of ultra-low-cost but highly performant MRIs. Thus nobody is working on that, and everybody is working on the latest and greatest that will command the highest price and the highest reimbursements for everyone. (I know this having a PhD in Bioengineering and worked on this stuff.)
But A can't charge any price it wants. The third party payers can simply reject it, saying it costs to much to cover. So unless your patients are paying in cash, they can't exactly charge whatever price whim that strikes them. That caps the profit potential and the interest of competition entering the fold.
In any case, even if A, B, C, and D are in the market, they will all be incentivized to produce drug cocktails to generate lifetime subscriber revenue rather than a once-and-out cure. There's no money in cures. Cures are bad for business. And you can invent scenarios with NPV profits and discount rates on paper, but the reality is to look at the for-profit pharmas out there. They aren't looking for cures. They're looking for the last of the blockbuster drugs, like dick pills and the dying days of statins, where they can manage any illness or affliction you have as chronic care. Because that's where the profits and business sustainability are.
Btw, you do realize the "R&D investment excuse" of pharmaceutical companies is bunk, do you? Look at their balance sheets and you'll see they spend at least twice as much on consumer marketing as they do on research.
The issue is that they are designed to deny service. Profits rise when they put their own resources towards rejecting claims, not servicing them. That's the antithesis of most service-based businesses in the free market.
But it's not how it works. And that's the problem. Third parties (whether Aon actuaries or Medicare) come up with their lists of what procedures are covered and what isn't and how much should the going price be. The hospital isn't incentivized to use cheaper equipment as the cheaper systems either won't be subsidized by the payer or they won't be able to command a superior reimbursable price for the patient. So there are little or no incentives in the marketplace for manufacturers of ultra-low-cost but highly performant MRIs. Thus nobody is working on that, and everybody is working on the latest and greatest that will command the highest price and the highest reimbursements for everyone. (I know this having a PhD in Bioengineering and worked on this stuff.)
But A can't charge any price it wants. The third party payers can simply reject it, saying it costs to much to cover. So unless your patients are paying in cash, they can't exactly charge whatever price whim that strikes them. That caps the profit potential and the interest of competition entering the fold.
In any case, even if A, B, C, and D are in the market, they will all be incentivized to produce drug cocktails to generate lifetime subscriber revenue rather than a once-and-out cure. There's no money in cures. Cures are bad for business. And you can invent scenarios with NPV profits and discount rates on paper, but the reality is to look at the for-profit pharmas out there. They aren't looking for cures. They're looking for the last of the blockbuster drugs, like dick pills and the dying days of statins, where they can manage any illness or affliction you have as chronic care. Because that's where the profits and business sustainability are.
Btw, you do realize the "R&D investment excuse" of pharmaceutical companies is bunk, do you? Look at their balance sheets and you'll see they spend at least twice as much on consumer marketing as they do on research.