Good ol’ FAFSA. Everyone’s favorite government racket. When they’re not throwing out $80,000 loans with 7% compounding interest to literally anyone who can write their own name, they’re tweeting out nonsense like this:
“LOL fuck you, poors. It’s like you can’t afford this ridiculously overpriced thing that is losing value every year.” That’s the gist of what just happened there. The tweet was deleted, but nonetheless, the message was sent. Also, why the fuck does FAFSA need a Twitter account? SMH. SMDH.
FAFSA issued an “apology” shortly after:
We apologize for the insensitivity of our previous tweet. Our goal is to make college a reality for all. We’re very sorry.
— Federal Student Aid (@FAFSA) June 25, 2014
Notice how they want to make college a reality for all. I think a more accurate tweet would be “We apologize. That intern has been fired. We want every student in America to be up to their eyeballs in debt until they’re 40.” Was that 140 characters?
It’s pretty cocky from an organization that’s responsible for the latest economic bubble in the US. Let Mark Cuban explain:
So, remember kids, if you’re one of the two million kids a year who need financial aid to attend college, you’re fucking poor. At least according to the single largest college lender in the country.
But that’s exactly how I felt when I filled them out…
Government loans are not the problem with the bubble. Its private lenders charging 7%+. Hell some of mine are 9%. Luckily I got a good job while still in school from a fraternities alumni (TFM) and have paid down alot of my 40K balance.
Having a full comment section conversation with yourself. PGP
The issue is that for an unsecured private loan to someone with exactly zero credit in most cases, 7-9% is a pretty good rate from the bank’s point of view. That’s the issue with private student loans. There’s nothing to guarantee them and therefore nothing to seize to recoup the balance owed if the borrower decides that they can’t or just don’t want to pay anymore. It’s basically a lose-lose situation.
The follow up tweet is part of the problem. Not everybody should go or needs to go to college, so it shouldn’t be a reality for all
I disagree, the more educated your citizens are, the more your economy prosper. This isn’t about who does or doesn’t need to attend college, it’s about the cost of college.
will prosper*
President Selfie’s FAFSA shamelessly tweeted a Bridesmaids picture to advertise student loans to “poor” people? NO WAY.