Tag Archives: Student Loans

Simple Things

These days everyone complains about student loan debt. Some foolish bureaucrats even talk about debt forgiveness, which is laughable. These debts didn’t do anything wrong. Why do they need to be forgiven?

At Pungent Sound Technical College of Technology, we shun people who only complain about problems. We embrace (in an awkward sexual way) people who solve problems. So here are 5 simple things you can do to pay down your student loans.

  1. Each month take your rent money and use it to pay your student loans. It will take your landlord one year (at least) to evict you, and that’s one year of easy payments towards your student loan debt. Mom and dad have a sofa.
  2. Get a loan to pay your student loan. Credit cards are great for this. No collateral required and a low interest rate of 22%. Are your credit cards already maxed out from paying student loans? What about mom’s credit cards?
  3. Get a night job. You don’t have money to go out after working your day job anyway. So now you will have something to do at night.
  4. Stop eating. Inflation has hit food prices hard. You shouldn’t have to put up with that. Imagine how much money you will save if you just cut food from your diet. And you’ll be a skinny legend.
  5. Go to grad school. Is that bachelor’s degree in symbology not working out? Even though you studied under Professor Robert Langdon? Take out another student loan and get a graduate degree in symbology. Robert Langdon did, and he’s doing fine. He teaches at Harvard now and looks like Tom Hanks.
  6. Bonus idea! Whatever you do, don’t lobby Congress to make it easier to discharge student loan debt. We may have encouraged (and frequently helped) you to get these loans, even though we suspected you would never be able to pay them off, but why should we be penalized? Isn’t it enough to just penalize you?

Titmouse Beak, CEO of Pungent Sound Technical College of Technology

The Court of Last Resort

It’s easy to know when I’m about to make a bad student loan. I ask 3 questions. Is the borrower studying for a degree in social work? Is the borrower attending a for-profit college like Pungent Sound Technical College of Technology? Does the borrower want a career where she selfishly works to help other people?

If the answer is yes to any of these questions, the borrower will never be able to pay back the $200,000.00 loan I am about to give her. Still, I make the loan. Then I hound her all the way to bankruptcy court. If she can’t discharge the loan (and usually you can’t), I continue to hound her after bankruptcy.

If I were lovable, the bankruptcy court would be my lover. The relationship will be wildly dysfunctional. But the sex would be charged and dangerous. I wrote a poem about it.

The Court of Last Resort

Some of us get a dime
even though a dollar is due
and some of us pay a dime
even when we have so few.

So everyone here has
lots of reasons to lie
because in the court of last resort
you keep what you can hide.

Titmouse Beak, President of Pungent Sound Community Bank

Discharging Student Loans – Just Say No

Lately there has been some discussion about the U.S. Congress passing legislation that makes it easier for individuals to discharge student loans they can’t pay. On behalf of all the for-profit colleges in the country, let us assure all prospective college students that this is not a good idea.

Currently getting a student loan is easier than getting pregnant – assuming you are trying to get pregnant. If you are trying to avoid pregnancy, yet not using condoms or other forms of birth control, then getting a student loan is harder than getting pregnant. We seemed to have digressed.

The point is this. Student loans are like STDs. They are everywhere, and they are pretty easy to get. That’s because lenders don’t have to do any due diligence. They do not need to worry about whether you may not be able to pay the loan back. That’s because it is ridiculously hard to discharge student loans. They are like ex-spouses. You always have to pay them, and they never go away. They will attend your funeral and dance on your grave.

If you’re a lender or a college, that’s great. But it is great for a student, too – especially if that student wants to major in Celtic Clog Dancing or the Mythology of the Icelandic Yule Lads. If lenders need to start doing due diligence and if they need to worry about whether the student can get a job to pay the loan back, students may not be able to get loans for those majors. And that simply isn’t fair to colleges – especially for-profit ones that really rely on the student loan industry to make gobs of money.

So lobby your congress member to vote against any legislation that makes it easier to discharge student loans. You can trust us on this, because we really care. About our shareholders, that is. We really care about our shareholders.

Titmouse Beak, President of Pungent Sound Community Bank

Treacherous Gulp, Esquire – Counsel for Pungent Sound Technical College of Technology