http://finance.yahoo.com/q/is?s=SLM+Income+Statement&annual I'm curious why Sallie Mae lost money in 2007 and 2008 if the government pays them back, with interest, loans that are in default?
If you default on a student loan, how does the collection agency garnish your wage if you are self-employed? Can they seize your assets, like your home, car, bank account, and/or brokerage account?
Perhaps they have no money to start a business or the knowledge of how to run a business or even know what a Schedule C or 1040 ES is. Of course it depends on the type of business and how much money you need to start it. Corporations don't want wild and care-free entrepreneurs. They want obedient workers willing to settle for 2 weeks vacation per year and work for low pay. I am so glad to be self-employed and not have a boss to answer to and telling you what to do and what to wear. You can work as much or as little as you want and take as much as vacation as you want. I take 3 or 4 months of vacation each year, most of that time is spent in Europe. I definitely would recommend self-employment for anyone, as long as you make money at it. Freedom is definitely priceless.
You should have engaged him and ask what a musicologist does. Seriously, did he think that would get him a job???????
Age Racism in Western countries? In your pants maybe. Asia is where the age racism is. Dairy Queen for example has a sign that says only those under 23 need apply. By age racism, I think you mean to say age discrimination. Anyway, in Asia there's also plenty of racism. White is a big advantage, black or even dark skin is a huge problem. Believe me, the US is the best it gets for workers rights.
So the 16 million unemployed should all start a small business? I bet that work out well with most small business currently going bankrupt.
Most things written on this site have to be taken with a large grain of salt. After all, if everyone showed up in person, you'd more than likely find out the guys and gals you are debating with are still of college age and lack a great deal of perspective. That being said...with regards to the idea of the masses of unemployed starting their own business, it sounds slightly sensible in theory BUT there are start-up costs with just about any business and I don't figure that alot of those folks have nest eggs sitting around to foot the bills.
I'm not using IBR yet, as I am still deferring repayment, but I was under the impression from others on it that it's working as stated on the various websites about it. Are you saying it's not yet a real option for student loan debtors? Is it just an idea? I believe some of my cronies from school are doing it.