Forgive my student loan!
Replies
-
Student Loan Forgiveness...please. Why should my tax money go to pay for someone else's loans? Nobody forced them to take out big loans. I had loans while in college and for a few years after I graduated but I worked my *kitten* off to get them paid off.
Amen my Brother0 -
This ^^^^ You decide to get loans to better your education so that you can make more money, then YOU pay back the loan. You read the fine print and signed your name. Why should someone get an education using loans and then get out of paying for. Own up to what you have chosen to do. Same goes with getting loans for houses. Pay attention to what you are signing and deal with it.0
-
I agree. My dad always said to get a trade. I went to law school just so I would make enough money to pay back my loans from undergrad. I know guys that went to trade school and were loaded by the time they were 22.Sadly we are human and often do not turn our minds to the consequences of our actions. More loans = more debt just as more calories = more pounds. I still don't think it is right to condemn those who need help in rectifying their bad choices. I see this bill as trying to help people manage to pay back their loans and I think more money will be recouped this way. It is always better to empower people. If a person feels their situation is hopeless then they will not attempt to repay their loan at all.
i would like to see the feds start forcing the schools to pay back the money that got for selling worthless degrees. PT Barnum said it, there is a sucker born every minute, and some of these schools take advantage of that by allowing students with bad grades to come in and borrow money for two years to play catch up...before they even get a class that gives them any credit toward their field of study.
If you start your freshman year without knowing what your goals are, then you might as well stay home and work another year and saving all the money you can. These "General Studies" degrees are worth almost as much as a generic high school diploma and cost more than 50K in most cases.
I also think more of these kids need to consider cheaper voc-tech educations, learn a trade kids...be your own boss.0 -
I agree. My dad always said to get a trade. I went to law school just so I would make enough money to pay back my loans from undergrad. I know guys that went to trade school and were loaded by the time they were 22.
I have a 29 yr old son that got his undergrad while he was in the Marine Corps, we bought the books, USMC bought the classes. He was in for 8 years, and spent a year in Iraq. He worked as a paralegal for JAG for most of the time. He's out now and working a civilian job for DOD...and they are paying for him to go to law school. He had no student loan debt...but he was in Iraq for a year...suck factor on both is pretty high.
You can't swing a dead cat around here and not hit 25 lawyers looking for work...his job pays a whole lot better after he graduates from law school..it's not the field he really wanted to work in, but with a mortgage, a wife, and a couple of kids...you do what you have to do. I think he'll be a pretty good lawyer.
One of the guys he graduated HS with went to a local tech school to learn HVAC...and started his own company in 2004...he's rolling in it. He's a very bright and hard working kid though.0 -
No one forced us? I didn't WANT to take out a ton in student loans, but when college is $40,000 a year, you kind of have no choice. I worked my *kitten* of to get the scholarships I could and that still didn't covor the costs...I worked 2 jobs while IN college, plus a 3rd jobb part time. and I am stil over 20,000 in debt, and graduated without being able to find a job. I currently have an extremely low paying job and am living paycheck to paycheck just to pay my bills and make sure I have enough gas to get to work to pay for those bills...a little help would be amazing wth the ridiculous interest rates that they apply.
40K a year? They saw you coming. No one forced you to overpay for a college education, you overpaid because you didn't want to make the sacrifices required to attend a school you could afford. What did you get your degree in?
Suck it up, buttercup.
I agree 100%. I went to a state school and still had to take out some student loans - $8000 for 4 years. That's it! I got a great education and worked hard and have a great career in biotech, which was booming at the time. My older son joined the military and they are paying for his education at a STATE SCHOOL. He's not complaining. My younger son worked incredibly hard in high school, graduated near the top of his class and is going to a very good private school (bio/premed major) on major academic scholarships for the most part. I am paying 1/2 of the rest and the other 1/2 is student loan. We will owe <20K after he graduates and we will pay it. We signed for it and we will pay it - bottom line.0 -
Reading all these comments just makes me NOT want to go to a university. OY! :noway:0
-
HealthyHappy, Don't get us "older folk" wrong, getting a college education is a wonderful thing, but you need to be smart about it, budget think, and work hard.0
-
Wow . . . so people can potentially get their student loan debt forgiven if they've paid on it for at least 10 years? Sounds like a good deal.
I paid my loans back over 17 years.
17 YEARS
When I finished grad school I owed a huge amount of money; more than many here are listing. It was 1992 in NYC and jobs were scarce -- 14% unemployment. I worked as a waitress for nearly a year after I finished school, and eventually moved to Atlanta where the job market was better. Once I got there, I worked as a waitress for a while longer; and those loan payments were due. Guess what? I paid them along with my rent, insurance, gas, food, etc.
I remember my first "real" job -- sales. $18k draw against commission. Do you know what that means? That means I was BORROWING my salary against the hope that I would close deals successfully. I had a wreck that totaled my car. I got $5k from insurance and put it down on a $10k car; payments were $118/month. Ya. I didn't go lease a C-class Mercedes because I "deserved" luxury at age 24, people. I bought a car within my means.
During those 17 years, I sometimes had jobs, sometimes not. I had car wrecks, injuries, illnesses, deaths in my family, a divorce, even a hurricane. I had 4 kids. I had loans for cars and houses during those 17 years, and had some credit card debt too. It did not even occur to me ONCE to walk away or wriggle out of the debt that I had. I did not ask my parents or the government to pay my bills, or forgive my debt. I just figured I had signed up for it, so I would pay for it.
Life is complicated, kids. Responsibility is good.
I'm expecting each one of my kids to suck it up and WORK for their education, take loans, and pay them back. If they don't, they will get not ONE iota of sympathy from their mother.
That being said, maybe I can apply for refund of the last 7 years of payments.0 -
I'm expecting each one of my kids to suck it up and WORK for their education, take loans, and pay them back. If they don't, they will get not ONE iota of sympathy from their mother.
My wife and I both worked our way through college, and we expect our daughter to do the same. She will be encouraged to work hard in high school and apply for scholarships and grants. Providing she does well in school and earns a degree, we will help her with any student loans she needed IF we have the means to do so. I have no intention of delaying my retirement so I can pay her tuition.0 -
I agree. My dad always said to get a trade. I went to law school just so I would make enough money to pay back my loans from undergrad. I know guys that went to trade school and were loaded by the time they were 22.Sadly we are human and often do not turn our minds to the consequences of our actions. More loans = more debt just as more calories = more pounds. I still don't think it is right to condemn those who need help in rectifying their bad choices. I see this bill as trying to help people manage to pay back their loans and I think more money will be recouped this way. It is always better to empower people. If a person feels their situation is hopeless then they will not attempt to repay their loan at all.
i would like to see the feds start forcing the schools to pay back the money that got for selling worthless degrees. PT Barnum said it, there is a sucker born every minute, and some of these schools take advantage of that by allowing students with bad grades to come in and borrow money for two years to play catch up...before they even get a class that gives them any credit toward their field of study.
If you start your freshman year without knowing what your goals are, then you might as well stay home and work another year and saving all the money you can. These "General Studies" degrees are worth almost as much as a generic high school diploma and cost more than 50K in most cases.
I also think more of these kids need to consider cheaper voc-tech educations, learn a trade kids...be your own boss.
Loaded at 22 probably means different things to different people. What seems like a lot at 22, probably doesn't seem like a lot at 55. Generally, the law school route works out better than the trade school route in the long run, however t's an investment decision either way. Investment opportunities don't come with guarantees. That's the entire point. Regardless, failing to learn responsibility means failing at life.0 -
I'm expecting each one of my kids to suck it up and WORK for their education, take loans, and pay them back. If they don't, they will get not ONE iota of sympathy from their mother.
My wife and I both worked our way through college, and we expect our daughter to do the same. She will be encouraged to work hard in high school and apply for scholarships and grants. Providing she does well in school and earns a degree, we will help her with any student loans she needed IF we have the means to do so. I have no intention of delaying my retirement so I can pay her tuition.
This is a smart man0 -
This student loan absurdity is the reason the cost of attending a university has skyrocketed. If students can't afford the cost of tuition, then tuition can't rise, right? Supply and demand rules.
I'm all for reform of the student loan program, and even finding a way to clean up the waste that is Secondary education, but I'm not a fan of forgiving student loan debt right now.0 -
I'm expecting each one of my kids to suck it up and WORK for their education, take loans, and pay them back. If they don't, they will get not ONE iota of sympathy from their mother.
My wife and I both worked our way through college, and we expect our daughter to do the same. She will be encouraged to work hard in high school and apply for scholarships and grants. Providing she does well in school and earns a degree, we will help her with any student loans she needed IF we have the means to do so. I have no intention of delaying my retirement so I can pay her tuition.
This is a smart man
I think this is an outdated mindset. I think many of us young folks have already accepted the likelihood that many of us won't be retiring. I am certainly going to put my children's future above my own, because I know they will face a much tougher battle than I faced. I'm not just going to bring them into this world and let them fend for themselves because of the economic mess that previous generations have put them in. As long as they do their part, I don't expect them to go at it alone. The times of students paying their way through school are over. I suspect me and my children (both toddlers right now) will be relying on each other in the harder economic times ahead of us.0 -
I'm expecting each one of my kids to suck it up and WORK for their education, take loans, and pay them back. If they don't, they will get not ONE iota of sympathy from their mother.
My wife and I both worked our way through college, and we expect our daughter to do the same. She will be encouraged to work hard in high school and apply for scholarships and grants. Providing she does well in school and earns a degree, we will help her with any student loans she needed IF we have the means to do so. I have no intention of delaying my retirement so I can pay her tuition.
This is a smart man
I think this is an outdated mindset. I think many of us young folks have already accepted the likelihood that many of us won't be retiring. I am certainly going to put my children's future above my own, because I know they will face a much tougher battle than I faced. I'm not just going to bring them into this world and let them fend for themselves because of the economic mess that previous generations have put them in. As long as they do their part, I don't expect them to go at it alone. The times of students paying their way through school are over. I suspect me and my children (both toddlers right now) will be relying on each other in the harder economic times ahead of us.
definitely agreed. My parents were willing to go bankrupt, if necessary, to give their kids an education. My wife and I will do the same thing, if necessary.0 -
Reading all these comments just makes me NOT want to go to a university. OY! :noway:
You bring up a very good point....the university is NOT for everyone, nor is it required for happiness in life. Most of the learning in your lifetime will not happen in a classroom.0 -
I'm expecting each one of my kids to suck it up and WORK for their education, take loans, and pay them back. If they don't, they will get not ONE iota of sympathy from their mother.
My wife and I both worked our way through college, and we expect our daughter to do the same. She will be encouraged to work hard in high school and apply for scholarships and grants. Providing she does well in school and earns a degree, we will help her with any student loans she needed IF we have the means to do so. I have no intention of delaying my retirement so I can pay her tuition.
This is a smart man
I think this is an outdated mindset. I think many of us young folks have already accepted the likelihood that many of us won't be retiring. I am certainly going to put my children's future above my own, because I know they will face a much tougher battle than I faced. I'm not just going to bring them into this world and let them fend for themselves because of the economic mess that previous generations have put them in. As long as they do their part, I don't expect them to go at it alone. The times of students paying their way through school are over. I suspect me and my children (both toddlers right now) will be relying on each other in the harder economic times ahead of us.
definitely agreed. My parents were will to go bankrupt, if necessary, to give their kids an education. My wife and I will do the same, thing if necessary.
OMG, the grammar police would have a field day with this sentence. What an outcome. My wife and I go into bankruptcy to put my daughter through college, and she can't even put a decent sentence together. No thanks.0 -
I'm expecting each one of my kids to suck it up and WORK for their education, take loans, and pay them back. If they don't, they will get not ONE iota of sympathy from their mother.
My wife and I both worked our way through college, and we expect our daughter to do the same. She will be encouraged to work hard in high school and apply for scholarships and grants. Providing she does well in school and earns a degree, we will help her with any student loans she needed IF we have the means to do so. I have no intention of delaying my retirement so I can pay her tuition.
This is a smart man
I think this is an outdated mindset. I think many of us young folks have already accepted the likelihood that many of us won't be retiring. I am certainly going to put my children's future above my own, because I know they will face a much tougher battle than I faced. I'm not just going to bring them into this world and let them fend for themselves because of the economic mess that previous generations have put them in. As long as they do their part, I don't expect them to go at it alone. The times of students paying their way through school are over. I suspect me and my children (both toddlers right now) will be relying on each other in the harder economic times ahead of us.
definitely agreed. My parents were will to go bankrupt, if necessary, to give their kids an education. My wife and I will do the same, thing if necessary.
OMG, the grammar police would have a field day with this sentence. What an outcome. My wife and I go into bankruptcy to put my daughter through college, and she can't even put a decent sentence together. No thanks.
sorry, fast typing while working....any real points?0 -
i think if this bill passes then more loans will be paid back.
I agree with this. IF you look at the debt forgiveness. as long as you are paying back at least 10% of your income for 10 years then it will be forgiven. IF YOU are not paying that back then it wont be forgiven. You have to pay to have your debt forgiven
So if you believe this, then since I have been paying my mortgage on time every year for the last 7 years, should the government and bank forgive my loan and give me my house for free?
i mean, I did lose $200k in equity because of the s#itty market.0 -
sorry, fast typing while working....any real points?
Yes, my wife and I wouldn't be doing my daughter any favors by becoming a financial burden to her in our retirement.0 -
If you signed a promissory note (meaning promise) to pay back your loan you have absolutely no excuse not to do so. I'm a student loan office at a university. I struggled for years paying my own debt back and I'm still not done. But it was the trade off I made. I. Me. Myself. No one else. People need to take responsibility for their actions. You don't want to be in debt? Then don't take out the loan and go to a cheaper school. There's plenty of them out there. Don't expect me or any other taxpayer to bail you out because you are irresponsible and selfish. /rant0
-
sorry, fast typing while working....any real points?
Yes, my wife and I wouldn't be doing my daughter any favors by becoming a financial burden to her in our retirement.
creditors can't repossess an education. This education would help my daughter in the future, regardless of the hardships that my wife and I were having.0 -
Student Loan Forgiveness...please. Why should my tax money go to pay for someone else's loans? Nobody forced them to take out big loans. I had loans while in college and for a few years after I graduated but I worked my *kitten* off to get them paid off.
Same thing with the mortgage deal. It bugs me people that simply bought a house over their income level are getting bailed out. Also, the thinking of just because you're jobless you should get to keep your 2500ft/sq house screams entitlement. Find a job, work with your bank, and then, you still might have to move into something cheaper. Or *gasp* an apartment...
I do think rates should be very low for student loans. I also think too many students do not realize how hard it is to pay back those loans on a beginning salary. The schools should provide much better & realistic information on what the *REAL* cost of a student loan is. It's like going to Aarons (heard this on TV last night actually) and renting to own a $1400 living room set because it is *only* $99/month for 24 months. You wind up paying $2400 for a $1400 set of furniture. People do it because it's only $99/month. Think about TOTAL cost people! That is $1000 in interest over 2 years.
I see people convinced that they HAVE to go to a certain school that costs a ton. There are cheaper alternatives, but can ALWAYS find a reason they can't go there.
I pay for my loans, so should everybody else. Jobless? Not always the case. I see a lot of people that won't accept a job that's not in their degree or doesn't pay what they want. Flipping burgers or ringing up groceries is way better than starving & watching debt pile up. I'll shovel *kitten* if it means the difference between eating or not.
JM0 -
My point was that just because someone cannot afford to pay off their loans does not mean that it was a case of bad planning, as these days you can't assume that someone fresh out of college can even find a job to even attempt to pay off their loans.
Not always the case. I see people every day that won't accept a job because it's not what they want. You can't get a job in your field? Take what's available. It's not a perfect world, it's a terrible economy. If Wal-Mart is hiring, it's better than no job!
JM0 -
sorry, fast typing while working....any real points?
Yes, my wife and I wouldn't be doing my daughter any favors by becoming a financial burden to her in our retirement.
creditors can't repossess an education. This education would help my daughter in the future, regardless of the hardships that my wife and I were having.
So basically you are saying you have no problem with putting the burden of your hardships on others.0 -
i'm fine with paying back what i borrowed -- but the govt making 7.8% on loaning me money that never really existed in the first place... really? and dont get me started with sallie mae and their insane interest rates. i'm just glad i'm in a position to pay off my loans in the next... decade... unless interest rates keep going up.
Interest rates are supposed to double in July. =-/0 -
i'm fine with paying back what i borrowed -- but the govt making 7.8% on loaning me money that never really existed in the first place... really? and dont get me started with sallie mae and their insane interest rates. i'm just glad i'm in a position to pay off my loans in the next... decade... unless interest rates keep going up.
Interest rates are supposed to double in July. =-/
Subsidized Stafford interest rates are doubling from 3.4 to 6.8. Unsubsidized Stafford and PLUS/Graduate PLUS are staying the same.0 -
sorry, fast typing while working....any real points?
Yes, my wife and I wouldn't be doing my daughter any favors by becoming a financial burden to her in our retirement.
creditors can't repossess an education. This education would help my daughter in the future, regardless of the hardships that my wife and I were having.
So basically you are saying you have no problem with putting the burden of your hardships on others.
No, I am saying that I am prepared to make sacrifices in my standard of living to enable to have my children be better prepared for the future. Never have I implied that I would expect my children to take on my care.0 -
sorry, fast typing while working....any real points?
Yes, my wife and I wouldn't be doing my daughter any favors by becoming a financial burden to her in our retirement.
creditors can't repossess an education. This education would help my daughter in the future, regardless of the hardships that my wife and I were having.
So basically you are saying you have no problem with putting the burden of your hardships on others.
No, I am saying that I am prepared to make sacrifices in my standard of living to enable to have my children be better prepared for the future. Never have I implied that I would expect my children to take on my care.
In a world where you have a God-given right to retire, then I guess you would expect your children to take on your care.0 -
sorry, fast typing while working....any real points?
Yes, my wife and I wouldn't be doing my daughter any favors by becoming a financial burden to her in our retirement.
creditors can't repossess an education. This education would help my daughter in the future, regardless of the hardships that my wife and I were having.
So basically you are saying you have no problem with putting the burden of your hardships on others.
No, I am saying that I am prepared to make sacrifices in my standard of living to enable to have my children be better prepared for the future. Never have I implied that I would expect my children to take on my care.
No, you stated that creditors can't repo her education. So what will the be taking of yours so you can pay for her college? Your car? Your furniture? Do you think the creditors will bear the burden of your hardship by themselves?0 -
sorry, fast typing while working....any real points?
Yes, my wife and I wouldn't be doing my daughter any favors by becoming a financial burden to her in our retirement.
creditors can't repossess an education. This education would help my daughter in the future, regardless of the hardships that my wife and I were having.
So basically you are saying you have no problem with putting the burden of your hardships on others.
No, I am saying that I am prepared to make sacrifices in my standard of living to enable to have my children be better prepared for the future. Never have I implied that I would expect my children to take on my care.
In a world where you have a God-given right to retire, then I guess you would expect your children to take on your care.
I don't think you have a God-given right to retire but I think you should have the possibility of being able to save for a retirement. Both of my parents were still working when I graduated. My father was on his second career after 25 years in the military and my mother was a career RN. I took over my student loans when I got on my feet and I have assisted them with expenses as needed but I am in no way supporting them.0
Categories
- All Categories
- 1.4M Health, Wellness and Goals
- 393.4K Introduce Yourself
- 43.8K Getting Started
- 260.2K Health and Weight Loss
- 175.9K Food and Nutrition
- 47.4K Recipes
- 232.5K Fitness and Exercise
- 426 Sleep, Mindfulness and Overall Wellness
- 6.5K Goal: Maintaining Weight
- 8.5K Goal: Gaining Weight and Body Building
- 153K Motivation and Support
- 8K Challenges
- 1.3K Debate Club
- 96.3K Chit-Chat
- 2.5K Fun and Games
- 3.7K MyFitnessPal Information
- 24 News and Announcements
- 1.1K Feature Suggestions and Ideas
- 2.6K MyFitnessPal Tech Support Questions