Forgive my student loan!

taunto

I do not want to see student loans go away. I understand people have bad situations and we're in troubling times but instead of wiping off people loan, why not give them a break on interest percentage. Or, better yet, try and increase the employment rate so people have means to pay back their loans.

Wiping off student loans would be serious slap in the face for people who a) paid for their education like me and got done with education loan free b) incentive to people who took out huge loans just to drop out of classes and cash in. A lot of people have done that

Arwhite1865

What ever happened to working hard for what you want?

If graduates could find decent-paying work, they could pay off their loans. The problem is that, unlike when you went to college (and higher education was also less expense during your time), current economic conditions mean that many new grads are having to settle for working at Starbucks. I might also add that if you've gone through college, I don't think hard work is an area in which you are lacking. You are not looking for handouts.

College is not a right, but having college-educated citizens is essential to the future of this country. You think this country has problems now - wait 'til higher education becomes so expensive, inconvenient, and inaccessible that it becomes more advantageous for people to not go at all.

Arwhite1865

I do not want to see student loans go away. I understand people have bad situations and we're in troubling times but instead of wiping off people loan, why not give them a break on interest percentage. Or, better yet, try and increase the employment rate so people have means to pay back their loans.

Wiping off student loans would be serious slap in the face for people who a) paid for their education like me and got done with education loan free b) incentive to people who took out huge loans just to drop out of classes and cash in. A lot of people have done that

Good points.

staps065

I believe if you borrowed the money, you need to pay it back. Both my wife and I paid back our student loans over the 10 years allowed. I know some people borrow too much and live off the loan money and then don't feel they need to pay it back. Be responsible! You borrowed it, pay it!

I do agree that the interest rate should stay low (I think mine was 3.8%) and maybe there should be an extension due to the economy and of course, a partial forgiveness if you donate your time or work in an economically stressed, inner-city area (thinking for teachers, doctors, etc), but pay it back!

MellowGa

What ever happened to working hard for what you want?

If graduates could find decent-paying work, they could pay off their loans. The problem is that, unlike when you went to college (and higher education was also less expense during your time), current economic conditions mean that many new grads are having to settle for working at Starbucks. I might also add that if you've gone through college, I don't think hard work is an area in which you are lacking. You are not looking for handouts.

College is not a right, but having college-educated citizens is essential to the future of this country. You think this country has problems now - wait 'til higher education becomes so expensive, inconvenient, and inaccessible that it becomes more advantageous for people to not go at all.

College was cheaper during my time, but our pay was also lower, it's all relative, also I was not able to claim them as a Tax deduction like your generation can, I wish I could have.

The point is I worked TWO Jobs in College and I had loans for school, I worked my butt off.

One job was getting up at 3AM to work at a Bagel place, cook and deliver to corporate clients, be at school by 9AM, then I worked from 6PM to 10PM at a retail company.

when I Graduated i did not look for a "decent-paying" I looked for work, any work, there was a point were I barely had enough for food, thank god for Soup and pasta being a $1 a box or can, I also joined the MIlitary to help pay for my Student loans, that $10K payback was worth the 8 years of service.

You see, I hear, "I went to college and now someone should hire me and pay me a lot of money"

you got to earn it, I took the first job offered, I kept looking around for better jobs, while employed, and I landed better jobs due to my work ethic, I been with the same company (Fortune 500 CO)for the last 15 years, because of my work ethic, but I started as a teacher, then moved on to a small company, worked my way up, then a large company saw my potential and work ethic...and a degree was nice....but they liked what I had to offer and it has paid off for both parties.

What companies are seeing is that current graduates have no work experience or work ethic, they do not wish to work hard, they can't handle stressful situations, what will you do when things cave in? Will you rise up and conquer the task? or will you ask someone to bail you out?

There is a difference, i've done "generational" training while the current Generation loves school, they can't handle the pressure and they need to be told they are doing well, you can see the different generation mentality here in this thread.

Only 25% of Americans Graduate from college, be glad you have a house, a car, an oppurtunity to get a college degree, but you need to EARN it, to get respect.

wingednotes

I'm up to my ears in college debt,. Got my teaching degree.
No teaching jobs out here in NY. Anywhere. (sidenote: if you are from ny and are looking for a teacher, I'm your girl. contact me.)
With no available jobs, my husband works overtime and I get part time work subbing and teaching piano. We make it work, even with two kids.
Under no circumstances would I ever ask taxpayers to pick up yet another expense when taxes are SO HIGH to begin with so that I don't have to pay back my debt. I think that's ridiculous. I made my boat, and I have to figure out how to not sink. Why should I make an entire country sink around me? More taxing will weaken the economy even more (as people who DO have good jobs lose spending power) and the chances of me finding full time work will go down even more.

MellowGa

NY is a heavily taxed state, have you looked elsewhere? I used to live in NJ, the best move we made was when my company relocated me to GA.

Pleanty of Teaching Jobs down here

ARDuBaie

I went to school while on welfare post divorce. Had to take out loans in order to get an education to get a decent job to support two children. So, yes, I have student loans. I later went for my Masters in Nursing Education because I injured my back working the floors. More loans! So I have quite a bit to pay back. Trouble is, I have always worked in non-profit hospitals which don't pay as well as for-profit hospitals. I just found out that I can apply for cancellation of my loans because of working for non-profits hospitals. Look on the U.S. Department of Education site. It is all there and it seems only fair to help those who work in fields that are helping those who are poor, such as teaching in poorer districts, working in non-profits, being in the military, etc.

plantgrrl

When I applied for a home loan, I was approved for $400k, did I go and buy a $400K home? NO, I had to think about all the "what ifs". i couldn't bear what would happen if I lost my job and couldn't afford mortgage payments on a $400K home, so I settled on a $200K home, I was being reasonable.

"If it sounds too good to be true, it probably is"
c'mon now, people really think "Wow, I can get a $400K house, have s#itty credit and only pay $900 a month?!?!" Something has to give somewhere, people AND the banks were being greedy and stupid.

i already got stuck with a huge debt that an ex left me in ($25K), I didn't file bankruptcy (even though I could have easily got it since he was threatening to murder me and my family) but I took the responsibility, and paid it off...every single cent.

Man-up people.

MY thought exactly!

This is ridiculous. Listen...somehow we've entered into a point in society where:
1) The ability to get a student loan seems to be easier then ever, between the fed and the private market.
This, combined with certain types of schools forcing their sports programs as an essential cost (coach pay, scholarships for student athletes to get them to play for them, etc) and various other pay/capital improvements, they can charge more for tuition "for the betterment of the school."
2) We seem to have reached a point in society where no one is teaching the difference between want and need. Parents (who may not be very good at debt burden management themselves) tell their kids all the time that college pays for it's self, that college is a "seminal" experience that everyone should have, that they should "go to the "best" school they get into." But you know....I know you were 18 or whatever when you got into this, but you ALWAYS should think about the payoff on things. Research, DO I know what I want to do after college? How much does the average starting salary pay, is this job "in demand," if I want to work in this field do I realistically need to go to grad school, how bad do I "want/need" to go to the school at the "top of my list?" If I really, really want it, should I instead work part-time to achieve this goal. Never forget that you're in college to get a degree and learn, not have a good time...
But I've gone off on a tangent...
3) MOST IMPORTANT! All those countries that Pay for their citizens to go to college either (or sometimes both) have difficult qualification exams to go to college, or mandatory periods of service to the country. You know all the pretty little butterflies in this country wouldn't put up with either not getting in because the exam was "too hard" or being forced to do some good.

But I'll digress before I become a troll...

Arwhite1865

What ever happened to working hard for what you want?

If graduates could find decent-paying work, they could pay off their loans. The problem is that, unlike when you went to college (and higher education was also less expense during your time), current economic conditions mean that many new grads are having to settle for working at Starbucks. I might also add that if you've gone through college, I don't think hard work is an area in which you are lacking. You are not looking for handouts.

College is not a right, but having college-educated citizens is essential to the future of this country. You think this country has problems now - wait 'til higher education becomes so expensive, inconvenient, and inaccessible that it becomes more advantageous for people to not go at all.

College was cheaper during my time, but our pay was also lower, it's all relative, also I was not able to claim them as a Tax deduction like your generation can, I wish I could have.

The point is I worked TWO Jobs in College and I had loans for school, I worked my butt off.

One job was getting up at 3AM to work at a Bagel place, cook and deliver to corporate clients, be at school by 9AM, then I worked from 6PM to 10PM at a retail company.

when I Graduated i did not look for a "decent-paying" I looked for work, any work, there was a point were I barely had enough for food, thank god for Soup and pasta being a $1 a box or can, I also joined the MIlitary to help pay for my Student loans, that $10K payback was worth the 8 years of service.

You see, I hear, "I went to college and now someone should hire me and pay me a lot of money"

you got to earn it, I took the first job offered, I kept looking around for better jobs, while employed, and I landed better jobs due to my work ethic, I been with the same company (Fortune 500 CO)for the last 15 years, because of my work ethic, but I started as a teacher, then moved on to a small company, worked my way up, then a large company saw my potential and work ethic...and a degree was nice....but they liked what I had to offer and it has paid off for both parties.

What companies are seeing is that current graduates have no work experience or work ethic, they do not wish to work hard, they can't handle stressful situations, what will you do when things cave in? Will you rise up and conquer the task? or will you ask someone to bail you out?

There is a difference, i've done "generational" training while the current Generation loves school, they can't handle the pressure and they need to be told they are doing well, you can see the different generation mentality here in this thread.

Only 25% of Americans Graduate from college, be glad you have a house, a car, an oppurtunity to get a college degree, but you need to EARN it, to get respect.

You keep talking about how you had "TWO" jobs. That's all fine and good for you, and I never claimed that you had it easy, but my whole point was that young people today, who typically have little-to-no work experience, are 1) having problems finding jobs in the first place, so many couldn't work their way through college like you did even if they wanted to, and 2) having problems finding jobs that would get them through college without having to use student loans. You mentioned that pay was lower during your time, but again, economic conditions were also much more favorable. When kids today DO make it through college, through no fault of their own - but rather through the fault of their parents' generation - they are confronted with economic conditions that are not conducive to people like themselves landing jobs, whether they be decent-paying or not. They are competing with older people with both degrees AND experience for even menial jobs, and oftentimes they lose out. The fact that young adults are one of the hardest-hit groups in this economy is proof of that. No one's saying it's impossible, but the claim that my generation simply isn't working hard enough and that this explains why they don't have jobs is just false.

Student loan debt is not this bad because graduates spent four years of their lives going to school and then sat back and expected things to be handed to them, rather than pursuing opportunities themselves. Of course graduates are pursuing opportunities. They just spent 4 years+ EARNING their degrees and racking up student loans on which they will also have to pay interest. Why wouldn't they then put the degree that they've earned to use? If they had no work ethic or drive, they would not have a degree in the first place. As I've said, the problem is that - through no fault of their own - the opportunities are not there for recent college grads like they used to be. We're told to go to college, work hard, and then you can "get your foot in the door" somewhere. That's not as true anymore, even for minimum wage jobs that people used to turn their noses up at.
,
Frankly, I can understand both sides of the argument, but I simply take issue with people saying 1) "if you can't afford it, don't spend it", seeing as the whole reason student loans exist is because most people cannot afford a college education, but will, ideally, be able to afford to pay off the loans once they graduate and 2) "I worked my way through college and paid off every cent of my loans, so should they!", when the root of this issue is jobs in the first place. If people could find work to start paying down the loans or to work their way through college we wouldn't be having this discussion.

I'd also like to add that even if young adults are lacking in work ethic when compared to the current generation, there's something to be said for the way the current generation raised their children.

plantgrrl

I'm up to my ears in college debt,. Got my teaching degree.
No teaching jobs out here in NY. Anywhere. (sidenote: if you are from ny and are looking for a teacher, I'm your girl. contact me.)
With no available jobs, my husband works overtime and I get part time work subbing and teaching piano. We make it work, even with two kids.
Under no circumstances would I ever ask taxpayers to pick up yet another expense when taxes are SO HIGH to begin with so that I don't have to pay back my debt. I think that's ridiculous. I made my boat, and I have to figure out how to not sink. Why should I make an entire country sink around me? More taxing will weaken the economy even more (as people who DO have good jobs lose spending power) and the chances of me finding full time work will go down even more.

OMG! I'm so proud of you! This is not where I thought you were going when you started. Thank you. I'm really sorry you and all the other recent grads are in this situation, I really am, my best friend has a master's in teaching, but is currently subbing in WA state, for the last 3 or so years, but their just aren't any jobs for teachers...

I'm so glad to hear someone in your situation saying this. I feel like I'm taking crazy pills! Between everyone who whines about the HUGE mortgage they shouldn't have gotten, because they didn't save or didn't think about what to do about payments in a worst case scenario and everyone who whines about their student loan burden and how they don't want to pay it, I was starting to feel like I'm in a country with a bunch of whiny babies who don't realize that no one MADE them take these loans. You bought your overpriced bed, now lie in it! It's not pretty, but people learn a lesson and move on. If you don't like it, too bad, pay for your mistakes and don't make them again. Tell your pretty butterflies when they grow up that numbers aren't meaningless (esp. with $ in front) and that there's nothing wrong with trade schools, comm. colleges and state schools, esp. if they don't want to pay for it later in life.

plantgrrl

I believe if you borrowed the money, you need to pay it back. Both my wife and I paid back our student loans over the 10 years allowed. I know some people borrow too much and live off the loan money and then don't feel they need to pay it back. Be responsible! You borrowed it, pay it!

I do agree that the interest rate should stay low (I think mine was 3.8%) and maybe there should be an extension due to the economy and of course, a partial forgiveness if you donate your time or work in an economically stressed, inner-city area (thinking for teachers, doctors, etc), but pay it back!

Perfect!

BeautyFromPain

You borrow money, you pay it.

You have a long time to pay it back don't you? So stop complaining.



Here in australia if you decide to go to TAFE (same as uni) you can't take loans out. You have to pay outright before starting your course.

You guys in america complain about so much. At least you have the loans, at least you have free doctors, at least your gas is less than $1.60 per LITRE.

Captain_Mal

I have quite a bit of student loan debt already and I'm only half way through school.

There are ways to have your student loans repaid (or at least a portion of them) by teaching in low-income schools for a certain number of years. It's something that I definitely plan to look into after graduation. (I'm an education major).

Good luck getting that teaching job. I've been looking for 2 years now and not ecen gotten an interview. Even moved to another state.

Arwhite1865

I'm up to my ears in college debt,. Got my teaching degree.
No teaching jobs out here in NY. Anywhere. (sidenote: if you are from ny and are looking for a teacher, I'm your girl. contact me.)
With no available jobs, my husband works overtime and I get part time work subbing and teaching piano. We make it work, even with two kids.
Under no circumstances would I ever ask taxpayers to pick up yet another expense when taxes are SO HIGH to begin with so that I don't have to pay back my debt. I think that's ridiculous. I made my boat, and I have to figure out how to not sink. Why should I make an entire country sink around me? More taxing will weaken the economy even more (as people who DO have good jobs lose spending power) and the chances of me finding full time work will go down even more.

OMG! I'm so proud of you! This is not where I thought you were going when you started. Thank you. I'm really sorry you and all the other recent grads are in this situation, I really am, my best friend has a master's in teaching, but is currently subbing in WA state, for the last 3 or so years, but their just aren't any jobs for teachers...

I'm so glad to hear someone in your situation saying this. I feel like I'm taking crazy pills! Between everyone who whines about the HUGE mortgage they shouldn't have gotten, because they didn't save or didn't think about what to do about payments in a worst case scenario and everyone who whines about their student loan burden and how they don't want to pay it, I was starting to feel like I'm in a country with a bunch of whiny babies who don't realize that no one MADE them take these loans. You bought your overpriced bed, now lie in it! It's not pretty, but people learn a lesson and move on. If you don't like it, too bad, pay for your mistakes and don't make them again. Tell your pretty butterflies when they grow up that numbers aren't meaningless (esp. with $ in front) and that there's nothing wrong with trade schools, comm. colleges and state schools, esp. if they don't want to pay for it later in life.

I feel you are are simplifying people's arguments. Firstly, you can't compare the housing crisis to student loan debt. People who accept student loans do not accept them having no idea how they are going to pay them back. Student loans are unique because the education for which the student loans are paying is the means by which someone would later pay back the money. If a person has graduated college and is looking for a job, they are not "whining" and expecting handouts. They have done everything they should be doing to ensure that they are in a position to pay off the loans. However, graduates now are learning that today's economic conditions mean that you are not guaranteed a job just because they've just graduated, even though that's generally been true in the past and that's what kids are conditioned to believe all their lives.

You could argue that college is not a right, as someone else has, which is true, but seeing as college-educated people are vital to the future of this country, I think it's a rather bad argument. We have to have citizens who are going to college, and seeing as most people cannot afford college on their own, most will have to use loans. People are not complaining because they don't want to pay off what they owe; they are complaining because, due to a poor job market for new grads and young adults in general, they cannot find a WAY to pay off what they owe while the debt continues to gather interest.

songbyrdsweet

I'm looking forward to paying off my loans. I have been able to defer them for years now while I finish grad school which is a huge help. It's not even that much per month, and I have about $20,000 in loans. I'm giving back the money I borrowed. What happened to people being proud of earning an education? Places that offer super cheap education have TOTALLY different (usually failing) systems. How is loan forgiveness going to help anything? People never pay back their debt, and then...what? If they can't afford a modest monthly loan repayment they're not going to be putting any money into the economy.

grniys

I find it funny that some of you are saying that taxpayers should not have to pay for student loans BUT we ALL pay taxes for people's salaries i.e. policeman, firemen, etc. and we don't complain about that so what's the difference tax paying is tax paying if you pay for some things it shouldn't be a problem to help other people to get an education!!!!! And to the comment about nobody made people get loans is funny also because yes someone did make us get loans the schools because everyone does not have to means to pay out of pocket and who in their right mind is going to struggle and live poorly and unhappy to pay something pack that could and should be somewhat free anyway??? I don't don't get it but whatever.....

But police, fire fighters and military provide services to the community. I am a Marine wife and I don't think the (not huge) salary that my husband is paid with tax dollars to go risk his life in war zones is comparable to not wanting to pay for someone else's education. Nor do I think my friend's husband risking his life on a daily basis by pulling people out of burning buildings is comparable. Nor a police officer risking their lives to protect and serve the community.

I agree with tax breaks for student loans and low interest rates. The employment situation as a whole sucks right now, and that's awful. But our country does not have the money to pay off student loans. We are in some much debt we will drown if something doesn't change.

Arwhite1865

You borrow money, you pay it.

You have a long time to pay it back don't you? So stop complaining.



Here in australia if you decide to go to TAFE (same as uni) you can't take loans out. You have to pay outright before starting your course.

You guys in america complain about so much. At least you have the loans, at least you have free doctors, at least your gas is less than $1.60 per LITRE.

That's a generalization about more than 300 million people and not a very fair one! Everything is relative. 1). Higher education in Australia is far cheaper than higher education in America. The cost of American higher education is the second highest in the world, and that's public education I'm talking about. Private higher education is even more expensive. 2) Free doctors? That's news to me...tens of millions of Americans don't even have health insurance. Maybe you're thinking of the UK? But it's not "free" even there because it's payed for in taxes, 3). Americans are used to paying a certain amount for gas per month/year and our budgets are adjusted accordingly. What may be cheap to you may not be cheap to us, and vice versa. It's also worth noting that America is a much larger country than Australia and Americans do A LOT of driving.

TeresaWash

It took me 15 years to pay mine back. I never could have went to school without them. I repaid every penny and it wasn't easy. If we are going to start forgiving student loans then the government should make a college education FREE!

lour441

I think the interest rate is probably a bit too high. That said, if you take out the loan then pay them off. I worked 40 hours a week while I was in school so I didn't have to defer much of my education costs. When I graduated I had very little debt which was paid off pretty quick.

I think the bigger problem is you have all these kids going to very expensive schools for degrees that will probably NOT lead to well paying jobs. Then they wonder why they can't pay their bills. If you are taking out 50+k in loans to lock down that job that starts at 30k per year you are doing it wrong.