Forgive my student loan!
Replies
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I paid mine off. I shouldn't have to pay yours off too.0
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I signed it! (before this) I have 36,000+ dollars of student loan debt and with interest that number never goes down and I cannot afford to pay more than what I do....0
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By the way, I don't have any student loan debt, posted this to get opinions.0
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I have student debt. So I know the temptation to just say let others pay for it. That's just not right. You borrow the money, you repay. That being said, the interest rates are out of control. They should be illegal. Especially the unsubsidized which start running interest as soon as you borrow the money, not when you are done with school. I also think that tuition is out of control in the first place. It costs too much money to get degrees that don't end up making you much more money than if you never went to school. Finally, the government should prevent people from taking out too much money. If you're 250K in debt, you should not be allowed to borrow more money from the government. Realistically, a person will NEVER be able to repay that. That is just irresponsible.0
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I read your post. I am not sure what "no and no" is in response to. Why do you talk down to people? Clearly your $60,000 education did not buy you any class.
Why be so rude? The economy was harder hit in the states. Single parents get grants in Canada so you did have people pay for part of your education (which is also heavily subsidized in Canada).My husband and I are both about to graduate from college in like two weeks! Neither of us could get a job all throughout school and we do not have jobs lined up after we get out of school. We both went into demanding career fields, Automotives for me and Electronics Engineering for him. We went to a community college, I have no family to speak of and his family can't afford to help us due to his sister's mistakes. I am on welfare, I have medicaid, foodstamps, pell grants, and daycare assistance. We together have racked up $18,500 in debt. We have six months after we graduate to find jobs before we have to pay back our student loans. I came from a very poor, horrible childhood where I raised two kids while I was still a kid myself. He came from a broken home and a difficult childhood also. We have worked damn hard and very lived poorly throughout school, which yes our student loans and our pell grants paid for our 3 bedroom housing (which we had gotten with a roommate who is now gone), vehicle ($900 + gas and parts), books, school supplies and tuition.
DO I THINK MY LOANS SHOULD HAVE TO BE PAID BACK.
HELL NO!
I would rather somebody give my husband and I jobs but if that can't happen then yeah I would like them to at least be put on hold till I can get a job but if that can't happen and it won't (money grubbing companies) then I guess my only option is to have them forgiven.
P.S. Before you say that we haven't gotten jobs because we haven't worked hard enough to find one ( I check into monster.com and indeed.com everyday, I apply and so does my husband to every job we are qualified for including ones where I would have been qualified for in high school) it is because we are losing out to older people with experience and degrees and a bi-polar teacher who can not make up his mind whether I work my a** off or whether I let all the guys do work for me. So I don't want to hear that this is my fault or that I didn't work hard enough you don't know my situation so don't pretend you do.
RANT OVER!
So what?
I had a horrible impoverished childhood, took on $60,000 in loans as a single parent of one, didn't have a job upon graduation and GASP!! I didn't whine and complain and play the victim. I did what I needed to do because failure was not an option. I'm six years into the 10 year repayment period and have not missed a payment nor have I expected someone else to pay it for me.
No and no. It goes back to my previous post. Read it. I also realize you might have reading comprehension problems, so read my second post again.
I wasn't heavily subsidized nor subsidized at all, and you are making assumptions about the economy here. Your reading comprehension fail was that the poster was whining about a 18K debt load, and you were claiming I was subsidized and therefore was "rude" but failed to note that my debt was three times as much.
I have plenty of class, however I have a strong BS detector and will call it out. I don't buy the excuses, and just because you don't like it doesn't mean I owe it to you to protect your e-feelings or anyone else's e-feelings. Perhaps you should focus less on the e-meanies being rude and spend more time figuring out how to repay your loans.0 -
Why does everyone need the government to step in and fix all their problems. We live in a free market society.
No we don't. We live in a corporate controlled society where big business owns Congress and writes the laws that "govern" them. We live in a society where big oil gets massive tax credits and the effective corporate tax rates are so low that companies like GE pay no taxes at all. The "free market" is a theoretical construct used by economists in creating and testing models. There is no such thing as a free market. Never has been. Never will be. The problem that the government needs to address is high interest rates, predatory collection practices, excessive fees and penalties, and the bankruptcy code. It's a travesty that the rich can declare bankruptcy and wipe out or dramatically restructure their debt but student loans are off the table? Wall Street caused most of the economic issues we are facing now but it's the taxpayers who are on the hook. Financial deregulation was the culprit. Now, the rest of the country is struggling to find work or to find work at a livable wage. The assault on unions, teachers, public servants, and the middle class continues but the rich keep getting tax cuts, tax credits, and special favors from Congress. I agree that students need to pay back their loans but students need relief. They need lowered interest rates, elimination of excessive penalties and fees, and consolidation options to spread the loans out over much longer periods of time. Taxpayers should be more than willing to help out because if we don't, our future tax base will be so far underwater they will never come to the surface. We can pay now or pay a much higher price later.0 -
I paid mine off. I shouldn't have to pay yours off too.
I think you should. Thanks in advance!
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Wow . . . a can of worms were opened with this topic!! LOL, I respect ALL opinions, but since I'm a grad school student (with a full-time job), I'll keep my opinions to myself (cause I'm "scured." LOL0
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Here's the interesting thing--the banks/lending firms are loaning you money they don't even have. They are counting on the fact that the interest you pay back will make them break even. "Forgiving" your student loan just means that they won't get the credit back. They have nowhere near that much physical money in their vaults. We might as well be playing with Monopoly money.0
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I paid mine off. I shouldn't have to pay yours off too.
I think you should. Thanks in advance!
LOL!0 -
Why does everyone need the government to step in and fix all their problems. We live in a free market society.
No we don't. We live in a corporate controlled society where big business owns Congress and writes the laws that "govern" them. We live in a society where big oil gets massive tax credits and the effective corporate tax rates are so low that companies like GE pay no taxes at all. The "free market" is a theoretical construct used by economists in creating and testing models. There is no such thing as a free market. Never has been. Never will be. The problem that the government needs to address is high interest rates, predatory collection practices, excessive fees and penalties, and the bankruptcy code. It's a travesty that the rich can declare bankruptcy and wipe out or dramatically restructure their debt but student loans are off the table? Wall Street caused most of the economic issues we are facing now but it's the taxpayers who are on the hook. Financial deregulation was the culprit. Now, the rest of the country is struggling to find work or to find work at a livable wage. The assault on unions, teachers, public servants, and the middle class continues but the rich keep getting tax cuts, tax credits, and special favors from Congress. I agree that students need to pay back their loans but students need relief. They need lowered interest rates, elimination of excessive penalties and fees, and consolidation options to spread the loans out over much longer periods of time. Taxpayers should be more than willing to help out because if we don't, our future tax base will be so far underwater they will never come to the surface. We can pay now or pay a much higher price later.
Dingding! Correct. But if they lower interest rates, they won't be able to loan out as much money. We either get lots of loans and pay them back, or get less money to begin with.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.
Glad you were able to find that sort of high-paying job just out of college...
But more to the point, though my student loans do make life difficult, I'm not sure that it'd really end up helping the economy most to forgive them. It'd do more good than tax breaks, but would I turn around and spend that money back into the greater financial world? I have my doubts.
High paying job just out of college? Please don't assume you know my situation. I worked full time in high school to save money for college, 2 jobs while taking a full load in college (and not exactly an easy school...Georgia Tech), and 2 jobs after graduating. Not only did I work very hard to get out of debt but I worked hard to avoid it as much as possible in the first place. I just don't understand the mindset that says I should be forced to pay for someone else's education when most (not all) of them aren't working as hard as I did.
And forgiving student loans better than tax breaks?? A tax break isn't a handout...forgiving student loans is. A tax break is allowing someone to keep more of their own money. It's not the govt's money...it's our money. We already give too much to the govt.
Bump.0 -
I'm Canadian, but I did have a student loan to attend vocational college here over 10 years ago. I couldn't pay off all I owed back because of the fact I ended up on disability payments so I found out I was able to get mine forgiven by my provincial government. I was lucky there, a lot of other students are still paying up where I am...0
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Here, I'll sum up this situation:
Previous generation: Go to college, it's the only way to make something of yourself, you'll be a loser if you don't, and we'll disown you!
Child: But I can't afford it!
Previous generation: Here, here's some grants, and scholarships, and loans! You'll have no trouble now!
-previous generation screws up economy, votes for idiot politicians, etc...-
-child goes to college, graduates-
Child-there's not jobs, I can't repay my loans, even Burger King won't hire me!
Previous generation: Oh well, that's not my problem. Nobody made you go to college. Here's your loan bill.
Jobs wouldn't be so hard to get if they didn't require outrageous amounts of experience. 3+ for cashiers, servers, 5+ for secretaries and assistants...I've seen one that required 7 years experience, for a JANITOR. And it's not like you can follow your grandparents advice of 'shaking their hand and staring them in the eyes', since most are online applications or email/fax resumes ONLY. If you call or go in, you won't even be considered.
About forgiveness, I don't really care either way. I have loans, but since I don't have a job I just keep putting them in deferment. I'm hoping to die before I have to pay them back. Oh, and this is from a community college, while living at home and being poor. Even with the pell grants that covered the tuition and most of the books, I still couldn't afford the gas to get their since it's so far away, or the supplies some classes required. We don't have the luxury of buses and subways in rural Georgia, and with a 60 mile round-trip distance, walking and biking would be a stupid option. I only had classes two days a week to save money, and with being full time, i was there pretty much all day. I even stopped going and started online classes for a few semesters, but I still have to go test a few times a month, and I have to pay for access codes for certain programs used, so the cost didn't change a whole lot. 0 -
Here's the interesting thing--the banks/lending firms are loaning you money they don't even have. They are counting on the fact that the interest you pay back will make them break even. "Forgiving" your student loan just means that they won't get the credit back. They have nowhere near that much physical money in their vaults. We might as well be playing with Monopoly money.
That's how the system works. Loaned money is how we create money (absent just printing more). The reserve rate sets the percentage of deposited funds that a banking institution has to keep on hand. The rest is loaned. That is new money. Money isn't a zero sum game.
I am all for banks, especially the large Wall Street variety, being tightly regulated (end this derivative, CDO, CDS madness and separate commercial and investment banks like they used to be) and I want nothing more than to see the greedy thieves who engineered the mortgage crisis and derivative ponzi schemes perp walked to prison. But, banks will always loan money they don't have. That's the way the system is set up.0 -
For all the people with student loans and want them forgiven, please answer the following questions:
Do you have a cell phone with data plan?
Do you have cable or satellite tv?
Do you eat out at restaurants?
Do you have a newer car?
If the answer is yes to any of the above then you have no right to ask other taxpayers to pay for your student loans. Give up the above things and pay off your obligations.
Getting the student loans was a choice you made. You agreed to repay them. You signed the contract and agreed to the terms. It's that simple.
However, I do agree that in some cases, payment can be deferred but never forgiven completely.
Disclaimer: For people with legitimate disabilities, assistance paying off student loans is a completely different discussion.0 -
Why does everyone need the government to step in and fix all their problems. We live in a free market society.
No we don't. We live in a corporate controlled society where big business owns Congress and writes the laws that "govern" them. We live in a society where big oil gets massive tax credits and the effective corporate tax rates are so low that companies like GE pay no taxes at all. The "free market" is a theoretical construct used by economists in creating and testing models. There is no such thing as a free market. Never has been. Never will be. The problem that the government needs to address is high interest rates, predatory collection practices, excessive fees and penalties, and the bankruptcy code. It's a travesty that the rich can declare bankruptcy and wipe out or dramatically restructure their debt but student loans are off the table? Wall Street caused most of the economic issues we are facing now but it's the taxpayers who are on the hook. Financial deregulation was the culprit. Now, the rest of the country is struggling to find work or to find work at a livable wage. The assault on unions, teachers, public servants, and the middle class continues but the rich keep getting tax cuts, tax credits, and special favors from Congress. I agree that students need to pay back their loans but students need relief. They need lowered interest rates, elimination of excessive penalties and fees, and consolidation options to spread the loans out over much longer periods of time. Taxpayers should be more than willing to help out because if we don't, our future tax base will be so far underwater they will never come to the surface. We can pay now or pay a much higher price later.
Dingding! Correct. But if they lower interest rates, they won't be able to loan out as much money. We either get lots of loans and pay them back, or get less money to begin with.
Or, the reserve rate is adjusted so they don't have to keep as many funds on hand. Not sure what the reserve rate is right now (and it's probably pretty small already) but with strict financial regulation and a separation of commercial and investment banks, we should be able to tolerate the risk. Derivatives and other synthetic debt obligations should be subject to extremely strict scrutiny and regulation. As it is now, it's a rigged casino where they always win and we always lose.0 -
My husband and I are both about to graduate from college in like two weeks! Neither of us could get a job all throughout school and we do not have jobs lined up after we get out of school. We both went into demanding career fields, Automotives for me and Electronics Engineering for him. We went to a community college, I have no family to speak of and his family can't afford to help us due to his sister's mistakes. I am on welfare, I have medicaid, foodstamps, pell grants, and daycare assistance. We together have racked up $18,500 in debt. We have six months after we graduate to find jobs before we have to pay back our student loans. I came from a very poor, horrible childhood where I raised two kids while I was still a kid myself. He came from a broken home and a difficult childhood also. We have worked damn hard and very lived poorly throughout school, which yes our student loans and our pell grants paid for our 3 bedroom housing (which we had gotten with a roommate who is now gone), vehicle ($900 + gas and parts), books, school supplies and tuition.
DO I THINK MY LOANS SHOULD HAVE TO BE PAID BACK.
HELL NO!
I would rather somebody give my husband and I jobs but if that can't happen then yeah I would like them to at least be put on hold till I can get a job but if that can't happen and it won't (money grubbing companies) then I guess my only option is to have them forgiven.
P.S. Before you say that we haven't gotten jobs because we haven't worked hard enough to find one ( I check into monster.com and indeed.com everyday, I apply and so does my husband to every job we are qualified for including ones where I would have been qualified for in high school) it is because we are losing out to older people with experience and degrees and a bi-polar teacher who can not make up his mind whether I work my a** off or whether I let all the guys do work for me. So I don't want to hear that this is my fault or that I didn't work hard enough you don't know my situation so don't pretend you do.
RANT OVER!
So what?
I had a horrible impoverished childhood, took on $60,000 in loans as a single parent of one, didn't have a job upon graduation and GASP!! I didn't whine and complain and play the victim. I did what I needed to do because failure was not an option. I'm six years into the 10 year repayment period and have not missed a payment nor have I expected someone else to pay it for me.
You are failing to see the point. This isn't about people whining, complaining and playing the victim... It's about the fact that people having trouble finding a job after college is a wide spread problem.. and if it doesn't get better there will be more issues that stem from it. (and so you don't yell at me.. I'm not for this bill... I am, however, strongly in favor of dramatic education reform)
I get the point. But the poster I quoted IS playing the victim. Please read my 1st post again where I stated there is NO guarantee of a job after college regardless of the economy. Also I believe the economy fell apart in 2008, 4 years ago, when most of these people would have been just starting college, so the lack of prospects shouldn't come as any surprise.
Maybe that poster was being whiny... I'm just pointing out that there are bigger issues at stake than "I don't want to pay for the education I received". Don't assume anything about another poster, I started college before 2008
I started and finished my first degree during the economic slump of the early 90s. I had student loans. I didn't have a job. I still paid them back and didn't expect the government to forgive them. Those loans are paid off. My second degree was started and finished before the current slump. I happen to be living in the same economy as everyone else here, still paying back my $60K in loans from that degree, and I don't expect the government to repay them.
I'm sorry but as I said before, college education and loans are a risk with no guarantees. You choose to take these on, knowing full well they may not pay off and that you are required to pay them back. That would be the proper time to put a game plan in place in case you don't get a job afterward. If you can't reconcile how you would support yourself and your loans post degree if you didn't get a job (which again isn't guaranteed) then perhaps a college education isn't your best choice.
I agree... which is part of why I don't like this bill.0 -
I read your post. I am not sure what "no and no" is in response to. Why do you talk down to people? Clearly your $60,000 education did not buy you any class.
Why be so rude? The economy was harder hit in the states. Single parents get grants in Canada so you did have people pay for part of your education (which is also heavily subsidized in Canada).My husband and I are both about to graduate from college in like two weeks! Neither of us could get a job all throughout school and we do not have jobs lined up after we get out of school. We both went into demanding career fields, Automotives for me and Electronics Engineering for him. We went to a community college, I have no family to speak of and his family can't afford to help us due to his sister's mistakes. I am on welfare, I have medicaid, foodstamps, pell grants, and daycare assistance. We together have racked up $18,500 in debt. We have six months after we graduate to find jobs before we have to pay back our student loans. I came from a very poor, horrible childhood where I raised two kids while I was still a kid myself. He came from a broken home and a difficult childhood also. We have worked damn hard and very lived poorly throughout school, which yes our student loans and our pell grants paid for our 3 bedroom housing (which we had gotten with a roommate who is now gone), vehicle ($900 + gas and parts), books, school supplies and tuition.
DO I THINK MY LOANS SHOULD HAVE TO BE PAID BACK.
HELL NO!
I would rather somebody give my husband and I jobs but if that can't happen then yeah I would like them to at least be put on hold till I can get a job but if that can't happen and it won't (money grubbing companies) then I guess my only option is to have them forgiven.
P.S. Before you say that we haven't gotten jobs because we haven't worked hard enough to find one ( I check into monster.com and indeed.com everyday, I apply and so does my husband to every job we are qualified for including ones where I would have been qualified for in high school) it is because we are losing out to older people with experience and degrees and a bi-polar teacher who can not make up his mind whether I work my a** off or whether I let all the guys do work for me. So I don't want to hear that this is my fault or that I didn't work hard enough you don't know my situation so don't pretend you do.
RANT OVER!
So what?
I had a horrible impoverished childhood, took on $60,000 in loans as a single parent of one, didn't have a job upon graduation and GASP!! I didn't whine and complain and play the victim. I did what I needed to do because failure was not an option. I'm six years into the 10 year repayment period and have not missed a payment nor have I expected someone else to pay it for me.
No and no. It goes back to my previous post. Read it. I also realize you might have reading comprehension problems, so read my second post again.
I wasn't heavily subsidized nor subsidized at all, and you are making assumptions about the economy here. Your reading comprehension fail was that the poster was whining about a 18K debt load, and you were claiming I was subsidized and therefore was "rude" but failed to note that my debt was three times as much.
I have plenty of class, however I have a strong BS detector and will call it out. I don't buy the excuses, and just because you don't like it doesn't mean I owe it to you to protect your e-feelings or anyone else's e-feelings. Perhaps you should focus less on the e-meanies being rude and spend more time figuring out how to repay your loans.
e-feelings... love it0 -
For all the people with student loans and want them forgiven, please answer the following questions:
Do you have a cell phone with data plan?
Do you have cable or satellite tv?
Do you eat out at restaurants?
Do you have a newer car?
If the answer is yes to any of the above then you have no right to ask other taxpayers to pay for your student loans. Give up the above things and pay off your obligations.
Getting the student loans was a choice you made. You agreed to repay them. You signed the contract and agreed to the terms. It's that simple.
However, I do agree that in some cases, payment can be deferred but never forgiven completely.
Disclaimer: For people with legitimate disabilities, assistance paying off student loans is a completely different discussion.
No
No
No
And, no.0 -
Here's the interesting thing--the banks/lending firms are loaning you money they don't even have. They are counting on the fact that the interest you pay back will make them break even. "Forgiving" your student loan just means that they won't get the credit back. They have nowhere near that much physical money in their vaults. We might as well be playing with Monopoly money.
Most "credit" does not exist, but it's a contract/promise to pay. Whether it's real or not, SOMEONE will be responsible for paying for that promise. If a promise is broken, then other people have to pick up the slack - whether it's paying other people's student loans through taxation or paying higher prices for clothes because someone didn't pay their credit card charges.
Breaking promises to pay contributes to inflation which affects everyone.
I say we should all pay our own bills and make our own way.
By the way, for perspective - I started out with nothing, worked 2 crappy low-paying jobs while in school, got a crappy low-paying job after school, worked my *kitten* off, became a manager in a large company, lost my job, took any crappy low-paying job I could find (painted houses in the rich neighborhoods for peanuts), lived in a garage, learned to save every single penny.
It's just part of life, but choosing to do the right thing and pay your own bills and not break promises is what will make you proud of yourself as you get older.
Being dependent on other people to pick up your pieces and depending on government to take care of you will not.
Just my two cents.0 -
I don't think they should be forgiven. I do think refinance provisions should be available to make them affordable. I don't understand all the people who claim them borrowed $40k, but will end up paying back $200k or similar. Pay a fair interest rate.0
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I am sorry, I was under the impression that you went to school and worked in Canada where education is heavily subsidized. I just finished my J.D. in Canada and have a job and the ability to pay my loans. I try not to judge people who are not so fortunate. Many people are stuck in a bad situation and need help. Be thankful that you have the ability to pay your loans.
I read your post. I am not sure what "no and no" is in response to. Why do you talk down to people? Clearly your $60,000 education did not buy you any class.
Why be so rude? The economy was harder hit in the states. Single parents get grants in Canada so you did have people pay for part of your education (which is also heavily subsidized in Canada).My husband and I are both about to graduate from college in like two weeks! Neither of us could get a job all throughout school and we do not have jobs lined up after we get out of school. We both went into demanding career fields, Automotives for me and Electronics Engineering for him. We went to a community college, I have no family to speak of and his family can't afford to help us due to his sister's mistakes. I am on welfare, I have medicaid, foodstamps, pell grants, and daycare assistance. We together have racked up $18,500 in debt. We have six months after we graduate to find jobs before we have to pay back our student loans. I came from a very poor, horrible childhood where I raised two kids while I was still a kid myself. He came from a broken home and a difficult childhood also. We have worked damn hard and very lived poorly throughout school, which yes our student loans and our pell grants paid for our 3 bedroom housing (which we had gotten with a roommate who is now gone), vehicle ($900 + gas and parts), books, school supplies and tuition.
DO I THINK MY LOANS SHOULD HAVE TO BE PAID BACK.
HELL NO!
I would rather somebody give my husband and I jobs but if that can't happen then yeah I would like them to at least be put on hold till I can get a job but if that can't happen and it won't (money grubbing companies) then I guess my only option is to have them forgiven.
P.S. Before you say that we haven't gotten jobs because we haven't worked hard enough to find one ( I check into monster.com and indeed.com everyday, I apply and so does my husband to every job we are qualified for including ones where I would have been qualified for in high school) it is because we are losing out to older people with experience and degrees and a bi-polar teacher who can not make up his mind whether I work my a** off or whether I let all the guys do work for me. So I don't want to hear that this is my fault or that I didn't work hard enough you don't know my situation so don't pretend you do.
RANT OVER!
So what?
I had a horrible impoverished childhood, took on $60,000 in loans as a single parent of one, didn't have a job upon graduation and GASP!! I didn't whine and complain and play the victim. I did what I needed to do because failure was not an option. I'm six years into the 10 year repayment period and have not missed a payment nor have I expected someone else to pay it for me.
No and no. It goes back to my previous post. Read it. I also realize you might have reading comprehension problems, so read my second post again.
I wasn't heavily subsidized nor subsidized at all, and you are making assumptions about the economy here. Your reading comprehension fail was that the poster was whining about a 18K debt load, and you were claiming I was subsidized and therefore was "rude" but failed to note that my debt was three times as much.
I have plenty of class, however I have a strong BS detector and will call it out. I don't buy the excuses, and just because you don't like it doesn't mean I owe it to you to protect your e-feelings or anyone else's e-feelings. Perhaps you should focus less on the e-meanies being rude and spend more time figuring out how to repay your loans.0 -
I paid for my own education (B.S. and M.S.) and covered my three kids tuition for their BA, BFA, and BS. pay your own loans!0
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For all the people with student loans and want them forgiven, please answer the following questions:
Do you have a cell phone with data plan?
Do you have cable or satellite tv?
Do you eat out at restaurants?
Do you have a newer car?
If the answer is yes to any of the above then you have no right to ask other taxpayers to pay for your student loans. Give up the above things and pay off your obligations.
Getting the student loans was a choice you made. You agreed to repay them. You signed the contract and agreed to the terms. It's that simple.
However, I do agree that in some cases, payment can be deferred but never forgiven completely.
Disclaimer: For people with legitimate disabilities, assistance paying off student loans is a completely different discussion.
My car is paid off, I do not have cable, I do not eat out unless its a special occasion,but I do have a cell phone with a data plan.. that is $80 a month. I do not have a home phone, (about $30 a month), so $50 dollars a month extra I could pay in student loans... $36000/50= 720 months=60 years... I see your point.
The student loan forgiveness doesn't mean that it completely goes away.
"H.R. 4170 would forgive student loan debt for those who have paid 10 percent of their discretionary income toward their loans for 10 years and would cap interest on federal student loans at the current rate of 3.4 percent. Individuals who go into teaching, public service or practice medicine in underserved areas would have their debt forgiven after only five years."-huffington post0 -
I think it is ridiculous that we call people with a 4 year degree "educated"... back in the early 1900's when school was hard I think that was a good use of the term. Now anyone who shows up and puts in 1/8 of the effort required can get a degree.
I believe that is an extremely unfair assessment on your part, and it legitimately offends me, and I don't even have my college degree yet. There are millions of people who are astoundingly intelligent that never stepped foot inside a university and would be considered educated. You don't need overpriced classes taught by lethargic professors on tenure to be considered "educated."
^^^^^^ THANK YOU! I have worked my *kitten* off in school for the past 6 years! But I wouldn't have traded it for anything. I am walking across that stage in May knowing that I am WELL educated from attending a reputable college. You can't assume that everyone just goes to college and half *kitten* it and earns a degree. If you did that at my college, you wouldn't pass.
Agreed. I work my *kitten* off in school.
Wait till you get a job and half your co-workers with 4 year degrees and masters degrees don't know their head from their a** you learn really quick that it doesn't make someone educated!
College teaches you more than just your course of study, it also teaches you how to approach learning, how to prioritize and how to further educate yourself. While new graduates with a four year degree may not know as much in a given field as someone who entered the field directly after high school, their upside potential and learning curve are both substantially higher.
Sounds like the type of sales pitch that put a lot of kids 40k in student loan debt. Your company could give a crap about anything but results... and if they do you would be better off working at another company. As for the cultured angle... for 40k you could travel the world and learn a lot more than any book will teach you.0 -
Here's the interesting thing--the banks/lending firms are loaning you money they don't even have. They are counting on the fact that the interest you pay back will make them break even. "Forgiving" your student loan just means that they won't get the credit back. They have nowhere near that much physical money in their vaults. We might as well be playing with Monopoly money.
That's how the system works. Loaned money is how we create money (absent just printing more). The reserve rate sets the percentage of deposited funds that a banking institution has to keep on hand. The rest is loaned. That is new money. Money isn't a zero sum game.
That sort of system just seems bound to fail.. oh.. wait.0 -
I think it is ridiculous that we call people with a 4 year degree "educated"... back in the early 1900's when school was hard I think that was a good use of the term. Now anyone who shows up and puts in 1/8 of the effort required can get a degree.
I believe that is an extremely unfair assessment on your part, and it legitimately offends me, and I don't even have my college degree yet. There are millions of people who are astoundingly intelligent that never stepped foot inside a university and would be considered educated. You don't need overpriced classes taught by lethargic professors on tenure to be considered "educated."
^^^^^^ THANK YOU! I have worked my *kitten* off in school for the past 6 years! But I wouldn't have traded it for anything. I am walking across that stage in May knowing that I am WELL educated from attending a reputable college. You can't assume that everyone just goes to college and half *kitten* it and earns a degree. If you did that at my college, you wouldn't pass.
Agreed. I work my *kitten* off in school.
Wait till you get a job and half your co-workers with 4 year degrees and masters degrees don't know their head from their a** you learn really quick that it doesn't make someone educated!
College teaches you more than just your course of study, it also teaches you how to approach learning, how to prioritize and how to further educate yourself. While new graduates with a four year degree may not know as much in a given field as someone who entered the field directly after high school, their upside potential and learning curve are both substantially higher.
Sounds like the type of sales pitch that put a lot of kids 40k in student loan debt. Your company could give a crap about anything but results... and if they do you would be better off working at another company. As for the cultured angle... for 40k you could travel the world and learn a lot more than any book will teach you.
I don't see the point in insulting anyone's education. And the thing is... traveling around the world might teach you alot about the world... but unless you have a degree too, you still won't find a job that has anything to do with what you have "learned". Companies want that degree... like or not... that piece of paper still matters0 -
Wow.....tough to respond to this one....I have 2 degrees, have always worked 2 or 3 jobs, drive a '98 car, do not have kids, live in a tiny place, and watch my money and spending closely.....YET I STILL HAVE Student Loans for 18 more years!0
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This is a pretty simple answer.
If you signed your name on the dotted line, regardless if you knew what you were getting into, then you are obligated to pay it back.
Its called fiscal responsibility, and if you dont have it, you dont deserve to be in college anywyas.
Its the same with the housing crisis. The homeowners who went and lived way outside of their means, got ARM loans, signed them, got the money and got the house with no way of actually being able to pay it back are just as much to blame as the predatory lending. Ignorance of what you are signing is not an excuse to be forgiven on debt. IYou think one would take more responsibility when getting into debts of 100k +. I have very little sympathy for them.
Also, people who go to college for what they "want" to do have no business complaining about not being able to get a job....Liberal Arts major? Get a degree in something relevant. As of right now I CANNOT fill software engineer positions fast enough. I have had job recs open for 18 months, but the competition is fierce trying to get top talent.
Oh and regardless of what the PC police and the government told you, not all people are created equal. There are ugly people, beautiful people, stupid people and smart people. The playing field is not fair, but life is not fair. There is always going to be someone, smarter, better looking, and that makes more money than you.
People need to stop with the "want" in this country. Bunch of self-entitled babies have been raised in the last 30 years, and I am glad I didnt go that route. Life is tough, deal with it. If your parents didnt teach you this, your screwed.0
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