Forgive my student loan!
Replies
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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.
No, the sales pitch was that you can't get a salaried job unless you go to college. I never mentioned anything about cultured. I'm as crass as they come and learned most of my "culture" from growing up in the military.
My company is rather successful and demands college degree as a minimum. Part of demanding this college degree is to show that you can work and complete something that is rather time consuming and difficult.
Also, I know plenty of people who chose not to go to college but rather go straight into the workforce. They were making substantially more money than me when I entered the workforce but their career arc had stagnated due to barriers preventing them from moving up without degrees. Some chose to finally go to school and have moved up, others just stayed where they were.
There is nothing bad about a college education. It is good and imperative to have an educated populace. One of the unfortunate side effects of politics in a down economy is that candidates will condemn people with a college education as elitist or intellectuals.0 -
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.
Exactly! I couldn't agree more.0 -
One quick thought - I am going to school part-time, taking classes as I can save up the cash to pay for them outright. It's def slower then taking out loans. HOWEVER - I appreciate the education I am getting now 100 times more then when I was younger and took out loans right out of high school. I try my hardest to keep my 4.0, since I know that if I fail a class, NO ONE is going to be there to bail me out and pay for me to re take it.
We are working on paying off all of our debt (student loans included) from when we were younger and much more stupid with our finances. Does it suck right now, living paycheck to paycheck - putting every extra penny towards paying off debt? Hell yes. Do I want someone to come along and wave a magic wand and say, "all your student loans are now forgiven!" Hell no. That's my debt. My responsibility.
When I was 18 I didn't quite grasp the severity of taking out student loans, and how I'd have to work like a pack mule to pay them off. 10 years later, I get it, and I want them gone - but not because of a hand out! That's why our country is so screwed as it is! Everyone has this cradle to grave welfare mentality. Guess what, life is unfair. Get a helmet, and get the heck over it! You want something bad enough - you'll get off your butt and figure out a way to get it.
Otherwise you are just making excuses. Funny how this conversation applies to weight loss as well. Stop getting FAT off of Government handouts(welfare, loans, etc.), and start getting FIT by your own hard work and determination.0 -
I paid mine off. I shouldn't have to pay yours off too.
I think you should. Thanks in advance!
Awsome reponse. This country will pay for murderers, drug dealers, and molesters to being given free room & board, free meals everyday, free health care, and free education in prison, however ask them to consider helping people out who may have not had the best luck, and if you're like me, have worked up to 3 jobs at once to try and make ends meet while still having a 3.95 GPA while taking 22 credit hours, I guess is absolutely insane. Then when you do find work and are trying to pay everything you owe, the second you get ahead, something happens to your car or if your like my husband and me, lose both your jobs at the same time and can't find work for almost a year. The only way we survived is with the help of a family member who happened to have enough money to help us cover the essentials.
Geniuenly, kudos to everyone who busted their *kitten* to pay for their own college, and graduate with no loans at all. You guys should be extrememly proud of what you've accomplished and realize that not many people at all are able to do that. However, I don't give kudos to those kids who are taking advantage of their parents who pay for everything and they don't even seem greatful in the slightest and who don't try in school or even better don't show up at all.
I've always had the type of luck where the second I get even the slightest ahead, something comes up and I have to pay out everything that I've saved to date. I don't believe in a full forgiveness solution for student loans, however, I do think that there should be alternative options such as a partial forgiveness for a certain amount of payments paid. I also believe that there should be more education to college students and potential students, reviewing the consequences of the types of school they go to. I am so grateful that at my last chance, I switched from a private university going at 40k a year, to a community college for only 7k a year. Schools don't take the initiative to inform students of what their payments will be when they are done. I know I didn't receive any of that type of information until I got my loans review documents when I finished school.
I do think that when this country finally change, higher education should be free to all with certain criteria being met such as examinations or service to the country. I know if I was told, hey, your education will be free if you do......, I would do anything to try and finish school with no debt at all.0 -
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.
<<~~~Liberal Arts Major here. Had $26,000 debt that I paid off in 7 years with my amazing job. You're going to tell me my degree isn't relevant?0 -
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.
Exactly! I couldn't agree more.
PREACH IT! 100% Agree.0 -
One quick thought - I am going to school part-time, taking classes as I can save up the cash to pay for them outright. It's def slower then taking out loans. HOWEVER - I appreciate the education I am getting now 100 times more then when I was younger and took out loans right out of high school. I try my hardest to keep my 4.0, since I know that if I fail a class, NO ONE is going to be there to bail me out and pay for me to re take it.
We are working on paying off all of our debt (student loans included) from when we were younger and much more stupid with our finances. Does it suck right now, living paycheck to paycheck - putting every extra penny towards paying off debt? Hell yes. Do I want someone to come along and wave a magic wand and say, "all your student loans are now forgiven!" Hell no. That's my debt. My responsibility.
When I was 18 I didn't quite grasp the severity of taking out student loans, and how I'd have to work like a pack mule to pay them off. 10 years later, I get it, and I want them gone - but not because of a hand out! That's why our country is so screwed as it is! Everyone has this cradle to grave welfare mentality. Guess what, life is unfair. Get a helmet, and get the heck over it! You want something bad enough - you'll get off your butt and figure out a way to get it.
Otherwise you are just making excuses. Funny how this conversation applies to weight loss as well. Stop getting FAT off of Government handouts(welfare, loans, etc.), and start getting FIT by your own hard work and determination.
Thats how you get ahead in life! Pure hard work and determination and owning up to past mistakes and not repeating moving forward.0 -
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.
<--- Philosophy and Religion here. I'm doing quite well for myself. Still have some loans but not looking to get bailed out.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.
No, the sales pitch was that you can't get a salaried job unless you go to college. I never mentioned anything about cultured. I'm as crass as they come and learned most of my "culture" from growing up in the military.
My company is rather successful and demands college degree as a minimum. Part of demanding this college degree is to show that you can work and complete something that is rather time consuming and difficult.
Also, I know plenty of people who chose not to go to college but rather go straight into the workforce. They were making substantially more money than me when I entered the workforce but their career arc had stagnated due to barriers preventing them from moving up without degrees. Some chose to finally go to school and have moved up, others just stayed where they were.
There is nothing bad about a college education. It is good and imperative to have an educated populace. One of the unfortunate side effects of politics in a down economy is that candidates will condemn people with a college education as elitist or intellectuals.
But what if I AM an elitist and an intellectual? haha. I mostly get called a hippie with a pointless degree... or something to that affect0 -
I am still paying mine 10 years later and have 10 years left on them. I am lucky that I have a job and my interest rate was good, but like anything, choosing to finance an education is a risk. It's unfortunate that the market is bad right now, but the already extended government shouldn't be paying for it. And, free education will just mean that future generations will consist of highly educated people working working in in jobs for which they are grossly overqualified.0
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So who's supposed to pay it back, I paid back mine, took ten yrs but I did it.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.
<<~~~Liberal Arts Major here. Had $26,000 debt that I paid off in 7 years with my amazing job. You're going to tell me my degree isn't relevant?
Your one of the lucky ones. That job market for that type of major is basically non-existent or relevant in most of the places I have been in this country, let alone around the world. But good for you for making it work and paying back your stupid loans! I applaud you!0 -
\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.
There are also people who do not have fiscal responsibility and will not pay back their loans. Don't whine and say that's not fair either.0 -
I'd rather see companies work with and be more flexible and creative when helping debtors repay debt, than to see debt forgiveness, per se. I've struggled and had to obtain deferments, but I'm about to pay it off entirely, and I've yet to practice law. It's very hard, and I know others aren't as lucky as I've been, but it would be unfair to the other taxpayers if I defaulted on my loans.
There are absolutely legitimate cases of folks who just cannot do it, and they need to default. Serious illness and its associated expense, for example, can totally decimate you financially. I'd love to see credit companies work harder to help people pay these loans off, even if it means a little compromise on payment plans, interest, whatever it takes.
I recommend the crap out of Dave Ramsey's approach to paying off debt.0 -
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.
<<~~~Liberal Arts Major here. Had $26,000 debt that I paid off in 7 years with my amazing job. You're going to tell me my degree isn't relevant?
Your one of the lucky ones. That job market for that type of major is basically non-existent or relevant in most of the places I have been in this country, let alone around the world. But good for you for making it work and paying back your stupid loans! I applaud you!
I'm a free-spirit...I've lived in 4 states and 2 countries since graduating and have never had a problem finding good work in any of the markets. Most people just get so stuck in the mindset that their field of work is the *only* relevant field out there...when really, you just have to know where to look.0 -
Eff that!! I would NEVER support this, what a bunch of crap, you borrow it, you pay it back.0
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No. That's it. Just no.0
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I'd rather see companies work with and be more flexible and creative when helping debtors repay debt, than to see debt forgiveness, per se. I've struggled and had to obtain deferments, but I'm about to pay it off entirely, and I've yet to practice law. It's very hard, and I know others aren't as lucky as I've been, but it would be unfair to the other taxpayers if I defaulted on my loans.
There are absolutely legitimate cases of folks who just cannot do it, and they need to default. Serious illness and its associated expense, for example, can totally decimate you financially. I'd love to see credit companies work harder to help people pay these loans off, even if it means a little compromise on payment plans, interest, whatever it takes.
I recommend the crap out of Dave Ramsey's approach to paying off debt.
I would have loved to see a Paul/Ramsey 2012 ticket.
We are following Dave Ramsey's Total Money Makeover - paid off almost 5k in debt since Jan 1st - on one income, just by pinching pennies and getting serious. I totally recommend Ramsey too!0 -
I do not support forgiving student loans. Teaching financial responsibility has to start early. Most of these loans are at lower than market interest rates. I have always paid off every loan I have taken. Often that meant I drove a junk car or lived in a small house or apartment. I see people crying about their student loans driving nice cars, living in houses they can't afford and talking on their cell phone while they are eating in nice restaurants.
One way people could pay off their loans is perhaps to join the service or volunteer in their spare time to pay it off that way. Let's start programs to do that. I don't really care about weak analogues comparing this to government bailouts of companies and the housing industry. The government is not there to protect us from our own stupid decisions. People have made stupid decisions signing interest only loans and buying houses they can't afford and blame the banks for allowing them to do it. The last time I bought a house (and I've bought 6 or so), nobody forced me to do anything. I weighed the options and made my decisions. I always bought with the understanding that the economy could turn upside down and I could lose my job. I've never got in over my head, because I've taken a conservative approach to my buying decisions. Because I was wise and planned well, the President wants me to pay "may fair share." I've always paid my fair share and I continue to do so. I don NOT need to pay more. I also continue to make smart decisions. I always worked 2-3 jobs to pay my way through school. Never took the loans because I didn't want to have to pay them back when I graduated. Now for those of you who have CHOSEN to take the loans........PAY THEM BACK!!!!
I've seen students take out student loans to buy motorcycles, cars and take vacations. This is NOT uncommon. Many use these loans like blank checks and choose not to work at the same time they are going to school and then come out of college with huge debts that can't get out from under. That is a CHOICE the student made and is not my responsibility as a taxpayer to cover. I've asked many students how they manage to afford a place to live and eat while they are going to school and don't work. They tell me they are on student loans. WHAT????? HOW ARE YOU EVER GOING TO PAY THAT BACK?? They need to live frugally in a small apartment, share a house, live with parents, learn to cook instead of eat at McDonald's and assume responsibility.0 -
Eff that!! I would NEVER support this, what a bunch of crap, you borrow it, you pay it back.
Simple and to the point.
To many people dig themselves into a hole and then expect someone else to dig them out. Ask for help, but don't ask for a handout.0 -
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.
<<~~~Liberal Arts Major here. Had $26,000 debt that I paid off in 7 years with my amazing job. You're going to tell me my degree isn't relevant?
Your one of the lucky ones. That job market for that type of major is basically non-existent or relevant in most of the places I have been in this country, let alone around the world. But good for you for making it work and paying back your stupid loans! I applaud you!
I'm a free-spirit...I've lived in 4 states and 2 countries since graduating and have never had a problem finding good work in any of the markets. Most people just get so stuck in the mindset that their field of work is the *only* relevant field out there...when really, you just have to know where to look.
May I ask what you do?
Btw I am not trying to talk bad about Liberal Arts as a degreet an extent, its just that going into college you need to research the heck out of the job markets and the future of those job markets.
Generally speaking if your are a talented, driven person you can make any degree work. However the majority of the population is not.0 -
I'd rather see companies work with and be more flexible and creative when helping debtors repay debt, than to see debt forgiveness, per se. I've struggled and had to obtain deferments, but I'm about to pay it off entirely, and I've yet to practice law. It's very hard, and I know others aren't as lucky as I've been, but it would be unfair to the other taxpayers if I defaulted on my loans.
There are absolutely legitimate cases of folks who just cannot do it, and they need to default. Serious illness and its associated expense, for example, can totally decimate you financially. I'd love to see credit companies work harder to help people pay these loans off, even if it means a little compromise on payment plans, interest, whatever it takes.
I recommend the crap out of Dave Ramsey's approach to paying off debt.
I agree with this poster's comments. There are legitimate exceptions for serious illness and I would like to see companies work with people who have these issues. Don't forgive the debt, but help defer the debt.0 -
How is it fair that the ones who worked their way through school have to pay for their education and the ones that got a loan don't?
If you cannot pay back the money you BORROWED, then don't borrow it. I went to night school and did correspondence courses so I could work while I got my education. It was hard but I did it. I didn't expect anybody else to pay for my schooling.0 -
I think it would be a wonderful investment for my taxpayer dollars. We should encourage and enable our population to seek higher education. I'd much rather pay taxes for this over wars, corporate bailouts, or corporate welfare.0
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Honestly, college is a lot more expensive now than it was whenever I assume that you went...unless you went back to school recently.It doesn't seem fair that I paid for my education and now you want me to help pay for yours? My kids paid for their educations with help from their employers. Why didn't you try that route? Sounds like poor planning to me.
There is absolutely no way that I could afford to fully support myself financially and go to the school that I do without my job, my loans, my scholarship, and my grants. It just wouldn't be happening.
How much do you pay because in 2001 I paid $25,000 a year to COMMUTE not even live on the campus and am still paying back my college loans. Thank god I have a 1.4% interest rate but I can't imagine you pay much more
It is true that college costs have far outpaced wage growth. When I started school in 2001, my tuition and fees were 24k. Keep in mind that that did not include rent, food, etc, and would have been similar to the commuter rate that you mention. Thankfully in my case I had a full-tuition scholarship that made this school cheaper than my state school and I only had to pay my living expenses. When I graduated in 2005 tuition and fees were over 28k per year. I just looked up the stats for the school year 2012-2013 and it is almost 45k for tuition and fees!!! Tuition has risen at ridiculous rates like this all over hence the outcry from some of the people in school now. It's more important that ever to choose what you go into very carefully since while it has always been true that the degree doesn't guarantee you a job, the debt burden is so much more today and interest rates are not as low.
Even when I went to school, for the vast majority of people it was not possible to work and make enough money to pay all of your expenses. I had teachers that said they did that back in the day....but their tuition per year was less than my monthly rent is now!0 -
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.
<<~~~Liberal Arts Major here. Had $26,000 debt that I paid off in 7 years with my amazing job. You're going to tell me my degree isn't relevant?
Your one of the lucky ones. That job market for that type of major is basically non-existent or relevant in most of the places I have been in this country, let alone around the world. But good for you for making it work and paying back your stupid loans! I applaud you!
I'm a free-spirit...I've lived in 4 states and 2 countries since graduating and have never had a problem finding good work in any of the markets. Most people just get so stuck in the mindset that their field of work is the *only* relevant field out there...when really, you just have to know where to look.
May I ask what you do?
Btw I am not trying to talk bad about Liberal Arts as a degreet an extent, its just that going into college you need to research the heck out of the job markets and the future of those job markets.
Generally speaking if your are a talented, driven person you can make any degree work. However the majority of the population is not.
Musical Theatre and Creative Writing Majors. Went back to school and got a degree in Dietetics. I travel around teaching masterclasses at universities and perform with a band while working in a hospital as a clinical nutritional counselor. About 75% of my income comes from my liberal arts degrees.0 -
Prior to me getting fired...I was paying over $700 a month in student loans. I was living paycheck to paycheck and ending up in the red every week. It sucked. Now I have no job so I'm going to defer those suckers lol.
LOL you cannot wipe student debt from your record it follows you - you will show up as delinquent0 -
Personally I was lucky. My parents were able to pay for most of my education out of pocket, that in combination with some pretty substantial athletic and academic scholarships, in state grants (private school) and "adult" learning pricing, I won't have a substantial amount of debt when I graduate in May.
It is all about finding a school that fits your budget. So many people spend 100+ grand on a bachelor's degree in something that won't help them get into grad school or find a good job. People just need to make better decisions. Someone that gets a degree from a prestigious school won't fair much better than someone that gets a degree from a state supported school.0 -
Also, I would highly encourage those of you with young children to start saving for their educations NOW! We have Florida Pre-Pay, which will end up saving us thousands of dollars if our son decides to go to school in state. If not, nothing lost - we just have a nest egg.
Even small contributions add up!
My parents didn't help me at all, and it sucked, but I made it. I hope to do better for my boy.0 -
Prior to me getting fired...I was paying over $700 a month in student loans. I was living paycheck to paycheck and ending up in the red every week. It sucked. Now I have no job so I'm going to defer those suckers lol.
LOL you cannot wipe student debt from your record it follows you - you will show up as delinquent
When you defer your loans, it does show up on your credit as being deferred and not deliquent. Same thing goes in you are in forbearance.0
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