Forgive my student loan!

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.

Some of us have employers that won't help pay for our schooling. However, I won't be asking anyone to help me with any form of loan forgiveness. Yes, I have loans, but I'm the one that took them out, so I'm the one that will pay them off.

My daughter has some student loans...not a lot, but significant amounts due quarterly. She took those out, knowing she would have to pay them back, and wants to do so....but in this economy hasn't been able to find the kind of work that allows her to do it. She's working two jobs now just to get by. While forgiving the loans would be a weight off her shoulders, and many many other people, there must be some way to allow people to make payments they can live with instead. Reducing the interest rates further and reducing the impact of these loans makes more sense to me than outright loan forgiveness. Or cap the payments at a certain number of years for many folks....if you've been making the required payments for X number of years, forgive the remainders.

She's write. I went to school worked a part time job and walmart and a full time job at an insurance company. AND.. What do you now. I still Have 50,000 in school loans that I pay monthly. To be honest. I would much rather my tax money go to helping people pay for eduction than to help welfare who dont want to get out and work. I know there are some that cant. But if they can work they should be working.

I totally agree. I would gladly pay higher taxes if it was going to help education. I applied for tons of scholarships throughout my college career and didn't get a single one. I do not agree with paying taxes so people can sit on their bum all day. And like you said, some people can't and that is not who I am referring to. But there are plenty of people out there that depend on the government instead of using their own 2 feet to get a job and support themselves. That is not ok.

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.

I agree with you. I have student loans that I would LOVE to not have to pay back, but it is a loan that I took out with the expectation of paying it back. I realize now that I didn't know enough about finances and budgeting when I was in high school. I wish I could start over...either knowing what I know now or having waited until I was more mature. I think I would have benefited greatly from maturity. :-) I say congrats for working your butt off like that to pay them off.

If I had known that student loans could be forgiven I would have taken out a lot more! LOL... I took our a few loans in undergrad and got them paid off rather quickly - not because I had a high paying job when I graduated (I was a field biologist) but because I only took out what I absolutely needed. For my years of graduate study I've paid out of pocket to avoid having to take out more loans. I know some people aren't able to do this. I was fortunate, but I also know people that took out a lot more than what they needed just so they could have more money. Now they are stuck. It's the same thing that happened with real estate. People bought houses they couldn't afford and got stuck. Yes it sucks that they lost their homes and it sucks that people are having a hard time paying back student loans. My thought is that you took the loan knowing that you would have to pay it back... you should pay it back. Many on this thread have the same idea - "I borrowed it, so I'll pay it back". Thanks to all of you.

Personally, I am in favor. I have a disablity and do not qualify for disablity forgiveness,,, without a job, I can't pay,, even if I file bankruptcy, chances are very high that it won't be forgiven. I think if you have a job and can pay,, it's not good to get away. But then, it's a good bill for those who REALLY need the help.

I would love to not have to pay it back; however, it's not fair to the taxpayers to pay for part of my education.

In Germany, we pay higher taxes so everyone can visit university free of charge (or at low rates such as 500 Euros a semester). Worth it? I think so.

That is awesome what they do in Germany.
I myself have student loans that I am paying back, but my son is graduating from high school this year and the tuition is so much more than when I went to college just 12 years ago that he can't afford to go. Back when the economy was good, it wasn't such an issue, but now it is. Not only that, many that graduate cannot find jobs like they did 10 years ago.
There is only going to be more crime with young adults because they cannot afford to go to college to get decent jobs, so they have to try to get factory, construction, etc. jobs which makes it harder for ends to meet..and when people are in debt and stressed then they are more likely to commit crimes.
Maybe forgiving student debt isn't the answer, but they should at least consider doing something about the outrageous costs of what it is to go to college today..Those that go to college are going to start their lives before they have a job to pay in serious debt from student loans. It is starting in the bottom of a pit, trying to fight their way to the top.
I told my son ..I would rather him try to work a few years at a blue collar job and try to save as much as possible and then he doesn't have to take out so much debt with the student loan..maybe take a couple classes each semester. It will take longer, but he will be in much less debt starting out in his young adult life.
There is also other things to consider..it takes him more money to drive to college..since he could only afford to go to a community college with no housing and gas alone is taking the majority of what he can earn.

Also thought I'd add that whether you like it or not, taxes ARE paying for some people's educations...like mine. I get a few grants each semester on top of my loans and scholarship.

I don't understand people who oppose government funding for college... education is an important investment. I'd rather see my tax dollars (well, when I have a job that actually makes enough to pay taxes) help someone get out of poverty and allow them to make a decent living for themselves instead of relying on welfare and assistance. That just seems like common sense to me.

^^^ Completely agree

While we're at it, let's get rid of public schools in general. If your family can't afford to send you to school, then that's your problem. AMIRITE?!

I think part of the problem is that students/young adults aren't even educated on making a sound choice when it comes to taking out loans. I know a handful who have taken out loans to go to a more pricey school and it turns out their degree still earns the same as the person who went to a state school which was cheaper. I know this becomes different when you're speaking of things such as Med or Law school etc but many degrees aren't going to give you a higher pay just because you went to a pricey university. Also they don't teach students anymore the importance of saving or how to better invest their money, its all about credit/loans now.

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.

A lot of your schooling was paid for by the government. You better pay that part back before you start whining about others.

This is the problem with education inflation. We are now at a point where you need a PHD where you would have needed an MA. An MA for a BA and a BA for working in Starbucks.
Too many people getting too many degrees and paying ridiculous amounts for them. Add in the fact the boom is over and what do you have? A lot of very broke, highly educated young people.

Whilst no where near as bad as the US, that's how the UK is going, although we get to pay much less for our education.

I didn't go to college. I couldn't afford it. If I had gone college, I would have needed loans up the wazoo.

It's probably not one of my better decisions, but I thank my lucky stars every day that I happened to land a job that pays very well and didn't require a degree.

She's write. I went to school worked a part time job and walmart and a full time job at an insurance company. AND.. What do you now. I still Have 50,000 in school loans that I pay monthly. To be honest. I would much rather my tax money go to helping people pay for eduction than to help welfare who dont want to get out and work. I know there are some that cant. But if they can work they should be working.

That is so true! I would much rather pay for people to go to get an education than wellfare..if more people could afford education then there wouldn't be as much wellfare, where we are paying for people's medical bills (Title 19) and food (food stamps). housing assistance..which I don't have a problem with if someone really needs it, the are disabled, etc.
But right now...Title 19 is about 80% better than the insurance I get at work. Medicaid pays for almost everything and my husband hurt his back and my medical bills are through the roof..not only does money come out of my paycheck for it, it barely covers anything because our company went on this new account based medical plan...that basically puts you is so much debt if you have anything medically go wrong. (but at the same time) I am went to college and I am paying my own.
So really where is the incentive for those people to get off wellfare, when they have better health care, etc? They go to college (there is debt there) the get a job, get a health plan at work (more debt) ...there life can stay debt free if they stay on wellfare.

How about the government does something about the sky-rocketing tuition? It might not help me directly, but it's obscene. Add in the price-gouging the textbook companies do to squeeze out every dollar out of college kids. You really think this is unrelated to why we're so low in the rankings of nations in the world in regards to education?