Forgive my student loan!

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.

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.

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.

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.

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.

I am 100% opposed to student loan forgiveness. I graduated in December 09 with a few dollars short of $18k in student loan debt & paid it off about 13 months after the first payment came due (19 months after graduation). I also chose to go to the school that gave me the most financial aid, worked on campus at a work-study job during the fall and spring, worked the maximum hours I could at part-time jobs during winter, spring, & summer breaks, & took more than the "average" amount of credits some semesters/took two summer courses at community college so I could finish 1 semester early and save myself an extra $5k in loans. Granted, my first job was full-time & paid just under twice my state's minimum wage and I was able to live with my mom for cheap for two years, but other than that, I committed to that debt when I signed the promissory notes each year and I knew it was an obligation that needed to be repaid. Now I am happily debt-free and helping my fiance pay down his Master's degree loans so we will be fully student-loan free within a year after our marriage this November.

I'm more in favor of lowering interest rates for existing debt (I mean, 6.8% on student loans?! I could get an auto loan with a lower APR). I just can't feel sorry about the people whining because they took out $50k+ in loans for a liberal arts degree (mine is in English).

Here's a thought. Quit relying on the government to provide for you. I paid for college with the GI Bill.

Soon we go from this to Tax everyone at 100% and let the government hand out the money as they see fit.

I've been able to make it through without any loans...but law school is coming soon so I'm def in support of this lol

People need to understand that this is not a free write-off, welfare-based program. In order to receive forgiveness of the debt, borrowers must first make 10 years of regular payments before they are eligible for a forgiveness of the remaining amount. This bill doesn't increase taxes of affect any of you as taxpayers. Also, there are caps on the amounts that can be forgiven. But for some of us who could not earn doctoral level degrees without acquiring hundreds of thousands of dollars in debt, we need help. At current interest rates, we will NEVER, EVER pay off those debts, no matter how hard we work, or how hard we try. Both public and private universities have an almost monopoly-like power over the educational market, and so while it would have been wonderful to get 10 years of post-graduate education (to the Ph.D.) without incurring mountains of debt, it just wasn't possible. Right now, we are on the 30-year repayment plan, and the interest alone ensures that we will die long before the debt is gone. And THEN it will be forgiven anyway. Do you have a problem with letting us get a gasp or two of air before we actually die? Especially when it won't affect your individual bottom lines in any way, why begrudge us a little help? Maybe you are anti-welfare programs. Guess what: SO AM I. I strongly disapprove of programs that give money to people who do very little to contribute to society or make any efforts to help themselves. But that is not the case here. This bill requires a decade of very hard work and effort before offering some relief.

If you haven't actually READ the bill, please don't jump in with scurrilous opinions on this board--you don't know what you're saying. There are all kinds of requirements and limitations on how much can be forgiven, how soon it can be forgiven, etc. And you won't even notice as a taxpayer that this is happening. It doesn't affect your taxpayer rate AT ALL. But we who are drowning will actually have hope. Is this really a problem for you?

People need to understand that this is not a free write-off, welfare-based program. In order to receive forgiveness of the debt, borrowers must first make 10 years of regular payments before they are eligible for a forgiveness of the remaining amount. This bill doesn't increase taxes of affect any of you as taxpayers. Also, there are caps on the amounts that can be forgiven. But for some of us who could not earn doctoral level degrees without acquiring hundreds of thousands of dollars in debt, we need help. At current interest rates, we will NEVER, EVER pay off those debts, no matter how hard we work, or how hard we try. Both public and private universities have an almost monopoly-like power over the educational market, and so while it would have been wonderful to get 10 years of post-graduate education (to the Ph.D.) without incurring mountains of debt, it just wasn't possible. Right now, we are on the 30-year repayment plan, and the interest alone ensures that we will die long before the debt is gone. And THEN it will be forgiven anyway. Do you have a problem with letting us get a gasp or two of air before we actually die? Especially when it won't affect your individual bottom lines in any way, why begrudge us a little help? Maybe you are anti-welfare programs. Guess what: SO AM I. I strongly disapprove of programs that give money to people who do very little to contribute to society or make any efforts to help themselves. But that is not the case here. This bill requires a decade of very hard work and effort before offering some relief.

If you haven't actually READ the bill, please don't jump in with scurrilous opinions on this board--you don't know what you're saying. There are all kinds of requirements and limitations on how much can be forgiven, how soon it can be forgiven, etc. And you won't even notice as a taxpayer that this is happening. It doesn't affect your taxpayer rate AT ALL. But we who are drowning will actually have hope. Is this really a problem for you?