Just found this on yahoo. Student loan forgiveness

[vvvvvvv]

There are some serious problems with higher education that are eventually going to cause a major contraction in the number of people attending.

The way the system is now, that contraction will just mean higher tuition for those who choose to attend.

The biggest joke I've seen is "Interdisciplinary Studies"... Basically, it's another way to be "undecided" and get your degree to keep the graduation rates up.

 

[Gideon]

I have about $25,000 is student debt. I now have a job that I am overqualified for, and make less money than I would have if I had simply went to work after high school, or went to trade school.

Regardless, all of my student loans will be paid in full, on or ahead of schedule. I'd rather eat ramen for another 30 years than have forgone the experience that allowed me some self-determination.

 

[ripnbst]

I went to school and finished in 4 years, not any of this 5 year plan bull$hit. Got out, got jobs and am currently paying on my student loans. I have all my student loans on auto withdrawal from my account and pay no attention to them really. My loans total $160 a month and for me that is more than manageable. I wont have them paid off for like 5 years but when they are done I will be pumped.

Todays youth needs a good boot in their a$$ and a smack upside the head. This coming from someone who's 24. Get your crap together and go find a job. It's not impossible if you get into the right field instead of living in a dreamworld and saying "I like art and dolphins so I am going to be a marine biologist and a painter in my spare time for extra cash." Marine Biology is an EXTREMELY competitive field along with being an Architect. Some young people who are going to school and tell me what their majors my most common thoughts are the following: "Pfft I hope you are incredibly smart", "Pffft, you and 250,000 other kids the year you graduate", or "Good for you, I am sure you will be just fine."

So many of these kids go to college for the 4 year party and barely get by in terms of academics and then wonder why they can't get a job. It's because while you were off f*cking around and getting high and hammered some people were actually doing school work. Don't get me wrong, I had quite the social schedule and love a good time as much as anyone else but there is a time and a place.

To all of today's youths saying they aren't paying, my approach would be OK what do you own? Great, I am taking it until you pay me. End of story. Most don't have houses but lots have cars. These kids would have credit holds and liens on them all over the place, they life is tough now?

End rant, if all these little jag offs decide they aren't paying and actually start being forgiven of their debts let me know. I'll jump off my high horse in a second.

To the med students out there, god bless you. It's a different world I know nothing about. I'd consider moving out of the country to an Americanized middle eastern country with lots of oil money like UAE, Kuwait, etc. All of their sick come to the US for the best care, you could move there and have a leg up just by being an American schooled doctor. Not to mention be paid handsomely for your efforts.

 

[alank2]

Hi,

College needs to be looked at like a business deal. You are paying $$$ for a degree that will hopefully offer a return on your investment. Only take the deal if it is going to be a profitable one. If you make the commitment then keep your end of the deal and pay it off without expecting someone else to jump in and do that for you.

What makes me really mad is when the government decides to throw the citizens tax money into the mix; in this case for political reasons such as Obama is desperate and wants votes. It was wrong when Bush handed out cash the way he did for votes and it is wrong what Obama is doing now for the same reasons. It is just plain wrong.

Thanks,

Alan

 

[riper1]

Are you people sure this is not about buying the VOTE in 2012 if your school loans are forgivin wont you vote for him? But reality its all the working middle class is who would be paying your loans, whats next credit card forgiveness

 

[AKmoose]

Uncle sugar
Can I get reimbursed for a student loan I paid off? LOL


Took a loan against my retirement to get rid of the 9% interest and pay myself 4%, was so relieved to get rid of sallie mae.

 

[VitruvianDoc]

Are you people sure this is not about buying the VOTE in 2012 if your school loans are forgivin wont you vote for him? But reality its all the working middle class is who would be paying your loans, whats next credit card forgiveness

I hope you know it was Bush who did the PSLF.
Bush got rid of Forbearance and enacted the Income Base Repayment option to replace it. It was set at 15% of the income over the poverty line. Bush is also responsible for the policy that jacked repayment interest rates up from the low 1.5-3% to 6.8+.

Now, Obama reduced the mark from 15% to 10% over poverty.
He also reduced the 25 years to 20 years for forgiveness.

In a trade off with republicans about the deficit battle that occurred last Summer, he allowed a Republican measure to pass which completely eliminated subsidized loans for students in graduate level degrees.

So truth be told, I am happy with neither party.

 

[guns are dumb]

It was also Bush policies that made it more difficult to consolidate student loans at a lower interest rate. When I returned to school in June to finish up my second degree the current interest rate was 6.8%. It was cheaper to take out a home loan than a student loan. I'm paying for it out of pocket, but coming up with $20K in cash is difficult over the course of 12 months.

In contrast, I currently pay 2.1% on consolidated loans from my first degree.

 

[SoonerATC]

Are you people sure this is not about buying the VOTE in 2012 if your school loans are forgivin wont you vote for him? But reality its all the working middle class is who would be paying your loans, whats next credit card forgiveness

That is EXACTLY what I was thinking.

 

[Fyrtwuck]

I agree, it should be like any other loan you don't pay off. You lose what you don't pay for. I am a young person still off and on trying to finish my degree. It's just so frustrating that these people think that they should just get a college education and not have to pay it all back. Often times student loans also involve living expenses and spending money during the time frame. All this money, and to think hey I just don't really feel like I should have to pay for all this.

When did American's start feeling like they were entitled to everything they want for free?

Are you kidding? Didn't you watch the news when hurricane Katrina hit. People were all over the streets with signs 'WHERE'S FEMA?" They got all kinds of credit cards, loans, handouts and everything else they could get their hands on for free.