- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
Question About Student Loan Limits
Posted on 9/1/16 at 1:30 pm
Posted on 9/1/16 at 1:30 pm
Why is the federal student loan limit for undergrads only $57000. I understand that a limit is needed for anything, but I think $63000 would be more appropriate with rising tuition costs.
Also, why is there is 150% limit of student academic progress. Lets say a student has reached 150% of their program, yet has only $21000 in federal loans. They pay out of pocket their last semester, buy why?
If they decide to go back to school for another BA or BS, why limit their hours when they have $30k+ they have yet to borrow?
Also, why is there is 150% limit of student academic progress. Lets say a student has reached 150% of their program, yet has only $21000 in federal loans. They pay out of pocket their last semester, buy why?
If they decide to go back to school for another BA or BS, why limit their hours when they have $30k+ they have yet to borrow?
7
Posted on 9/1/16 at 1:33 pm to volod
So if it's raised to $63k, someone will then ask why it's not $70k.
You got enough, buffet ovah.
Go to work.
You got enough, buffet ovah.
Go to work.
Posted on 9/1/16 at 1:38 pm to soccerfüt
quote:
You got enough, buffet ovah.
Actually I only took out around 20K in student loans for undergrad. I hit the 150% wall, so all I could do was the following for going back to school :
a) utilize 45 credit hours of federal loans for another BS or AS
b) Go to grad/professional school
Posted on 9/1/16 at 1:51 pm to volod
57k is too low but 63k is just right?
Posted on 9/1/16 at 2:09 pm to volod
quote:
Why is the federal student loan limit for undergrads only $57000. I understand that a limit is needed for anything, but I think $63000 would be more appropriate with rising tuition costs.
If the government offered 63k the cost of tuition would just rise more and you'd be in the same boat. If you want to stem the tide of tuition then you have to stem the tide of free money.
This is why I can't put a 100% of the blame on students for loans, because they are entering a broken market. And the answer isn't to "do something else" because that would have disastrous results on our educated labor market.
Posted on 9/1/16 at 3:54 pm to volod
Yes, artificially low interest rate loans from the government with the ability to be forgiven is the key for our country's success.
ETA:
Exactly. TOPS exasperates the problem in LA as well.
ETA:
quote:
tuition would just rise more and you'd be in the same boat. If you want to stem the tide of tuition then you have to stem the tide of free money.
Exactly. TOPS exasperates the problem in LA as well.
This post was edited on 9/1/16 at 3:56 pm
Posted on 9/1/16 at 3:55 pm to volod
Are the caps adjusted for inflation each year?
I think the 150% rule is to prevent people from just piling up multiple, cheap BA degrees.
You have to remember how educators think. If they had their way, we'd all get BA in general studies with an emphasis on psychology and humanities, and then actual learn useful stuff in grad school.
I think the 150% rule is to prevent people from just piling up multiple, cheap BA degrees.
You have to remember how educators think. If they had their way, we'd all get BA in general studies with an emphasis on psychology and humanities, and then actual learn useful stuff in grad school.
Posted on 9/1/16 at 3:58 pm to volod
You do realize that STUDENT LOANS are designed to help educate people so they can then GO TO WORK?
Not to stay perpetually in school.
Don't hate on the system because you made poor decisions and exhausted your options.
Not to stay perpetually in school.
Don't hate on the system because you made poor decisions and exhausted your options.
Posted on 9/1/16 at 4:19 pm to volod
So why were you at 150%? That is an issue.
Posted on 9/1/16 at 5:42 pm to volod
Your shtick is old, don't ruin the money board with it please.
Posted on 9/1/16 at 7:28 pm to volod
Please just delete your account. The fact that our government loans $57k to people with awful grades and zero plans or prospects is setting them up for failure. Student loan debt is a huge problem and more of it isn't the solution. People graduating with $57k in debt will spend the next 10 years of their lives struggling to get ahead. This will decrease their chances of getting approved for a mortgage. Lack of home ownership is a huge reason minoorities struggle financially. You should stop drinking the democrat juice and think about what policies will really help black people.
Posted on 9/2/16 at 7:43 am to volod
All I know is I graduated grad school with $14k in student debt and it felt so good to pay it off all the way in March of this year. I cannot fathom the suffocation of owing $50k/year for my tenure. Simply absurd.
Posted on 9/2/16 at 7:57 am to volod
quote:
Actually I only took out around 20K in student loans for undergrad. I hit the 150% wall, so all I could do was the following for going back to school:
a) utilize 45 credit hours of federal loans for another BS or AS
b) Go to grad/professional school
c) Get a job that pays me money in exchange for my labor. Use this earned money to purchase the things I want.
Page 1 of 1
Back to top
Follow TigerDroppings for LSU Football News