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re: At least half of students defaulted or failed to pay down debt within 7 years
Posted on 2/22/17 at 2:17 pm to Patron Saint
Posted on 2/22/17 at 2:17 pm to Patron Saint
"Stafford" is a general name for Sub and Unsub loans. Direct loans, FFEL Loans, etc are all Stafford loans.
LINK
That being said, you are correct regarding the definition of total and permanent disability. It is not intended for individuals going through a temporary situation, but rather someone who has a life altering disability. For example: If someone is diagnosed with ALS, they could be considered totally and permanently disabled and they could potentially have their loans discharged.
In the government's eyes, you could regain gainful employment after your year of diagnosis and be able to repay the debt.
LINK
That being said, you are correct regarding the definition of total and permanent disability. It is not intended for individuals going through a temporary situation, but rather someone who has a life altering disability. For example: If someone is diagnosed with ALS, they could be considered totally and permanently disabled and they could potentially have their loans discharged.
In the government's eyes, you could regain gainful employment after your year of diagnosis and be able to repay the debt.
0
Posted on 2/22/17 at 2:19 pm to GreatLakesTiger24
It was probably one of the worst times to graduate college, with the economy tanking and Obamacare implementation. I am not in favor of loan forgiveness, but I might get on board with paying the interest on unsubsidized loans and extending the payment timeline. If they can't pay down anything at that point, they really have zero fricks to give and deserve no help.
Posted on 2/22/17 at 2:20 pm to slackster
The DOE makes it near impossible to discharge a federal student loan simply because there is nothing of value they can legally get back from doing so. In a traditional bankruptcy, a bank could take possessions, sell them, and recoup some or all of what is owed. The DOE can't repossess an education, because it is a service and is considered a sunk cost. Same way they can't take back all the nights of partying done on the government's dime.
Posted on 2/22/17 at 2:21 pm to Hester Carries
quote:
So what do you do for people like me who lived frugally right out of school and paid of my debt in 2 years? Just say "frick you very much, you sucker" ?
Tax break imo.
But I'm gonna let you frickers pay off my student loans for me. Thanks guys. Just 8 more years of public service
Posted on 2/22/17 at 2:25 pm to HempHead
Plus, how many of these idiots take out 100,000 in student loans for a degree that's only worth 30,000 when you graduate? Or buy rims, cars, clothes, and other crap they don't need with the money?
Posted on 2/22/17 at 2:45 pm to AUbagman
My solution is to allow the student to pay back the principal of their loans with pre-tax dollars.
You can already use pre-tax dollars to pay for tuition beforehand, my solution would allow you to do so after the fact from either a 401k, IRA, FSA, etc. It's your money, the only person losing out on the tax dollars is uncle Sam who is already making money off your loan interest anyway.
As it currently stands you can only pay off student loans with post tax dollars and after paying off student loan interest first. That makes paying them off an expensive proposition.
You can already use pre-tax dollars to pay for tuition beforehand, my solution would allow you to do so after the fact from either a 401k, IRA, FSA, etc. It's your money, the only person losing out on the tax dollars is uncle Sam who is already making money off your loan interest anyway.
As it currently stands you can only pay off student loans with post tax dollars and after paying off student loan interest first. That makes paying them off an expensive proposition.
This post was edited on 2/22/17 at 7:51 pm
Posted on 2/22/17 at 3:31 pm to GreatLakesTiger24
quote:
don't be an idiot. college isn't job training.
Please explain to me why the frick you go to college than? Sure most of the time it is not on the job training ,but obtaining a college degree revolves around getting a job.
This post was edited on 2/22/17 at 3:33 pm
Posted on 2/22/17 at 4:40 pm to GreatLakesTiger24
Instead if forgiveness, reduce their future SSI by the outstanding loan balance. They come out ahead in the interim but we reduce future obligations.
Posted on 2/22/17 at 5:40 pm to southernelite
PRINT MORE MONEY.. THAT WILL FIX THE PROBLEM
Federal Reserve can kiss my arse. Crooked bastards.
Colleges were smart and took advantage of inflation. But it always ends up screwing the average person.
Federal Reserve can kiss my arse. Crooked bastards.
Colleges were smart and took advantage of inflation. But it always ends up screwing the average person.
Posted on 2/22/17 at 6:16 pm to stelly1025
quote:to better yourself intellectually, become more well-rounded, you know... to get an education.
Please explain to me why the frick you go to college than?
No offense, but you have a lower class way of looking at it.
Posted on 2/22/17 at 6:24 pm to GreatLakesTiger24
Those schools should no longer be eligible options for government backed student loans.
If your students can't pay their loans, you're either issuing useless degrees or charging excessive tuition.
If your students can't pay their loans, you're either issuing useless degrees or charging excessive tuition.
Posted on 2/22/17 at 7:27 pm to stelly1025
Universities shouldn't be Vo-Tec, it's about making yourself into someone that could succeed at many jobs by absolutely diving into something you love. Try damn hard at ANYTHING you study and you should be prepared to be a successful adult.
Posted on 2/22/17 at 7:35 pm to GreatLakesTiger24
quote:
to better yourself intellectually, become more well-rounded, you know... to get an education.
No offense, but you have a lower class way of looking at it.
You don't need a classroom to obtain knowledge, especially in this day and age.
Posted on 2/22/17 at 7:52 pm to GreatLakesTiger24
quote:
to better yourself intellectually, become more well-rounded, you know... to get an education.
No offense, but you have a lower class way of looking at it.
Not really, and I do not think it is a low class way of looking at it. That is actually the most idiotic thing that I hear usually from people in useless degree programs. Hey to each his own I guess.
Posted on 2/22/17 at 9:46 pm to stelly1025
quote:you sound like an engineer
Not really, and I do not think it is a low class way of looking at it. That is actually the most idiotic thing that I hear usually from people in useless degree programs. Hey to each his own I guess.
Posted on 2/22/17 at 9:55 pm to GreatLakesTiger24
I do t believe that for a second.
Posted on 2/22/17 at 9:58 pm to GreatLakesTiger24
unless you are looking at a career in academia, college is basically job training
that is what it has become
that is what it has become
This post was edited on 2/22/17 at 9:59 pm
Posted on 2/22/17 at 10:10 pm to Lawyered
quote:
What sucks is I pay 2k a month for my student loans. Have a good job and career in a place i love. However I make too much money for me to write off my loan interest .
How in the frick is your loan repayment amount $2K a month....LMAO
I'm fortunate enough to come from a well off family so I only had like $3K in student loans after a shite ton of scholarships and that was just because my parents wanted me to experience paying something off.
One of my good friends went to grad school for accounting and we were talking about student loans one day.....told me he owed like $120K....I laughed because I thought he was joking and he acted like it wasn't a big deal. Not sure why anyone would ever put that upon themselves.
Posted on 2/22/17 at 10:12 pm to GreatLakesTiger24
A bad one.
Posted on 2/22/17 at 10:14 pm to Salmon
quote:
unless you are looking at a career in academia,
or law, medicine, & most aspects of business.
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