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re: Could/would the Fed Govt forgive student loans?

Posted on 10/7/11 at 2:03 am to
Posted by bulldog95
North Louisiana
Member since Jan 2011
21163 posts
Posted on 10/7/11 at 2:03 am to
me too i have paid mine back but the wife is in grad school. good thing the state and federal government will be paying back 60% of her total loan amount when she graduates.

Posted by lsutigers11
Member since Aug 2005
693 posts
Posted on 10/9/11 at 10:27 pm to
Not to say that we shouldn't have to repay loans, but interest rates of 6.8 to 7.9% on graduate loans is a little ridiculous. Home loans are half that rate.

Government is also getting rid of subsidized loans (there way of helping balance the budget)

My brother's rates are something extremely low, like 2%. That makes it much easier to not complain.
Posted by Tigerstudent08
Lakeview
Member since Apr 2007
5776 posts
Posted on 10/10/11 at 2:19 pm to
No way should these loans be forgiven! You go to school knowing what the cost will be and knowing how easy/difficult it will be to get a job when you graduate. If you graduate with a good gpa in a high deman major, you WILL get a job.
Posted by tirebiter
7K R&G chile land aka SF
Member since Oct 2006
10687 posts
Posted on 10/10/11 at 4:12 pm to
Hell no, pay them back, no one said it was free money, although I would say 7-8% interest on non-dischargeable debt in this rate environment is a joke, but so would a 6% 30-yr mortgage if someone could not refi due to whatever reasons.

The educational industry should really evaluate their sector to better understand what is driving grossly inflated college costs. Student loans are obviously funding a large chunk of it, which in turn, vastly increases the number of college applicants and facilities/services needed. What did students do prior to borrowing vast sums of money to enroll? They got schollies, jobs, apprenticed/interned, used family money, etc.
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