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re: Any posters out there that feel their student loan debt is "unjust"?
Posted on 2/1/16 at 6:24 pm to Schwartz
Posted on 2/1/16 at 6:24 pm to Schwartz
I really do not desire loan forgiveness. Instead I wish their was an opportunity reform regarding loans.
TLDR Give people a gross amount of money they can borrow from for their education without using a tier, and if they lose it all then that is their fault (like 150K limit for student loans unless your in med school,etc.)
For instance, if you get a bachelors degree now, you have limited hours for a second BS/BA. Meanwhile, you are completely barred from getting an AS degree using federal loans. The only other option you have is get an MS/MA degree.
If someone messes up bad in for a BS/BA after completing the degree, why cant they pursue an AS.
The loan limit for a MS degree is $138K IIRC. So if everyone has that opportunity---why cant they use some of those funds to pursue an AS instead or use it to help afford another BS (with slightly better hour restriction)
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Posted on 2/1/16 at 6:25 pm to Schwartz
My "unjust" feelings would be toward tuition rates that steadily seem to climb and relatively high interest rates on school loans. I understand inflation and general operating costs for tuition and the basic economics behind why interest is needed for loans, but at 6.8% on the loans I was offered back in college, I am paying almost $80-$90 in interest. If most of that went to principal, the government and private lenders would get their money back quicker, but when people are making money off interest, there is no good reason to give borrowers low interest loans.
Posted on 2/1/16 at 6:25 pm to djangochained
quote:
What is a student loan ?
Posted on 2/1/16 at 6:27 pm to kywildcatfanone
I agree with the premise that a person should take out a shite load of debt to get a degree that does not translate to a job that will allow you to pay it back.
That said, frick these state schools who require a student to pay out the arse to study in a field that doesn't produce any way of recouping the costs of education once you have gotten your degree.
If the average job in the "english studies" field pays 25k a year, then an english degree should be way fricking cheaper than a chemical engineering degree.
That said, frick these state schools who require a student to pay out the arse to study in a field that doesn't produce any way of recouping the costs of education once you have gotten your degree.
If the average job in the "english studies" field pays 25k a year, then an english degree should be way fricking cheaper than a chemical engineering degree.
Posted on 2/1/16 at 6:28 pm to cberni1
quote:
but at 6.8%
Damn, I consolidated all my federal loans years ago and am locked into 3% rate.
Posted on 2/1/16 at 6:28 pm to Schwartz
I busted my arse for 12 years paying off my loans. Living like a pauper much longer than I ever wanted.
After finally paying them off, I cannot tell you how pissed off I will be if these damn little precious snowflakes just have their debt erased because it hurts there sweet little feelings.
frick every last one of those selfish assholes and everyone who thinks its ok to give in to them.
After finally paying them off, I cannot tell you how pissed off I will be if these damn little precious snowflakes just have their debt erased because it hurts there sweet little feelings.
frick every last one of those selfish assholes and everyone who thinks its ok to give in to them.
Posted on 2/1/16 at 6:29 pm to Schwartz
If one person my age or older gets one cent forgiven by law, I deserve a one time tax credit and/or a medal for paying mine off.
Posted on 2/1/16 at 6:30 pm to NoNameTiger
I'm in kind of a similar boat in that I've worked since I was 16, and busted my arse to be where I am 15 years later. I didn't get shite the easy way.
Posted on 2/1/16 at 6:30 pm to Schwartz
quote:
Agreed that it's pretty fricked as is, but I wish I could understand what's driving it
Our society drives it by deeming a 4 year degree essential to a successful life.
If you aren't college educated you are seen as an idiot or lazy by much of society. So demand is very high. Infinite student loan money just pours napalm onto the fire. Students and parents DGAF about skyrocketing tuition because loan amounts are attached to tuition. A person will never have to drop out of school because they couldn't get enough loan money.
This post was edited on 2/1/16 at 6:33 pm
Posted on 2/1/16 at 6:30 pm to cberni1
quote:
but at 6.8% on the loans I was offered back in college, I am paying almost $80-$90 in interest. If most of that went to principal, the government and private lenders would get their money back quicker
I hope you didn't rack that student loan debt up on a business degree
Posted on 2/1/16 at 6:32 pm to lsunurse
quote:I have looked into it several times but I can't find companies that are willing to consolidate the 6.8% loans I have into anything worth my time. Lowest I've got was 5.2% but after doing the math, the savings over the life of the loan are almost negligible. I really need to look harder because it does piss me off.
Damn, I consolidated all my federal loans years ago and am locked into 3% rate.
Posted on 2/1/16 at 6:33 pm to Schwartz
Unjust? No, I took the money out to go to school.
The only reason I haven't paid off my student loans is because my interest rate is < 2%. I have better uses for that money right now.
Would I like someone to just say "Hey, you don't owe this money anymore?" Of course, who turns down free money?
The only reason I haven't paid off my student loans is because my interest rate is < 2%. I have better uses for that money right now.
Would I like someone to just say "Hey, you don't owe this money anymore?" Of course, who turns down free money?
Posted on 2/1/16 at 6:33 pm to jbgleason
quote:
fricking payroll tax.
Really?
Posted on 2/1/16 at 6:33 pm to JohnnyKilroy
quote:
25k a year, then an english degree should be way fricking cheaper than a chemical engineering degree.
You have to also account for the likelihood of landing any of those jobs.
Posted on 2/1/16 at 6:35 pm to Schwartz
I do in regards to their interest rates. I also have a prejudiced view towards university's tuition prices (more so this than the loan itself). I've noticed a substantial surge in tuition prices (public universities as well) over such a short, short span of time.
My first son's 4-year tuition bill at Texas was a grand total of $16,000 (excluding fees and other assorted costs).
My youngest (10 years down the road) is right at $56,000 for 4 years. And, of course, that isn't even hitting rent, living expenses, books, and such.
My first son's 4-year tuition bill at Texas was a grand total of $16,000 (excluding fees and other assorted costs).
My youngest (10 years down the road) is right at $56,000 for 4 years. And, of course, that isn't even hitting rent, living expenses, books, and such.
Posted on 2/1/16 at 6:35 pm to VABuckeye
the payroll tax is bullshite
Posted on 2/1/16 at 6:36 pm to LordSaintly
I mean is there actual talk of them forgiving it lol? I sure as hell wouldn't complain, but I mean I knew I was going to have to pay it back, so calling it unjust is ridiculous.
Posted on 2/1/16 at 6:36 pm to BayouBengals03
You can declare bankruptcy on anything really. Student loans are generally not dischargeable(still owe them), along with domestic support and some taxes
Posted on 2/1/16 at 6:38 pm to LordSaintly
No
I am 90K in debt for my professional degree, but I will get many times that in return because of it. I managed to pay off my undergrad loans just a few years after I graduated.
I am 90K in debt for my professional degree, but I will get many times that in return because of it. I managed to pay off my undergrad loans just a few years after I graduated.
Posted on 2/1/16 at 6:39 pm to Schwartz
The people who have the best complaint about them are the people who were tricked into going to those for profit online degree mills and told that the certifications and degrees would get them jobs that didn't really exist. Instead they just got a worthless piece of paper and tens of thousands in debt. Ultimately it was their decision, but I do feel some sympathy for them. Those "schools" are predatory and take advantage of the desperate and stupid.
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