- 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
re: Govt should incentivize student loan payback by allowing all payments to be deducted.
Posted on 11/16/17 at 5:20 am to Tiguar
Posted on 11/16/17 at 5:20 am to Tiguar
quote:
if I wasn't getting raped by interest.
I love it when people say this. Do you know how high your interest rate would be if it wasn't for the federal government backing your debt with tax payer money? You already got a huge gift from the tax payers and now you don't want to stick to the original very favorable agreement? I just don't get it, students know exactly what they're signing up for and then bitch about after the fact.
1
Posted on 11/16/17 at 5:24 am to Upperaltiger06
The whole thing is a racket.
Government lends subsidized money to impressionable kids who were told by their parents for their entire lives "you have to go to college in order to get a good job".
Damn near every single entry level white collar job now requires a 4-year degree with a few years experience (both usually not required). This has even gone into jobs like retail where now managers need 4-year degrees.
Schools jacked up tuition prices to take advantage of the influx of cash and built new buildings, created thousands of new administrative jobs i.e. diversity coordinators.
Kids aren't getting a financial education from their parents or in school and have no clue about the financial implications of $60,000 in student loan debt.
Lots of parties to blame in this situation imo.
Government lends subsidized money to impressionable kids who were told by their parents for their entire lives "you have to go to college in order to get a good job".
Damn near every single entry level white collar job now requires a 4-year degree with a few years experience (both usually not required). This has even gone into jobs like retail where now managers need 4-year degrees.
Schools jacked up tuition prices to take advantage of the influx of cash and built new buildings, created thousands of new administrative jobs i.e. diversity coordinators.
Kids aren't getting a financial education from their parents or in school and have no clue about the financial implications of $60,000 in student loan debt.
Lots of parties to blame in this situation imo.
Posted on 11/16/17 at 5:36 am to TitleistProV1X
quote:
TitleistProV1X
You do realize the original intent for these programs backed with tax payer money is to produce more citizens with higher level skill sets who in return would be paying back to the government more tax dollars than they would without going to college.
People also have to remember what message board this is and the demographics of it. There are quite a few plant baws in here with no degree that over the last decade we’re making more money than grads and had this skewed view of life. So just like now how us grads make fun of plant baws losing their job and having no other skill set, there are s large majority here who enjoy making fun of grads for the loan issue.
I am in the company of you pay back what you owe, but I am also concerned for my generation as we are essentially set up right now to get into life later.
You see it with birth rates.
You see it with housing.
You would probably see it with cars, but a lot of folks 25-35 now I have migrated back to the city centers and vehicles become a lesser need.
I graduated with roughly 60k worth of college debt to get my EE. In reality I could of probably shaved off 10k. However, that’s a choice I lived with. Nobody owes me nothing, I can and have paid that loan back. I am just concerned that people who can’t will drag down everyone with them.
You see it now, free shite wanted everywhere.
Pre-tax payments would be I think a great middle ground to reel in the 1 trillion dollar debt load.
The government is still making money in interest payments. No reason to be double dipped on taxable income as well.
Posted on 11/16/17 at 5:37 am to Upperaltiger06
There are vet students I know personally that are so far in debt, they have no intention whatsoever of ever paying off the entirety of their student loans and won't have to in their lifetime by paying the minimum.
We need less student loans, not more; in my opinion. The current system is unsustainable.
We need less student loans, not more; in my opinion. The current system is unsustainable.
Posted on 11/16/17 at 5:38 am to slackster
quote:
150k in debt for a graduate degree. I can pay it back, but I could probably impact the economy more if I wasn't getting raped by interest.
You already stimulated the economy to the tune of $150k that they gave you to spend on things you couldn't afford.
My wife accrued about 250k in med school. I worked and we have a kid. We ate out about twice a year, never went to a movie, and prayed the electricty bill would be somewhat reasonable.
In other words, we slummed it for 4 years.
The majority of her loan was tuition, the rest going to rent/bills.
Now she is working (well, as a resident she is a slave) and paying off her debt. When she finishes her residentcy she will pay it off wven faster.
Point is, she knew what she was getting into and osnt trying to change the system because she doesnt feel like paying back her debt.
Posted on 11/16/17 at 5:40 am to 50_Tiger
This board is retarded when it comes to student loans. It is an absolute racket that will hurt my generation for years until something is done about it. Older generations have social security, pensions, Medicare, Medicaid, massive VA benefits, and other benefits. We will likely see only a small portion of that when we're older and we're getting a late start on buying a home, raising a family, and saving money because the cost of education has been inflated by greedy politicians and higher education administraters.
Not to mention the new tax plan would get rid of deducting student loan interest completely
Not to mention the new tax plan would get rid of deducting student loan interest completely
This post was edited on 11/16/17 at 5:41 am
Posted on 11/16/17 at 5:42 am to ksayetiger
quote:
My wife accrued about 250k in med school.
fricking hell
Posted on 11/16/17 at 5:42 am to TheOcean
quote:
TheOcean
Shhhhh. Blaming millennials is popular.
Posted on 11/16/17 at 5:43 am to TheOcean
quote:
Not to mention the new tax plan would get rid of deducting student loan interest completely
Good. Pay your shite off, millennial scum. We didn't have student loan debt back in my day.
This post was edited on 11/16/17 at 5:44 am
Posted on 11/16/17 at 5:45 am to TH03
quote:
My wife accrued about 250k in med school.
I had $40k in debt from undergrad. Went into the military, and lived like a monk for few years and paid it all off.
Now I'm out and using the GI Bill for grad school, but unfortunately it's capped because it's private school.
Will probably be leaving $160k ish in debt.
Although if all goes according to plan and the economy doesnt tank, I can pay it back in 5-7 years. 
Posted on 11/16/17 at 5:47 am to TheOcean
quote:
We will likely see only a small portion of that when we're older
Look at who is in Congress. Baby Boomers. They kicked the can down the road on social security, medicare, medicaid, and overwhelmingly benefit from Obamacare.
Thanks boomers.
Posted on 11/16/17 at 5:48 am to Azazello
$150k paid off in 5 years would be pretty baller. I had 75% of my tuition covered at a state school, had a full ride to law school, lived at home for a year and a half during law school, and got an advanced tax degree for a year after law school -- I still have $120k in student loans. That's insane.
I also have a small business and am being absolutely raped by taxes.
I also have a small business and am being absolutely raped by taxes.
Posted on 11/16/17 at 5:50 am to Azazello
We've been thrust into a shite system that we had no control over and now we are being fricked so that we can subsidize an older generation that did a shite job of saving and planning for the future.
Posted on 11/16/17 at 5:55 am to Azazello
quote:
I had $40k in debt from undergrad. Went into the military, and lived like a monk for few years and paid it all off. Now I'm out and using the GI Bill for grad school, but unfortunately it's capped because it's private school.
I was just gonna say why dont kids think about the military as option before getting loaded down in debt in their early 20's. Do your 4 years and get the government to pay a majority of your school. Sorry guy you had me till you said its a private school. i guess you didnt do the research
I think for a young person right out of high school the military would be a great option. Makes you responsible for your actions, teaches you discipline, how to work well with others etc.. I mean how many young adults have this going into college at 18 or their early twenties? plus your 22 or 23 having almost all your college paid for and you have a resume of military service and a college degree that is paid for.
This post was edited on 11/16/17 at 5:59 am
Posted on 11/16/17 at 6:01 am to FLObserver
quote:
i guess you didnt do the research
How did you come to this conclusion?
I was able to leverage my USMC experience and good test scores and get into one of the top graduate programs in the country. In my case, the cost of attending a top, private school is absolutely worth the extra tuition money. It is a drop in the bucket over a career horizon.
Posted on 11/16/17 at 6:05 am to Steadyhands
quote:
I agree with that. The people who get fricked the most are the out of state attendees that have to pay a higher cost for the same piece of paper to wipe their arse with. Whats with that, why do they charge more for out of state?
Public universities get quite a bit of funding from the state. It makes sense that in-state students get a discount on their fees as a result.
Posted on 11/16/17 at 6:07 am to TH03
quote:
My wife accrued about 250k in med school.
fricking hell
The cost of the 7 years to get my JD cost right over $100k (just tuition) between '85 and '92 the same degrees from the same schools would cost $325k now. That would probably put the total "cost" at around $400k. I think that is crazy. That said some degrees pay for themselves fairly quickly but someone could pay the same or more to get other doctorates that would never see near the same income as a MD or JD. While I am in favor of education just for the sake of education I can't help but think of the Damon line in Good Will Hunting: "You wasted $150000 on an education you coulda got for $1.50 in late fees at the public library".
People really need to weigh the cost of formal education against the expected income from it. Pick the right balance of cost/time/quality that gets you to where you want to be. Beyond that, you can educate yourself all you want for free or on the cheap. Plus, 18-22yo rarely get more than about 20% of the education they pay for, they just have other priorities. Tinder may have pushed that number down to 10%.
Posted on 11/16/17 at 6:07 am to slackster
Yeah that's an absurd complaint. Of course of out state students pay more. They haven't been paying taxes in that state to fund the school.
Posted on 11/16/17 at 6:13 am to TheOcean
quote:
This board is retarded when it comes to student loans.
The student loan program is a disaster because interest rates doe not represent the true risk of the loan AND it cannot be charged off in bankruptcy. If you want it to work like a traditional loan, the rates would quadruple.
Student loans are a good deal for students, if used properly. The fact that few people use them properly is the fault of the borrower.
quote:
the cost of education has been inflated by greedy politicians and higher education administraters.
The cost of education has been inflated by subsidized demand and this false notion that without a degree you can't do shite. Far too many people are in college because the money is cheap and they think they need to be. That's the problem.
Posted on 11/16/17 at 6:15 am to Azazello
quote:
How did you come to this conclusion?
I was able to leverage my USMC experience and good test scores and get into one of the top graduate programs in the country. In my case, the cost of attending a top, private school is absolutely worth the extra tuition money. It is a drop in the bucket over a career horizon.
Sorry Bro! i thought you were complaining about the extra debt but it looks like you have a plan
I used my GI bill to pay for the majority of my college. just wish more people would consider this as an option instead of being 100k in debt right out of college.This post was edited on 11/16/17 at 6:16 am
Page 3 of 6
Popular
Back to top
Follow TigerDroppings for LSU Football News