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Started By
Message
re: U.S. poised to forgive $108 billion in student debt
Posted on 11/30/16 at 5:44 pm to RLDSC FAN
Posted on 11/30/16 at 5:44 pm to RLDSC FAN
So people like myself and my wife will still have to keep paying on our student loans since we are in normal repayment plans? I guess we are the chumps paying for everyone else.
0
Posted on 11/30/16 at 5:45 pm to NYNolaguy1
A lot of the loan forgiveness goes to people working in needed professions in high-need areas.
Otherwise, Obama's big change has been in providing the option of loan repayment as a percentage of monthly income. This is a good thing.
I suspect the cost of loan default in the recent past has been pretty high.
Otherwise, Obama's big change has been in providing the option of loan repayment as a percentage of monthly income. This is a good thing.
I suspect the cost of loan default in the recent past has been pretty high.
Posted on 11/30/16 at 5:51 pm to IStandBytheU
Loans shouldn't be available if you're majoring in hipster.
This post was edited on 11/30/16 at 5:52 pm
Posted on 11/30/16 at 5:54 pm to RLDSC FAN
Well frick me.
I paid for one kids grad and post grad degrees and the second is almost done. Instead of the graduating debt free I could have had them just borrow the money come out with a shite ton of debt that doesn't need to be paid back.
frick I could have saved a few hundred thousand.
I paid for one kids grad and post grad degrees and the second is almost done. Instead of the graduating debt free I could have had them just borrow the money come out with a shite ton of debt that doesn't need to be paid back.
frick I could have saved a few hundred thousand.
Posted on 11/30/16 at 5:56 pm to TigerFred
Is your dream for them to have low income jobs for 10+ years after graduating? Because this isn't just blanket forgiveness.
Posted on 11/30/16 at 6:09 pm to CorporateTiger
quote:
Jesus what interest were you paying that lead you to put 90k into those in two years?
10.5 (private school that didn't take federal loans) then qualified for another loan that got us down to 5.75 when we consolidated them.
It was more about not wanting to have that shite hanging over us when we eventually decided to buy a house and have kids.
This post was edited on 11/30/16 at 6:11 pm
Posted on 11/30/16 at 6:12 pm to hombreman9
Posted on 11/30/16 at 6:14 pm to hombreman9
quote:
Don't loose too much sleep over it. They will spend the rest of their lives bailing out boomer pensions, social security and Medicare. You are winning.
You make a great point, but I wish you could spell 'lose'.
Posted on 11/30/16 at 6:16 pm to AUCE05
quote:
I don't see a problem in investing in education for Americans. We, as a country, will see a higher ROI than spending 20 Billion in the Middle East fighting wars.
and we can never get enough African American/Women's/Gender Studies majors can we?
Posted on 11/30/16 at 6:18 pm to Cajun Cricket
quote:
In reality, the government TAKES from one group of people and GIVES to others. They get away with this because bleeding heart liberals say things like "i'm glad the government is investing in education, healthcare, cell phones, foreign aid, etc."
Taking money from people who have earned it and giving it to people who haven't. It's the liberal way.
Posted on 11/30/16 at 6:25 pm to RLDSC FAN
The whole student govt debt racket is designed to funnel tax money into another leftist dominated industry.
Colleges don't exactly have to knock themselves out controlling costs when govt loan money laundered through students is there to pay everything
Colleges don't exactly have to knock themselves out controlling costs when govt loan money laundered through students is there to pay everything
Posted on 11/30/16 at 6:55 pm to CorporateTiger
IBR? PLSF? Have no idea what you are talking about. I was paying the limit plus some over principle to knock it out. This loan was to pay for my Masters from LSU. I graduated in 96 and started making payments when I was making $18,500/year from EBR School System. When I stated making bank when I left teaching, I got aggressive paying it down.
Posted on 11/30/16 at 6:57 pm to upgrayedd
quote:
Nothing like giving millennials even more of a reason to be a smarmy, entitled, worthless group of people
I'm a millennial and never had a dime of student debt. Been working for 10 years now out of high school. Suck it, old man.
Posted on 11/30/16 at 6:59 pm to TH03
You're one of few. Congrats.
Posted on 11/30/16 at 6:59 pm to WildcatMike
Then this may have actually impacted you. This isn't just blanket forgiveness for everyone. This an accounting of the expected forgiveness from pre-existing programs designed to help those with low income leaving college.
Most people in this thread talking about "OMG why didn't I take loans" would never have been impacted by that
Most people in this thread talking about "OMG why didn't I take loans" would never have been impacted by that
Posted on 11/30/16 at 6:59 pm to NYNolaguy1
quote:
quote:There are a couple problems here. 1. The cost of college is way too high because they're run by bloated govt bureaucracies so most of the problem lies with the govt itself. 2. Paying for some retard to get a degree in art history or gender studies is not an investment. It's pissing away taxpayer money. So restrict access and offer degree programs as dictated by industry. Don't have enough doctors? Offer to pay their school bill, on the condition they work in certain sectors for a certain time. Don't have enough welders/carpenters? Put the higher education dollars in votech programs. The money should go to where the jobs will be, not where the students want to go.
sounds like communism to me.
Posted on 11/30/16 at 7:05 pm to CorporateTiger
I'll just ask my accountant about this during tax season. I am done paying it off. If anything, I do believe it helped my credit score which is really high...when we got my wife her new Pilot, the bank told me my credit ranking is pretty impressive, so I have that going for me.
Posted on 11/30/16 at 7:11 pm to WildcatMike
If you've paid yours off (or aren't making 18k/year) this won't help you.
Posted on 11/30/16 at 7:17 pm to CorporateTiger
Lulz, no...when I first got out...I was making $18,500 teaching. I taught for 3 years. and moved on. Let's say, I would make that in bonuses in 2 quarters 
Posted on 11/30/16 at 7:53 pm to RLDSC FAN
Would be interesting to see the breakdown on professions/degrees of those whos loan will be eligible for forgiveness when talking about these numbers. Especially for those who will have loans forgiven with PLSF.
I know several.colleagues who are paying into the system/IBR during residency/fellowship as opposed to doing forbearance as years done in residency/fellowship count towards to the 10yr PLSF requirements.
I.e. those doing neurosurgery(7 years + fellowship), cardiology EP or interventional(8-9years) are paying minimal.payments (relative to what their eventually salary would be) over those years and have a significant amount of the loan forgiven(debt of 200k+)
I know several.colleagues who are paying into the system/IBR during residency/fellowship as opposed to doing forbearance as years done in residency/fellowship count towards to the 10yr PLSF requirements.
I.e. those doing neurosurgery(7 years + fellowship), cardiology EP or interventional(8-9years) are paying minimal.payments (relative to what their eventually salary would be) over those years and have a significant amount of the loan forgiven(debt of 200k+)
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