Forgive Student Loan Debt

[logical4u]

Funny, the O, isn't mentioning the "students' share of the 5,000,000,000 debt he is racking up (soon to be more). He is only focusing on the naive children going to college, and telling them it is all about taking care of them, while he is slipping the yoke over their shoulders. When he is done, they will pay for his debt for the rest of their lives (and if he is re-elected, their children will be born wearing yokes). Wake up, America!

 

[Katzndogz]

The one thing that these outrageous student loans have done is cause a few people to start questioning liberal orthodoxy. Maybe not everyone should go to college. Maybe people shouldn't be getting worthless degrees.

A reasonable and logical solution would be to attach a real value to college degrees. Degrees that will result in a good job and career can cost more and it should be easy to get these loans. Charge much less for vanity degrees that produce a piece of paper but have no real value. There should be no available loans, grants or scholarships for vanity degrees.

 

[PredFan]

4 years of college, then 3 years graduate school, no debt. The 4 years I did in the military paid for my 4 years in college, and I worked full time while going to grad school.

Two kids graduated from college, one in college, two in high school. No debt. Florida Pre-paid College Program paid for their college and what wasn't covered by that was paid for with Bright Futures.

Will be the same with the other two.

 

[Liability]

If Sen. John F'n Lurch Kerry and President George W. Bush can release their college records, then why the fuck can't The ONE do the same?

 

[Katzndogz]

Student loan debt will never be forgiven. The burden of paying the debt will be shifted to the tax payer, but it won't be forgiven. Suppose it was, a $60,000 loan is forgiven resulting in windfall income to the student of $60,000 for one year that the student now owes taxes on. Like any other debt that's forgiven. The outrage now isn't to forgive the loan, but forgiven the taxes on the loan that has become unearned income.

 

[Gremlin-USA]

Forgive their Debt?

Why?

Are they saying they were too stupid to realize what taking out a loan was?

Everyone I know paid for their own college by working and/or paying their loans back

Why are today's students so special ?

Do they think they are better than their predecessors?

Do they think someone else owes them a living?


.

 

[Gremlin-USA]

If Sen. John F'n Lurch Kerry and President George W. Bush can release their college records, then why the fuck can't The ONE do the same?

Because he is one big pile of lies...



.

 

[KevinWestern]

Funny, the O, isn't mentioning the "students' share of the 5,000,000,000 debt he is racking up (soon to be more). He is only focusing on the naive children going to college, and telling them it is all about taking care of them, while he is slipping the yoke over their shoulders. When he is done, they will pay for his debt for the rest of their lives (and if he is re-elected, their children will be born wearing yokes). Wake up, America!

$5 billion is really not that hard to pay back.

And note, the children will be paying back BOTH Obama's and Bush's debt for the rest of their lives. The a Republican Party sucks too, you know.

 

[KevinWestern]

Funny, the O, isn't mentioning the "students' share of the 5,000,000,000 debt he is racking up (soon to be more). He is only focusing on the naive children going to college, and telling them it is all about taking care of them, while he is slipping the yoke over their shoulders. When he is done, they will pay for his debt for the rest of their lives (and if he is re-elected, their children will be born wearing yokes). Wake up, America!

Plus, much of Obama's spending was reactionary due to the recession (unemployment - for example). If you really want to get mad at the government debt, you should start with the Bush years. During this time, the government stupidly thought that it made sense to uphold major tax cuts during a time when it needed to fund two major wars. Morons.

That's like a person who just got a 20% cut in pay thinking it's OK to drastically increase their spending habits.

 

[OldManOnFire]

Forgive their Debt?

Why?

Are they saying they were too stupid to realize what taking out a loan was?

Everyone I know paid for their own college by working and/or paying their loans back

Why are today's students so special ?

Do they think they are better than their predecessors?

Do they think someone else owes them a living?


.

It's all political BS...pandering for votes...

 

[KissMy]

You must admit that college is a complete failure if it fails to pay for itself & we must forgive student loans.

I have a good friend who was over here crying on my couch about her huge student loan debt. The thing is I have known her every since she graduated. She has been partying, spending hundreds every couple of weeks on hair & nails, buying nice cars & house instead of paying off her loan. Now her student debt has double because she failed to make her required payments. It not my problem that she had had a good time on her higher than normal income thanks to her education instead of paying back the loan first.

 

[Samson]

You must admit that college is a complete failure if it fails to pay for itself & we must forgive student loans.

I have a good friend who was over here crying on my couch about her huge student loan debt. The thing is I have known her every since she graduated. She has been partying, spending hundreds every couple of weeks on hair & nails, buying nice cars & house instead of paying off her loan. Now her student debt has double because she failed to make her required payments. It not my problem that she had had a good time on her higher than normal income thanks to her education instead of paying back the loan first.

WWHAAAAAAAAT?!

Are you implying that there are those that would take advantage of an "it takes a village" social philosophy?

 

[OldManOnFire]

You must admit that college is a complete failure if it fails to pay for itself & we must forgive student loans.

I have a good friend who was over here crying on my couch about her huge student loan debt. The thing is I have known her every since she graduated. She has been partying, spending hundreds every couple of weeks on hair & nails, buying nice cars & house instead of paying off her loan. Now her student debt has double because she failed to make her required payments. It not my problem that she had had a good time on her higher than normal income thanks to her education instead of paying back the loan first.

On NPR this morning someone stated that the 'average' student loan amount at graduation is $25,000. With or without employment at graduation, this is a lot of debt.

Using an Internet loan payment calculator, a $25000 loan, with a term of 10 years, at 3% interest, is about $241 per month. At 6% it's about $278 per month. This makes the total paybacks at $28920 and $33360.

What is obvious assuming the math above is correct, in this scenario of a $25000 student loan, all this political BS about loan payments doubling is just that...political BS. The difference between $241 and $278 is a lousy $37 which means this entire issue is meaningless political BS pandering for votes!

The real root issue is idiot college graduates taking on $25000 in debt then whining when they need to pay back that debt...if they were smarter and actually read/cared about the loan contract they signed, all of this would be a moot point EXCEPT for Obama pandering for votes...

 

[Katzndogz]

Part of the blame for tuition hikes does belong to the government. Colleges and Universities hiked tuitions because the loans were so easy to get. Professors got enormous hikes in salaries and the administrations were able to build new stadiums, new buildings, and enhance their images using this free money.

 

[KevinWestern]

You must admit that college is a complete failure if it fails to pay for itself & we must forgive student loans.

I have a good friend who was over here crying on my couch about her huge student loan debt. The thing is I have known her every since she graduated. She has been partying, spending hundreds every couple of weeks on hair & nails, buying nice cars & house instead of paying off her loan. Now her student debt has double because she failed to make her required payments. It not my problem that she had had a good time on her higher than normal income thanks to her education instead of paying back the loan first.

On NPR this morning someone stated that the 'average' student loan amount at graduation is $25,000. With or without employment at graduation, this is a lot of debt.

Using an Internet loan payment calculator, a $25000 loan, with a term of 10 years, at 3% interest, is about $241 per month. At 6% it's about $278 per month. This makes the total paybacks at $28920 and $33360.

What is obvious assuming the math above is correct, in this scenario of a $25000 student loan, all this political BS about loan payments doubling is just that...political BS. The difference between $241 and $278 is a lousy $37 which means this entire issue is meaningless political BS pandering for votes!

The real root issue is idiot college graduates taking on $25000 in debt then whining when they need to pay back that debt...if they were smarter and actually read/cared about the loan contract they signed, all of this would be a moot point EXCEPT for Obama pandering for votes...

I don’t know about you, but an extra $37/month for TEN YEARS is no petty amount! What sort of disconnected world are you living in?

And I disagree with your “root cause” assessment. The root cause of the whole situation is the fact that college costs are rising on average of 4-6% per year while the normal inflation rate is only at about 2%. It’s simply not sustainable.

Sure, students have a “choice” whether or not to attend college, but it comes at a great cost. Most all management positions (and entry-level positions for that matter) where I work require a 4-year degree. I don’t think my company is alone on this policy.

 

[KissMy]

Obama is pandering because his economic / jobs policy has failed.

CNN: Boomerang kids: 85% of college grads move home

"Stubbornly high unemployment -- nearly 15% for those ages 20-24 -- has made finding a job nearly impossible"
.

 

[KevinWestern]

Part of the blame for tuition hikes does belong to the government. Colleges and Universities hiked tuitions because the loans were so easy to get. Professors got enormous hikes in salaries and the administrations were able to build new stadiums, new buildings, and enhance their images using this free money.

It's a lot easier to expand and build outward when the money's easy, than contract inward when the funds get tight.

You see this sort of thing happen to the government itself, too

.

 

[OldManOnFire]

Part of the blame for tuition hikes does belong to the government. Colleges and Universities hiked tuitions because the loans were so easy to get. Professors got enormous hikes in salaries and the administrations were able to build new stadiums, new buildings, and enhance their images using this free money.

No matter if loans are difficult or easy to obtain, those taking out the loans should not be so stupid that they don't understand or care about the $25,000 in debt they are creating which must be repaid at prescribed terms and interest rates. Every student who applied for a loan did so willingly with no gun held to their head! Do not blame government for people not taking responsibility for THEIR actions...

 

[OldManOnFire]

You must admit that college is a complete failure if it fails to pay for itself & we must forgive student loans.

I have a good friend who was over here crying on my couch about her huge student loan debt. The thing is I have known her every since she graduated. She has been partying, spending hundreds every couple of weeks on hair & nails, buying nice cars & house instead of paying off her loan. Now her student debt has double because she failed to make her required payments. It not my problem that she had had a good time on her higher than normal income thanks to her education instead of paying back the loan first.

On NPR this morning someone stated that the 'average' student loan amount at graduation is $25,000. With or without employment at graduation, this is a lot of debt.

Using an Internet loan payment calculator, a $25000 loan, with a term of 10 years, at 3% interest, is about $241 per month. At 6% it's about $278 per month. This makes the total paybacks at $28920 and $33360.

What is obvious assuming the math above is correct, in this scenario of a $25000 student loan, all this political BS about loan payments doubling is just that...political BS. The difference between $241 and $278 is a lousy $37 which means this entire issue is meaningless political BS pandering for votes!

The real root issue is idiot college graduates taking on $25000 in debt then whining when they need to pay back that debt...if they were smarter and actually read/cared about the loan contract they signed, all of this would be a moot point EXCEPT for Obama pandering for votes...

I don’t know about you, but an extra $37/month for TEN YEARS is no petty amount! What sort of disconnected world are you living in?

And I disagree with your “root cause” assessment. The root cause of the whole situation is the fact that college costs are rising on average of 4-6% per year while the normal inflation rate is only at about 2%. It’s simply not sustainable.

Sure, students have a “choice” whether or not to attend college, but it comes at a great cost. Most all management positions (and entry-level positions for that matter) where I work require a 4-year degree. I don’t think my company is alone on this policy.

$37 per month is not enough money for Obama to make this college loan issue a national catastrophe!! This is political BS.

Fact remains that every student with these loans has full knowledge about the interest rate agreement. If they didn't pay attention or didn't care; well shame on them. If they did pay attention, then instead of complaining figure out how to prioritize $37 per month from other stuff.

Most all colleges have more demand than supply. This means the prices can go higher. If enrollment dropped where supply was greater than demand then the prices will go down. How can you find fault with this?

Bottom line is this entire issue is political BS pandering for votes...

 

[Staidhup]

Does that mean I get a rebate from the government after paying for my children's college? all right! bring it on, where do I apply?