Results 21 to 30 of 78
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09-28-2012, 09:49 AM #21
- Join Date
- Aug 2012
- Posts
- 128
Last edited by xlax; 09-28-2012 at 10:16 AM.
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09-28-2012, 11:05 AM #22
- Join Date
- Jan 2008
- Location
- Greenville, SC
- Posts
- 232
Gotta say, I like the effort to deal with the student loan crisis...it is one that needs immediate attention. I like elements of the plan, like keeping interest rates low and making a 10% cap based on income. The forgiveness after 10 years though doesn't sit too well with me, I'm not sure if that is sustainable at all, especially if they have consolidated out to 20 years. I wish student loans were more like home loans in terms of refinancing. Consolidations are great and I did it myself to lower payments and get a lower rate, but you can only do it once. I did it before the rates hit rock bottom before the crisis. Now I can't take any advantage of the ridiculously lower rates now. That kinda sucks. Also I agree with Boozehound that there is a huge disconnect with college bound kids about what to expect from their chosen majors and what kind of loans they will be facing after college. This is something that needs to be seriously taught to students at some point prior to them signing a promissory note.
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09-28-2012, 11:10 AM #23
Student Loan Forgiveness Act of 2012
How about instead of trying to fix the result of the problem (student loans) the government take a look at why colleges on average increase their tuition by 8% every year.
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09-28-2012, 11:28 AM #24
That's fine then, and that needs to be part of people's decision making process when deciding (a) whether or not to attend schooling for those degrees as well as (b) what school to attend.
For example, I would argue that going $100K into debt to get a degree from a Tier 3 law school is probably not a smart choice for most. If you have rich parents who are going to bankroll you, go for it I guess, but if you are paying yourself you need to realize what your likely salary and job prospects are and take that into account.
I don't disagree with this at all. My recollection from college is that a great many students are misinformed in general about how much money they are likely to make coming out of school. Many of them thought that they were, for sure, going to make $60K+ right out of Xavier. The reality when people graduated is that many were starting out at a little over 1/2 that.Eat Donuts!
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09-28-2012, 11:40 AM #25
My uncle paid for my college. 100% of it.
Uncle Sam.
Sack up, America.
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09-28-2012, 12:45 PM #26
Student Loan Forgiveness Act of 2012
My first job after graduation in 1980 paid me a salary of $300 a week or $15,600 a year. If I remember correctly, X was about $4,000 a year back then, so I would just about cover 4 years with my first year salary. I doubt if anyone graduating this year will be able to say that
Sent from my iPhone using TapatalkGolf is a relatively simple game, played by reasonably intelligent people, stupidly.
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09-28-2012, 02:21 PM #27
Think a guy like John Boehner who worked two jobs to pay his Xavier tuition and not have any lingering debt would agree to legislation forgiving college loans?
The fact is that by forgiving loans, you further erode personal responsibility. I don't buy an item that I cannot afford. I drive Fords and not Lincolns.
There are many ways to gain a college degree. if the college is raising tuition too much, don't attend there if you can't pay the freight...and that includes Xavier. Many folks start at a community college that will transfer credits then wind up at a four year school and get a degree from that school which saves money.
Sorry. Be responsible, grow up and figure it out if the parents can't afford it. By the way. How many parents could afford paying their kids college if they wouldn't have overpaid vacations, expensive options on their houses and other luxuries? I'm not rich, but I was able to pay for 3 kids' college- One to Xavier, One to Loyola Chicago and one to Ohio University.
I have little sympathy."I Got CHAMPIONS in that Lockerroom!" -Stanley Burrell
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09-28-2012, 02:43 PM #28
People admonishing students for taking out loans to go to a college they want blow my fucking mind.
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09-28-2012, 03:04 PM #29
Its called a free market here in America
This is total bullshit.
Explain to me how this is an different than any other purchasing decision you make over your lifetime ?
Do you biuy a house you can't afford ?
Do you buy cars, boats etc that you can't afford ?
Another example of our weak ass government getting in the middle of somehting that they have no business doing.
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09-28-2012, 03:06 PM #30
I'm not admonishing anyone for going to the college they want. I'm admonishing people for thinking it is a good idea for taxpayers to pay off the loans the student's took out to go to said college.
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