Student Loan Payments - GOING UP!

[femurphy77]

Isn't the rest of this story that they also want to forgive any outstanding student loan debt after 20 years? I read that the mean ole republicans asked a stupid question; "How are we going to pay for this and how much is it going to cost?" The response was that they won't know how much it is going to cost until the back end of the program. Sounds kinda like "We have to pass this bill to see what's in it!"

 

[Fuzz]

Isn't the rest of this story that they also want to forgive any outstanding student loan debt after 20 years? I read that the mean ole republicans asked a stupid question; "How are we going to pay for this and how much is it going to cost?" The response was that they won't know how much it is going to cost until the back end of the program. Sounds kinda like "We have to pass this bill to see what's in it!"

I am wondering about this as well because I have heard it as well. That would cause billions or trillions more in debt.

 

[PistolBob]

My ideas on federal government and their intervention in Higher Education

The feds needs to look at this from a business aspect. I'd like to see the department do an annual or bi-annual survey of the jobs market in the US. Then sit down and debate and decide which jobs are the most important to a strong and prosperous America, predict what we will be needing. Then post that listing, offering interest free or very low interest loans to students that want to pursue these well needed fields of employment and education. Everything else is ala cart and on you. Why are we subsidizing loans for useless degrees, using public money? BIG MISTAKE. Competition for these free or almost free educations will be great so we as a nation can select the best of the best to have this bestowed on them.

I also think that we need to start offering MUCH better vocational training to the kids in high school. Construction trades, manufacturing skills, clerical trades, local government management, etc etc and concentrate harder on math and science efforts in 1-8 grades.

 

[RockofStrength]

My ideas on federal government and their intervention in Higher Education

The feds needs to look at this from a business aspect. I'd like to see the department do an annual or bi-annual survey of the jobs market in the US. Then sit down and debate and decide which jobs are the most important to a strong and prosperous America, predict what we will be needing. Then post that listing, offering interest free or very low interest loans to students that want to pursue these well needed fields of employment and education. Everything else is ala cart and on you. Why are we subsidizing loans for useless degrees, using public money? BIG MISTAKE. Competition for these free or almost free educations will be great so we as a nation can select the best of the best to have this bestowed on them.

I also think that we need to start offering MUCH better vocational training to the kids in high school. Construction trades, manufacturing skills, clerical trades, local government management, etc etc and concentrate harder on math and science efforts in 1-8 grades.

I think we've seen the results of a planned economy before. Never seems to work out very well.

 

[PistolBob]

I think we've seen the results of a planned economy before. Never seems to work out very well.

This isn't a planned economy though. It's just having the feds use their heads when giving out public money. There is nothing wrong with that.

If you want a degree in Scadanavian Underwater Oil Painting, by all means....pursue it...I just don't want public money paying for your venture.

 

[forgop]

Due to my line of work, my entire balance is forgiven after 10 years, so I pay the bare minimum.

 

[Lex Concord]

Education is like any other market. If you want the market to perform well, keep governments the hell out of it except to punish fraud. Anything else distorts market signals and impacts cost and/or quality of product.

No one deserves a degree, especially on someone else's dime.

 

[forgop]

No one deserves a degree, especially on someone else's dime.

Given our handout society, I'm more inclinded to believe helping someone else earn a college education (providing they make use of it obviously) is a better ROI than the money we hand out with absolutely no ROI. I'm not saying they should go to Yale, but someone earning credits at Ivy Tech type of rates is better for our country than the deadbeats who aren't even participating in the workforce.

 

[Leo]

As a Taxpayer who paid for all of my college on my own over the last 30 plus years ( I didn't even get a pen and pencil set from my mother ), I can not even understand the peoples mindset that their college loans make them some sort of victims. When they signed the loan papers, it was completely voluntary. When they spent the money, it was on the school that they wanted. Their education should give them a better status in life. They are the ones that decided it was worth it to fulfill the terms of the loan in exchange for a better chance in life. They were not drafted, it was all their choice.

Fast forward ten years, All the time they spent in college learning how to drink and learning how to fulfill lusts and social calenders did not pay off. Chasing the ball teams around and celebrating sports victories on borrowed money was a bad investment. Now they find that paying the loans is a burden. It its really inconvenient. It gets in the way of things they want to do. TOO STINKIN" BAD! Pay your own bills!

Do you know what I did with my high interest debit? I paid it off. That means I didn't have a lot of recreation or expensive wants. That means I missed out on a lot of nice things. It also means I kept my integrity.

How low has personal integrity fallen that it seems right to the masses to have someone else pay your bills just because you don't want to. What a bunch of whinners. I am surprised that the stores can still sell mirrors.

 

[forgop]

You seem to forget about the entitlement mindset we live in today. The poor in the USA are able to get housing and have heat, air conditioning, cable TV, internet, food, and a smart phone if they want it without doing a darn thing to contribute. What makes you think they view having to pay for a college education themselves is any different? After all, when they can have their student loans forgiven, that's just more money they can spend on themselves.

 

[ATOMonkey]

I think student loans have always been a bad idea. First, it takes away all incentive to either shop for or provide a better value in education.

Secondly, 18 year olds don't make the best decisions...ever. To ask HS senior to make a 30+ year gamble that could very likely cripple them financially, is irresonpsible at best.

My children will probably not attend traditional 4 year college unless things turn around.

 

[HoughMade]

I don't think student loans are a bad idea. I think government involvement in student loans is a bad idea.

I took out rather modest loans for law school. My wife and I looked at it in the same way as what any small business may do to secure money for start-up costs. However, were were careful and I came out with loan payments equivalent to a payment on a stripper Camry (btw, no car loans since 2000, but I digress). It worked out well. I had friends who financed most or all of undergrad, and law school including living expenses and came out with loan payments more like a McMansion.

Just like I wouldn't take out a loan without a definite plan for how that money will benefit me (no vacations or to consumer goods I could save for), I would not suggest taking out student loans without a determined career path. Want to find yourself? Dial up your Uncle Sam or work somewhere for a while.