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| Topic: Re finance student loan,, interesting idea | |
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Elizabeth Warren wants paying for college to be like paying for a car.
No, she doesn’t want mandatory airbags in colleges or Presidents’ Day sales on tuition. Instead, the senator from Massachusetts wants students to be able to refinance federal student loans. ....... read more at: http://news.yahoo.com/pay-college-car-104500839--politics.html |
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Hell, at that rate, I need to offer loans.
But, the Fed. is the slickest loan shark. One person on that page commented, You can refinance your student loans its called "Personal Loan". .............. Any loan I've ever applied for,I needed collateral. |
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here is an idea..
don't go to harvard and major in geography or fine art.. huh.. |
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point made
and for those not attending Harvard or majoring in geography or art the option to refinance the loans is a helpful one,,,, |
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Who, in their right mind would loan money to someone who's defaulted?
Collecting loan defaults is managed by collection agencies. |
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point made and for those not attending Harvard or majoring in geography or art the option to refinance the loans is a helpful one,,,, I paid back my loans without taxpayer subsidies.. But I didn't major in general studies or communications.. Now I am supposed to feel sorry? |
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no
you are one case of many,, hooray for you no need to feel anything but for all the others who weren't so able or fortunate, I still FEEL its a good option for them to have,,, |
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Edited by
InvictusV
on
Sun 02/09/14 04:33 PM
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no you are one case of many,, hooray for you no need to feel anything but for all the others who weren't so able or fortunate, I still FEEL its a good option for them to have,,, the option is go to a public school and major in something that you can get a job quickly after graduating.. where you get your undergraduate degree is pretty irrelevant. get a job after graduating and then when you have some stability pick a more prestigious school for a graduate degree.. I am sorry, but this falls under the category of irresponsible choices and in my OPINION the taxpayers are going to get screwed over again for it.. |
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that's the beauty of 'options'
pay something upfront to invest in the future or pay something later to correct what trying to save some dollars helped to create,, I think its less of an investment UPFRONT , educating the youth, than paying later by building jails, paying welfare and providing food stamps when their jobs (without degrees and competing still wth those WITH DEGREES) just don't cover it now , it is also an option to take longer to graduate by splitting time between earning the tuition and LIVING EXPENSES In advance so one can attend college,,,,, Ive nothing but respect for either, as they both bring society out ahead and moving forward,,, |
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Edited by
InvictusV
on
Sun 02/09/14 04:41 PM
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that's the beauty of 'options' pay something upfront to invest in the future or pay something later to correct what trying to save some dollars helped to create,, I think its less of an investment UPFRONT , educating the youth, than paying later by building jails, paying welfare and providing food stamps when their jobs (without degrees and competing still wth those WITH DEGREES) just don't cover it now , it is also an option to take longer to graduate by splitting time between earning the tuition and LIVING EXPENSES In advance so one can attend college,,,,, Ive nothing but respect for either, as they both bring society out ahead and moving forward,,, What we are talking about is refinancing loans after the person has graduated. The reason people are defaulting at such an alarming rate is that they can't find a job that affords them the resources to pay back the loan. The money is available UPFRONT. Anyone can get a government loan. I would need to see some statistics of those people with degrees going out and committing crimes to pay back their loans and ending up in jails.. |
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Edited by
msharmony
on
Sun 02/09/14 04:46 PM
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when people don't have degrees or college and are competing with those who do have degrees or college , they are much LESS LIKELY To get the type of jobs that will allow the resources to pay back the exhorbitant loans AND INTEREST RATES That continue to accrue
whn people cant find decent paying jobs, they are more likely to live in POVERTY when people live in POVERTY they can be desperate enough to turn to crime and quick fixes and are more likely to face arrest, conviction and imprisonment for those choices more crime, more jails more poverty, more welfare invest in it upfront or pay for it later,, I prefer the upfront investment but its a matter of an investment PLAN That actually is workable |
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I worked my way through college so my loans overall were pretty small. I paid them off just like any other debt.
There is a value to the use of money. It is called interest. No student has to borrow all his costs. He or she can do what I did and work more and play less. It was tough but now the US is broke so I don't see how finding more ways to make the government even more broke is a good idea. Nobody forced the loans on anyone. |
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when people don't have degrees or college and are competing with those who do have degrees or college , they are much LESS LIKELY To get the type of jobs that will allow the resources to pay back the exhorbitant loans AND INTEREST RATES That continue to accrue whn people cant find decent paying jobs, they are more likely to live in POVERTY when people live in POVERTY they can be desperate enough to turn to crime and quick fixes and are more likely to face arrest, conviction and imprisonment for those choices more crime, more jails more poverty, more welfare invest in it upfront or pay for it later,, I prefer the upfront investment but its a matter of an investment PLAN That actually is workable Ok... Let people that didn't finish refinance.. FINE Everyone else that did graduate has to pay their loans back without taxpayer subsidy.. If not then the rest of us that did pay it back should get a check for the higher tax rate we had to pay.. Sounds fair to me... |
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Edited by
msharmony
on
Sun 02/09/14 04:57 PM
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anyone borrowing should be able to refinance their interest terms
that has nothing to do with whether the principal will be paid back,, just at what rate of interest which keeps rising to ridiculous rates,,,, |
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anyone borrowing should be able to refinance their interest terms that has nothing to do with whether the premium will be paid back,, just at what rate of interest which keeps rising to ridiculous rates,,,, they are fixed at 3.8% for phucks sake.. its not like they are 24%.. http://studentaid.ed.gov/types/loans/interest-rates |
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anyone borrowing should be able to refinance their interest terms that has nothing to do with whether the principal will be paid back,, just at what rate of interest which keeps rising to ridiculous rates,,,, The fact that you think they are at "ridiculous" rates is ridiculous. |
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A savings to the taxpayer is let happen what's happening now.
Collection agencies doing their job. |
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Hey, if a college graduate wants to turn to a private lender to obtain a personal loan in order to pay off a federal loan, then I am all for it.
That is how refinancing works. One borrows from Lender A to pay off Lender B. |
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no you are one case of many,, hooray for you no need to feel anything but for all the others who weren't so able or fortunate, I still FEEL its a good option for them to have,,, the option is go to a public school and major in something that you can get a job quickly after graduating.. where you get your undergraduate degree is pretty irrelevant. get a job after graduating and then when you have some stability pick a more prestigious school for a graduate degree.. I am sorry, but this falls under the category of irresponsible choices and in my OPINION the taxpayers are going to get screwed over again for it.. Non prestigious medical schools are around 180k. After paying for a 4 year degree that is prestigious enough to compete for a slot in the 180k program. Many cost more. Got friends graduating 300k in debt. Irresponsible, perhaps. But costs and interest rates are killing people. Law school is more than 100k. Hit or miss as far income is concerned after graduation. I agree. Going to college for the sake of going to college is foolish nowadays. You need a plan. But this is madness. Honestly I wish banks would have stayed out of college from the beginning. Costs would be MUCH lower. |
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it depends upon how long and how much one can pay
if it will take longer to pay off, the payments are smaller but the total interest paid is MUCH HIGHER,,, if one makes LARGER payments to pay off quicker, the total interest paid is MUCH HIGHER so . for those who can best afford it, they are asked for less IN ADDITION to what they borrowed for those who must struggle more to afford it, they are asked for MORE IN ADDITION to what they borrowed, in any case, for those who have to 'work hard' to afford it,, the rates can become ridiculous |
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