like_that;1284590 wrote:I was fortunate enough not to have any loans. In fact I finished both degrees with a good amount of money left.

gut;1284593 wrote:At least not for anyone with a job or making more than a certain amount. Kind of like a "you tried and failed...we're sorry so let us pick-up the tab".

You can't forgive student loan debt any more than you can mortgages. Now I agree something will happen, but what that probably means is student loans will now be able to be discharged in bankruptcy. That means higher rates for everyone.

There's a bubble in student loans and all of gubmit making. I can't think of a single reason why the gubmit should be involved in that business. Student loans are a $1T+ failure. They haven't made college more attainable or affordable, they've just squeezed out some private money and billed the taxpayer for the cost of that.

Tiernan;1284603 wrote:I'll be on the F'n news as a crazed gunman mowing down State Reps if the Govt forgives Student Loans. All us old Fkrs had to pay years and years and now all you young dooshers need to do the same.

O-Trap;1284620 wrote:That's just damn impressive. Reps.

O-Trap;1284545 wrote:I have about $50K to go.

Damn private school tuition.

mucalum49;1284633 wrote:+1 It kills me to know that what I pay between rent and student loans I could have a mortgage on a pretty nice place (~$1500/mo).

As for student loan forgiveness for everyone, I don't think that'd be right but I wish they brought back the payment extension program if you're over a certain amount. When I started paying mine off (11/2008) it was based on a 25-30 year pay back plan, can't remember exactly. The idea was to pay less when you start out and obviously you can increase your payment as your income goes up. My loans at that time were like $250/mo. When I went back to school full time they deferred my loans. When I got out in August 2010 that program had been disbanded causing my payments to triple. So I paid less the first 18 months and have to make up the remainder in the 8.5 years after.

I guess it's good I'll be done paying them off sooner but I'd be lying if I said I didn't miss that lower payment some months.

derek bomar;1284605 wrote:since when has the gov't worried about being fair?

Also, while it isn't "fair" to those who've paid off their loans - what's the difference between forgiving that and the Fed buying up ****ty mortgage loans off of banks books? It'd just be a more efficient way to inject stimulus into the economy, and it would impact people personally and more broadly rather than large banks.

mucalum49;1284633 wrote:As for student loan forgiveness for everyone, I don't think that'd be right but I wish they brought back the payment extension program if you're over a certain amount. When I started paying mine off (11/2008) it was based on a 25-30 year pay back plan, can't remember exactly. The idea was to pay less when you start out and obviously you can increase your payment as your income goes up. My loans at that time were like $250/mo. When I went back to school full time they deferred my loans. When I got out in August 2010 that program had been disbanded causing my payments to triple. So I paid less the first 18 months and have to make up the remainder in the 8.5 years after.

like_that;1284632 wrote:Thanks for the reps, but if anyone deserves the reps it is my parents. Especially my father and his planning from the day i was born. If I ever have any children, I plan to do the same or at least try.

Crimson streak;1284636 wrote:And mount union isn't cheap. Trust me I know lol. Luckily since I played football I got that mysterious "mount union grant" that paid about half of my tuition

fan_from_texas;1284642 wrote:Or, if we insist on getting rid of student loan balances, we should make anyone who has a smart phone ineligible for the program.

fan_from_texas;1284643 wrote:Whoa, income-based repayment or 30-year consolidation doesn't exist anymore? That's pretty brutal.

like_that;1284632 wrote:Thanks for the reps, but if anyone deserves the reps it is my parents. Especially my father and his planning from the day i was born. If I ever have any children, I plan to do the same or at least try.

mucalum49;1284646 wrote:I too had that mysterious grant that my test scores didn't qualify me for. But it doesn't go as far with the baseball team as it did with you guys haha.

Crimson streak;1284629 wrote:Had about 30k and I got it down to 18 now. The worse part is I didn't even finish. Luckily I have a job making 60,000 a year with out a degree. I work my ass off but I'm hoping to be able to finish my degree soon.

BR1986FB;1284660 wrote:Girlfriend's son is the same. Guidance counselor told him he had plenty of credits to graduate but he was actually 12 credit hours short. After he ordered his cap & gown they sprung the news on him. Has about the same amount of debt with no degree.

He's been out of school for about 3 years now. He wanted to finish up online but the school (Muskingum) wouldn't let him which kinda pisses me off considering the money that was paid/is being paid. Still looking at options to transfer the credits (Youngstown St, Akron/Kent?) to finish up his teaching degree but he's had no luck, so far.

If he doesn't get back soon I fear he never will. If anyone has any suggestions on this, let me know.

gut;1284606 wrote:Doesn't matter whether it's $2k or $20k. Point is you pay-off your most expensive debt first, but at 2.25% there's absolutely no reason to pay it off. Like I said, 6.8% is a different story. That's a rate where I'm much more indifferent, being a decent enough return (when it's guaranteed) on my money, and there's a lot of debt that is cheaper than that.

Crimson streak;1284668 wrote:I definitely sucks. If I was him go back to muskingum for that semester and finish up. It will help him in the long run getting that degree and it would be worth that 3-4 months

fan_from_texas;1284652 wrote:We're doing that with our kids. It's roughly $500/mo. per child after-tax for 18 years to be pretty comfortable with covering their college expenses. Expensive.