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We’ve assisted banks, homebuyers, current homeowners, and even bribed people out of their cars with cash for clunkers. I find myself wondering if current student loan holders in repayment will ever be offered some assistance?
It sure would be nice if I could consolidate my loans at a better rate than weighted average of the interest rates. I have no problem making my current payments, but I would like to save a few bucks and the interest deduction makes me meh. I also have no desire to work for the government or particpate in the ICB repayment program.
We’ve assisted banks, homebuyers, current homeowners, and even bribed people out of their cars with cash for clunkers. I find myself wondering if current student loan holders in repayment will ever be offered some assistance?
It sure would be nice if I could consolidate my loans at a better rate than weighted average of the interest rates. I have no problem making my current payments, but I would like to save a few bucks and the interest deduction makes me meh. I also have no desire to work for the government or particpate in the ICB repayment program.
People borrowed the money and got a subsidized interest rate. There should be no more "help".
I doubt it and you know why? Because people never learn. I find it funny that the people carrying the most college debt find no problems with buying a new car, a house or condo, and subscribing to expensive cable and cell phone plans, not to mention paying for most of it with credit cards. A lot of students seem determined to stay in debt. If i was a lawmaker I wouldn't pass laws to help them either, and and this is coming from someone who's carrying a larger than normal college loan debt tab. But I live simply, without any of the things I mentioned above, and you will be amazed at how many funny looks I get when I tell people I don't have a car or cable or a smartphone. It's like they think I'm not living because I don't have those things.
Who else will be working to actually "PAY" for these free loaders????
That money DO NOT GROW (free printing) from trees & have to come from some where....
Then do not forget... as more money is printed... it will eventually "DEVALUE"...
Ready for that $20 per hour minimum BUT bread will actually cost YOU $1000 yet (just like the german mark "learn" from history)???
What "help" are you looking for? You do know (as MB correctly pointed out) that all Federally administered student loans have been subsidized since day one.
What "help" are you looking for? You do know (as MB correctly pointed out) that all Federally administered student loans have been subsidized since day one.
Well-it's not only that the loans are subsidized. The easy money that has been handed out like candy has pushed college tuition rates through the roof. If there is some sort of relief program granted all it will do is allow the cost of college to soar for those who actually have to pay for it out of their own pocket.
Not any time soon given the current political climate and obstructionist in congress. As evidenced, a lot of people also have a boot strap mentality when it comes towards human investment where they blame the victims instead of a broken system.
College tuition has been outpacing inflation for a while now and is the reason why people are taking out a larger amount of loans to finance school. One would think that loans are the real reason, but there's very little evidence to support that loans are the reason.
07-23-2012, 09:49 AM
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Not likely, and I'm not sure it's a good idea either.
I get that massive student loan debt stops people from doing things like buying houses, having children, etc, but the "free" money train has to stop sometime and people have to take a little bit of responsibility.
"Helping" will simply make the problem worse down the line. We need to address the bigger problems in academia (enormous bloated administration that gives itself gigantic raises, enormous sums of money wasted on non-academic things like athletics and "cultural centers" and "green initiatives"), not pretend they don't exist.
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One would think that loans are the real reason, but there's very little evidence to support that loans are the reason.
They may not be the reason, but they certainly make it easier to waste money and raise costs. Students treat loans like monopoly money, leaving universities with little to no pressure to address waste. Sometimes students even get in on the waste, voting to spend tens or even hundreds of millions of dollars on things like remodeling student unions.
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