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This sort of attitude is pretty common. People live it up in school without thinking about what its going to be like to pay the money off each month. Then after school reality hits.... they either don't pay (big big mistake!) or start complaining and hoping someone else will pay (tax payers).
To make matters worse everyone seems to consolidate their loans and stretch the payments over a ridiculous 20~30 years (This strategy can make sense if the rate is low due to the tax deduction)
They really need to stop giving away money for school in such a free matter. They should tie the amount given to things like GPA, degree program etc.
I have been working with abused and disabled children for five years now- and while it's very rewarding work, .... I'm in my 40's and at this rate, I'll be paying them well into my 60's
Thanks!
They really need to stop giving away money for school in such a free matter. They should tie the amount given to things like GPA, degree program etc.
Didn't I read somewhere that they are making it harder as part of the current credit crunch?
I have to agree with most of the posters. The prevaling thought process seems to be to borrow, borrow borrow and worry about it later. It's causing people to walk away from their mortgage obligations. But of course you can't give an education back.
To the OP - you got an education that led to a rewarding career. Why should anybody/everybody else pay for it now? It is wonderful that you are doing something to help others, but you have a debt that needs to be repaid. Find a job that will pay more, find a job that will help reimburse your education, or find an extra job to pay off those loans as quickly as possible.
A doctor friend of mine still owes $100k in student loans. She saves lives EVERY DAY, but she also is paying off her loan, and on a miserable ER residents salary no less.
Location: We_tside PNW (Columbia Gorge) / CO / SA TX / Thailand
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I don't think the OP is a 'slacker'... plenty of programs exist, but they are pretty specific as to which loans will pay off, and whether your wages are part of the formula. I've known folks to do the Peace Corps for that, my Doc did the 'Indian Reservation' indenture. Military service is another avenue, and I would check with the VA, as they are needing help and have been known to take a % of your debt. All those I've contacted who have done this have said the education of the experience in being "indentured" to serve the needy has been an enhancement to their education that is tough to equal. My Doc has a very interesting perspective coming from that experience, and I appreciate his humility.
""AmeriCorps. Serve for 12 months and receive up to $7400 in stipends plus $4725 to be used towards your loan. Call 1-800-942-2677.
Peace Corps. Volunteers may apply for deferment of Stafford, Perkins and Consolidation loans and partial cancellation of Perkins Loans (15% for each year of service, up to 70% in total). Volunteers make a real difference in the lives of real people with two years of service in more than 70 developing countries. Contact the Peace Corps at 1111 20th St., NW, Washington, DC 20526 or call 1-800-424-8580 or 1-202-692-1845.
Volunteers in Service to America (VISTA). Volunteer with private, non-profit groups that help eradicate hunger, homelessness, poverty and illiteracy. Provide 1700 hours of service and receive $4725. Call 1-800-942-2677 or 1-202-606-5000.""
I still had to pay back my student loan, even though the school I was attending closed it's doors and I had to pay out of pocket for another school. They did work with me to give me really low payments though. Remember, it's the govt. you'll never get forgiveness of debt, unless you die.
Well, for one, you can cut out the internet access that you're using to type these posts.....that's one way of saving you money to dedicate to your loans..
Wow, you're assuming she's paying for internet access? She could be at the public library. Or at work.
I started a thread about this several months ago. I posted a link to an article that provided several 'loan forgiveness' programs including ones that were for students in social services. You'll have to search the forum for it.
I honestly don't know any programs, but I pray you find one. Some of these people have some nerve making these assumptions about you. This is 2008 and it is very difficult to survive in this society without a degree. You don't need to apoligize to anyone for your decisions. Yes you are struggling a bit right nowwith the loans, but you are probably a lot better off in the long run with the degree.
Student "loan forgiveness" does not exist - not in the terms most wish it would.
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