Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
It can still be done with support. That's the key thing here. It's great that springfieldva and her family were able to do it, but it's very unrealistic and judgmental to think that everyone can, or should be able to.
I took out a small student loan to try to finish my college degree and became disabled. I also had to quit to take care of my elderly mother who got sick and died soon after. Should I have turned my back on her and told her to suffer while I got on with my life? Should I tell my body, hey you can't get disabled now while I'm trying to finish college and get a better job?!
In my late teens I took out a student loan which I paid of at the rate of $31/mo for 7 years. That amount in today's money is $219/mo. Not chump change. I've done it before. But I'm a jerk and a grifter because I'm going for the loan forgiveness as a single, elderly, disabled person on Social Security? Every situation is different. By the way, I paid for 12 years on my most recent loan and received a letter from the government that I had paid a percentage of the loan and was eligible for forgiveness as a disabled senior. I did not bite. I kept paying.
Every situation is different.
Student loans were EXTREMELY predatory when I took out a loan, but someone talked me into it (a counselor at a "women starting over" program). Student loans were extremely predatory at the same time that Fannie Mae and Freddie Mac were wielding their evil. A lot of people fell for it. A lot of people needed it.
I refuse to judge people for taking out loans to try and better their lives.
So I'm judgmental for not wanting to pay back other people's student loans that I did not take out, never agreed to and get no benefit from? Really?
Well, exactly how does your complaining about it change anything? They're going to do it no matter what. I would say that even if I weren't benefiting from it.
Perhaps I'm wrong, but your post does sound pretty judgmental. It's as if you assume that everybody can and should do what your family did, and that's just not the case. And if they can't, then they're somehow to blame because they need assistance.
Let me tell you the ways I've been screwed over by big corporations (predatory loans) and the government (childless seniors get no help from the government but oh, pop out a bunch of kids and get all kinds of help).
On second thought, that's private. But rest assured it's happened and I'm not sitting nearly as well as you are, so be grateful for your good fortune. A lot of life Is how we react to it, a lot of life is hard work and a lot of life is luck of the draw. I worked my ass off my entire life since age 17. I paid into the system my entire life and I don't feel one single damn bit guilty.
My parents got a divorce when I turned of age and they informed me that I was now on my own in life. I had a student loan and I paid it entirely off when I was a young adult.
Thanks, I've passed that along to my kids. They don't need government help, and in principle I'm against giving taxpayer money to people who don't need it, but they may as well get their fair share.
We'll see what happens, and if the Free Money is actually legal.
Well, exactly how does your complaining about it change anything? They're going to do it no matter what. I would say that even if I weren't benefiting from it.
Perhaps I'm wrong, but your post does sound pretty judgmental. It's as if you assume that everybody can and should do what your family did, and that's just not the case. And if they can't, then they're somehow to blame because they need assistance.
Let me tell you the ways I've been screwed over by big corporations (predatory loans) and the government (childless seniors get no help from the government but oh, pop out a bunch of kids and get all kinds of help).
On second thought, that's private. But rest assured it's happened and I'm not sitting nearly as well as you are, so be grateful for your good fortune. A lot of life Is how we react to it, a lot of life is hard work and a lot of life is luck of the draw. I worked my ass off my entire life since age 17. I paid into the system my entire life and I don't feel one single damn bit guilty.
My parents got a divorce when I turned of age and they informed me that I was now on my own in life. I had a student loan and I paid it entirely off when I was a young adult.
I'm sorry that you've had a difficult life but if you took out a student loan as a young adult and paid it off in full, how is it that you are now a senior citizen who still has a student loan?
Did you take another student loan out in middle age? If so, are you saying that you did not understand the terms of your loan?
I'm sorry that you've had a difficult life but if you took out a student loan as a young adult and paid it off in full, how is it that you are now a senior citizen who still has a student loan?
Did you take another student loan out in middle age? If so, are you saying that you did not understand the terms of your loan?
Yes. I took out a student loan after participating in a "women starting over" program in my 50's. I was talked into it by a counselor. It was a gamble that I lost. That's the breaks. Disability and caring for a terminally ill parent tanked the whole deal. I still owe. I paid for 12 years. I am eligible for forgiveness. I was eligible before this current loan forgiveness deal. The difference is, I will be able to work. Under the former deal, I would not have been allowed to work. I still have to work to make ends meet. Or make do. I'm tired of "making do."
Yes. I took out a student loan after participating in a "women starting over" program in my 50's. I was talked into it by a counselor. It was a gamble that I lost. That's the breaks. Disability and caring for a terminally ill parent tanked the whole deal. I still owe. I paid for 12 years. I am eligible for forgiveness. I was eligible before this current loan forgiveness deal. The difference is, I will be able to work. Under the former deal, I would not have been allowed to work. I still have to work to make ends meet. Or make do. I'm tired of "making do."
Thank you for being gracious. I appreciate it.
I'm 56 and I've gone back to college to complete my degree. I'm working PT to pay for my education as I go. No way would I take out a student loan at my age. I'm 6 years away from qualifying for social security retirement benefits and 9 years away from qualifying for Medicare. We've got elderly parents, too, I get that things come up.
There are parents who cosigned for student loans for their kids who will be also getting their loans forgiven. That's sort of amazing to me. And wrong. Why should the rest of us who helped to pay for our own kids' college educations be on the hook for "forgiving" other parents from doing the same?
Now that part I agree with. Back when I was 19 my dad grudgingly co-signed a student loan for me because I guess that was the requirement back then. I can't remember. But I paid the whole thing off with no help from him. I dropped out of college because my boyfriend died in a car accident and I had a meltdown that lasted a long time. I started working full time and it went from there. Never finished that degree.
If I had been able to work PT while going to school in my 50's I would have, but it would have taken 10 years to complete the degree. Then I would have been retirement age. In a lot of cases it's a Catch-22. I consider taking out that loan one of the worst decisions of my life. But like I said, it was a gamble. I should have gone for a 1 yr or a 2 yr community college degree in a vocation (like drug and alcohol counseling, as I mentioned either in this thread or another thread). I just didn't think I was qualified to do such because I didn't know anything about the subject and didn't feel confident that I would be competent. Another thing is that type of job has a burnout rate and I was concerned about that.
In my opinion 4 yr college degrees are becoming obsolete. They have been for a while.
What they should have done was waive the accumulated interest and debt collection fees and then made settlement offers for lump sum payouts to everyone. It wouldn't cost them a dime and they wouldn't have administration and collection costs following these loans for the next 10 to 20 years. It would help more people and direct the help to the people with the largest loans, the oldest debts and people who got shafted though a corrupted system for a decade or two. This was a publicity stunt that was not well thought out and slapped together without a plan. Plus the DOE is not cooperating. The whitehouse prepared a simple form. The DOE is requiring documentation before processing them. That was part of what caused the crisis in the first place - too much red tape and servicers who did not do what they were supposed to do.
What they should have done was waive the accumulated interest and debt collection fees and then made settlement offers for lump sum payouts to everyone. It wouldn't cost them a dime and they wouldn't have administration and collection costs following these loans for the next 10 to 20 years. It would help more people and direct the help to the people with the largest loans, the oldest debts and people who got shafted though a corrupted system for a decade or two. This was a publicity stunt that was not well thought out and slapped together without a plan. Plus the DOE is not cooperating. The whitehouse prepared a simple form. The DOE is requiring documentation before processing them. That was part of what caused the crisis in the first place - too much red tape and servicers who did not do what they were supposed to do.
Given the rampant abuse of the Covid "relief" money, I would darn well hope that at the very minimum the government would be asking for documentation. Good grief that is the bare minimum the government should be doing.
WASHINGTON, Oct 21 (Reuters) - A U.S. appeals court on Friday temporarily blocked President Joe Biden's plan to cancel billions of dollars in college student loans, one day after a judge dismissed a Republican-led lawsuit by six states challenging the debt-forgiveness program.
The 8th U.S. Circuit Court of Appeals granted the states' emergency petition to freeze the loan forgiveness plan until the court rules on their request for a longer-term injunction while Thursday's decision against the states is being appealed.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
