To Live The American Dream

[Grim Reader]

Originally Posted by BarcelonaFan

Amazing. Still though, I am sure these were economic reforms aimed at making the government more "market oriented". Just make sure Norway doesn't go totally neo-liberal. We are paying the price of that over here.

Uh? Its been that way for generations.
Tuition is free, you get a minor grant for living expenses as long as you keep passing most of your exams, but you really got to stretch the grant to live off it. So most people either take out a loan or get a job. The loan has a lot of protections built into it, and the education system lets you set your course load, so its easy to accommodate a job.

Actually, almost everyone takes the loan. Even if you don't spend it, it doesnt start running untill you've graduated and started earning more than 20 000 $/year. People who get a job or something just leave it in a high-interest account, then pay it off before it starts running, keeping the interest.

[BarcelonaFan]

Originally Posted by Grim Reader

Uh? Its been that way for generations.
Tuition is free, you get a minor grant for living expenses as long as you keep passing most of your exams, but you really got to stretch the grant to live off it. So most people either take out a loan or get a job. The loan has a lot of protections built into it, and the education system lets you set your course load, so its easy to accommodate a job.

Actually, almost everyone takes the loan. Even if you don't spend it, it doesnt start running untill you've graduated and started earning more than 20 000 $/year. People who get a job or something just leave it in a high-interest account, then pay it off before it starts running, keeping the interest.

Wow. That's amazing. Our federal loans operate on somewhat the same level but for the most part keep people indebted. You have to wait to consolidate your loans into one lump sum, then stretch to a thirty year payment plan. That way you're paying a low amount. President Obama just recently paid off his student loans for law school.

But some people stupidly take out private banking loans with hustler banks that charge high interests and want their money the day right after the six month grace period they give you. After that they bombard you with phone calls, emails and mail to get you pay back a high as hell monthly payment, knowing how hard it is for any college grad to find a good job. They threaten to send your stuff to collections if you cannot pay, ruin your credit and ruin your chances of getting a loan for school in the future.