Possible Solution for Student Loans? (dollars, school, money, government)

[Del Boy]

Originally Posted by shooting4life

Don't like, my tax dollars should not be used to pay back student loans.

If the banks want to set up a work program (as known as employment) they can feel free.

At some point, you're going to have the spend the money anyway.

But this way might end up being more cost effective.

The more indebted a student is, depending on his or her qualifications, the more years of service he or she owes.

For instance, certain disciplines would get a higher rate of repayment on their loans per year due to the qualifications they have.

[natalie469]

Originally Posted by freightshaker

Here is a novel idea.. Don't borrow money you can't pay back.

So those pursuing medical careers should just not go because they may not be able to pay back the hundreds of thousands of dollars in student loans.

[greywar]

Originally Posted by Del Boy

Fortunately, nothing.

There is always this assumption from folks that the OP of topics is always representing his own selfish interests. As such, actually posting on a topic that affects you in a positive way will be used to attack you.

This is why I get accused of:
Being young
Being poor
Being unemployed
Working at minimum wage
Having no kids
Not having had any high school economics-and probably dropped out

Reality-im middle aged, 6 figure income in a extremely technical field. I have more then the average number of kids, and took college economics which was fun as heck.

But so what if the OP HAD owed? Here he is suggesting he should work it off! And thats bad why exactly?

[shooting4life]

Originally Posted by Del Boy

At some point, you're going to have the spend the money anyway.

But this way might end up being more cost effective.

The more indebted a student is, depending on his qualifications, the more years of service he or she owes.

How about make student loans dependent on the ability of the major to pay back said loan. That is how the banks lend on everything else, ability to pay back.

[greywar]

Actually I seem to recall there ARE some programs like this, im thinking something to do with Dr's in remote areas...... that ring a bell for anyone else?

[Del Boy]

Originally Posted by shooting4life

How about make student loans dependent on the ability of the major to pay back said loan. That is how the banks lend on everything else, ability to pay back.

Well, that's a great idea for the future. I mean, if we started that today, but for those that are currently indebted, I think these Volunteer Camps could be just what America needs.

[daylux]

Government needs to get out of it altogether. When they became involved, the price per credit hour skyrocketed.

As for a solution, definitely a bail out.

[shooting4life]

Originally Posted by greywar

Actually I seem to recall there ARE some programs like this, im thinking something to do with Dr's in remote areas...... that ring a bell for anyone else?

I've heard about grants from some medical programs for certain medical fields in undesirable areas. But this isn't being done by the Feds, it is being done by the schools.

[tablemtn]

I think having student debtors "volunteer" would just undercut wages for workers who didn't go to college. They'd be shoved aside by a big new class of laborers.

I'd just put student loans back under normal bankruptcy laws. If a particular school churns out lots of grads who go bankrupt, perhaps that should be investigated, and future federal-backed loans denied to such institutions. I'd love to actually "claw back" the personal finances of current and former university administers who got rich off the student loan scam, along with their school endowments, but there's no real way to do that under current law.

[shooting4life]

Originally Posted by Del Boy

Well, that's a great idea for the future. I mean, if we started that today, but for those that are currently indebted, I think these Volunteer Camps could be just what America needs.

I don't. It will end up being a bloated government program where more money is spent to administer it than is gained by the unneeded work being accomplished by debters.