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.
The loans will be forgiven after 10 years (no matter the balance) if you go into public service and after 20(no matter the balance) if you going into the to public sector..
Who pays for the BALANCE?? Yes,the tax payer.
Actually, if you go into public service, let's say military or a policemen or fireman (many other types of occupations - too many to list) your balance would be forgiven and no tax due. But any other student loan, they would have to pay taxes on any remaining balance. The problem with that is if interest is compounded you are likely looking at a hefty bill to the IRS after 20 years. And remember every worker is a
TAX PAYER, and that includes students who become employed after they graduate
I would favor a different approach --- a consolidated government loan at 1% or 2% interest would help students get out of crushing debt, especially for private loans, and also free up money that can be used for consumption (helps the economy immediately) or savings (helps the economy in the long run).
I'm fighting back laughter, but what exactly do librarians learn that requires a degree LOL. Please be specific.
tell me what it is that MBA's do that requires a degree. Betcha there are more MBA's and JD's out there defaulting on their student loans than librarians.
If you want to get the true picture of the student loan industry and why
it is a crossroads today, study the history of Sallie Mae - the true bandit
of tax payer dollars.
Actually, if you go into public service, let's say military or a policemen or fireman (many other types of occupations - too many to list) your balance would be forgiven and no tax due. But any other student loan, they would have to pay taxes on any remaining balance. The problem with that is if interest is compounded you are likely looking at a hefty bill to the IRS after 20 years. And remember every worker is a
TAX PAYER, and that includes students who become employed after they graduate
So it's ok with you, a benefitting student or not, to have an increased burden for paying for others? Equality of Condition here we come.
I agree with low interest government education loans if anything is to be done. . Not forgiving after a ceratin time period. but you the government really doesn't need to be IN EVERY PART OF THE PRIVATE SECTOR. Protect the country and maintain infrastructure. End of story.
My god, they just can't help themselves, putting their fingers in every cake
Last edited by EasilyAmused; 02-01-2010 at 12:08 PM..
It's actually quite a bit more complicated than you would first think, and a common misconception that librarians' educational requirements are too high.
It's a common, albeit false, assumption that library sciences do not need the educational background that the field requires.
I'll be the first to admit that I don't know what the undergraduate requirements for your field are, but like so many other degrees, we are all forced to take classes that having nothing to do with our major of choice. In my graduate program, all of the classes and practical experiences were targeted directly to my field, but my undergraduate studies required a ton of classes that were 100% unnecessary for my field. Our educational system should be more vocationally focused, instead of having a broad base of knowledge. We need well a trained/well educated workforce, not a workforce that has a little bit of knowledge in a lot of different subjects. JMO and probably pretty off topic for this thread.
there is no degree requirement to get an MLS or MILS ... I went to school with lawyers, engineers, historians ...
and I'm not surprised that someone would laugh off our profession ... I'm used to it, but it's so sad that people are so willfully ignorant and dismissive.
Libraries and librarians were the first profession to embrace the coming technology that was in it's infancy in the last 80's. When I worked for 2 major law firms in the 1990's .... when the office went paperless, I found it rather amusing that Yale and Harvard lawyers came to me for advice on where to find information for their clients ... I even had to get on client calls to explain to clients how to find their information. I also found it equally amusing when the IT department was doing the same thing, asking a non IT person how to find something on a computer. At my first job, I was the first MLS hired by the firm's library and guess who ended up having to train the staff on electronic resources ... me, the one who took the time and money to familiarize myself with the resources available.
But getting back on point ... I'd love to see how many librarians will be taking the gov-mint up on this offer ... betcha there are a lot more lawyers and bankers doing it.
I would favor a different approach --- a consolidated government loan at 1% or 2% interest would help students get out of crushing debt, especially for private loans, and also free up money that can be used for consumption (helps the economy immediately) or savings (helps the economy in the long run).
That would be nice. I remember in ('80's,90's) interest rates at 18 percent for post graduate loans and Guaranteed Student Loans at 9 percent. Folks forget there was a time when interest rates were high - and these loans were 25-30 year duration. It compounds quickly during unsubsidized deferments and/or forbearance.
I'm not surprised that someone would laugh off our profession ... I'm used to it, but it's so sad that people are so willfully ignorant and dismissive.
Libraries and librarians were the first profession to embrace the coming technology that was in it's infancy in the last 80's. I was the first MLS hired by the firm's library and guess who ended up having to train the staff on electronic resources ... me, the one who took the time and money to familiarize myself with the resources available.
If it wasn't for Librarians who coordinated most info - no one would be able to surf the web like they do today.
I salute Librarians everywhere Not to mention, I think they are underpaid
So it's ok with you, a benefitting student or not, to have an increased burden for paying for others? Equality of Condition here we come.
I agree with low interest government education loans if anything is to be done. . Not forgiving after a ceratin time period. but you the government really doesn't need to be IN EVERY PART OF THE PRIVATE SECTOR. Protect the country and maintain infrastructure. End of story.
My god, they just can't help themselves, putting their fingers in every cake
I hear you. I'm a libertarian. In MY perfect world I would not even be paying the IRS I just want student loans to be fair As for protecting our country - I'm all for that - just not wars of choice or nation building and expecting me to pay for it.
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.
And remember every worker is a 
