The RCC Voting Booth

[binaryterror]

Ok. So, what I get from that is that the federal government is not going to expunge your student loan.....is this something that you were expecting to happen?

Lots of people are hoping it would.

All it should do is allow more options for financing. 90% of the problem with student loans (yes I have then and will be paying them for many years) is the people who take them. They aren't given enough knowledge in how they work, and worse off they allow giving loans to people in majors that simply will not be making funds to pay off large student loans. You want that degree in the arts, good luck finding a large selection of quality paying jobs out of college.

 

[JeremyH]

No No, The fixed 10% from Obama we currently have. Romney wants to get rid of that, so potentially student loan monthly dues could be higher then your income.

We've had that type of setup for quite some time now. Obama lowered it by 5%. Are you sure that he wants it GONE and not simply raised back to the 15% (and 25 year forgiveness) that it has been for a long time?

 

[JeremyH]

Lots of people are hoping it would.

Oh, I bet they are. :roll:

All it should do is allow more options for financing. 90% of the problem with student loans (yes I have then and will be paying them for many years) is the people who take them. They aren't given enough knowledge in how they work, and worse off they allow giving loans to people in majors that simply will not be making funds to pay off large student loans. You want that degree in the arts, good luck finding a large selection of quality paying jobs out of college.

It's been a while since I've signed up for and/or paid off my student loans, but I remember having plenty of options for financing. Yes, I completely agree that there are a LOT of folks out there who dont understand......and they should take it upon themselves to gain knowledge about the subject.

When I was in school, I took the MINIMUM amount that I needed (to pay for tuition and books)....and worked my ass off to pay for a place to live and crappy food to eat (I sure dont miss mustard sandwiches). My roommate took the maximum amount every semester. I finished school with 2 degrees and only about $10K in loans....which have been gone for quite some time now. My old roommate is still paying on his.

 

[TURTLE]

We've had that type of setup for quite some time now. Obama lowered it by 5%. Are you sure that he wants it GONE and not simply raised back to the 15% (and 25 year forgiveness) that it has been for a long time?

From what I understand that program (15% & 25 years) started during the bush(Jr.) administration in 2007. Obama dropped it to 10% and 20 years.

I have seen it multiple times that Romney plans to get rid of this program and open up more to the private sector.

That second article I linked covers it pretty well. If that doesn't do it for you there are tons more out there.

 

[JeremyH]

From what I understand that program (15% & 25 years) started during the bush(Jr.) administration in 2007. Obama dropped it to 10% and 20 years.

I have seen it multiple times that Romney plans to get rid of this program and open up more to the private sector.

That second article I linked covers it pretty well. If that doesn't do it for you there are tons more out there.

To tell you the truth, I cant really remember what the terms of my student loans were. A private company held the loan. I had a 6 month grace period after I graduated to start paying and the interest rates were somewhere around 6-7% or so. Having the loan expunged was not an option, in my mind.

 

[TURTLE]

I finished school with 2 degrees and only about $10K in loans....which have been gone for quite some time now. My old roommate is still paying on his.

10K!? Damn it costs me a hell of a lot more then that every year and I don't even go to a good school. My brother just graduated from a school that was 40K a year and is now going to Brown... So should people just not strive to go to good schools unless they are becoming a doctor or engineer?

Or as Romney puts it, "borrow money from your parents". :roll:

 

[JeremyH]

10K!? Damn it costs me a hell of a lot more then that every year and I don't even go to a good school. My brother just graduated from a school that was 40K a year and is now going to Brown... So should people just not strive to go to good schools unless they are becoming a doctor or engineer?

Yes, I worked hard to pay down the debt during the summer.

40K per year? That cant be tuition and books alone....

I dont know about what people should strive for. I picked a school that I though was reasonable and went there. Now, nobody gives a shit where my diplomas are from.

BTW, I found a way for you to not repay your loan:
IBRinfo :: What are these programs?
A public service job."thumbsup"

 

[TURTLE]

Yes, I worked hard to pay down the debt during the summer.

40K per year? That cant be tuition and books alone....

I dont know about what people should strive for. I picked a school that I though was reasonable and went there. Now, nobody gives a shit where my diplomas are from.

BTW, I found a way for you to not repay your loan:
IBRinfo :: What are these programs?
A public service job."thumbsup"

Any yes that was tuition alone. Hell I applied for a school years ago that cost 100K for a 2 year program and that didn't include anything but tuition.

I have no problem paying my loans, it is the fact that loan payments could potentially make it so I am living out of my car because I couldn't afford the payments and a place to live.

I worked my ass off for a long time too, I didn't even start taking loans out till my daughter was born in 2009. Before that I worked full time and paided tuition in full every semester. When she was born though, I had no choice but to take loans, I couldn't afford a family like I could the single life.


Another article breaking down both candidates, this one from Foxbusiness.com

http://www.foxbusiness.com/personal-finance/2012/10/19/who-gets-in-student-aid-obama-vs-romney/

 

[JeremyH]

Any yes that was tuition alone. Hell I applied for a school years ago that cost 100K for a 2 year program and that didn't include anything but tuition.

That is crazy. Both public schools, I assume?

You wouldn't catch me on either of those campuses....

 

[TURTLE]

That is crazy. Both public schools, I assume?

You wouldn't catch me on either of those campuses....

The 40k was public, the 100k was private, but also the best school of its kind in the country.

 

[JeremyH]

The 40k was public, the 100k was private, but also the best school of its kind in the country.

Nothing can be done about the cost of a private college.....especially if you are an out of state resident. They set their price, you can choose to buy their product or not.

Now, the public college, on the other hand.....that rests in the lap of our government. The same government that has been raising tuition rates over the last several years.

 

[TURTLE]

Nothing can be done about the cost of a private college.....especially if you are an out of state resident. They set their price, you can choose to buy their product or not.

Now, the public college, on the other hand.....that rests in the lap of our government. The same government that has been raising tuition rates over the last several years.

Yeah even so, you pay for the name. Brown University, where my brother is going for his masters is somewhere around 75k for the program. I only know this because they gave him a 100k scholarship (he is really smart) and he only sees 1k a month for the 2 year program.

 

[JeremyH]

Yeah even so, you pay for the name.

Yep."thumbsup"

Unfortunately, for him, nobody will even think twice about that name when he gets his first job.

 

[TURTLE]

Yep."thumbsup"

Unfortunately, for him, nobody will even think twice about that name when he gets his first job.

For him they might, he wants to be an english professor at an ivy league University.

 

[JeremyH]

For him they might, he wants to be an english professor at an ivy league University.

There you go. Maybe I should amend my statement.....The only people that will give a shit about the name on his diploma are other schools. :ror:

Seriously though, I have had a number of jobs (including a research job at another school) and not one of them asked about where I went to school. The research job did, however, hand me a piece of chalk and asked me to derive Schrodinger's equation on his blackboard. :lol:

 

[dezfan]

The student loan market will be the next mortgage loan crisis. The government's interference and artificial manipulation of the market is the cause of the massive increase in higher education.

Again, good intentions have had unanticipated consequences. Just as it did in the mortgage loan market.

 

[RANOVRU]

For anyone who acknowledges the actual corruptness in govt and politics, at some point you have to realistically ask yourself why voting matters. Add to that the EC and its fundamental role during election and the idea of casting a "popular vote" sounds pretty lame.

People are ignorant to things like checks & balances. The focus is always on one man who really cant do much without approval. Or at least, thats the way it was intended to be.

I have not voted since Ive been eligable. Its not something I brag about I just have never taken any of it seriously, at least what we are presented with. As Ive become older, and with major increase in technology and media, it just seems more absurd every 4yrs. I like the idea of our country I just wish there was some mass election every four years that put the house, senate and congress on the spotlight as much as the presidential.


I dont know what the answer is but I do not think the current manner in which we keep our govt in check is working.

 

[Duuuuuuuude]

Again, good intentions have had unanticipated consequences. Just as it did in the mortgage loan market.

Very true, but it was the private sector that worked the loopholes to cause the crash...the very same private sector that Romney wants to turn these programs over to.

 

[Grizzly4x4]

Yes, I worked hard to pay down the debt during the summer.

40K per year? That cant be tuition and books alone....

I dont know about what people should strive for. I picked a school that I though was reasonable and went there. Now, nobody gives a shit where my diplomas are from.

BTW, I found a way for you to not repay your loan:
IBRinfo :: What are these programs?
A public service job."thumbsup"

Tuition for University of Wyoming is going to cost $80k for 4 years for my daughter. Four year degrees don't get a whole lot cheaper than that anymore.

 

[dezfan]

Very true, but it was the private sector that worked the loopholes to cause the crash...the very same private sector that Romney wants to turn these programs over to.

I disagree, the private sector is mearly reacting to Government imposed rules, regulations, and unrealistic guidelines.

Look back at the housing debacle. It started with CRA back in the 70s and got worse as more and more well intentioned Government interference was imposed.