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Totally agree. And student loan interest rates are not bad considering they are totally unsecured. , I'm doing a 500K loan that is completely 100% secured by real estate and the rate is 5.607%.
that's now, what about the $T before Barry de-privatized the Repug's privatization of student loans?
Totally agree. And student loan interest rates are not bad considering they are totally unsecured. , I'm doing a 500K loan that is completely 100% secured by real estate and the rate is 5.607%.
Just sell stock in yourself.
http://www.theverge.com/2013/2/26/40...ck-in-yourself
Saw the guy who came up with this idea interviewed on Squawk Box a couple weeks ago.
Agreed. I think a seven year grace period interest free is a pretty good deal as is.
That would also be a pretty cool deal if they had it.
I'm not sure how some people here can claim that student loan debt isn't a problem..
Crushing student debt is not only killing dreams, it's hurting the broader economy.
http://www.cnbc.com/id/100723709The Consumer Financial Protection Bureau (CFPB) is warning of the "potential domino effects" to the economy of high student debt. A just-released report from the consumer watchdog highlights the ways this debt can deplete savings, limit spending, and shape choices about a graduate's career path and where to live.
"College can open up many opportunities, and we do not want that college degree to become more of a burden than a blessing for those saddled with unmanageable debt in a tough employment market," said CFPB director Richard Cordray in a statement. "So we are concerned that unmanageable student loan debt may be harmful to recovering consumer markets and may be dragging down borrowers' lives."
The average amount of student loan debt for the Class of 2011 was $26,600, a 5 percent increase from approximately $25,350 in 2010, according to The Project on Student Debt.
If liberals really want to stick to their guns on the whole taking from the rich to help the poor, then why not make rich people including hardcore liberals foot the bill on this ? Let them pay for the student loan debt in America. Let's see if they are really true to the cause.
Do they not?
No interest accrues on the largest portion of it starting the moment that you take it out. The rest of it begins when you finish school
College is a joke and scam in America. The same could be said for American society and culture. Sometimes, I'd honestly rather go live in a less populated but developed peaceful country than live in America.
You gonna pay for my plane ticket? A true tolerant and open minded liberal would foot the bill for an adventure out of America of my choosing.
Take the Greyhound down to Key West and then make a raft to get down to Habana. You won't get a good job there either, but at least you might lose your virginity since Cuban es are horny as .
Why is Jacob lashing out at snc and accusing him of being a liberal?
"If liberals really want .... taking from the rich to help the poor"
typical right winger, you have that backwards.
the 1% games the system, including moving business, profit-driven business managers into non-profit universities and running outright scams like for-profit like Kaplan, Phoenix, set up for=profit K-12 charters, to extract wealth from, impoverish the 99%.
For the record, I believe both Republicans and Democrats steal from the poor to give to the rich. They're equally responsible. I was only calling out liberals because they are supposed to be tolerant, open minded, and about equality. They are also supposed to support Robin Hood and taking money from rich people to help poor people. If you claim to be a liberal but don't support Robin Hood, then you're a hypocrite.
The 1% will game the system, independent of politics. It's not left vs right, it's 1% vs 99%
Maybe so but can't you agree that both Republicans and Democrats have destroyed America?
The VRWC/Repugs have actively ed up America, while the Dems have passively allowed it to happen.
Bank regulation and Obamacare are progressive moves by the Dems for the 99%, but the Repugs are insistently gutting or killing both. Same with immigration reform. And probably the same with tax reform.
I simply don't buy that the Repugs and Dems EQUALLY share responsibility. You right wingers defend the Repugs by saying the Dems are just as bad (some defense!), but it simply ain't true.
Last edited by boutons_deux; 05-23-2013 at 02:29 PM.
House Passes Student Loan Bill, Setting Up Showdown
The House on Thursday passed legislation to head off a doubling of student loan interest rates on July 1, instead tying rates to prevailing market trends and ending federal subsidies.
The bill, which passed 221 to 198, kicks off what is sure to be the next fierce showdown between House Republicans, Senate Democrats and President Obama, with a hard deadline looming in little more than a month. Republicans said they had a long-term plan that would get the government out of the business of setting interest rates.
“What the House is doing today is a responsible way to deal honestly with the issue of student loans,” said House Speaker John A. Boehner of Ohio. “Can somebody politicize this on the other side of the aisle? Certainly they can.”
Democrats said House leaders were intent on raising the cost of already onerous student debt.
“It’s really stunning,” said Representative Nancy Pelosi of California, the House minority leader.
At stake is a subsidized loan rate of 3.4 percent for more than 7.4 million students with Federal Direct Stafford Loans. That rate would jump to 6.8 percent if Congress fails to act; Democrats set the lower rate before Republicans swept to control of the House in 2011. Last June, Republicans buckled under political pressure and extended the subsidized rate for one year, just two days before its expiration.
This time, Republican leaders insist they will hold firm, but they face Senate Democrats who are dead set against their approach as well as a threatened White House veto.
“Who’s going to set interest rates, politicians here or the markets?” asked Representative John Kline, Republican of Minnesota, chairman of the House Committee on Education and the Workforce.
The House bill would allow student lending rates to reset each year, based on the interest rate of a 10-year Treasury note, plus 2.5 percentage points for Stafford loans. The Congressional Budget Office projected rates on Stafford loans would rise to 5 percent in 2014 and 7.7 percent in 2023. Under the legislation, Stafford loans would be capped at 8.5 percent, while loans for parents and graduate students would have a 10.5 percent cap.
Senate Democrats want to extend the current, subsidized rate for at least two years. The cost to the federal government, several billion dollars, would be covered by closing tax loopholes, said Senator Kirsten Gillibrand, Democrat of New York and one of the Senate bills’ primary sponsors. Ms. Gillibrand would go further, allowing graduates with higher interest-rate loans to refinance at a subsidized 4 percent rate.
But President Obama has a different proposal that would fall somewhere between the House and Senate bills. He, too, would set student lending rates each year based on Treasury’s borrowing costs, but those rates would be fixed for the life of the loan, not reset each year. He would also cap student-borrowing costs at 10 percent of a student’s income.
The White House proposal has divided Democrats and given Republicans some hope that a negotiated solution can be reached in June. Ms. Gillibrand said the income cap should be set at 5 percent, and she still opposes setting rates by market forces, even if those rates are not allowed to fluctuate, as the president has proposed.
“The reason why the federal government has made the decision to subsidize education is because getting a college education is the gateway to the middle class,” Ms. Gillibrand said. “If you want to create a growing economy and to create long-term investment in our future, that means investing in our kids.”
http://mobile.nytimes.com/2013/05/24...?from=homepage
No, it's dumbasses like you that are destroying America.
So have you defaulted on your student loans yet?
something we agree on
I have a niece that has been living for seven years now on student loans. Tuition, rent, food, gas, booze...the whole nine yards. Supported a worthless boyfriend that didn't work. Still a couple of years away from graduating with an associates degree. The system could definitely use some controls to keep stupid people from doing stupid things with student loans.
Student loan interest/limits should be somewhat based off someone's GPA/major/etc.. A political science major with a 2.5 GPA is a much higher credit risk than a petroleum engineering major with a 3.5 GPA.
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