Student Loan Debt?

[Gem99ultra]

I DIDN'T get a student loan. Will the government just give me the $100K+ difference please.

 

[LD48750]

Loan forgiveness is just Biden buying votes.

He should send ME $50k because I didn't take out a loan I wouldn't pay back.

 

[jyoutz]

My kids high school held a meeting for parents about funding college via grants, loans, etc. After the presentation it was opened up for questions. One person asked: "Let me see if I have this straight. My neighbor & I make exactly the same amount. He spends his money on vacations and boats so doesn't have anything in savings and I put mine in savings and forgo the vacations and boats. He will get the grant money and I won't." The presenter said: I wouldn't put it that way, but essentially you are correct.

I don’t understand your comparison. The grants are annual income based, not savings based.

 

[ultrarunner]

My nephew was required to submit family financial documents to the University and part of it was identifying assets...

 

[2manyrocks]

The entire process is extremely privacy intrusive. There are also some oddities in how assets are counted. Someone could stash their liquid assets in a retirement plan and they would not be counted towards their financial means, but keeping the same amount of assets outside of a retirement sheltered plan means those assets will be counted towards the family's expected financial contribution.

It would save the taxpayers money to give away degrees instead of funding this nonsense and paying for the bureaucrats that administer it. Plus, we could skip the 6+ years some of these students spend in college, and they could be out working actually learning a useful skill.

 

[MattB4]

...

It would save the taxpayers money to give away degrees instead of funding this nonsense and paying for the bureaucrats that administer it. Plus, we could skip the 6+ years some of these students spend in college, and they could be out working actually learning a useful skill.

We could just add 4 more years of public education. Call it Upper High school. Kids are not growing up these days anyway until after 20 so it would be no big deal to keep them in school a bit longer. Only during UH would they be allowed to work part time.

So there would be Pre-school, Grade School, Junior high, Senior high and Upper high. Colleges would hate to lose all them kids though.

 

[ultrarunner]

Thank You... Intrusive is the word that escaped me.

What I found odd is my nephew was 20 at the time he applied and had already completed 2 years at the local community college...

So why are the parents compelled to be involved?

Turned out with parents gainfully employed and owning a farm the mandatory assistance application was for naught... just as my brother had thought.

 

[Torvy]

I don’t understand your comparison. The grants are annual income based, not savings based.

It uses both. My 4th kid is in her Sr year at Tech. All 4 kids had this issue. They use net wealth, essentially, to determine how much you can afford, not income.

Tuition rose as a direct result of an uptick in fed/state student loans. More money chasing the same quantity of 'education'. Simple supply and demand stuff. This has zero to do with inflation.

If the government has any interest in paying for education, it is in exchange for service like any other employer. One reason they could get military recruits was for GI Bill. Why bother with the risk and hassle of service if the country will give you a loan and not make you pay it back?

 

[two_bit_score]

Those are great options for people in the medical field. Not so much if you are studying engineering or another science.

Contrary to the opinions of some, the government is not supposed to be all things to all people. Big Govt deep pockets can run out of money.

 

[two_bit_score]

If the government has any interest in paying for education, it is in exchange for service like any other employer. One reason they could get military recruits was for GI Bill. Why bother with the risk and hassle of service if the country will give you a loan and not make you pay it back?

Bingo!

 

[2manyrocks]

One of my friends couldn't afford college so he served in the Navy to pay for his college in the days when that was the option available to him before student loans became the norm.

 

[scootr]

Contrary to the opinions of some, the government is not supposed to be all things to all people. Big Govt deep pockets can run out of money.

And end up 34 trillion dollars in debt ?

 

[Dman1981]

There is no such thing as free or government money
It all
Comes
From taxpayers
Who work not welfare or people on disability
If he is forgiving the debt just means they are going to take more money from working class
In ca there are more people not working than working
And it keeps getting worse
Homeless get ebt cards free healthcare like I said taxpayers pay all this worked on government for ten years watched millions of dollars flushed down the toilet every year
Just fell
On deaf ears

 

[2manyrocks]

It has been my experience that the students who had to work for their education put the most value on it. They weren't always at the top in their grades due to having to balance work and study and never seemed to get any recognition that I could see, but there was something special about them.

 

[Chewwy]

And end up 34 trillion dollars in debt ?

That’s only a little over $102,000 for every man, woman, and child in the country.

 

[CloverKnollFarms]

That’s only a little over $102,000 for every man, woman, and child in the country.

I can pay my portion today. Sure hope the rest of the people that vote for these idiots can.

 

[two_bit_score]

I can pay my portion today. Sure hope the rest of the people that vote for these idiots can.

How many are in your immediate family?

 

[hiddentacocatneddih]

Sad truth is these universities need the construct of loans to stay afloat and need to lobby to keep them

$100 a credit hour in a cheaper area to live for 60 hour associate at a community college or pay $3-500. Plus room.and board. To go to a university.

 

[EddieWalker]

The best way to get somebody to vote for you is to make them dependent on you.

From what I've seen, people with student loans usually only pay the very minimum and rarely pay extra to pay it off.

I had an employee for a short time that was going to school and paying for it with student loans. The loans covered tuition, books, a room and food. The money I paid that person was used to party. How many student loans are used for housing and food?

As long as government gives loans out to everyone, the schools will charge more and more money without regard for what they are providing.

When was the last time you met somebody with a degree that you felt their degree meant anything?

What percentage of those who are getting their loans paid off by the current administration will vote for that administration?

 

[CloverKnollFarms]

How many are in your immediate family?

Three I'm responsible for