Page 1 of 13 12311 ... LastLast
Results 1 to 10 of 130

Thread: Feds: New student loan repayment options set

  1. #1
    Sage
    Hatuey's Avatar
    Join Date
    Oct 2006
    Last Seen
    Today @ 10:34 AM
    Gender
    Lean
    Moderate
    Posts
    42,050

    Feds: New student loan repayment options set

    Feds: New student loan repayment options set - Yahoo! Finance

    The "Pay as You Earn" program will allow eligible student-loan borrowers to cap monthly payments to 10 percent of discretionary income, and have their loans forgiven after 20 years. An earlier version of the program capped payments at 15 percent and offered forgiveness after 25 years. Congress had scheduled the new program to phase in in 2014, but the Obama administration took regulatory measures to make those options available sooner. It's estimated 1.6 million borrowers could take advantage of the program.


    To qualify, borrowers must have started taking out federal loans after October 1, 2007, and received at least one disbursement after October of last year. They also must qualify for partial financial hardship based on the portion of their income standard repayments would cost. The program applies only to certain direct federal loans, and not to private loans from banks and other non-federal lenders.


    The program will set maximum monthly payments based on income and family size, which can adjust each year. Typically those monthly payments could be lower, though there are also possible downsides: By choosing a so-called Income-Based Repayment borrowers could end up paying more over the life of a loan, and they will have to submit documentation each year. Some critics have also argued the program could encourage students to borrow more than they should.
    I never went to university. My job could be pretty much be classified as a 'skilled trade'. I'm not worried about being replaced by somebody else. That said, I find this to be a good idea regardless of whether you're a Republican or Democrat. People work their asses off trying to repay off school loans from careers which simply don't pay what was invested in them while at the same time struggling to pay off house bills etc. Essentially, I think universities are OVERPRICED for the jobs which people acquire once out of them. As one musician put it:

    You pay 150K just to earn 50K a year.
    Last edited by Hatuey; 12-07-12 at 07:18 PM.
    I refuse to accept the view that mankind is so tragically bound to the starless midnight of racism and war that the bright daybreak of peace and brotherhood can never become a reality. - MLK

  2. #2
    Angry Former GOP Voter
    Fiddytree's Avatar
    Join Date
    Jul 2008
    Last Seen
    Today @ 02:48 AM
    Gender
    Lean
    Centrist
    Posts
    25,693

    Re: Feds: New student loan repayment options set

    Quote Originally Posted by Hatuey View Post
    Feds: New student loan repayment options set - Yahoo! Finance



    I never went to university. My job could be pretty much be classified as a 'skilled trade'. I'm not worried about being replaced by somebody else. That said, I find this to be a good idea regardless of whether you're a Republican or Democrat. People work their asses off trying to repay off school loans from careers which simply don't pay what was invested in them while at the same time struggling to pay off house bills etc. Essentially, I think universities are OVERPRICED for the jobs which people acquire once out of them. As one musician put it:

    You pay 150K just earn 50K a year.
    Sounds like a good option for me.
    Michael J Petrilli-"Is School Choice Enough?"-A response to the recent timidity of American conservatives toward education reform. https://nationalaffairs.com/publicat...-choice-enough

  3. #3
    Angry Former GOP Voter
    Fiddytree's Avatar
    Join Date
    Jul 2008
    Last Seen
    Today @ 02:48 AM
    Gender
    Lean
    Centrist
    Posts
    25,693

    Re: Feds: New student loan repayment options set

    Ah hell, I don't think I qualify. My disbursements of federal aid didn't come from last October....at least I don't remember so.
    Michael J Petrilli-"Is School Choice Enough?"-A response to the recent timidity of American conservatives toward education reform. https://nationalaffairs.com/publicat...-choice-enough

  4. #4
    Global Moderator
    Moderator
    Helix's Avatar
    Join Date
    Jul 2011
    Last Seen
    Today @ 08:51 AM
    Gender
    Lean
    Independent
    Posts
    37,105

    Re: Feds: New student loan repayment options set

    anything we can do to increase our nation's cognitive resources should be done. it's the best investment a nation can make.

  5. #5
    Sage
    Taylor's Avatar
    Join Date
    Aug 2009
    Location
    US
    Last Seen
    Today @ 11:14 AM
    Lean
    Undisclosed
    Posts
    6,170

    Re: Feds: New student loan repayment options set

    Quote Originally Posted by Hatuey View Post
    You pay 150K just earn 50K a year.
    Maybe they could restructure such that if the graduate isn't able to repay the price of tuition after 20 years of employment, the school provides a refund to the government.

  6. #6
    Sage
    Taylor's Avatar
    Join Date
    Aug 2009
    Location
    US
    Last Seen
    Today @ 11:14 AM
    Lean
    Undisclosed
    Posts
    6,170

    Re: Feds: New student loan repayment options set

    Quote Originally Posted by Helix View Post
    anything we can do to increase our nation's cognitive resources should be done. it's the best investment a nation can make.
    If the goal is to "increase our nation's cognitive resources" it seems that there's 100 better ways of going about it than voiding debt of low-income graduates.

  7. #7
    Banned
    Join Date
    Dec 2011
    Location
    The anals of history
    Last Seen
    07-25-15 @ 02:05 PM
    Gender
    Lean
    Progressive
    Posts
    10,348

    Re: Feds: New student loan repayment options set

    If you can't afford to attend a given school, don't attend.

  8. #8
    Guru
    Aderleth's Avatar
    Join Date
    Apr 2011
    Last Seen
    04-08-16 @ 06:26 PM
    Gender
    Lean
    Other
    Posts
    4,294

    Re: Feds: New student loan repayment options set

    Quote Originally Posted by Hatuey View Post
    Feds: New student loan repayment options set - Yahoo! Finance



    I never went to university. My job could be pretty much be classified as a 'skilled trade'. I'm not worried about being replaced by somebody else. That said, I find this to be a good idea regardless of whether you're a Republican or Democrat. People work their asses off trying to repay off school loans from careers which simply don't pay what was invested in them while at the same time struggling to pay off house bills etc. Essentially, I think universities are OVERPRICED for the jobs which people acquire once out of them. As one musician put it:

    You pay 150K just to earn 50K a year.
    I like it in theory, but suspect it could get very very expensive over time as lenders forgive lots and lots of outstanding debt.

  9. #9
    Banned
    Join Date
    May 2011
    Location
    Where they have FOX on in bars and restaurants
    Last Seen
    09-14-14 @ 02:09 PM
    Gender
    Lean
    Independent
    Posts
    14,700

    Re: Feds: New student loan repayment options set

    If you want your education payed for serve your country, that has worked very well so far.

  10. #10
    global liberation

    ecofarm's Avatar
    Join Date
    Jun 2010
    Location
    Miami
    Last Seen
    Yesterday @ 07:49 PM
    Gender
    Lean
    Independent
    Posts
    66,400

    Re: Feds: New student loan repayment options set

    I got Obama money!

    OBAMA money!

Page 1 of 13 12311 ... LastLast

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •