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Should anything be done for graduate/professional students?

Should anything be done for graduate/professional students?

  • Raise interest rates

    Votes: 0 0.0%
  • Raise tuition to generate revenue for the gov.

    Votes: 0 0.0%

  • Total voters
    22

digsbe

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Amid discussions of student loans many talk of aid and interest rates for undergrad students. My poll is asking do you think aid should be increased for graduate students? Graduate/professional school is extremely expensive, many times costing as much as a house. When I graduate pharmacy school I will be $150,000-$200,000 in student loan debt. The interest rate is 6.8% and accrues immediately (upon borrowing) with a 1% disbursement fee. Grad plus loans are put into play after a student has borrowed $31,000 through stafford and has a 7.9% interest rate accruing immediately with a 4% disbursement fee. There is no pell grant, state aid (at least in my state), or much of anything else outside of very small (and rare) outside scholarships for graduate/professional students.

Law school graduates have an average of $100,433 in debt Law School Student Debt Exceeds $100,000 Amid Jobs Shortage - Bloomberg

Medical school graduates have an average of $157,944 in debt. Background

The debt burden has become insane. Keep in mind that these are averages. People who do not come from wealthy families, like me, must take out the maximum number to essentially finance all school costs and most living expenses.

Should the government increase funding for grad students? Should they decrease it? What should happen with the student loans and interest rates? Keep in mind, the federal government is in charge of the loans and interest rates. Student loan debt has also surpassed credit card debt.
 
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reduce interest rates for folks who got a degree from a public university or college.

NO hand-outs for folks who went to a private school.
 
reduce interest rates for folks who got a degree from a public university or college.

NO hand-outs for folks who went to a private school.

Why? What's the difference in your opinion? Poor people (like myself) have graduated from private schools solely due to obtaining academic scholarships (and retaining them) while getting PELL grants and other grants and commuting from home (to save money). What about students who go to a private institution for graduate school?
 
Why? What's the difference in your opinion? Poor people (like myself) have graduated from private schools solely due to obtaining academic scholarships (and retaining them) while getting PELL grants and other grants and commuting from home (to save money).

because private schools tend to cost more.

public schools are fine, and thats where folks should go if money is a problem.
 
because private schools tend to cost more.

public schools are fine, and thats where folks should go if money is a problem.

They do cost more, but public school students typically cost the government more. Federal aid is given out the same between private/public school students and the FAFSA EFC (estimated family contribution) is universal regarding any student from any institution.
 
reduce interest rates for folks who got a degree from a public university or college.

NO hand-outs for folks who went to a private school.

I actually agree with this. one of the few things some might consider me leftwing on is I have no problem with paying taxes for public education even though my son goes to a private school and I went to a private grade school a prep school a private college, private law school though my masters was mixed.

and I also agree with you on the last point. when i was at an expensive (well 12K a year was expensive 30 years ago)law school a bunch of lefty students were trying to get the entire school\to write congress and senate demanding that private law students got more aid

I wrote senators glenn and Metzenbaum and told them that law students shouldn't get any subsidies when there were thousands of people who needed help to get college degrees law degrees are luxuries and we have way too many lawyers, law schools and law students. now medical schools, engineering schools etc-that's different. but crap we don't need more of should get ZERO funding when so many things that are "deserving" (I don't think the federal government should be involved in education but if it is-they should fund essential educations more than frivolous ones.
 
Seeing that people are already getting a pretty damn sweet deal, with access to thousands of dollars, with nary any credit history and an under market interest rate.
I think enough has been done for students.
 
because private schools tend to cost more.

public schools are fine, and thats where folks should go if money is a problem.

true, I told one lefty classmate that if you want to be a public sector lawyer you don't need to go to a top ten ivy school. you go to such schools to make the big bucks or to be a law professor at a top school. if you want to represent the poor in their struggles against land lords or prosecutors (99% of the state prosecutors went to their local law schools-not Yale or Cornell or Stanford), you don't need a Law degree from Columbia or Duke
 
Seeing that people are already getting a pretty damn sweet deal, with access to thousands of dollars, with nary any credit history and an under market interest rate.
I think enough has been done for students.

Grad plus loans are based on credit, and you cannot erase student loans by declaring bankruptcy. The feds can also garnish wages to pay back loans.

I see it as the fed's way of milking money from students :shrug: They figure grad students will make 6+ figures one day and can pay all that back.
 
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because private schools tend to cost more.

Lol no.

It costs per student in this country in public schools 9,000 dollars

While on the hand, it costs on average of 2,000 dollars per student in private schools.
 
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Grad plus loans are based on credit, and you cannot erase student loans by declaring bankruptcy. The feds can also garnish wages to pay back loans.

The interest rate on these loans are below market and most young people getting them have a thin or non existent credit file.
More realistic interest rates for these loans should be double digit, based upon the risk involved to the lender.

Honestly, if it isn't already a good deal for you, why are you going to graduate school?
To me, this is one of those "don't look a gift horse in the mouth" situations.
 
Lol no.

It costs per student in this country in public schools 9,000 dollars

While on the hand, it costs on average of 2,000 dollars per student in private schools.


This site disagrees:


Average Private School Tuition: 2007-08
All Levels Elementary Secondary K-12 Schools
All Schools $8,549 $6,733 $10,549 $10,045
Catholic $6,018 $4,944 $7,826 $9,066
Other Religious $7,117 $6,576 $10,493 $7,073
Non-Sectarian $17,316 $15,945 $27,302 $16,247
Source: Table 63, Digest of Education Statistics 2010, National Center for Education Statistics.
 
20% of students in the USA go to private colleges.

These folks, if they got a federal student loan, should not be eligible for any more help.
 
The interest rate on these loans are below market and most young people getting them have a thin or non existent credit file.
More realistic interest rates for these loans should be double digit, based upon the risk involved to the lender.

Honestly, if it isn't already a good deal for you, why are you going to graduate school?
To me, this is one of those "don't look a gift horse in the mouth" situations.

What risk? For professional students we will most likely make enough money to pay them back royally. Mortgages have a lower interest rate and in my opinion pose more risk than graduate student loans. I almost feel taken advantage of when undergrads get aid, while grad students get essentially nothing but unsubsidized loans with high interest (while undergrads get subsidized loans with much much more aid).

I'm going to graduate school because it's my dream, and the nation is in need to graduates from doctorate degree programs. I'm going with the sting that massive debt is just the reality, but I don't think it should be this way. Universities raise tuition, the government provides no aid (while kids studying undergrad art, music, or theater get aid) and the government essentially pockets our interest. I think it's more high risk for students to take out loans in majors that are not economically viable versus students going on to graduate school to receive specialized doctorates that are needed in the country.
 
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What risk? For professional students we will most likely make enough money to pay them back royally. Mortgages have a lower interest rate and in my opinion pose more risk than graduate student loans.

Higher income, does not guarantee payment.
There are plenty of high income, debt delinquent persons.

Your credit is based upon your usage and repayment, not your income.

I'm going to graduate school because it's my dream, and the nation is in need to graduates from doctorate degree programs. I'm going with the sting that massive debt is just the reality, but I don't think it should be this way. Universities raise tuition, the government provides no aid (while kids studying undergrad art, music, or theater get aid) and the government essentially pockets our interest. I think it's more high risk for students to take out loans in majors that are not economically viable versus students going on to graduate school to receive specialized doctorates that are needed in the country.

Your dream shouldn't be at the expense of everyone else.
You obviously value schooling, more than the current cost, else you wouldn't have applied for the school.

Take the loan and pay it back, with no bailout for your choices.
 
...I'm going to graduate school because it's my dream, and the nation is in need to graduates from doctorate degree programs. I'm going with the sting that massive debt is just the reality, but I don't think it should be this way. Universities raise tuition, the government provides no aid (while kids studying undergrad art, music, or theater get aid) and the government essentially pockets our interest. I think it's more high risk for students to take out loans in majors that are not economically viable versus students going on to graduate school to receive specialized doctorates that are needed in the country.

may I ask what your getting a degree in?
 
Higher income, does not guarantee payment.
There are plenty of high income, debt delinquent persons.

Your credit is based upon your usage and repayment, not your income.
I understand this, but with these loans the government can garnish your wages to force repayment. If you make the money, they will take it. Loans outside of the Stafford loans are based on student credit as well. You can't make a high income and avoid these loans because they will literally take the money from your paycheck like taxes (which isn't such a bad thing, people should honor their debts).

Your dream shouldn't be at the expense of everyone else.
You obviously value schooling, more than the current cost, else you wouldn't have applied for the school.

Take the loan and pay it back, with no bailout for your choices.

Should everyone pay higher costs for healthcare so that practitioners can pay back their loans? We already finance the dreams of undergrads, and their dreams are economically foolish (like majoring n theater, art or something along those lines). I do value my education above the cost and I agreed to this. However, given the current system I don't think it's fair that graduate students receive no aid when these degrees benefit the country more while other students in other programs get aid to do less economically viable things. I'm not asking for a bail out nor am I asking for free education. I'm just asking for a fair apportionment of funds and not not take advantage of graduate students by imposing higher interest rates, no subsidized loans that undergrads enjoy and the fact that realistically we will pay back our loans, the art major who graduated with $30,000 in debt that now works waiting tables will not (yet receives funding). I will be a net payer into the loan system via my high interest, I think it should be fair.
may I ask what your getting a degree in?

Doctor of Pharmacy, PharmD.
 
I understand this, but with these loans the government can garnish your wages to force repayment. If you make the money, they will take it. Loans outside of the Stafford loans are based on student credit as well. You can't make a high income and avoid these loans because they will literally take the money from your paycheck like taxes (which isn't such a bad thing, people should honor their debts).

Yes, the reason being that these high dollar debts aren't secured by anything other than your promise to pay.
But even with that, the interest rates are already below market.

Should everyone pay higher costs for healthcare so that practitioners can pay back their loans? We already finance the dreams of undergrads, and their dreams are economically foolish (like majoring n theater, art or something along those lines). I do value my education above the cost and I agreed to this. However, given the current system I don't think it's fair that graduate students receive no aid when these degrees benefit the country more while other students in other programs get aid to do less economically viable things. I'm not asking for a bail out nor am I asking for free education. I'm just asking for a fair apportionment of funds and not not take advantage of graduate students by imposing higher interest rates, no subsidized loans that undergrads enjoy and the fact that realistically we will pay back our loans, the art major who graduated with $30,000 in debt that now works waiting tables will not (yet receives funding). I will be a net payer into the loan system via my high interest, I think it should be fair.

Would you prefer to pay it yourself or have the government collect it in an inefficient manner, to pay.
One way or another, it will be paid.

It's just more efficient to do so, from the borrower, rather than socializing the cost.

It's entirely fair, you get money to go to school and earn money after you graduate.
 
Amid discussions of student loans many talk of aid and interest rates for undergrad students. My poll is asking do you think aid should be increased for graduate students? Graduate/professional school is extremely expensive, many times costing as much as a house. When I graduate pharmacy school I will be $150,000-$200,000 in student loan debt. The interest rate is 6.8% and accrues immediately (upon borrowing) with a 1% disbursement fee. Grad plus loans are put into play after a student has borrowed $31,000 through stafford and has a 7.9% interest rate accruing immediately with a 4% disbursement fee. There is no pell grant, state aid (at least in my state), or much of anything else outside of very small (and rare) outside scholarships for graduate/professional students.

Law school graduates have an average of $100,433 in debt Law School Student Debt Exceeds $100,000 Amid Jobs Shortage - Bloomberg

Medical school graduates have an average of $157,944 in debt. Background

The debt burden has become insane. Keep in mind that these are averages. People who do not come from wealthy families, like me, must take out the maximum number to essentially finance all school costs and most living expenses.

Should the government increase funding for grad students? Should they decrease it? What should happen with the student loans and interest rates? Keep in mind, the federal government is in charge of the loans and interest rates. Student loan debt has also surpassed credit card debt.

The number of students selecting expensive schools and degree programs that they cannot even partially cover out of pocket is what's insane.

If you don't want to shoulder the burden of the debt = don't accept the loan terms. . . or don't go to an excessively expensive school.
 
colleges?????

No, grade schools.

Sorry for the confusion.

If you want to know what I think on colleges then I think the assistance only raises the cost.
 
I understand this, but with these loans the government can garnish your wages to force repayment. If you make the money, they will take it. Loans outside of the Stafford loans are based on student credit as well. You can't make a high income and avoid these loans because they will literally take the money from your paycheck like taxes (which isn't such a bad thing, people should honor their debts).



Should everyone pay higher costs for healthcare so that practitioners can pay back their loans? We already finance the dreams of undergrads, and their dreams are economically foolish (like majoring n theater, art or something along those lines). I do value my education above the cost and I agreed to this. However, given the current system I don't think it's fair that graduate students receive no aid when these degrees benefit the country more while other students in other programs get aid to do less economically viable things. I'm not asking for a bail out nor am I asking for free education. I'm just asking for a fair apportionment of funds and not not take advantage of graduate students by imposing higher interest rates, no subsidized loans that undergrads enjoy and the fact that realistically we will pay back our loans, the art major who graduated with $30,000 in debt that now works waiting tables will not (yet receives funding). I will be a net payer into the loan system via my high interest, I think it should be fair.


Doctor of Pharmacy, PharmD.


We already finance the dreams of undergrads, and their dreams are economically foolish (like majoring n theater, art or something along those lines).

Please stop this. People in the arts do make money. We work in advertising agencies museums as art therapists creating layouts fo rthe web video game art work toys and much more Some of us happen to make very good money. One of my friends is a creative director for a very famous designer now who use to employ Brook Sheilds.

I do however agree with you that the cost of grad is outrageous. I know this from my days a NYU.
 
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