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Thread: Should taxpayer money be used to pay for student loans?

  1. #31
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    Re: Should taxpayer money be used to pay for student loans?

    Understandably, it seems a lot of people don't understand what bankruptcy is or how it works.

    You don't dismiss certain debts, they are put into forbearance or paid off in a large, renegotiated sum, which you then a lot of your money toward.

    For the record: Fed student loans have already been "paid by taxpayers" - and all that changes is at what time you pay it back. You never get out from it.
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  2. #32
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    Re: Should taxpayer money be used to pay for student loans?

    Quote Originally Posted by Navy Pride View Post
    He should of thought about that before he got the loans.
    That's a rather nave attitude to take. I know of no college students who takes out a student loans with the intent of defaulting. I would hope they'd go to college to pursue a career in a field they believe will eventually become their life's profession and, therefore, make money doing what they were educated and trained to do. Doesn't always work out that way, but I'd consider anyone who'd take out a student loan just for the money a rather foolish individual...unless they find a way to parlay that loan into tons of cash Mark Zuckerburg/MIT Blackjack pro-style.
    "A fair exchange ain't no robbery." Tupac Shakur w/Digital Underground

  3. #33
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    Re: Should taxpayer money be used to pay for student loans?

    A good idea might be to look at loan recipient's grades. The loans should be dependent upon the grades a student gets. That way you know the loan recipients are taking their loans seriously.

  4. #34
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    Re: Should taxpayer money be used to pay for student loans?

    Quote Originally Posted by CriticalThought View Post
    As long as they are not private student loans or PLUS loans I am not sure why someone would have trouble. With income based repayment options you may never be able to pay them off, but you can keep them at bay.
    Actually, the income-based repayment option is a pretty good deal. As your net income increases, you pay more towards the debt. You have to recertified your income annually, but as long as you have earnings you only make repayments commensurate with your income level. Therefore, the rate at which you repay the loan depends greatly on how quickly your income rises over time. Wrote a book that covers student loan debt and alot more. Anyone interested, drop me a PM.
    "A fair exchange ain't no robbery." Tupac Shakur w/Digital Underground

  5. #35
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    Re: Should taxpayer money be used to pay for student loans?

    A short and to the point answer to the OP .... HELL NO !

    I had to pay for mine, my sons paid for theirs.... surprise, surprise, surprise... we each lived through it and prospered. Many young folk spend too much time in school playing ( it has been reported that 50% of students spend 6 years in college accumulating debt; then leave sans degree ) and then leave or are graduated just in time to acquire a new luxury/high end auto....the latest cool apartment or home ... then can't pay tuition cost that are less the the auto payments.... B.S.

    Responsibility redefined these days seems to mean "who can do this for me?"


    Let the 25-30 year old children stand on their own and mature.

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