View Poll Results: Are student loan interest rates to high?

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Thread: Are student loan interest rates to high?

  1. #101
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    Re: Are student loan interest rates to high?

    Quote Originally Posted by tres borrachos View Post
    You didn't seriously type that about Latin, did you?
    Alright, I'm game. What is the practical application of being fluent in Latin as compared to Spanish, French, German, Italian, Japanese, Mandarin, Korean, etc.?
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  2. #102
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    Re: Are student loan interest rates to high?

    Quote Originally Posted by ocean515 View Post
    Because of the risk involved. Remember: "A student, with little to no credit history, is provided loans into the $10's of thousands, based on no income, or at the very most, the hope of future income, ..."
    What risk is involved exactly? When a bank extends a loan to an individual or a business, the risk is that the individual or business with go bankrupt/default/etc. and will not be able to pay back the loan in its entirety. The bank may have to negotiate for part of its loan.

    But student debt, unlike just about very other type of debt, is virtually impossible to discharge. If a student cannot pay it the parents will. Even death cannot discharge student loans—next of kin will be paying it off. There is about as much risk involved in student loans as there was in buying a serf in the Russian Empire.
    Last edited by Hypatia; 03-23-15 at 02:53 PM.

  3. #103
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    Re: Are student loan interest rates to high?

    Quote Originally Posted by Hypatia View Post
    What risk is involved exactly? When a bank extends a loan to an individual or a business, the risk is that the individual or business with go bankrupt/default/etc. and will not be able to pay back the loan in its entirety. The bank may have to negotiate for part of its loan. But student debt, unlike just about very other type of debt, is not dischargeable. If a student cannot pay it the parents will. Even death cannot discharge student loans—next of kin will be paying it off. There is less risk involved in student loans than there was in buying a serf in the Russian Empire.
    Tell me where a business, with no assets, no history, and nothing in the bank, can walk in and get $10's of thousands in loans they don't have to start paying back until years later. Never happen.

    As to discharge, there are ways to get a student loan discharged, and the only way next of kin are on the hook is if they cosigned for the loan. Death ends the liability.

    Student loans are high risk because nothing exists to back them but a "I promise cross my heart" pledge.

    It's amazing to me that people who have done zero planning for college, can expect to receive thousands of dollars in loans, without paying a bit of a penalty for it. Don't want to pay the price? Don't go to college. Or get a couple jobs while your attending and pay for it yourself.

  4. #104
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    Re: Are student loan interest rates to high?

    Quote Originally Posted by Phys251 View Post
    Alright, I'm game. What is the practical application of being fluent in Latin as compared to Spanish, French, German, Italian, Japanese, Mandarin, Korean, etc.?
    I never mentioned Spanish, German, etc.

    You don't know about the study of Latin...obviously. It's a fascinating subject you may want to Google. More than 50% of the words in the English language have Latin roots. Most of the words you find in medicine, law, diplomacy, literature, philosophy, anthropology, animal studies, and so on have Latin roots. Latin enables an English speaking person to easily learn the Romance languages because of the common roots in Latin. Most of the most common words you use every day come from the Latin. Latin is ties directly to the Roman Empire, and when the empire fell, the Latin language increased in dominance rather than becoming obsolete. Students who study Latin score far better on their SATs. I could go on an on but the rest you should learn on your own.
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  5. #105
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    Re: Are student loan interest rates to high?

    Quote Originally Posted by tres borrachos View Post
    I never mentioned Spanish, German, etc.

    You don't know about the study of Latin...obviously. It's a fascinating subject you may want to Google. More than 50% of the words in the English language have Latin roots. Most of the words you find in medicine, law, diplomacy, literature, philosophy, anthropology, animal studies, and so on have Latin roots. Latin enables an English speaking person to easily learn the Romance languages because of the common roots in Latin. Most of the most common words you use every day come from the Latin. Latin is ties directly to the Roman Empire, and when the empire fell, the Latin language increased in dominance rather than becoming obsolete. Students who study Latin score far better on their SATs. I could go on an on but the rest you should learn on your own.
    I always wanted to take Latin in high school, but they killed the class just as I got into the school. My dad had taken it in college; much later, he went back to the community college and took it again. My understanding is that you learn so much about the English language by taking it.

    I'm not in an area that offers it now; and I'm really bad at online courses. Maybe some year I'll be able to take it.

  6. #106
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    Re: Are student loan interest rates to high?

    Quote Originally Posted by paddymcdougall View Post
    I always wanted to take Latin in high school, but they killed the class just as I got into the school. My dad had taken it in college; much later, he went back to the community college and took it again. My understanding is that you learn so much about the English language by taking it.

    I'm not in an area that offers it now; and I'm really bad at online courses. Maybe some year I'll be able to take it.
    I took it all 4 years of HS, and it helped me so much, from my SATs (aced my English but even did well on math, even though I suck at math) to the LSATs (yes, I took them) and really for the rest of my life. I even use my Latin when playing trivia. I look at a word and hope I see a Latin root in it, and then see if I can't figure out the answer.

    My kids all take it. It's starting to come back to the school districts, thank goodness.
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  7. #107
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    Re: Are student loan interest rates to high?

    Quote Originally Posted by tres borrachos View Post
    I never mentioned Spanish, German, etc.

    You don't know about the study of Latin...obviously. It's a fascinating subject you may want to Google. More than 50% of the words in the English language have Latin roots. Most of the words you find in medicine, law, diplomacy, literature, philosophy, anthropology, animal studies, and so on have Latin roots. Latin enables an English speaking person to easily learn the Romance languages because of the common roots in Latin. Most of the most common words you use every day come from the Latin. Latin is ties directly to the Roman Empire, and when the empire fell, the Latin language increased in dominance rather than becoming obsolete. Students who study Latin score far better on their SATs. I could go on an on but the rest you should learn on your own.
    Those are words. Not grammar. Not works of literature. Just words. Seems to me that simply learning some Latin words in an English class could do the trick.

    Don't get me wrong, tres; you raise an interesting point here. I'm just playing devil's advocate with it.
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  8. #108
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    Re: Are student loan interest rates to high?

    Quote Originally Posted by MildSteel View Post
    Banks are borrowing money at almost zero percent interest rates. However student loan customers are being gouged at interests rates ranging from 4.7 to 7.2 percent. Why is it that are elected representatives in the government are allowing the people to be robbed in this way?
    I paid 6% back in the 1980's.
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    Re: Are student loan interest rates to high?

    Quote Originally Posted by tres borrachos View Post
    I took it all 4 years of HS, and it helped me so much, from my SATs (aced my English but even did well on math, even though I suck at math) to the LSATs (yes, I took them) and really for the rest of my life. I even use my Latin when playing trivia. I look at a word and hope I see a Latin root in it, and then see if I can't figure out the answer.

    My kids all take it. It's starting to come back to the school districts, thank goodness.
    I envy you! and your kids. Glad it's coming back! It's not for everyone, of course; but it's great for those that can handle it.

  10. #110
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    Re: Are student loan interest rates to high?

    Quote Originally Posted by Phys251 View Post
    Those are words. Not grammar. Not works of literature. Just words. Seems to me that simply learning some Latin words in an English class could do the trick.

    Don't get me wrong, tres; you raise an interesting point here. I'm just playing devil's advocate with it.
    Latin is a dead language. You can't converse in it. And Latin most certainly does impact grammar. The distinction in English between words like I and me come directly from the Latin cases for words.
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