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

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Thread: Are student loan interest rates to high?

  1. #11
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    Re: Are student loan interest rates to high?

    Quote Originally Posted by KevinKohler View Post
    Yep. And we continue to play the game because, these days, you need a degree just to be a retail dept manager.
    And yet, ironically enough, a college degree worth $30,000+, taken by itself, is barely enough to get the average person a job pushing shopping carts and stocking shelves in today's economy.

    I'm sorry, but something's got to give.
    Last edited by Gathomas88; 03-22-15 at 11:26 AM.

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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?
    Warren has tried to reduce the interest rates on student loans. Hasn't gotten her bill through yet.

    Remember, these days govt is mostly doing student loans, not banks; therefore the govt is getting the profits. So if they cut the rates, they need to find some more revenue elsewhere. Or cut spending.

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    Re: Are student loan interest rates to high?

    Quote Originally Posted by ocean515 View Post
    So let's see. 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, and you consider 4.5% to 7.2% gouging?

    It's difficult to know where to go with that.
    Is defaulting or filing bankrupt on a student loan possible?


    Student loans are THE safest bet you can make. You got an 18 year kid with their entire life ahead of them. That's 80 years or more to recoup that loan, baring a premature death.
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    Reports indicate that everyone knew he was hauling a bunch of guns up there. But, since you brought it up, there's something which should be illegal: guns that breakdown.

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    Re: Are student loan interest rates to high?

    Quote Originally Posted by KevinKohler View Post

    Who you going to higher as a cashier, if all other things are equal...the college grad, or the non college grad?
    Since being a cashier doesn't require college graduate knowledge, I'd hire the one who could be most punctual and reliable as well as flexible to cover other positions when people inevitably call out.
    I think if Thomas Jefferson were looking down, the author of the Bill of Rights, on whats being proposed here, hed agree with it. He would agree that the First Amendment cannot be absolute. - Chuck Schumer (D). Yet, Madison and Mason wrote the Bill of Rights, according to Sheila Jackson Lee, 400 years ago. Yup, it's a fact.


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    Re: Are student loan interest rates to high?

    Quote Originally Posted by KevinKohler View Post
    Is defaulting or filing bankrupt on a student loan possible?


    Student loans are THE safest bet you can make. You got an 18 year kid with their entire life ahead of them. That's 80 years or more to recoup that loan, baring a premature death.
    That is not the point. Is the interest rate too high, considering the risk?

    Have programs been introduced to forgive student loan debt?

  6. #16
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    Re: Are student loan interest rates to high?

    Quote Originally Posted by KevinKohler View Post
    Yep. And we continue to play the game because, these days, you need a degree just to be a retail dept manager.
    That is because a HS diploma (or GED) does not mean that an applicant is trainable or or even possesses a basic grasp of math or English. Our own government does this as well - college education (usually in ANY field) is required to be a commissioned military officer or to advance to the upper GS civilian ranks. Nobody wants to do thousands of interviews or to face dopey EEO lawsuits - so the herd of applicants is first thinned by using college as an essential requirement.
    The reasonable man adapts himself to the world: the unreasonable one persists to adapt the world to himself.
    Therefore all progress depends on the unreasonable man. ― George Bernard Shaw, Man and Superman

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    Re: Are student loan interest rates to high?

    Quote Originally Posted by ttwtt78640 View Post
    That is because a HS diploma (or GED) does not mean that an applicant is trainable or or even possesses a basic grasp of math or English. Our own government does this as well - college education (usually in ANY field) is required to be a commissioned military officer or to advance to the upper GS civilian ranks. Nobody wants to do thousands of interviews or to face dopey EEO lawsuits - so the herd of applicants is first thinned by using college as an essential requirement.
    How does one gain acceptance into College without a basic grasp of math and english?
    I think if Thomas Jefferson were looking down, the author of the Bill of Rights, on whats being proposed here, hed agree with it. He would agree that the First Amendment cannot be absolute. - Chuck Schumer (D). Yet, Madison and Mason wrote the Bill of Rights, according to Sheila Jackson Lee, 400 years ago. Yup, it's a fact.


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    Re: Are student loan interest rates to high?

    Quote Originally Posted by ocean515 View Post
    That is not the point. Is the interest rate too high, considering the risk?

    Have programs been introduced to forgive student loan debt?


    The interest rate should be the lowest availble if it is a government supported loan...

    but my question is when does it kick in?

    By rights it should be two to five years after graduation
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    Re: Are student loan interest rates to high?

    Quote Originally Posted by Fearandloathing View Post
    The interest rate should be the lowest availble if it is a government supported loan...

    but my question is when does it kick in?

    By rights it should be two to five years after graduation
    I could be wrong but I think that's how it works - my nephew got a private loan for college about 7 years ago now and at one point it was 14% which is insane. He had to start paying on it 2 years after graduation - but my sister paid it off for him and he paid her back without the interest which was nice of her to do. I don't know if that applies to government loans since I think the a few years ago all loans had to go through the US government for college or some such thing.
    I think if Thomas Jefferson were looking down, the author of the Bill of Rights, on whats being proposed here, hed agree with it. He would agree that the First Amendment cannot be absolute. - Chuck Schumer (D). Yet, Madison and Mason wrote the Bill of Rights, according to Sheila Jackson Lee, 400 years ago. Yup, it's a fact.


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    Re: Are student loan interest rates to high?

    Quote Originally Posted by ocean515 View Post
    That is not the point. Is the interest rate too high, considering the risk?

    Have programs been introduced to forgive student loan debt?
    https://studentaid.ed.gov/repay-loan...can-my-federal

    and

    Obama Student Loan Forgiveness - Student Debt Relief

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