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

Voters
44. You may not vote on this poll
  • Yes

    31 70.45%
  • No

    9 20.45%
  • Maybe

    3 6.82%
  • Don't know

    1 2.27%
Page 3 of 24 FirstFirst 1234513 ... LastLast
Results 21 to 30 of 234

Thread: Are student loan interest rates to high?

  1. #21
    Sage
    KevinKohler's Avatar
    Join Date
    Oct 2011
    Location
    CT
    Last Seen
    Yesterday @ 09:00 PM
    Gender
    Lean
    Undisclosed
    Posts
    15,989
    Blog Entries
    1

    Re: Are student loan interest rates to high?

    Quote Originally Posted by Ockham View Post
    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.
    We're assuming all other things, like these criteria, are equal.

    Someone with a degree has a proven record of reliability.
    Quote Originally Posted by calamity View Post
    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.

  2. #22
    Noblesse oblige
    Ockham's Avatar
    Join Date
    Oct 2009
    Location
    New Jersey
    Last Seen
    01-27-17 @ 07:23 PM
    Gender
    Lean
    Libertarian - Right
    Posts
    23,909
    Blog Entries
    4

    Re: Are student loan interest rates to high?

    Quote Originally Posted by KevinKohler View Post
    We're assuming all other things, like these criteria, are equal.
    Someone with a degree has a proven record of reliability.
    How is that proven? How does accumulating enough credits to graduate prove my reliability?
    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.


  3. #23
    Left the building
    Fearandloathing's Avatar
    Join Date
    Jan 2012
    Location
    Vancouver, Canada Dual citizen
    Last Seen
    Yesterday @ 10:05 PM
    Gender
    Lean
    Independent
    Posts
    18,475

    Re: Are student loan interest rates to high?

    Quote Originally Posted by Ockham View Post
    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.


    14%????

    That's outrageous! Interest rates on consumer loans are a fraction of that...who's making the big profit?
    ""You know, when we sell to other countries, even if they're allies -- you never know about an ally. An ally can turn."
    Donald Trump, 11/23/17

  4. #24
    Sometimes wrong

    ttwtt78640's Avatar
    Join Date
    May 2012
    Location
    Uhland, Texas
    Last Seen
    Today @ 09:40 AM
    Gender
    Lean
    Libertarian
    Posts
    34,656

    Re: Are student loan interest rates to high?

    Quote Originally Posted by Ockham View Post
    How does one gain acceptance into College without a basic grasp of math and english?
    I never stated that was the case, but I would assume that many higher education facilities accept anyone that can get a loan to attend. In Texas (at UT) they take the top 10% of every HS graduating class regardless of SAT scores, although they do limit which degree programs may be selected based on SAT scores.

    My point was that employers tend to prefer to interview/hire only those applicants that actually got college degrees, not only those that have "some college".
    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

  5. #25
    Noblesse oblige
    Ockham's Avatar
    Join Date
    Oct 2009
    Location
    New Jersey
    Last Seen
    01-27-17 @ 07:23 PM
    Gender
    Lean
    Libertarian - Right
    Posts
    23,909
    Blog Entries
    4

    Re: Are student loan interest rates to high?

    Quote Originally Posted by Fearandloathing View Post
    14%????

    That's outrageous! Interest rates on consumer loans are a fraction of that...who's making the big profit?
    Yeah, he was just over yesterday and mentioned his student loan at one point was 14%. My jaw dropped. My Mom and Dad in the mid 1960's took out a mortgage on their new house at 12% as I still have the paperwork on it. Maybe he was wrong but that's what he told me yesterday. I have to ask him about it at Easter when I see him next - which bank he took out the loan and the particulars.
    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.


  6. #26
    Sage

    ocean515's Avatar
    Join Date
    Jan 2013
    Location
    Southern California
    Last Seen
    @
    Gender
    Lean
    Other
    Posts
    24,705

    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'm not a big fan of student loans, so I haven't spent much time considering the when and how. I think the availability of student loans has been exploited by Public and Private Universities to the detriment of the students.

    In my book, if there are going to be government backed student loan programs, they should only be provided for students seeking degrees in areas where shortages of qualified employment is prevalent. For me that means engineering, and other core fields of study.

  7. #27
    Sage

    ocean515's Avatar
    Join Date
    Jan 2013
    Location
    Southern California
    Last Seen
    @
    Gender
    Lean
    Other
    Posts
    24,705

    Re: Are student loan interest rates to high?

    I am aware these programs exist. The suggestion there is no way to discharge the original promise is not true.

    That was my point.

  8. #28
    Noblesse oblige
    Ockham's Avatar
    Join Date
    Oct 2009
    Location
    New Jersey
    Last Seen
    01-27-17 @ 07:23 PM
    Gender
    Lean
    Libertarian - Right
    Posts
    23,909
    Blog Entries
    4

    Re: Are student loan interest rates to high?

    Quote Originally Posted by ttwtt78640 View Post
    I never stated that was the case, but I would assume that many higher education facilities accept anyone that can get a loan to attend. In Texas (at UT) they take the top 10% of every HS graduating class regardless of SAT scores, although they do limit which degree programs may be selected based on SAT scores.

    My point was that employers tend to prefer to interview/hire only those applicants that actually got college degrees, not only those that have "some college".
    I would say where a degree is required it certainly makes sense - but cashier isn't one of those jobs. In fact, I'd probably not hire the college graduate (now thinking about it) because they are over qualified and will most likely leave for a better job quicker than someone who didn't go to college. So I wouldn't want to keep hiring people them leaving and having to rehire repeatedly if I didn't absolutely have to. I did my share of hiring but for very technical jobs which required at least a BS in Computer Science, Information Systems or other related type field with a valid CCNA or CCNP. Even then I'd probably have a 50% turn over rate because they'd be shopping their skills for higher paying jobs. I was more keen on seeking out qualified people who already had experience and not fresh out of college kids.
    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.


  9. #29
    Sage
    KevinKohler's Avatar
    Join Date
    Oct 2011
    Location
    CT
    Last Seen
    Yesterday @ 09:00 PM
    Gender
    Lean
    Undisclosed
    Posts
    15,989
    Blog Entries
    1

    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?
    To forgive, not to allow default. This does not increase the risk to the lender, it simply means a change of address for sending out the bill.
    Quote Originally Posted by calamity View Post
    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.

  10. #30
    Sometimes wrong

    ttwtt78640's Avatar
    Join Date
    May 2012
    Location
    Uhland, Texas
    Last Seen
    Today @ 09:40 AM
    Gender
    Lean
    Libertarian
    Posts
    34,656

    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?
    Try to get an unsecured loan, lacking any current income, at a lower rate and then get back to us.

    The people "getting robbed" are those that subsidize and guarantee these loans and those that must pay the inflated tuition prices which they allow.
    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

Page 3 of 24 FirstFirst 1234513 ... 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
  •