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

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  • Yes

    31 70.45%
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Thread: Are student loan interest rates to high?

  1. #31
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    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?
    By qualifying for a loan, of course, silly!
    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. #32
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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
    Mine started 6 months after graduation. You can defer them, but that just builds interest.
    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.

  3. #33
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    Re: Are student loan interest rates to high?

    Quote Originally Posted by KevinKohler View Post
    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.
    Why yes. It allows the bill to be sent to every taxpayer.

  4. #34
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    Re: Are student loan interest rates to high?

    Quote Originally Posted by Ockham View Post
    How is that proven? How does accumulating enough credits to graduate prove my reliability?
    Because failure to show up to class more than a few times results in a fail. At least it did at my college. I think you had, like, 3 sick days, allowable.
    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.

  5. #35
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    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?
    Sally Mae. That sounds like a Sally Mae private loan.
    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.

  6. #36
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    Re: Are student loan interest rates to high?

    Quote Originally Posted by Ockham View Post
    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.
    My wife has loans through Sally Mae, and while I don't think any of them ever made it to 14%, I believe at one point it was at 12% or so. And since Sally Mae is considered private, they can deny you for consolidation, and keep the interest in flux with the market.
    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.

  7. #37
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    Re: Are student loan interest rates to high?

    Quote Originally Posted by KevinKohler View Post
    Because failure to show up to class more than a few times results in a fail. At least it did at my college. I think you had, like, 3 sick days, allowable.
    Yes, there's a correlation between class attendance and passing, but there are many institutions that don't have an attendance policy, generally larger ones that aren't as dependent on state funding (in many states funding is figured on student contact hours, and this includes the number of warm bodies in each classroom).

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    Re: Are student loan interest rates to high?

    Quote Originally Posted by ocean515 View Post
    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.
    Absolutely. Don't put tax payers on the dole for every single liberal arts degree seeker who wants to stay in the bubble for as long as they can prior to crashing into "real life".
    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.

  9. #39
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    Re: Are student loan interest rates to high?

    Quote Originally Posted by ocean515 View Post
    I am aware these programs exist. The suggestion there is no way to discharge the original promise is not true.

    That was my point.
    But it's not correct. A bank doesn't care WHO pays back the loan, only that it's paid back...with interest. So, again, student loans are the safest bet in town, by a mile.
    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. #40
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    Re: Are student loan interest rates to high?

    Quote Originally Posted by Ockham View Post
    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 System 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.
    Adding "with experience" to having a specialized college degree changes nothing because to get that experience also required the degree. I never said, or even implied, that all jobs required a college degree - I simply stated that employers often use the college degree requirement as a filter to limit the applicant pool.
    “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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