View Poll Results: Are high student loan interest rates a form of tax on the middle class?

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    13 46.43%
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    13 46.43%
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Thread: Are high student loan interest rates a form of tax on the middle class?

  1. #111
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    Re: Are high student loan interest rates a form of tax on the middle class?

    Quote Originally Posted by SMTA View Post
    And if you don't like the interest rate, don't get the loan. Problem solved.
    Because I pay a substantial amount of income tax, I have the right to say that I feel that the interest rates are too high, and why I feel that is the case. If you don't like me saying that, don't listen. Problem solved.

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    Re: Are high student loan interest rates a form of tax on the middle class?

    Quote Originally Posted by MildSteel View Post
    Do you have a link for that default rate? Not only that but the government has the mechanism of wage garnishment to protect itself from the losses associated with default.

    According to this source the government made $41 billion dollars in profit from student loans, depending on how the accounting is done.



    Government books $41.3 billion in student loan profits



    I don't know about that, but that is not the point. I was just noting that it appears that you may have attended UT Austin. If you look at their tuition rates, they have gone up quite a bit. When you factor in room and board and the price of books and supplies, you end up with some whopping expenses.
    Then don't attend college.

    It is your Democratic choice.

    Or, get the excellent grades required for a scholarship, and cost could be Zero.

  3. #113
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    Re: Are high student loan interest rates a form of tax on the middle class?

    Quote Originally Posted by SMTA View Post
    Then don't attend college.

    It is your Democratic choice.

    Or, get the excellent grades required for a scholarship, and cost could be Zero.
    If you don't like the fact that I can voice my opinion on what I think student loan interest rates, then don't listen, or don't live in a democracy. That is your choice.

    My daughter had good grades and got scholarships. The cost of the education that she got was so expensive that the scholarships were not enough.

  4. #114
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    Re: Are high student loan interest rates a form of tax on the middle class?

    Quote Originally Posted by MildSteel View Post
    If you don't like the fact that I can voice my opinion on what I think student loan interest rates, then don't listen, or don't live in a democracy. That is your choice.

    My daughter had good grades and got scholarships. The cost of the education that she got was so expensive that the scholarships were not enough.
    That's why God gave us cheaper schools.

    Don't like the cost, don't go to the school.

    Why whine about a conscious decision that you already made?
    Greatness lies not in being strong, but in the right use of strength - Henry Ward Beecher
    Baby sister, I was born game and I intend to go out that way - Rooster Cogburn

  5. #115
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    Re: Are high student loan interest rates a form of tax on the middle class?

    Quote Originally Posted by SMTA View Post
    That's why God gave us cheaper schools.

    Don't like the cost, don't go to the school.

    Why whine about a conscious decision that you already made?
    Did you read what I said? I said MY DAUGHTER, NOT ME, got scholarships that were not enough to cover the expenses. Get it? Not only that but I said that the LOAN INTEREST RATES WERE TOO HIGH. Get it?

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    Re: Are high student loan interest rates a form of tax on the middle class?

    Quote Originally Posted by MildSteel View Post
    If you had bothered to follow the thread you would note the fact that I said the spread between what the government pays to borrow money and what it is charging student loan customers is too large. Not only that but I said that the purpose of the loans should not be to make profit for the government, but rather to facilitate the educational needs of the citizens on the U.S. If you don't have anything else to do but put forward the lame excuse of collateral, then you are doing the people of this forum a disservice by wasting bandwidth with that stale, broken record, mantra.
    And you've done nothing to demonstrate what the spread should be other than vague references to just enough to cover expenses. Do you even know what the expenses are that government incurs? Perhaps your daughter won't debate you but plenty here will.

    And don't worry about my bandwidth, I've got plenty.

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    Re: Are high student loan interest rates a form of tax on the middle class?

    Quote Originally Posted by MildSteel View Post
    Did you read what I said? I said MY DAUGHTER, NOT ME, got scholarships that were not enough to cover the expenses. Get it? Not only that but I said that the LOAN INTEREST RATES WERE TOO HIGH. Get it?
    You knew the rates before signing the paperwork, but yet you still whine about it?

    SO you elected not to counsel her about the cost of education
    Greatness lies not in being strong, but in the right use of strength - Henry Ward Beecher
    Baby sister, I was born game and I intend to go out that way - Rooster Cogburn

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    Re: Are high student loan interest rates a form of tax on the middle class?

    Quote Originally Posted by AliHajiSheik View Post
    And you've done nothing to demonstrate what the spread should be other than vague references to just enough to cover expenses. Do you even know what the expenses are that government incurs?
    Did you know that there is a report that the government profited $41 billion dollars from student loans? Did you read the thread to find that out? Or did you just jump in and make another stupid post.

    Quote Originally Posted by AliHajiSheik View Post
    Perhaps your daughter won't debate you but plenty here will.
    I sincerely hope they do a better job than you are doing.

    Quote Originally Posted by AliHajiSheik View Post
    And don't worry about my bandwidth, I've got plenty.
    You may have plenty, but your posts are a waste of it.

  9. #119
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    Re: Are high student loan interest rates a form of tax on the middle class?

    Quote Originally Posted by SMTA View Post
    You knew the rates before signing the paperwork, but yet you still whine about it?

    SO you elected not to counsel her about the cost of education
    No, my daughter took out the loan, and she is paying it back. Do you understand that? What I am saying is that the interest rates the she is paying are too high. Do you understand that?

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    Re: Are high student loan interest rates a form of tax on the middle class?

    Quote Originally Posted by MildSteel View Post
    Did you read what I said? I said MY DAUGHTER, NOT ME, got scholarships that were not enough to cover the expenses. Get it? Not only that but I said that the LOAN INTEREST RATES WERE TOO HIGH. Get it?
    So, you elected not to counsel her about the cost of education, the long term effect of interest rates, and did not discuss applying to cheaper schools?

    In other words, you were not involved in her college choice, but decided to now complain about interest rates that you had no involvement with, and you do not have to pay?
    Greatness lies not in being strong, but in the right use of strength - Henry Ward Beecher
    Baby sister, I was born game and I intend to go out that way - Rooster Cogburn

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