Access to education I can get behind, but in that case why call it a loan? This implies that it will be paid back and that expectation is really what's creating the problem here. People aren't able to pay it back.
If it isnt going to be paid back, and we don't care if it's going to be paid back, why not just give the money straight to the schools? On Jun 13, 2012, at 1:23 PM, GMoney <[email protected]> wrote: > > I guess i disagree. > > I think there SHOULD be access to cheap money, when the aim is education, > and i have NO problem with my tax dollars subsidizing such a thing. In > fact, i can think of little today that would provide a more beneficial > return on my investment, than educating my countrymen. > > On Wed, Jun 13, 2012 at 12:06 PM, Cameron Childress <[email protected]>wrote: > >> >> Wow - what better way to prove the point of the article, which was that the >> problem IS NOT THE RATE. THE PROBLEM IS EASY ACCESS TO THE MONEY. Yet, >> every single response is about the rate. >> >> Misdirection achieved, we are truly doomed to repeat history. >> >> -Cameron >> >> On Wed, Jun 13, 2012 at 11:46 AM, C. Hatton Humphrey <[email protected] >>> wrote: >>> >>>> "Absent congressional action, the interest rates on federally >> subsidized >>>> student loans will double to 6.8 percent on July 1. Both President >> Barack >>>> Obama and former Gov. Mitt Romney have urged Congress to act before >> that >>>> deadline, but no one seems willing to state the obvious: The problem is >>> not >>>> the interest rate but that the federal government subsidizes student >>> loans >>>> at all." >>>> >>>> http://bit.ly/L5993W >>>> >>>> Pop. >>>> >>> >>> Pop quiz: How much of the student loans are impacted by this change in >>> interest rate? >>> Answer: Only Stafford loans that are initiated for the 2012-2013 school >>> year are impacted, previous loans are not impacted. >>> >>> The student loan rates are locked at the time of borrowing. Past loan >>> payment amounts aren't going to be impacted. Furthermore, this does not >>> reflect a "doubling or tripling" of payments. If you look at the >>> amortization schedules >>> $5000 at 3.8% interest over 10 years ( >>> http://www.amortization-calc.com/#loan-5000-10-3.8-6-2012-2) has a >> payment >>> of $50.15 >>> $5000 at 6.8% interest over 10 years ( >>> http://www.amortization-calc.com/#loan-5000-10-6.8-6-2012-2) has a >> payment >>> of $57.54 >>> >>> >>> >> http://www.nytimes.com/2012/05/10/opinion/much-ado-about-students-loans.html?_r=1 >>> has >>> a lot of information about this issue, including the fact that as >> recently >>> as 2007, student loan rates were at 6.7%. >>> >>> While I agree that there's a severe problem with the higher education >> model >>> in this country, I don't think the issue is as much around the interest >>> rate as it is around the structure and concepts associated with the way >>> colleges work, spend and charge students for their products & services. >>> >>> That, however, is a subject for a different conversation. >>> >>> Until Later! >>> C. Hatton Humphrey >>> http://www.eastcoastconservative.com >>> >>> No trees were killed in the sending of this message, but a large number >> of >>> electrons were terribly inconvenienced. >>> >>> >> >> >> > > ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~| Order the Adobe Coldfusion Anthology now! http://www.amazon.com/Adobe-Coldfusion-Anthology/dp/1430272155/?tag=houseoffusion Archive: http://www.houseoffusion.com/groups/cf-community/message.cfm/messageid:351928 Subscription: http://www.houseoffusion.com/groups/cf-community/subscribe.cfm Unsubscribe: http://www.houseoffusion.com/groups/cf-community/unsubscribe.cfm
