Wait....I wasn't supposed to pay back my student loan? Why wasn't informed? I wasted thousands!
On Wed, Jun 13, 2012 at 12:49 PM, Cameron Childress <[email protected]>wrote: > > 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:351929 Subscription: http://www.houseoffusion.com/groups/cf-community/subscribe.cfm Unsubscribe: http://www.houseoffusion.com/groups/cf-community/unsubscribe.cfm
