I don't like my student loans but I think it is important that I pay them back. I made an investment in myself and I've still got over a decade to go to pay them back but I think that it is also worthwhile.
Overall, I felt like that was a pretty poor article. The author didn't address any of the myriad reasons that college costs have gone up (like falling government support of state schools), seems to be obtusely ignoring the fact that the reason that student loans don't revolve around credit scores and ability to pay is the fact that students don't tend to have reliable credit scores and they have unknown ability to pay...because they are young and haven't had jobs yet. Duh. Author doesn't talk at all about the rise of for-profit schools, the abysmal graduation rate of online schools that seem designed to sucker in people with few job prospects but don't do anything to actually educate them, etc. There are lots of issues around student loans, higher education and what our expectations are, as a country, for post-secondary education in the 21st century. This article seems determined to ignore most of them and instead make false equivalences to the housing situation. Not all wrong, but meh, not very instructive I think. Judah On Wed, Jun 13, 2012 at 10:49 AM, 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:351930 Subscription: http://www.houseoffusion.com/groups/cf-community/subscribe.cfm Unsubscribe: http://www.houseoffusion.com/groups/cf-community/unsubscribe.cfm
