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Author Topic: Student Loan Reform  (Read 970 times)

Offline LaylaMonroe

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Student Loan Reform
« on: June 21, 2012, 04:10:46 PM »
Any thoughts on this? Have we ever discussed this? I can't remember, but I just saw this tweet and nearly about passed out.

“In just over a week, the interest rate on federal student loans is scheduled to double.”—President Obama

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blyempowered

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Re: Student Loan Reform
« Reply #1 on: June 21, 2012, 04:20:08 PM »
I've proposed the idea that the grace period of paying student loans should go from 6 months to 1 year.
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Offline LaylaMonroe

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Re: Student Loan Reform
« Reply #2 on: June 21, 2012, 04:29:29 PM »
I would agree with that, only if they haven't yet found full-time employment. I think the repayment grace period should be "12 months or until you find a job, whichever comes first."

I also think they need to get a grip on these interest rates (one stat I read said that a student who borrows $300,000 for law school will end up repaying $562k on it).

I also think there should be some sort of education, like a mandatory seminar, for college bound kids so they will really understand what student loans are about.

I don't think students should be allowed to borrow more than they need for tuition, fees and room & board.
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Offline Mysteryman

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Re: Student Loan Reform
« Reply #3 on: June 21, 2012, 04:33:38 PM »
I better hurry up and get them fixed I guess. Some how the rest of my loans are variable rate. I guess I wasnt as informed back then.
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Offline Mysteryman

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Re: Student Loan Reform
« Reply #4 on: June 21, 2012, 04:49:13 PM »
I wonder if large numbers of students will start going to more technical colleges because of this or schools with a lower tuition or even just bite the bullet and pay.
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Offline sjonathan02

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Re: Student Loan Reform
« Reply #5 on: June 21, 2012, 04:54:59 PM »
This isn't going to work for the RTTT initiative.  Folks already can't afford many of life's necessities, what makes anyone thing that doubling the interest rate for college will push people to attend college unless they can pay for it out of pocket?  ?/?


It seems like the government is cutting off its nose to spite its face.  :-\
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Offline Mysteryman

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Re: Student Loan Reform
« Reply #6 on: June 21, 2012, 04:58:14 PM »
In the midst of this, Obama sure knows how to get re-elected. lol
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Offline under13

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Re: Student Loan Reform
« Reply #7 on: June 21, 2012, 06:27:15 PM »
Solution: Go to a college you can afford, and pay cash.

Or have a national boycott from college and see how fast the rates go back to normal. lol
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Offline LaylaMonroe

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Re: Student Loan Reform
« Reply #8 on: June 22, 2012, 10:53:51 AM »
Quote from: under13 on June 21, 2012, 06:27:15 PM
Solution: Go to a college you can afford, and pay cash.

Or have a national boycott from college and see how fast the rates go back to normal. lol

Neither of those are reasonable solutions.

Quote from: sjonathan02 on June 21, 2012, 04:54:59 PM
This isn't going to work for the RTTT initiative.  Folks already can't afford many of life's necessities, what makes anyone thing that doubling the interest rate for college will push people to attend college unless they can pay for it out of pocket?  ?/?


It seems like the government is cutting off its nose to spite its face.  :-\

I had to google the RTTT because I didn't remember what it was.

Can you explain how this will affect the RTTT initiative? I don't get it.
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Offline sjonathan02

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Re: Student Loan Reform
« Reply #9 on: June 22, 2012, 11:01:52 AM »
Quote from: LaylaMonroe on June 22, 2012, 10:53:51 AM
Neither of those are reasonable solutions.

I had to google the RTTT because I didn't remember what it was.

Can you explain how this will affect the RTTT initiative? I don't get it.

Simply, you can't ask people to gear up, academically, to attend college then turn around and tell the very same people that it'll cost them, literally, an arm and a leg should they decide to take out a student loan to pay for said college. 

THAT'S not a reasonable solution, either. :-\
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Offline LaylaMonroe

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Re: Student Loan Reform
« Reply #10 on: June 22, 2012, 11:06:27 AM »
Quote from: sjonathan02 on June 22, 2012, 11:01:52 AM
Simply, you can't ask people to gear up, academically, to attend college then turn around and tell the very same people that it'll cost them, literally, an arm and a leg should they decide to take out a student loan to pay for said college. 

THAT'S not a reasonable solution, either. :-\

Ahhhh I see. Yeah, good point. Agreed.
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Offline Docdb04

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Re: Student Loan Reform
« Reply #11 on: June 22, 2012, 12:26:44 PM »
If there was a way for Congress to push companies to have mandatory tuition reimbursement programs.  Instead of doubling these CEO salaries and all this excess, they need to reinvest the money into tuition reimbursement.  There is so much money being poured into areas, which really can do without.     
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Offline under13

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Re: Student Loan Reform
« Reply #12 on: June 22, 2012, 01:17:58 PM »
Quote from: Docdb04 on June 22, 2012, 12:26:44 PM
If there was a way for Congress to push companies to have mandatory tuition reimbursement programs.  Instead of doubling these CEO salaries and all this excess, they need to reinvest the money into tuition reimbursement.  There is so much money being poured into areas, which really can do without.     

How about no! :D
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Offline under13

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Re: Student Loan Reform
« Reply #13 on: June 22, 2012, 01:52:14 PM »
How much will this affect student's monthly payment? When did the current rate reduction take place? What was it before the reduction? It's not as big a deal as they are making it out to be. This will not stop anybody from affording a college education.
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Offline phbrown

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Re: Student Loan Reform
« Reply #14 on: June 22, 2012, 09:30:35 PM »
solution:

China to Cancel College Majors That Don’t Pay

its that simple


Quote
China’s Ministry of Education announced this week plans to phase out majors producing unemployable graduates, according to state-run media Xinhua. The government will soon start evaluating college majors by their employment rates, downsizing or cutting those studies in which the employment rate for graduates falls below 60% for two consecutive years.
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Offline under13

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Re: Student Loan Reform
« Reply #15 on: June 22, 2012, 10:01:49 PM »
Sounds like they are saying that college is more about job training than education.
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Offline phbrown

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Re: Student Loan Reform
« Reply #16 on: June 23, 2012, 12:04:51 AM »
Quote from: under13 on June 22, 2012, 10:01:49 PM
Sounds like they are saying that college is more about job training than education.

thats why i went to college to get some basic knowledge to go get a job

education as a whole is over rated
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