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So, the government charges interest on student loans.
So that means the government has only lost about $200 billion on the program when it was supposed to be making money.
We should do the same to the Department of Education employees that is done to the student borrowers that don't pay; reduce their pension by 15% until it is paid back.
https://www.msn.com/en-us/news/politics/department-of-education-miscalculated-student-loan-spending-by-311b-watchdog/ar-AA106edQ?cvid=cdba8762bb2143d798cd0b4fa4c852a0
If that were to happen, people would want the armed services to pay for their weapon program cost overruns.
My son is going to be a senior in high school this year, and he thinks he wants to spend his first two years at the local community college. For a few years now, I've been hearing about a new California Community College program that waives tuition fees for 2 years.
https://lacollegepromise.org/
I just did a few minutes of research and found out about the income limits. The politicians never mention the fine print when they announce these programs. Of course, my kid won't get the tuition waived because his mom and I make too much money, but the fucking "dreamers" get the waiver. No wonder all the taxpayers are leaving this state.
The tuition at a CCC is only about $700 per semester (if you're taking 15 units), but it kinda chaps my hide that it's not available to people who earn enough to actually pay state income tax.
Hi, I don't normally comment, but I want to add my 2 cent. I have twins who went to community college, mostly to save money. My daughter transferred to UC Berkeley to study math, and graduates this December. My son is transferring to UCLA to study physics this fall. They both went to Community College first. Like most things in life, what you get out of it depends on what you put in. It was also Character building for them as most of their friends went straight to four year universities and they had to endure the judgment of people who think that community College is for kids who failed to get in anywhere else.
Hi, I don't normally comment, but I want to add my 2 cent. I have twins who went to community college, mostly to save money. My daughter transferred to UC Berkeley to study math, and graduates this December. My son is transferring to UCLA to study physics this fall. They both went to Community College first. Like most things in life, what you get out of it depends on what you put in. It was also Character building for them as most of their friends went straight to four year universities and they had to endure the judgment of people who think that community College is for kids who failed to get in anywhere else.
Baloo says
Hi, I don't normally comment, but I want to add my 2 cent. I have twins who went to community college, mostly to save money. My daughter transferred to UC Berkeley to study math, and graduates this December. My son is transferring to UCLA to study physics this fall. They both went to Community College first. Like most things in life, what you get out of it depends on what you put in. It was also Character building for them as most of their friends went straight to four year universities and they had to endure the judgment of people who think that community College is for kids who failed to get in anywhere else.
That’s basically our plan for our three kids. Community college is almost free, and there are plenty of online options. They can study and also work at least part time for a couple of years until they’re sure which direction they wanna go. Then get the tra...
In Virginia, you can transfer all CC credits to any Virginia state college if all of your classes are a B or better.
How many people out there bitching about a free $10k to others while government funny money policy enabled your home to double in value? Got something to say about that? Oh, let me guess, you're some type of financial genius. Right?
How many people out there bitching about a free $10k to others
GNL says
How many people out there bitching about a free $10k to others while government funny money policy enabled your home to double in value? Got something to say about that? Oh, let me guess, you're some type of financial genius. Right?
Nope. I got lucky. Definitely not a genius. But as one who put off buying a home because of my own student loan burden, who scrimped and saved a down payment but still sat on the sidelines, priced out during the last bubble, who believes in personal responsibility and accountability, simply eliminating dept dosen't solve the problem. College was barley worth the cost when I was a student and that was for an engineering degree in a historically lucrative field. It's gotten worse since. All we've done is encourage teenagers and early 20 somethings to simply borrow more and worry about how to pay it back later, mostly for an "experince". A...
Remember this? An oldie but a goodie :)
https://www.youtube.com/watch?v=24S-6HXNgNU
GNL says
How many people out there bitching about a free $10k to others
It ain't just that $10k, which is just the start as new gifts will be promised right at election time. That easy money boofed the responsible who saved or worked and borrowed the minimum because the irresponsible borrowers drove up college costs. When my kid started high school in 2014, college costs were about $80k for 4 years. By the time she went to college in 2018, college costs rose to $120k. Delete easy money college loans and the costs would fall to reasonable amounts.
Giving $10k loan forgiveness to people that fucked up isn't that big of a deal.
Only about 13% of students that attend community college complete the program in 2 years.
For students attending public universities, only 33% complete the program in 4 years. 40% never get a degree.
The students simply are not qualified to attend college even for bullshit degrees. They are pushed to attend even though they aren't qualified.
When these dropouts don't make their loan payments on time, the fees and penalties cause the loan balance to balloon.
$10k debt forgiveness comes to about $300 billion. At least this money goes to Americans instead of Afghans or Iraqis.
Besides most of that money just isn't going to be repaid anyways.
How many people out there bitching about a free $10k to others while government funny money policy enabled your home to double in value? Got something to say about that? Oh, let me guess, you're some type of financial genius. Right?
There’s no reason to bitch. It’s beyond our control. All I know is that my siblings and I paid back our students. This country has given us so much. Like it or hate it, it’s still the best country in the world for us. WE LOVE THE USA!
The school loan forgiveness is the ultimate hand picking of winners and losers. Shame on you Democratic party.
Just allow people to BK on the loans. That's the biggest issue in my opinion. No one will lend to 18 year olds anymore and the prices will plummet for school.
The students simply are not qualified to attend college even for bullshit degrees. They are pushed to attend even though they aren't qualified.
And here it is...
https://studentaid.gov/debt-relief-announcement/
I don't know why this gets me so aggravated, we've spent more money on less important stuff, but for some reason this issue hits home with me.
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Another fuck you for people that did the right thing. Wife and I worked while we went to school and paid whatever loans we had off . we didn't travel, party, barrow to pay living expenses. Just sends message put don't pay your bills, just like don't enforce borders, don't work ect ect.