The drum beat begins

Discuss various money matters here. Loans (federal and private), scholarships, lottery winnings, or other school finance related information and queries.
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Desert Fox
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The drum beat begins

Postby Desert Fox » Wed Nov 30, 2016 3:38 pm

Last edited by Desert Fox on Wed Nov 30, 2016 4:06 pm, edited 1 time in total.

curry1
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Re: The dumb beat beginnings

Postby curry1 » Wed Nov 30, 2016 4:03 pm

Desert Fox wrote:http://www.wsj.com/articles/u-s-to-forgive-at-least-108-billion-in-student-debt-in-coming-years-1480501802

Check you PiLf



angry boomers with pitchforks in the comments section who don't understand that there are real reasons people go to more expensive/prestigious schools (i.e. to have a chance at actually getting a job), not to brag at parties

AZ123
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Re: The dumb beat beginnings

Postby AZ123 » Wed Nov 30, 2016 4:08 pm

curry1 wrote:
Desert Fox wrote:http://www.wsj.com/articles/u-s-to-forgive-at-least-108-billion-in-student-debt-in-coming-years-1480501802

Check you PiLf



angry boomers with pitchforks in the comments section who don't understand that there are real reasons people go to more expensive/prestigious schools (i.e. to have a chance at actually getting a job), not to brag at parties



Seriously. The comments sections are always filled with stories of boomers saying they worked during college to pay for it, and act like millennials are just super lazy and don't work during school. Today, even working full time during school is not enough to pay for undergrad, let alone law school.

curry1
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Re: The dumb beat beginnings

Postby curry1 » Wed Nov 30, 2016 4:16 pm

AZ123 wrote:
curry1 wrote:
Desert Fox wrote:http://www.wsj.com/articles/u-s-to-forgive-at-least-108-billion-in-student-debt-in-coming-years-1480501802

Check you PiLf



angry boomers with pitchforks in the comments section who don't understand that there are real reasons people go to more expensive/prestigious schools (i.e. to have a chance at actually getting a job), not to brag at parties



Seriously. The comments sections are always filled with stories of boomers saying they worked during college to pay for it, and act like millennials are just super lazy and don't work during school. Today, even working full time during school is not enough to pay for undergrad, let alone law school.



just do pay 50k in tuition + 15-20 k in living expenses per year by working a part-time minimum wage job. Even many good in-state schools for UG like the UCs in-state cost of attendance is listed at ~35k a year, so ~150k over four years assuming you don't get screwed on registration. Also, many/most good jobs are effectively inaccessible to people who don't go to good/great schools, both at the UG and grad levels. https://www.admission.ucla.edu/prospect/budget.htm

cavalier1138
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Re: The drum beat begins

Postby cavalier1138 » Wed Nov 30, 2016 5:14 pm

Back in my day, we created untenable financial crises for the following generation that we would subsequently blame on their perceived laziness. But do you hear us complaining?

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A. Nony Mouse
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Re: The drum beat begins

Postby A. Nony Mouse » Wed Nov 30, 2016 5:19 pm

Foxy's just jealous no one intends to forgive his $300+k debt (or whatever it's at by now).

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Desert Fox
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Re: The drum beat begins

Postby Desert Fox » Wed Nov 30, 2016 5:20 pm

A. Nony Mouse wrote:Foxy's just jealous no one intends to forgive his $300+k debt (or whatever it's at by now).

Mad jealous

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star fox
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Re: The drum beat begins

Postby star fox » Wed Nov 30, 2016 7:55 pm

I'd be cool with making the school that received the money from the student the federal government lent to being put on the hook for the amount of forgiveness.

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bk1
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Re: The drum beat begins

Postby bk1 » Wed Nov 30, 2016 8:10 pm

WSJ wrote:Growing evidence, however, suggests many of the most hard-pressed borrowers—college dropouts who owe less than $10,000—aren’t taking advantage of the programs and instead workers with graduate degrees, including some doctors and lawyers who don’t necessarily need the help, are.

Shots fired.

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bk1
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Re: The drum beat begins

Postby bk1 » Wed Nov 30, 2016 8:13 pm

WSJ wrote:And some borrowers with graduate-school loans are refinancing their debt at lower interest rates with private lenders such as SoFi. Congress, through legislation, has set higher interest rates for grad students than undergrads to ensure the programs don’t lose money. When private lenders pick off those borrowers, the surpluses dwindle.

Future refiers might not even be safe.

curry1
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Re: The drum beat begins

Postby curry1 » Wed Nov 30, 2016 9:34 pm

bk1 wrote:
WSJ wrote:Growing evidence, however, suggests many of the most hard-pressed borrowers—college dropouts who owe less than $10,000—aren’t taking advantage of the programs and instead workers with graduate degrees, including some doctors and lawyers who don’t necessarily need the help, are.

Shots fired.



lol at conflating doctors and lawyers

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Big Red
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Re: The drum beat begins

Postby Big Red » Wed Nov 30, 2016 10:35 pm

star fox wrote:I'd be cool with making the school that received the money from the student the federal government lent to being put on the hook for the amount of forgiveness.


schools have needed skin in the game forever, beyond stupid that we've allowed this incentive structure in higher ed

one of the primary lessons of the financial crash is that you can't let the people who originate loans dump off all the risk

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NCGuy
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Re: The drum beat begins

Postby NCGuy » Thu Dec 01, 2016 8:43 am

https://www.washingtonpost.com/news/gra ... 5691e119ff

It seems more of an attack on the Department of Education than the programs itself. This seems important:

Enzi said at the very least there needs to be greater transparency in the way education officials calculate costs, but his office said he is not calling for any major changes to the repayment plans at the moment.


I can't see a scenario where PAYE and PSLF goes away for current borrowers. Even Obama's PSLF cap only applied to new borrowers.

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brinicolec
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Re: The drum beat begins

Postby brinicolec » Mon Jan 23, 2017 1:56 am

bk1 wrote:
WSJ wrote:Growing evidence, however, suggests many of the most hard-pressed borrowers—college dropouts who owe less than $10,000—aren’t taking advantage of the programs and instead workers with graduate degrees, including some doctors and lawyers who don’t necessarily need the help, are.

Shots fired.


Maybe WSJ needs to write a piece on why doctors and lawyers who would presumably not need the help actually seriously do :roll: lol

ConfusedL1
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Re: The drum beat begins

Postby ConfusedL1 » Tue Jan 24, 2017 10:18 pm

NCGuy wrote:https://www.washingtonpost.com/news/grade-point/wp/2016/11/30/its-going-to-cost-taxpayers-108-billion-to-help-student-loan-borrowers/?utm_term=.275691e119ff

It seems more of an attack on the Department of Education than the programs itself. This seems important:

Enzi said at the very least there needs to be greater transparency in the way education officials calculate costs, but his office said he is not calling for any major changes to the repayment plans at the moment.


I can't see a scenario where PAYE and PSLF goes away for current borrowers. Even Obama's PSLF cap only applied to new borrowers.


Lol. "Even" Obama's plan??? That would be BEST case scenario not worst. We're in worst territory.

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A. Nony Mouse
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Re: The drum beat begins

Postby A. Nony Mouse » Tue Jan 24, 2017 10:22 pm

Because of Trump? He's actually proposed a better income-based plan.

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NCGuy
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Re: The drum beat begins

Postby NCGuy » Tue Jan 24, 2017 11:43 pm

A. Nony Mouse wrote:Because of Trump? He's actually proposed a better income-based plan.


Yeah, Obama's PSLF cap is worse for borrowers than Trump's income based plan.




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