~* Make America Great Depression Again -- Official Thread of Corona Virus infected markets *~

[MarSolo]

I’m SOL regardless because my student loans are private. I think I have MAYBE five grand in federal.

[Joe]

6 minutes ago, MarSolo said:

I’m SOL regardless because my student loans are private. I think I have MAYBE five grand in federal.

 

For some reason, I didn't realize that this only applied to federal loans even though it's sort of common sense.

[Brian]

[Uaarkson]

what about student loans you defaulted on for 12 years straight and then recommitted to at the last second?

[b_m_b_m_b_m]

 

 

[SuperSpreader]

Who is the parliamentarian what is this is the first I hear about this 

[b_m_b_m_b_m]

24 minutes ago, SuperSpreader said:

Who is the parliamentarian what is this is the first I hear about this 

Senate ref. 

[CastlevaniaNut18]

I literally don't remember shit about my student loans, except they got paid off the year after I graduated. We had ~$30k total, $7500 of which was mine from my last year, after my scholarships had completed. 

I think it was a Sallie Mae loan? No idea on the interest. 

 

I'd be down with removing or greatly reducing the interest permanently, that seems to be what kills people. I wonder what the interest is like nowadays. 

[Anathema-]

10k forgiveness and canceling interest sounds great and sounds like it would serve the vast majority. I think the cosplay socialists who leech off Bernie's ass tend to have big student loan amounts and are really the ones agitating for more. Making community College free or nearly free would help a lot more than forgiving an extra 40k off loans on top of forgiving the interest.

[SuperSpreader]

3 hours ago, Anathema- said:

10k forgiveness and canceling interest sounds great and sounds like it would serve the vast majority. I think the cosplay socialists who leech off Bernie's ass tend to have big student loan amounts and are really the ones agitating for more. Making community College free or nearly free would help a lot more than forgiving an extra 40k off loans on top of forgiving the interest.

I'll take the interest cancellation over the 50k forgiveness! Should be on private loans as well!

[Jason]

4 hours ago, Anathema- said:

10k forgiveness and canceling interest sounds great and sounds like it would serve the vast majority. I think the cosplay socialists who leech off Bernie's ass tend to have big student loan amounts and are really the ones agitating for more. Making community College free or nearly free would help a lot more than forgiving an extra 40k off loans on top of forgiving the interest.

 

Ms. Tanden, please show us on this doll where Bernie touched you. 

[stepee]

43 minutes ago, Jason said:

 

Ms. Tanden, please show us on this doll where Bernie touched you. 

 

 

 

here

[outsida]

5 hours ago, Anathema- said:

10k forgiveness and canceling interest sounds great and sounds like it would serve the vast majority. I think the cosplay socialists who leech off Bernie's ass tend to have big student loan amounts and are really the ones agitating for more. Making community College free or nearly free would help a lot more than forgiving an extra 40k off loans on top of forgiving the interest.

I literally laughed out loud when Biden told that lady he wouldn’t make $50k loan forgiveness happen. $50k is excessive. 

[Chris-]

Sorkin Democrats are the absolute worst. 

[Joe]

1 hour ago, outsida said:

I literally laughed out loud when Biden told that lady he wouldn’t make $50k loan forgiveness happen. $50k is excessive. 

 

Tell me you don't have crippling student loan debt without telling me you don't have crippling student loan debt.

[b_m_b_m_b_m]

The democratic party is so fucking stupid. Openly align the party along educational attainment then committing itself to not making it as easy as possible to pay for higher and higher education. 

 

Erase the debt history and make higher education free for public community college and universities (actually pay students a stipend while attending but that's neither here nor there).

 

And loan forgiveness after 20+ years or through PSLF or some other mechanism is just stupid as fuck policy. Student debt balances are in aggregate increasing with time. This money *will not* be paid back, and it's cruel to keep people locked in debt for most of their working lives

 

Note: of the federal debt my family still owes it's less than 10k so we'll be fully covered by Biden's modest forgiveness amount. It's just a bandaid on a bullet wound, and dogshit policy to boot.

 

7 hours ago, Anathema- said:

Making community College free or nearly free would help a lot more than forgiving an extra 40k off loans on top of forgiving the interest

(There's far more people with debt above 15k than below 15k even if you exclude *everyone* with balances over 75k debt, and as always, why not both?)

[Chris-]

Not to mention the misguided idea that 1%ers let their children rack up massive student loan debt to begin with as opposed to, you know, paying it. Warren Buffet’s grandchildren never filled out a FAFSA form. Building a barn around a needle. 

[b_m_b_m_b_m]

11 hours ago, CastlevaniaNut18 said:

I literally don't remember shit about my student loans, except they got paid off the year after I graduated. We had ~$30k total, $7500 of which was mine from my last year, after my scholarships had completed. 

I think it was a Sallie Mae loan? No idea on the interest. 

 

I'd be down with removing or greatly reducing the interest permanently, that seems to be what kills people. I wonder what the interest is like nowadays. 

2.75-5.3% depending on the type of loan.

[MarSolo]

28 minutes ago, Chris- said:

Sorkin Democrats are the absolute worst. 

Everytime I watch a clip of something by Sorkin I cringe.

[CastlevaniaNut18]

2 hours ago, b_m_b_m_b_m said:

2.75-5.3% depending on the type of loan.

I’m having this discussion in another group where some people are saying theirs is more like 7%. 
 

one person told me her two kids college was like $600k. I can’t help but this that’s bullshit?

[Jason]

2 minutes ago, CastlevaniaNut18 said:

I’m having this discussion in another group where some people are saying theirs is more like 7%. 
 

one person told me her two kids college was like $600k. I can’t help but this that’s bullshit?

 

That's more than believable if that includes room and board at an expensive school.

[CastlevaniaNut18]

1 minute ago, Jason said:

 

That's more than believable if that includes room and board at an expensive school.

I’m pretty sure she was claiming it was a Michigan state school. They were out of state. 
 

I also think it’s dumb to rack up even more debt going to a school you can’t afford. 

[Commissar SFLUFAN]

2 hours ago, Chris- said:

Sorkin Democrats are the absolute worst. 

 

2 hours ago, MarSolo said:

Everytime I watch a clip of something by Sorkin I cringe.

 

Boy, do I have a podcast for you guys!

 

The West Wing Thing

[b_m_b_m_b_m]

1 hour ago, CastlevaniaNut18 said:

I’m having this discussion in another group where some people are saying theirs is more like 7%. 
 

one person told me her two kids college was like $600k. I can’t help but this that’s bullshit?

Rates are set by congress and these are the current rates. They might have private loans from before 2010(iirc) too.

 

Out of state is just a dumb decision but that makes sense. University of Michigan Ann Arbor is 66k+ for undergraduate out of state which for UM I could almost understand, it's a phenomenal school. But MSU isn't nearly as good a school and is still 50k/year out of state.

[CastlevaniaNut18]

54 minutes ago, b_m_b_m_b_m said:

Rates are set by congress and these are the current rates. They might have private loans from before 2010(iirc) too.

 

Out of state is just a dumb decision but that makes sense. University of Michigan Ann Arbor is 66k+ for undergraduate out of state which for UM I could almost understand, it's a phenomenal school. But MSU isn't nearly as good a school and is still 50k/year out of state.

That just seems dumb to pay that much, unless you come from a rich family or have a scholarship that covers the vast majority of that cost.

 

I really don't think for most people, it matters where you get your degree. I can go be a nurse anywhere in the country with my BSN from ASU. My husband's best friend went to friggin' South Arkansas University in the big town of Magnolia on full scholarship because he was smart as hell and I guess wanted to stay close to home for a while. Graduated with degrees in Math and Computer Science, went to for at Walmart corporate for six figures, left there, got another high paying job that got bought out by Apple, worked for Apple for a couple years, then Reddit, now AirBnB and he's has a net worth of a few million, including Bitcoin, and he's only 34. All college is expensive, but it makes sense to go where you can afford the best.

[Greatoneshere]

I like Sorkin's films but Sorkin Democrats truly are the worst, no question. Faux liberals, the lot of them.

 

Also, cancel student loan debt. This is ridiculous, and we all know it. I went to college, law school, and graduate business school, it's a bunch of bullshit. I'm fortunate to have had enough money to pay it all off, but I see my classmates struggling just to learn shit and it's BS. I'm sorry, it's fucked up, end of story. Burdening the youth of our country for wanting to learn and be better is ridiculous. I'm not saying college should be free but the interest is fucking punitive. I can't believe we're having a discussion that even can partly justify this. I wanted Bernie but Biden has surprised me so far but his take on this is weak as fuck.

[CastlevaniaNut18]

12 minutes ago, Greatoneshere said:

I like Sorkin's films but Sorkin Democrats truly are the worst, no question. Faux liberals, the lot of them.

 

Also, cancel student loan debt. This is ridiculous, and we all know it. I went to college, law school, and graduate business school, it's a bunch of bullshit. I'm fortunate to have had enough money to pay it all off, but I see my classmates struggling just to learn shit and it's BS. I'm sorry, it's fucked up, end of story. Burdening the youth of our country for wanting to learn and be better is ridiculous. I'm not saying college should be free but the interest is fucking punitive. I can't believe we're having a discussion that even can partly justify this. I wanted Bernie but Biden has surprised me so far but his take on this is weak as fuck.

So which is it? College shouldn't be free, but cancel debt? That's why I say get rid of the interest or at least knock it down to 1% or something and don't let it start accruing while you're in college. And cancel debt if you've already paid the amount on your actual loan, but still owe thousands more due to the ridiculous interest. I saw someone say something like they took out a $9k loan, paid $16k, still owed $13k. Or something like that. That's insane.

 

But we all know canceling all debt will never happen. The system does need some heavy reworking, though.

[Greatoneshere]

37 minutes ago, CastlevaniaNut18 said:

So which is it? College shouldn't be free, but cancel debt? That's why I say get rid of the interest or at least knock it down to 1% or something and don't let it start accruing while you're in college. And cancel debt if you've already paid the amount on your actual loan, but still owe thousands more due to the ridiculous interest. I saw someone say something like they took out a $9k loan, paid $16k, still owed $13k. Or something like that. That's insane.

 

But we all know canceling all debt will never happen. The system does need some heavy reworking, though.

 

I think you hit the nail on the head. I think a good compromise would be ending the high levels of interest. 

[CastlevaniaNut18]

3 minutes ago, Greatoneshere said:

 

I think you hit the nail on the head. I think a good compromise would be ending the high levels of interest. 

I also want to see more emphasis on community college. Not everyone has to go to a four year university. 
 

It was largely due to my own laziness in high school and not taking the ACT until the last minute, but I started out at a local community college because they gave me a full two year scholarship. I got my basics out of the way, got good grades, and transferred to university on a scholarship for my nursing degree. I also lived with my parents to save money and commuted the half hour. They never gave a dime to my college education. 
 

I’d love to see two year community colleges be free. It’d go along way. 

[b_m_b_m_b_m]

1 hour ago, CastlevaniaNut18 said:

That just seems dumb to pay that much, unless you come from a rich family or have a scholarship that covers the vast majority of that cost.

 

I really don't think for most people, it matters where you get your degree. I can go be a nurse anywhere in the country with my BSN from ASU. My husband's best friend went to friggin' South Arkansas University in the big town of Magnolia on full scholarship because he was smart as hell and I guess wanted to stay close to home for a while. Graduated with degrees in Math and Computer Science, went to for at Walmart corporate for six figures, left there, got another high paying job that got bought out by Apple, worked for Apple for a couple years, then Reddit, now AirBnB and he's has a net worth of a few million, including Bitcoin, and he's only 34. All college is expensive, but it makes sense to go where you can afford the best.

Unless you have a degree from brand name college or plan on going into graduate school for a specific field that one school does really well it doesn't really matter for the most part after you have some experience. It can affect where you end up living after you graduate though.

 

The most cost effective school situation varies from person to person, but the stupid system we have in place now just isn't it. Like it's great that your husband's friend got a good scholarship, but not everyone can be so smart and happen to major in (and graduate with) the right type of degree at the right time. Everyone should get that same type of help.

[CastlevaniaNut18]

Well, wasn't that what I was saying? The place you get a degree from doesn't matter a ton for most people?

[b_m_b_m_b_m]

13 minutes ago, CastlevaniaNut18 said:

Well, wasn't that what I was saying? The place you get a degree from doesn't matter a ton for most people?

Yeah I'm not disagreeing there on that point, but the cost of university and even community colleges is so high that the difference may not matter. When you are talking tens of thousands of dollars a year vs a couple fewer tens of thousands of dollars per year(if available!) Then why not go for the "experience" even if it is marginally cheaper?

[Guest]

Looking at the undergrad lath I took, it’s currently around $4k for the community college part, and $21k for the university part. I am always shocked that people go to out of state or private schools without grants or scholarships to majorly offset the price.

[CastlevaniaNut18]

33 minutes ago, b_m_b_m_b_m said:

Yeah I'm not disagreeing there on that point, but the cost of university and even community colleges is so high that the difference may not matter. When you are talking tens of thousands of dollars a year vs a couple fewer tens of thousands of dollars per year(if available!) Then why not go for the "experience" even if it is marginally cheaper?

Marginally? $17k for in-state U of M vs $54K out of state isn't marginal. Just look at sbl's post on the difference between CC vs Uni.

[b_m_b_m_b_m]

20 minutes ago, CastlevaniaNut18 said:

Marginally? $17k for in-state U of M vs $54K out of state isn't marginal. Just look at sbl's post on the difference between CC vs Uni.

More comparing instate cc to instate uni. I know in my case the nearest cc was an hour away so it was nearly the same cost to live in a dorm at my university than to live at home and commute or move closer to the cc (not that living at home was really an option). Maybe marginally cheaper but not so much to make the time wasted worth it. But I was poor and smart so I got a decent but not great scholarship, so still needed significant loans and grants.

 

There's no way I'd ever argue that out of state is worth it under current circumstances