11–20 of 38 posts
I think student loans should be 0% interest forever.
I think student loans should be 0% interest forever.
Is that possible, certainly, is there enough will from the people of the U.S. to make it a priority to pay an increase in taxes, no.
I think people should be responsible with their choices and that these sort of debts should require a class be taken before you have access to this level of debt.
I think student loans should be 0% interest forever.
I think something like this might be a more reasonable approach than forgiving student loan debt completely. There is little risk to banks servicing federally backed student loans, so interest rates should reflect that. There is a cost to servicing the loan, and banks should be compensated for that, but I don't think student loans should be a large government backed profit center for banks.
0% would just be another handout to those least entitled to deserve one. The average college graduate will make roughly double the lifetime earnings of a high school graduate. Why should high school graduates pay more in taxes to make college loans cheaper for their bosses?
I think student loans should be 0% interest forever.
then all student loans would be be via the government, as why would any financial institution loan the money at 0% even more so now, with the level of default that high? Is that possible, certainly, is there enough will from the people of the U.S. to make it a priority to pay an increase in taxes, no. I think people should be responsible with their choices and that these sort of debts should require a class be taken…
That and the fact that large institutions are paying very little to borrow money nowadays.
So maybe there is an argument for a "wholesale" interest rate.
I thought it is also impossible to default on student loans.
I think student loans should be 0% interest forever.
then all student loans would be be via the government, as why would any financial institution loan the money at 0% even more so now, with the level of default that high? Is that possible, certainly, is there enough will from the people of the U.S. to make it a priority to pay an increase in taxes, no. I think people should be responsible with their choices and that these sort of debts should require a class be taken…
They already are effectively.
Private student loans are for the difference between what the government will loan out at for the tuition/cost of living costs. The government doesn't guarantee them. The problem is you can't discharge private student loans in bankruptcy. So they are personal loans that get special treatment.
I think student loans should be 0% interest forever.
There needs to be a meaningful repayment schedule, though. Otherwise I can run up the debt and never pay it back, thus making it free. Accumulating interest at least keeps you “interested” in paying back sooner than later.
Earlier quoted context omitted.
I think something like this might be a more reasonable approach than forgiving student loan debt completely. There is little risk to banks servicing federally backed student loans, so interest rates should reflect that. There is a cost to servicing the loan, and banks should be compensated for that, but I don't think student loans should be a large government backed profit center for banks.
Yeah... I would even be fine if the govt covered the cost of servicing the loan to keep the interest at 0%.
LOL, I half-expected commenters to rail on how unfair student debt is, and how debt forgiveness would solve problems like this (which it would, but create new ones for generations to come), but I was surprised and pleased that there are others like me who are taking what I think is a more common sense approach. Parents and educators should be teaching young people fiscal responsibility from a young age, so among othe…
The fact that the author wrote this article, journalist going to journo, without recognizing her own culpability in the sitution indicates to me that she really hasn't learned anything which would allow her to 'right the ship'. If anything she is doubling down on the habits that caused her trouble in the first place. If she were a bit wiser she would have written an article advocating for bankruptcy regulations to be…
She's asking for basic fairness for govt backed loans nothing more.
I'm sorry I take issue with these articles written from the perspective of they are a victim. They took $78k in loans to get a degree whose prospective returns were abysmal. They made the choice to defer resolving their debts, and let the interest be added to principal while not making payments. I'm not saying that the system doesn't do everything it should to help people understand. But the contracts they sign for t…
"When I finished school in 2007 — with an undergraduate degree in biology and a master’s in science journalism — I owed $78,060 in federal loans." According to [1] the current avg salary for a journalist is approx. $41K. Assuming some inflation since the author graduated the author accrued 2 to 3 times her expected yearly salary in debt to get her 'dream job'. I think the root of her problem was she had no education…