Student loans

[Mik]

I saw that this morning. The comments after were enlightening. They weren't all on that tweet. Mostly about how she makes $170K annually and whines about owing money because she pays the minimum. In other words she wants relief for credit card debt.

[George K]

D2 has a significant amount of student loan. She doesn't earn a congresscritter's salary - by a long shot.

Yeah, crocodile tears.

[George K]

Also, are those federal or private loans?

[LuFins Dad]

@george-k said in Student loans:

Also, are those federal or private loans?

No way they are federal. $31K limit for dependents, $57k for independents…

Grad School has $20K limits per year.

[89th]

@mik said in Student loans:

In other words she wants relief for credit card debt.

Basically! People bought a product/service knowing the terms of their debt. Welcome to the real world. It's not all free.

[Aqua Letifer]

@89th said in Student loans:

@mik said in Student loans:

In other words she wants relief for credit card debt.

Welcome to the real world.

Would that include paying rent?

[89th]

Umm, yes. Sorry if I missed the cross-thread connection...?

[George K]

“I’m 32 years old now,” the congresswoman said. “I have over $17,000 in student loan debt, and I didn’t go to graduate school because I knew that getting another degree would drown me in debt that I would never be able to surpass. This is unacceptable.”

[Doctor Phibes]

[LuFins Dad]

Personally, I am all for Student Loan forgiveness, but it’s just not the right time. In 3.5 years I think we will be ready….

[Jolly]

I think this may be a solution for some:

https://award.mylrap.org/?i=LAC

[xenon]

You can't give unlimited loans on the front-end where schools get into building arms races then jack up prices - while at the same time forgiving them on the back end.

It's just a crazy grovernment subsidy to schools, without any power to control costs. (Reminds me of healthcare)

[LuFins Dad]

@xenon said in Student loans:

You can't give unlimited loans on the front-end where schools get into building arms races then jack up prices - while at the same time forgiving them on the back end.

It's just a crazy grovernment subsidy to schools, without any power to control costs. (Reminds me of healthcare)

I generally agree except I think we should have a one-time forgiveness in May of 2024, possibly a follow up 2 years later, and one more in 2041.

[Copper]

My 4 years of college tuition (45 years ago) wasn't much by today's standards, but I would like to have it back. And it would be nice if you could adjust for inflation.

[Doctor Phibes]

I finished college with 200 GBP more than I started with. It cost my parents about 200 pounds a year, I think (to cover living expenses). Fees were paid automatically, and I got about 2 thousand a year to live on.

[89th]

The only way to stop this madness is to get out of the mentality of the government paying for everything, including paying off loans. Regulation, sure… heck even a requirement to align tuition with the CPI or inflation… but stop this madness already!

[George K]

@89th said in Student loans:

stop this madness already

I wish someone could tell us why college costs so much.

[Copper]

@george-k said in Student loans:

@89th said in Student loans:

stop this madness already

I wish someone could tell us why college costs so much.

That was 11 years ago.

Now it is really, really expensive.

[Horace]

@george-k said in Student loans:

@89th said in Student loans:

stop this madness already

I wish someone could tell us why college costs so much.

"Move along, nothing to see here" in 300 pages. I don't suspect it's aged well, if it was ever meaningful in the first place.

[George K]

I've posted this before, but just to recap.

I grew up in a pretty middle-class family. Mom was a pediatrician (the lowest-paid specialty) and Dad was a lab rat at the U of I Dental School. We were comfortable. but not luxurious.

In 1972, tuition at Northwestern Medical School, for my first year (excluding room & board, books) was $1,875 a year.

Adjusted for inflation -

I imagine few upper-middle class, or middle-class families today couldn't afford $12.5K for MEDICAL SCHOOL.