Its official: Student Loan Rates To Double on Monday.

[johnnyredstorm]

Secondary school is a privilege yet it has become a bare necessity to work a non-physical labor job. You're lucky to find an office job or something similar without at least an associates. Sure you can find work without going to college, but for those that don't want to be in construction, or pick up a trade, or be a driver, etc. you can't live well without that so called privilege. Extortion has consumed education and continues to live under the guise of learning.

 

[denni5themenace]

damb, and here i was over the weekend thinking about going back to school to get my masters

 

[mondaynightraw]

Secondary school is a privilege yet it has become a bare necessity to work a non-physical labor job. You're lucky to find an office job or something similar without at least an associates. Sure you can find work without going to college, but for those that don't want to be in construction, or pick up a trade, or be a driver, etc. you can't live well without that so called privilege. Extortion has consumed education and continues to live under the guise of learning.

 

[wr]

What right do you have to tell others how to complete their education. Maybe you should write to your legislators about your issues with ObamaCare instead of wasting time making others feel worse about a situation that is already difficult to begin with.

he forgets that the previous generation has been forced onto the college track.

No Child Left Behind? ever heard of it?

 

[sheistbugz]

So this rate increase applies to every outstanding student loan, or just to ones that are taken out after the rate increase is put into effect?
So if I take a student loan out today instead of next month will I have to pay the 3.4% ?

 

[jdilla14]

Currently paying off a 24k loan, sucks but oh well, **** happens

48K for me, not really tripping about it. know far too many people who are in the 100k range just from undegrad because they decided to go out of state, buffoons..

 

[gllahone84]

Those in the 100k range are probably like **** it..

 

[stillin729]

Those in the 100k range are probably like **** it..

If you get there then that's kind of on the person IMO

You can only borrow $57k in federal stafford loans so if you know you're going hit that and go take out private loans on top of that then you didn't do the research on the school

 

[utvol23]

If you get there then that's kind of on the person IMO

You can only borrow $57k in federal stafford loans so if you know you're going hit that and go take out private loans on top of that then you didn't do the research on the school

You may be talking about undergrad but for med school at least you can borrow 30K for unsub stafford and 8.5K subsidized stafford per year. The rest on top of that have to be private loans or perkins loans or something through the school

 

[airbakin]

A lot of companies offer tuition reimbursement options. My company has a limited cap annually but its better than nothing. I also get a nice tax return back because my company pays me directly and not the school. I am not saying this way is for everyone, but it is another way. Im thankful because without it I wouldnt be able to afford school at all.

 

[veryanalytical85]

See some of this stuff is BS..

I'm already paying up the wazoo for my mistake on not having enough foresight with the abuse a lot of the loan creditors are having with our student loans. In the generation of 90s college graduates, a bachelor's degree meant for opportunities to open doors (regardless if you had the background in that career or not).

Nowadays, the new "bachelor's" is a "master's" and not everyone can afford that especially while they're currently paying their loans (unless im gonna make at least 75-100K in the next 10 years), I'll be paying so many loans I may be forced to choosing whether I want to start or a family or start buying a house and adopting. It's really all sorts of ridiculous.

I'm working three different jobs, doing my own entrepreneurial side work and taking care of an in-home bound grandparent. I'm not entitled by any means (I struggle every month to make the difference).

However how is the country supposed to have any economical growth for the next generation in the next 20-30 years if we can't afford to put investments into buying a home, starting a family a decent age and even investing our salaries into retirement funds, local small business and etc.?

SMDH....

 

[Comparison Ford]

Let's also remember that post-secondary school is a privilege, not a right. If you can't afford it, or cant afford the interest rates on loans then go to work and save money. Too many people feel entitled. There are A LOT of people who complain about student loans and refuse to get a job while attending school. TONS of people work and go to school, and those people don't complain as much.

Everyone has different circumstances.
Is it any wonder young people feel entitled when every high school in America preaches that college is a necessity?
"College is for everyone" that's what they like to say. But the truth is it's not for everyone. Unless you have parents that were very well off or business savvy (and if thats the case they probably saved for you anyway), there's no one to tell a clueless 16-18 year old that ITS A TRAP!!! (word to Admiral Ackbar).

This.  The two mantras that were drilled in my head the most throughout my K-12 years were "you have to go to college nowadays" and "do what you love for a living, don't worry about how much money you'll make."  When you combine the two, it can be a recipe for disaster.  Makes me thankful I chose a career in healthcare. 

 

[gllahone84]

See some of this stuff is BS..

I'm already paying up the wazoo for my mistake on not having enough foresight with the abuse a lot of the loan creditors are having with our student loans. In the generation of 90s college graduates, a bachelor's degree meant for opportunities to open doors (regardless if you had the background in that career or not).

Nowadays, the new "bachelor's" is a "master's" and not everyone can afford that especially while they're currently paying their loans (unless im gonna make at least 75-100K in the next 10 years), I'll be paying so many loans I may be forced to choosing whether I want to start or a family or start buying a house and adopting. It's really all sorts of ridiculous.

I'm working three different jobs, doing my own entrepreneurial side work and taking care of an in-home bound grandparent. I'm not entitled by any means (I struggle every month to make the difference).

However how is the country supposed to have any economical growth for the next generation in the next 20-30 years if we can't afford to put investments into buying a home, starting a family a decent age and even investing our salaries into retirement funds, local small business and etc.?

SMDH....

This. 

 

[moonman818]

This country will be in shambles by 2020

 

[killthehype]

See this is exactly why I didn't let my girl get a loan and we are doing just fine.

It's all about cutting costs and just staying in sometimes.

 

[soleobjective]

swear all these dumb clueless people still gonna stunt with their LOAN refund money.... lol stunt all you want that 6% aint no joke.... gotta get them college yambs somehow

I remember ppl going out and buying new J's a month into the semester when the "refund" checks came in from student loans 

 

[stillin729]

You may be talking about undergrad but for med school at least you can borrow 30K for unsub stafford and 8.5K subsidized stafford per year. The rest on top of that have to be private loans or perkins loans or something through the school

If you complete med school you won't have have problem paying that money back

 

[stillin729]

I remember ppl going out and buying new J's a month into the semester when the "refund" checks came in from student loans 

Yup people ball out with the refunds, it peeves me so bad

I dealt with a kid needing money for summer classes yet he was rocking Yeezy 2's, priorities

 

[xilegacy]

College is bs anyway.

 

[stillin729]

College is bs anyway.

Yeah? Why's that?

 

[utvol23]

If you complete med school you won't have have problem paying that money back

Not always the case! Luckily I did well enough to choose a specialty that I enjoy and pays particularly well, however that is changing for my specialty and many others but lots of people who graduate and go into primary care, pediatrics etc are not making bank. You can go to residency let the interest accrue come out with 300K in debt making around 100k and just now starting to have a family and The minimum loan payments ALONE are a sizeable chunk of your salary. Everybody thinks all these doctors are out here ballin out of control but for some specialties, the ones the govt wants everyone to go into you are way behind the curve with massive amounts of debt and without the salary to really knock it down.

 

[jdilla14]

College is bs anyway.

it is, but essentially without that bs diploma you cannot get those high paying jobs that everyone desires unless you are running your own business or work a manual labor type of job

 

[milestailsprowe]

See this is exactly why I didn't let my girl get a loan and we are doing just fine.

It's all about cutting costs and just staying in sometimes.

Its not always that simple for some households

 

[frankmatthews]

However how is the country supposed to have any economical growth for the next generation in the next 20-30 years if we can't afford to put investments into buying a home, starting a family a decent age and even investing our salaries into retirement funds, local small business and etc.?

SMDH....

It was the cheap, easy money of the past 20-30 years that paid for all the economic growth we've had and allowed your parents to do what all you just mentioned. Someones actually gotta pay for that now. The music has to stop at some point.

What most people don't understand about this whole credit thing is that there always has to be more, every interval needs either more borrowers or higher rates. It's not just greedy lenders and gov't that want to do this, it has to be done, or it fails. Thats why we're ******. We saw the very same thing happen in housing just a few years ago. Adjustable rates and questionable lending practices all in an effort to either increase rates or increase borrowers. Think all this student debt isn't heavy on these banks balance sheets just like the mortgages? The defaults come cause the rates got high and so then the rates get even higher. We just went through this!!

 

[newmoanyuh]

I was thinking about grad school then med school too but now