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i hope you touching 6 figures bruh
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My sister is a teacher at IPS and is getting the same deal, she teaches special ed at one of the poverty level schools. Im fairly positive she told me that they are paying 100% of her loans off after 3 years but she has to still work at least 5 years.Originally Posted by ohdannyboy
Antoekneeo summed it up. And like op said, you have to get a teaching credential. Indianapolis Public Schools suck big time, in order to retain quality teachers, they're offering incentives in the form of loan forgiveness. It won't be easy, but the payoff will be worth it. And of course, this doesn't apply to private loans.
Edit: Just figured out what your sn was, ANtoeKNEEo, Antonio. Still second behind mycoldyourdone tho
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I'm gonna be 30k+ deep in debt not including interest next year. I feel you all. In other news, I'm posting this on my HP touchpad.
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How many phone calls a day do you get?
ohdannyboy
Banned
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Originally Posted by INshoeKid
My sister is a teacher at IPS and is getting the same deal, she teaches special ed at one of the poverty level schools. Im fairly positive she told me that they are paying 100% of her loans off after 3 years but she has to still work at least 5 years.Originally Posted by ohdannyboy
Antoekneeo summed it up. And like op said, you have to get a teaching credential. Indianapolis Public Schools suck big time, in order to retain quality teachers, they're offering incentives in the form of loan forgiveness. It won't be easy, but the payoff will be worth it. And of course, this doesn't apply to private loans.
Edit: Just figured out what your sn was, ANtoeKNEEo, Antonio. Still second behind mycoldyourdone tho
I always enjoy seeing posters from Indiana. And good for your sis. How far along is she? Putting in 5 years in IPS is far from easy.
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u relize when u take out a loan its your job to pay it back not the banks job to "work with you" its nt the banks fault that u took out a large amt of money and cant pay it back everybody blames stuff on the bank and talks abt how crappy they are but i bet you werent saying that when they lent u i assume 60k+ in stl (based upon your pymts) there are reasons why they cant just lower your pymt to something like 500 a month, and what do u hope to accomplish by telling them to "eat a d" they will charge it off and go after property and wages/taxes
ohdannyboy
Banned
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Shut up dude.
Banks are treating student loans in the same manner that caused the housing market to crash. To assume that banks are not partially at fault is laughable.
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im paying 900+ a month from sallie mae. over 1000 with other loans added
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Suddenly the 70k I owe doesn't look so bad
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serious response - please explain houw they are the same (i'm ignorant to the situation).
Generally speaking, I am of the same school of thought as kobe4threebang. I pay back what I borrow, and if I dont (for whatever reason, no matter how legitimate) I accept the consequences of not paying back that loan. Even if you make the argument that the banks lent student loan money to students who should not have qualified for it, no one forced the student to take it. Once they agreed to take the loan, the responsibility to pay it back lies with them no matter how ridiculous the terms of the loan are.
Speaking from my own experience. Like every other college student, I was hounded by the credit card signup tables on campus and like many stupid college kids, I took out multiple credit cards. For some ungodly reason, these credit card companies gave a poor college kid like myself a $15K line of credit which I spent on booze, toys, etc... I cant necesarily blame them for giving me the credit line for me to frivolously spend. I can only blame myself for irresponsibly spending it. It was hell crawling out of that debt hole but I was eventually able to do it. I dont blame the CC company for issuing me credit that I probably shouldnt have qualified for.
When it comes to student loans, dont take on what you cant reasonably expect to be able to pay back. My college decision was solely based on finances/student loan amount. I passed on an oportunity to go to a better private school, and instead went to a below average state school because they were offering me a full academic scholarship (well 4 years). I didn't want to be saddled with $100K+ of debt coming out of college and figured it would be easier for me to overcome the difficulties of finding a job with a crappy college degree, than it is to climb out of that $100K+ hole.
I know I'm biased because I work for a lender now and I am on the other side of the table. I work with deadbeat debtors on a daily basis, and they all want to blame everyone else for their financial woes instead of stepping up to the plate and accepting responsibility for it.
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Man, these student loans are just like subprime loans.
Giving away a ton of money to people that can't afford to make the ridiculous payments they're asking for, so their debt keeps increasing.
Sallie Mae
Sallie Mae
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I blogged about this the other day. So glad I'm free from the government's grip as far as student loans go. Good luck to all of you
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Smh everyone feels like they should be entitled to an education from a private university yet they dont want to pay the price. Many public/state universities are a quarter of the price and provide a decent education. As for unfair interest, I agree some people have exorbitant rates although borrowing big amounts from private banks should have been avoided.
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Still $20,000 in debt with $250 bi-weekly payments. I had my loan through a bank, very reasonable with working with me to get it to a reasonable rate.
Once I get a couple credit cards back to $0, I'll probably bump it up to around $400 bi-weekly.
Once I get a couple credit cards back to $0, I'll probably bump it up to around $400 bi-weekly.
ohdannyboy
Banned
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Now I never said that the students borrowing the money weren't at fault also, but what I said was that passing all blame to the students and not holding the lendors somewhat responsible is just wrong.
And you touched on exactly what I meant by comparing it to what happened to the housing market; giving loans to people that don't qualify for them (even if the gov is backing you, that doesn't mean you qualify for it). There needs to be better screening during the loan process. They should better educate an 18 year old on the loan process prior to giving said student thousands of dollars. In the end, the banks will get their money no matter what, so they have zero motivation to better educate students on the loan process. After all, they are in it for the profit.
And according to your post, you didn't have to take out any student loans, correct?
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i been getting federal loans since freshmen year.. now im in my senior year and i need an extra 5g's in private loans...
does anybody have any suggestions??.. see a lot of bad things about salie mae but they seem like the only legitimate ones.. but at 9% interest.. smh
does anybody have any suggestions??.. see a lot of bad things about salie mae but they seem like the only legitimate ones.. but at 9% interest.. smh
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Shut up. Who said that? Public universities have implemented significant tuition hikes in CA (I don't know about other states).
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Anyone have any advice for me?
I'm looking for some sort of financial aid, or federal loans with lower interest rates... but my family doesn't "qualify" for fafsa aid or financial aid from my school because our income is high...
unfortunately our financial situation isn't as simple as simply income... we are pretty strapped right now and I really want to make it easier on my family, but my parents won't let me take out private loans...
Any advice?
can I emancipate myself... what about scholarships?
has anyone had any luck with scholarships.com or fastweb.com?
I'm looking for some sort of financial aid, or federal loans with lower interest rates... but my family doesn't "qualify" for fafsa aid or financial aid from my school because our income is high...
unfortunately our financial situation isn't as simple as simply income... we are pretty strapped right now and I really want to make it easier on my family, but my parents won't let me take out private loans...
Any advice?
can I emancipate myself... what about scholarships?
has anyone had any luck with scholarships.com or fastweb.com?
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I took out a student loan for 1 year because I was a lazy piece of poop who took 5 1/2 years to graduate. I took a student loan out to cover the 5th year and then paid out of pocket for the summer semester to finish up the last credits I needed. Thankfully I graduated back in 2002 when the job market wasnt anywhere near as bad as where it is today and was able to get a job in a timely fashion. I tried to put as much money as I could to payoff my debts and wasnt debt free (well not counting my mortgage) until 7+ years later when I was 29. Definitely wasnt easy.
So back to the responsibility issue. If the bank, as a private for profit enterprise, wants to lend out their money and assume the risk of giving an underqualified applicant a loan, why cant they? (obviously there is a 800lb gorilla variable in the room, govt bailouts of banks and purchasing toxic assets/loan, etc.. etc... but for arguments sake lets say that the bank assumes the risk). The bank will be responsible for the consequences of having a deadbeat debtor who cant or wont pay them back. Any screening of applicants is an internal matter for the bank. If they want to be in a high risk business of lending in the subprime market to unqualified applicants, then they can and should be able to do so.
In this country, it is assumed and understood that once you turn 18 you are an adult and are therefore responsible for your own decisions. The reality is, at 18 you are still young and immature and dont understand the full rammifications of your actions. That being said, its not the responsibility of a lender to educate you to make sure you are making the best decision for yourself. That responsibility falls on your parents, or if you dont have parents, it unfortunately falls on yourself. The bank is going to do whats best for the bank, and you need to do whats best for you. Thats what I tell all of my customers on a daily basis. YOU need to decide whether or not the deal I am offering is good for you and your business. I am offering you the opportunity, but by no means am I forcing you to take it.
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Why is education so expensive in the US? Glad it's free where i live. Though you have to pay for the books.
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what happens when the bubble bursts?
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you can get graduated payments where you pay a lower amount at first and they raise it every few years. or you can extend it out to 25 years, but you end up paying waaaaaaaaaaaaay more in the long run, or every time you get a nice lump sum of money, pay down the principle. that's all i know of. when i tried to consolidate, they told me hell no.
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Glad I'm no alone w/ Sallie Mae breathin down my back. They relentless. Know the economy is messed and have the nerve to ask me if I have the $9k I owe them right now. I laugh at em and I don't answer my phone.
I'm still in school right now so my federal loans are deferred. Since I work in the public service field after10yrs of payments, the rest of my federal loans are forgiven.
IM CAPS LOCKING THIS FOR EMPHASIS. WHATEVER YOU DO, DO NOT CONSOLIDATE YOUR FEDERAL AND PRIVATE LOANS TOGETHER OR YOU WILL NOT, I REPEAT, WILL NOT QUALIFY FOR ANY FEDERAL LOAN FORGIVENESS PROGRAMS.
I'm still in school right now so my federal loans are deferred. Since I work in the public service field after10yrs of payments, the rest of my federal loans are forgiven.
IM CAPS LOCKING THIS FOR EMPHASIS. WHATEVER YOU DO, DO NOT CONSOLIDATE YOUR FEDERAL AND PRIVATE LOANS TOGETHER OR YOU WILL NOT, I REPEAT, WILL NOT QUALIFY FOR ANY FEDERAL LOAN FORGIVENESS PROGRAMS.
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Haven't started paying mine back yet. I will be finished with my BA in a year.
