Student Loan Increases

classyred · Mayor's Aide Joined: 14 Dec 2006 Posts: 68

The recent student loan rate increase is crazy, I am working on my degree and I think that we as a country need to do something about this, because you can not afford not to get the degree due to economics yet you put yourself in debt if you do continue with your degree, it is a double edge sword.

bangfor1 · Mayor's Aide Joined: 21 Oct 2006 Posts: 88

When you finish school you'll definitely land a good job that pays a lot of money and you'll worry about it then. The interest rate won't pass 8.25% or 9% no matter what, which means any college graduate can handle it with ease with the amount of money you make straight out of school. You must have heard 18% to 25% rate loan repayment and if that was the case you deserve to worry.

classyred · Mayor's Aide Joined: 14 Dec 2006 Posts: 68

I hope that is the case anyways, I am currently working on my MBA and would like to go for my doctorates after so i will be in school awhile but i keep receiving all sorts of letters in the mail about rising rates of student loans.

reviewer · Mayor's Aide Joined: 04 Dec 2006 Posts: 145

The problem is that college degrees are becoming less and less valuable. You have to spend tens of thousands of dollars to get a degree that is more or less required in any skilled field. I have seen a lot of $8 or $9 per hour jobs that require degrees!

bangfor1 · Mayor's Aide Joined: 21 Oct 2006 Posts: 88

Those should be entry level jobs for evaluation purpose, because if you consider what goes on, putting a hand on a degree is not difficult when compared to going to school to obtain that degree. But in the real world degrees still command a good salary.

reviewer · Mayor's Aide Joined: 04 Dec 2006 Posts: 145

Do they? It depends on the field. Many, many companies will require degrees for low-paying jobs.

julian4239 · Mayor Joined: 07 Jun 2006 Posts: 211

Actually, there was an article about the worth of College education. Apparently a BA or BS is worth about 23k (per year) more than someone without a college degree. The amount is certainly worth it, even with debt. Over the long run, it will pay for more than itself.

classyred · Mayor's Aide Joined: 14 Dec 2006 Posts: 68

I do agree I have been in sales and marketing for 10 years and have the experience to land any decent sales job however since I want to get a position as a pharmaceutical rep I really need my masters minum to be competitive, because everyone with a bachelors is applying you need something other than just your experience to get you in over the competition, but I do think a lot of Jobs that pay very little do ask for a degree and I think that is plain crazy, but without the degree its harder and harder to move up the latter.

reviewer · Mayor's Aide Joined: 04 Dec 2006 Posts: 145

classyred · Mayor's Aide Joined: 14 Dec 2006 Posts: 68

I really think a lot of depends on what type of field you are into in certain fields you do not even get a shot with the degrees and in others you can start from the bottom and move up, all depends on what you are looking to do, my husband is a great example of this he never want to college but worked his way up the corporate latter and is doing quite well for himself, so i think it all depends.

deportliberals · Congressman Joined: 26 Jan 2007 Posts: 704

The college studen loan programs are one of the most "unamerican" programs the liberals ever invented.

The idea that I(fellow citizens) somehow owe(tax dollars) others money to get a college education is beyond outrageous. Get your college degree on your own time with your own funding or sweat equity but leave me and my wallet out of it.

One of the most abused and fraud-ridden federal programs are the college loan programs...they are just about the worst. Fourteen million punks per year line up at the taxpayer's trough thinking they are owed money from other citizens.

According to the GAO, the default rate is 30% per year and this does not include the fraud factor committed by the various schools, universities, etc.

Looking at the year 1988, the U.S. Attorney's Office collected $201 million dollars from default loans from scumbags who ran out on their obligations to repay the taxpayers.

Hey...Americans...you're not owed anything in this life...get back to your roots and learn some character and take responsibility for your damn selves and stay out of the pockets of your neighbors & fellow citizens!!