Gotcow?

The one thig from the Democrat debates I agree with.

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I believe it was Buttigieg that said if you can refinance your home mortgage you should be able to refinance your student loan debt.

 

Beyond that it was all a bunch of crap.

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7 mins ago, Gotcow? said:

I believe it was Buttigieg that said if you can refinance your home mortgage you should be able to refinance your student loan debt.

 

Beyond that it was all a bunch of crap.

The thing is, if you have any brains, you already can..........unless of course your credit rating is 27.5 cause you are a deadbeat.

 

;)

 

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 Sorry, I think your promise is false.

 

Student loans, particularly those issued by the government affect by the government, are available at interest rates well below what the private sector would charge. Back when I had both government supported loans and private market loans interest rate on the prime it was at least half again as high as it was on the government loans. 

 

 It’s not the interest portion of the monthly payments that is hurting those that are in deep debt, it’s just the sheer amount of principle that they have to deal with. 

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What is the current going student loan interest rate anyway? I have no clue.

 

But I think I may laugh and say stop your whining when I see what it is........

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Never mind I just looked and see that about 5%

 

So I still say stop your whining, mine was 7.5% and I paid it off (on time every month) myself with no help from anyone but my working hands........

 

What a bunch of whiners!

 

 Perhaps you should take something other than Early European Art or the "catch alls" of Liberal Arts or Business Administration.........(liberal arts, the stuff you should have learned in high school but since it was free, you just screwed off thru, and then Business Admin is those that slept through algebra class.....................) And then you whine cause you aren't handed a six figure job the day you graduate.......

 

:dismay:

 

(Discoverers the "you"s are generic "you"s, not directed at anyone in particular.)

 

 

 

 

 

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To be honest, I went to UCONN and took out $2500/yr. for 4 years, worked summers as a painter and worked part time during the school year.

My parents paid nothing.

I came out owing 10k, with 10 years to pay it off.

 

Now, I know it was a long time ago, but I doubt even adjusted for inflation, that you could do that now? 

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In this country, there are, legally speaking, only three debts that cannot be discharged by Chapter 7 bankruptcy: taxes, child support, and Sallie Mae.

 

Here's an honest question: is there anyone out there who supports this? Is there any reason why a borrower should be able to stiff a private bank by going bankrupt, but not stiff Sallie Mae?

 

I'll hang up and listen to the answer. :wave:

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2 hours ago, Belmo said:

In this country, there are, legally speaking, only three debts that cannot be discharged by Chapter 7 bankruptcy: taxes, child support, and Sallie Mae.

 

Here's an honest question: is there anyone out there who supports this? Is there any reason why a borrower should be able to stiff a private bank by going bankrupt, but not stiff Sallie Mae?

 

I'll hang up and listen to the answer. :wave:

 

 

Screwing over Sallie Mae breaks rule #1*.

 

 

* Rule #1 reads, in full, Thou shall NOT **** with government revenue and credit.

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1 min ago, dena said:

 

 

Screwing over Sallie Mae breaks rule #1*.

 

 

* Rule #1 reads, in full, Thou shall NOT **** with government revenue and credit.

Two followup questions:

  1. Why Sallie Mae, and not Fannie or Freddie?
  2. If Sallie Mae is a private corporation, as they say they are, then what does anything about them have to do with government credit? 

I'll hang up and listen to the answers. :wave:

 

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2 hours ago, Steve in Mass said:

Never mind I just looked and see that about 5%

 

So I still say stop your whining, mine was 7.5% and I paid it off (on time every month) myself with no help from anyone but my working hands........

 

What a bunch of whiners!

 

 Perhaps you should take something other than Early European Art or the "catch alls" of Liberal Arts or Business Administration.........(liberal arts, the stuff you should have learned in high school but since it was free, you just screwed off thru, and then Business Admin is those that slept through algebra class.....................) And then you whine cause you aren't handed a six figure job the day you graduate.......

 

:dismay:

 

(Discoverers the "you"s are generic "you"s, not directed at anyone in particular.)

 

 

 

 

 

On a certain level I agree.

 

That said, todays HS graduate finds that a 4 year degree costs double what I paid for 35 years ago with less grants and more loans.

 

And yes I adjusted for inflation.

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9 mins ago, Belmo said:

Two followup questions:

  1. Why Sallie Mae, and not Fannie or Freddie?
  2. If Sallie Mae is a private corporation, as they say they are, then what does anything about them have to do with government credit? 

I'll hang up and listen to the answers. :wave:

 

See Rule# 1.

They are government backed loans, otherwise no smart banker would loan 6 figures to someone on a promise of future earnings with no tangible collateral. It isn't like the bank can go repossess the education, like a house, or car. So they attach it to you for life.

I question how many adults, at that young age, realize exactly they are getting in to. I mean, do they realize the impact of being several hundred dollars a month in the hole before you get to keep their first earned dollar?

I blame a lack of guidance from parents.

 

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