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Half of college students think their loans will be forgiven
Owing to a serious misconception, almost half of college students recently polled believe they won't be saddled with student loans soon after graduation.

According to a survey of 500 current college students conducted by LendEDU, a private firm that connects students and their families with student loans and loan refinancing, 49.8 percent believe they would be able to receive federal forgiveness on their student loans after graduation.
This fits with almost half of the millennials thinking socialism is awesome
Was that an actual Congress-passed law or one of former President Obama's phone-and-pen specials?
This belief is hardly justified, given the limited circumstances in which these loans can actually be forgiven.

The US Department of Education says that federal direct student loan borrowers can get off the hook if they enter public service jobs for a specified period of time, agree to teach in an underserved area, die or become permanently disabled, or if the school they attended shuts down while they are enrolled or within 120 days after they leave.
And with public service jobs getting fewer and fewer with government cuts, someone better be taking something besides gender studies
"The biggest exemption is the Public Service Loan Forgiveness Program, and very few students go into public service," said Nate Matherson, who co-founded LendEDU in 2014.
Or was it one of those bureacratic edict thingies worked up by the department all by its veryownself?
"With maybe 14 percent of the American workforce in a public service job, the actual numbers of those who may qualify for student loan forgiveness or discharge is maybe below 10 percent.
Possibly less. I seem to recall President Trump ordering a public service hiring freeze for the next four or five years...
"The fact that many students do not understand this means that they may be significantly underestimating the cost of financing a college education," he added.
Gee... I wonder where they got that idea from after growing up under Obumble for 8 years?
Many students polled said they would rely on financial aid to make up the difference in reduced debt load. So while 90 percent knew of FASFA (Free Application for Federal Student Aid), 84 percent did not know the correct filing deadline for the application.

Mark Stephens is financial aid director at Pace University, where the "sticker price" annual tuition is $42,354 for the 2017-18 academic year, a figure that he says is on the average "about 50 percent discounted" through a combination of gift scholarships and other freebies like Pell Grants.
Expect to see forgiveness of student loans to become a major political issue in 8 years. I predict the taxpayers will be on the hook for it.
Posted by: DarthVader 2017-03-02
http://www.rantburg.com/poparticle.php?ID=482400