Article

2019-03-19 Government

White House proposes caps on student loan borrowing

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Posted by Besoeker 2019-03-19 02:49|| || Front Page|| [11136 views ] Top

#1 $30k for an undergraduate degree.

Posted by Uleck Spererong9442 2019-03-19 06:52|| 2019-03-19 06:52|| Front Page Top

#2 Hmmmm....why is the government competing against itself? See - GI Bill

Make the universities and colleges carry a sizable portion of the debt. They might actually want students to graduate with viable skills to pay them back.

Posted by Procopius2k 2019-03-19 07:21|| 2019-03-19 07:21|| Front Page Top

#3 Weighted. For ghey studies degrees, the student should pay the Treasury.

Posted by M. Murcek 2019-03-19 08:09|| 2019-03-19 08:09|| Front Page Top

#4 Twenty percent down, 15 year loan at the current home mortgage rate. Your parent's home is your collateral. Learn early. Have a nice day.

Posted by Besoeker 2019-03-19 08:17|| 2019-03-19 08:17|| Front Page Top

#5 Have the universities absorb it if graduates default. That will stop this scam yesterday.

Posted by gorb 2019-03-19 09:19|| 2019-03-19 09:19|| Front Page Top

#6 @P2K - That would work well at for-profit colleges and, perhaps, privates. But at state schools where most students probably are it would just put state taxpayers on the hook for the tab.

Posted by Chirt White7443 2019-03-19 09:48|| 2019-03-19 09:48|| Front Page Top

#7 ...who might finally wake up and demand a return to the old A&M model (practical application).

Posted by Procopius2k 2019-03-19 10:46|| 2019-03-19 10:46|| Front Page Top

#8 Student loan default and delinquency statistics.

I know of a young woman who borrowed money through the student loan program. She went on to get a Ph.D. and then another in Europe. I was told she had borrowed a total of about $400K. She now has a university job after kicking around for a few years. She pays the minimum of about $10K/year based on her salary. In 40 years she might have it paid off. I know of another person who bought a new Audi with the money while attending school and getting paid as a TA. I know another student who bought a duplex with student loan money and later sold it. There are abuses in the program.

In addition to abuses in the student load program, universities are tied into the Federal government through many programs such as diversity multicultural program requirements, reporting requirements, EPA, OSHA, and many other programs. Moreover, like the government, universities have expanded the bureaucracy in universities significantly. The tie in to Federal programs ramps up the cost of education to the student and drives up the need for loans.

Posted by JohnQC 2019-03-19 11:08|| 2019-03-19 11:08|| Front Page Top

#9 Make the universities and colleges carry a sizable portion of the debt. They might actually want students to graduate with viable skills to pay them back.

I like this idea. But, further, I would require universities to inform students of their projected future earnings based on current statistics for their majors. I mean, with a degree in French literature, what can a student expect in the way of job prospects and earnings as opposed to a degree in engineering? Then tie the loan amount to the earnings potential, an engineering student could then borrow more than a French literature student.

Posted by Abu Uluque 2019-03-19 11:58|| 2019-03-19 11:58|| Front Page Top

#10 Introduce rudimentary economics into the student loan business?...that'll never work because...racism

Posted by Jack Bonaparte7513 2019-03-19 12:37|| 2019-03-19 12:37|| Front Page Top

#11 I feel the best way to fix the issue is make collages have skin in the game and limit available funds.

1) Limit the amount a student can borrow (can be adjusted for degree, school, etc.)

2) If a student finishes a degree, say an engineering 5 year degree, they need to be able to pay off the loan in 10 years at a reasonable payment plan. If the student can't due to no fault of their own, the collage is held financially responsible for the rest. The idea being a degree shouldn't be a lifetime payment plan. If someone can't pay it back in twice the time it took to get the degree, it was overcharged and the collage gets hit with the bill.

The idea back in the 70s is you could pay for what the degree cost in how long it took to get it. 4 year degree, most people could pay it off in 4-5 years. Things need to go back to paying for the degree in the time or double it took to getting it.

Otherwise this is little more than being a debt slave to the state.

Posted by DarthVader 2019-03-19 13:49|| 2019-03-19 13:49|| Front Page Top

#12 Someone I knew realized that he could postpone the onset of loan repayment by... (wait for it!) ...taking more advanced post-grad degree courses. Of course that meant that he would owe more money and the original loan kept appreciating, but he didn't have to pay today!

The system is basically broken.

Posted by magpie 2019-03-19 16:42|| 2019-03-19 16:42|| Front Page Top

#13 ^ Yes. And the concept of politicians floating "loan forgiveness" should be completely shut down.

Posted by M. Murcek 2019-03-19 16:42|| 2019-03-19 16:42|| Front Page Top

#14 ...who might finally wake up ....

It'll never happen. Taxpayers have bought hook, line & sinker into the idea that lavish spending on education equates to the future success of their community, state & (probably) nation. No part of taxpayers subsidizing failed students will have any corrective action.

Posted by Phuling Phort1473 2019-03-19 17:40|| 2019-03-19 17:40|| Front Page Top

#15 The University Student Loan and Payday Loan Scam Bill™

Posted by Frank G 2019-03-19 20:17|| 2019-03-19 20:17|| Front Page Top

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