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Delphi

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Re: Student debt hits One Trillion Dollars
« Reply #15 on: November 08, 2011, 04:02:03 PM »

I believe Peter Schiff was going on and on about Obama's IBR program. I believe it is this one:

Quote
There are also some good opportunities out to consolidate government backed student loans at low rates or apply for a special Income Based Repayment (IBR) program. It won’t forgive your debt but it can lower your payments. You can use the IBR online calculator to see if you are eligible.

Monthly payments in the IBR program will be capped at 15 percent of monthly discretionary income. After 25 years of consistent payments, any remaining debt is forgiven. Hey, it’s only 25 years.

Those who can qualify will never have to repay the loans in full.
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Pilot_MKN

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Re: Student debt hits One Trillion Dollars
« Reply #16 on: November 08, 2011, 04:06:03 PM »

Unfortunately, several of my loans are from Wells Fargo. The Federal Loans aren't a majority of what I owe.
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Turd Ferguson

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Re: Student debt hits One Trillion Dollars
« Reply #17 on: November 08, 2011, 04:12:23 PM »

Monthly payments in the IBR program will be capped at 15 percent of monthly discretionary income. After 25 years of consistent payments, any remaining debt is forgiven.

Just pay some creative accountant to hash it out on paper showing you only have 25 bucks a month in discretionary income.

bada boom, bada bing......problem solved.
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MOE from between St. Joe's River and the railroad tracks

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Re: Student debt hits One Trillion Dollars
« Reply #18 on: November 08, 2011, 05:23:09 PM »

Kids,

DON'T GO TO COLLEGE

Here's what I did in five (yes five) years of college

1. Drink
2. ....
3. Some class
4. Degree. Look how much I learned!

One two three

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Re: Student debt hits One Trillion Dollars
« Reply #19 on: November 09, 2011, 01:30:55 AM »

Kids,

DON'T GO TO COLLEGE

Here's what I did in five (yes five) years of college

1. Drink
2. ....
3. Some class
4. Degree. Look how much I learned!

5 years is average for graduates.  That's pretty much what I did except that I messed around with some girls.  I don't recommend going to a university to anyone unless they already have an associates degree from a community college and want to continue with college.  Well, that is, unless they can get into a university for free.
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freeAgent

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Re: Student debt hits One Trillion Dollars
« Reply #20 on: November 09, 2011, 08:42:39 AM »

My brother is graduating from college this year with a degree in electrical and computer engineering.  He and his friends are having no trouble finding jobs paying $50k-$70k.
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MOE from between St. Joe's River and the railroad tracks

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Re: Student debt hits One Trillion Dollars
« Reply #21 on: November 09, 2011, 10:22:51 AM »

Quote
My brother is graduating from college this year with a degree in electrical and computer engineering.  He and his friends are having no trouble finding jobs paying $50k-$70k.

Most of the jobs I'm looking at in NH don't require a degree. An engineering degree is probably the way to go!

Pilot_MKN

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Re: Student debt hits One Trillion Dollars
« Reply #22 on: November 09, 2011, 10:42:16 AM »

I'm hoping to find a decent paying accounting job in NH or at least one I can commute to in Boston
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sillyperson

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Re: Student debt hits One Trillion Dollars
« Reply #23 on: November 09, 2011, 12:19:12 PM »

Don't lose sight of the opposite end of the spectrum.
I went to school for 5 years at a reasonably-priced state university with in-state tuition. I studied hard, worked my ass off, and got two degrees -- one in Chemical Engineering, the other in Computer Science. Those allowed me to get a really good-paying job a few months after college. I graduated with very little debt (thanks to Mom and Dad, and to working part-time while in school).

Cognitive Dissident

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Re: Student debt hits One Trillion Dollars
« Reply #24 on: November 09, 2011, 12:22:23 PM »

Yup...have to admit, I got my Manufacturing degree at a state school, mostly paid for by tax dollars.  I even got a student loan and used it to permanently pay off credit cards. :-)

I don't recommend the existence of tax-funded schools, though.  I chose it because it worked for me.  Who knows what I would have chosen to do in a free market?  Broken window fallacy, and all that.


existence --> existence OF
« Last Edit: November 09, 2011, 03:01:38 PM by What's the frequency, Kenneth? »
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mikehz

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Re: Student debt hits One Trillion Dollars
« Reply #25 on: November 09, 2011, 01:26:54 PM »

I heard some kid on public radio yesterday bemoaning the fact that she owes lots of money for her degree in…philosophy. What the hell did she think? Was she hoping to cash in on the high demand for philosophers out there in the job market?

If you have a degree in history, art history, literature (mine) or any other of the fuzzy subjects, plan on a career in fast food.
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Pilot_MKN

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Re: Student debt hits One Trillion Dollars
« Reply #26 on: November 09, 2011, 01:47:19 PM »

I heard some kid on public radio yesterday bemoaning the fact that she owes lots of money for her degree in…philosophy. What the hell did she think? Was she hoping to cash in on the high demand for philosophers out there in the job market?

If you have a degree in history, art history, literature (mine) or any other of the fuzzy subjects, plan on a career in fast food.


My best friend got a degree in anthropology.....spent a year looking for a job and ended up at Pet Smart.

What is he doing now? He went back to college for a degree in history!

*Loud Sigh*
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freeAgent

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Re: Student debt hits One Trillion Dollars
« Reply #27 on: November 09, 2011, 05:10:56 PM »

I heard some kid on public radio yesterday bemoaning the fact that she owes lots of money for her degree in…philosophy. What the hell did she think? Was she hoping to cash in on the high demand for philosophers out there in the job market?

If you have a degree in history, art history, literature (mine) or any other of the fuzzy subjects, plan on a career in fast food.


My best friend got a degree in anthropology.....spent a year looking for a job and ended up at Pet Smart.

What is he doing now? He went back to college for a degree in history!

*Loud Sigh*

What an idiot.  Does he plan on paying off his student loan debt...ever?
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MOE from between St. Joe's River and the railroad tracks

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Re: Student debt hits One Trillion Dollars
« Reply #28 on: November 09, 2011, 05:38:06 PM »

Quote
What an idiot.  Does he plan on paying off his student loan debt...ever?

I don't know if this makes him an idiot, he just made a poor choice--kinda like me. Then again, I don't have any debt and I'm getting a degree in business. Maybe he's really passionate about anthropology and history?!  :D :D

Cognitive Dissident

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Re: Student debt hits One Trillion Dollars
« Reply #29 on: November 09, 2011, 06:47:44 PM »

I remember once reading a Playboy interview of Jerry Buss.  He said when he was considering college he walked onto a well-known business school's campus and wandered around the faculty parking lot.  He didn't see upscale cars, so he decided they didn't have anything to teach him.

:-)
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