Student Loan Interest rates are they "Criminal?"

[Hobie]

problem is they give you more than you need and you cant say no if you want ANY money at all

my student loans are 6.8 percent and last semester i only needed $1270 grand total but i had to take 1700 or nothing . Way it was explaind to me is that s the increments they have take it or leave it

Private or Federal? When I was in school as a Freshman or Sophomore Federal loans were only enough to cover roughly half the cost for state school tuition here in Texas. Junior/Senior level was *just* enough.

You could reject any amount of the loans as well as they often reminded me.

Historically when Democrats are president Federal Student Loans become much more favorable to the borrower, but did the Obama admin. fuck this up too?

[Hobie]

Unless you want your wages garnered, you'd better. Uncle Barry now has control of ALL student loans. It's no longer a competitive rate, and he WILL get his 7.9%.
There's a reason he is pushing for ALL people to go to college: so everyone will owe the government...double of what should be the going rate. The next thing you know, he'll want vigorish.

If I was to guess why presidents want everyone to graduate from college it's for two primary reasons.

The more college grads a society has the more competitive/successful that society becomes on a world stage. Which plays into the second benefit, the more college grads you have the more potential there is for your society to have more citizens earning higher wages thus paying more money in taxes to the government. Of course there are other positives, but I'm thinking these are the two primary benefits a leader is seeking from an educated populace.

Either that or Obama is entrapping Americans to get a degree so he can pocket the "whopping" 7.9% on an unsecured loan.

[Sean88gt]

Re-enroll in school. Take some classes that you can pay cash for. Repeat for 20 years and seek to have the debt forgiven.

Send me 15% for solid advice.

[SMEGMA STENCH]

And you can't send the overage as a lump payment to principal? Fucking idiot.

did that been doing it for years now fucking idiot im talking about all the people who have no self control

think before you open your mouth bitch

youre like the resident retard i see......hello ignore list!!!!!!!

[32vfromhell]

The real problem is trying to de-couple 1) a much needed rise in pell grants with 2) universities seeing it as an opportunity to raise tuition. I am leery of regulation through finances, but i do like the idea of decreasing funding on universities that raise rates too high. A bill focusing on that is being talked about.

Both universities and the health care system have such outrageous pricing.

[Vertnut]

If I was to guess why presidents want everyone to graduate from college it's for two primary reasons.

The more college grads a society has the more competitive/successful that society becomes on a world stage. Which plays into the second benefit, the more college grads you have the more potential there is for your society to have more citizens earning higher wages thus paying more money in taxes to the government. Of course there are other positives, but I'm thinking these are the two primary benefits a leader is seeking from an educated populace.

Either that or Obama is entrapping Americans to get a degree so he can pocket the "whopping" 7.9% on an unsecured loan.

He wants all of us to be "indoctrinated" by the liberal prof's in all the colleges. THAT'S why he wants everyone in college. It's a brain-washing process that's already in place. He just needs to be sure that EVERYONE gets there to hear it. It's the reason public schools can't fail anyone and everyone should be entitled to a college education.

[Hobie]

He wants all of us to be "indoctrinated" by the liberal prof's in all the colleges. THAT'S why he wants everyone in college. It's a brain-washing process that's already in place. He just needs to be sure that EVERYONE gets there to hear it. It's the reason public schools can't fail anyone and everyone should be entitled to a college education.

Yeah, colleges are for liberal indoctrination, Obama is the first president to push for higher education, education is bad, makes total sense, not batshit nuts at all!

Or is my sarcasm detector broken? Not sure if serious, this can't be serious, can it? LOL

[svauto-erotic855]

If you pay off the loan today it will not matter what the interest rate is.

Stop borrowing money period. I made it through college with no help from my parents, grants, or student loans. If I can do it so can you; there is nothing special about me so it couldn't be all that hard.

[Vertnut]

Yeah, colleges are for liberal indoctrination, Obama is the first president to push for higher education, education is bad, makes total sense, not batshit nuts at all!

Or is my sarcasm detector broken? Not sure if serious, this can't be serious, can it? LOL

I'm about as serious as you are. But...not everyone should be "entitled" to go to college.

[sc281]

It's 7.9% fixed. At some point over the term of that loan, 7.9% will seem like it's free.

So you think interest rates are going to skyrocket? Have any rough idea when?

I'm thinking the same thing, and just refi'd my house to a 30yr @ 3.875% to take advantage of it.

Well, that and it makes it a good $250 cashflow positive should I decide to move and rent it out.

[Vertnut]

So you think interest rates are going to skyrocket? Have any rough idea when?

I'm thinking the same thing, and just refi'd my house to a 30yr @ 3.875% to take advantage of it.

Well, that and it makes it a good $250 cashflow positive should I decide to move and rent it out.

Rates will have to go up at some point, and I'm afraid when they start that trend, the sky will be the limit. It wasn't that long ago that a 7% mortgage was pretty reasonable. If anyone has the means, now is the time to re-fi or purchase. I just bought a place with a 3.5% mortgage, too.

[ceyko]

I'm about as serious as you are. But...not everyone should be "entitled" to go to college.

I agree with this as far as entitled goes. Most I see who don't earn it, then don't take it serious which spills over into their jobs. There are exceptions to every thing of course.

Either way, if you don't have the money out of HS there are a few different options to get your degree if you really want it. You're young at that age and can earn it and live fine. (Multiple jobs + school, military, military + school and so on)

I know a lot of people feel the military is beneath them and that is another problem all on its own. However, 95% of the kids I see and know could really use it. As a 21 y/o after a few years service I acted mostly like a 30 y/o. When I enlisted at 16 or 17 I was not very mature.

Anyway, I think a lot of kids focus on college for drinking, drugs and partying as opposed to what their parents, the taxpayer and the student is actually paying for when they are sent off to college.

[mustangguy289]

And you can't send the overage as a lump payment to principal? Fucking idiot.

WHAT!!!! It is much easier to blow the money and bitch that THEY made you use it! Effin a-holes.

I screwed up my 1st semester and took a loan that had way too high of interest rate. So every semester after that I would send any extra money from my loans to pay down that first loan that had the higher interest rate.

I love how people agree to the terms of a loan then bitch about it later.

[likeitfast55]

He wants all of us to be "indoctrinated" by the liberal prof's in all the colleges. THAT'S why he wants everyone in college. It's a brain-washing process that's already in place. He just needs to be sure that EVERYONE gets there to hear it. It's the reason public schools can't fail anyone and everyone should be entitled to a college education.

STOP eating lead infused paint chips! It leads to independent thought! = bad

[lowthreeohz]

luckily I consolidated at 2.9%.