Majority do not know their loan interest rates
The majority of college students ignore the costs of their student loans and more than a third expect taxpayers to cover the tab, according to a new poll.
A poll of college students and recent graduates found that 56 percent of borrowers did not know the interest rates on the loans enabling them to attend college, according to Millennial Personal Finance. Additionally, 21 percent of borrowers believe their grade point average influences how much they will pay for their education and 34 percent of respondents said "the federal government was going to forgive their loans" if they were unable to make payments.
Only 14 percent of those who took out loans are confident they will be able to repay them, according to the survey.
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Like Hell!!! So you want me to pay for your liberal indoctrination?
ReplyDeleteScrew you!
People should be able to attend college without going bankrupt. It isn't fair that because someone comes from a low income house that they truly don't have the same opportunities that the rich kids get. No, it shouldn't fall on taxpayers. But what would help get people to pay back student loans is to have interest free and penalty free loans. I only borrowed $17,000 in 4 years and owe over $65,000. I was under employeed for over two years. I started looking out of state for jobs. I kept using deferments because I couldn't find a full time job. By the time I did, interest and penalties added up. They sent me a bill and told me I had to start paying $695 a month. That is higher then my mortgage. I don't have much equity in my house. It is a very tiny house. But I could refinance and maybe pay off the $17,000, But I will never be able to pay $695 a month on my salary. Especially since the interest and penalties keep adding up. I went to college to have a better life. I am making now the same amount I was making 20 years ago with just a high school diploma. College should be affordable and give everyone from every economic background the same chance. But that is not reality.
ReplyDeleteMy child did. He took construction manangment at UMES. He has a great job
ReplyDelete7:59 PM: College isn't responsible for giving you ANYTHING but an education in the field YOU choose. I don't feel sorry for you.
ReplyDeleteI worked during the day, went to college in the evening, and raised my kids on the weekend. I had no loans or grants and had to pay my tuition out of the family budget. It took me a long time but I eventually ended up with an engineering degree from Hopkins. The best part was that I did not owe a soul for it financially. Your problem is that you made some bad choices such as signing up for a "free" college loan to begin with.
I suggest you consider a second job.
I am only want a fair loan. I borrowed money knowing I was to pay it back, this shouldn't be news to anyone. Why is the loan consolidation making it a separate transaction with a fee and "settlement point" put on it? My now $30000.00 amount grew from it's original seed of less than 6,000.00. Refinancing and getting an affordable rate is impossible yet if I had a car loan it would be paid in six years. I will pay this but I will never trust another educational institution again. I did not get a degree in accounting and the figures backing this legislation are bigger crooks than I could ever imagine. I am not ashamed of working for a living but I am ashamed I feed these people.
ReplyDeleteThey do know exacxtly what they can go do to themselves, don't they?
ReplyDeleteIt is ON them NOT US or anybody else....Not My Problem !!!!
ReplyDeleteHell, if that was allowed, WE ALL would be going to college
if all we had to do was .....Not Pay for it, and put it on
somebody else or the taxpayers....we All would have PHD's !!
They went to college , Not Me , I was too poor , and I damn
sure am NOT paying for Theirs !!!!!!! Period
They better get their asses to work !!!!!!!!
And when we have to I am going to quit my job, not pay another nickel of tax to the government, file bankruptcy and to hell with it. I refuse. I already have paid a school tax for umpteen years, which is the bulk of my property taxes, and I've never had a kid. Then I see the way they come out, kids are terrible these days, and now they think I'll pay their college bill. Not this day, week, or year.
ReplyDelete