When the next democrat president “forgives” all of the student loans to buy votes I am going to feel like a real rube for making my kids go to state universities and work their way through college so they could graduate without any debt.
This for anyone out there who thinks there isn’t a way to succeed, and a parallel story about a brother. My goddaughter just graduated college last month and starts her masters at UT this fall (journalism...its ok she’s a conservative). When she is finished, she will have $0 I’m student loan debt. How? Her father paid half of the BS, with his GI Bill paying the rest. She studied hard, got excellent grades and then applied for a graduate assistant job which she snapped up easily because she’s smart. Guess what? The job pays for her MS, with a little extra for housing and necessities. She’s totally awesome, and I love her like the daughter I never had.
She is getting married next month. He was home schooled, and raised by a Christian family with morals I didn’t even know a millennial could have. He finished his BS (pre-med), scored high on his MCATs, and is entering a Navy program that will pay for his med school and specialty training (he will also get to be an 0-3 when he starts). His debt at the end of all this? Nothing, because he chose to serve and earn his way. I’m happy he’ll be my godson in-law. He’s like a son I never had (I’m childless).
His brother is just as smart and scored even higher on his MCATs. He applied, and was finally accepted in a med school in Memphis (ugh). Why? If you answer in the name of “diversity”... you’d be a winner. Totally unfair, but still proud.
So students typically have 10 to 25 years to repay federal loans entirely, but under the Public Service Loan Forgiveness (PSLF) program, you may qualify for forgiveness of the remaining balance due on your William D. Ford Federal Direct Loan (Direct Loan) Program loans after you have made 120 qualifying payments on those loans while employed full-time by certain public service employers. You must have made 120 separate monthly payments after Oct. 1, 2007, on the Direct Loans for which you are requesting forgiveness. In general to have a loan balance after 10 years, the 120 required payments should be while making reduced monthly payments under an Income-Driven Repayment plan. - https://studentloans.gov/myDirectLoan/repaymentEstimator.action
I do not know what percentage of income students are to pay over the course of 10 years, but this offer helps explain why so many liberals work for the gov.