Posted on 11/21/2022 9:20:51 AM PST by karpov
What is there to understand? You borrowed it, you have to pay it off.
Parents living from paycheck to paycheck take their kids to college and get them a loan.
From my experience, many parents are unable to properly warn their kids about taking on big debt because they don’t even think about it. Most of them just think “this is the way it’s done” and sign up.
And they tell their kids to “follow your dreams.”
Fact of Life: The hardest lessons learned are often the most valuable ... especially if learned at a relatively young age and held fully accountable.
There is a local private college which offers a 2 year degree and accepts Tennessee’s Hope scholarship as full payment. All you have to buy is books.
> Did you even read the article?
Yeah, down to the point where the author said he was a Tax Accountant and MBA student. Not exactly a resume booster to say he couldn’t comprehend the terms of a loan and the implications of compounding interest.
Absolutely, the university should be required to provide data that shows the percentage if graduates with a given degree actually find work in that field and, what the pay is.
That’s why I do it monthly.
“That’s why I do it monthly.”
A really anal person would have the spreadsheet auto-update daily and send the user a text message played by Alexa each morning
Once a month is fine by me. It keeps me on top of my finances. And I don’t react on a one-month spike either way. Stocks are way down over past 12 months but I haven’t made any changes in my allocation or my buys. I figure I’m buying shares at a lower price now.
I don’t care if they didn’t understand what they signed. Where are the parents. Shouldn’t the college be guiding these people or do they not care about them? Again, I don’t care. Many people took loans out to essentially live for 4 years, at some point you have to pay that back.
How is this any different than some 18 year old redneck buying a truck he really can’t afford?
t students didn’t know what they were getting themselves into when they signed up for huge loans.And what most people do not know is that under the Public Service Loan Forgiveness Program the remaining debt of qualifying student loans are forgiven after 10 years of full time employment in government organizations at any level (federal, state, local, or tribal) or secular work in 501(c)(3) non-profits and some that are not 501(c)(3), all of which includes workers in teaching, non-partisan social work and public defenders, state-regulated child care, pre-kindergarten, Head Start. nurse practitioners, and who make their 120 on-time monthly payments in their repayment plan.
And "The congressional spending bill signed by President Donald Trump contained a nice surprise – relief for student loan borrowers who work in public service. "
I can answer all those dang near +/- $10.
Federal Pell Grant recipients may be eligible for up to $20,000 in debt relief, and other federal student loan borrowers may be eligible for up to $10,000 in debt relief. Forgiveness, cancellation, or discharge of your loan means that you are no longer required to repay some or all of your loan. Find out more using the links below...The terms forgiveness, cancellation, and discharge mean nearly the same thing, but they’re used in different ways. If you’re no longer required to make payments on your loans due to your job, this is generally called forgiveness or cancellation. If you’re no longer required to make payments on your loans due to other circumstances, such as a total and permanent disability or the closure of the school where you received your loans, this is generally called discharge.
If you are employed by a government or not-for-profit organization, you may be able to receive loan forgiveness under the Public Service Loan Forgiveness (PSLF) Program...If you teach full-time for five complete and consecutive academic years in a low-income elementary school, secondary school, or educational service agency, you may be eligible for forgiveness of up to $17,500 on your Direct Loan or FFEL Program loans.PSLF forgives the remaining balance on your Direct Loans after you have made 120 qualifying monthly payments under a qualifying repayment plan while working full-time for a qualifying employer.
If you are employed by a U.S. federal, state, local, or tribal government or not-for-profit organization, you might be eligible for the Public Service Loan Forgiveness Program. Keep reading to see whether you might qualify
If your school closes while you’re enrolled or soon after you withdraw, you may be eligible for discharge of your federal student loan.
You may be eligible to have all or a portion of your Perkins Loan canceled (based on your employment or volunteer service) or discharged (under certain conditions). This includes Perkins Loan Teacher Cancellation.
If you’re totally and permanently disabled, you may qualify for a discharge of your federal student loans and/or Teacher Education Assistance for College and Higher Education (TEACH) Grant service obligation.
Federal student loans will be discharged due to the death of the borrower or of the student on whose behalf a PLUS loan was taken out.
In some cases, you can have your federal student loan discharged after declaring bankruptcy. However, discharge in bankruptcy is not an automatic process.
You may be eligible for discharge of your federal student loans based on borrower defense to repayment if you took out the loans to attend a school and the school did something or failed to do something related to your loan or to the educational services that the loan was intended to pay for. The specific requirements to qualify for a borrower defense to repayment discharge vary depending on when you received your loan.
You might be eligible for a discharge of your federal student loan if your school falsely certified your eligibility to receive a loan.
If you withdrew from school and the school didn’t make a required return of loan funds to the loan servicer, you might be eligible for a discharge of the portion of your federal student loan(s) that the school failed to return.
Forgery Discharge Available for Direct Loans, as well as FFEL Program loans and Federal Perkins Loans held by the U.S. Department of Education.
Eligibility for Parent Borrowers As with loans made to students, a parent PLUS loan can be discharged if you die,
https://studentaid.gov/manage-loans/forgiveness-cancellation/public-service says.
Qualifying for PSLF
To qualify for PSLF, you must
be employed by a U.S. federal, state, local, or tribal government or not-for-profit organization (federal service includes U.S. military service);
work full-time for that agency or organization;
why pay off a student loan when you can spend that money traveling and partying like a rock star?
You had self reliance turned to an art form. I love the idea of trading fresh caught fish to restaurant kitchens.
Apparently you didn’t read the article. The whole point is that it was incredibly difficult to get the terms.
First step is reading.
That is my point.
Ya got to read the whole thing.
( I did read the article )
When I don’t understand , I ask.
It’s the buyer/applicants responsibility.
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