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Awesomeness!!

Obama's student loan program.

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In previous Obama budgets, the White House has predicted that making the plan retroactive would cost the federal government billions of dollars in the early years. Asked about the costs Monday, Education Secretary Arne Duncan said the administration won’t know how much it will cost until they go through the rule-making process to put the expansion in place.
 
‘‘We actually don’t know the costs yet,’’ Duncan said. ‘‘We'll figure that out on the back end.’’

 

 

No surprise there

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Because tuition hasn't gone up 6000% since the previous generation. Also income is up and the cost of living is dirt cheap.

Everything is relative. No remote or online classes so you had to drive or horrors of horrors walk/bike to school.

Plus more info online and access to grants which also has gone up.

Dont be an idiot with student debt and get a weak major or not find ample work to pay down the debt.

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yes, lets take even more money over the long run away from people that are already struggling brilliant that will help them get out of the hole

Exactly. Similar to loan modification for home. Sure its mild relief in the present but long term significantly more expensive.

Its a kick the can down the road mindset. Instead of saving for the bill we just want to swipe the card so we can have now.

I say multiple courses in budgeting and saving should be required if you refinance.

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Everything is relative. No remote or online classes so you had to drive or horrors of horrors walk/bike to school.

Plus more info online and access to grants which also has gone up.

Dont be an idiot with student debt and get a weak major or not find ample work to pay down the debt.

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Well sure but people that have taken out, say 30,000 for four years can have a decent paying job that involves their major and still by stuck paying 500 bucks or so a month. That is a car payment, or even the rent in some places (half of the rent in other places).

We're asking people to pay enormous amounts of money when its not feasible in most cases. Even doctors complain about student loan debt repayment

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Amazing how the Huddlers complaining about this are those who barely got thru their GED classes, let alone even considered college.

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Well sure but people that have taken out, say 30,000 for four years can have a decent paying job that involves their major and still by stuck paying 500 bucks or so a month. That is a car payment, or even the rent in some places (half of the rent in other places).

We're asking people to pay enormous amounts of money when its not feasible in most cases. Even doctors complain about student loan debt repayment

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Choices. Its all about choices.

Dont bite off more than you can chew.

At the rate we are going just make it free and you start off making 35 an hour.

Things have costs and value sets for a reason.

Some reasonable fixes can happen but more and more our collective society wants something for nothing.

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Amazing how the Huddlers complaining about this are those who barely got thru their GED classes, let alone even considered college.

 

I would pie this double if I could. I personally don't have any student loans (joined the military a month after high school) but I have seen many young men and women obviously not cut out for the military willing to join up and fight in a war just to pay off student loans. That is saying something.

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Choices. Its all about choices.

Dont bite off more than you can chew.

At the rate we are going just make it free and you start off making 35 an hour.

Things have costs and value sets for a reason.

Some reasonable fixes can happen but more and more our collective society wants something for nothing.

Sent from my SPH-L710 using CarolinaHuddle mobile app

 

were you single? or were you married with kids?

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for comparison

 

average income of 1970 was about 10,000 annually.

tuition costs were somewhere around 2,350.

 

that is 23.5% of annual income. Sizeable but not insurmountable.

 

 

 

average income of 2014 was about 47,000 annually

tuition costs are around 40,594.

 

that is 86% of expected annual income. A daunting task at best.

 

 

One guy said he paid off his student loan in 12 months. That would be an impressive feat. hard to imagine paying for rent, a car, basic utilities and food from 14% of income. I would love to see a financial breakdown of that one.

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