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originally posted by: JAGStorm
So firstly, if I read another story about somebody that has 350,000 in loans that they don’t know how they will pay off I’m going to vomit.
Secondly, we need to stop calling them Student Debt loans.
A person is going to school, and they are making some VERY bad decision while there and those decisions get lumped into the loans. Very few of these are actually just the cost of tuition and basic room and board. Many of these have other costs grouped in.
The median cost of four years of medical school attendance in 2019-2020 was $250,222 at public institutions and $330,180 at private colleges, according to a fall 2020 report issued by the Association of American Medical Colleges. Class of 2020 graduates left medical school with an average education debt load of around $207,000, per AAMC data, and one analysis found that costs have risen on average 3%-4% annually over the last decade.
The stories I’ve read aren’t shy to point that out either, so not something I’m making up.
Thirdly, Why isn’t there a cap to what can be taken out for student loan?
Your school determines the loan type(s), if any, and the actual loan amount you are eligible to receive each academic year. However, there are limits on the amount in subsidized and unsubsidized loans that you may be eligible to receive each academic year (annual loan limits) and the total amounts that you may borrow for undergraduate and graduate study (aggregate loan limits). The actual loan amount you are eligible to receive each academic year may be less than the annual loan limit. These limits vary depending on
* what year you are in school and
* whether you are a dependent or independent student.
Don’t you find that suspicious? People get capped all the time, for car loans, for house loans, etc. Someone for “student loans” they are allowed to take out in the hundreds of thousands of dollars when they haven’t even made a single RED cent? HAA HAA HAA. In college but soooo stupid.. Now to my theory.
The government doesn’t plan on wiping these out. These are merely tools to keep people enslaved and they are falling into the spiders trap so easily. I knew they were going to do this. Delay the payment, delay, let people build up their other debt, delay, debt. It will get to the point where people can’t pay it, and it will hinder them from upward mobility.
originally posted by: Boadicea
It's not fair to those who did the right thing and paid off their loans. It's not fair to those who worked their butts off to pay as they went. It's not fair to those who didn't get an education because they didn't have the funds nor loans to get an education/vocational training.
And worst of all, it's not fair to those who will have to pick up the tab -- the taxpayers! -- because we know the lenders aren't going to take the fall.
However, for those that created this debt and gambling based economic system, it makes perfect sense to keep the little people in debt... which keeps them in need... and keeps them dependent upon their masters holding the purse strings.
originally posted by: JAGStorm
Yes the vocations can make a very good living, sometimes much more than a college degreed job, but without the debt…….BUT… and there is a huge BUT. A lot of those jobs take their toll on your body. I’m sure not all vocational jobs do, but I would bet a vast majority of them do. That is the payoff.
I have learning challenges they were able to accommodate.
So now I’m going on eight years at my job in a group home...
I work over 50 hours a week sometimes...
also support a severely disabled adult who is 100% financially dependent on me.
originally posted by: scraedtosleep
She got talked into getting a 40K loan for collage courses that she didn't even want. Dropped out after the first month.
originally posted by: ketsuko
Not only that, but it's not like the loans are actually frozen. They're accruing interest all this time, so if you aren't paying anything on them, they're just getting bigger.
originally posted by: carewemust
a reply to: JAGStorm
8.21.2022
Breaking!
Biden Admin to cancel existing Student Loans: www.washingtonexaminer.com...
Those of us who did NOT get our loans cancelled, will pay-off the loans of those who Biden-Democrats bribe, in the hope of getting their vote.
Are there still gullible, short-sighted Americans who will approve of this?
The White House is reportedly mulling whether to cancel out $10,000 in federal student loans per borrower. Some legislators and groups have advocated for canceling out $50,000 or higher per borrower.