As resumption of educational debt repayment looms, more than 7 in 10 borrowers say they are taking on extra work, while half say they don't know whether they'll be able to make payments come October.
i applied for income based repayment program 3-4 different times, always denied. I was making around 2k/month, and they wanted me to pay $1000/month. after getting rejected the third or fourth time, I just stopped even attempting to handle the debt in good faith.
That is insane. I don’t think college should be free but it needs to be less expensive. It shouldn’t cost an arm and leg to go to college and cost more than a car. I strongly support a subsidized school system that is reasonably priced.
Free just means fewer people would be able to go. That is how most other countries handle the situation. I want everyone to have access to a low cost education to better themselves either for a job or just for personal enjoyment. I am always taking college classes but it has become a strain on my budget.
Why shouldn’t it be free? I mean if businesses are making A LOT of money from the labour of those who’ve paid extraordinary amounts for their education - and are no where near providing equal compensation for that labour - then businesses should be paying for ALL education.
I explained why it shouldn’t be free. We would have to limit the number of students like the rest of the world does to control the cost. We would close it off to only the brightest and most people would be excluded from a college education.
That is how most countries handle college. Only the best get to go and the rest go to trade school or just work other jobs. I want people here to have the chance to better themselves. That is the American dream.
Nothing will be repoed. They may garnish your wages but at the end of the day, there is no collateral.
Garnished wages is still a huge problem.
Student loans are not forgiven in bankruptcy.
The federal government will garnish borrowers wages until they are paid, even if the borrower is bankrupt.
They look at your wages and expenses. I knew a dentist who got garnished 10 dollars a month. That’s all he could afford.
You can’t take blood from a turnip
i applied for income based repayment program 3-4 different times, always denied. I was making around 2k/month, and they wanted me to pay $1000/month. after getting rejected the third or fourth time, I just stopped even attempting to handle the debt in good faith.
That is insane. I don’t think college should be free but it needs to be less expensive. It shouldn’t cost an arm and leg to go to college and cost more than a car. I strongly support a subsidized school system that is reasonably priced. Free just means fewer people would be able to go. That is how most other countries handle the situation. I want everyone to have access to a low cost education to better themselves either for a job or just for personal enjoyment. I am always taking college classes but it has become a strain on my budget.
@wintermute_oregon @jpreston2005
Why shouldn’t it be free? I mean if businesses are making A LOT of money from the labour of those who’ve paid extraordinary amounts for their education - and are no where near providing equal compensation for that labour - then businesses should be paying for ALL education.
I explained why it shouldn’t be free. We would have to limit the number of students like the rest of the world does to control the cost. We would close it off to only the brightest and most people would be excluded from a college education. That is how most countries handle college. Only the best get to go and the rest go to trade school or just work other jobs. I want people here to have the chance to better themselves. That is the American dream.
@wintermute_oregon
Why would we have to limit the number of students?
edit to add – If businesses are paying ALL education costs there’s no reasons whatsoever to limit education.
Then why isn’t anyone else in the world doing it ? Because unit isn’t cost effective.
Also it isn’t the role of a business to pay for everything you want. That would bankrupt most companies overnight.