President Joe Biden - Kamala Harris Administration

#34,801
#34,801
newyorkvol said:
4 years at UT as member of TN Army National Guard….free tuition
4 years Med school on army health profession scholarship…free tuition and educational expenses plus stipend
5 years army residency.

No debt. But now I get to help pay off everyone else’s.
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This on top of paying for peoples healthcare.......That's really nice of you.:D
 
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#34,802
#34,802
K-town Vol Fan said:
I have been paying my student loans for almost 10 years now, the balance has gone up almost 20k. I'm on the "pay on time for 25 years and we'll forgive the rest" plan. 10k is a drop in the bucket and really doesn't even effect me.
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You took out a negative amortization student loan?
 
#34,803
#34,803
newyorkvol said:
4 years at UT as member of TN Army National Guard….free tuition
4 years Med school on army health profession scholarship…free tuition and educational expenses plus stipend
5 years army residency.

No debt. But now I get to help pay off everyone else’s.
Click to expand...

There isn’t even some stipulation in here about graduating, as far as I know.

We’re paying for people that went and flunked or dropped out.
 
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#34,806
#34,806
K-town Vol Fan said:
I'm on the "pay on time for 25 years and we'll forgive the rest" plan.
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What is that "plan"? I don't understand.

Disregard. I found the explanation. I didn't know this was a thing.
Loan Forgiveness
The maximum repayment period is 25 years. After 25 years, any remaining debt will be discharged (forgiven). Under current law, the amount of debt discharged is treated as taxable income, so you will have to pay income taxes 25 years from now on the amount discharged that year.
 
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#34,810
#34,810
McDad said:
What is that "plan"? I don't understand.

Disregard. I found the explanation. I didn't know this was a thing.
Loan Forgiveness
The maximum repayment period is 25 years. After 25 years, any remaining debt will be discharged (forgiven). Under current law, the amount of debt discharged is treated as taxable income, so you will have to pay income taxes 25 years from now on the amount discharged that year.
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I wonder if that'll be the case with Biden's plan
 
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#34,811
#34,811
kiddiedoc said:
Having just moved my eldest into his dorm, I can vouch for this. He has a living room, full refrigerator, individual bedroom and own bath (both of which are very nice). The cafeteria resembles something you might find at a nice all-inclusive resort and has freshly-prepared food options of multiple cuisines. There is a coffee bar, a market, and a game room with a real pool table, ping pong, and about an 80 inch TV.

I asked when I get to come hang out.

It's now a lot easier to see why in-state cost has risen from $4k to $27k per year between my and his freshman years.
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My daughter just finished her 4 yrs at a school in Georgia. Her dorm and food was crap and we still paid $51K/yr. I think for what we're paying for our kid's college experience, the dorms should be top notch
 
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#34,812
#34,812
Sea Ray said:
I wonder if that'll be the case with Biden's plan
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It's a good Q. I also wonder will those who have 10k forgiven pay taxes on the 10k...I expect they will.

We got our daughter through 4 years with no debt except for her summer study abroad. She sprung it on us last minute and we hadn't prepared. So, we paid half and she took out loans to cover the rest. We were going to pay that off (deferred bc covid). This 10k forgiven will wipe it out.
 
#34,813
#34,813
Why have tuition prices basically been double the normal inflation rate for decades now? This is stunning.


rising-cost-of-college.jpg
 
#34,814
#34,814
Sandman 423 said:
I was just pointing out the high cost of cheap sticks.

I would look at an actual metal shop vs a supply house. sometimes you can get good stuff for a pretty reasonable price.
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This is out of my wheelhouse. When I do it I will go with a proven company.
 
#34,815
#34,815
My dad tried to convince me to do my first two years at a CC and then transfer in to UT. I didn't go for it then but now I think lots of people should be considering it. Many states offer low cost/free CC and with lottery scholarship programs you could be halfway done at a fraction of the cost. Plus jr/sr years is where some bigger scholarships open up now that you're entering a major or are already in one.
 
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#34,816
#34,816
SpaceCoastVol said:
You admit this openly? You really are a socialist
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It sounds like he doesn't understand the program. He needs to understand subsidized vs unsubsidize, deferment, capitalization of interest, etc. He is on an income based program paying the minimum.

They are looking at student loan debt because they think it feeds the elitism base who appear to be less responsible and sink in the face of tough choices about life. These are also considered neo-liberal concentration camps and propaganda mills for ideologues. They gotta keep pumping out the easily led. Bernie Sanders approves.
 
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#34,817
#34,817
Sea Ray said:
My daughter just finished her 4 yrs at a school in Georgia. Her dorm and food was crap and we still paid $51K/yr. I think for what we're paying for our kid's college experience, the dorms should be top notch
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It's GA. What did you expect. That being said, you're right.
 
#34,818
#34,818
DancingOutlaw said:
My dad tried to convince me to do my first two years at a CC and then transfer in to UT. I didn't go for it then but now I think lots of people should be considering it. Many states offer low cost/free CC and with lottery scholarship programs you could be halfway done at a fraction of the cost. Plus jr/sr years is where some bigger scholarships open up now that you're entering a major or are already in one.
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Indeed. Knock out your core classes in a CC then transfer. It’s cheaper, and it’ll weed out those not serious.
 
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#34,819
#34,819
This will change the general attitude about debt for the new generation for decades to come. This is a bad precedent though I will benefit myself.
 
#34,820
#34,820
BreatheUT said:
This will change the general attitude about debt for the new generation for decades to come. This is a bad precedent though I will benefit myself.
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It sets a very dangerous precedent. But I'm not surprised the people that can't figure out how to pay their student loans off in 25 years think this makes good sense economically.
 
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#34,821
#34,821
BreatheUT said:
No, I need steel beams under the house in a corner section.
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Do you have a sinking foundation? I had a corner of my house start to sink about 10 years ago, and they used round concrete piers about two feet tall and drove them one by one using a powered hydraulic jack unit they built up to a certain force. I'm pretty sure that the cost of the piers was around $1000 or so at the time, so maybe twice that now. The major expense was the ten guys that dug under the foundation for hours using picks and shovels.
 
#34,822
#34,822
DancingOutlaw said:
It sets a very dangerous precedent. But I'm not surprised the people that can't figure out how to pay their student loans off in 25 years think this makes good sense economically.
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I went back for grad school later in life after undergrad during various times I deferred so I disagree with the general statement if you got your undergrad 25 years ago then you think this is a good idea. There may be various reasons but I do think some young people are maximizing the loans for shopping sprees.
 
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