President Joe Biden - Kamala Harris Administration

[zeppelin128]

Lower the cap and they'll never get paid off. It's like cc minimums used to be

Just get the feds out of the loan business. That will have a greater effect than any convoluted, porked up bill that tries to address an interest rate. That's a terrible idea for the govt as it will cost everyone more in the long run

How is the left this bad at math and finances? Serious question

I was just trying to offer a compromise for people that are struggling with their debt. I don't completely agree with the policy announced yesterday, even though it will help me (I have about 3k left on my student loans). Interest seems to be what hurts people the most, akin to making cc min payment + interest. And that cap I mentioned is income based. Interest rates should be the focus, but that will never happen.

My problem with the policy is that it doesn't fix the problem of tuition costs. It kicks the can down the road.

 

[Orangeburst]

I was just trying to offer a compromise for people that are struggling with their debt. I don't completely agree with the policy announced yesterday, even though it will help me (I have about 3k left on my student loans). Interest seems to be what hurts people the most, akin to making cc min payment + interest. And that cap I mentioned is income based. Interest rates should be the focus, but that will never happen.

My problem with the policy is that it doesn't fix the problem of tuition costs. It kicks the can down the road.

Bless their hearts ..Gov ****ed everyone or loans should be non interest? Quite a dichotomy

 

[hUTch2002]

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.

Good grief. Yeah, that definitely sounds like Hess Hall freshman year back in the 90s. Yep, just like it.

 

[theFallGuy]

 

[allvol123]

Good grief. Yeah, that definitely sounds like Hess Hall freshman year back in the 90s. Yep, just like it.

Not a UT dorm but I spent a summer in Shelbourne Towers sharing a one bedroom apartment with 3 other guys. No air conditioning.

I don’t think you could find such a place like that over there now.

 

[ButchPlz]

We didn't even have the insane stuff kids have now when I started at UT in 2008. Vol Hall was new I think my junior year, but it was not easy to get into. I moved off campus with my roommates after a couple years in Reese and Clement.

 

[DC_Vol]

I was just trying to offer a compromise for people that are struggling with their debt. I don't completely agree with the policy announced yesterday, even though it will help me (I have about 3k left on my student loans). Interest seems to be what hurts people the most, akin to making cc min payment + interest. And that cap I mentioned is income based. Interest rates should be the focus, but that will never happen.

My problem with the policy is that it doesn't fix the problem of tuition costs. It kicks the can down the road.

Doesn’t fix the problem?? This will make it worse.

 

[kiddiedoc]

Not a UT dorm but I spent a summer in Shelbourne Towers sharing a one bedroom apartment with 3 other guys. No air conditioning.

I don’t think you could find such a place like that over there now.

Hell yeah. I can still see the smoke wafting in the halls of Shelbourne to the beat of the Ants Marching snare.

 

[volinbham]

I was just trying to offer a compromise for people that are struggling with their debt. I don't completely agree with the policy announced yesterday, even though it will help me (I have about 3k left on my student loans). Interest seems to be what hurts people the most, akin to making cc min payment + interest. And that cap I mentioned is income based. Interest rates should be the focus, but that will never happen.

My problem with the policy is that it doesn't fix the problem of tuition costs. It kicks the can down the road.

more than kick it down the road it puts extra upward pressure on tuition costs

 

[DC_Vol]

So the FBI, who helped engineer the Trump Russia collusion fairy tale, told Facebook that the laptop they had possession of was Russian disinformation.

Now they’ve raided a former president’s home, and people are supposed to believe it’s legit. Nah…

The FBI can no longer be trusted. It needs to be torn down.

 

[Christian Lowe]

So the FBI, who helped engineer the Trump Russia collusion fairy tale, told Facebook that the laptop they had possession of was Russian disinformation.

Now they’ve raided a former president’s home, and people are supposed to believe it’s legit. Nah…

The FBI can no longer be trusted. It needs to be torn down.

I wonder if 3 letter agency trust was lower during the 90’s with Ruby Ridge and Waco or now with obvious political bias.

 

[allvol123]

Hell yeah. I can still see the smoke wafting in the halls of Shelbourne to the beat of the Ants Marching snare.

There was a place at the bottom called Killer Pizza my freshman year. Not sure how long it was there. Could get a really greasy pizza for 4.99.

Those were the days…

 

[zeppelin128]

Bless their hearts ..Gov ****ed everyone or loans should be non interest? Quite a dichotomy

I think y'all are misunderstanding me. I agree with most here, the student loan forgiveness announced yesterday is not a good idea and i don't agree with it.

But I don't see an issue with the Feds lowering interest rates on loans that they hold. Not private loans or consolidated loans. Only fed held loans. This is a pretty common compromise I see proposed from both the right and left.

 

[Orangeburst]

I think y'all are misunderstanding me. I agree with most here, the student loan forgiveness announced yesterday is not a good idea and i don't agree with it.

But I don't see an issue with the Feds lowering interest rates on loans that they hold. Not private loans or consolidated loans. Only fed held loans. This is a pretty common compromise I see proposed from both the right and left.

When should the government be considered a bank giving any loans?

 

[zeppelin128]

Not a UT dorm but I spent a summer in Shelbourne Towers sharing a one bedroom apartment with 3 other guys. No air conditioning.

I don’t think you could find such a place like that over there now.

Melrose was still a "shade" hall when I lived in Greve. I delivered a lot of pizza to Shelbourne when I was at UT. Good tippers there.

 

[volinbham]

I think y'all are misunderstanding me. I agree with most here, the student loan forgiveness announced yesterday is not a good idea and i don't agree with it.

But I don't see an issue with the Feds lowering interest rates on loans that they hold. Not private loans or consolidated loans. Only fed held loans. This is a pretty common compromise I see proposed from both the right and left.

I posted in the other thread that some of the interest income is (or at least was) earmarked. I realize the Feds move money around so maybe it doesn't matter but it still reduces revenue. So maybe you could charge what the Feds pay to borrow what they loan but it causes short falls elsewhere.

The other concern I have with it is reducing the cost of borrowing will encourage more borrowing which drives the cycle again and puts upward pressure on tuition.

IOW - I don't know if reducing interest rates would be a net positive.

Personally I advocate reducing the borrowing limits to put pressure universities/colleges to be more cost efficient. Might hurt in the short term but reduces the structural problems that will keep this problem a constant.

 

[zeppelin128]

When should the government be considered a bank giving any loans?

The government holds the majority of student loans. The Feds hold most of mine, as well as the state of Pennsylvania for whatever reason (never even been there).

Changing that is a conversation worth having, but as it stands today the Feds hold the vast majority of student loans.

 

[Orangeburst]

The government holds the majority of student loans. The Feds hold most of mine, as well as the state of Pennsylvania for whatever reason (never even been there).

Changing that is a conversation worth having, but as it stands today the Feds hold the vast majority of student loans.

So they created their own problem.
One day many will learn that gov is the impediment to solution

 

[volinbham]

The government holds the majority of student loans. The Feds hold most of mine, as well as the state of Pennsylvania for whatever reason (never even been there).

Changing that is a conversation worth having, but as it stands today the Feds hold the vast majority of student loans.

maybe the loan processor the Feds use is connected to PA?

 

[StarRaider]

So the FBI, who helped engineer the Trump Russia collusion fairy tale, told Facebook that the laptop they had possession of was Russian disinformation.

Now they’ve raided a former president’s home, and people are supposed to believe it’s legit. Nah…

The FBI can no longer be trusted. It needs to be torn down.

watch ur back wingnut

 

[Carl Pickens]

you can take the boy out of The Baylor School for Boys and Girls but you can't take The Baylor School for Boys and Girls out of the boy (or girl).

Is OB a spoiled rich kid from private school?

 

[Orangeburst]

Is OB a spoiled rich kid from private school?

I am right here. Ask me.

 

[Carl Pickens]

I am right here. Ask me.

You a Baylor alum?

 

[StarRaider]

Is OB a spoiled rich kid from private school?

Negative on the subject.

 

[Orangeburst]

You a Baylor alum?

Yes. That make me spoiled and rich kid?