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| Topic: Re finance student loan,, interesting idea | |
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My previous description of loan re-financing is just that, loan re-financing, and people who have college loans already have the option to re-finance if they can find a private lender who is willing to participate.
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no you are one case of many,, hooray for you no need to feel anything but for all the others who weren't so able or fortunate, I still FEEL its a good option for them to have,,, the option is go to a public school and major in something that you can get a job quickly after graduating.. where you get your undergraduate degree is pretty irrelevant. get a job after graduating and then when you have some stability pick a more prestigious school for a graduate degree.. I am sorry, but this falls under the category of irresponsible choices and in my OPINION the taxpayers are going to get screwed over again for it.. Non prestigious medical schools are around 180k. After paying for a 4 year degree that is prestigious enough to compete for a slot in the 180k program. Many cost more. Got friends graduating 300k in debt. Irresponsible, perhaps. But costs and interest rates are killing people. Law school is more than 100k. Hit or miss as far income is concerned after graduation. I agree. Going to college for the sake of going to college is foolish nowadays. You need a plan. But this is madness. Honestly I wish banks would have stayed out of college from the beginning. Costs would be MUCH lower. Do you think doctors will make enough money to pay off the debt? That 180k investment will pay off rather handsomely over their career.. There are people paying 47k per year to go to Columbia for a degree in geography or fine art.. Those are the people I am talking about. |
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it depends upon how long and how much one can pay (Can pay?) Agreed to pay, via contract. if it will take longer to pay off, the payments are smaller but the total interest paid is MUCH HIGHER,,, Again. They signed a contract. Interest doesn't change. if one makes LARGER payments to pay off quicker, the total interest paid is MUCH HIGHER Again, signed contract. Agree to pay, No one forced them. Pay regular payment and a separate payment towards the principle, interest decreases. (Fewer Payments) so . for those who can best afford it, they are asked for less IN ADDITION to what they borrowed IF, they couldn't afford it, why did they sign a contract, stating, under oath, they could? for those who must struggle more to afford it, they are asked for MORE IN ADDITION to what they borrowed, Missed/late payments, penalty. Happens to everyone. Is there a SPECIFIC group you are referring to? in any case, for those who have to 'work hard' to afford it,, the rates can become ridiculous BPHUCKINS. The4 rates are the same, across the board. However, some groups may get discounted prices for educations. Example. Some states charge the same for Illegals. Imagine that! Illegals are given tax breaks and financial incentives to attend school here. Is this another, POORPHUCKINGME thread? 
Now, if it was me loaning money for education, I'd want collateral if it's an adult. The same type listed below. If it's a young person, I'd want a co-signer with collateral. Homes, other property leans, leans on IRAs, automatic bank withdrawals, etc. |
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Edited by
Drivinmenutz
on
Mon 02/10/14 09:25 AM
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no you are one case of many,, hooray for you no need to feel anything but for all the others who weren't so able or fortunate, I still FEEL its a good option for them to have,,, the option is go to a public school and major in something that you can get a job quickly after graduating.. where you get your undergraduate degree is pretty irrelevant. get a job after graduating and then when you have some stability pick a more prestigious school for a graduate degree.. I am sorry, but this falls under the category of irresponsible choices and in my OPINION the taxpayers are going to get screwed over again for it.. Non prestigious medical schools are around 180k. After paying for a 4 year degree that is prestigious enough to compete for a slot in the 180k program. Many cost more. Got friends graduating 300k in debt. Irresponsible, perhaps. But costs and interest rates are killing people. Law school is more than 100k. Hit or miss as far income is concerned after graduation. I agree. Going to college for the sake of going to college is foolish nowadays. You need a plan. But this is madness. Honestly I wish banks would have stayed out of college from the beginning. Costs would be MUCH lower. */// Do you think doctors will make enough money to pay off the debt? That 180k investment will pay off rather handsomely over their career.. There are people paying 47k per year to go to Columbia for a degree in geography or fine art.. Those are the people I am talking about. Not necessarily. Doctors don't get paid as much as one would think. 150k a year is almost nothing with $3000+ monthly student loan payments, and $15,000 a year in malpractice insurance. Not to mention many MD careers are taking cuts in pay while being expected to take on more patients. And yes, I agree with your example on spending large sums to get B.S. degrees. That is probably the majority of the problem today with un-managed student loans. That being said, its horrible to have 7%+ interest on 300k+ of debt. So i guess what Im trying to say, is that I don't see a problem with allowing these loans to be consolidated at a lower interest. Its essentially private banks dealing with private banks. Only thing the government pays is the interest while said student is attending college. |
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Hey, if a college graduate wants to turn to a private lender to obtain a personal loan in order to pay off a federal loan, then I am all for it. That is how refinancing works. One borrows from Lender A to pay off Lender B. Agree completely |
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no you are one case of many,, hooray for you no need to feel anything but for all the others who weren't so able or fortunate, I still FEEL its a good option for them to have,,, the option is go to a public school and major in something that you can get a job quickly after graduating.. where you get your undergraduate degree is pretty irrelevant. get a job after graduating and then when you have some stability pick a more prestigious school for a graduate degree.. I am sorry, but this falls under the category of irresponsible choices and in my OPINION the taxpayers are going to get screwed over again for it.. Non prestigious medical schools are around 180k. After paying for a 4 year degree that is prestigious enough to compete for a slot in the 180k program. Many cost more. Got friends graduating 300k in debt. Irresponsible, perhaps. But costs and interest rates are killing people. Law school is more than 100k. Hit or miss as far income is concerned after graduation. I agree. Going to college for the sake of going to college is foolish nowadays. You need a plan. But this is madness. Honestly I wish banks would have stayed out of college from the beginning. Costs would be MUCH lower. */// Do you think doctors will make enough money to pay off the debt? That 180k investment will pay off rather handsomely over their career.. There are people paying 47k per year to go to Columbia for a degree in geography or fine art.. Those are the people I am talking about. Not necessarily. Doctors don't get paid as much as one would think. 150k a year is almost nothing with $3000+ monthly student loan payments, and $15,000 a year in malpractice insurance. Not to mention many MD careers are taking cuts in pay while being expected to take on more patients. And yes, I agree with your example on spending large sums to get B.S. degrees. That is probably the majority of the problem today with un-managed student loans. That being said, its horrible to have 7%+ interest on 300k+ of debt. So i guess what Im trying to say, is that I don't see a problem with allowing these loans to be consolidated at a lower interest. Its essentially private banks dealing with private banks. Only thing the government pays is the interest while said student is attending college. here is a link with average starting and 6yrs of experience salaries.. http://www.profilesdatabase.com/resources/2011-2012-physician-salary-survey |
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no you are one case of many,, hooray for you no need to feel anything but for all the others who weren't so able or fortunate, I still FEEL its a good option for them to have,,, the option is go to a public school and major in something that you can get a job quickly after graduating.. where you get your undergraduate degree is pretty irrelevant. get a job after graduating and then when you have some stability pick a more prestigious school for a graduate degree.. I am sorry, but this falls under the category of irresponsible choices and in my OPINION the taxpayers are going to get screwed over again for it.. Non prestigious medical schools are around 180k. After paying for a 4 year degree that is prestigious enough to compete for a slot in the 180k program. Many cost more. Got friends graduating 300k in debt. Irresponsible, perhaps. But costs and interest rates are killing people. Law school is more than 100k. Hit or miss as far income is concerned after graduation. I agree. Going to college for the sake of going to college is foolish nowadays. You need a plan. But this is madness. Honestly I wish banks would have stayed out of college from the beginning. Costs would be MUCH lower. */// Do you think doctors will make enough money to pay off the debt? That 180k investment will pay off rather handsomely over their career.. There are people paying 47k per year to go to Columbia for a degree in geography or fine art.. Those are the people I am talking about. Not necessarily. Doctors don't get paid as much as one would think. 150k a year is almost nothing with $3000+ monthly student loan payments, and $15,000 a year in malpractice insurance. Not to mention many MD careers are taking cuts in pay while being expected to take on more patients. And yes, I agree with your example on spending large sums to get B.S. degrees. That is probably the majority of the problem today with un-managed student loans. That being said, its horrible to have 7%+ interest on 300k+ of debt. So i guess what Im trying to say, is that I don't see a problem with allowing these loans to be consolidated at a lower interest. Its essentially private banks dealing with private banks. Only thing the government pays is the interest while said student is attending college. here is a link with average starting and 6yrs of experience salaries.. http://www.profilesdatabase.com/resources/2011-2012-physician-salary-survey Thanks for info. Done plenty of research on this. Spoke with physician recruiters at 2 different hospitals. Only way for Docs to make money is private practice. Affordable Care Act is likely to make things tougher on them now. Hospitals are gunning after Doctors' salaries pretty hard (General practitioners start at 125K, for instance). Saw two ER docs get fired for refusing pay cuts. Upon graduation from medical school, if military benefits haven't been further cut, I was planning on joining again to pay off my student loans. There are still ways around it, but they are becoming fewer and further between. Docs aren't the only ones with issues. Law school graduates are another. Seen nurses graduate with 6 figure debt. Perhaps if it wasn't so easy to sign a piece of paper instead of being forced to shop for the best school for the least amount of money, we would be better off. I really do see banks being a major culprit in this arena. |
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