Student Loan Debt?

[Gem99ultra]

I DIDN'T get a student loan. Will the government just give me the $100K+ difference please.

 

[LD48750]

Loan forgiveness is just ***** buying votes.

He should send ME $50k because I didn't take out a loan I wouldn't pay back.

 

[jyoutz]

My kids high school held a meeting for parents about funding college via grants, loans, etc. After the presentation it was opened up for questions. One person asked: "Let me see if I have this straight. My neighbor & I make exactly the same amount. He spends his money on vacations and boats so doesn't have anything in savings and I put mine in savings and forgo the vacations and boats. He will get the grant money and I won't." The presenter said: I wouldn't put it that way, but essentially you are correct.

I don’t understand your comparison. The grants are annual income based, not savings based.

 

[ultrarunner]

My nephew was required to submit family financial documents to the University and part of it was identifying assets...

 

[2manyrocks]

The entire process is extremely privacy intrusive. There are also some oddities in how assets are counted. Someone could stash their liquid assets in a retirement plan and they would not be counted towards their financial means, but keeping the same amount of assets outside of a retirement sheltered plan means those assets will be counted towards the family's expected financial contribution.

It would save the taxpayers money to give away degrees instead of funding this nonsense and paying for the bureaucrats that administer it. Plus, we could skip the 6+ years some of these students spend in college, and they could be out working actually learning a useful skill.

 

[MattB4]

...

It would save the taxpayers money to give away degrees instead of funding this nonsense and paying for the bureaucrats that administer it. Plus, we could skip the 6+ years some of these students spend in college, and they could be out working actually learning a useful skill.

We could just add 4 more years of public education. Call it Upper High school. Kids are not growing up these days anyway until after 20 so it would be no big deal to keep them in school a bit longer. Only during UH would they be allowed to work part time.

So there would be Pre-school, Grade School, Junior high, Senior high and Upper high. Colleges would hate to lose all them kids though.

 

[ultrarunner]

Thank You... Intrusive is the word that escaped me.

What I found odd is my nephew was 20 at the time he applied and had already completed 2 years at the local community college...

So why are the parents compelled to be involved?

Turned out with parents gainfully employed and owning a farm the mandatory assistance application was for naught... just as my brother had thought.

 

[Torvy]

I don’t understand your comparison. The grants are annual income based, not savings based.

It uses both. My 4th kid is in her Sr year at Tech. All 4 kids had this issue. They use net wealth, essentially, to determine how much you can afford, not income.

Tuition rose as a direct result of an uptick in fed/state student loans. More money chasing the same quantity of 'education'. Simple supply and demand stuff. This has zero to do with inflation.

If the government has any interest in paying for education, it is in exchange for service like any other employer. One reason they could get military recruits was for GI Bill. Why bother with the risk and hassle of service if the country will give you a loan and not make you pay it back?

 

[two_bit_score]

Those are great options for people in the medical field. Not so much if you are studying engineering or another science.

Contrary to the opinions of some, the government is not supposed to be all things to all people. Big Govt deep pockets can run out of money.

 

[two_bit_score]

If the government has any interest in paying for education, it is in exchange for service like any other employer. One reason they could get military recruits was for GI Bill. Why bother with the risk and hassle of service if the country will give you a loan and not make you pay it back?

Bingo!