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01-29-2013, 07:16 AM
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Registered Member
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Join Date: Apr 2007
Location: Wisconsin
Posts: 11,467
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Robbery
I just paid off my student loan in full. I had borrowed the money initially thinking that I would just let the money sit and make interest on it while I was in school. I got socked however because I thought the school was paying off the student loan in our reimbursement deal and they are not doing that they are just reimbursing my tuition. So, I waited to pay it off.
THE BENEVOLENT GOVERNMENT IS LOANING MONEY TO KIDS AT 6.8% INTEREST!!! That is highway robbery when you can buy a HOUSE for 3.5% interest or so!!
I am sick. These kids are getting out of college with basically a mortgage over their heads and no house to show for it and few jobs.
Sickening.
__________________
Those who say it cannot be done should not interrupt the people doing it. ~Chinese Proverb
When I was young and clever, I wanted to change the world. Now that I am older and wiser, I strive to change myself. ~
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01-29-2013, 09:56 AM
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Renewed
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Join Date: Oct 2007
Location: Arkansas
Posts: 5,432
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Re: Robbery
Yep.
My wife graduates in June and we will be looking at about $51,000
__________________
You can't reach the world with your talents. People are sick and tired of religious talents. People need a Holy Ghost annointed church with real fruits to reach out and touch their lives. ~ Pastor Burrell Crabtree
In fact I think that the insinuation of "hateful" Pentecostals is coming mostly from the fertile imaginations of bitter, backslidden ex Apostolics who are constantly trying to find a way to justify their actions. ~ strait shooter
www.scottysweb.com
www.chrisscottonline.com
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01-29-2013, 10:26 AM
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Administrator
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Join Date: Feb 2007
Posts: 16,848
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Re: Robbery
My SIL's student loan bill after getting his Masters degree is almost what my house cost!
However I don't blame the government. How is it the governments fault? I had a student loan when I went to college and understood that nothing is free. I paid interest (a lot more than 6.8%).
BTW - 6.8% is not a bad interest rate. To compare a student loan interest rate with home mortgage rates is not really fair. How about comparing it to credit card interest rates? At that 6.8% is a bargain!
The idea of student loans is not for students to "let it sit and make interest on it". When that happens it just becomes one more government program intended to help people that gets misused.
__________________
"I think some people love spiritual bondage just the way some people love physical bondage. It makes them feel secure. In the end though it is not healthy for the one who is lost over it or the one who is lives under the oppression even if by their own choice"
Titus2woman on AFF
"We did not wear uniforms. The lady workers dressed in the current fashions of the day, ...silks...satins...jewels or whatever they happened to possess. They were very smartly turned out, so that they made an impressive appearance on the streets where a large part of our work was conducted in the early years.
"It was not until long after, when former Holiness preachers had become part of us, that strict plainness of dress began to be taught.
"Although Entire Sanctification was preached at the beginning of the Movement, it was from a Wesleyan viewpoint, and had in it very little of the later Holiness Movement characteristics. Nothing was ever said about apparel, for everyone was so taken up with the Lord that mode of dress seemingly never occurred to any of us."
Quote from Ethel Goss (widow of 1st UPC Gen Supt. Howard Goss) book "The Winds of God"
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01-29-2013, 10:26 AM
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Registered Member
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Join Date: Feb 2009
Posts: 17,807
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Re: Robbery
I looked at my student loans and couldn't believe it. There are 3 different student loans that are now around $1200 to $1500 per loan. Because of loss of employment and some time when I was dumb and refused to pay on the loan, I've already paid more in interest than the principal amount of each loan.
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01-29-2013, 10:30 AM
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Administrator
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Join Date: Feb 2007
Posts: 16,848
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Re: Robbery
Quote:
Originally Posted by n david
I looked at my student loans and couldn't believe it. There are 3 different student loans that are now around $1200 to $1500 per loan. Because of loss of employment and some time when I was dumb and refused to pay on the loan, I've already paid more in interest than the principal amount of each loan.
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I appreciate your honesty in saying "and some time when I was dumb and refused to pay the loan".
Too many times we don't do our part in meeting an obligation and then whine when it cost us in the end. When these things happen it is not satan persecuting us or even God sending us a trial. It is simply us bringing consequences onto ourselves. I have been there and done that! More than once sadly.
__________________
"I think some people love spiritual bondage just the way some people love physical bondage. It makes them feel secure. In the end though it is not healthy for the one who is lost over it or the one who is lives under the oppression even if by their own choice"
Titus2woman on AFF
"We did not wear uniforms. The lady workers dressed in the current fashions of the day, ...silks...satins...jewels or whatever they happened to possess. They were very smartly turned out, so that they made an impressive appearance on the streets where a large part of our work was conducted in the early years.
"It was not until long after, when former Holiness preachers had become part of us, that strict plainness of dress began to be taught.
"Although Entire Sanctification was preached at the beginning of the Movement, it was from a Wesleyan viewpoint, and had in it very little of the later Holiness Movement characteristics. Nothing was ever said about apparel, for everyone was so taken up with the Lord that mode of dress seemingly never occurred to any of us."
Quote from Ethel Goss (widow of 1st UPC Gen Supt. Howard Goss) book "The Winds of God"
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01-29-2013, 10:33 AM
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Renewed
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Join Date: Oct 2007
Location: Arkansas
Posts: 5,432
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Re: Robbery
I do think the interest rate is too high.
But the reason I think that is because it is the government that is always harping about wanting to find ways to help us Amuricans get educated so we can keep the high paying jobs here, etc etc.
__________________
You can't reach the world with your talents. People are sick and tired of religious talents. People need a Holy Ghost annointed church with real fruits to reach out and touch their lives. ~ Pastor Burrell Crabtree
In fact I think that the insinuation of "hateful" Pentecostals is coming mostly from the fertile imaginations of bitter, backslidden ex Apostolics who are constantly trying to find a way to justify their actions. ~ strait shooter
www.scottysweb.com
www.chrisscottonline.com
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01-29-2013, 10:56 AM
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Registered Member
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Join Date: Feb 2009
Posts: 17,807
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Re: Robbery
Quote:
Originally Posted by CC1
I appreciate your honesty in saying "and some time when I was dumb and refused to pay the loan".
Too many times we don't do our part in meeting an obligation and then whine when it cost us in the end. When these things happen it is not satan persecuting us or even God sending us a trial. It is simply us bringing consequences onto ourselves. I have been there and done that! More than once sadly.
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I know it wasn't satan, or even God trying me.  I got mad at the school because it changed from one entity to another, and the new admin wanted us to re-take some courses which would lengthen the semesters and cost more. So I left and felt for a long time that I shouldn't have to pay since I didn't complete the courses. It wasn't until dear ole uncle sam began garnishing my fed tax returns that I decided I better start paying up. Still paying, but now I'm more upset that I didn't suck it up and finish since I'm stuck with the payments without the benefits of getting the degree.
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01-29-2013, 06:06 PM
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Registered Member
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Join Date: Apr 2007
Location: Wisconsin
Posts: 11,467
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Re: Robbery
Quote:
Originally Posted by CC1
My SIL's student loan bill after getting his Masters degree is almost what my house cost!
However I don't blame the government. How is it the governments fault? I had a student loan when I went to college and understood that nothing is free. I paid interest (a lot more than 6.8%).
BTW - 6.8% is not a bad interest rate. To compare a student loan interest rate with home mortgage rates is not really fair. How about comparing it to credit card interest rates? At that 6.8% is a bargain!
The idea of student loans is not for students to "let it sit and make interest on it". When that happens it just becomes one more government program intended to help people that gets misused.
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I really disagree with your thought process. Here is why. They give out quite a bit of (what at first seems to be) free and easy money to these kids who have no idea what a dollar earned means. These kids borrow more than they should and have boatloads back to pay.
Back in the day, tuition was cheap. Now, since guaranteed student loans have become available, college costs have skyrocketed! Do you see the correlation? The kids are paying some pretty hefty salaries and the like. Now, tuition is way, way up there and, while the Fed holds interest rates at zero, the government is charging 6.8%!!!
If you play your cards right (no pun intended) your credit cards will be zero percent interest, as ours are. I tried to pay off my loan today on my credit card so I could get 1% cash back. Then, I was going to turn around and pay the credit card off. Do you know they would not let me?? I think I know why. The government knows that you CANNOT DECLARE BANKRUPCY ON STUDENT LOAN DEBT. The benevolent government does not allow you out of your student loans for ANY reason, but they know that credit cards are unsecured debt. Looks like they are in bed with the credit card companies on that one.
If I am smart enough to make money on money they loan me rather than pay through the nose 6.8% interest forever more, more power to me, I'd say.  It is not misuse, it's smart use. The money was offered to me because I was in school. I took it and I payed it off.
__________________
Those who say it cannot be done should not interrupt the people doing it. ~Chinese Proverb
When I was young and clever, I wanted to change the world. Now that I am older and wiser, I strive to change myself. ~
Last edited by ILG; 01-29-2013 at 06:10 PM.
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01-29-2013, 06:07 PM
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Registered Member
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Join Date: Apr 2007
Location: Wisconsin
Posts: 11,467
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Re: Robbery
Quote:
Originally Posted by n david
I looked at my student loans and couldn't believe it. There are 3 different student loans that are now around $1200 to $1500 per loan. Because of loss of employment and some time when I was dumb and refused to pay on the loan, I've already paid more in interest than the principal amount of each loan.
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Guaranteed student loans are not really helping people, are they? It looks more like a money making scheme, frankly.
__________________
Those who say it cannot be done should not interrupt the people doing it. ~Chinese Proverb
When I was young and clever, I wanted to change the world. Now that I am older and wiser, I strive to change myself. ~
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01-29-2013, 06:09 PM
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Registered Member
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Join Date: Apr 2007
Location: Wisconsin
Posts: 11,467
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Re: Robbery
Quote:
Originally Posted by n david
I know it wasn't satan, or even God trying me. I got mad at the school because it changed from one entity to another, and the new admin wanted us to re-take some courses which would lengthen the semesters and cost more. So I left and felt for a long time that I shouldn't have to pay since I didn't complete the courses. It wasn't until dear ole uncle sam began garnishing my fed tax returns that I decided I better start paying up. Still paying, but now I'm more upset that I didn't suck it up and finish since I'm stuck with the payments without the benefits of getting the degree. |
You had a right to be mad. They should have grandfathered the old students in. But of course, not paying didn't help the situation.
__________________
Those who say it cannot be done should not interrupt the people doing it. ~Chinese Proverb
When I was young and clever, I wanted to change the world. Now that I am older and wiser, I strive to change myself. ~
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