Obama to sign new student aid initiative

[Modbert]

Yeah, I know ... I get all that. Was just wondering if some kind of 'volunteering condition' was tucked in there somewhere. I don't trust the government and since our loans are now with them . . . . .

No. I've read the entire contract, I have to sign. I would of seen it somewhere in there and I read any contract like a hawk.

I know you don't trust the Government. But you have to understand, in the past, the bank were just the middlemen. The loans were ALWAYS with the government since it was their money being loaned out.

 

[boedicca]

The government can change those terms and conditions by passing legislation or new regulations at any time.

 

[Modbert]

Let's play a game, who would know more about college loans?

Someone who actually has to sign the contracts to get one already and is already receiving them. (Me)

Or

A Ignorant Republican who is talking out of her ass (Boe)

 

[Zoom-boing]

Wasn't there something about if, after you graduate, you go work for the government your loans are forgiven after ten years, otherwise they're forgiven after 20 years? Something like that. I can't remember.

 

[Modbert]

The government can change those terms and conditions by passing legislation or new regulations at any time.

New regulations about what exactly? Do tell.

You're talking out of your ass. I see you talking in what ifs and buts. I'm talking about the facts.

Get with reality.

 

[boedicca]

Let's play a game, who would know more about college loans?

Someone who actually has to sign the contracts to get one already and is already receiving them. (Me)

Or

A Ignorant Republican who is talking out of her ass (Boe)

*cough* TARP *cough*


If Wall Street Banks, who have some of the baddest Mad Dog Lawyers, on the planet can't keep the government from changing their deals after the fact, do you really think your Ts&Cs are iron clad?

Poor Doggie The Bubble Boy - you'll learn, after you have an ungodly amount of debt and Uncle Bammy's Boys decide they want a better return.

 

[WillowTree]

gul·li·ble [guhl-uh-buhl]

–adjective

1. easily deceived or cheated.

Origin:
1815–25; gull2 + -ible

—Related forms
gul·li·bil·i·ty, noun
gul·li·bly, adverb

—Synonyms
credulous, trusting, naive, innocent, simple, green, DOGBERT

that pretty much sums up the democwats.. they voted for the war remember??

 

[Modbert]

Wasn't there something about if, after you graduate, you go work for the government your loans are forgiven after ten years, otherwise they're forgiven after 20 years? Something like that. I can't remember.

You're thinking about this.

FinAid | Loans | Loan Forgiveness

 

[boedicca]

The government can change those terms and conditions by passing legislation or new regulations at any time.

New regulations about what exactly? Do tell.

You're talking out of your ass. I see you talking in what ifs and buts. I'm talking about the facts.

Get with reality.

You need to pay attention to what is happening in DC.

Just sayin'.

 

[del]

lol 10% interest,, that's a damn fine deal.. don't take it. shit,, you can buy a car for zero percent.

No, it will be capped at 10%. As in, it cannot go any higher than 10%.

Here's a little clue.

It will be raised to 10% very quickly as the federal deficit worsens. The Treasury auctions are already requiring higher interest rates. Other rates will follow suit.

i thought it meant that the total payments couldn't be more than 10% of income of individual after graduation. whatever.

if i had it to do over again, i would be a licensed electrician rather than a BSEE. you meet a better class of people and the money's about the same.

 

[Modbert]

*cough* TARP *cough*


If Wall Street Banks, who have some of the baddest Mad Dog Lawyers, on the planet can't keep the government from changing their deals after the fact, do you really think your Ts&Cs are iron clad?

Poor Doggie The Bubble Boy - you'll learn, after you have an ungodly amount of debt and Uncle Bammy's Boys decide they want a better return.

All I keep is seeing ignorant ifs backed up without any facts. Now why would the Democrats single handily commit hari-kari by screwing over one of their biggest group of supporters?

Besides, you have no idea how much I'm taking out of loans, so you continue to speak out of your ass.

 

[boedicca]

Just keep thinking that you're getting a good deal, if that gives you comfort.

For those of use who have some real life experience, we realize you are being used as a chump.

 

[Modbert]

Just keep thinking that you're getting a good deal, if that gives you comfort.

For those of use who have some real life experience, we realize you are being used as a chump.

Except real life experiences have no water here when you have no clue what you're talking about. You don't even understand the simple concept of a middleman, how can I expect you to understand the rest of this?

 

[boedicca]

My final post in this thread:

gul·li·ble [guhl-uh-buhl]

–adjective

1. easily deceived or cheated.

Origin:
1815–25; gull2 + -ible

—Related forms
gul·li·bil·i·ty, noun
gul·li·bly, adverb

—Synonyms
credulous, trusting, naive, innocent, simple, green, DOGBERT

Toodles!

 

[Modbert]

And that sums up your entire contribution to this thread, a bunch of insults but no real factual evidence.

Hopefully I was able to answer all your questions by the way Zoom. I'd be happy to answer any others that I can.

 

[Zoom-boing]

No, it will be capped at 10%. As in, it cannot go any higher than 10%.

Here's a little clue.

It will be raised to 10% very quickly as the federal deficit worsens. The Treasury auctions are already requiring higher interest rates. Other rates will follow suit.

i thought it meant that the total payments couldn't be more than 10% of income of individual after graduation. whatever.

if i had it to do over again, i would be a licensed electrician rather than a BSEE. you meet a better class of people and the money's about the same.

It does.

What I'm wondering is suppose you graduate and get a job making say $30K w/20K to pay off in loans. This means your capped at $3,000/yr repayment. Suppose you win the lottery for $100K (just humor me). Does the 10% cap mean that you can't pay off the loan but rather, have to take 7 years or so to pay if off? Does the cap mean you can't pay the loans off early? Anyone know the answer to this?

 

[DiamondDave]

Government is not and should never be your private lending institution... more bullshit from our power hungry government

 

[Modbert]

It does.

What I'm wondering is suppose you graduate and get a job making say $30K w/20K to pay off in loans. This means your capped at $3,000/yr repayment. Suppose you win the lottery for $100K (just humor me). Does the 10% cap mean that you can't pay off the loan but rather, have to take 7 years or so to pay if off? Does the cap mean you can't pay the loans off early? Anyone know the answer to this?

As far as I know, if you're capped at $3,000/yr repayment, that means you only have to pay up to $3,000 a year. Otherwise you would fall into default at some point.

Because you have to pay a certain amount each year obviously.

 

[Zoom-boing]

Government is not and should never be your private lending institution... more bullshit from our power hungry government

These student loans were coming from the government to begin with.

 

[Zoom-boing]

It does.

What I'm wondering is suppose you graduate and get a job making say $30K w/20K to pay off in loans. This means your capped at $3,000/yr repayment. Suppose you win the lottery for $100K (just humor me). Does the 10% cap mean that you can't pay off the loan but rather, have to take 7 years or so to pay if off? Does the cap mean you can't pay the loans off early? Anyone know the answer to this?

As far as I know, if you're capped at $3,000/yr repayment, that means you only have to pay up to $3,000 a year. Otherwise you would fall into default at some point.

Because you have to pay a certain amount each year obviously.

Didn't quite answer my question . . . but thanks. I"ll try and find the answer.