Student Loan Forgiveness Act of 2012

adamar15

People are definitely not becoming teachers down here for the salary.  We treat our teachers like shiiit.

crfische

College costs vary on the kind of school you go to, and how long you go to school.

Also, up here I think teachers start at about 40,000. But keep in mind, that's in FARGO NORTH DAKOTA where they living is easy and cheap. Our master's degree or special education teachers make between 60-65,000. IN NORTH DAKOTA. That's a pretty good salary considering the cost of living up here.

Anysunrise

In Response to <a href="http://forums.theknot.com/Sites/theknot/Pages/Main.aspx/wedding-boards_etiquette_student-loan-forgiveness-act-of-2012?plckFindPostKey=Cat:Wedding%20BoardsForum:9Discussion:48877555-724b-434d-af30-714514611108Post:f66d3e0b-aab6-48e5-bb3e-94a709bdadab">Re: Student Loan Forgiveness Act of 2012</a>:
[QUOTE]Ya, the system is totally flawed.  Plus colleges take advantage of every situation possible.<strong>  My step brother came to a program at a college up here, he is an American.  The normal college tuition is around $5-6k a year for a 2 year program, so $12,000 for the whole program.  He was an "international" student and his tuition was $30k for the same program, because he wasn't a Canadian.  It's stupid. </strong> Education costs way too much money.  Up here they used to have OAC (gr 13) in high schools, but they changed the curriculum to have everyone graduate at gr 12, I was the last OAC year.  How it used to work is that those with a gr 12 diploma were only eligible for college, but if you had to have OAC for uni.  Now you just need to be in an academic program for Uni.  Anyway, then they allowed students to come back for a gap year between HS and PSE so they could take more courses if they wanted to.  Now they took it away and you have to pay for HS classes if you want to stick around.  I think it's brutal.  It's punishing those who don't go away right away to school or want more programs.  The whole education program in NA is screwed up. 
Posted by Habs2Hart[/QUOTE]

<div>Well, yeah, if the school is publically funded then it's the tax dollars of the people who live there that are paying for the school. I don't see a problem with charging someone whose parents haven't been contributing to that for years more. Maybe not THAT much more, but it still makes sense.</div><div>
</div><div>Also, that's the major reason I went with a fiance visa over a student visa, lol. If I didn't have to pay twice again as much for school, I probably would've married H after I was done just because that was always my plan.</div>

adamar15

Gosh, Fish, not all of us want to move to North Dakota.  You can keep your snow, thankyouverymuch.

crfische

I just looked up what it costs to go to NDSU, and it's a little under 8,000 a year.

But go to a private college in the same town, Concordia, is 37,860 a year.

So, it can vary pretty greatly.

crfische

I secretly just want you all to move up here and live with me.

I'll supply the beer.

Snippylynn

In Response to <a href="http://forums.theknot.com/Sites/theknot/Pages/Main.aspx/wedding-boards_etiquette_student-loan-forgiveness-act-of-2012?plckFindPostKey=Cat:Wedding%20BoardsForum:9Discussion:48877555-724b-434d-af30-714514611108Post:2fff301e-3e5f-4236-a16b-ae53428072e1">Re: Student Loan Forgiveness Act of 2012</a>:
[QUOTE]In Response to Re: Student Loan Forgiveness Act of 2012 : But then they'd lose out on the interest payments, which could limit the amount of future loans they'd be able to give.  That in turn could make it so that less people could go to college, meaning colleges would raise tuition to compensate for losing students, and then kids would have to take out even more debt, which they couldn't pay back.  Then of course they'd expect it to be forgiven because it was forgiven for people before and the vicious cycle starts all over again. It's a nice idea in theory, but the ramifications of it in practice, even if we could fund it somehow are far more damaging than helping people just pay off their current loans and educating future borrowers on how to do it more responsibly.  Along with, of course, reigning in the astronomical education costs. 
Posted by jemmini6[/QUOTE]

Not necessarily.  One of the primary reasons why higher education has had to raise tuition iis due to less funding from the government. Now. Let's say that as part of the forgiveness plan, there would be an Education Tax levied nationwide (and thus, ALL people's student loan debt is forgiven just for the sake of argument) that would then not only pay off the nation's educational debt collectively (only the government sponsored debt, btw) while also providing funding for universities, colleges and other institutions.

Meanwhile, people all over the country are able to fund new business with their extra cash, are able to pay for more goods, go on trips... the entire economy would pick up.

I'm just saying that there IS sound economic thought behind it. But there definitely has to be something that takes up that deficit, and unfortunately, Americans will never agree to collective paydown of debt OR a raise in taxes.

Habs2Hart

Any - Except my dad is Canadian... had a residence in Canada, so he is paying taxes.  That's what's messed up.  I get charging more, but more than twice is not cool. 

AllAboutTheBenjamin

In Response to <a href="http://forums.theknot.com/Sites/theknot/Pages/Main.aspx/wedding-boards_etiquette_student-loan-forgiveness-act-of-2012?plckFindPostKey=Cat:Wedding%20BoardsForum:9Discussion:48877555-724b-434d-af30-714514611108Post:e2121227-a6a2-4a1f-8753-036c67048550">Re: Student Loan Forgiveness Act of 2012</a>:
[QUOTE]I just looked up what it costs to go to NDSU, and it's a little under 8,000 a year. But go to a private college in the same town, Concordia, is 37,860 a year. So, it can vary pretty greatly.
Posted by crfische[/QUOTE]

Tell it.

adamar15

In Response to <a href="http://forums.theknot.com/Sites/theknot/Pages/Main.aspx/wedding-boards_etiquette_student-loan-forgiveness-act-of-2012?plckFindPostKey=Cat:Wedding BoardsForum:9Discussion:48877555-724b-434d-af30-714514611108Post:f027d7c2-3873-4b82-a2a3-5294498b7ad7">Re: Student Loan Forgiveness Act of 2012</a>:
[QUOTE]I secretly just want you all to move up here and live with me.<strong> I'll supply the beer.
</strong>Posted by crfische[/QUOTE]

Well why didn't you say that in the first place.  Sign me up!

BostonJordan

In Response to <a href="http://forums.theknot.com/Sites/theknot/Pages/Main.aspx/wedding-boards_etiquette_student-loan-forgiveness-act-of-2012?plckFindPostKey=Cat:Wedding%20BoardsForum:9Discussion:48877555-724b-434d-af30-714514611108Post:e2121227-a6a2-4a1f-8753-036c67048550">Re: Student Loan Forgiveness Act of 2012</a>:
[QUOTE]<u>I just looked up what it costs to go to NDSU, and it's a little under 8,000 a year.</u> But go to a private college in the same town, Concordia, is 37,860 a year. So, it can vary pretty greatly.
Posted by crfische[/QUOTE]

If I was more "adult" at 17/18, I would have left home for school because that's half the price of instate schools in MA. Crazy.

ahhhitsshannyn

I went to community college for my associates and it cost less than $5k. And I am being generous with that number. My friend who goes to the state school said it costs around $3k per quarter, so around $12k if you go summer/winter as well.

Anysunrise

In Response to <a href="http://forums.theknot.com/Sites/theknot/Pages/Main.aspx/wedding-boards_etiquette_student-loan-forgiveness-act-of-2012?plckFindPostKey=Cat:Wedding%20BoardsForum:9Discussion:48877555-724b-434d-af30-714514611108Post:9c87583f-47e0-4abb-aa62-7e42468ea4b6">Re: Student Loan Forgiveness Act of 2012</a>:
[QUOTE]How much does college/university cost in other parts of the country? I went to in-state university and it was $10k a semester....$80k at the end. I worked throughout to pay for housing/books/bills/food. I think to wig out over $90k is a bit extreme because to me that sounds about right. I really wouldn't complain about it.
Posted by BostonJordan[/QUOTE]

<div>I'm in the 4th cheapest city as far as COL in the US. I'm going to the local branch of University of Arkansas, and for 17 credit hours + fees, my cost pre-scholarship for my first semester is 3k. And if I bought my books from the campus bookstore, they'd only be about 450, so considering what I have to actually pay for, it's pretty fricken cheap. I'm transfering up to the actual U of A after two years, but the price per credit hour is only about 30 bucks more. </div>

bmlynch

I totally call bullshit on this, too.
I worked my butt off in hs for scholarships, then worked at least two jobs all through college, in addition to taking out some loans.  When I couldn't find a job right out of college, I buested my ass waiting tables and bartending so I wouldn't fall behind on my bills.  I worked really hard and now have a pretty decent job in my field.  I NEVER ONCE expected someone else to pay my student loans for me, or any other bill for that matter.
I'm pretty sure we all signed the SAME promisory notes and had to take the SAME pre-loan counseling before FAFSA would allow us acceptance of loan funds.  Everyone knew what they were getting into.
I bet these graduates also expect to be handed cushy jobs making 6 figures a year, too, instead of working hard to get there.  What will these kids want paid for next, should we just starting handing them homes and swanky vaca's.... where does accountablilty kick in???

crfische

RIGHT!?

I went to Concordia. I loved it, it was a good education, but if I were to do it over, I'd probably have gone to NDSU. It just would have made more sense. My folks, for some odd reason, were hell bent on me going there. Plus, most of the kids there are/were kinda squares.

Habs2Hart

That's why they needed you, Fishface.  You needed to round 'em off. 

Anysunrise

In Response to <a href="http://forums.theknot.com/Sites/theknot/Pages/Main.aspx/wedding-boards_etiquette_student-loan-forgiveness-act-of-2012?plckFindPostKey=Cat:Wedding%20BoardsForum:9Discussion:48877555-724b-434d-af30-714514611108Post:33296164-a351-47a9-9cd8-80908b33839d">Re: Student Loan Forgiveness Act of 2012</a>:
[QUOTE]Any - Except my dad is Canadian... had a residence in Canada, so he is paying taxes.  That's what's messed up.  I get charging more, but more than twice is not cool. 
Posted by Habs2Hart[/QUOTE]

<div>Yeah, like I said, I totally agree about the huge difference between in state and out.</div>

Snippylynn

Also! Let's not forget that this bill proposal doesn't say "let's forgive everyone!" it says: Let's forgive the people who have paid back X amount in X time. This provides incentive for people to get the show on the road and just pay that amount. Which, of course, includes interest. So now, instead of having (people like me) who have to claim hardship or inability to pay, you've got people who are working their finances differently so they CAN pay X amount towards their loan by deadline so they can get the rest forgiven.

It's a win-win situation. The government probably makes enough off interest in this time to make money, while also ensuring that former students are incentivized to pay down their loans which gives a consistent flow of money BACK into the governments pockets.

I'd say that, right now, the government is suffering more from NON-payment of student loans than it would be if everyone paid 10% and then forgiven.

AllAboutTheBenjamin

I went to UND and they are way too busy up there getting shitface drunk to charge too much for tuition.  Winning everywhere.

crfische

I was THAT GIRL everywhere I went.

crfische

I would have never guessed it was cheaper to go to UND than NDSU, but I'll be darned, it sure is!

Snippylynn

In-state tuition at Michigan State when I was there was about $8000 a year, including room and board. I stayed on-campus because it was cheaper, long run (i wouldn't need a car if I was on campus) and then I could always guarantee 10 meals a week, which was a good thing. On Sundays when dinner wasn't served, i ate popcorn or ramen.

jacelia

In Response to <a href="http://forums.theknot.com/Sites/theknot/Pages/Main.aspx/wedding-boards_etiquette_student-loan-forgiveness-act-of-2012?plckFindPostKey=Cat:Wedding BoardsForum:9Discussion:48877555-724b-434d-af30-714514611108Post:453d3b3d-c920-4ebe-987e-b75e8ed49213">Re: Student Loan Forgiveness Act of 2012</a>:
[QUOTE]In Response to Re: Student Loan Forgiveness Act of 2012 : Wait a second ... so 'discretionary income' is essentially 'fun' money? Well hell, I know H and I could pay 10% of that over the course of ten years.
Posted by cfaszews25[/QUOTE]

Not exactly. In terms of income based repayment and loan forgiveness, discretionary income is defined as the difference between your adjusted gross income and 150% of the federal poverty level.

Oh, and hi, I've been lurking for a bit.

crfische

I get what you're saying, Snips, but this plan doesn't seem like it's very well thought out.

Also. What IS the penalty if you don't repay your student loans? I mean, I don't think that harsher punishment for NOT paying your loans is the answer, I'm just seriously wondering.

AllAboutTheBenjamin

UND has its fair share of expensive ass programs but yeah for the most part, pretty affordable

gurrlballa10

In Response to <a href="http://forums.theknot.com/Sites/theknot/Pages/Main.aspx/wedding-boards_etiquette_student-loan-forgiveness-act-of-2012?plckFindPostKey=Cat:Wedding BoardsForum:9Discussion:48877555-724b-434d-af30-714514611108Post:aae7bc91-7db8-4744-a459-0405ea828b58">Re: Student Loan Forgiveness Act of 2012</a>:
[QUOTE]Also! Let's not forget that this bill proposal doesn't say "let's forgive everyone!" it says: L<strong>et's forgive the people who have paid back X amount in X time.</strong>This provides incentive for people to get the show on the road and just pay that amount. Which, of course, includes interest. So now, instead of having (people like me) who have to claim hardship or inability to pay, you've got people who are working their finances differently so they CAN pay X amount towards their loan by deadline so they can get the rest forgiven. It's a win-win situation. The government probably makes enough off interest in this time to make money, while also ensuring that former students are incentivized to pay down their loans which gives a consistent flow of money BACK into the governments pockets. I'd say that, right now, the government is suffering more from NON-payment of student loans than it would be if everyone paid 10% and then forgiven.
Posted by Snippylynn[/QUOTE]

The problem is, is that the bill is stating 10% of your discretionary income in 10 years.  Well, I can make my DI virtually nil if I worked at it hard enough.  Whose to say what are the requirements for someone's DI?

Snippylynn

In Response to <a href="http://forums.theknot.com/Sites/theknot/Pages/Main.aspx/wedding-boards_etiquette_student-loan-forgiveness-act-of-2012?plckFindPostKey=Cat:Wedding%20BoardsForum:9Discussion:48877555-724b-434d-af30-714514611108Post:b19dc730-c065-41f0-b9c6-ce180b7fb07f">Re: Student Loan Forgiveness Act of 2012</a>:
[QUOTE]I get what you're saying, Snips, but this plan doesn't seem like it's very well thought out. Also. What IS the penalty if you don't repay your student loans? I mean, I don't think that harsher punishment for NOT paying your loans is the answer, I'm just seriously wondering.
Posted by crfische[/QUOTE]
Well, it's just like any loan that you don't pay back. They send you to collection, blah blah.

jacelia

In Response to <a href="http://forums.theknot.com/Sites/theknot/Pages/Main.aspx/wedding-boards_etiquette_student-loan-forgiveness-act-of-2012?plckFindPostKey=Cat:Wedding BoardsForum:9Discussion:48877555-724b-434d-af30-714514611108Post:9c162c3e-9465-49e5-a281-38221cb33a97">Re: Student Loan Forgiveness Act of 2012</a>:
[QUOTE]In Response to Re: Student Loan Forgiveness Act of 2012 : The problem is, is that the bill is stating 10% of your discretionary income in 10 years.  Well, I can make my DI virtually nil if I worked at it hard enough.  Whose to say what are the requirements for someone's DI?
Posted by gurrlballa10[/QUOTE]


Discretionary income is probably defined somewhere in the act. I haven't read it so I can't say for sure. But to get on the income based repayment plan for student loans now, there is a very strict definition of DI. You can't just artificially deflate it. It's based on the AGI on your fed tax return less 150% of the federal poverty level. Ex- for someone making $60K a year, disretionary income is $43,245. No negotiations.

This is a good link: <a href="http://www.finaid.org/loans/ibr.phtml" rel="nofollow">http://www.finaid.org/loans/ibr.phtml</a>

Sorry to harp on this point - I graduated from law school at the peak of the recession - unfortunately I know a lot about this.

amys325

In Response to <a href="http://forums.theknot.com/Sites/theknot/Pages/Main.aspx/wedding-boards_etiquette_student-loan-forgiveness-act-of-2012?plckFindPostKey=Cat:Wedding%20BoardsForum:9Discussion:48877555-724b-434d-af30-714514611108Post:520d7548-a1f8-4c39-9922-c7ed2804bb93">Re: Student Loan Forgiveness Act of 2012</a>:
[QUOTE]UND has its fair share of expensive ass programs but yeah for the most part, pretty affordable :)
Posted by AllAboutTheBenjamin[/QUOTE]

<div>Threadjack.</div><div>
</div><div>I just saw the outcome of UNDs nickname.  How do you feel about it?</div>

strlzfan11

Defaulting on student loans don't come off your credit report, though.

ETA:  Apparently it can, but it's more complicated than it is for say credit card debts.