Student Loan Forgiveness Act of 2012

baystateapple

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:d308e3c7-8b9a-4750-83ba-177dfe5fe94d">Re: Student Loan Forgiveness Act of 2012</a>:
[QUOTE]In Response to Re: Student Loan Forgiveness Act of 2012 : I can't explain it.  When I type on my phone on the mobile site I used dollar signs and hyphens and they just don't show up when I post.  I haven't posted from the mobile site in awhile (from my phone) and it always takes those out.  It doesn't make any sense to me. But yes, my point.  The housing at my school is 8-9k a year, but it is going up about $420 every year evenly.  Which means it isn't inflatation or higher costs, it is a steady $420 every year.  Incoming freshman this year (who are required to live on campus) will pay at least $9000 for housing, for 9 months for about a 162sq. ft. room, including food.  I will spend less than that in a year on my apartment.
Posted by rsanna[/QUOTE]

I think a lot of it depends on location, cost of living, etc.

I paid about $9K a year for my dorm room 3 meals five days a week, 2 meals on weekends.  Since I was only in school nine months out of the year, that gets broken down into about $1K a month.  $1K a month for rent, all utilities (electricity, heat, hot water, internet, cable), 24-hour security, and 18 meals a week.  I know that I am paying well over that right now for all of those things (with the exception of security, because I don't have that obviously).  Granted, I live in a bigger apartment, but I don't think that's that unreasonable.

ETA: The COL in New England is pretty high, so maybe my opinion is clouded by that.  But even so.

HappinessByTheKilowatt

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:7a41872b-992f-4b77-83d4-4e259995b834">Re: Student Loan Forgiveness Act of 2012</a>:
[QUOTE]In Response to Re: Student Loan Forgiveness Act of 2012 : Well, since most dorms are closed during the summers and holidays, that's $1000 a month for just housing.  I don't know what the prices are like where she lives, but I cannot imagine sharing an apartment with a few roommates not being less than that. Plus the whole having a job to be able to pay for it part.
Posted by StageManager14[/QUOTE]

Yeah, but it's housing and three meals a day she is talking about, correct? Or am I misreading?

I am not saying it justifies the price increase, but it doesn't necessarily seem like the most accurate comparison. I still think colleges are stupid expensive and that's the problem that needs to be fixed first.

avolker1

I have an enormous amount of student debt from undergrad and grad school but it was my choice to continue my education.  Even with a partial scholarship I moved out of state to attend a private grad school which cost a lot so it's my responsibility to pay it back now.  It seriously sucked when I first graduated and had to take a very low paying job where I had to walk around knocking on doors to get signatures, sometimes in the dark and by myself.  But I paid my dues and now I have a great job largely due to my Masters. 

For what it's worth though, my sister didn't go to college at all and started working right after high school and makes more money than I do and doesn't have a ton of debt to worry about.  My FI got his bachelor's in history and makes more than I do by a few thousand and also has zero loans to worry about. 

Any way while I'm happy with my degrees and am happy to be in a field I enjoy, I still sometimes wish I had planned my finances better while I was a student because even though I have a comfortable salary I still pay almost $900 a month.  Education is stressed as being very important but many people are just as successful, if not more, without it and they can better enjoy the money they make.
 
Definitely agree with other posts about the need to control education costs and interest rates before forgiving student debt.  

rsanna

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:0ed461e1-d994-496a-8d74-d62063d22091">Re: Student Loan Forgiveness Act of 2012</a>:
[QUOTE]In Response to Re: Student Loan Forgiveness Act of 2012 : Yeah, but it's housing and three meals a day she is talking about, correct? Or am I misreading? I am not saying it justifies the price increase, but it doesn't necessarily seem like the most accurate comparison. I still think colleges are stupid expensive and that's the problem that needs to be fixed first.
Posted by HappinessByTheKilowatt[/QUOTE]

<div>I am living with my FI (and we could even cut our costs even more if we wanted to get a roommate) and we pay about $600 a month for everything, foods, utilities, cable, internet, and my cat and we are in a 2 bedroom unit. I was going to be living with a group of friends, but one of them got an RA job and one of them is going to Berlin next spring so that plan fell through, and I would have been paying about $100-200 less per month if that had worked out.</div><div>
</div><div>So yeah, off campus is much cheaper. But my point is, there is no reason to have a consistent increase of over $400 a year for living where you share less than 200sq. ft. with another person, and I was in one of the cheapest dorms.  Like PP have said it doesn't account for the summer, where you have to find some place to stay or pay about $4000 for a summer housing contract.  I'm just saying it is ridiculous and that it's not just tuition where they totally gouge out students.</div>

HappinessByTheKilowatt

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:2619ec94-7df0-4616-ab13-0f254826884a">Re: Student Loan Forgiveness Act of 2012</a>:
[QUOTE]In Response to Re: Student Loan Forgiveness Act of 2012 : I am living with my FI (and we could even cut our costs even more if we wanted to get a roommate) and we pay about $600 a month for everything, foods, utilities, cable, internet, and my cat and we are in a 2 bedroom unit. I was going to be living with a group of friends, but one of them got an RA job and one of them is going to Berlin next spring so that plan fell through, and I would have been paying about $100-200 less per month if that had worked out. So yeah, off campus is much cheaper. But my point is, there is no reason to have a consistent increase of over $400 a year for living where you share less than 200sq. ft. with another person, and I was in one of the cheapest dorms.  Like PP have said it doesn't account for the summer, where you have to find some place to stay or pay about $4000 for a summer housing contract.  I'm just saying it is ridiculous and that it's not just tuition where they totally gouge out students.
Posted by rsanna[/QUOTE]

$600 each or total? Just out of curiosity. I thought it was cheap where I live, but shiiiiiit, I might move to Omaha.

Like I said, I definitely agree that the consistent increase is crazy. Do the dorm costs also pay for things like student wi-fi, student centers, etc. or are those separate costs? I have no knowledge of that, which is why I am asking. I know at my community college, they charged those fees separately, but there was no on campus housing to make it all encompassing. I mean, I can't imagine that housing a ton of students is cheap. Money goes into things like security, dorm repairs, etc. too that you don't think about. But a steady $420 a year does seem like a lot.

ETA: Spelling.

HappinessByTheKilowatt

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:62bcd54c-4c42-4ce4-984e-7d0ee8f265cb">Re:Student Loan Forgiveness Act of 2012</a>:
[QUOTE]In Response to Re:Student Loan Forgiveness Act of 2012: Is it? Didn't know that. Meal plans aren't counted into housing here. It's a separate purchase. So in that case, yeah it's probably cheaper.
Posted by StageManager14[/QUOTE]

Maybe it depends on the school? I thought some of my friends had to purchase separate meal plans too.

College was a really long time ago. Maybe I am making that up in my head.

Kate61487

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:7a49a374-ba86-4c35-bf45-e4e3eda4ae75">Re:Student Loan Forgiveness Act of 2012</a>:
[QUOTE]In Response to Re:Student Loan Forgiveness Act of 2012 : Maybe it depends on the school? I thought some of my friends had to purchase separate meal plans too. College was a really long time ago. Maybe I am making that up in my head.
Posted by HappinessByTheKilowatt[/QUOTE]

Our meal plans were seperate b/c there were different options.  some people paid for 3 meals a day while others only paid for 2.  I never ate breakfast in the cafeteria, I kept cereal and milk in my dorm room, so 3 meals a day would have been a waste.

But then our base was probably cheaper than one that would have included food...  It definitely did include everything else:  internet, common space, printing in the computer lab, free movie rentals from the front desk, etc.

rsanna

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:fedf6ad4-0aca-4d78-ab06-c14180509794">Re: Student Loan Forgiveness Act of 2012</a>:
[QUOTE]In Response to Re: Student Loan Forgiveness Act of 2012 : $600 each or total? Just out of curiosity. I thought it was cheap where I live, but shiiiiiit, I might move to Omaha. Like I said, I definitely agree that the consistent increase is crazy. Do the dorm costs also pay for things like student wi-fi, student centers, etc. or are those separate costs? I have no knowledge of that, which is why I am asking. I know at my community college, they charged those fees separately, but there was no on campus housing to make it all encompassing. I mean, I can't imagine that housing a ton of students is cheap. Money goes into things like security, dorm repairs, etc. too that you don't think about. But a steady $420 a year does seem like a lot. ETA: Spelling.
Posted by HappinessByTheKilowatt[/QUOTE]

It is each, but we are in a 2-bedroom, so it would be the same if I wasn't living with him but with a roommate instead.

We have fees, it is about $700 a semester, which are categorized as health, technology, library, and general fees.  But most of that, I think, goes towards clubs and stuff on campus.  The dorms do include wi-fi/internet and cable and at mine the cost does include food (3 meals 5 days a week, with an option of 3 meals 5 days a week and 4 meals on the weekends for an extra $100).  But only if you are traditional dorms.  My school has some apartment style housing (2 and 4-bedrooms) and they are about 5-6k per person and that doesn't include food.

On that topic though, they will be getting at least $18,000 per dorm room next year for the 9 months, compared to the about $14-15,000 my FI and I are paying for our apartment for the entire year.

EDIT: This doesn't include printing, just use of the computers.  Printing costs money, unless you are an honors student then you just pay for paper.

iriscarmendiaz

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:aa31e68b-7cc6-481a-8c5d-039331822b47">Re: Student Loan Forgiveness Act of 2012</a>:
[QUOTE]In Response to Re: Student Loan Forgiveness Act of 2012 : And Mark Zuckerberg never finished his degree. There are always exceptions, but I still say a college degree, in general, is going to make you more marketable and have a higher earning potential than a high school diploma. And that's likely moreso true these days than it was when our parents and grandparents were growing up. Now, should you choose your college degree path based on what you can afford and not go to Harvard for Basketweaving? Yes. ETA: added sentence for clarity.
Posted by Meegles4[/QUOTE]

Mark Zuckerberg was also a programming genius. Emphasis on was.

iriscarmendiaz

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:99b29082-3bf6-4fb7-bfc2-6b6ae122759e">Re: Student Loan Forgiveness Act of 2012</a>:
[QUOTE]My housing (not food or anything, just housing off campus) for 6 years was $29,000 and I lived in pretty decent rental houses.  How the hell does one spend 89K on housing unless you went for 15-20 years or rented a 4bdrm to yourself. 
Posted by Habs2Hart[/QUOTE]

My housing was roughly $17,000 for a 1 bedroom apartment for last year alone. And trust me, this is no luxury apartment.

It really depends on where you live. I lived my whole life in NYC and then I moved to the west coast. Housing just got more expensive on the west coast. Go figure.

**I should also mention that I'm no longer in school, and that's just what I pay for housing. I may work in Silicon Valley, but that's just as a contractor. And I should mention, I work 33 miles away, so it's not like I live in the immediate area, which is even MORE expensive

HuckSC

My problem with the whole student loans is that the loans are backed by the government. They cannot be forgiven during bankruptcy, therefore the lenders have NO need to filter who they loan money to. We don't do this for any other loans like mortgages so why do we let our young people with NO work history to take out huge amounts of money. These lenders will freely hand out money to anyone because they are garunteed to get paid back. Once this changes, then the lending practices will change and everyone won't be able to get loans. Yes we need people to go to college but the people who are in the "proven fields" will be loaned more because they will have the ability to pay it back where the people who get degrees in the "softer professions" won't have as many options.

This is coming from someone who had a pretty good scholarship to a good state school, had most of her tuition paid. But I had to pay for housing and food. I was lucky and got an assistantship for grad school which paid for tuition and gave me a monthly stipend, so I escaped with only 5k in debt for grad school. Total debt is 20k and I feel very lucky.

futuremrsbruno

I'm on the fence with this. I believe that when you make the decision to go to college, you take on the responsibility of paying for it...

that being said, my loans suck asss and I would be very, very grateful if they were forgiven. I think the problem is in the student loan companies. I got out of college when the collapse had just happened. My entire college experience I was told that when I was done I could consolidate each loan into 1 principal and 1 interest rate. Because of the collapse, the student loan companies stopped that. Now I'm paying on each loan for each semester and the interest rate for each. My payoff amount jumped an additional $40k. I'm now paying back 6 figures for a state school.

I also hate that despite what you can afford to pay back, student loan companies won't change what your amount is. Zero flexibility when people are laid off is not cool.