Petition to Get the Gov't to Forgive Student Loans vol. Stimulate the Economy!!

[nako xl]

I just got this invite on Facebook and it's got me thinking...

Instead of giving hundreds of billions of our tax dollars to financial institutions in the hopes of a mythical trickle down, why doesn't the government invest in its citizens by forgiving outstanding student loans? The middle class is saddled in student debt and this will free up plenty of money to kick start our economy.

WE HAVE SURPASSED 40,000 SIGNATURES AND THE PETITION IS ON ITS WAY TO THE PRESIDENT!

We have kept the petition open and have set a new goal of 50,000 signatures. So, please sign and spread the word.

Sign the petition here:

http://www.thepetitionsite.com/1/Real-Economic-Stimulus-Forgive-Student-Loans

Facebook Page

I read a figure somewhere that all the money given in the bank bailout that bought the bad loans would have paid off 90 percent of the country'soutstanding mortgages which then would have freed people up to spend again. Student loans and higher ed. should be the next thing reformed.

 

[balloonoboy]

Does this have anything to do with private student loans?

That's where all the debt is accrued.

 

[hellaones]

sounds good but...

 

[nako xl]

Originally Posted by balloonoboy

Does this have anything to do with private student loans?

That's where all the debt is accrued.

most people have mixed student loan debts, because I know Staffords didn't cover everything for my roommate.

It's absurd how we're burdening the youth. The price of education is outrageous and saddling people with that kind of debt right out the gate isridiculous.

In a year when I graduate i'm going to be $210,000 in debt.

 

[black racer x]

They're going to have to do something. There's just no way all these students are going to be able to pay it back.

 

[j23s]

This won't happen, don't mean to be a kill joy just being realistic

 

[mattdaincredible]

it prob wont happen

 

[veryanalytical85]

Originally Posted by J23S

This won't happen, don't mean to be a kill joy just being realistic

^ Co-sign, hence I'm on the search for a pretty good entry level position for a career. I doubt there's any "forgiveness" when it comes tostudent loans otherwise get ready to sign those deferment paperwork and/or see your credit score suffer harshly.

 

[nostrandave68]

Originally Posted by Nako XL

Originally Posted by balloonoboy

Does this have anything to do with private student loans?

That's where all the debt is accrued.

most people have mixed student loan debts, because I know Staffords didn't cover everything for my roommate.

It's absurd how we're burdening the youth. The price of education is outrageous and saddling people with that kind of debt right out the gate is ridiculous.

In a year when I graduate i'm going to be $210,000 in debt.

R.I.P

 

[balloonoboy]

210k is a lot. I hope you're graduating from grad school.

In a related note, I've started making my loan payments. If I choose to go to grad school, can those loans be deferred if they are current/in goodstanding? Will the interest continue to pile up?

 

[b smooth 202]

Do petitions ever work?

 

[veryanalytical85]

Originally Posted by balloonoboy

210k is a lot. I hope you're graduating from grad school.

In a related note, I've started making my loan payments. If I choose to go to grad school, can those loans be deferred if they are current/in good standing? Will the interest continue to pile up?

Usually it's best to defer them, while attending grad school and having it stacked. But I believe, you can negotiate a consolidation of those loans (lowerthe interest rate being stacked while in grad school) if you are in good standing and if your grad program may take longer than expected to pay the currentaccrued balance and interest rate. Good luck.

 

[ravagebx]

Ha I wish

 

[son of troy]

Originally Posted by Nako XL

In a year when I graduate i'm going to be $210,000 in debt.

 

[balloonoboy]

Originally Posted by VeryAnalytical85

Originally Posted by balloonoboy

210k is a lot. I hope you're graduating from grad school.

In a related note, I've started making my loan payments. If I choose to go to grad school, can those loans be deferred if they are current/in good
standing? Will the interest continue to pile up?

Usually it's best to defer them, while attending grad school and having it stacked. But I believe, you can negotiate a consolidation of those loans (lower the interest rate being stacked while in grad school) if you are in good standing and if your grad program may take longer than expected to pay the current accrued balance and interest rate. Good luck.

Thanks. I think I will defer the ones with the lowest balance and work during grad school (if possible) to continue to make payments towards theothers.

Consolidation with a lower interest rate doesn't sound bad, but it would probably take the same amount of time to pay it off and even more interest wouldrack up than if they were kept separate.

 

[iblink]

I wish...

 

[stillin729]

I do this for a living, y'all are seriously delusional

there is a difference between not being able to afford it and just being lazy and not wanting to pay it because a hot new pair of J's came out or you wantto drive a BMW right outta college

I see so many dumb +#@@* ruin their credit over these situations

the government needs to figure out a way to make payments affordable not just forgive you because you don't feel like paying them and you don't

the bottom line: the solution is going to be income based payments

 

[nako xl]

Originally Posted by Son of Troy

Originally Posted by Nako XL

In a year when I graduate i'm going to be $210,000 in debt.

law school

 

[spsfinest212]

Originally Posted by Nako XL

Originally Posted by Son of Troy

Originally Posted by Nako XL

In a year when I graduate i'm going to be $210,000 in debt.

law school

You should have no problem paying that off if your good at what you do

 

[dakingii]

Originally Posted by Son of Troy

Originally Posted by Nako XL

In a year when I graduate i'm going to be $210,000 in debt.

COT-DAMN

and i over here stressing about the $2,500 i gotta take out this semester

 

[whph10]

This is bull ++%%.

How bout a petition to have Joe Biden wipe my !*@?

Be responsible and pay your loans.

 

[veryanalytical85]

Originally Posted by balloonoboy

Originally Posted by VeryAnalytical85

Originally Posted by balloonoboy

210k is a lot. I hope you're graduating from grad school.

In a related note, I've started making my loan payments. If I choose to go to grad school, can those loans be deferred if they are current/in good
standing? Will the interest continue to pile up?

Usually it's best to defer them, while attending grad school and having it stacked. But I believe, you can negotiate a consolidation of those loans (lower the interest rate being stacked while in grad school) if you are in good standing and if your grad program may take longer than expected to pay the current accrued balance and interest rate. Good luck.

Thanks. I think I will defer the ones with the lowest balance and work during grad school (if possible) to continue to make payments towards the others.

Consolidation with a lower interest rate doesn't sound bad, but it would probably take the same amount of time to pay it off and even more interest would rack up than if they were kept separate.

^ Depends on the type of loans you have, how much you are working, and how long your grad program take. But you seem to know already which ones to handle soagain, much props for handling. I'm also concerned, seeing as I do wish to attend grad school but my grades aren't in my favor at the moment to gostraight into it, without doing well on LSAT or GMAT w/ work experience. Peace.

 

[xilegacy]

I was just about to say 210k son better be a on his way to becoming a doctor or something. Law school def ain't cheap.

 

[stillin729]

Originally Posted by WHPH10

This is bull ++%%.

How bout a petition to have Joe Biden wipe my !*@?

Be responsible and pay your loans.

exactly, notice how my post goes ignored because Nters don't want to hear the stone cold truth, they want the easy way out

I'm Democrat too

 

[devildog1776]

I'm debt free... And I feel for people who gotta pay off rediculous amounts of cash for college.... The petition won't work. It might be reveiwed butit'll be thrown in the garbage. The end game is dollar default... Don't trip....