Quote:
Originally Posted by AGDee
Since the length of time to find a "real" job after graduation is getting longer and longer (last I heard it was around 9 months and that was before the more recent downturns), I could see them deferring them longer, or not charging interest while one is laid off, or making some measures like that.
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I think that's a decent idea.
6 months after graduation is the average amount of time to find a job, and start paying off loans. If you lengthen that to a year, or 18 months, you risk students taking that time off as a large vacation, possibly putting them into a worse situation. Though, it does give time for those harder jobs to find that you may need more time to pay back your loans.
I just feel that, if banks know that at this point in time student loans are almost mandatory for anyone wanting to get their degree, and even MORE likely for grad students, they could help everyone by lowering the interest rates. The government wouldn't need to step in the way people
feel they do now, and banks are still making a load of money off of the interest just because people are BORROWING so much money.
Building credit is one of the best things a student can do for themselves, so they need ways to do that. Some credit card companies have stepped in a had great rates and insensitive for current college students. Students also need to learn financial responsibility so they wont be relying on unemployment/welfare for the rest of their lives. (Which ultimately hurts the rest of the country because we're paying taxes for their lazy @$$es)
When I first heard about this petition, i was surprised at the amount of support I saw. But then I thought about how many of my friends (college students) are on unemployment, and It kind of made me think about how lazy this country is. The government get's nothing out of you going to college. So why should the government bail you out of your student loans. The government would get something out of lowering student loans Interest rates because less people would be having difficulty in paying back.
I'm the youngest of 5, all went to college, I'm still in it. My parents told us, they would pay for
half of the first 4 years we were in school. After that, we're on our own. So i have loans out, and my parents have loans for me, and when I enter my 5th year (because my program can't really be done in 4) I'll be on my own. Would I love for that year to be free? Duh, who wouldn't. But that's what scholarships are for. And that's why I keep applying for scholarships. I wont be in the worst of shape after i graduate. But my parents have 5 kids worth of loans, 20 years worth of college loans, in 12 years. They consolidate, and they do what they can. But the amount of interest alone is putting them in a serious financial situation.
I think lowering the interest rates can help longer than forgiving student loans. Forgiving student loans just makes people even more lazy, and possibly feel even more entitled to things that they're not entitled. Also, as many people have said, that money could go toward much better things... as long as they are things IN this country. But bailing out student debt will only help one generation of college students, what about the next set of college students? The government can't help everyone get through college, they do what they can, FAFSA, and other ways to get government aid. There are private loans, and as always... just a damn good highschool GPA can do wonders for you!