http://blog.studentloannetwork.com/2008/08/22/is-college-worth-the-hefty-price-tag/ News, updates and commentary on student loans Fri, 20 Nov 2009 21:11:29 -0500 http://wordpress.org/?v=abc hourly 1 http://blog.studentloannetwork.com/2008/08/22/is-college-worth-the-hefty-price-tag/comment-page-1/#comment-3303 Terry Mon, 06 Oct 2008 18:38:07 +0000 http://www.studentloannetwork.com/student-loan-help/?p=136#comment-3303 While I agree with Chris's point about counselling high schoolers about the pitfalls of taking out ed loans, this does not address the issue. It has been too easy to get these loans; the loan orgs (banks, etc.) would give full tuition and housing loans to first or second year students. Both of my daughters went to expensive schools and took out huge loans to do so. Neither are in fields where pay is high enough to cover the loan payments; apparently, this was not a consideration for the entities that made the loans. The percentage of income loan payment option seems to be most fair for these loans but does not address the fact that these kids will never have a "normal" life. If they are lucky, they will arrange some sort of payment plan and pay for 25 years and have the balance forgiven. Still, they will be near 50 years old by that time and many in that situation will have credit issues due to the inability to pay these loans. A portion of the bailout should go to assist these people so that they can become productive in the US economy and not forever operating on the fringe. While I agree with Chris’s point about counselling high schoolers about the pitfalls of taking out ed loans, this does not address the issue. It has been too easy to get these loans; the loan orgs (banks, etc.) would give full tuition and housing loans to first or second year students. Both of my daughters went to expensive schools and took out huge loans to do so. Neither are in fields where pay is high enough to cover the loan payments; apparently, this was not a consideration for the entities that made the loans. The percentage of income loan payment option seems to be most fair for these loans but does not address the fact that these kids will never have a “normal” life. If they are lucky, they will arrange some sort of payment plan and pay for 25 years and have the balance forgiven. Still, they will be near 50 years old by that time and many in that situation will have credit issues due to the inability to pay these loans. A portion of the bailout should go to assist these people so that they can become productive in the US economy and not forever operating on the fringe.

]]> http://blog.studentloannetwork.com/2008/08/22/is-college-worth-the-hefty-price-tag/comment-page-1/#comment-3270 Chris Fri, 22 Aug 2008 20:37:08 +0000 http://www.studentloannetwork.com/student-loan-help/?p=136#comment-3270 Great post! I think part of the problem is that smart students feel that they are "above" certain schools. They are not always concerned with paying back loans when they begin school, because it is 4 years away. High School guidance counselors should be sure to explain the points you bring up in your post to their students, and hopefully this trend will reverse. Great post! I think part of the problem is that smart students feel that they are “above” certain schools. They are not always concerned with paying back loans when they begin school, because it is 4 years away. High School guidance counselors should be sure to explain the points you bring up in your post to their students, and hopefully this trend will reverse.

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