if student debts gets paid by the government

[C.ruel]

Off the cuff math here: Note-not perfectly accurate, just an estimation. Not in the mood for the whole interest-time stuff during dead week.

College government loan amount per year- Lets say a big number. 20k in federal loans. No supplemental loans.

Now lets assume a 4 year degree completed in 5 years.

100k in debt.

I'm assume 5% interest rate, and that the person wants to make equal payments each month for the entirety of the 20 year loan.

so 100k Principal * (Annual payment / Principal, 5%, 20years)

Annual payment should be an A/P capital recovery equation roughly, which is [i*(1+i)^n]/[(1+i)^n-1]. I have a table handy, A/P factor ~.08024

100000*.08024= 8k a year max payment.

Obama repayment plan limits school payment to 10% income after taxes and necessities are paid for.

Assuming taxes & necessities are 50% of your income that means the mean average salary to pay off a 100k Federal loan in 20 years would be 160k before taxes.

This should be linear if I'm not derping out and you assume the same 50% to taxes and necessities, so an 80k average salary over a 20 year period would pay off a 50k federal loan without any forgiveness.

IMO at least 10k a year in federal loans is still higher than what most people get.


inb4math majors call me retarded for trying :<

Citation for where I got the 10% min payment and 20 yea period: http://www.obamastudentloanforgiveness.com/

[theyseeme]

i actually support universal higher education (for useful degrees). it brings in more income through better jobs and people who are more educated have less kids and make more money and better decisions.

do i want to pay for your liberal arts degree? no. do i want potential engineers/doctors/scientists from low-income families to have a chance? yes. it will help us out in the long run.

most schools are non-profit anyways, this wouldnt be hurting anyones business provided they get the same pay

[reverse79]

brb they were retards in highschool and didn't get any money
brb go to school that costs 20k a year instead of staying close to hom
brb complain about debt when their to stupid to find a job

^^^^lmao

their





their




















their

[razor ramone]

wouldn't everyone just default then (over exaggerating but still)

Some idiots might default to clearn their student debt, but they'll then be fkked. Good luck getting an apartment, car, or anything after bankruptcy. Even a good job will be hard to get with that on your record. So yeah, if people do it, it's not exactly a free ticket to baller-ville.

[AJPa]

^^^^lmao

their





their




















their

brb i get free uni and don't care about my spelling

[MenaceToSociety]

Sounds like a bunch of people wanna be big shots in life but dont wanna put in any hardwork to achieve it / thread

[reverse79]

i actually support universal higher education (for useful degrees). it brings in more income through better jobs and people who are more educated have less kids and make more money and better decisions.

do i want to pay for your liberal arts degree? no. do i want potential engineers/doctors/scientists from low-income families to have a chance? yes. it will help us out in the long run.

most schools are non-profit anyways, this wouldnt be hurting anyones business provided they get the same pay

Do you want to pay for teachers? They make squat considering their degrees and job at stake.

Theres always exceptions - dont throw all into a pit

[Rouhanibrah]

brb they were retards in highschool and didn't get any money
brb go to school that costs 20k a year instead of staying close to hom
brb complain about debt when their to stupid to find a job

guess you're not going to college then bro

*they're *too

thats the definition of a loan wtf would we adapt that for

lol
a) students have a choice to go through with this system if they cant afford it
b) poor people have the chance to go to a top uni, get a top job and pay off their loans
c) its a government loan with no interest
d) creates an educated society
e) students dont get hounded with debtors while stressed during their studies
f) able to pay the loan back when making big bucks
g) you wouldnt know about education mr their

[sydneyalysse]

so making our dollar worth $0.50 with all the massive spending is good for the economy??

BRB $6.50 for a gallon of milk

im not into paying for other peoples education when i couldn't afford to go to school myself.

This.

[WeDoPullups]

yeah and why are the tax payers at fault? why do they have to pay for these *******s who prob went on a mass spending spree

you're a phucking idiot.....student loans can only be used for class credits and they get paid directly to your school...it doesnt go into your bank account *******.


We should not have to pay for education....ever.

[sydneyalysse]

Yes, and here's another issue. Stuck with student loan debt and modest pay.

The financial consequences of student loan debt is unbearable.

Imagine spending 30-50% of your monthly paycheck on student loans.

LMAO...good luck on your housing,family,car,vacations, and American Dreams goals

No one put a gun to your head and told you to get that loan.

you're a phucking idiot.....student loans can only be used for class credits and they get paid directly to your school...it doesnt go into your bank account *******.


We should not have to pay for education....ever.

Lol. Then all the teachers and professors are volunteers I assume? Funded and run by charities and donations?

[Rouhanibrah]

This.

lmfao
brb i couldnt afford to go to school even though i wanted to and im so angry that i wont let others go
brb i paid myself through school i should be compensated

everyone wants something out of it, how about you butthurt ***gots just move on and see how good these systems are and how it benefits your own country and that a clean slate needs to be created

[sydneyalysse]

lmfao
brb i couldnt afford to go to school even though i wanted to and im so angry that i wont let others go
brb i paid myself through school i should be compensated

everyone wants something out of it, how about you butthurt ***gots just move on and see how good these systems are and how it benefits your own country and that a clean slate needs to be created

What? How is not wanting to pay for someone else's education "I won't let others go." ? I'm not holding a gun to their head here. They can still go if they can find loans or pay for it.

Not seeing what you are trying to argue here. Why should individual liberty be sacrificed for something arbitrarily defined as "benefits your own country".

[jon555]

We should not have to pay for education....ever.

Wait you actually think you are entitled an education? I bet you also think you are entitled health care too right? ******* you are entitled to nothing on this earth. You don't deserve anything simply because you happen to exist. Not even food, water, or shelter. If we are actually going to take a socialist route an talk about the greater good than we should first address people dying from starvation. Feeding other human beings takes priority over educating americans. Why would you even concieve of the idea that you are entitled an education when we can't even provide everyone with basic human needs like nutrition.

[WeDoPullups]

No one put a gun to your head and told you to get that loan.


Lol. Then all the teachers and professors are volunteers I assume? Funded and run by charities and donations?

why not charities and donations???? why not have corporations who need an educated workforce sponsor students in certain degrees???

Oh yeah that's called scholarships. Too bad you have to suck mad dick to get one these days.

[WeDoPullups]

Wait you actually think you are entitled an education? I bet you also think you are entitled health care too right? ******* you are entitled to nothing on this earth. You don't deserve anything simply because you happen to exist. Not even food, water, or shelter. If we are actually going to take a socialist route an talk about the greater good than we should first address people dying from starvation. Feeding other human beings takes priority over educating americans. Why would you even concieve of the idea that you are entitled an education when we can't even provide everyone with basic human needs like nutrition.

watchoutwegotabadassoverhere.

I take it you're a foreveralone ******* with no friends with that kind of attitude. Typical self-centered douchebag with no love in his live and the "every man for himself mentality". One day you'll wake up and realize how much of a kunt you are, and realize that if the people around you succeed, then you will succeed also. Fortune is contagious in a free society.


Also I always lol @ how everyone is wondering why we are falling behind in the world.....it's because nobody can afford a ****ing education these days. BRB an entire country full of selfish dumbasses with a high school diploma who don't wanna share their precious money....if they have any at all.

[sydneyalysse]

why not charities and donations???? why not have corporations who need an educated workforce sponsor students in certain degrees???

Oh yeah that's called scholarships. Too bad you have to suck mad dick to get one these days.

No one is stopping you or anyone from running a school funded from charities and donations. They already exist in the third world. The quality of that education and people who would attend it is the other question.

watchoutwegotabadassoverhere.

I take it you're a foreveralone ******* with no friends with that kind of attitude. Typical self-centered douchebag with no love in his live and the "every man for himself mentality". One day you'll wake up and realize how much of a kunt you are, and realize that if the people around you succeed, then you will succeed also. Fortune is contagious in a free society.

I like how there is no argument except a glaring example of ad hominem.

[Rouhanibrah]

What? How is not wanting to pay for someone else's education "I won't let others go." ? I'm not holding a gun to their head here.

so youre saying you want to seriously disadvantage poorer people just because you cbf paying a little more taxes even though youre already paying enough for "defence" and nexto to nothing for education

yet allowing students government loans for where they can pay it back when they are in the workforce making top dollar and serving society more efficently is a bad thing

you say youre not holding a gun to there head but pretty much you are but not letting them go to school and become what they want without having to amass huge debts to create a future for themselves, which i thought was the american dream

my god im happy i dont live in your country

brb i get my basic human rights to a good education and free health care and dont have self centred douchebags like you claiming that its unfair

[Stray800]

No one is stopping you or anyone from running a school funded from charities and donations. .

In on MISC UNIVERSITY idea - Chris Hanson can be our mascot!

[reverse79]

No one put a gun to your head and told you to get that loan.

straw man argument....very nice

I guess that minimum wage job that helps pay for books, gas to and from work/school($4 a gallon),and tuition will help you graduate in just under 20 years.

Whats next

No one put a gun to your head and told you to pay for school?

[tk217]

straw man argument....very nice

I guess that minimum wage job that helps pay for books, gas to and from work/school($4 a gallon),and tuition will help you graduate in just under 20 years.

Whats next

No one put a gun to your head and told you to pay for school?

Then you should consider working prior to going to school if you don't want loans - or apply for a grant / scholarship.

[jon555]

watchoutwegotabadassoverhere.

I take it you're a foreveralone ******* with no friends with that kind of attitude. Typical self-centered douchebag with no love in his live and the "every man for himself mentality". One day you'll wake up and realize how much of a kunt you are, and realize that if the people around you succeed, then you will succeed also. Fortune is contagious in a free society.


Also I always lol @ how everyone is wondering why we are falling behind in the world.....it's because nobody can afford a ****ing education these days. BRB an entire country full of selfish dumbasses with a high school diploma who don't wanna share their precious money....if they have any at all.

watchoutwegotalowlifeleechwhodoesntmeasureuphere

My argument was we should take any money we can afford and feed starving human beings rather than pay off loans for american college students and I'm the selfish one.

One day you will wake up and realize a kid not dying out of starvation is way more important than your pseudo intelligent socialist rant on being humanistic through free education, even if they live in a different country and have a different skin color.

Every assumption you made about me is wrong BTW but whatever helps you sleep at night hypocrite.

[justinjude]

i didnt read the rest of this thread yet, i just want to say that i have 300k in debt, from 5 years @ arizona state and 18 mo getting my masters from columbia.

worst decision ever.

oh, and edit- i can't get a salaried job to save my life.. so i work 80 hours 7 days a week for a state agency and bartending.

[jon555]

brb i get my basic human rights to a good education and free health care and dont have self centred douchebags like you claiming that its unfair

Who owes you these rights? Do you think these rights are more important than food or clean water? Do you define humans as those existing only in your country?

[reverse79]

Then you should consider working prior to going to school if you don't want loans - or apply for a grant / scholarship.

lol..ok. everything is just so easy to you guys

i want to live in your world



"Check this out, all right. I'm the president of the United States. We only finished paying off our student loans off about eight years ago. That wasn't that long ago. And that wasn't easy--especially because when we had Malia and Sasha, we're supposed to be saving up for their college educations, and we're still paying off our college educations," he said.

Obama's age when loan paid off - 43. Major - Political Science (stupid hipster degree..right?)

He didn't have to deal with nearly the inflation that takes place today.

[WeDoPullups]

watchoutwegotalowlifeleechwhodoesntmeasureuphere

My argument was we should take any money we can afford and feed starving human beings rather than pay off loans for american college students and I'm the selfish one.

One day you will wake up and realize a kid not dying out of starvation is way more important than your pseudo intelligent socialist rant on being humanistic through free education, even if they live in a different country and have a different skin color.

Every assumption you made about me is wrong BTW but whatever helps you sleep at night hypocrite.

1) I hold an engineering degree from ERAU
2) Starvation has nothing to do with money and everything to do with safe logistics and the powers that control the flow of resources in starving countries.

All the money in the world is not gonna stop rebels from starving their own people and hoarding all the food.....and secondly, be happy that there are starving and undeveloped countries because if everyone was industrialized, the world's resources would be gone in no time.

[reverse79]

i didnt read the rest of this thread yet, i just want to say that i have 300k in debt, from 5 years @ arizona state and 18 mo getting my masters from columbia.

worst decision ever.

oh, and edit- i can't get a salaried job to save my life.. so i work 80 hours 7 days a week for a state agency and bartending.

Thats a lot of debt...but you are the REALITY that some don't understand ITT. It sucks to second guess WANTING an education because of debt

Age: 27

[WeDoPullups]

Who owes you these rights? Do you think these rights are more important than food or clean water? Do you define humans as those existing only in your country?

well if these people were educated you'd think they'd be aware on how to solve their food and water problem now huh?

[Rouhanibrah]

Who owes you these rights? Do you think these rights are more important than food or clean water? Do you define humans as those existing only in your country?

basic human rights are for everyone you hippie. if i cant get education, health care or in your case food and clean water in my country then what are the chances of me helping and getting it in 3rd world countries? fix your own backyard first before you try to fix anyone elses

[sydneyalysse]

so youre saying you want to seriously disadvantage poorer people just because you cbf paying a little more taxes even though youre already paying enough for "defence" and nexto to nothing for education

yet allowing students government loans for where they can pay it back when they are in the workforce making top dollar and serving society more efficently is a bad thing

you say youre not holding a gun to there head but pretty much you are but not letting them go to school and become what they want without having to amass huge debts to create a future for themselves, which i thought was the american dream

my god im happy i dont live in your country

brb i get my basic human rights to a good education and free health care and dont have self centred douchebags like you claiming that its unfair

There are times when what you "want" are completely unrealistic. Should my "needs" and "wants" be funded by someone else's dime just because I want it ? You know how ridiculous you sound? So if people are born entitled to a "good education" (completely arbitrary as to what good means here) because they exist, imagine a scenario where everyone stopped working tomorrow, would they be able to get that education? Who would be educating?

Further, student loans are not only for "poorer people". And your assertion that if government isn't involved in the student loans business that it would be disadvantageous to poor people.The reason why higher education costs are so high is precisely because of student loans guaranteeing these ridiculous loans that should not exist in the first place. And let's forget the part where the rates of poor people entering into higher education is much much lower than the middle class, even with these guaranteed student loans. The burden becomes so much greater on everybody, including these "poor people" you so wish to defend . Which results in the burden becoming greater for these poor people then say, the middle class! You want a poor 18 year old working several odd jobs to fund the education of middle class students and their history degrees ?

yet allowing students government loans for where they can pay it back when they are in the workforce making top dollar and serving society more efficiently is a bad thing

And... you are not even aware of the issues at hand. The point is that there are plenty of these "people" taking these loans and pursuing garbage "degrees" that don't make top dollar and aren't serving society, so they can't pay back the loans! mindblown isn't it? And now they want these loans forgiven.

age:18. Seems like that public education ain't doing you any good.
And don't change the topic, the discussion is about student loans, not defense or other expenditures of the government. Trying to establish a red herring here is completely ridiculous on your part.