Obama's Student Loan Relief Plan

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Of course, as with his plan to help underwater home owners, it only applies to those who have a government loan. If you don't have a government loan, you're SOL. And unlike with mortgages, you can't refinance.

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Specializes in Gerontological, cardiac, med-surg, peds.

Moved to General Nursing Student Discussion Forum.

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Specializes in Emergency Nursing.

Great another plan to give "relief" to folks who took out loans they now can't pay back on the backs of those of us who made sacrifices and took out 0 student loans paying our own way through college.

guinness_brilliant.jpg:rolleyes:

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Specializes in N/A.

Yep. Isn't it lovely?? We get the double whammy. We get no government help, yet struggle with 3 of us in college. (until late last year it was 5 of us)

And now we get to pay off student loans for those who took them out and cannot pay them back. There is something terribly wrong with this picture.

Great another plan to give "relief" to folks who took out loans they now can't pay back on the backs of those of us who made sacrifices and took out 0 student loans paying our own way through college.

guinness_brilliant.jpg:rolleyes:

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Specializes in Nursing Professional Development.

I'm OK with it as I believe the current system of student loans needs a major overhaul -- and this is one step in the right direction. With any change though, there will always be some people angry because it doesn't help them. That shouldn't stop us from moving forward, helping those we can.

However, I would prefer that the payments be continued for longer than 20 years. I'd prefer to see at least 25 and would actually be fine with 30-35 year repayment plans. That would stimulate people to pay them off faster if they can -- and discourage people from taking out larger loans than necessary.

Also, I hope there are defined limits as to how much a person can borrow under this program -- and standards for the types of programs/schools that qualify. As a tax-payer, I am OK with helping people get a decent, basic education. However, I am NOT OK with paying outlandish tuitions of the "for profit" schools ... and/or the ever-increasing debts of people hopping from major to major while they try to figure out what they want to be when they grow up.

If people want to pay unnecessarily high prices for their education -- and/or go to school while they "find themselves" -- let them do so on their own dimes. When they are spending my money, I want them to use good sense in their selection of a program and not waste my money on poor quality programs and/or in taking more courses than necessary. People can use private loans for that sort of thing and pay them back 100% on whatever terms they negotiate with their lender. I believe the government loans with part of the payback forgiven should be limited to only a reasonable amount and only allowed at fully legitimate, accredited schools.

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Specializes in Med Surg - Renal.
Yep. Isn't it lovely?? We get the double whammy. We get no government help, yet struggle with 3 of us in college. (until late last year it was 5 of us)

And now we get to pay off student loans for those who took them out and cannot pay them back. There is something terribly wrong with this picture.

I think both you and poster you are responding to need to go read the article.

You clearly did not.

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Specializes in N/A.
I think both you and poster you are responding to need to go read the article.

You clearly did not.

Yup...actually I did read it. And I have read more than just that one article on the subject. My oldest daughter has $35K in student loans for education up to her Master's Degree and that amount doesn't include the amount of cash we put out for her living expenses while she was in school. This Obama program will help her so I'm not against it. However my point is we will pay in the end. That article does not tell the whole story. Anytime the government gets involved things go awry. Remember airline and rail degregulation? They deregulated for a reason.

Here is another article on the student loan forgiveness. Nothing will convince me that, in the end, we taxpayers will not be paying for this. Nothing is as simple as they make it seem. Not going to argue or debate this. We all have our opinions on it and agree to disagree.

http://www.obamastudentloanforgiveness.com/

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Specializes in Emergency Nursing.
I think both you and poster you are responding to need to go read the article.

You clearly did not.

I read it, and you're crazier than I am if you believe it when he says "no additional cost to taxpayers."

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Specializes in Med Surg - Renal.
Yup...actually I did read it. And I have read more than just that one article on the subject. My oldest daughter has $35K in student loans for education up to her Master's Degree and that amount doesn't include the amount of cash we put out for her living expenses while she was in school. This Obama program will help her so I'm not against it. However my point is we will pay in the end. That article does not tell the whole story. Anytime the government gets involved things go awry. Remember airline and rail degregulation? They deregulated for a reason.

Here is another article on the student loan forgiveness. Nothing will convince me that, in the end, we taxpayers will not be paying for this. Nothing is as simple as they make it seem. Not going to argue or debate this. We all have our opinions on it and agree to disagree.

http://www.obamastudentloanforgiveness.com/

If your position is as you state it, that government never does anything beneficial - there is really no point in discussing anything ever. Yours is a demonstrably delusional position.

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In defense and clarification. The reason this wonderous relief will cost the tax payer money is because the money that the students are saving in their loan repayments is paid for by tax-payers. Any time you hear of government stimulus, relief,and aid, it's coming from the tax pool. From the public finances. You cannot just magically get something paid for, the money comes from somewhere and it sure itsn't coming from Obama's pocket.

An additional point of clarification: the reason FLdoula stated that anytime the government gets involved is bad is generally because it's true. Government involvement = regulation = cost/burden on tax payer + cost/burden on business = failing economy. Now politicians are using the failing economy that they themselves caused to self-proclaim themselves as hero's coming to the rescue with relief and aid. It's the ultimate hypocrisy.

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Specializes in New Critical care NP, Critical care, Med-surg, LTC.

With any loan I've ever taken out, I've signed a contract agreeing to terms of that loan, basically attesting that I'm responsible enough to take this loan and repay it. A student loan comes with only the promise of the money for an education, no promise of employment. A responsible adult has to consider all possible outcomes of a situation. We make our choices, we need to take responsibility.

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