Support the Student Loan Forgiveness Act of 2012

ckh23, BSN, RN · Mar 17, 2012

Thanks but no thanks.

allnurses Guide · Mar 17, 2012

Nope. It is this kind of legislation that has our country bankrupt. If you can't or don't want to pay it back, don't borrow it.

elkpark · Mar 17, 2012

Why would I support this? I thought carefully about the loans I took out to help pay for my education, and I paid them back within the standard time frame. I expect others to do the same. No one holds a gun to anyone's head and makes her/him take out excessive amounts of loans to attend college or graduate school -- IMO, people need to be more thoughtful and sensible about the choices they make about this, not ask to be bailed out when it turns out they made poor decisions.

futurenurse310 · Mar 18, 2012

What happens to my cousins who had to work their butt off to finally pay for ALL of their loans. Do they get a break too? I thought people KNEW how much loans they were taking out before signing for them. Borrowing 100 bucks then wanting to only pay back 50. Smh

mindlor · Mar 18, 2012

Hey if the rich suburbanites can get breaks on their fancy mortgages they cant afford then I can get a break on my student loans.

Hell yes

MN-Nurse, ASN, RN · Mar 18, 2012

The only part of the bill that makes sense is keeping the interest rates low. (3.4%).

The 10/10 rule is stupid, stating if you make payments equal to "10% of discretionary income for 10 years, the remaining student loan debt is forgiven"

Discretionary income is what is left after taxes and personal necessities have been paid. This number can often be in the hundreds of dollars. So let's say someone has $250 left over after ALL the bills have been paid (a position that might be considered enviable by many in this economy). So they pay $25 per month for 10 years.

That's $3,000. And the balance is forgiven no matter how much? No, that doesn't make sense.

Paying off loans through public service does make sense and I support those efforts. But overall, it's a bad bill.

mindlor · Mar 18, 2012

How do you feel about all the fat cats that over extended themselves on mortgages that are now being forgiven or greatly reduced?

Just curious

KristeyK · Mar 26, 2012

Hate that too mindlor. If you can't pay for it, either don't buy it, go to school for it, or pay the consequences of not being able to purchase anything again and having your paycheck garnished. People need to take RESPONSIBILITY for themselves, not ask the taxpayers to do it for them.

1969 · Mar 27, 2012

I believe we used to call it, " adulthood", or maybe it was, "personal responsibility", I can't remember which.

jp1204 · Mar 28, 2012

I like the portion about capping the interest rate at 3.4%

also remember this will be torn apart once it hits the floor so most of it won't be left after that.

kids · Mar 28, 2012

I'm all for "forgiving" student loans.

On the condition that those who have their loan forgiven hand over their licenses and credentials and be forever barred from working in the field those forgiven loans paid for.

Just because Johnny down the street got a cookie doesn't mean Sally across town gets one too. Dragging morgage bail outs into it is apples and oranges.