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Welcome to Fairfax Underground, a project site designed to improve communication among residents of Fairfax County, VA. Feel free to post anything Northern Virginia residents would find interesting.
Half Of America’s College Students [Mistakenly] Believe The Federal Government Will Forgive Their Loans
Posted by:
Sorry suckers
()
Date: March 01, 2017 12:33PM
Half Of America’s College Students Believe The Federal Government Will Forgive Their Loans
11:08 AM 03/01/2017
Nearly half of all America’s college students have deluded themselves into believing that the federal government will graciously forgive their student loans despite the fact that the federal government forgives only a very low percentage of student loans.
LendEDU, a student loan marketplace website, documented this startling disparity between belief and reality in a nationwide survey of 500 students currently attending America’s colleges and universities, reports the New York Post.
The survey shows that 49.8 percent of the students surveyed think they will be eligible for federal student loan forgiveness.
In reality, only about 10 percent of all college graduates will ever see any portion of their student loans forgiven under current loan forgiveness law.
In order to qualify under forgiveness programs, student loan borrowers must either take specifically-identified public service jobs for a long period of time or teach in schools in poverty-stricken and under-served areas of the country.
Two other ways to receive federal forgiveness on student loans are to become permanently disabled and to die.
The final alternative — a veritable unicorn — is attending a college that shuts down while you are enrolled or just after you graduate.
That’s it. There aren’t any other ways.
“Very few students go into public service,” LendEDU co-founder Nate Matherson told the Post.
“With maybe 14 percent of the American workforce in a public service job, the actual numbers of those who may qualify for student loan forgiveness or discharge is maybe below 10 percent,” Matherson also said.
“The fact that many students do not understand this means that they may be significantly underestimating the cost of financing a college education.”
In another bit of depressing news, 84 percent of the college students surveyed had no idea when the filing deadline for their yearly Free Application for Federal Student Aid (FAFSA).
Student loan debt continues to rise annually in the United States. Some 44 million Americans hold $1.31 trillion in student loan debt, the Federal Reserve Bank of New York reported earlier this month.
To put this $1.31 trillion figure in perspective, Americans hold just $779 billion in outstanding credit card balances.
Or think about it this way: The enormity of the U.S. student loan mess is almost as big as the entire economy of Russia, where the nominal gross-domestic product is $1.33 trillion annually.
Still another way to think about it: the amount Americans collectively owe on student loans is more than the annual gross domestic products of the Netherlands, Greece and Chile — combined.
Of the $1.31 trillion in outstanding student debt, some $31 billion, is “seriously delinquent,” meaning the debtors are at least 90 days past their payment dates.
11:08 AM 03/01/2017
Nearly half of all America’s college students have deluded themselves into believing that the federal government will graciously forgive their student loans despite the fact that the federal government forgives only a very low percentage of student loans.
LendEDU, a student loan marketplace website, documented this startling disparity between belief and reality in a nationwide survey of 500 students currently attending America’s colleges and universities, reports the New York Post.
The survey shows that 49.8 percent of the students surveyed think they will be eligible for federal student loan forgiveness.
In reality, only about 10 percent of all college graduates will ever see any portion of their student loans forgiven under current loan forgiveness law.
In order to qualify under forgiveness programs, student loan borrowers must either take specifically-identified public service jobs for a long period of time or teach in schools in poverty-stricken and under-served areas of the country.
Two other ways to receive federal forgiveness on student loans are to become permanently disabled and to die.
The final alternative — a veritable unicorn — is attending a college that shuts down while you are enrolled or just after you graduate.
That’s it. There aren’t any other ways.
“Very few students go into public service,” LendEDU co-founder Nate Matherson told the Post.
“With maybe 14 percent of the American workforce in a public service job, the actual numbers of those who may qualify for student loan forgiveness or discharge is maybe below 10 percent,” Matherson also said.
“The fact that many students do not understand this means that they may be significantly underestimating the cost of financing a college education.”
In another bit of depressing news, 84 percent of the college students surveyed had no idea when the filing deadline for their yearly Free Application for Federal Student Aid (FAFSA).
Student loan debt continues to rise annually in the United States. Some 44 million Americans hold $1.31 trillion in student loan debt, the Federal Reserve Bank of New York reported earlier this month.
To put this $1.31 trillion figure in perspective, Americans hold just $779 billion in outstanding credit card balances.
Or think about it this way: The enormity of the U.S. student loan mess is almost as big as the entire economy of Russia, where the nominal gross-domestic product is $1.33 trillion annually.
Still another way to think about it: the amount Americans collectively owe on student loans is more than the annual gross domestic products of the Netherlands, Greece and Chile — combined.
Of the $1.31 trillion in outstanding student debt, some $31 billion, is “seriously delinquent,” meaning the debtors are at least 90 days past their payment dates.
Re: Half Of America’s College Students [Mistakenly] Believe The Federal Government Will Forgive Their Loans
Posted by:
xxv3U
()
Date: March 01, 2017 01:01PM
^^^ this just shows the future of the U.S.A
seriously some dumb mother fuckers coming out of college.
seriously some dumb mother fuckers coming out of college.
Re: Half Of America’s College Students [Mistakenly] Believe The Federal Government Will Forgive Their Loans
Posted by:
NippleChuck
()
Date: March 01, 2017 01:02PM
Higher Education costs are out of control. It is far more lucrative for kids to take entry level positions at businesses and take courses while working rather than spend 4 years getting fucked up and accumulating debt only to find out on the back side that there is no place for them to get jobs. A 4 year degree isn't worth the paper it is printed on these days. Higher learning my ass. Todays colleges are just adult baby sitting organizations. Todays kids will be better off starting their own businesses making their fortunes and selling out / retiring at 42 and saying fuck a bunch of college.
Nip
Nip
Re: Half Of America’s College Students [Mistakenly] Believe The Federal Government Will Forgive Their Loans
Posted by:
Vexxxed
()
Date: March 01, 2017 01:09PM
And others will do just about anything to keep from having to pay off their student loans.
https://milo.yiannopoulos.net/2017/01/college-student-set-cut-off-penis-donald-trump-builds-wall/
https://milo.yiannopoulos.net/2017/01/college-student-set-cut-off-penis-donald-trump-builds-wall/
Re: Half Of America’s College Students [Mistakenly] Believe The Federal Government Will Forgive Their Loans
Posted by:
YV6pe
()
Date: March 01, 2017 01:51PM
You used to be able to get student loan forgiveness by enlisting in the military.
Re: Half Of America’s College Students [Mistakenly] Believe The Federal Government Will Forgive Their Loans
Posted by:
pvjmU
()
Date: March 01, 2017 01:54PM
YV6pe Wrote:
-------------------------------------------------------
> You used to be able to get student loan
> forgiveness by enlisting in the military.
Too many candy ass bitches won't enlist in the military.
-------------------------------------------------------
> You used to be able to get student loan
> forgiveness by enlisting in the military.
Too many candy ass bitches won't enlist in the military.
Re: Half Of America’s College Students [Mistakenly] Believe The Federal Government Will Forgive Their Loans
Posted by:
Edws
()
Date: March 01, 2017 02:47PM
Trump's new education "Trump Student Loan Forgiveness" initiative will forgive a number of loans. Trump loves to spend other peoples money.
The crazy part is Trump is going to double the interest on the GI bill.
The crazy part is Trump is going to double the interest on the GI bill.
Re: Half Of America’s College Students [Mistakenly] Believe The Federal Government Will Forgive Their Loans
Posted by:
Gerrymanderer2.
()
Date: March 01, 2017 05:16PM
Re: Half Of America’s College Students [Mistakenly] Believe The Federal Government Will Forgive Their Loans
Posted by:
Free tuition
()
Date: March 01, 2017 06:29PM
They look happy
Attachments:
Attachments:
Re: Half Of America’s College Students [Mistakenly] Believe The Federal Government Will Forgive Their Loans
Posted by:
Student loan debt is non-dischar
()
Date: March 01, 2017 07:08PM
Wow the exact opposite of the truth. Student loan debt is non-dischargeable. If you are run over by a truck and living off government checks, they garnish disability forever just to pay the interest - death is your only escape from student loan debt. If your family is around they might not be so lucky as the government often goes after relatives in the event you die.
Donnie and every other businessman or woman on the planet can walk away from debt but student loans never, ever, ever go away unless paid. No bankruptcy nor hardship will retire your student loan. And the government has the right to raid your bank account without asking. They can garnish wages and any means of support you have.
Donnie and every other businessman or woman on the planet can walk away from debt but student loans never, ever, ever go away unless paid. No bankruptcy nor hardship will retire your student loan. And the government has the right to raid your bank account without asking. They can garnish wages and any means of support you have.
Re: Half Of America’s College Students [Mistakenly] Believe The Federal Government Will Forgive Their Loans
Posted by:
Ewsd
()
Date: March 01, 2017 07:54PM
Yup, unless the government changes the rules like Trump wants to do. But, yes student loans, mainly because they are in the thousands, are not dis-chargeable.
The same is true for lawsuit. Not dis-chargeable.
The same is true for lawsuit. Not dis-chargeable.