login
Political Joe TAN (Page 3)
-
No new posts
|
 2013-12-04 3:29 PM in reply to: Left Brain |
Extreme Veteran  1190    Silicon Valley |  Subject: RE: Political Joe TANOriginally posted by Left Brain Originally posted by mr2tony Originally posted by Left Brain I know. I get pizzed that I have to pay $100 a month for my health insurance. And then when I go to the doctor I have to pay an extra $20 out of pocket. I'm not made of frickin' money here!!! Originally posted by mr2tony You guys have crappy jobs if your healthcare costs are going up. Why don't you just go get a job at a company that offers cheaper out-of-pocket premiums like responsible, hard-working people have instead of just whining about how bad you have it. Exactly. I just recently got done writing a check to cover my out of pocket for my knee surgery. $100.00. I was kind of pizzed off. The hernia surgery I had 3 years ago only cost me 50 bucks. See....that's bullchit that you only pay $100.00. We have to pay $230.00 per month for our entire family. Still, doctor visits are free so I guess it all evens out. I find these numbers for costs that people are unhappy with amazing. Fortunately I don't have to move to an obamacare plan because it would be disastrous. Since I am self employed I pay for my own coverage. My current plan is grandfathered so I can keep it, unlike my adult kids plans which were cancelled by the carrier as mandated by the ACA. The cheapest plan my wife and I could get is over $1100/month and that had a $10,000 deductible and a $12,700 Max out of pocket. So my hip surgery would have me writing a check for $12,700 on top of an annual premium of over $13,000! However, I would have had to use a different surgeon because mine is not in the obamacare network because the reimbursements are too low. I am still trying to figure out where the 'affordable' is in the Affordable Care Act. |
| 2013-12-04 4:04 PM in reply to: Aarondb4 |
Veteran 1019 St. Louis | Subject: RE: Political Joe TAN Originally posted by Aarondb4 The high deductible "catastrophic" plans are the only thing that makes sense for people my age, it is a shame they are going away. I went to the doc when I was a kid for broken bones only, nothing else. From 18-28 (current) I have been once. And it was because I was working for the County government and was planning on quitting. Because it was free to go I went and did everything, no real need but I figured if I was going to have insurance for another month I better find out if I was terminally ill or something. It is sad that the ACA did absolutely nothing about the cost of healthcare. My brother in-law is the same age as me, found out a few weeks ago that he had testicular cancer. It was a simple out patient procedure to have it removed but the cost is still going to be over $20k for them out of pocket. Not small change for a hair stylist and a welder. A few weeks after the surgery he went in for a test and they found his cancer levels higher than they were before the surgery, so they started to talk chemo. Four sessions of chemo was going to be over $100k. My sister and he just bought their first house and were staring down the barrel of losing that house. Luckily a subsequent test had the levels lower so he may clear up on his own yet. I just can't help but think we would all be better off if an outpatient procedure didn't cost $30k (more if they were insured) and a session of chemo wasn't $25k. Absolutely ridiculous IMO.
I have insurance through my fairly large employer, so the ACA has (so far) had virtually no effect on my coverage/premiums. But dmiller5 just created new thread with a link to an ACA calculator. Out of curiosity I went through to see what it would cost. What struck me as interesting, and what relates to the bolded part of your post, is after it gave my estimated costs and bronze level options, it stated the following OTHER COVERAGE OPTIONSChildren and young adults under age 30 are eligible to purchase catastrophic coverage. With a catastrophic plan, you would pay out-of-pocket for most health services until you reach the annual limit on cost sharing ($12,700in 2014). However, preventive services are covered with no cost sharing required.
|
| 2013-12-04 7:01 PM in reply to: JoshR |
Master 2380 Beijing | Subject: RE: Political Joe TAN Originally posted by JoshR I fell off the monkey bars and shattered both my wrists. Full arm casts on both arms for a month. Then once I got down to half arm casts, another kid sat on one of them on accident and I had to have it reset. Fun times.
I also fell off the monkey bar, but only shattered one of my wrists. And my oldest son is Oliver. creepy. |
| 2013-12-04 7:27 PM in reply to: Stuartap |
Pro 15655  | Subject: RE: Political Joe TAN Originally posted by Stuartap Originally posted by Left Brain I find these numbers for costs that people are unhappy with amazing. Fortunately I don't have to move to an obamacare plan because it would be disastrous. Since I am self employed I pay for my own coverage. My current plan is grandfathered so I can keep it, unlike my adult kids plans which were cancelled by the carrier as mandated by the ACA. The cheapest plan my wife and I could get is over $1100/month and that had a $10,000 deductible and a $12,700 Max out of pocket. So my hip surgery would have me writing a check for $12,700 on top of an annual premium of over $13,000! However, I would have had to use a different surgeon because mine is not in the obamacare network because the reimbursements are too low. I am still trying to figure out where the 'affordable' is in the Affordable Care Act. Originally posted by mr2tony Originally posted by Left Brain I know. I get pizzed that I have to pay $100 a month for my health insurance. And then when I go to the doctor I have to pay an extra $20 out of pocket. I'm not made of frickin' money here!!! Originally posted by mr2tony You guys have crappy jobs if your healthcare costs are going up. Why don't you just go get a job at a company that offers cheaper out-of-pocket premiums like responsible, hard-working people have instead of just whining about how bad you have it. Exactly. I just recently got done writing a check to cover my out of pocket for my knee surgery. $100.00. I was kind of pizzed off. The hernia surgery I had 3 years ago only cost me 50 bucks. See....that's bullchit that you only pay $100.00. We have to pay $230.00 per month for our entire family. Still, doctor visits are free so I guess it all evens out. Stuart - if my computer would let the pick font show up I'd have used it. I feel very fortunate to have the plan we have through my wife's employer (ready to get REALLY aggravated?)......she works for the Federal govt. Obamacare is a disaster by my way of thinking, and truly is being used as a wealth distributing tool IMO. |
| 2013-12-04 11:46 PM in reply to: uclamatt2007 |
Pro 9391 Omaha, NE | Subject: RE: Political Joe TAN Originally posted by uclamatt2007 Ok, spent 2 hours on applying for the California exchange last night. Has anyone else not not head about the "cost sharing" plans on the exchanges? For those making between 100% and 250% of the federal poverty level, there are "enhanced" silver available on the exchange. For an example, a couple roughly 30 years old making approx $30,000 could qualify for the Enhanced Silver 87 Plan. Premiums are $591/month, but only $115 after subsidies. Here is where the enhanced part kicks in though: out of pocket maximum is 2250/person and 45000 family. The standard gold and silver plans are about 3x that. Co pays are about are half of the standard plans. In other words, a couple in their 30s in the Northern California making $30,000 a year can get arguably the best plan on the exchange for $115 a month. There is no provision to remove them from that plan during the year if it turns out they massively underestimated their 2014 income. Is it really shocking that premiums are rising for everyone else? That sounds like quite a deal. Used to be you had to work really hard to get a great paying job with good benefits to get insurance that cost three times that much. It's almost like the government is incentivizing people to stay poor or something. On a serious note though, a plan like that would add a fairly significant obstacle to earning more money. I'm not sure where the cutoffs are, but say for example I am making $30k a year and get an offer to take a new job at $40k a year, but it disqualifies me for this plan and subsidy. If I'm no longer eligible for that plan at all due to my income and lose my subsidy I could be stuck with a $500-$800/mo. healthcare cost increase. That would sure put a damper on that extra $10k raise. Obviously I'm just making up numbers, but there has to be some truth to this argument. I mean, I came up with it so it has to be true. ;-) |
| 2013-12-05 12:02 AM in reply to: JoshR |
Pro 9391 Omaha, NE | Subject: RE: Political Joe TAN Originally posted by JoshR A couple of interesting stories out today. http://money.cnn.com/2013/12/04/pf/college/student-loan-debt/index.... This is going to be such a massive drag on the economy for years to come. I don't think anyone is thinking about this very clearly at all. http://money.cnn.com/2013/12/04/news/companies/libor-europe-fines/i... I'm tired of seeing fines. They don't do anything. Most of them aren't even big enough to be noticeable in the first place. They should require them to suspend some operations or something for these types of violations. There's no question that Student loans and the education industry as a whole are in for a big crash at some point in time in the future. It's the mortgage crisis all over again, and it's so obvious it isn't even funny. The sad part though is young people can't bankrupt their way out of this mess, so they're going to be rocked the rest of their lives. I think I've mentioned this thing called supply and demand and when you have an infinite supply of "free money". Hey, Uncle Obama can I have a loan for $200k to go to school for 4 years that I don't have to pay for until I'm 25? Oh, and I can buy laptops and X-boxes with the extra. sweet. Thanks Uncle Obama. |
| 2013-12-05 12:22 AM in reply to: tuwood |
Extreme Veteran 1190 Silicon Valley | Subject: RE: Political Joe TAN Originally posted by tuwood Originally posted by uclamatt2007 Ok, spent 2 hours on applying for the California exchange last night. Has anyone else not not head about the "cost sharing" plans on the exchanges? For those making between 100% and 250% of the federal poverty level, there are "enhanced" silver available on the exchange. For an example, a couple roughly 30 years old making approx $30,000 could qualify for the Enhanced Silver 87 Plan. Premiums are $591/month, but only $115 after subsidies. Here is where the enhanced part kicks in though: out of pocket maximum is 2250/person and 45000 family. The standard gold and silver plans are about 3x that. Co pays are about are half of the standard plans. In other words, a couple in their 30s in the Northern California making $30,000 a year can get arguably the best plan on the exchange for $115 a month. There is no provision to remove them from that plan during the year if it turns out they massively underestimated their 2014 income. Is it really shocking that premiums are rising for everyone else? That sounds like quite a deal. Used to be you had to work really hard to get a great paying job with good benefits to get insurance that cost three times that much. It's almost like the government is incentivizing people to stay poor or something. On a serious note though, a plan like that would add a fairly significant obstacle to earning more money. I'm not sure where the cutoffs are, but say for example I am making $30k a year and get an offer to take a new job at $40k a year, but it disqualifies me for this plan and subsidy. If I'm no longer eligible for that plan at all due to my income and lose my subsidy I could be stuck with a $500-$800/mo. healthcare cost increase. That would sure put a damper on that extra $10k raise. Obviously I'm just making up numbers, but there has to be some truth to this argument. I mean, I came up with it so it has to be true. ;-) Tony your made up numbers are not that far off. There have been many articles written about those in the 60-64 year old category that are considering a lower paid job because the healthcare premiums are so high they net more by making less and letting the taxpayers pay for their healthcare. One other thing that many do not know. In your scenario where the person moves from a $30k job to a $40k job and are getting a subsidy based on their original $30k, will have to pay back the subsidy. While I didn't look deeply into the study, one done a few months ago by the LA Times that projected as many as 31% of those getting subsidies would likely have to pay some of that back. |
| 2013-12-05 2:38 AM in reply to: tuwood |
Master 2380 Beijing | Subject: RE: Political Joe TAN Originally posted by tuwood Originally posted by JoshR A couple of interesting stories out today. http://money.cnn.com/2013/12/04/pf/college/student-loan-debt/index.... This is going to be such a massive drag on the economy for years to come. I don't think anyone is thinking about this very clearly at all. http://money.cnn.com/2013/12/04/news/companies/libor-europe-fines/i... I'm tired of seeing fines. They don't do anything. Most of them aren't even big enough to be noticeable in the first place. They should require them to suspend some operations or something for these types of violations. There's no question that Student loans and the education industry as a whole are in for a big crash at some point in time in the future. It's the mortgage crisis all over again, and it's so obvious it isn't even funny. The sad part though is young people can't bankrupt their way out of this mess, so they're going to be rocked the rest of their lives. I think I've mentioned this thing called supply and demand and when you have an infinite supply of "free money". Hey, Uncle Obama can I have a loan for $200k to go to school for 4 years that I don't have to pay for until I'm 25? Oh, and I can buy laptops and X-boxes with the extra. sweet. Thanks Uncle Obama.
It's hard to believe (actually, no it isn't) that people aren't doing the math ahead of time. I graduated with about $17,000 in debt from college in 1996. Starting engineer salary for me at that time was about $30k+. (starting is double that today) It was manageable, even with rent and a car payment. We'll definitely be sitting down as college approaches (only 7 more years? crap) and "doing the math" on some of these schools/programs before my kids decide. I will not pay for their entire education (even if I'm able) so they will need to approach college with some forethought. It's time to make college money scarce. Step one should be to allow some portion of college debt to be written off. We did it with freaking mortgages, we can do it with college loans. Allowing lenders to share in the risk of lending is part-and-parcel with responsible lending. If these debts cannot be discharged under any circumstatnces, there is no disincentive for lenders to make "bad" loans. Hmm.... since the repayment of the loan is always guaranteed in this scenario, I wonder if lenders are counting that repayment as income? I'm sure none of these companies are using cash accounting. Accrual method would actually count the income (maybe even assets?) even if its not coming in. Somebody help me here, I'm way out of my league. Point being, companies with large amounts of student loans on the books might *look* good under some accounting scenarios, but if the actual default rate is high... the money really isn't coming in. It has to pop sometime, right? right? |
| 2013-12-05 3:53 AM in reply to: moondawg14 |
Pro 9391 Omaha, NE | Subject: RE: Political Joe TAN Originally posted by moondawg14 Originally posted by tuwood Originally posted by JoshR A couple of interesting stories out today. http://money.cnn.com/2013/12/04/pf/college/student-loan-debt/index.... This is going to be such a massive drag on the economy for years to come. I don't think anyone is thinking about this very clearly at all. http://money.cnn.com/2013/12/04/news/companies/libor-europe-fines/i... I'm tired of seeing fines. They don't do anything. Most of them aren't even big enough to be noticeable in the first place. They should require them to suspend some operations or something for these types of violations. There's no question that Student loans and the education industry as a whole are in for a big crash at some point in time in the future. It's the mortgage crisis all over again, and it's so obvious it isn't even funny. The sad part though is young people can't bankrupt their way out of this mess, so they're going to be rocked the rest of their lives. I think I've mentioned this thing called supply and demand and when you have an infinite supply of "free money". Hey, Uncle Obama can I have a loan for $200k to go to school for 4 years that I don't have to pay for until I'm 25? Oh, and I can buy laptops and X-boxes with the extra. sweet. Thanks Uncle Obama.
It's hard to believe (actually, no it isn't) that people aren't doing the math ahead of time. I graduated with about $17,000 in debt from college in 1996. Starting engineer salary for me at that time was about $30k+. (starting is double that today) It was manageable, even with rent and a car payment. We'll definitely be sitting down as college approaches (only 7 more years? crap) and "doing the math" on some of these schools/programs before my kids decide. I will not pay for their entire education (even if I'm able) so they will need to approach college with some forethought. It's time to make college money scarce. Step one should be to allow some portion of college debt to be written off. We did it with freaking mortgages, we can do it with college loans. Allowing lenders to share in the risk of lending is part-and-parcel with responsible lending. If these debts cannot be discharged under any circumstatnces, there is no disincentive for lenders to make "bad" loans. Hmm.... since the repayment of the loan is always guaranteed in this scenario, I wonder if lenders are counting that repayment as income? I'm sure none of these companies are using cash accounting. Accrual method would actually count the income (maybe even assets?) even if its not coming in. Somebody help me here, I'm way out of my league. Point being, companies with large amounts of student loans on the books might *look* good under some accounting scenarios, but if the actual default rate is high... the money really isn't coming in. It has to pop sometime, right? right? We had the same mindset with our kids. We want to teach them financial responsibility and let them have some skin in the game. Boy did we get a lesson in how F'd up the government loan system is. My son is a Freshmen in college an the University of Nebraska. He has always known that he was going to pay for his college, and he didn't know that based on his performance Mom and Dad were going to bless him with a large donation towards his student loans at the end. This way, if he drinks his college away then he gets to enjoy his debt for a very long time. If he does very well in school then he will leave college with little or no debt. However, when he filled out the FAFSA for college he was informed that based on his parents income he was ineligible for any subsidized loans. He in fact wasn't eligible for any loans at all other than a $5k unsubsidized loan from the government that would accrue interest immediately at a 7% rate. They informed him that Mom and Dad would need to pay the additional $18k by the end of next month if you wish to enroll. Or, if your parent's were irresponsible and selfish with their money then they have the option of taking out a federal Parent Plus loan. Yes, My wife and I would take out student loans (in our name) to pay for our son's college due to our "irresponsibility". We also had the option of going to a private institution and taking a loan out as cosigners with our son. My blood was boiling by the time we were done with this whole mess. We have the ability to pay for his tuition and books, but that is exactly what we do not want to do. So, I ended up taking out a student loan (in my name) for my son so that he knows he has a loan. He also knows that it is HIS loan that he is expected to pay for. He is still unaware of our plan to forgive it if he does well in school. Also, due to him having "rich" parents he has to pay interest on the loans as soon as they distribute. Only kids with poor parents get to have their loans differed. So, my son who makes about $300 a mo. working at the mall is having to send almost half of his paycheck to the bank to pay for interest. I'm getting upset again, just typing this. |
| 2013-12-05 7:17 AM in reply to: moondawg14 |
Elite 4564 Boise | Subject: RE: Political Joe TAN Originally posted by moondawg14 Originally posted by tuwood Originally posted by JoshR A couple of interesting stories out today. http://money.cnn.com/2013/12/04/pf/college/student-loan-debt/index.... This is going to be such a massive drag on the economy for years to come. I don't think anyone is thinking about this very clearly at all. http://money.cnn.com/2013/12/04/news/companies/libor-europe-fines/i... I'm tired of seeing fines. They don't do anything. Most of them aren't even big enough to be noticeable in the first place. They should require them to suspend some operations or something for these types of violations. There's no question that Student loans and the education industry as a whole are in for a big crash at some point in time in the future. It's the mortgage crisis all over again, and it's so obvious it isn't even funny. The sad part though is young people can't bankrupt their way out of this mess, so they're going to be rocked the rest of their lives. I think I've mentioned this thing called supply and demand and when you have an infinite supply of "free money". Hey, Uncle Obama can I have a loan for $200k to go to school for 4 years that I don't have to pay for until I'm 25? Oh, and I can buy laptops and X-boxes with the extra. sweet. Thanks Uncle Obama.
It's hard to believe (actually, no it isn't) that people aren't doing the math ahead of time. I graduated with about $17,000 in debt from college in 1996. Starting engineer salary for me at that time was about $30k+. (starting is double that today) It was manageable, even with rent and a car payment. We'll definitely be sitting down as college approaches (only 7 more years? crap) and "doing the math" on some of these schools/programs before my kids decide. I will not pay for their entire education (even if I'm able) so they will need to approach college with some forethought. It's time to make college money scarce. Step one should be to allow some portion of college debt to be written off. We did it with freaking mortgages, we can do it with college loans. Allowing lenders to share in the risk of lending is part-and-parcel with responsible lending. If these debts cannot be discharged under any circumstatnces, there is no disincentive for lenders to make "bad" loans. Hmm.... since the repayment of the loan is always guaranteed in this scenario, I wonder if lenders are counting that repayment as income? I'm sure none of these companies are using cash accounting. Accrual method would actually count the income (maybe even assets?) even if its not coming in. Somebody help me here, I'm way out of my league. Point being, companies with large amounts of student loans on the books might *look* good under some accounting scenarios, but if the actual default rate is high... the money really isn't coming in. It has to pop sometime, right? right? The problem is, tuition has been rising so much that it's quickly becoming difficult to find a cheap school. BSU for example, the tuition has risen 40% since I graduated a mere 3.5 years ago. Just to get a 4 year degree now costs over $20k. That doesn't include books, fees,mandatory health insurance, etc. BSU is also one of the cheapest schools around. Way back when I first started looking at colleges I remember UW having tuition around $9k/yr. That was in state. I saw a little chart the other day that showed that since 2000 tuition across the country is up 130%. That's just nuts. I know for myself it is a huge drag on my income. My wife and I both have student loans and I make a nice car payment every month paying it off and will continue to do that for the next 20 years. |
| 2013-12-05 8:53 AM in reply to: JoshR |
Pro 9391 Omaha, NE | Subject: RE: Political Joe TAN Originally posted by JoshR Originally posted by moondawg14 The problem is, tuition has been rising so much that it's quickly becoming difficult to find a cheap school. BSU for example, the tuition has risen 40% since I graduated a mere 3.5 years ago. Just to get a 4 year degree now costs over $20k. That doesn't include books, fees,mandatory health insurance, etc. BSU is also one of the cheapest schools around. Way back when I first started looking at colleges I remember UW having tuition around $9k/yr. That was in state. I saw a little chart the other day that showed that since 2000 tuition across the country is up 130%. That's just nuts. I know for myself it is a huge drag on my income. My wife and I both have student loans and I make a nice car payment every month paying it off and will continue to do that for the next 20 years. Originally posted by tuwood Originally posted by JoshR A couple of interesting stories out today. http://money.cnn.com/2013/12/04/pf/college/student-loan-debt/index.... This is going to be such a massive drag on the economy for years to come. I don't think anyone is thinking about this very clearly at all. http://money.cnn.com/2013/12/04/news/companies/libor-europe-fines/i... I'm tired of seeing fines. They don't do anything. Most of them aren't even big enough to be noticeable in the first place. They should require them to suspend some operations or something for these types of violations. There's no question that Student loans and the education industry as a whole are in for a big crash at some point in time in the future. It's the mortgage crisis all over again, and it's so obvious it isn't even funny. The sad part though is young people can't bankrupt their way out of this mess, so they're going to be rocked the rest of their lives. I think I've mentioned this thing called supply and demand and when you have an infinite supply of "free money". Hey, Uncle Obama can I have a loan for $200k to go to school for 4 years that I don't have to pay for until I'm 25? Oh, and I can buy laptops and X-boxes with the extra. sweet. Thanks Uncle Obama.
It's hard to believe (actually, no it isn't) that people aren't doing the math ahead of time. I graduated with about $17,000 in debt from college in 1996. Starting engineer salary for me at that time was about $30k+. (starting is double that today) It was manageable, even with rent and a car payment. We'll definitely be sitting down as college approaches (only 7 more years? crap) and "doing the math" on some of these schools/programs before my kids decide. I will not pay for their entire education (even if I'm able) so they will need to approach college with some forethought. It's time to make college money scarce. Step one should be to allow some portion of college debt to be written off. We did it with freaking mortgages, we can do it with college loans. Allowing lenders to share in the risk of lending is part-and-parcel with responsible lending. If these debts cannot be discharged under any circumstatnces, there is no disincentive for lenders to make "bad" loans. Hmm.... since the repayment of the loan is always guaranteed in this scenario, I wonder if lenders are counting that repayment as income? I'm sure none of these companies are using cash accounting. Accrual method would actually count the income (maybe even assets?) even if its not coming in. Somebody help me here, I'm way out of my league. Point being, companies with large amounts of student loans on the books might *look* good under some accounting scenarios, but if the actual default rate is high... the money really isn't coming in. It has to pop sometime, right? right? Supply and demand at work. If people had to pay for college out of pocket or truly qualify for the loans tuition would likely be going down year over year. However, yet again the government tries to "help" everyone by giving them easy access to mortgage/college/healthcare(insert bleeding heart item). I really wish they'd stop "helping" us. |
| 2013-12-05 9:24 AM in reply to: tuwood |
Veteran 1019 St. Louis | Subject: RE: Political Joe TAN Originally posted by tuwood We had the same mindset with our kids. We want to teach them financial responsibility and let them have some skin in the game. Boy did we get a lesson in how F'd up the government loan system is. My son is a Freshmen in college an the University of Nebraska. He has always known that he was going to pay for his college, and he didn't know that based on his performance Mom and Dad were going to bless him with a large donation towards his student loans at the end. This way, if he drinks his college away then he gets to enjoy his debt for a very long time. If he does very well in school then he will leave college with little or no debt. However, when he filled out the FAFSA for college he was informed that based on his parents income he was ineligible for any subsidized loans. He in fact wasn't eligible for any loans at all other than a $5k unsubsidized loan from the government that would accrue interest immediately at a 7% rate. They informed him that Mom and Dad would need to pay the additional $18k by the end of next month if you wish to enroll. Or, if your parent's were irresponsible and selfish with their money then they have the option of taking out a federal Parent Plus loan. Yes, My wife and I would take out student loans (in our name) to pay for our son's college due to our "irresponsibility". We also had the option of going to a private institution and taking a loan out as cosigners with our son. My blood was boiling by the time we were done with this whole mess. We have the ability to pay for his tuition and books, but that is exactly what we do not want to do. So, I ended up taking out a student loan (in my name) for my son so that he knows he has a loan. He also knows that it is HIS loan that he is expected to pay for. He is still unaware of our plan to forgive it if he does well in school. Also, due to him having "rich" parents he has to pay interest on the loans as soon as they distribute. Only kids with poor parents get to have their loans differed. So, my son who makes about $300 a mo. working at the mall is having to send almost half of his paycheck to the bank to pay for interest. I'm getting upset again, just typing this. Reminded me of this onion news story. http://www.theonion.com/articles/man-doesnt-know-how-parents-ever-going-to-pay-off,34656/ |
| 2013-12-05 12:22 PM in reply to: kevin_trapp |
Champion 6993 Chicago, Illinois | Subject: RE: Political Joe TAN I am not sure if it has changed but expected family contribution for Student loans was 33% of what the student made and 12% of what the parents made. When I tried to go back to school I had to wait until I was 24 because then at least I had a chance to go back to school. My biggest issue since I had to pay it myself I had to come up with more money than I made for the year. This was back in 2000 so not sure if it has changed though. |
| 2013-12-05 1:08 PM in reply to: tuwood |
Champion 34263 Chicago | Subject: RE: Political Joe TAN Originally posted by tuwood Originally posted by moondawg14 Originally posted by tuwood Originally posted by JoshR A couple of interesting stories out today. http://money.cnn.com/2013/12/04/pf/college/student-loan-debt/index.... This is going to be such a massive drag on the economy for years to come. I don't think anyone is thinking about this very clearly at all. http://money.cnn.com/2013/12/04/news/companies/libor-europe-fines/i... I'm tired of seeing fines. They don't do anything. Most of them aren't even big enough to be noticeable in the first place. They should require them to suspend some operations or something for these types of violations. There's no question that Student loans and the education industry as a whole are in for a big crash at some point in time in the future. It's the mortgage crisis all over again, and it's so obvious it isn't even funny. The sad part though is young people can't bankrupt their way out of this mess, so they're going to be rocked the rest of their lives. I think I've mentioned this thing called supply and demand and when you have an infinite supply of "free money". Hey, Uncle Obama can I have a loan for $200k to go to school for 4 years that I don't have to pay for until I'm 25? Oh, and I can buy laptops and X-boxes with the extra. sweet. Thanks Uncle Obama.
It's hard to believe (actually, no it isn't) that people aren't doing the math ahead of time. I graduated with about $17,000 in debt from college in 1996. Starting engineer salary for me at that time was about $30k+. (starting is double that today) It was manageable, even with rent and a car payment. We'll definitely be sitting down as college approaches (only 7 more years? crap) and "doing the math" on some of these schools/programs before my kids decide. I will not pay for their entire education (even if I'm able) so they will need to approach college with some forethought. It's time to make college money scarce. Step one should be to allow some portion of college debt to be written off. We did it with freaking mortgages, we can do it with college loans. Allowing lenders to share in the risk of lending is part-and-parcel with responsible lending. If these debts cannot be discharged under any circumstatnces, there is no disincentive for lenders to make "bad" loans. Hmm.... since the repayment of the loan is always guaranteed in this scenario, I wonder if lenders are counting that repayment as income? I'm sure none of these companies are using cash accounting. Accrual method would actually count the income (maybe even assets?) even if its not coming in. Somebody help me here, I'm way out of my league. Point being, companies with large amounts of student loans on the books might *look* good under some accounting scenarios, but if the actual default rate is high... the money really isn't coming in. It has to pop sometime, right? right? We had the same mindset with our kids. We want to teach them financial responsibility and let them have some skin in the game. Boy did we get a lesson in how F'd up the government loan system is. My son is a Freshmen in college an the University of Nebraska. He has always known that he was going to pay for his college, and he didn't know that based on his performance Mom and Dad were going to bless him with a large donation towards his student loans at the end. This way, if he drinks his college away then he gets to enjoy his debt for a very long time. If he does very well in school then he will leave college with little or no debt. However, when he filled out the FAFSA for college he was informed that based on his parents income he was ineligible for any subsidized loans. He in fact wasn't eligible for any loans at all other than a $5k unsubsidized loan from the government that would accrue interest immediately at a 7% rate. They informed him that Mom and Dad would need to pay the additional $18k by the end of next month if you wish to enroll. Or, if your parent's were irresponsible and selfish with their money then they have the option of taking out a federal Parent Plus loan. Yes, My wife and I would take out student loans (in our name) to pay for our son's college due to our "irresponsibility". We also had the option of going to a private institution and taking a loan out as cosigners with our son. My blood was boiling by the time we were done with this whole mess. We have the ability to pay for his tuition and books, but that is exactly what we do not want to do. So, I ended up taking out a student loan (in my name) for my son so that he knows he has a loan. He also knows that it is HIS loan that he is expected to pay for. He is still unaware of our plan to forgive it if he does well in school. Also, due to him having "rich" parents he has to pay interest on the loans as soon as they distribute. Only kids with poor parents get to have their loans differed. So, my son who makes about $300 a mo. working at the mall is having to send almost half of his paycheck to the bank to pay for interest. I'm getting upset again, just typing this. Actually I have a solution for this. When I was about to be a freshman in college, I couldn't get guaranteed loans or subsidized loans because my parents made too much money. So I basically divorced my parents. That is, I claimed myself as an independent person on my tax forms that year. If you and your wife aren't claiming your son as a dependent child and not taking the tax credit then he is considered independent and will then be eligible for subsidized and deferred loans. My parents were NOT happy with me because they didn't get the child tax credit that year but I got my student loan. |
| 2013-12-05 1:22 PM in reply to: mr2tony |
Elite 4564 Boise | Subject: RE: Political Joe TAN Originally posted by mr2tony Originally posted by tuwood Originally posted by moondawg14 Originally posted by tuwood Originally posted by JoshR A couple of interesting stories out today. http://money.cnn.com/2013/12/04/pf/college/student-loan-debt/index.... This is going to be such a massive drag on the economy for years to come. I don't think anyone is thinking about this very clearly at all. http://money.cnn.com/2013/12/04/news/companies/libor-europe-fines/i... I'm tired of seeing fines. They don't do anything. Most of them aren't even big enough to be noticeable in the first place. They should require them to suspend some operations or something for these types of violations. There's no question that Student loans and the education industry as a whole are in for a big crash at some point in time in the future. It's the mortgage crisis all over again, and it's so obvious it isn't even funny. The sad part though is young people can't bankrupt their way out of this mess, so they're going to be rocked the rest of their lives. I think I've mentioned this thing called supply and demand and when you have an infinite supply of "free money". Hey, Uncle Obama can I have a loan for $200k to go to school for 4 years that I don't have to pay for until I'm 25? Oh, and I can buy laptops and X-boxes with the extra. sweet. Thanks Uncle Obama.
It's hard to believe (actually, no it isn't) that people aren't doing the math ahead of time. I graduated with about $17,000 in debt from college in 1996. Starting engineer salary for me at that time was about $30k+. (starting is double that today) It was manageable, even with rent and a car payment. We'll definitely be sitting down as college approaches (only 7 more years? crap) and "doing the math" on some of these schools/programs before my kids decide. I will not pay for their entire education (even if I'm able) so they will need to approach college with some forethought. It's time to make college money scarce. Step one should be to allow some portion of college debt to be written off. We did it with freaking mortgages, we can do it with college loans. Allowing lenders to share in the risk of lending is part-and-parcel with responsible lending. If these debts cannot be discharged under any circumstatnces, there is no disincentive for lenders to make "bad" loans. Hmm.... since the repayment of the loan is always guaranteed in this scenario, I wonder if lenders are counting that repayment as income? I'm sure none of these companies are using cash accounting. Accrual method would actually count the income (maybe even assets?) even if its not coming in. Somebody help me here, I'm way out of my league. Point being, companies with large amounts of student loans on the books might *look* good under some accounting scenarios, but if the actual default rate is high... the money really isn't coming in. It has to pop sometime, right? right? We had the same mindset with our kids. We want to teach them financial responsibility and let them have some skin in the game. Boy did we get a lesson in how F'd up the government loan system is. My son is a Freshmen in college an the University of Nebraska. He has always known that he was going to pay for his college, and he didn't know that based on his performance Mom and Dad were going to bless him with a large donation towards his student loans at the end. This way, if he drinks his college away then he gets to enjoy his debt for a very long time. If he does very well in school then he will leave college with little or no debt. However, when he filled out the FAFSA for college he was informed that based on his parents income he was ineligible for any subsidized loans. He in fact wasn't eligible for any loans at all other than a $5k unsubsidized loan from the government that would accrue interest immediately at a 7% rate. They informed him that Mom and Dad would need to pay the additional $18k by the end of next month if you wish to enroll. Or, if your parent's were irresponsible and selfish with their money then they have the option of taking out a federal Parent Plus loan. Yes, My wife and I would take out student loans (in our name) to pay for our son's college due to our "irresponsibility". We also had the option of going to a private institution and taking a loan out as cosigners with our son. My blood was boiling by the time we were done with this whole mess. We have the ability to pay for his tuition and books, but that is exactly what we do not want to do. So, I ended up taking out a student loan (in my name) for my son so that he knows he has a loan. He also knows that it is HIS loan that he is expected to pay for. He is still unaware of our plan to forgive it if he does well in school. Also, due to him having "rich" parents he has to pay interest on the loans as soon as they distribute. Only kids with poor parents get to have their loans differed. So, my son who makes about $300 a mo. working at the mall is having to send almost half of his paycheck to the bank to pay for interest. I'm getting upset again, just typing this. Actually I have a solution for this. When I was about to be a freshman in college, I couldn't get guaranteed loans or subsidized loans because my parents made too much money. So I basically divorced my parents. That is, I claimed myself as an independent person on my tax forms that year. If you and your wife aren't claiming your son as a dependent child and not taking the tax credit then he is considered independent and will then be eligible for subsidized and deferred loans. My parents were NOT happy with me because they didn't get the child tax credit that year but I got my student loan. When was this? I'm 90% sure you can't do this anymore. I actually ended up dropping out of school for a few years, then when I turned 24, my parents income was no longer considered on my FAFSA application. |
| 2013-12-05 1:23 PM in reply to: JoshR |
Elite 4564 Boise | Subject: RE: Political Joe TAN |
| 2013-12-05 1:35 PM in reply to: 0 |
Champion 34263 Chicago | Subject: RE: Political Joe TAN Originally posted by JoshR Originally posted by mr2tony Originally posted by tuwood Originally posted by moondawg14 Originally posted by tuwood Originally posted by JoshR A couple of interesting stories out today. http://money.cnn.com/2013/12/04/pf/college/student-loan-debt/index.... This is going to be such a massive drag on the economy for years to come. I don't think anyone is thinking about this very clearly at all. http://money.cnn.com/2013/12/04/news/companies/libor-europe-fines/i... I'm tired of seeing fines. They don't do anything. Most of them aren't even big enough to be noticeable in the first place. They should require them to suspend some operations or something for these types of violations. There's no question that Student loans and the education industry as a whole are in for a big crash at some point in time in the future. It's the mortgage crisis all over again, and it's so obvious it isn't even funny. The sad part though is young people can't bankrupt their way out of this mess, so they're going to be rocked the rest of their lives. I think I've mentioned this thing called supply and demand and when you have an infinite supply of "free money". Hey, Uncle Obama can I have a loan for $200k to go to school for 4 years that I don't have to pay for until I'm 25? Oh, and I can buy laptops and X-boxes with the extra. sweet. Thanks Uncle Obama.
It's hard to believe (actually, no it isn't) that people aren't doing the math ahead of time. I graduated with about $17,000 in debt from college in 1996. Starting engineer salary for me at that time was about $30k+. (starting is double that today) It was manageable, even with rent and a car payment. We'll definitely be sitting down as college approaches (only 7 more years? crap) and "doing the math" on some of these schools/programs before my kids decide. I will not pay for their entire education (even if I'm able) so they will need to approach college with some forethought. It's time to make college money scarce. Step one should be to allow some portion of college debt to be written off. We did it with freaking mortgages, we can do it with college loans. Allowing lenders to share in the risk of lending is part-and-parcel with responsible lending. If these debts cannot be discharged under any circumstatnces, there is no disincentive for lenders to make "bad" loans. Hmm.... since the repayment of the loan is always guaranteed in this scenario, I wonder if lenders are counting that repayment as income? I'm sure none of these companies are using cash accounting. Accrual method would actually count the income (maybe even assets?) even if its not coming in. Somebody help me here, I'm way out of my league. Point being, companies with large amounts of student loans on the books might *look* good under some accounting scenarios, but if the actual default rate is high... the money really isn't coming in. It has to pop sometime, right? right? We had the same mindset with our kids. We want to teach them financial responsibility and let them have some skin in the game. Boy did we get a lesson in how F'd up the government loan system is. My son is a Freshmen in college an the University of Nebraska. He has always known that he was going to pay for his college, and he didn't know that based on his performance Mom and Dad were going to bless him with a large donation towards his student loans at the end. This way, if he drinks his college away then he gets to enjoy his debt for a very long time. If he does very well in school then he will leave college with little or no debt. However, when he filled out the FAFSA for college he was informed that based on his parents income he was ineligible for any subsidized loans. He in fact wasn't eligible for any loans at all other than a $5k unsubsidized loan from the government that would accrue interest immediately at a 7% rate. They informed him that Mom and Dad would need to pay the additional $18k by the end of next month if you wish to enroll. Or, if your parent's were irresponsible and selfish with their money then they have the option of taking out a federal Parent Plus loan. Yes, My wife and I would take out student loans (in our name) to pay for our son's college due to our "irresponsibility". We also had the option of going to a private institution and taking a loan out as cosigners with our son. My blood was boiling by the time we were done with this whole mess. We have the ability to pay for his tuition and books, but that is exactly what we do not want to do. So, I ended up taking out a student loan (in my name) for my son so that he knows he has a loan. He also knows that it is HIS loan that he is expected to pay for. He is still unaware of our plan to forgive it if he does well in school. Also, due to him having "rich" parents he has to pay interest on the loans as soon as they distribute. Only kids with poor parents get to have their loans differed. So, my son who makes about $300 a mo. working at the mall is having to send almost half of his paycheck to the bank to pay for interest. I'm getting upset again, just typing this. Actually I have a solution for this. When I was about to be a freshman in college, I couldn't get guaranteed loans or subsidized loans because my parents made too much money. So I basically divorced my parents. That is, I claimed myself as an independent person on my tax forms that year. If you and your wife aren't claiming your son as a dependent child and not taking the tax credit then he is considered independent and will then be eligible for subsidized and deferred loans. My parents were NOT happy with me because they didn't get the child tax credit that year but I got my student loan. When was this? I'm 90% sure you can't do this anymore. I actually ended up dropping out of school for a few years, then when I turned 24, my parents income was no longer considered on my FAFSA application. It was a long time ago -- perhaps the difference is that when I was that age they didn't have the 24-or-under rule. Or at least I don't think they did because I certainly wasn't asked about it. If I recall, the rule was 18-and-under because I couldn't do it until after I turned 18, which wasn't until after I started college. ETA: I was also enlisted in the military but hadn't yet left for basic training, so perhaps that had something to do with it. Also, it was 20 years ago so I guess I shouldn't be surprised that things have changed. Back in my day ... Edited by mr2tony 2013-12-05 1:46 PM |
| 2013-12-05 1:47 PM in reply to: chirunner134 |
Champion 6993 Chicago, Illinois | Subject: RE: Political Joe TAN from fafsa For the 2013-2014 academic year, you’re an independent student if at least one of the following applies to you: Please note that on some of the questions you are instructed to go to a certain page on the FAFSA, for detailed information (See Note page...). Were you born before January 1, 1990? As of today, are you married? (Also answer “Yes” if you are separated but not divorced.) At the beginning of the 2013-2014 school year, will you be working on a master’s or doctorate program (such as an MA, MBA, MD, JD, PhD, EdD, graduate certificate, etc.)? Are you currently serving on active duty in the U.S. Armed Forces for purposes other than training? See Notes page 2. Are you a veteran of the U.S. Armed Forces? See Notes page 2. Do you have children who will receive more than half of their support from you between July 1, 2013 and June 30, 2014? Do you have dependents (other than your children or spouse) who live with you and who receive more than half of their support from you, now and through June 30, 2014? At any time since you turned age 13, were both your parents deceased, were you in foster care or were you a dependent or ward of the court? See Notes page 9. As determined by a court in your state of legal residence, are you or were you an emancipated minor? See Notes page 9. As determined by a court in your state of legal residence, are you or were you in legal guardianship? See Notes page 9. At any time on or after July 1, 2012, did your high school or school district homeless liaison determine that you were an unaccompanied youth who was homeless? See Notes page 9. At any time on or after July 1, 2012, did the director of an emergency shelter or transitional housing program funded by the U.S. Department of Housing and Urban Development determine that you were an unaccompanied youth who was homeless? See Notes page 9. At any time on or after July 1, 2012, did the director of a runaway or homeless youth basic center or transitional living program determine that you were an unaccompanied youth who was homeless or were self-supporting and at risk of being homeless? See Notes page 9. |
| 2013-12-05 1:51 PM in reply to: chirunner134 |
Champion 34263 Chicago | Subject: RE: Political Joe TAN Well I was in right under the gun -- Independent student status has not been based on whether the student is claimed as an exemption for two decades. The old “bright line test”, which was prone to abuse, was repealed by the Higher Education Amendments of 1992 (P.L. 102-325) effective starting with the 1993-94 award year on July 1, 1993. God I'm old. |
| 2013-12-05 1:59 PM in reply to: mr2tony |
Elite 4564 Boise | Subject: RE: Political Joe TAN Originally posted by mr2tony Well I was in right under the gun -- Independent student status has not been based on whether the student is claimed as an exemption for two decades. The old “bright line test”, which was prone to abuse, was repealed by the Higher Education Amendments of 1992 (P.L. 102-325) effective starting with the 1993-94 award year on July 1, 1993. God I'm old. The gubmint has really gone out of their way to force students into loans and then in turn to make those loans nondischargeable. I really think this crisis is going to undermine economic growth for quite some time. I don't recall exactly what it is, but the delinquency rate has been climbing for quite some time and is only going higher. That in turn just racks up even more nondischargeable debt. |
| 2013-12-05 2:26 PM in reply to: JoshR |
Champion 34263 Chicago | Subject: RE: Political Joe TAN Originally posted by JoshR Originally posted by mr2tony Well I was in right under the gun -- Independent student status has not been based on whether the student is claimed as an exemption for two decades. The old “bright line test”, which was prone to abuse, was repealed by the Higher Education Amendments of 1992 (P.L. 102-325) effective starting with the 1993-94 award year on July 1, 1993. God I'm old. The gubmint has really gone out of their way to force students into loans and then in turn to make those loans nondischargeable. I really think this crisis is going to undermine economic growth for quite some time. I don't recall exactly what it is, but the delinquency rate has been climbing for quite some time and is only going higher. That in turn just racks up even more nondischargeable debt. OK well is the government really forcing people to borrow? In my opine you hit the nail on the head earlier in your assertion that tuition costs are out of control. It's true, they are. But that doesn't mean people HAVE to borrow. They have options. They could choose to work harder to get a scholarship, join the military and get the GI Bill, work a full-time job while taking as few classes as possible to pay as they go. They could get rid of their cell phones, ipads, cars, get a smaller apartment, drink less beer and stop smoking and use that money for tuition, etc. etc. etc. They could also choose to go to a cheaper school, if one's around, or NOT go to college at all, but then they'd be potentially affecting their future earning ability. |
| 2013-12-05 2:29 PM in reply to: mr2tony |
Pro 15655 | Subject: RE: Political Joe TAN Originally posted by mr2tony Originally posted by JoshR OK well is the government really forcing people to borrow? In my opine you hit the nail on the head earlier in your assertion that tuition costs are out of control. It's true, they are. But that doesn't mean people HAVE to borrow. They have options. They could choose to work harder to get a scholarship, join the military and get the GI Bill, work a full-time job while taking as few classes as possible to pay as they go. They could get rid of their cell phones, ipads, cars, get a smaller apartment, drink less beer and stop smoking and use that money for tuition, etc. etc. etc. They could also choose to go to a cheaper school, if one's around, or NOT go to college at all, but then they'd be potentially affecting their future earning ability. Originally posted by mr2tony Well I was in right under the gun -- Independent student status has not been based on whether the student is claimed as an exemption for two decades. The old “bright line test”, which was prone to abuse, was repealed by the Higher Education Amendments of 1992 (P.L. 102-325) effective starting with the 1993-94 award year on July 1, 1993. God I'm old. The gubmint has really gone out of their way to force students into loans and then in turn to make those loans nondischargeable. I really think this crisis is going to undermine economic growth for quite some time. I don't recall exactly what it is, but the delinquency rate has been climbing for quite some time and is only going higher. That in turn just racks up even more nondischargeable debt. Part of tghe reason tuition costs are out of control is because of the availability of money from the govt. through student loans. Schools learned to get it all, and they do. |
| 2013-12-05 2:49 PM in reply to: mr2tony |
Elite 4564 Boise | Subject: RE: Political Joe TAN Originally posted by mr2tony Originally posted by JoshR Originally posted by mr2tony Well I was in right under the gun -- Independent student status has not been based on whether the student is claimed as an exemption for two decades. The old “bright line test”, which was prone to abuse, was repealed by the Higher Education Amendments of 1992 (P.L. 102-325) effective starting with the 1993-94 award year on July 1, 1993. God I'm old. The gubmint has really gone out of their way to force students into loans and then in turn to make those loans nondischargeable. I really think this crisis is going to undermine economic growth for quite some time. I don't recall exactly what it is, but the delinquency rate has been climbing for quite some time and is only going higher. That in turn just racks up even more nondischargeable debt. OK well is the government really forcing people to borrow? In my opine you hit the nail on the head earlier in your assertion that tuition costs are out of control. It's true, they are. But that doesn't mean people HAVE to borrow. They have options. They could choose to work harder to get a scholarship, join the military and get the GI Bill, work a full-time job while taking as few classes as possible to pay as they go. They could get rid of their cell phones, ipads, cars, get a smaller apartment, drink less beer and stop smoking and use that money for tuition, etc. etc. etc. They could also choose to go to a cheaper school, if one's around, or NOT go to college at all, but then they'd be potentially affecting their future earning ability. Here's the thing though. Cheap schools are still expensive. Depending on where you live also, you may not have many choices. As i sadi earlier, it's over 22k just for tuition to go to BSU for 4 years and BSU is one of the cheapest schools in the country. What if you live somewhere not nearby a school and have to move and pay for a place to stay as well? Here's what BSU has to say. Idaho Resident (full time) One Semester Full Year Tutuion & Fees $3,146 $6,292 Books $635 $1,270 Room/Board $3,808 $7,616 Transportation $1,085 $2,170 Personal $1,499 $2,998 TOTAL $10,173 $20,346 This is what a CHEAP school looks like. I genuinely think you'd be hard pressed to find any students who are going to make it out of school without any debt unless they are being assisted by friends/family. I don't know what I'm going to be able to tell my sons if they want to go to school. At the current rate of increase, the tuiton for both of them will be almost 30k/yr just to go to BSU. It's insane. |
| 2013-12-05 4:13 PM in reply to: JoshR |
Champion 34263 Chicago | Subject: RE: Political Joe TAN Originally posted by JoshR Originally posted by mr2tony Originally posted by JoshR Originally posted by mr2tony Well I was in right under the gun -- Independent student status has not been based on whether the student is claimed as an exemption for two decades. The old “bright line test”, which was prone to abuse, was repealed by the Higher Education Amendments of 1992 (P.L. 102-325) effective starting with the 1993-94 award year on July 1, 1993. God I'm old. The gubmint has really gone out of their way to force students into loans and then in turn to make those loans nondischargeable. I really think this crisis is going to undermine economic growth for quite some time. I don't recall exactly what it is, but the delinquency rate has been climbing for quite some time and is only going higher. That in turn just racks up even more nondischargeable debt. OK well is the government really forcing people to borrow? In my opine you hit the nail on the head earlier in your assertion that tuition costs are out of control. It's true, they are. But that doesn't mean people HAVE to borrow. They have options. They could choose to work harder to get a scholarship, join the military and get the GI Bill, work a full-time job while taking as few classes as possible to pay as they go. They could get rid of their cell phones, ipads, cars, get a smaller apartment, drink less beer and stop smoking and use that money for tuition, etc. etc. etc. They could also choose to go to a cheaper school, if one's around, or NOT go to college at all, but then they'd be potentially affecting their future earning ability. Here's the thing though. Cheap schools are still expensive. Depending on where you live also, you may not have many choices. As i sadi earlier, it's over 22k just for tuition to go to BSU for 4 years and BSU is one of the cheapest schools in the country. What if you live somewhere not nearby a school and have to move and pay for a place to stay as well? Here's what BSU has to say. Idaho Resident (full time) One Semester Full Year Tutuion & Fees $3,146 $6,292 Books $635 $1,270 Room/Board $3,808 $7,616 Transportation $1,085 $2,170 Personal $1,499 $2,998 TOTAL $10,173 $20,346 This is what a CHEAP school looks like. I genuinely think you'd be hard pressed to find any students who are going to make it out of school without any debt unless they are being assisted by friends/family. I don't know what I'm going to be able to tell my sons if they want to go to school. At the current rate of increase, the tuiton for both of them will be almost 30k/yr just to go to BSU. It's insane. Sucks for sure, but that's why you have a college fund for your kids. I mean, you DO have a college fund for your kids, right? |
| 2013-12-05 4:58 PM in reply to: mr2tony |
Elite 4564 Boise | Subject: RE: Political Joe TAN Originally posted by mr2tony Originally posted by JoshR Originally posted by mr2tony Originally posted by JoshR Originally posted by mr2tony Well I was in right under the gun -- Independent student status has not been based on whether the student is claimed as an exemption for two decades. The old “bright line test”, which was prone to abuse, was repealed by the Higher Education Amendments of 1992 (P.L. 102-325) effective starting with the 1993-94 award year on July 1, 1993. God I'm old. The gubmint has really gone out of their way to force students into loans and then in turn to make those loans nondischargeable. I really think this crisis is going to undermine economic growth for quite some time. I don't recall exactly what it is, but the delinquency rate has been climbing for quite some time and is only going higher. That in turn just racks up even more nondischargeable debt. OK well is the government really forcing people to borrow? In my opine you hit the nail on the head earlier in your assertion that tuition costs are out of control. It's true, they are. But that doesn't mean people HAVE to borrow. They have options. They could choose to work harder to get a scholarship, join the military and get the GI Bill, work a full-time job while taking as few classes as possible to pay as they go. They could get rid of their cell phones, ipads, cars, get a smaller apartment, drink less beer and stop smoking and use that money for tuition, etc. etc. etc. They could also choose to go to a cheaper school, if one's around, or NOT go to college at all, but then they'd be potentially affecting their future earning ability. Here's the thing though. Cheap schools are still expensive. Depending on where you live also, you may not have many choices. As i sadi earlier, it's over 22k just for tuition to go to BSU for 4 years and BSU is one of the cheapest schools in the country. What if you live somewhere not nearby a school and have to move and pay for a place to stay as well? Here's what BSU has to say. Idaho Resident (full time) One Semester Full Year Tutuion & Fees $3,146 $6,292 Books $635 $1,270 Room/Board $3,808 $7,616 Transportation $1,085 $2,170 Personal $1,499 $2,998 TOTAL $10,173 $20,346 This is what a CHEAP school looks like. I genuinely think you'd be hard pressed to find any students who are going to make it out of school without any debt unless they are being assisted by friends/family. I don't know what I'm going to be able to tell my sons if they want to go to school. At the current rate of increase, the tuiton for both of them will be almost 30k/yr just to go to BSU. It's insane. Sucks for sure, but that's why you have a college fund for your kids. I mean, you DO have a college fund for your kids, right? Nope, I'm busy paying off MY college fund still. |
|
|
|
|
|
| ||||
|
| |||
|
| |||
|
|
View profile
Add to friends
Go to training log
Go to race log
Send a message
View album
CONNECT WITH FACEBOOK