Comments on: The Government’s Student Bailout: Federal Loan Changes

By: judith Rosenberg

judith Rosenberg — Thu, 25 Jun 2009 23:22:31 +0000

While I applaud Pres. Obama’s intent to help students out, these loans still don’t come close to covering real college costs. And even if the repayment is delayed, they are still loans!

A different approach that will help create money for college is to start your own small business. Our site has all the detailed info you need to get started. Even if you have a job, the business tax benefits will put extra $$ in your pocket right away. Check out our free report, “how to Reclaim $$ from the IRS” to help pay for school.

http://www.bigmoneyforcollege.com/report.html

By: Weekly Roundup: I Finally Switched to Mac — Broke Grad Student

Weekly Roundup: I Finally Switched to Mac — Broke Grad Student — Wed, 24 Jun 2009 11:31:09 +0000

[...] The Government’s Student Bailout: Federal Loan Changes at Poorer Than You [...]

By: E Williams

E Williams — Tue, 23 Jun 2009 21:39:46 +0000

Oh my gosh! $100,000! I feel for you. But at least your profession is high paying and well needed. I went into Business and my debt is about $20,000. i think education is a rip off anyway. I mean, I don’t even use my degree at all! I am an internet marketer, but there are somet things I learn at school.

Also, if this is true (I doubt it), it would really help students out big time. They know education is overated and cost too damn much!, but they still live off the hog. Man, My best friend graduated the top of his class majoring in Business and communications and is working as a car salesman! It is so horrible! So much for an education. Good post. You really broke down the numbers big time. I won’t hold my breath on this “student bailout” though.

By: V

Tue, 23 Jun 2009 15:02:58 +0000

very informative post!
Thank you for the providing the information in detail!

By: 6.20.09 Featured blogs of the day – Student Bloggers

6.20.09 Featured blogs of the day – Student Bloggers — Sat, 20 Jun 2009 16:15:24 +0000

[...] Than You] breaks down the US government’s student bailout in the form of federal loan [...]

By: Jerry

Jerry — Fri, 19 Jun 2009 20:48:47 +0000

These new programs will lead to a big change for me when I graduate with HUGE school debt. However, I am going to try to get a job at a hospital that will pay off my loans in exchange for an agreement to work there for a period of time. If they offer that and decent health insurance, I’ll stay for a LONG time!
Jerry

By: AmandaLP

AmandaLP — Fri, 19 Jun 2009 20:04:10 +0000

For Sam:

Debt forgiveness after 25 years is actually taxed as income. So, of someone has 100k worth of debt left over at the end of 25 years, they have to pay taxes on that amount.

If one is doing the 10 year public service forgiveness program, the money is forgiven without tax penalty. But, without that program, and under the current rules, taxes would be owed on the remainder.

The program is not designed for people to not pay back their loans. It is designed to encourage people to seek public service jobs without worrying about paying back their loans.

By: Stephanie

Stephanie — Thu, 18 Jun 2009 18:15:41 +0000

Sourav, what do you mean by "safe?" All investments inherently carry risk, including keeping your money in cash (cash carries the risk of inflation). If you're looking for advice on investing, especially in stocks, I suggest you check out The Bogleheads' Guide to Investing.

By: Sourav

Sourav — Thu, 18 Jun 2009 09:29:45 +0000

Hello,
Just wanted to ask you that how much is it safe to invest money in stock exchanges.

By: Griffin

Griffin — Thu, 18 Jun 2009 05:20:21 +0000

PS: I have known dozens of people who wanted to go to college to pull themselves out of poverty, but who thought that debt would haunt them forever. So instead, they more or less stay in poverty forever. Our tax dollars are paying for their groceries because they can’t afford to feed themselves, when it could be going to making sure that they pay taxes for the next 40+ years. I know which I’d rather pay for.

PSS: Your (and my) tax dollars have given me about $16′000 in pell grants so far, so your cut comes out to about $0.00004. When I leave college with my doctorate, I’ll have about $150′000 in debt and will wind up having $0 of it forgiven by the government unless my work (20% charity) would be considered “public service.”