April 26th, 2012 — 3:49am
How much student loan debt is reasonable ? What happens when students borrow more for college than they can pay back ? Student loan debt has been expected to reach the one trillion dollar mark this Spring, and today was noted at many activities across the nation as the day that it would happen.
Students protesting the student loan debt problem were at several different colleges today in an effort to draw attention to the dire situation of students leaving college with large debt that will seriously affect their lifestyle. The cost of college tuition has far exceed the rate of inflation, and students cannot work summer jobs to pay for college as their parents did. College graduates may be in for a rude awakening when they realize that high balances on student loan debt will affect their ability to purchase a car or a home and other consumer purchases that college graduates assume that they will be able to afford.
As it stands, on July 1 the interest rate on federal student loans may double. Currently at 3.4 %, federal student loans that originate after July 1 will have a 6.8% interest rate. President Obama has made Congress aware of his desire that this does not happen, but it is not his decision to make.
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April 21st, 2012 — 5:43am
With student loan debt over a trillion dollars, this situation is no laughing matter. It is downright scary. But just for now, here are some funny graduation quotes that I found on another website.
I think sleeping was my problem in school. If school had started at 4:00 in the afternoon, I’d be a college graduate today. George Foreman
Your families are extremely proud of you. You can’t imagine the sense of relief they are experiencing. This would be a most opportune time to ask for money. Gary Bolding
People will frighten you about a graduation…They use words you don’t hear often… “And we wish you Godspeed.” It is a warning, Godspeed. It means you are no longer welcome here at these prices. Bill Cosby
Commencement speeches were invented largely in the belief that outgoing college students should never be released into the world until they have been properly sedated. Garry Trudeau
The trouble with learning from experience is that you never graduate. Doug Larson
If you feel that you have both feet planted on level ground, then the university has failed you. Robert Goheen
Of course there’s a lot of knowledge in universities: the freshmen bring a little in; the seniors don’t take much away, so knowledge sort of accumulates. Dr. A. Lawrence Lowell
To those of you who received honors, awards and distinctions, I say well done. And to the C students, I say you too may one day be president of the United States. George W. Bush
A man who has never gone to school may steal from a freight car; but if he has a university education, he may steal the whole railroad. Theodore Roosevelt
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April 16th, 2012 — 5:54pm
You can use StudentLoanList to obtain donations from parents, family and others ! The StudentLoanList is designed to give our registered users privacy and anonymity. However, if you are not shy about friends and loved ones knowing about your massive student loan debt, then tell your parents, grandparents or perhaps that rich uncle – or anyone else that has extra money – that you are registered on www.studentloanlist.com. Tell them that you would love for them to make a donation toward your student loan debt. You can tell them that the website is open 24 hours a day, 7 days a week !
Show your support for the StudentLoanList ! Donations are always welcome to help with the operating expenses. It’s simple to donate – just click on the DONATE button. Any and all donations are greatly appreciated. While our operating expenses are minimal, they do add up over time. Thank you!
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April 6th, 2012 — 9:37pm
I previously wrote about how some individuals with student loans can have them discharged if they should unfortunately become permanently disabled. What a wonderful relief this must be to someone who has had the trauma of becoming disabled ! But wait, apparantly it is not that simple. A woman in New Jersey had her $91,000 debt discharged but then she was informed that the $91,000 would be reported to the IRS as “cancellation of debt income”. A more in depth article on this subject on yahoo.com states that ”The Department of the Treasury has specifically stated that student loans cancelled due to the Death and Disability Discharge (Section 437(a) of the Higher Education Act of 1965) are taxable”. However, it appears that if you have yourself declared “insolvent” prior to the debt discharge, there may be a chance that you will not be taxed, but you must know to declare yourself insolvent, or the insolvency exclusion may not apply to you. So be sure to consult an attorney or accountant if you are considering filing for a disability discharge. To read a yahoo article on this subject, click here.
Show your support for the StudentLoanList ! Donations are always welcome to help with the operating expenses. It’s simple to donate – just click on the DONATE button. Any and all donations are greatly appreciated. While our operating expenses are minimal, they do add up over time. Thank you!
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