SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Gold/Mining/Energy : Gold & Gold Stock Analysis -- Ignore unavailable to you. Want to Upgrade?


To: GROUND ZERO™ who wrote (27231)2/2/2012 10:15:26 AM
From: IngotWeTrust6 Recommendations  Read Replies (1) | Respond to of 29622
 
The only "forgiven loans" I know anything about are med student turned doctor loans. The rest of the unsuspecting teens and their should know better parents loans are NOT forgiven. Don't know if the old "peace corp service" gig is still in effect or not.

These are so very much "not forgiven" that they are normally not even dischargable when filing for bankruptcy.

My piddly $2500 from several decades ago completed education is micro-miniscule compared to the horrendous indebtedness attached to today's cap and gown crowd.

So, with that background in mind, GZ, would you please elaborate a little????

I know about, oh, let's say a small village of NON-med student/now Drs. who would LOVE to get in on some of that loan GSL forgiveness gig.

But you're right on the spiralling cost of education SCAM part. No need for collusion there. It is despicable, and has been for a very long time.

rant off.



To: GROUND ZERO™ who wrote (27231)2/2/2012 11:57:17 AM
From: benwood  Respond to of 29622
 
That might be a general rule, but it doesn't apply everywhere (at least, that's not all there would be to it). The Seattle Times had a report this morning about our own state universities -- the primary driver of tuition increases has been the collapse in state support. When I was in school a few decades ago, state residents paid 75% of the tuition. Now they pay 30%. That has nearly tripled the component that local kids pay in real terms. It's also gone up for inflation of course. Washington ranks 48th in higher ed support (by it's own state).

I've heard so many stories about graduates trapped in student loans (due to the revision in the BK code) that I wonder if what you describe is anecdotal evidence that in totality represents a thin sliver of the overall issue? Any numbers of how much forgiveness has occurred versus the total outstanding loans, public and private?