The President keeps trying to put band aids on programs that need to be completely rebuilt. Must be an election coming up. Need to not allow educational cost to continue to rise more than the rate of inflation. The 6.8% interest rate was great when the prime was above 10%. Today the 6.8% is well above the current prime. Reducing the interest rate would allow most students to afford to pay the complete loan.
The government says the country needs more college graduates, yet seems to do as little as possible to encourage people to make the financial commitment necessary.
I took out a loan of $2,500 in 1981 for college. I came from a poor family but got good grades. Due to circumstances, I never got a degree. In the past 30 years, I have paid over $20,000 on this loan. Due to some periods of dire illness and unemployment and being a single mother of 2 children whose father walked out of the picture, there were periods where I could just not make the pyaments. But the interest still racked up. I had it down to $3,000 two years ago when our company went to a 4 day work week. Within two years, the interest racked up and it is now over $6,000. Payments have been deferred but they do not defer interest. they are making a fortune off the backs of people who can ill afford it. I do not even have health insurane at the age of 48 as I can not afford it on what I make. This country should be ashamed of itself. Kate Olsen, Jeffersonville, NY
People need to take responsibility for their actions. I racked up 60k in student loans and have high payments every month. When I had a hard time making the payments I got a second job waitressing to help cover the costs. I took out the loans, I'm responsible for paying them back. 6 years later I'm almost halfway though paying back my loans. Once I started seeing the progress I was making I was even more motivated to pay them back and found new ways to cut expenses to do so. If we make this stuff income based it will encourage people to be lazy. Why go get a second job and take responsibility or budget better when one could sit at home make small payments and wait for the government to forgive my debt. Sadly there are a lot of people that will take the hand-out when they could step it up if they just tried.
One issue that hasn't been addressed is that for some people a lot of this debt is interest - students aren't getting a free ride on these loans, they are more getting a break on the interest. When I was taking out loans in the 90s interest was around 8% and even consolidation hasn't helped that number. I have been paying dutifully for 10+ years and getting nowhere because all I am paying is interest. I am sure I am not the only one.
Also, as Molly stated, when I was in school the big issue was to stay in at all costs - EVERYONE, including my parents, teachers, etc. advised against leaving. All advised me to take on more debt because I could "just pay it back." Should I have known better? Probably. And I would have if I had been 40 when I went to school. The entire system was geared toward making loans as easy and accessible as possible with the implicit promise a good job would help me pay them back.
So sorry conservative wingnuts, its not all as black and white as you'd like to make it seem...
I think anyone saying "breast is best" realizes that not everyone can breast feed...They're just stating a proven fact. As far as "wants" to honestly I'd say its selfish, (I told my wife the same thing) she could have but choose not to. Its also a proven fact that the sun causes cancer...insects carry disease...etc...etc. So unless were going to put our little ones in a bubble there always going to be exposed to somthing thats not the "best"....Think about what your parents or their parents were doing back in the 60's.
Very nice article, should be helpful for people in need. We should all be prepared for the worse in this economy.
I have drafted a comprehensive list of 20 things to do when you are on the verge of being laid off. Do check out the link if interested. I will be glad if you get benefitted by the list.
I usually make all of the kids' costumes, but we just moved cross country for the doctorate into a tiny place and I left the sewing machine at home! So I bought one at an online clearance sale, handed down the second, and inherited the third from a friend.
This makes me miss apple picking in New England so much. One of my favorite fall activities is making a big ol' pot of applesauce. No sugar, lemon juice, or spices for me, though -- just apples and maybe a little bit of cider instead of water.
I also like making quesadillas with apple and sharp cheddar sometimes.
I added my Lego costume to the discussion above, but here is another good one my sister did for her kids: Mr. and Mrs. Potato Head!! So cute, and so easy. Also a no-sew idea!
Wow, we are really a socialist country! All that debt being transferred to those who pay their own way and their tax bills. Plus one more boost to the inflation of education prices. I suppose we'll only learn when it's way too late.
Hi Julie, I am 3 years into a 30year mortgage. My balance is $270,000 with an interest rate of 5.125%. My monthly payment is $1547. I pay $800 every two weeks (set up free through my mortgage company). I was thinking about refinancing the balance just for a lower rate. This payment makes my budget pretty tight and in approx. 11 years my monthly income will be decreasing by $1000 per month. I was wondering what you think the best strategy would be right now, a 5/2 arm, refi to another 30yr fixed at a lower rate, 15 yr fixed at a lower rate, etc...
how would you use it though? I have had hair loss due to stress I think and mild PCOS recently. How would you apply it and where? I also heard you could use it for intimate wash is that true?
Thankx
Is "socializing losses" not what the banks got? The biggest capitalists of all, the greediest and most wealthy get a socialist solution to allow them time to bankrupt the taxpayer who his funding their socialist solution. Can anyone explain this?
I'm right there with ya, only I shoot for Halloween as my "90% done" date. This has been my routine for the last 8 years and I will never go back. I also keep spreadsheets (or more recently, iPhone app) that lists what I purchased, the location and the amount I spent. I don't do this for a budget reason but more as a tickler for gifts from one year to the next. If I purchased a book for a friend who enjoyed it, visiting my list reminds me of that gift and to look for a book by the same author.
As we speak, 75% of my gifts are wrapped but without bows or tags. That's my Saturday project. I'll also be using the iPad app to send personalized holiday cards this year. Writing cards is something I loathe, but I feel I need to send out roughly 25.
Then December is for me to enjoy as I wish: baking, parties, laughing at the procrastinators.
The President keeps trying to put band aids on programs that need to be completely rebuilt. Must be an election coming up. Need to not allow educational cost to continue to rise more than the rate of inflation. The 6.8% interest rate was great when the prime was above 10%. Today the 6.8% is well above the current prime. Reducing the interest rate would allow most students to afford to pay the complete loan.
The government says the country needs more college graduates, yet seems to do as little as possible to encourage people to make the financial commitment necessary.
I took out a loan of $2,500 in 1981 for college. I came from a poor family but got good grades. Due to circumstances, I never got a degree. In the past 30 years, I have paid over $20,000 on this loan. Due to some periods of dire illness and unemployment and being a single mother of 2 children whose father walked out of the picture, there were periods where I could just not make the pyaments. But the interest still racked up. I had it down to $3,000 two years ago when our company went to a 4 day work week. Within two years, the interest racked up and it is now over $6,000. Payments have been deferred but they do not defer interest. they are making a fortune off the backs of people who can ill afford it. I do not even have health insurane at the age of 48 as I can not afford it on what I make. This country should be ashamed of itself. Kate Olsen, Jeffersonville, NY
People need to take responsibility for their actions. I racked up 60k in student loans and have high payments every month. When I had a hard time making the payments I got a second job waitressing to help cover the costs. I took out the loans, I'm responsible for paying them back. 6 years later I'm almost halfway though paying back my loans. Once I started seeing the progress I was making I was even more motivated to pay them back and found new ways to cut expenses to do so. If we make this stuff income based it will encourage people to be lazy. Why go get a second job and take responsibility or budget better when one could sit at home make small payments and wait for the government to forgive my debt. Sadly there are a lot of people that will take the hand-out when they could step it up if they just tried.
Sometimes I boil some water and cinnamon. Then I walk around my apartment letting the steam engulf the rooms.
Thanks @sweepingme
Thanks for the topic suggestion! :)
i'll be there! thanks for choosing my topic idea:)
@JoeyfromSC
Cool idea!
Good word! So true!
Wow! What a great testament to those bonding times!
Love the disclaimer about car finishes! :)
One issue that hasn't been addressed is that for some people a lot of this debt is interest - students aren't getting a free ride on these loans, they are more getting a break on the interest. When I was taking out loans in the 90s interest was around 8% and even consolidation hasn't helped that number. I have been paying dutifully for 10+ years and getting nowhere because all I am paying is interest. I am sure I am not the only one.
Also, as Molly stated, when I was in school the big issue was to stay in at all costs - EVERYONE, including my parents, teachers, etc. advised against leaving. All advised me to take on more debt because I could "just pay it back." Should I have known better? Probably. And I would have if I had been 40 when I went to school. The entire system was geared toward making loans as easy and accessible as possible with the implicit promise a good job would help me pay them back.
So sorry conservative wingnuts, its not all as black and white as you'd like to make it seem...
I think anyone saying "breast is best" realizes that not everyone can breast feed...They're just stating a proven fact. As far as "wants" to honestly I'd say its selfish, (I told my wife the same thing) she could have but choose not to. Its also a proven fact that the sun causes cancer...insects carry disease...etc...etc. So unless were going to put our little ones in a bubble there always going to be exposed to somthing thats not the "best"....Think about what your parents or their parents were doing back in the 60's.
Very nice article, should be helpful for people in need. We should all be prepared for the worse in this economy.
I have drafted a comprehensive list of 20 things to do when you are on the verge of being laid off. Do check out the link if interested. I will be glad if you get benefitted by the list.
http://onecentatatime.com/20-things-to-do-before-you-lose-your-job/
I usually make all of the kids' costumes, but we just moved cross country for the doctorate into a tiny place and I left the sewing machine at home! So I bought one at an online clearance sale, handed down the second, and inherited the third from a friend.
I've heard about the apple-cheddar pairing. I'll have to try it.
This makes me miss apple picking in New England so much. One of my favorite fall activities is making a big ol' pot of applesauce. No sugar, lemon juice, or spices for me, though -- just apples and maybe a little bit of cider instead of water.
I also like making quesadillas with apple and sharp cheddar sometimes.
I added my Lego costume to the discussion above, but here is another good one my sister did for her kids: Mr. and Mrs. Potato Head!! So cute, and so easy. Also a no-sew idea!
http://stayathomeworker.com/2011/10/27/easy-diy-halloween-costume-potato...
Wow, we are really a socialist country! All that debt being transferred to those who pay their own way and their tax bills. Plus one more boost to the inflation of education prices. I suppose we'll only learn when it's way too late.
Hi Julie, I am 3 years into a 30year mortgage. My balance is $270,000 with an interest rate of 5.125%. My monthly payment is $1547. I pay $800 every two weeks (set up free through my mortgage company). I was thinking about refinancing the balance just for a lower rate. This payment makes my budget pretty tight and in approx. 11 years my monthly income will be decreasing by $1000 per month. I was wondering what you think the best strategy would be right now, a 5/2 arm, refi to another 30yr fixed at a lower rate, 15 yr fixed at a lower rate, etc...
how would you use it though? I have had hair loss due to stress I think and mild PCOS recently. How would you apply it and where? I also heard you could use it for intimate wash is that true?
Thankx
Is "socializing losses" not what the banks got? The biggest capitalists of all, the greediest and most wealthy get a socialist solution to allow them time to bankrupt the taxpayer who his funding their socialist solution. Can anyone explain this?
I don't need a costume. I'm scary enough as it is!
liked on facebook.
Gaawsh Yes! When i had to do bills once with paper, envelopes, stamps and feet it took forever and was incredibly tedious.
I'm right there with ya, only I shoot for Halloween as my "90% done" date. This has been my routine for the last 8 years and I will never go back. I also keep spreadsheets (or more recently, iPhone app) that lists what I purchased, the location and the amount I spent. I don't do this for a budget reason but more as a tickler for gifts from one year to the next. If I purchased a book for a friend who enjoyed it, visiting my list reminds me of that gift and to look for a book by the same author.
As we speak, 75% of my gifts are wrapped but without bows or tags. That's my Saturday project. I'll also be using the iPad app to send personalized holiday cards this year. Writing cards is something I loathe, but I feel I need to send out roughly 25.
Then December is for me to enjoy as I wish: baking, parties, laughing at the procrastinators.