Wish u luck Mac..

Im hal a paycheck away from being bankrupt again, paying off several loans and the state (2 accounts) that I got while I was out of work for a year. 1/3rd of my check is gone before I get a dime of it. Now they want
to cut it again.

Ive been researching on the internet and what I have found is down right criminal. The government is as much to blame as anyone for this stuff.
We need HELP! And im not living high off the hogg. Ive got a 15 yer old car, that I cannot afford to replace. And I at least have a full time job.

With the interest growing faster than I can pay, I will never be able to pay off the principal. If it were just that, I might some day see the light at the end of this ttunnel.

But even if I get the “income based payment” plan, 25 years from now, I will be 70. These things are nearly 20 years old!

Well, there goes my hopes of being able to retire.. Now I know why some students just give up and others take the final round out (If ya know what I mean,- suicide)
.

1. Lower interest rate. As compare to other loan, home equity loan is comparatively much lower that other loans, which make it easier to be paid off. If you continue repay the same amount you pay now and the interest rate has been lower, meaning that you pay more toward the principal and making your debt to be paid off faster.

2. The interest of your home equity loan is tax-deductible; you save on interest pay for home equity loan from the tax-deduction.

3. Lower monthly payment. If you find hardship repaying your current debt repayment, then selecting longer repayment term with a home equity loan will help to lower the monthly payment so a level that is affordable by your current financial situation. Be aware that by taking long period of loan term, you will be paying more in total interest.

That includes debilitating long-term illness and bankruptcy. You can do a bk but you will still owe the student loan.

ACTUALLY what many people don’t know is that a student loan IS dischargable by death. You just have to apply with the Dept. Of Ed and submit a death certificate. I work for a student loan consolidation company and there are a lot of loopholes to student loans that people don’t know about. In some circumstances you can have a loan discharged by bankruptcy. I have seen both of these situations occur. In addition I agree with the argument that states we teach our children to NOT go into debt them force them into it with the idea of a college education. However, eliminating the student loan industry also elimates hundreds of thousands of jobs for many people all over the country. Is that really the best solution or our economy.

I just finished reading “Boomsday” by Christopher Buckley. Go read it. The book will not address the student loan issue specifically (it focuses more on social security), but the analogies are there and you’ll at least laugh out loud about it (until, that is, you get your monthly loan payment invoice).

Having something handed to you, without having to pay back, yield much worse results. It’s human nature.

America isn’t going to find salvation in charging its people to make America better

They’re not paying to make America better, they’re paying to make themselves better.

It’s not right that we charge our citizens (of any age) to become a productive member of our society.

You can be a productive person without being a college graduate. But if you want to be more productive (improve yourself), why shouldn’t you pay? You’re the one receiving the benefit, why shouldn’t you bear the costs?

Hell, this country should’ve paid *ME* to go to college.

That implies that other people receive more benefit from your education than you do. Or that they owe you a debt.

I’m also bothered by the (perhaps unintentionally) condescending tone that implies people without a college education are nonproductive and doomed to live in squalor.

Why stop there? Should AMerica give you a house, a job, and a car, too?

Have you ever stopped to consider why college is so expensive? Has it occurred to you that the guaranteed floor of loan payments props up an incredible amount of waste in the education industry?

Have you asked yourself what college would cost if Universities had to deal with market rates instead of artificial floors?

Or would you instead like to increase your tax burden (and, based on my reading of your blog), be utterly stunned by your taxes going up?

One thing about student loans many don’t know is they are not discharageble by anything but death.

That includes debilitating long-term illness and bankruptcy. You can do a bk but you will still owe the student loan.