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Student debt.

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Random User
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Post by Random User » Wed Jan 04, 2017 7:43 am

The last student loan I received was six-thousand dollars short of my tuition costs. I would have had to forget about school if someone I was personally friends with did not generously lend me the extra money, since I could not manage to get a private loan from elsewhere (neverminding the interest rates on those). The financial aid advisor at my school showed me it was because they expected my family to pay 3-4k of my tuition based on my FAFSA, which was very nice of them to assume since my family literally did not give me anything.

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Post by ScottyMcGee » Wed Jan 04, 2017 11:32 am

Obligatory comment that raises the middle finger at the housing crisis because my parents had all my tuition saved up for college throughout the many years, but then when the housing crisis happened they lost a little more than half of that money. And of course I just naturally happened to go to college right at the start of that crisis.
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Post by Sonic 5 » Wed Jan 04, 2017 2:50 pm

[QUOTE="SKELETOR, post: 1617789, member: 35827"]The last student loan I received was six-thousand dollars short of my tuition costs. I would have had to forget about school if someone I was personally friends with did not generously lend me the extra money, since I could not manage to get a private loan from elsewhere (neverminding the interest rates on those). The financial aid advisor at my school showed me it was because they expected my family to pay 3-4k of my tuition based on my FAFSA, which was very nice of them to assume since my family literally did not give me anything.[/QUOTE]
A lot of students get screwed by the Expected Family Contribution. Mine always said that my mother, who was a single parent, needed to pay about five thousand of my expenses. I was lucky in that my mom helped out when she could, but many aren't.

It's absolutely braindead that you have to report your parents' income until you're 24. As if everyone's parents can afford or are even willing to help them out.

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Post by Sim Kid » Thu Jan 12, 2017 10:32 pm

[QUOTE="Shane, post: 1617788, member: 1"]Anybody can get a student loan, regardless of financial background. They're easier to get than a mortgage under Clinton/Bush. They can't be discharged under bankruptcy, meaning they can give them out to basically any idiot that wants one. That may incentivize people to lend them to people who have no business getting them, rather than trying to counsel them on doing the right thing.[/QUOTE]


Anyone except for me and my sister, apparently.

I already got $0.00 for filling in FAFSA as a grant because my parents' income was too high, despite all sorts of factors that make me "wicked eligible" such as disability, american citizen, how old my parents are, etc. I wasn't even eligible for student loans because my "Parents income was too high". And according to people these people, apparently FAFSA sends you applications for loans moreso than it does grants and the like.

I know what some people might say: "That's because you're a cis het (as far as society is concerned) white male and don't make the government or private scholarships look good."... well my sister couldn't even get so much as a notification for what kinds of student loans she was eligible for, and, yes, as you guessed, no grants either because the income was too high. Amusingly enough, she looked for some loans as well... and wasn't eligible because she "did not have credit rating". Which I found was strange because I was never asked to provide mine, and I actually HAD a credit rating at nineteen. (This also should have been a red flag to her that you kinda... need a credit rating, but nope. >.< )

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Post by Shane » Thu Jan 12, 2017 11:02 pm

I was referring to the low end, as well as without regard for aptitude or goals. For federal loans, they don't care about someone's ability to repay. Someone who would otherwise never qualify for any other loan has an advantage, and if they want to run up $50k in debt for a liberal arts degree without even actually knowing what they want to do, that will be deemed a perfectly sensible plan. Of course, even those who think they make too much should still fill out the paperwork anyway.
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Post by CaptHayfever » Fri Jan 13, 2017 12:40 pm

People mock "liberal arts degrees" as if it's like an impractical "underwater basket weaving" kind of thing.
I have 3 degrees, in Mathematics, Theatre, & Education. All 3 of them are liberal arts degrees, because I got them at a "liberal arts" university, which just means that it focuses primarily on undergraduate studies (not exclusively, the Ed degree is a Master's) & makes students learn some things outside of their majors (beyond basic life-skill requirements).
The term "liberal arts" is not a political credo, either; many predominantly-conservative colleges are still liberal arts schools, because they fit the model I just described.
Even an officially-declared "Liberal Arts" major isn't the joke that some people want it to be; it requires balanced study in several major subject areas: Math, Science, Social Studies, Philosophy, Literature, & Art, for example. It might as well be called a "general knowledge" major or a "jack-of-all-trades" major.

As for the FAFSA, I didn't fill it out as an undergrad because I had enough scholarships to cover everything anyway.
By the time I did fill it out for grad-school loans, I had built up some credit due to having a job, paying on a credit card, & filing tax returns on my scholarships, so I didn't need a co-signer. In contrast, my sister had loans heading into freshman year, so she needed our parents to co-sign...but she still got the loans. Parental income should only be a factor for allowing them as co-signers, not for giving you the loan in the first place.

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Post by VG_Addict » Sun Jan 15, 2017 9:50 am

I'm going for my associates in general education.

My mom says it'll show that I'm well-rounded.

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Post by CaptHayfever » Sun Jan 15, 2017 10:14 pm

^It will do that, yes. It will also qualify you for a lot of jobs. And it's a good springboard in case you decide to go for a bachelor's degree later on.

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