A Quote by Wayne Messam
As president I will push for national student loan forgiveness.
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As our nation's student debt crisis has reached a breaking point, we've been hearing lots of talk about student loan forgiveness. It's taken me 20 years to forgive myself for my loan - and just as long to pay it off.
The most important loan to pay is your student loan. It's more important than your mortgage, car and credit card payments. You cannot discharge student loan debt in the majority of cases.
In reality, student loan forgiveness is welfare for the rich: a federal mandate that people who will make less money on average over the course of their lives bail out people who will make more money on average over the course of their lives.
The fact that you have government-guaranteed student loans has created a whole new sector in the American economy that didn't really exist before - private for-profit universities that sell junk degrees that don't help the students. They promise the students, "We'll help you get a better job. We'll arrange a loan so that you don't have to pay a penny for this education." Their pet bank gets them the government-guaranteed loan, and the student may get the junk degree, but doesn't get a job, so they don't pay the loan.
High school seniors should receive help in how to think about a student loan and how to make sure that the education bought with the loan offers good prospects for repayment.
What I want to do first with education is my student loan idea. Basically, if you go into teaching and teach for five years, your student loans should be forgiven. It doesn't cost that much.
I got told I wasn't allowed to go on loan, which was a good thing but, at the same time, I just wanted to play matches. So do I annoy the manager and try to push for a loan or was I just to keep working hard and trust him?
Remember that in most cases, student loan debt is not dischargeable in bankruptcy. So you continue to pay it off anyway. Those who have very low interest rates (2-2.5 percent) on student loans and know everything is secure, great.
I think people are dazzled by Obama's rhetoric, and that people ought to begin to understand that Obama is going to be a mediocre president — which means, in our time, a dangerous president — unless there is some national movement to push him in a better direction.
I was student council president in high school, and even in law school, I was vice-president of the student bar association.
When SoFi launched in 2011, it focused squarely on the burgeoning student loan market - a market that, unlike housing, had no viable option to refinance both federal and private student loans from higher interest-rate eras.
Unfortunately, this will have a ripple effect in the economy. People carrying heavy student-loan debt won't buy houses, start families, or start businesses. This will hurt the future economy.
As a first-generation college student who worked my way through community college on to Cornell Law, having health insurance was not a top priority when I was starting out. I was buried in student loan debt and worried about simply making ends meet.
Even if you were to fall into extreme financial hardship and file for bankruptcy, you need to understand that your student loan debt will not be discharged in bankruptcy. It is the Velcro of all debts.
President Reagan always gave the credit to the American people and American ideals. He treated his job as a valuable temporary loan from the American people, a loan that should be respected and returned with dutiful appreciation.
Rising student-loan debt is an economic emergency.
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