Senator Warren Introduces the Bank on Students Loan Fairness Act

• BobYoMeowMeow wrote on 2013-05-09 14:53
  [video=youtube;P-4FhsyvJdM]http://www.youtube.com/watch?v=P-4FhsyvJdM&feature=youtu.be[/video]
  
  Subsidized student loans are currently at 3.4% interest rate and will then double to 6.8% in July.
  This new interest rate is nine times the rate large banks pay for their loans.
• Kingofrunes wrote on 2013-05-09 15:08

  Quote from BobYoMeowMeow;1085185:

  [video=youtube;P-4FhsyvJdM]http://www.youtube.com/watch?v=P-4FhsyvJdM&feature=youtu.be[/video]
  
  Subsidized student loans are currently at 3.4% interest rate and will then double to 6.8% in July.
  This new interest rate is nine times the rate large banks pay for their loans.

  
  
  Fuck and I still am no where near done paying off my government loans from when I was in college. At least I'm paying on time :sigh:
• Claudia wrote on 2013-05-09 19:25
  I was about to say...I'm looking at 6.8% fixed federal loans and I want to cry.
  
  I can understand that the rates go up when there is more demand, but doubling the rates? Really?
  
  ...
• Thorne wrote on 2013-05-10 01:07
  Going to College isn't worth it anymore. Degrees seem to be worth nothing to jobs you apply to.
• BobYoMeowMeow wrote on 2013-05-10 01:25

  Quote from Thorne;1085468:

  Going to College isn't worth it anymore. Degrees seem to be worth nothing to jobs you apply to.

  
  
  wouldn't want to receive from a doctor without a degree
• Hanna wrote on 2013-05-10 04:58

  Quote from Thorne;1085468:

  Going to College isn't worth it anymore. Degrees seem to be worth nothing to jobs you apply to.

  
  
  it's really situational
  unlike what most say, you don't need to go to college to be successful, just go to trade school
• Hanna wrote on 2013-05-10 04:58

  Quote from Thorne;1085468:

  Going to College isn't worth it anymore. Degrees seem to be worth nothing to jobs you apply to.

  
  
  it's really situational
  unlike what most say, you don't need to go to college to be successful, just go to trade school and pick up a trade you like such as nursing or computer repair and you'll be getting a nice middle class wage
• Ninjam wrote on 2013-05-10 05:20
  Ive been to trade school. I could get my A+ certification in computer repair anytime I get the money, I'm going to college to learn more about the things I love, namely computers and drawing. I want to combine them to make my own games!
  
  Will this apply to loans taken out before the date it was changed? I get enough extra loans I decline I could accept all of the loans I get and not have to take any more out, usually I decline a good half or more of my loans to try and minimize the amount I will have to pay back later.
• Claudia wrote on 2013-05-10 16:22
  I'm sorry but I facepalm so hard when people say college isn't necessary
  
  omg
  
  I just
  
  I can't
  
  let's just say that it depends on your career path and situation, and leave it at that
  
  (also, if you take your loans before july they'll still be at 3.4% - do it now!!)
• Kingofrunes wrote on 2013-05-10 16:36

  Quote from Hanna;1085613:

  it's really situational
  unlike what most say, you don't need to go to college to be successful, just go to trade school

  
  
  My sister went to a trade school for cosmetics and is now running her own beauty shop I think.
  
  

  Quote from Claudia;1085856:

  
  (also, if you take your loans before july they'll still be at 3.4% - do it now!!)

  
  
  So existing subsidized government loans aren't affected by this?
• Hanna wrote on 2013-05-10 16:40

  Quote from Claudia;1085856:

  I'm sorry but I facepalm so hard when people say college isn't necessary
  
  omg
  
  I just
  
  I can't
  
  let's just say that it depends on your career path and situation, and leave it at that
  
  (also, if you take your loans before july they'll still be at 3.4% - do it now!!)

  
  
  college is far from necessary, trade school =/= college
  there are plenty of trades to chose from, and trade school is inexpensive and will train you for (common) jobs that pay a decent amount of money
  in my opinion, that's a lot better than spending loads of money on a degree that you can't use
  
  it really depends on what field of work you want to get into, trade school isn't for everyone, but neither is college
  
  My cousin is a RN, and she makes a GOOD money, and she enjoys what she does, nurses are in high demand and you could get a job almost anywhere, but I've met too many nurses who got into the trade for money and hate working with people and it's just... UGH WHY DID YOU PICK THIS YOU MEAN BITCH
• Kingofrunes wrote on 2013-05-10 18:28

  Quote from Hanna;1085867:

  college is far from necessary, trade school =/= college
  there are plenty of trades to chose from, and trade school is inexpensive and will train you for (common) jobs that pay a decent amount of money
  in my opinion, that's a lot better than spending loads of money on a degree that you can't use
  
  it really depends on what field of work you want to get into, trade school isn't for everyone, but neither is college
  
  My cousin is a RN, and she makes a GOOD money, and she enjoys what she does, nurses are in high demand and you could get a job almost anywhere, but I've met too many nurses who got into the trade for money and hate working with people and it's just... UGH WHY DID YOU PICK THIS YOU MEAN BITCH

  
  
  Going to have to agree. Trade Schools focus on one particular thing and does not force you to "broaden your horizons" with all this crap that you'll never EVER use in your entire career path :/ I'm looking at you stupid forced liberal arts classes >.>
  
  I regret wasting my time in college when I could have gone to a trade school like BOCES and gotten it done and over with.
• Thorne wrote on 2013-05-10 19:51

  Quote from Claudia;1085856:

  I'm sorry but I facepalm so hard when people say college isn't necessary
  
  omg
  
  I just
  
  I can't
  
  let's just say that it depends on your career path and situation, and leave it at that
  
  (also, if you take your loans before july they'll still be at 3.4% - do it now!!)

  
  
  A lot of people don't even use anything they went to college for.
  It really isn't entirely necessary. It may in some fields but it's not in everything.
• Claudia wrote on 2013-05-10 20:51

  Quote from Kingofrunes;1085864:

  So existing subsidized government loans aren't affected by this?

  
  
  Your rate shouldn't change, no. A friend of mine is still paying off her undergrad Stafford loans and they're at like...1.9% because that's what the rate was in the early 2000's. It's beautiful.
  
  

  Quote from Hanna;1085867:

  it really depends on what field of work you want to get into, trade school isn't for everyone, but neither is college

  
  
  ^ yes. I kinda hate how much people emphasize the idea of going into trades but IT'S NOT FOR EVERYONE. UGH. PLEASE DON'T EVER TELL SOMEONE THEY SHOULD CONSIDER A TRADE INSTEAD UNLESS THEY HAVE ABSOLUTELY NO IDEA WHAT THEY WANT TO DO/KNOW THEY WANT TO DO A TRADE.
  
  

  Quote from Hanna;1085867:

  My cousin is a RN, and she makes a GOOD money, and she enjoys what she does, nurses are in high demand and you could get a job almost anywhere, but I've met too many nurses who got into the trade for money and hate working with people and it's just... UGH WHY DID YOU PICK THIS YOU MEAN BITCH

  
  
  The problem with nursing is that to get your foot in the door, you need a bachelor's almost everywhere. And except for the Midwest, the coasts and most heavily populated areas are dealing with a serious surplus of qualified nurses, and there's a vicious cycle where "previous experience preferred" is locking a lot of new grads out of a job, unless you want to relocate to a hick town in the middle of nowhere, making $19/hr and being extremely overworked.
  
  Even nursing is not a panacea anymore.
  
  

  Quote from Thorne;1085966:

  A lot of people don't even use anything they went to college for.
  It really isn't entirely necessary. It may in some fields but it's not in everything.

  
  
  College is not just about being qualified for a job.
• Hanna wrote on 2013-05-10 21:05

  Quote from Claudia;1086012:

  
  
  ^ yes. I kinda hate how much people emphasize the idea of going into trades but IT'S NOT FOR EVERYONE. UGH. PLEASE DON'T EVER TELL SOMEONE THEY SHOULD CONSIDER A TRADE INSTEAD UNLESS THEY HAVE ABSOLUTELY NO IDEA WHAT THEY WANT TO DO/KNOW THEY WANT TO DO A TRADE.
  
  

  
  Wat.
  
  Not everyone has the ability to go to college financially or academically.
  I'm not going to tell someone "Don't go to college, pick a trade" because that's fucking rude, but if someone doesn't know what they're going to do with their life yet, are dirt broke (and student loans are back and wallet breaking), and/or didn't have the grades to get into a good school (which DOES matter if you're planning on getting a job with the degree you're earning)
  
  All I'm trying to say is that you do NOT have to go to college to make a decent living and be success, which is what people try to emphasis too often.
  Not going to college doesn't automatically mean you'll be flipping burgers and living in a trailer park.