Student loan program takeover

[pathologic]

Will the student loan takeover effect or old private loans? If they are going to ultimatly lower our compensation it would be nice if they offer some sort of relief for those of us with high private student loan debt. I need a bailout!

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[pathstudent]

Will the student loan takeover effect or old private loans? If they are going to ultimatly lower our compensation it would be nice if they offer some sort of relief for those of us with high private student loan debt. I need a bailout!

No it only applies those that go into nursing, teaching and a few other professions like that. It doesn't mention doctors, or there is talk that those that go into primary care might be included.

 

[Parts Unknown]

Will the student loan takeover

Okay, perhaps someone here can help me, because I'm having a really hard time understanding how this is a "takeover."

A few years ago the Feds made about $100 billion a year in direct educational loans to students. They gave about $10 billion a year to back private lenders who also made educational loans. Essentially they used taxpayer money to assume the risk for private lenders who made a buck lending to students.

So, as far as I can tell, the "takeover" essentially means the Feds will no longer be backing those private loans, and will instead use all funding for either direct loans (the sort they use most of the money for anyways) or increasing Pell grants.

I don't see how withdrawing artificial support from an extraneous industry, and making no rules against private educational lending in general, constitutes a "takeover."

What am I missing?

 

[KluverB]

What am I missing?

Durka Durrr they took err loans !!!

 

[Ruination]

Durka Durrr they took err loans !!!

Great Team America reference. F*#k yeah!

 

[Arctic Char]

it does apply to recent medical graduates. when you graduate, pathstudent, your financial advisor will tell you all about the public service 10-year forgiveness option . . . in fact it was mentioned in NPR this afternoon

what i don't know, however, is whether pathology service would qualify as public service, in the case that you work at a public university . . .? i vaguely recall that it only applied to primary care . . .