You kiddin me???

[oudoc08]

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So I go to put my student loans back in deferment for yet another year, and these douches tell me that the previous option that allowed me as a resident to defer is no longer available as of July 2009. I make "too much money" (i.e. over 150% of the max poverty level (about 30,000/yr).
So, it sounds like forebearance (paying every dime of interest, including the 34,000 in subsidized stafford loans) is the only option I have for the next couple years.
That or start paying just south of 1500 /mo as of this month.

Lets see, which party was in control of the congress for the last couple of years??? 😡😡😡

 

[Surfer]

Remind me again why taxpayers should pay the interest on your student debt? or anybody elses student debt for that matter?

People complain about the cost of education, but what they don't realize is all the govt subsidized student loans have caused the explosion in educational expense. If the money wasn't available, and CHEAP, students wouldn't take the loans, and institutions would have to lower their matriculation fees.

But seriously, you're mad at congress because they didn't give you free interest?? look in the mirror man, you took out those loans, and you are responsible to pay them back.

 

[cchoukal]

This was signed into law years ago by the previous president under something innocuous-sounding like the "college family savings act" or something. And I actually think society has a vested interest in making it easier for people to get more education, so I think interest subsidies are a small price to pay. That said, your point about the availability of funds driving tuition up is interesting.

 

[coprolalia]

That said, your point about the availability of funds driving tuition up is interesting.

Agreed. And, it's an interesting corollary to what's happened in the healthcare delivery system over the past 60-70 years, as well.

-copro

 

[urge]

So I go to put my student loans back in deferment for yet another year, and these douches tell me that the previous option that allowed me as a resident to defer is no longer available as of July 2009. I make "too much money" (i.e. over 150% of the max poverty level (about 30,000/yr).
So, it sounds like forebearance (paying every dime of interest, including the 34,000 in subsidized stafford loans) is the only option I have for the next couple years.
That or start paying just south of 1500 /mo as of this month.

Lets see, which party was in control of the congress for the last couple of years??? 😡😡😡

What car do you drive?

 

[Doctor Bagel]

Where have you been? This was signed ages ago, and we made a big fuss about it at SDN. I think I even spammed everybody at our school about it, and you might have even been a student then. 🙂 You do have one other option, though -- you qualify for decreased payments where you have to pay no more than 15% of the difference between your salary and 150% above the poverty line. If you do that, you'll continue to receive deferment benefits for the amount of the loans you're not paying.

Bigger message -- the difference between forbearance and deferment isn't that big of a deal for most of us because the only loans where you can defer interest are subsidized loans. For most medical students, these are a pretty small chunk of the total we borrowed. Still sucks, though.

And dude, to get political, this bill was signed back when republicans where in charge.

 

[oudoc08]

My gripe isn't that I have to pay interest, it is that the government has essentially reniged on the terms of the previously agreed upon loan, that is, at the time I took out the loan, the small portion which was subsidized, would continue to be interest-free until time "X". However rather than retract the deferment option, they simply made it impossible for a resident to get, as no one makes <40k/yr.

If I tried to alter a similar agreement, I would be in default for violating the terms of the previously agreed upon contract.

And I think the differential amount of income tax that I will pay in the future as a result of my career choice, completely justifies the subsidy. The difference is that the goverment now essentially gets their cake twice.

Do I expect the government to support me? Absolutely not.
Do I expect the government to hold up it's end of a borrowers contract?

Would be nice.

 

[oudoc08]

What car do you drive?

WTF does this matter? I'm supposed to give up my car because the goverment altered the terms of our original agreement ?

Do I get to at least use a little lube?

 

[2win]

WTF does this matter? I'm supposed to give up my car because the goverment altered the terms of our original agreement ?

Do I get to at least use a little lube?

"Do I get to at least use a little lube?"
This is the reason that I chose anesthesia - free lube in the anesthesia cart.

 

[coprolalia]

"Do I get to at least use a little lube?"
This is the reason that I chose anesthesia - free lube in the anesthesia cart.

You're on a roll, dude!

-copro